Core Viewpoint - The article discusses the growth and IPO journey of Zhaoxin Integrated, a Chinese semiconductor company aiming to become the "Chinese Intel" by developing domestic CPUs and achieving significant financial backing and government support [4][6][20]. Group 1: Company Overview - Zhaoxin Integrated has applied for an IPO on the Sci-Tech Innovation Board, focusing on domestic CPU development and achieving full control over the research and development of general-purpose processors and supporting chips [4][6]. - The company has received substantial support from various investors, leading to a valuation of 19 billion yuan [6][23]. - Zhaoxin Integrated's growth reflects the broader development of domestic CPUs in China, initiated by major technology projects since 2006 [9][8]. Group 2: Financial Performance - The company reported revenues of 340 million yuan in 2022, increasing to 555 million yuan in 2023, and projected to reach 889 million yuan in 2024 [18]. - Despite revenue growth, Zhaoxin Integrated is currently operating at a loss, with net losses expanding from 727 million yuan in 2022 to 951 million yuan in 2024 [18]. - The company plans to raise over 4.1 billion yuan through its IPO to fund new processor projects and R&D initiatives [18]. Group 3: Investment and Support - Zhaoxin Integrated has secured significant funding from various investment firms, including Guotai Junan Venture Capital and Shanghai Integrated Circuit Industry Fund, among others [5][16]. - The company has invested over 2.7 billion yuan in R&D over the past three years and approximately 1.8 billion yuan to acquire technology from VIA Technologies [14][13]. - The support from local government and investors has been crucial for Zhaoxin Integrated's rapid development and market positioning [5][11]. Group 4: Industry Context - The article highlights a wave of IPOs among domestic semiconductor companies, including Zhaoxin Integrated, which is part of a broader trend of Chinese firms aiming to establish themselves in the CPU and GPU markets [20][22]. - Other notable companies in this space include Moore Threads and Wallen Technology, which are also pursuing IPOs and have received substantial investment [20][21]. - The Chinese government is facilitating the IPO process for unprofitable semiconductor companies, indicating a supportive regulatory environment for the industry [23].