12月初，"是说芯语"曾报道： 黑芝麻智能拟4-5.5亿收购亿智电子 2026年1月2日，黑芝麻智能科技有限公司（以下简称"黑芝麻智能"）正式宣布，战略控股收购亿智电子 科技有限公司（以下简称"亿智电子"）。通过此次交易， 黑芝麻智能将整合亿智电子在低功耗、高性 价比 AI SoC芯片领域的技术与产品优势，进一步强化其在车规级计算与端侧智能解决方案的整体布 局。 转自：黑芝麻智能 声明：本文仅为信息交流之用，不构成任何投资建议，股市有风险，投资需谨慎。 加入"中国IC独角兽联盟"，请点击进入 本次收购涵盖股权转让与增资，交易完成后，黑芝麻智能将间接持有亿智电子 60%的股权。亿智电子 核心团队承诺，自2026年起连续三年，累计实现含税营业收入不低于12亿元、净利润不低于9000万元的 业绩目标，并设有相应激励与约束机制，确保双方战略协同与业务增长有效落地。 亿智电子在端侧 AI芯片与全栈解决方案方面具有丰富积累，其自研IP与低功耗产品体系，将与黑芝麻 智能在车规级高性能芯片、成熟算法及市场渠道上形成高度互补。双方将围绕 车载产品矩阵与客户拓 展、机器人及 AI+创新业务落地、研发与供应链量产协同三大方向展开深 ...

人民财讯1月2日电，2026年1月2日，黑芝麻智能科技有限公司（简称"黑芝麻智能"）正式宣布，战略控 股收购亿智电子科技有限公司（简称"亿智电子"）。通过此次交易，黑芝麻智能将整合亿智电子在低功 耗、高性价比AI SoC芯片领域的技术与产品优势，进一步强化其在车规级计算与端侧智能解决方案的 整体布局。本次收购涵盖股权转让与增资，交易完成后，黑芝麻智能将间接持有亿智电子60%的股权。 亿智电子核心团队承诺，自2026年起连续三年，累计实现含税营业收入不低于12亿元、净利润不低于 9000万元的业绩目标，并设有相应激励与约束机制，确保双方战略协同与业务增长有效落地。 转自：证券时报 ...

公众号记得加星标⭐️，第一时间看推送不会错过。 12月12日晚间，摩尔线程发布公告称，公司将使用部分闲置募集资金进行现金管理，计划使用资金不 超过75亿元，使用期限在12个月内有效。在上述额度及期限范围内，资金可以循环滚动使用。公告披 露引起关注。 按照此前计划，摩尔线程拟募资80亿元，将投向以下项目：25.1亿元用于摩尔线程新一代自主可控 AI训推一体芯片研发项目，25.02亿元用于摩尔线程新一代自主可控图形芯片研发项目，19.82亿元用 于摩尔线程新一代自主可控AI SoC芯片研发项目，10.06亿元用于补充流动资金。 根据公告，投资目的是为提高募集资金使用效率，合理利用部分闲置募集资金，在不影响募集资金投 资项目建设实施、募集资金使用计划和保证募集资金安全的情况下，合理使用部分闲置募集资金进行 现金管理，提高募集资金使用效益。 投资种类包括但不限于协定存款、通知存款、定期存款、结构性存款、大额存单、收益凭证等安全性 高、流动性好的保本型产品。 对于此次现金管理的资金来源，摩尔线程表示，为首次公开发行股票的募集资金，公司本次募资总额 约80亿元，扣除发行费后，实际募集资金净额为75.8亿元。 | 芯片研发 ...

12月12日，摩尔线程发布公告称，为提高募集资金使用效率，合理利用部分闲置募集资金，在不影响募集资金投资项目建设实施、募集资金使用计划和保 证募集资金安全的情况下，合理使用部分闲置募集资金进行现金管理，提高募集资金使用效益。 摩尔线程及实施募投项目的子公司计划使用最高不超过人民币750,000.00 万元（含本数）的闲置募集资金进行现金管理，使用期限自董事会审议通过之日 起12 个月内有效。在上述额度及期限范围内，资金可以循环滚动使用。 对于此次现金管理的资金来源，摩尔线程表示，为首次公开发行股票的募集资金，公司本次募资总额约80亿元，扣除发行费后，实际募集资金净额为75.8 亿元。也就是说，摩尔线程此次实际募集的资金几乎全部都拿来理财了。此举也引发了外界的诸多质疑。 按照此前计划，摩尔线程拟募资80亿元，将投向以下项目：25.1亿元用于摩尔线程新一代自主可控AI训推一体芯片研发项目，25.02亿元用于摩尔线程新 一代自主可控图形芯片研发项目，19.82亿元用于摩尔线程新一代自主可控AI SoC芯片研发项目，10.06亿元用于补充流动资金。 对于外界的质疑，摩尔线程相关负责人回应称："公司前期明确披露了募集资 ...

Group 1 - The core viewpoint of the article highlights concerns from investors regarding the company's decision to allocate a significant portion of its raised funds for cash management, which may impact the expected investment in its projects [2] - The company clarified that the 7.5 billion yuan is merely the upper limit for cash management, and the actual amount used will be significantly lower, ensuring that it will not affect the development of its main business and investment projects [2] - The IPO raised approximately 7.576 billion yuan, which is intended for the development of next-generation AI chips and to supplement working capital, with funds to be allocated strictly according to the project plan [2] Group 2 - Since its listing on December 5, the company's stock price experienced a strong surge, reaching a market value of over 440 billion yuan, but subsequently dropped by 13.41% after a risk warning was issued [3] - Financial data indicates that while the company has seen rapid revenue growth in recent years, it has not yet achieved profitability, and its static price-to-sales ratio is significantly higher than the industry average [3] - Analysts suggest that the market's enthusiasm for the company reflects strong expectations for domestic high-performance GPUs as a strategic resource amid global tech competition, although domestic firms still face challenges in technology accumulation and ecosystem development compared to international leaders [3]

Core Viewpoint - The company Moer Technology raised approximately 7 billion yuan through its IPO, but has been criticized for investing 7.5 billion yuan of the raised funds into financial products shortly after listing, leading to skepticism about its intentions and future R&D efforts [3][6]. Fundraising and Financial Management - Moer Technology issued shares at a price of 114.28 yuan, raising a total of 7.9996 billion yuan, with a net amount of 757.60523 million yuan after deducting issuance costs [7]. - The funds raised are primarily allocated to various R&D projects, including AI training chips and graphics chips, but there are concerns that these projects may be more of a marketing strategy than genuine investment [6][8]. Market Reaction and Stock Performance - Following its IPO, Moer Technology's stock experienced significant volatility, with a peak price of 941 yuan and a market capitalization that reached 276 billion yuan at its highest [11][12]. - The stock's trading environment is characterized by a low float, with only 2.938 million shares available for trading, leading to speculative trading behavior among investors [10][11]. - The stock price saw a sharp decline of nearly 20% on December 12, resulting in a market value loss of 60 billion yuan, highlighting the risks associated with concentrated stock ownership and speculative trading [16]. Investor Sentiment - Investor sentiment has been mixed, with some expressing skepticism about the company's commitment to R&D given the immediate financial maneuvers post-IPO, while others are drawn to the speculative potential of the stock [3][12]. - The high price-to-sales ratio of 1008 times compared to industry peers has raised concerns about the sustainability of the stock's valuation [12][14].

12月12日晚间，有"中国版英伟达"之称的"国产GPU第一股"摩尔线程（688795.SH）发布公告称，拟使用不超过75亿元的部分闲置募集资金进行现金管 理，引发广泛关注。 13日，摩尔线程相关负责人对此回应称，公司前期明确披露了募集资金的项目计划，所募75亿资金有分阶段、明确的研发、技术升级等一系列使用安排， 也将严格按照既定募投项目计划的推进。 拟用最高75亿元"做理财" IPO募资80亿元 根据公告，投资目的是为提高募集资金使用效率，合理利用部分闲置募集资金，在不影响募集资金投资项目建设实施、募集资金使用计划和保证募集资金 安全的情况下，合理使用部分闲置募集资金进行现金管理，提高募集资金使用效益。 投资种类包括但不限于协定存款、通知存款、定期存款、结构性存款、大额存单、收益凭证等安全性高、流动性好的保本型产品。 对于此次现金管理的资金来源，摩尔线程表示，为首次公开发行股票的募集资金，公司本次募资总额约80亿元，扣除发行费后，实际募集资金净额为75.8 亿元。 按照此前计划，摩尔线程拟募资80亿元，将投向以下项目：25.1亿元用于摩尔线程新一代自主可控AI训推一体芯片研发项目，25.02亿元用于摩尔线程新 ...

每经编辑｜段炼 12月12日晚间，有"中国版英伟达"之称的"国产GPU第一股"摩尔线程（688795.SH）发布公告称，拟使用不超过75亿元的部分闲置募集资金进行现金管 理，引发广泛关注。 13日，摩尔线程相关负责人对此回应称，公司前期明确披露了募集资金的项目计划，所募75亿资金有分阶段、明确的研发、技术升级等一系列使用安排， 也将严格按照既定募投项目计划的推进。 图片来源：视觉中国（资料图） 拟用最高75亿元"做理财" IPO募资80亿元 根据公告，投资目的是为提高募集资金使用效率，合理利用部分闲置募集资金，在不影响募集资金投资项目建设实施、募集资金使用计划和保证募集资金 安全的情况下，合理使用部分闲置募集资金进行现金管理，提高募集资金使用效益。 投资种类包括但不限于协定存款、通知存款、定期存款、结构性存款、大额存单、收益凭证等安全性高、流动性好的保本型产品。 对于此次现金管理的资金来源，摩尔线程表示，为首次公开发行股票的募集资金，公司本次募资总额约80亿元，扣除发行费后，实际募集资金净额为75.8 亿元。 按照此前计划，摩尔线程拟募资80亿元，将投向以下项目：25.1亿元用于摩尔线程新一代自主可控AI训推 ...

Group 1: Company Developments - Moer Thread officially listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board on December 5, becoming the first fully functional GPU company to enter the A-share market in China. The funds raised will focus on the development of next-generation AI training and inference integrated chips, graphics chips, and AI SoC chips [1][15] - The successful listing of Moer Thread highlights the support and determination from national strategies, policies, and market participants for the development of high-tech and hard-tech enterprises [1][15] Group 2: Industry Trends - The Sci-Tech Innovation Board has a clear hard technology focus, primarily targeting electronic chips, emerging software, new information technology services, biomedicine, and intelligent manufacturing equipment, reflecting the rise of advanced manufacturing in China [2][16] - The semiconductor equipment sales increased by 11% year-on-year in Q3, benefiting front-end equipment companies from the expansion of wafer fabs [5][19] Group 3: Market Performance - The Sci-Tech Innovation Board experienced a rebound over the past week, with sectors such as chips, information technology, biomedicine, and new materials all showing increases [3][17] - The top five industries on the Sci-Tech Innovation Board are electronics, biomedicine, power equipment, computers, and machinery, collectively accounting for 88.8% of the board's total market capitalization [18] Group 4: ETF and Index Performance - The ETF tracking the Sci-Tech Innovation Board saw a net inflow of 3.04 billion yuan in the past week, while there has been a net outflow of 94.03 billion yuan since the beginning of the year [18] - The Sci-Tech Chip ETF Index reflects the performance of representative semiconductor companies on the Sci-Tech Innovation Board, focusing on sectors such as semiconductor materials, chip design, manufacturing, and testing [23][25]

Group 1: IPO Market Overview - The IPO market this week (December 1-5) shows a trend of "stable review and orderly listing," with three companies from the Beijing Stock Exchange passing the review [2] - As of December 5, the IPO queue status across various boards includes: Shanghai Main Board with 3 accepted and 11 in inquiry, Shenzhen Main Board with 2 accepted and 8 in inquiry, Sci-Tech Innovation Board with 3 accepted and 21 in inquiry, Growth Enterprise Market with 2 accepted and 11 in inquiry, and Beijing Stock Exchange with 3 accepted and 152 in inquiry [2] Group 2: Company Profiles - **Mirei Technology**: Focuses on smart network cameras and IoT video products, with revenue from 2022 to the first half of 2025 being 549 million, 673 million, 743 million, and 357 million respectively, and corresponding net profits of approximately 39.15 million, 71.58 million, 81.66 million, and 32.18 million [3][4] - **Zuxing New Materials**: Established in 2007, specializes in aluminum pigments and fine spherical aluminum powder, with revenues from 2022 to the first half of 2025 being 629 million, 690 million, 707 million, and 363 million respectively, and net profits of approximately 42.98 million, 64.82 million, 55.86 million, and 30.30 million [4][5] - **Jintai Co., Ltd.**: Engaged in the research, production, and sales of sponge titanium products, with revenues from 2022 to the first half of 2025 being 1.369 billion, 1.684 billion, 1.559 billion, and 877 million respectively, and net profits of approximately 56 million, 129 million, 137 million, and 111 million [5] Group 3: Recent Listings - **Moore Threads**: Officially listed on the Sci-Tech Innovation Board on December 5, opening at 650 CNY per share, a 468.78% increase from the issue price of 114.28 CNY, with a closing price of 600.50 CNY, reflecting a 425.46% increase [6][8] - **China Uranium Corporation**: Listed on the Shenzhen Main Board on December 3, closing at 67.99 CNY per share, a single-day increase of 280.04%, with a total market value exceeding 140.62 billion CNY [10] Group 4: Fundraising and Future Plans - Moore Threads plans to use the funds raised from its IPO for the development of next-generation AI training and inference chips, graphics chips, and to supplement working capital, aiming to enhance its technological innovation and product development [9]