On November 24, 2025, Moore Threads officially kicked off its subscription phase, carrying the stock code 688795. Once listed, it is set to earn the title of the "first domestic GPU stock." The offering price per share has been established at RMB 114.28, the highest of the year to date. Successful applicants will be required to pay RMB 57,140 for a lot allocation. This Initial Public Offering (IPO) is projected to amass a total of RMB 8 billion, positioning it as the second-largest IPO project in the A-share market for the year. It falls just behind Huadian New Energy, which is listed on the main board of the Shanghai Stock Exchange. Moore Threads is dedicated to the research and development, design, and marketing of GPUs and related products. The company has introduced four generations of GPU architectures, thereby creating a comprehensive computing acceleration product matrix that spans fields such as AI intelligent computing and high-performance computing.