Leading AI chip company MuXi Co., Ltd. with a market cap of 240 billion, revenue surged by 121%

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Reporter | Jin Shan

Editor | Li Yutong

On the evening of March 26, Mu Xi Co., Ltd., a leading company in compute power chips, released its first annual report since going public.

The annual report shows that in 2025, Mu Xi Co., Ltd. achieved operating revenue of 1.644 billion yuan, a year-on-year increase of 121.26%; net profit attributable to shareholders of the listed company was a loss of 789 million yuan, compared with a loss of 1.409 billion yuan in the same period last year, with the loss narrowing by 43.97%. Among them, the company’s R&D expenditure accounted for 62.49% of operating revenue.

Given that as of the end of 2025, the parent company’s financial statements had negative undistributed profits, it does not meet the conditions for cash dividends. Mu Xi Co., Ltd. plans not to distribute cash dividends for 2025, not to issue bonus shares, and not to increase share capital by converting capital reserve funds into share capital.

As of the end of 2025, Mu Xi Co., Ltd.’s cumulative sales of GPU products exceeded 55,000 units.

Mu Xi Co., Ltd. was listed on the Shanghai Stock Exchange’s STAR Market on December 17, 2025. By the close on March 26, its share price was 605.81 yuan per share, with a latest market value of 242.4 billion yuan.

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