Core Viewpoint - The IPO of Muxi Co., Ltd. has generated significant interest, with a low final winning rate of 0.03348913%, indicating high demand for its shares in the market [4][6]. Group 1: IPO Details - Muxi Co., Ltd. announced its IPO on December 8, with a total of 19,331 winning numbers, allowing each winner to subscribe for 500 shares [1]. - The IPO price was set at 104.66 yuan per share, corresponding to a market capitalization of approximately 41.874 billion yuan and a price-to-sales ratio of 56.35 times [7]. - The company plans to issue 40.1 million shares, accounting for 10.02% of the total share capital post-issue, with net fundraising expected to be 3.899 billion yuan [7]. Group 2: Market Comparison - Muxi's initial winning rate is lower than that of another GPU manufacturer, Moore Threads, which had a final winning rate of 0.03635054% [6]. - The fundraising amount for Muxi is slightly lower than the previously planned 3.904 billion yuan, while Moore Threads raised 7.576 billion yuan with a higher price-to-sales ratio of 122.51 times [7]. Group 3: Company Strategy and Future Plans - The funds raised will primarily be allocated to the development of new high-performance general-purpose GPUs and AI inference GPUs, as well as advanced GPU technology for emerging applications [7][8]. - The company aims to establish a strong market presence by maintaining a competitive edge in R&D and building a reputable brand [7]. - Muxi Co., Ltd. is focusing on the cloud and edge computing markets, with plans to develop next-generation chips designed for generative AI inference [8]. Group 4: Financial Performance - Muxi's revenue for 2022, 2023, and projected 2024 are 426,400 yuan, 53.0212 million yuan, and 743 million yuan respectively, showing a compound annual growth rate of 4,074.52% [14]. - The company expects to achieve breakeven by 2026, with a significant year-on-year revenue growth of 453.52% in the first nine months of 2025, reaching 1.236 billion yuan [14]. - Muxi's sales gross margin is comparable to industry averages, indicating strong profitability potential despite lower revenue compared to peers [14].