Overview
- Online and offline subscriptions are set for November 24 under ticker 688795 on Shanghai’s STAR Market.
- The offering is priced at 114.28 yuan per share to raise about RMB 8.0 billion gross and RMB 7.576 billion net, implying a listing valuation near RMB 53.7 billion.
- The company says it has delivered four GPU generations built on its MUSA architecture, spanning AI acceleration, cloud workloads and personal computing since 2020.
- In the first half of 2025, revenue reached RMB 702 million with a net loss of RMB 271 million, following net losses of RMB 1.84 billion, 1.673 billion and 1.492 billion in 2022–2024.
- Founder Zhang Jianzhong told investors the MTT S80’s FP32 performance approaches Nvidia’s RTX 3060 and the S5000 cluster tops peer efficiency, as the firm targets consolidated profit as early as 2027 and cites a Frost & Sullivan forecast of a RMB 1.36 trillion China GPU market by 2029.