Muxi Co., Ltd. expects first-quarter revenue to increase by over 24%, with net loss narrowing by at least 20% year-on-year

Benefiting from the rapid development of the artificial intelligence industry, Muxi Co., Ltd. expects a narrower net loss in the first quarter compared to the same period last year.

On March 4th, domestic general-purpose GPU manufacturer Muxi Co., Ltd. (688802.SH) announced that, based on preliminary calculations by the finance department, the company expects to achieve operating revenue of 400 million to 600 million yuan in the first quarter of 2026, a year-on-year increase of 24.84% to 87.26%. The net profit attributable to shareholders of the listed company is expected to be a loss of 90.7572 million to 182 million yuan in the first quarter of 2026, narrowing the loss by 21.93% to 60.97% year-on-year. The net profit attributable to the parent company’s owners after deducting non-recurring gains and losses is expected to be a loss of 50 million to 210 million yuan, a narrowing of the loss by 4.00% to 77.14% year-on-year.

Regarding the main reasons for the performance changes, Muxi Co., Ltd. stated in the announcement that during the reporting period, the company continued to drive technological innovation, increased R&D investment, deepened market expansion, steadily improved its market position and industry influence in the high-performance GPU field, and actively promoted the deep integration of artificial intelligence technology with various industries. Benefiting from the rapid development of the AI industry and relying on excellent product performance and a complete software ecosystem, the company’s products and services have been widely recognized by downstream customers, resulting in significant business growth compared to the same period last year.

On February 27th, Muxi Co., Ltd. released its 2025 performance forecast. In 2025, the company’s operating revenue was 1.644 billion yuan, a year-on-year increase of 121.26%; net profit attributable to the parent was -781 million yuan, and net profit after non-recurring gains and losses was -822 million yuan, both showing a narrowing of losses compared to the previous year. Muxi Co., Ltd. stated that during the reporting period, the company adhered to the “1+6+X” development strategy, increased market expansion efforts, continuously enhanced its market position and influence in the high-performance GPU industry, and promoted the deep integration of AI technology with various industries.

On February 4th, Muxi Co., Ltd. also issued an announcement titled “Regarding the Implementation Cycle of the Fundraising Projects and the Use of Part of the Idle Raised Funds for Stage Cash Management.” The company stated that, according to its initial public offering and listing plan, the investment projects funded by the raised capital are planned to be implemented over three to four years. Some of the raised funds will become temporarily idle during the phased investment of the projects. To optimize fund management and improve short-term financial returns, the company will scientifically and reasonably conduct phased cash management on idle funds not exceeding 2.9 billion yuan (including this amount), thereby improving the efficiency of fund utilization without affecting the normal progress of the company’s fundraising projects.

Muxi Co., Ltd. was established in September 2020 and is one of the leading domestic high-performance general-purpose GPU companies. On December 17, 2025, Muxi successfully listed on the STAR Market. According to the prospectus, Muxi focuses on the research and development of general-purpose GPU chips and has achieved technological breakthroughs in the AI chip segment, which has been long dominated by international manufacturers. The company’s product performance has reached the level of mainstream high-end processors of similar types internationally and is leading domestically. Muxi is also one of the few domestic companies that fully and systematically master core technologies such as general-purpose GPU architecture, GPU IP, advanced process GPU chips, and their underlying system software development, design, and mass production.

(Source: The Paper)