Core Viewpoint - Multiple stocks related to Moer Thread have seen significant gains, particularly Zhongke Lanyun, which rose over 10% following the approval of Moer Thread's IPO application on September 26 [1][2][3] Group 1: Stock Performance - Zhongke Lanyun (688332.SH) experienced a peak increase of over 13%, closing at 156.65 yuan per share, with a market capitalization of 18.892 billion yuan [1] - Lihexing (301013.SZ) rose by 7.45%, while Heertai (002402.SZ) increased by 5.94% [1][2] - Other stocks such as Zhuoyi Information (688258.SH) and Donghua Software (002065.SZ) also showed upward trends [1][2] Group 2: Moer Thread's IPO and Financials - Moer Thread's IPO application was approved by the Shanghai Stock Exchange's Science and Technology Innovation Board, taking only 88 days from acceptance to approval [2] - The company aims to raise 8 billion yuan for the development of new AI and graphics chips, as well as to supplement working capital [6] - Financial projections indicate that Moer Thread's revenue is expected to grow from 46 million yuan in 2022 to 438 million yuan in 2024, with a compound annual growth rate of 208.44% [6] Group 3: Company Ownership and Partnerships - Zhongke Lanyun holds a direct stake of 0.34% and an indirect stake of 0.17% in Moer Thread, totaling 0.5% [3] - Heertai directly holds 1.0262% of Moer Thread's shares prior to the IPO [4] - Lihexing, Zhuoyi Information, and Donghua Software are identified as cooperative clients of Moer Thread, with ongoing collaborations in software adaptation and market promotion [6] Group 4: Challenges and Future Outlook - Moer Thread faces challenges such as high R&D costs, reliance on foreign GPU products, and being listed on the U.S. Entity List, which impacts its operations [7] - The company anticipates achieving profitability by 2027, although this includes government subsidies, and expects to be at a breakeven point without these subsidies [7]

Core Viewpoint - The article highlights the rapid approval of the IPO application for Moer Thread Intelligent Technology, indicating a significant improvement in the efficiency of the Sci-Tech Innovation Board's review process, which is seen as a strong signal of support for technological innovation in China [2][5]. Group 1: Company Overview - Moer Thread is recognized as a "specialized, refined, distinctive, and innovative" small giant enterprise and an industry unicorn, focusing on the research, design, and sales of full-function GPU products [4]. - Since its establishment in 2020, Moer Thread has targeted the high-tech, strategically significant full-function GPU route, achieving breakthroughs in technology that support AI computing acceleration, graphics rendering, physical simulation, scientific computing, and ultra-high-definition encoding and decoding [4]. Group 2: IPO Details - The company plans to raise 8 billion yuan through its IPO, which will be allocated to the development of new generation self-controlled AI training and inference chips, graphics chips, and AI SoC chips [4]. - As of now, Moer Thread has mass-produced five chips, creating a product matrix that covers AI intelligent computing, high-performance computing, and graphics rendering, completing a full-stack AI product line layout [4]. Group 3: Technological Strength - Moer Thread has invested over 4.3 billion yuan in R&D, with a technical team of nearly 900 people, over 75% of whom hold master's degrees or higher, many of whom come from international tech giants [4]. - By June 30, 2025, the company had been granted 514 authorized patents, including 453 domestic invention patents, covering multiple core technology areas of GPUs, with some product performance indicators approaching or reaching international advanced levels [4].