Overview
- Shares opened at 650 yuan, a 468% jump from the 114.28 yuan offer price, and briefly climbed as high as 688 yuan on the STAR Market.
- The listing raised 8 billion yuan, the mainland’s second‑largest IPO this year, with funds earmarked for next‑generation AI and graphics GPU R&D and working capital.
- Investor demand was intense with the sale roughly 4,000 times oversubscribed at one of the year’s highest A‑share offer prices.
- Regulatory approval arrived in about 88 days, far faster than the STAR Market’s typical processing timeline of roughly 470 days.
- Moore Threads remains on the U.S. entity list restricting access to advanced U.S. technology, while peer MetaX priced its IPO at 104.66 yuan and targets C600 risk production by end‑2025, mass production in H1 2026, and a C700 slated for H2 2026.