Core Viewpoint - The market debut of China's GPU makers Moore Threads and MetaX is highly anticipated, driven by domestic demand for home-grown graphics processing units amid Beijing's push for tech self-sufficiency [1] Group 1: Moore Threads - Moore Threads' IPO was oversubscribed by 4,000 times, raising 8 billion yuan (approximately US$1.13 billion) and is set to be listed on Shanghai's Star Market [2] - The subscription lottery for Moore Threads opened at 114.28 yuan per share, the highest pricing among A-share listings this year, resulting in a final allotment rate of just 0.036% for retail investors [3] - The company is focused on developing alternatives to Nvidia GPUs and aims to align with national strategic trends in emerging industries [7] Group 2: MetaX - MetaX has set its IPO pricing at 104.66 yuan, aiming to raise 4.2 billion yuan from the listing [4] - The flagship C600 GPU from MetaX is positioned between Nvidia's A100 and H100 chips in terms of performance, with risk production expected by the end of this year and full mass production in the first half of 2026 [5][6] - The next-generation C700 GPU is expected to rely entirely on a domestic supply chain and aims to significantly improve capabilities to rival Nvidia's H100, with manufacturing slated for the second half of 2026 [6]