Moore Threads, often referred to as 'China's Nvidia,' experienced a remarkable 416% surge on its 科创板 debut on December 5. The stock opened at 650 yuan per share, significantly surpassing its IPO price of 114.28 yuan, and peaked at 688 yuan. This performance resulted in a staggering 6,262x return for early investor Peixian Qianyao. The IPO, which attracted 267 institutional bidders, raised approximately 8 billion yuan, marking it as the largest 科创板 listing of the year. Despite the company's ongoing losses, it maintains a 122x price-to-sales ratio, underscoring high market expectations for its MUSA architecture-based GPUs and potential future growth.