On December 5, Moore Threads, hailed as China's "pioneering domestic GPU enterprise," made its market debut on the STAR Market (Science and Technology Innovation Board). On its first trading day, the stock price soared by over 500%, peaking at 688 yuan per share before experiencing a subsequent pullback. By the market close, the share price had settled at 600.5 yuan, marking a staggering 425.46% increase from its issue price—equivalent to a 486.22 yuan gain per share. Based on this closing price, investors could reap floating profits of approximately 243,100 yuan per lot (with each lot typically comprising 500 shares in the Chinese market); at the day's peak price, the maximum floating profit per lot could have reached around 286,900 yuan. The meteoric rise of Moore Threads' stock on its IPO debut not only stunned retail investors but also delivered substantial returns to institutional investors who participated in the offline share subscription. According to the company's announcement, 39.2 million shares were ultimately allotted offline, generating an aggregate floating profit of approximately 19.06 billion yuan. Furthermore, the roster of institutions participating in this offline allotment was truly impressive.