On December 17, 2025, Metax Integrated Circuits (Shanghai) Co., Ltd. (688802.SH, "Metax IC") successfully listed on the Shanghai Stock Exchange's STAR Market. The IPO raised RMB 4.197 billion, with Huatai United Securities serving as the exclusive sponsor and lead underwriter. This marks the largest IPO in the Yangtze River Delta region over the past two years and the fastest IPO filing completion from the financial data benchmark date under the comprehensive registration-based system.
The "15th Five-Year Plan" emphasizes "accelerating high-level technological self-reliance," setting the course for innovation-driven development. As a leading domestic developer of high-performance general-purpose GPUs, Metax IC's listing aligns with national strategic emerging industry integration trends, reflects achievements under the STAR Market's "1+6" reform policies, and represents a critical step in China's AI industry localization and long-term growth. The successful IPO also enables this pre-profit tech innovator to overcome development bottlenecks and accelerate commercialization of R&D breakthroughs.
Metax IC specializes in fully self-developed high-performance GPU chips and computing platforms. Since its founding, the company has focused on GPU and AI innovation, assembling an R&D team with global industry insights, cutting-edge GPU expertise, and rare mass-production experience. Its flagship product, the Xiyun C-series training-inference integrated GPU chip, features entirely proprietary GPU IP, instruction sets, and architecture, achieving domestic leadership in versatility, single-card/cluster performance, stability, ecosystem compatibility, and migration efficiency. By March 2025, Metax IC had sold over 25,000 GPUs, deploying them at national AI computing platforms, telecom operator AI centers, and commercial AI data centers.
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