政府新闻
中国GPU制造商MetaX在上海上市首日暴涨近700% 2025-12-17
The stock price of MetaX Integrated Circuits, a Chinese manufacturer of graphics processing units, surged nearly eightfold on its debut on the Shanghai Stock Exchange’s Nasdaq-style Star Market.MetaX closed 693 percent up at CNY829.90 (USD117.80) on Wednesday.
MetaX issued 40.1 million shares at a price of CNY104.66 (USD14.86) in its initial public offering, raising about CNY4.2 billion (USD596.2 million), which will be used to research and develop new high-performance, general-purpose GPUs, next-generation AI inference GPUs, and GPU technologies for emerging applications.
Founded in Shanghai in 2020, MetaX has not yet achieved profitability. However, its net loss narrowed 56 percent to CNY345.5 million (USD49 million) in the first three quarters of the year from a year earlier. Revenue surged 454 percent to CNY1.2 billion.
MetaX believes it has not yet turned profitable because of the long-term dominance of foreign giants in the global GPU market, particularly with Nvidia, which holds an over 80 percent share. Chinese companies started later and are still in the early stages of technological breakthroughs and product implementation, which require substantial R&D and market expansion investment.
Driven by the China-US technology rivalry and domestic substitution policies, the market penetration rate of Chinese chips has shown an upward trend in recent years, resulting in the emergence of several competitive GPU manufacturers. However, the Chinese industry as a whole is still in its early stages of development, and a clear competitive landscape has yet to take shape, MetaX said.
Moore Threads, another Chinese GPU manufacturer, went public on the Nasdaq-style Star Market on Dec. 5, with its stock surging more than fivefold on its trading debut, after a CNY8 billion IPO. The company has surged 525 percent to CNY714.80 from its issue price of CNY114.28 as of Wednesday.
Source: Yicai Global
