Core Viewpoint - The IPO of Muxi Co., Ltd. has generated significant interest, with a low subscription rate indicating high demand for its shares, which may lead to substantial price appreciation post-listing [1][4][6]. Group 1: IPO Details - Muxi Co., Ltd. announced its IPO lottery results on December 8, with a total of 19,331 winning numbers, each allowing the purchase of 500 shares [1]. - The effective number of subscription accounts reached 5.1752 million, with a total of 28.862 billion shares applied for, resulting in an initial subscription rate of 0.02223023% and a final rate of 0.03348913% after the mechanism was activated [3][6]. - The IPO price was set at 104.66 yuan per share, corresponding to a market capitalization of approximately 41.874 billion yuan and a price-to-sales ratio of 56.35 times [6][7]. Group 2: Comparison with Competitors - Muxi's subscription rates were lower than those of another GPU manufacturer, Moore Threads, which had an initial subscription rate of 0.02423369% and a final rate of 0.03635054% [6][7]. - Muxi's market valuation and price-to-sales ratio are significantly lower than Moore Threads, which had a price of 114.28 yuan per share and a price-to-sales ratio of 122.51 times [7][10]. Group 3: Future Prospects and Strategy - The funds raised from the IPO, estimated at 3.899 billion yuan after expenses, will primarily be allocated to the development of high-performance GPUs and AI inference chips [7][8]. - The company aims to establish a strong market presence by focusing on R&D and building a reputable brand, as stated by the CEO during a recent roadshow [7][8]. - Muxi Co., Ltd. plans to target the cloud and edge computing markets, with upcoming products designed to reduce AI inference costs significantly [8][11]. Group 4: Financial Performance - Muxi Co., Ltd. reported revenues of 426,400 yuan, 53.0212 million yuan, and 743 million yuan for the years 2022, 2023, and 2024, respectively, reflecting a compound annual growth rate of 4074.52% [12]. - The company expects to reach breakeven by 2026, with a revenue of 1.236 billion yuan for the first nine months of 2025, marking a year-on-year growth of 453.52% [12].