沐曦股份：依托中国 AI 基建与国产化趋势的本土 GPU 龙头；首次覆盖给予 “买入” 评级，目标价 811 元人民币

9 February 2026 | 8:59PM HKT Equity Research MetaX (688802.SS) Local GPU leader riding on China's AI infrastructure and localization trend; Initiate at Buy with TP at Rmb811 688802.SS 12m Price Target: Rmb811.00 Price: Rmb512.62 Upside: 58.2% MetaX is a local GPU leader, offering general-purpose GPU cards and a full-stack solution for AI computing, inferencing and graphics rendering, supported by the company's in-house architecture and GPU IP. We expect the company's AI training/ inferencing GPU business to ...