Core Viewpoint - The China Securities Regulatory Commission has approved the initial public offering (IPO) registration of Moore Threads Technology, which aims to raise 8 billion yuan to list on the Sci-Tech Innovation Board [1] Company Overview - Moore Threads is recognized as a representative enterprise in the domestic AI chip sector, having achieved technological breakthroughs with its self-developed MUSA architecture that supports AI computing acceleration, graphics rendering, physical simulation, scientific computing, and ultra-high-definition video encoding and decoding [1] Financial Performance - The projected operating revenues for Moore Threads from 2022 to 2024 are approximately 46.0883 million yuan, 124 million yuan, and 438 million yuan, respectively [1] - The net profits for the same period are expected to be around -1.84 billion yuan, -1.673 billion yuan, and -1.492 billion yuan, indicating a trend of continuous loss reduction [1] - In the first half of 2025, the company reported an operating revenue of approximately 702 million yuan and a net profit attributable to shareholders of about -271 million yuan [1]

Core Viewpoint - Moore Threads is a representative enterprise of domestic AI chips, achieving technological breakthroughs in a single chip architecture that supports AI computing acceleration, graphics rendering, physical simulation, scientific computing, and ultra-high-definition video encoding and decoding based on its self-developed MUSA architecture [2] Group 1 - Moore Threads' IPO progress is rapid, with the listing application accepted on June 30, 2025 [2] - After two rounds of inquiries, the company's IPO was approved on September 26, and the registration was submitted on the same day [2]