Moore Threads, a leading domestic GPU manufacturer, saw its stock price hit the 20% daily limit down on September 7, closing at 415.48 yuan per share, with its total market capitalization falling to 195.3 billion yuan. This fluctuation was primarily due to the lifting of restrictions on approximately 25.77 million shares, which became tradable on the same day, expanding the company's float by nearly 85%. A company securities representative responded, stating that the volatility stemmed from the expansion of the circulating shares and that the company's fundamentals remained normal. This shock also impacted peers in the sector, with Muxi Technology once falling over 11% and Cambricon down nearly 2%.

Notably, Moore Threads is set to face an even larger wave of解禁 (lifting of trading restrictions) on December 7, when approximately 186 million shares, representing 39.55% of the total share capital, will become tradable. In the first half of 2026, the company reported revenue of 1.736 billion yuan, a year-on-year increase of 147.42%. Its net loss attributable to shareholders significantly narrowed to approximately -11.56 million yuan, achieving its first semi-annual profit after excluding the impact of share-based payments.