Core Viewpoint - The company, known as "China's Nvidia," is rapidly advancing its IPO process on the Sci-Tech Innovation Board, having responded to the Shanghai Stock Exchange's inquiry letter and expects significant revenue growth from its AI computing products by 2025 and 2026 [1][7]. Financial Performance - The company anticipates an order amount of approximately 2 billion yuan, with a significant portion expected from AI computing business revenues in 2025 and 2026 [1]. - For the first half of 2025, the revenue breakdown is projected as follows: cluster products at 555.10 million yuan (79.12%), board cards at 98.23 million yuan (14.00%), and integrated machines at 12.10 million yuan (1.73%) [4]. - The total revenue from AI computing is expected to reach 665.44 million yuan, accounting for 94.85% of the total revenue for the first half of 2025, compared to 335.59 million yuan (77.63%) in 2024 [4]. Product Development - The company is focusing on large-scale cluster projects, with significant interest from clients in testing new generation products [1]. - The performance of the new products, such as the Pinghu and Quyuan series, is expected to show substantial improvements compared to previous versions, leading to higher prices and gross margins [2][6]. IPO Details - The company plans to raise 8 billion yuan through its IPO, which is notable as it represents one-fifth of the total fundraising amount for A-shares in the first half of the year [7][9]. - The IPO is being sponsored by CITIC Securities, and the company has undergone several rounds of financing, accumulating tens of billions in total funding [10]. Market Position - The company has established itself as a leader in GPU technology, with a focus on AI computing acceleration and various applications, holding 425 authorized patents, ranking high among domestic GPU companies [10].