# Beijing-based firm reported a net profit of 29.4 million yuan (US$4.3 million) for the January to March 2026 period.

*semiconductor · news · 2026-04-27 · South China Morning Post*

## Key points

- Moore Threads reported a net profit of 29.4 million yuan for Q1 2026, reversing a prior loss.
- Quarterly revenue for Moore Threads surged 155 percent year-on-year to 737.6 million yuan.
- Moore Threads disclosed a 660 million yuan order for its KUAE computing cluster in March.
- Founder Zhang Jianzhong, previously Nvidia's China head, pledged accelerated next-gen chip rollouts in 2026.

Shares of Moore Threads, one of China’s Nvidia challengers, jumped as much as 12.5 per cent on Monday morning on the back of a swing to a profit in the first quarter, as domestic graphics processing unit (GPU) champions capitalised on surging computing demand amid Beijing’s push for chip self-sufficiency. The Beijing-based firm reported a net profit of 29.4 million yuan (US$4.3 million) for the January to March 2026 period, compared with a net loss of 112.5 million yuan a year earlier, according to a filing to the Shanghai Stock Exchange on Sunday. Quarterly revenue jumped 155 per cent year on year to 737.6 million yuan. Its shares closed 8 per cent higher at 689.50 yuan on Monday. “In 2026, Moore Threads will continue to align with national strategies by focusing on core technology breakthroughs and accelerating the roll-out of next-gen chips,” said founder and CEO Zhang Jianzhong in the 2025 annual report released on the same day. Zhang is a former China head of Nvidia. At the end of March, the company disclosed a 660 million yuan order for its KUAE computing cluster, which is based on tens of thousands of interconnected GPUs, without revealing the client.

**Companies:** Moore Threads
**Countries:** China

[Read the full story on South China Morning Post](https://www.scmp.com/tech/article/3351492/moore-threads-posts-us43m-profit-nvidia-rival-surges-amid-beijing-chip-push)

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