Back
China’s Moore Threads Soars Over 400% on Market Debut After $1.1B Listing

China’s Moore Threads Soars Over 400% on Market Debut After $1.1B Listing

Moore Threads’ STAR Market debut at 650 yuan per share surged nearly 469%, reaching over 300 billion yuan in value despite heavy losses since 2022.

BTC
ETH

Summary

Moore Threads launched on China’s STAR Market at 650 yuan per share, soaring 468.78% from its IPO price and pushing its market capitalization beyond 300 billion yuan. Despite reporting cumulative losses of 59.39 billion yuan from 2022 to 2025, early backers such as Tencent secured gains exceeding 35 times their original investments. The successful listing revived attention to co-founder Li Feng’s past crypto controversies, including a 2017 ICO that raised 5,000 ETH and a 2018 dispute involving 1,500 BTC allegedly not returned.

Terms & Concepts
  • Initial Public Offering (IPO): The process by which a private company offers shares to the public for the first time to raise capital.
  • Chipmaker: A company that designs and manufactures semiconductor devices used in computers, electronics, and other digital equipment.
  • ICO (Initial Coin Offering): A fundraising method in the cryptocurrency industry where new tokens are sold to investors, typically to finance a blockchain-based project.