中文：9 月 7 日 A 股早盘，国产算力芯片标杆企业摩尔线程迎来大幅波动，股价快速跳水封死 20cm 跌停，创下上市以来历史新低。截至盘面更新，个股报价 415.48 元，公司总市值直接跌破 2000 亿元关口，成为当日 A 股算力板块最大热点事件，引发市场投资者广泛热议。
English：On the morning of September 7, A-share domestic computing chip leader MThreads suffered a sharp stock price fluctuation and hit a 20% daily limit down, setting a new record low since its listing. The stock was priced at 415.48 RMB, with its total market value falling below 200 billion RMB, becoming the most noteworthy event in the A-share computing sector.
中文：针对本次突发跌停行情，摩尔线程官方作出正式回应。公司证券部门表示，本次股价波动核心诱因，是当日迎来首发网下配售股份解禁窗口，共计超 2500 万股限售股正式上市流通。本次解禁股份均来自上市初期参与打新的公募基金及各类网下机构，属于资本市场正常的限售到期流通行为。
English：MThreads officially responded to the sudden plunge. The company’s securities department stated that the fluctuation was mainly caused by the expiration of restricted shares. More than 25 million restricted shares issued through offline placement became tradable. These shares were held by public funds and institutional investors from the IPO stage, belonging to normal capital market operations.
中文：受大额限售股解禁、流通盘大幅扩容影响，市场短期抛压激增，进而带动股价剧烈震荡。摩尔线程方面呼吁广大投资者理性看待本次股价波动，甄别短期市场情绪扰动，无需过度恐慌，理性做出投资决策。
English：The massive expansion of tradable shares triggered surging short-term selling pressure and sharp stock price volatility. MThreads advised investors to view the stock fluctuation rationally, distinguish short-term market sentiment disturbances, and make calm investment decisions.
中文：结合最新出炉的 2026 年中报数据，摩尔线程整体经营呈现“营收高增、仍处亏损”的行业成长特征。数据显示，公司上半年总营收达 17.36 亿元，同比大幅增长 147.42%，业务扩张势头强劲；但归母净利润为负值，亏损 1156.31 万元，贴合高端芯片企业研发投入大、盈利周期长的行业特性。
English：According to the 2026 semi-annual report, MThreads achieved rapid revenue growth while still in the growth stage of losses. Its H1 revenue reached 1.736 billion RMB, a year-on-year increase of 147.42%, showing strong business expansion momentum. The net profit attributable to parent companies was -11.56 million RMB, which is typical for high-end chip enterprises with heavy R&D investment.
中文：拆分单季度业绩来看，第二季度表现亮眼，单季营收 9.99 亿元，同比增幅高达 141.88%，延续高增长态势。不过季度归母净利润亏损 4092.23 万元，相较一季度亏损幅度有所扩大，主要源于持续加码芯片研发、技术迭代带来的高额成本投入。
English：In Q2 2026, the company achieved a single-quarter revenue of 999 million RMB, up 141.88% year-on-year, maintaining high growth. However, the Q2 net loss expanded to 40.92 million RMB, mainly due to continuous high investment in chip R&D and technological iteration.
中文：整体而言，本次摩尔线程跌停属于典型的解禁驱动型短期行情波动，并非公司基本面恶化。超高营收增速印证其国产算力芯片赛道的成长潜力，而阶段性亏损是科技硬核企业发展的必经阶段，后续走势仍需重点关注产能释放与盈利拐点落地情况。
English：Overall, the plunge is a short-term fluctuation driven by restricted share lifting rather than fundamental deterioration. The surging revenue growth proves its growth potential in the domestic computing chip track, while staged losses are inevitable for hard-core tech enterprises. Its subsequent trend depends on capacity expansion and profit turning points.
