Moore Threads, a leading domestic GPU maker, hit the 20 percent daily limit-down at one point on September 7, the first day that 25.7745 million restricted shares became tradable, with its share price falling to a record low since listing and total market value dropping below 200 billion yuan. The unlocked restricted shares are from the initial public offering's offline placement, accounting for 5.48 percent of the company's total share capital, with the listing and trading date set for September 7, 2026. Moore Threads listed on the STAR Market on December 5, 2025, at an issue price of 114.28 yuan per share. Its share price surged to a record high of 941.08 yuan per share on the fifth trading day after listing, and has since fluctuated downward. If sold at today's limit-down price of 415.48 yuan per share, each offline placement restricted share could earn 301.2 yuan. In the first half of 2026, Moore Threads achieved operating revenue of 1.736 billion yuan, up 147.42 percent year on year, while net profit attributable to the parent company was negative 12 million yuan, narrowing losses compared with the same period last year. Another leading domestic GPU maker, MetaX, fell 9.67 percent today, with its share price down 37.31 percent from its mid-July high. MetaX reported net profit attributable to the parent company of 612 million yuan in the first half of 2026, turning from loss to profit year on year, but fair value changes during the reporting period reached as high as 887 million yuan, accounting for 105.75 percent of total profit. Excluding that item, total profit was actually negative.
