Moore Threads (688795.SH) reported first-half 2026 interim revenue of RMB 1.736 billion, a year-over-year increase of 147.42%, driven by surging domestic demand for computing power and accelerated deployment of multi-thousand-GPU intelligent computing clusters. Its net loss attributable to shareholders narrowed by 95.73% to RMB -115.6 million, nearing full break-even. The company is planning to issue H-shares and list on the Main Board of The Stock Exchange of Hong Kong Limited. Revenue growth was primarily due to accelerated commercialization of KUAE intelligent computing clusters and stable product supply; a RMB 660 million operational sales contract signed in March was fully delivered and recognized as revenue. Gross profit reached RMB 989 million, up 103.78% year-over-year, with an overall gross margin of 56.95%. Excluding non-recurring gains and losses, net loss attributable to shareholders was RMB -1.51 billion, a 52.37% narrowing. Basic earnings per share improved from RMB -0.68 to RMB -0.02. R&D investment totaled RMB 769 million, up 38.16% year-over-year, accounting for 44.30% of revenue. The company employed 1,019 R&D personnel, representing 74.16% of its total workforce. R&D efforts focus on the next-generation 'Huagang' architecture, enhancing low-precision mixed-compute formats such