On October 28, domestic GPU leader Moore Threads Technology Co.,Ltd. (688795.SH) released its Q3 2026 earnings report: Q3 revenue reached 1.55 billion yuan, a quarterly record high, up 1,773.9% year-over-year; first three quarters revenue totaled 3.29 billion yuan, up 319.1% year-over-year; revenue for the trailing twelve months ended at the reporting date reached 4.01 billion yuan, leading the domestic GPU industry.
The company turned profitable, with Q3 net profit attributable to shareholders of 49.26 million yuan and non-GAAP net profit attributable to shareholders of 20.07 million yuan, far ahead of its original 2027 profitability target; first three quarters gross profit was 1.77 billion yuan, up 263.9% year-over-year, with gross margin firmly in the top tier of domestic GPU makers, and net profit attributable to shareholders of 37.697 million yuan.
On the commercialization front, intelligent computing products based on Moore Threads' MTT S5000 have won high recognition in both model training and inference. Its diverse customer matrix covers internet and cloud service providers, token service providers, AI innovation enterprises, telecom operators and intelligent computing centers, research and government-enterprise clients, and industry customers.
The PD-disaggregated heterogeneous inference solution based on the S5000 outperforms international advanced computing solutions in cost-performance ratio and has already handled real token traffic from leading domestic model makers. Meanwhile, the company is deepening cooperation with JD Cloud to build a 100,000-card full-function GPU cluster, focusing on key areas such as large model training, inference and embodied intelligence, to advance the industrialization of physical AI.
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