兆芯集成报考科创板上市，计划募资41.69亿元

Core Viewpoint - Shanghai Zhaoxin Integrated Circuit Co., Ltd. (Zhaoxin) has updated its IPO application status to "inquired" as it prepares for a listing on the STAR Market, with plans to raise approximately 4.169 billion yuan [1][3]. Funding and Financials - Zhaoxin plans to allocate the raised funds as follows: 1.012 billion yuan for next-generation server processors, 1.086 billion yuan for next-generation desktop processors, 1.143 billion yuan for advanced process processor R&D, and 927 million yuan for R&D center projects [3]. - The company was established in April 2013 with an initial registered capital of 100 million USD, and has undergone several rounds of financing, including a recent A+ round that raised over 1.6336 billion yuan [3][4]. - As of June 2023, Zhaoxin's registered capital is approximately 1.744 billion yuan, with major shareholders including United Investment and Shanghai IC Fund [4]. Business Operations - Zhaoxin operates under a Fabless model, focusing on the R&D, design, and sales of high-end general-purpose processors and supporting chips, without engaging in wafer manufacturing or packaging [5]. - The company has developed and mass-produced multiple generations of general-purpose processors, achieving significant advancements in core parameters, including a frequency range from 1.6 GHz to 3.7 GHz [6]. Revenue and Profitability - Zhaoxin's revenue for 2022, 2023, and 2024 is projected to be approximately 340 million yuan, 555 million yuan, and 889 million yuan, respectively, while net losses are expected to be 727 million yuan, 676 million yuan, and 951 million yuan [6][7]. - The company has experienced rapid revenue growth, with a compound annual growth rate (CAGR) of 62.78% from 2022 to 2024 [8]. R&D Investment - Zhaoxin places a strong emphasis on R&D, with expenses amounting to approximately 789 million yuan, 755 million yuan, and 678 million yuan over the past three years, representing a significant portion of its revenue [8][10]. - The company employs 566 R&D personnel, accounting for about 75.97% of its total workforce, with a high percentage of staff holding bachelor's degrees or higher [10].