Moore Threads is set to commence subscription proceedings on November 24, marking a significant milestone as the A-share market prepares to embrace what is touted as the 'first domestic GPU stock'. The pace of its listing has established a fresh benchmark for newcomers on the Science and Technology Innovation Board (STAR Market) this year. Priced at RMB 114.28 per share, it stands as the year's most expensive debutant. Furthermore, with issuance expenses amounting to RMB 424 million and a total fundraising haul of approximately RMB 8 billion, Moore Threads tops the charts among STAR Market newcomers in both categories. Its market capitalization at issuance hovers near the RMB 54 billion mark.

The founding team of Moore Threads boasts a lineage from NVIDIA, and its de facto leader, Zhang Jianzhong, commands a collective 36.36% stake in the company. Based on the market capitalization at the time of issuance, Zhang's personal net worth is estimated to be nearly RMB 6 billion.

In recent years, Moore Threads has witnessed a meteoric rise in revenue. However, this growth has been accompanied by significant investments in research and development, resulting in persistent losses. The company anticipates reaching consolidated profitability as early as 2027.

The domestic GPU sector presents a landscape brimming with potential. Yet, companies operating within this space continue to grapple with challenges such as technological disparities, talent scarcity, and soaring R&D expenditures. Notably, firms like MetaX are also making strides in advancing their Initial Public Offering (IPO) processes.