11月24日，新股打新市场迎来一只高价新股——摩尔线程的发行申购。它在网上发行1120万股，顶格申购 需配沪市股票市值11万元。 摩尔线程的发行价比较高，为114.28元，这个价格是今年以来发行价最高的新股。由于它尚未盈利，所以 未能有发行市盈率，而行业市盈率为60.12倍。 | | | | 申购 | 发行 | 网上 | 顶格申购 | 申购 | 发行 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 股票代码 | 股票简称 | 相关资料 | 代码 | 篇 | 发行 | 需配市值 | FB | | | | | | | (万股) | (万股) | (万元)3) | (万股)3) | (2) | | 688795 | 摩尔维程科 | 详细 班报 股吧 | 787795 | 7000 | 1120 | 11.00 | 1.10 | 114.28 | 这是一只高发行价且还未盈利的新股，这对于一些谨慎型股民来说，在打新时或许会有一些纠结情绪。不 过，摩尔线程属性质地优秀，在其领域内非常有名，因此，应该也有很多积极型股民会踊跃参与申购一 把。毕竟，现在的 ...

Core Viewpoint - The article highlights the rapid IPO of Moer Thread (688795.SH), regarded as the "first domestic GPU stock" and "China's version of Nvidia," with a significant fundraising scale of 8 billion yuan, marking it as the largest IPO on the Sci-Tech Innovation Board this year [1][8]. Summary by Sections Company Overview - Moer Thread focuses on the research, design, and sales of GPUs and related products, aiming to provide computing acceleration platforms for high-performance computing fields such as AI, digital twins, and scientific computing since its establishment in 2020 [1]. IPO Details - The IPO price is set at 114.28 yuan per share, with a maximum subscription limit of 11,000 shares per account, requiring a market value of 110,000 yuan in the Shanghai market for full subscription [1]. - The company achieved a total market value of 53.715 billion yuan based on the IPO price, with a price-to-sales ratio of 122.51 times [7]. Financial Performance - Moer Thread reported a revenue of 14.1 billion yuan over the past eight months, with a cumulative loss of nearly 6 billion yuan over three years [8]. - The top five customers accounted for 98.29% of the company's main business revenue in the first half of the year, with significant contracts for AI computing products [5]. Fundraising Allocation - The company plans to allocate the raised funds as follows: - 2.51 billion yuan (31.37%) for the development of a new generation of autonomous AI training integrated chips - 2.50 billion yuan (31.28%) for the development of a new generation of autonomous graphics chips - 1.98 billion yuan (24.77%) for the development of a new generation of autonomous AI SoC chips - 1.01 billion yuan (12.58%) for working capital [4]. Competitive Landscape - Moer Thread claims a leading position in the domestic GPU sector, leveraging its self-developed MUSA architecture to support various computing tasks [5]. - The company faces intense competition from international giants like Nvidia, which have advantages in product iteration speed and supply chain integration [6]. - The domestic GPU market is experiencing rapid growth due to strong government support for AI and high-performance computing, attracting significant capital and talent [7].

Core Viewpoint - Moer Technology announced its initial public offering (IPO) and listing on the Sci-Tech Innovation Board, aiming to raise a total of 8 billion yuan through the issuance of 70 million shares at a price of 114.28 yuan per share [1][4]. Company Overview - The full name of the company is Moer Technology Intelligent Technology (Beijing) Co., Ltd., with the stock code 688795 and the abbreviation "Moer Technology" [2]. - The company focuses on the research, design, and sales of GPUs and related products, having launched four generations of GPU architectures since its establishment in 2020 [3][4]. IPO Details - The IPO will consist of 70 million shares, representing 14.89% of the total share capital post-issuance [2]. - The expected total fundraising amount is 8 billion yuan, with a net amount of approximately 7.576 billion yuan after deducting issuance costs [1][2]. - The pricing method for the issuance is based on preliminary inquiries, with no further bidding for the offline portion [2]. Product Line and Market Focus - Moer Technology's product line includes AI training and inference cards, graphic acceleration products for high-end applications, and consumer-grade graphic acceleration products for AI PCs and gaming PCs [4]. - The company aims to provide integrated solutions across cloud, edge, and terminal markets, enhancing its capabilities in high-performance computing [4]. Use of Proceeds - The funds raised from the IPO will be allocated to the development of next-generation AI training and inference chips, graphic chips, and AISoC chips, as well as to supplement working capital [4].