摩尔线程开盘暴涨，最高触及688元/股， 较发行价翻了5倍，市值突破2700亿元。 文｜姜凡 编辑｜董雨晴 今天，摩尔线程开盘暴涨，最高触及688元/股，较发行价直接翻了5倍，截至目前，市值已突破2700亿元。 图｜左三为摩尔线程创始人、CEO张建中 以此估算，摩尔线程的最早入局方，即在2020年9月以1000万元投前估值的优惠价，投资190.48万元的沛县乾曜兴科技，按其在招股书的持股比例计算， 投资回报率达到了6021倍。 随着两场逆袭的出现，一场围绕算力自主的攻坚战在中国科技领域全面打响。 来源｜凤凰网科技（ID：ifeng_tech） 封面来源｜公司官网 2025年中国半导体行业最引人注目的现象，是寒武纪的逆转。现在，相似的时刻来临——12月5日，摩尔线程正式在科创板挂牌上市，成为中国首家登陆 资本市场的全功能GPU企业。 在正式上市前，摩尔线程也摘得了许多标签：88天最快过会、年内最贵科创板新股，让"中国版英伟达"的故事愈发明朗。 摩尔线程登陆资本市场的同一日，另一GPU企业沐曦股份的打新也在同步进行中，此前已公布发行价为104.66元/股，网下申购已达2261.68倍。 二者从诞生之日再到IPO之 ...

Core Viewpoint - The debut of "Mole Thread," the first domestic GPU stock, on the Sci-Tech Innovation Board saw its stock price surge over 500% on the first day, leading to significant profits for early investors, particularly the private equity firm "Huanfang Quantitative" which made a substantial investment [1]. Group 1: Company Performance - Mole Thread's initial offering price was 114.28 yuan, and it opened at 650 yuan, resulting in a paper profit exceeding 32 million yuan for Huanfang Quantitative, which acquired 61,300 shares for over 7 million yuan [1]. - Huanfang Quantitative's funds have reportedly achieved returns exceeding 50% this year, significantly outperforming the market indices, which have only risen about 23% [1]. Group 2: Market Dynamics - The rise of quantitative trading firms has changed market dynamics, allowing them to execute thousands of trades in milliseconds, creating volatility and rapid price movements that can be disconnected from the underlying fundamentals of companies [3][4]. - The presence of numerous quantitative players with similar strategies can lead to erratic market behavior, such as sudden stock price spikes or crashes, often driven by algorithmic trading rather than company performance [3][4]. Group 3: Investment Landscape - The competitive landscape for retail investors has become more challenging as they now face algorithmic trading strategies that operate on speed and data, making traditional fundamental analysis less effective [3][4]. - The efficiency brought by quantitative funds has increased market volatility, raising questions about whether this "machine trading" model benefits retail investors or complicates their investment strategies [4].

Core Viewpoint - Moole Technology (688795.SH) has successfully listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board, raising nearly 8 billion yuan, marking the largest IPO on the board this year [1][4]. Company Overview - Moole Technology was founded in October 2020, focusing on general-purpose GPU technology, with key figures including founder and CEO Zhang Jianzhong, a former general manager of NVIDIA China [3]. - The company has a shareholding structure where Zhang Jianzhong holds 36.36% of the shares, with other notable investors including Guosheng Capital and Sequoia Capital [3]. IPO Details - The IPO involved the issuance of 70 million new shares, bringing the total share capital to 470 million shares, with a net fundraising amount of 7.576 billion yuan after deducting issuance costs [3]. - The initial offering price was set at 114.28 yuan per share, with a subscription rate of approximately 4126.49 times, leading to a final winning rate of 0.036% [1][3]. Market Performance - On its first trading day, Moole Technology's stock price opened 468% higher, reaching a peak of 688 yuan per share before closing at 600.50 yuan, a 425.46% increase, resulting in a market capitalization of 282.252 billion yuan [1][4]. R&D Investment and Financials - Moole Technology has made significant R&D investments, totaling 3.8 billion yuan from 2022 to 2024, which accounts for over 626% of its revenue [5]. - The company is projected to incur net losses of 1.412 billion yuan, 1.691 billion yuan, and 1.507 billion yuan from 2022 to 2024, with cash flow from operating activities also negative during this period [5]. Industry Context - Moole Technology is positioned as a key player in the domestic GPU market, competing with NVIDIA, which currently holds a 66% market share in China's AI accelerator market [7]. - The company is recognized as the only domestic manufacturer to achieve mass production and sales of full-function GPUs, indicating its potential as a significant force in the domestic market [7]. Future Outlook - The company anticipates achieving consolidated profitability by 2027, supported by favorable government policies aimed at promoting technological innovation [6]. - Following Moole Technology's IPO, several other AI chip startups are also pursuing listings, indicating a growing trend in the domestic GPU market [8].

来源：市场投研资讯 （来源：万得基金） 12月5日，国内GPU"第一股"摩尔线程（688795.SH）在科创板挂牌上市，收于600.5元，涨幅高达425.46%，让获配新股的投资者再次收获丰厚回报。 这家成立仅五年的GPU龙头企业，从6月30日IPO申请获受理到10月30日完成注册，全程仅用122天，其中受理至过会更是创下88天的科创板过会纪录。这 一"上市加速度"的背后，正是科创板"1+6"改革政策释放的制度红利，也彰显了资本市场服务新质生产力发展的突出作用。 Wind数据显示，从摩尔线程此前公布的中签结果看，共有185只公募基金获配1.547万股及以上，其中东方红配置精选A获配1.55万股居首，排在第二档的 181只基金均获配1.547万股。这些基金在股票上市首日的收益普遍超过750万元。 | | 值标 | 获醒改数量 | 狀配盒额 | | --- | --- | --- | --- | | | | 月股 | 万元 | | 1 | 东方红配置精选A | 1. 550 | 177. 191 | | | 005974. OF | | | | 2 | 财通成长优选A | 1. 547 | 176. 768 | ...

作者 | 刘一 编辑 | 张恺翀 "国产GPU第一股" 果然不负众望。 12月5日，摩尔线程在科创板上市，场面堪称火爆，开盘股价即爆涨468.8%。 截至收盘，其股价报收600.5元/股，市值2822.52亿元，投资者都赚麻了，创始人张建中身家涨超200亿 元。 有人落袋平安，一签赚27万 摩尔线程是投资者眼中的大肉签，此前打新大家蜂拥而至。网上发行有效申购户数约483万户，中签率 低至0.036%，每1万名申购者中，仅不到4人能中签。 其发行价114.28元/股，上市市值约537.15亿元。按今天的收盘价算，投资者只要持有一股就能赚486.22 元。 一手则赚近5万元！一签5手，更是近25万元！ 带着"落袋平安"的想法，不少中签者果断早早卖出。 有人晒图显示，在开盘前将摩尔线程分两笔，以650元/股、680元/股的成交价卖出，"一签27万，后面涨 到1000也和我没关系了"。 | 股票/时间 | | 委托/成交价① 委托/成交量 业务/状态 | | | --- | --- | --- | --- | | N摩尔 | 680.0000 | 200 | 重出 | | 09:26:34 | 680.0000 | ...

2025年最强新股诞生！ 3只稀土永磁概念股午后直线拉升 12月5日，上证指数午后持续走强，收盘点位突破3900点整数关口；创业板指收盘涨幅1.36%。超导概念、海峡西岸、可控核聚变、商业航天、光通信、 特高压等题材成为今日大热门。 今日午后约14时21分，稀土永磁概念股宁波韵升（600366）突然直线拉升，短短3分钟内封住涨停板；金力永磁盘中一度涨超15%，中科三环盘中一度触 及涨停板。 其他稀土永磁概念股如银河磁体、英洛华、大地熊、中科磁业、西磁科技、正海磁材、中国稀土等也有不同程度拉升。 消息面上，据媒体报道，从知情人士处获悉，金力永磁、中科三环、宁波韵升已获得通用出口许可证。有业内人士表示，通用许可证的应用将简化稀土永 磁企业出口流程，加快交付速度，利于稀土永磁行业下游需求恢复。 31只年内上市新股首日涨幅超300% 12月5日，摩尔线程（即N摩尔-U）登陆科创板。9:30开盘时，该股涨幅达到468.8%，A股市值直接飙升至3000亿元以上。收盘时公司股价报收600.5元/ 股，成为当前A股第三高价股。 | N摩尔-U | | | | | --- | --- | --- | --- | | 68879 ...

（原标题：主力资金丨6股尾盘获主力重点抢筹） 20个行业获主力资金净流入。 据证券时报·数据宝统计，今日（12月5日）沪深两市主力资金净流入17.75亿元。行业板块方面，申万一级30个行业上涨，非银金融行业涨幅居 首，达3.5%；有色金属、机械设备和国防军工行业均涨超2%，综合、电力设备、基础化工和环保等行业均涨超1%，仅银行行业跌0.58%。 从资金流向来看，申万一级行业中，20个行业获主力资金净流入。有色金属行业主力资金净流入居首，达10.51亿元；计算机、非银金融、通信和 电力设备行业主力资金净流出均超7亿元。 11个主力资金净流出的行业中，基础化工、家用电器和医药生物行业主力资金净流出均超10亿元，居前列；传媒、国防军工、建筑装饰、房地产 和钢铁行业主力资金净流出金额超2亿元。 "国产GPU第一股"N摩尔-U主力资金净流入17.11亿元，居首，上市首日大涨超425%，成交额153.07亿元。 根据网上中签公告，摩尔线程（N摩尔-U）每个中签号码对应500股，网上中签号码共3.36万个，按600.5元收盘价测算，一签浮盈约24.31万元； 若按盘中最高价688元/股计算，单签账面盈利一度逼近28.7万元 ...

"成功，源于热爱"——在摩尔线程（688795）展厅的一面墙上有着这样六个大字。站在公司上市首日这样一个特殊日子来看，除了满屏被市场热议的资本之 外，张建中等公司创始团队的情怀也被无限放大。 12月5日，A股市场迎来了"国产GPU第一股"，超越市场预期的300%首日涨幅，摩尔线程首日大涨425.46%，153.07亿元的成交金额也登顶A股首位，巨量成 交背后是股民对这家"中国英伟达"的热捧。 除了北京的摩尔线程之外，市场的另一边，上海的沐曦股份也同日启动申购，104.66元/股的高价引来269家机构、超7700个配售对象疯抢，网下申购倍数飙 至2227.6倍，热度赶超摩尔线程。 伴随京沪GPU双雄同台亮相，两家公司实控人及背后众多知名投资机构也共同迎来了一场资本盛宴。摩尔线程相关负责人对北京商报记者表示，"五年创业 历程，此次上市是公司发展的一个关键里程碑。对国产高端GPU的自主发展之路而言，也是一段具有象征意义的新起点"。目前，与摩尔线程、沐曦股份齐 名的"国产GPU四小龙"的壁仞科技、燧原科技也均已正式启动上市辅导。 京沪双雄的资本狂欢，是中国GPU产业迎来发展黄金期的必然结果。在全球AI算力需求爆发、国 ...

12月5日，开盘，摩尔线程股价暴涨468.78%，以开盘价（650元/股）计算，中一签（500股）账面盈利超过26万元，成为年内最赚钱新股。 | N 摩尔-U | | 17. Q | | | --- | --- | --- | --- | | 688795 科创板 | | | | | 650.00 今年 650.00 看高 650.00 最低 | | 650.00 | | | 468.78% 535.72 狭手 | 7.61% 总手 | 22360 金额 14.53亿 | | | 总值 3055亿 流值 191.0亿 市盈利~316.70 | | 重零 | | | 分时 | 五日 日Ｋ 周Ｋ 月 月 K 更多 , | હ | | | 最新: 650.00 535.72 468.78% | | (?) 大单模式 | | | 650.00 | 468.78% | 五档 大単 分价 | | | | | 卖5 655.65 | | | | | 変す 655.55 | 2 | | | | 할 3 655.00 | 2 | | | | を２ 654.00 | | | 414.28 | | 卖1 651.00 | 2 | ...

↑点击上面图片 加雪球核心交流群 ↑ 午后市场持续拉升，截至收盘，沪指涨0.7%，深成指涨1.08%，创业板指涨1.36%。 沪深两市成交额1.73万亿，较上一个交易日放量1768亿，个股涨多跌少，全市场近4400只个股上涨。 板块方面，保险、贵金属、福建、商业航天等板块涨幅居前，银行、中药、影视院线等板块跌幅居前。 看到这种超级大肉签，不少雪球APP用户表示酸死了... 此外，今天最值得关注的是摩尔线程上市，盘中最高涨超500%，中一签开盘卖出赚约27万。 01 摩尔线程上市 中一签狂赚27万 12月5日，被称为"国产GPU第一股"的摩尔线程登陆科创板。 开盘 摩尔线程竞价高开468%， 一度大涨超500 %，盘中最高价688元， 随后震荡调整。截至收盘，该股报600.50元/股，总市值为2822亿元。 投资者 中一签开盘卖出可以盈利27万左右。 | | | | 卖4 | | -- | | --- | --- | --- | --- | --- | --- | | 114.28 | | 0.00% | 卖3 | | 0 | | | | | 卖2 | | | | | | | 卖1 | 600.50 | | | ...