兆芯集成科创板IPO获受理 拟募资41.69亿元

Core Viewpoint - Shanghai Zhaoxin Integrated Circuit Co., Ltd. has been accepted for an IPO on the Sci-Tech Innovation Board, aiming to raise 4.169 billion yuan [1] Company Overview - Zhaoxin Integrated specializes in the research, design, and sales of high-end general-purpose processors and supporting chips, focusing on x86 architecture CPUs, which are crucial for information security and the information industry in China [3][4] - The company is a leading domestic CPU design firm capable of serving multiple fields including desktop PCs, servers, workstations, and embedded systems, while maintaining compatibility with the x86 instruction set [3] Market Position - The x86 architecture processors dominate the desktop PC and server markets globally, primarily led by Intel and AMD, creating a duopoly [4] - Zhaoxin Integrated, along with other domestic firms like Haiguang Information and Loongson Technology, represents a growing segment of the CPU market, with Zhaoxin's products being compatible with the x86 instruction set [4] Performance and Financials - From 2022 to 2024, Zhaoxin Integrated's revenue is projected to grow from 340 million yuan to 889 million yuan, while net losses are expected to increase from 727 million yuan to 951 million yuan [5] - The company attributes its ongoing losses to significant R&D investments necessary for maintaining technological advancement in CPU development [5] IPO Utilization - The funds raised from the IPO will be allocated to projects including next-generation server processors, desktop processors, advanced process technology, and the establishment of a research and development center [5]