Shanghai, Jan 26, 2026, 06:40 CST — Premarket
Moore Threads Technology Co Ltd’s Class A shares (688795) were poised to open Monday after closing last week at 618.53 yuan, according to a weekly snapshot. The stock dipped 1.6% from the previous day’s 628.60 yuan and ended the week down 4.36%, with a market cap near 291 billion yuan.
The Beijing-based GPU designer made its debut on Shanghai’s STAR Market, the tech-focused exchange board, on Dec. 5, according to the Shanghai Stock Exchange. The company has rapidly turned into a high-volume benchmark for investor interest in domestically produced AI chip firms.
Moore Threads announced last week it anticipates 2025 revenue between 1.45 billion and 1.52 billion yuan, marking a jump of over 230% compared to last year. The company also expects its net loss to shrink to between 950 million and 1.06 billion yuan. It revealed that its MTT S5000 card, capable of managing both training and inference—the key phases of running AI models—is now in mass production.
Here’s the trade in a nutshell: rapid growth, but losses persist. Bulls are banking on strong demand; bears are focused on how fast expenses rise.
Moore Threads attracted buyers when it launched its IPO in December, pricing shares at 114.28 yuan each. The U.S.-blacklisted startup earned the nickname “China’s Nvidia” from some analysts. Fan Zhiyuan, a Sinolink Securities analyst, noted before the listing that “the era of AI is driving rapid expansion in GPU demand.” Reuters
Valuation risk is the flip side. New STAR Market stocks often react to positioning and policy talk just as much as earnings, particularly when profits remain uncertain.
The downside for Moore Threads is clear: slower order growth, delayed product launches, or tougher pricing could keep losses high and weigh on the stock at its current level. A wider selloff in China tech would only deepen the pressure.
Traders on Monday will be eyeing if the shares can hold steady following last week’s volatility, and if funds shift toward other semiconductor stocks or remain tied up in the largest, freshest listings.
The next key date is Feb. 6, when the company will hold an extraordinary shareholder meeting to vote on a 2026 cap for routine related-party transactions. In related filings, Moore Threads disclosed it has approved using its own cash to cover part of some IPO-funded projects, with plans to later reimburse that spending using proceeds.
