On the evening of December 8, the online lottery results for domestic GPU manufacturer Muxi's IPO were released.
According to the disclosure, the issuer and underwriter conducted a lottery draw for Muxi's initial public offering (IPO) on the morning of December 8. The winning numbers were as follows: the last four digits were 6116, 1116, and 8507; the last five digits were 54574, 04574, and 35184, among others.
Investors who participated in the online subscription of Muxi's A-shares and whose subscription numbers match the above results are considered winners. A total of 19,331 winning numbers were drawn, with each winning number entitled to subscribe to 500 Muxi A-shares.
The announcement also revealed that the payment and allocation for the strategic placement have been completed. All 10 strategic investors fulfilled their commitments. Among them, Huatai Innovation, a subsidiary of the underwriter participating in the STAR Market follow-on investment, was allocated 955,500 shares, accounting for 2.38% of the total issuance, with an allocation amount of approximately RMB 100 million and a 24-month lock-up period. The company’s executives and core employees, through a dedicated asset management plan, were allocated 821,600 shares (2.05% of the issuance), with an allocation amount of approximately RMB 85.98 million and a 12-month lock-up period.
The National Artificial Intelligence Industry Investment Fund and Tianyi Capital (wholly owned by China Telecom) were each allocated 955,500 shares (2.38% of the issuance), with an allocation amount of approximately RMB 100 million and a 12-month lock-up period. Yingfeng Group received 859,900 shares (2.14% of the issuance), with an allocation amount of around RMB 90 million and a 12-month lock-up period.
As per the earlier issuance announcement, the issuer and underwriter agreed to set the total issuance at 40.1 million shares, with an initial strategic placement of 8.02 million shares (20% of the issuance). The final strategic placement was adjusted to 7.605419 million shares (18.97% of the issuance), with an issue price of RMB 104.66 per share.
Data from the Shanghai Stock Exchange showed that the online offering attracted 5.1752 million valid subscriptions, totaling 28.862 billion shares. The preliminary online lottery rate was 0.02223023%. After the clawback mechanism was triggered, the final lottery rate stood at 0.03348913%, lower than that of another listed GPU manufacturer, Moore Threads (0.03635054%).
Muxi reminded investors to "pay close attention to the payment process and fulfill their obligations by December 9 (T+2)."
Founded in September 2020, Muxi focuses on the independent R&D of full-stack high-performance GPU chips and computing platforms. Its core business includes designing and selling GPUs for AI training, inference, general computing, and graphics rendering, along with supporting software and computing platforms.
The company aims to raise RMB 4.197 billion through this IPO. After deducting issuance costs of RMB 298 million (excluding VAT), the net proceeds are expected to be RMB 3.899 billion. The funds will primarily be allocated to projects such as "R&D and Industrialization of New High-Performance General-Purpose GPUs," "Next-Generation AI Inference GPU R&D and Industrialization," and "High-Performance GPU Technology R&D for Emerging Applications."
Muxi stated in its prospectus, "This year, the commercialization of our core integrated training-inference GPU series has progressed steadily, with shipments increasing significantly, driving substantial revenue growth compared to the same period last year. As revenue grows rapidly, the company’s losses have narrowed considerably."
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