Shenzhen's Luohu district marked a major milestone in December as the Smart Connectivity Industry Fund, partially backed by the Luohu Guidance Fund, celebrated the STAR Market debuts of two leading GPU companies in its portfolio.

On Dec. 5, Moore Threads (Stock Code: 688795), a key investee of the fund, was listed on China's Nasdaq‑style Science and Technology Innovation Board, known as the STAR Market. Its market capitalization briefly exceeded 400 billion yuan, drawing strong attention from investors and the semiconductor sector.

Twelve days later, MetaX Integrated Circuits (Stock Code: 688802) made its debut on the same board. The stock opened at 700 yuan per share, a jump of 568.83% above its issue price, and reached an intraday peak valuation close to 360 billion yuan.

The back-to-back listings of these two high-profile GPU innovators not only underscore their technological strength and market recognition, but also highlight the early outcoms of Luohu's "fund + industry" development strategy aimed at cultivating hard-tech enterprises.

To date, the Luohu District People's Government has participated in 17 industrial funds with a combined scale of 55 billion yuan, providing capital support for key enterprises, emerging industries, innovation and entrepreneurship, and companies pursuing domestic or overseas listings.