IPO News | Moore Thread (688795.SH) plans to go public in Hong Kong. Revenue increased 147% year-on-year in the first half of the year

Zhitong Finance App learned that on August 9, the A-share “first domestic GPU stock” Moore Thread (688795.SH) issued an announcement stating that in order to deepen the company's international strategic layout, continue to attract and gather outstanding R&D and management talents, and further enhance the level of corporate governance and core competitiveness, the company plans to issue foreign-listed shares (H shares) and apply for listing on the main board of the Hong Kong Stock Exchange.

According to public information, Moore Thread was founded in 2020 by Zhang Jianzhong, the former global vice president of Nvidia. It is committed to providing the world with infrastructure and one-stop solutions for accelerated computing, and providing strong AI computing support for the digital transformation of various industries, with a full-function GPU as the core. The company's A shares were listed on the Shanghai Stock Exchange Science and Technology Innovation Board in December 2025.

According to the 2026 semi-annual report disclosed by Moore Thread, during the reporting period, the company achieved revenue of 1,736 billion yuan, an increase of 147.42%; net profit loss attributable to shareholders of listed companies was 11.56 million yuan, a year-on-year narrowing; loss after deducting non-net profit of 151 million yuan, a year-on-year narrowing; and basic earnings per share -0.02 yuan.

According to the report, revenue increased significantly compared to the same period last year, mainly due to the booming development of the artificial intelligence industry and strong market demand for full-function GPUs during the reporting period. The commercialization of the superimposed company Kua'e Intelligent Computing Cluster was accelerated, product performance was highly recognized by customers, and stable supply was achieved. The company's competitive advantage in the market was further expanded, driving rapid revenue growth.