Domestic GPU maker Moore Threads reported third-quarter revenue of 1.552 billion yuan, up 1,773.92% year on year, with net profit of 49.26 million yuan, turning profitable, according to its October 28 quarterly report carried by China National Radio and China Securities Journal.
For the first nine months, revenue reached 3.289 billion yuan, up 319.15%, with net profit of 37.70 million yuan also swinging to profit; the company attributed growth to surging demand for quality compute and full-function GPUs, and to its strategic build-out of three 'AI factories' - model training, token production and agent production - with the MTT S5000 compute product winning customer recognition.
Third-quarter R&D spending reached 571 million yuan, up 87.89%, and nine-month R&D hit 1.34 billion yuan, up 55.72%, already exceeding its full-year 2025 total, as it accelerates development of a next-generation 'Huagang' architecture.
The result is among the clearest signals that China's domestic GPU sector has moved from 'able to ship' to 'able to profit' as AI infrastructure spending accelerates.
Source: China National Radio / China Securities Journal / China News Service (paraphrased and translated from Chinese media; reprinted for informational purposes with attribution).
