Core Viewpoint - Beijing Yiswei Computing Technology Co., Ltd. is advancing its IPO process on the Hong Kong Stock Exchange, aiming to become the first publicly listed company focused on RISC-V architecture in China [2] Group 1: Company Overview - Founded in 2019, Yiswei Computing utilizes a new generation of RISC-V computing architecture to provide system-level solutions globally, with a focus on specialized algorithms and IP modules [2] - The company has developed two main business matrices: smart terminal chips and embodied intelligence chips, catering to various applications including home, office, automotive, and industrial scenarios [2] Group 2: Market Potential - The global RISC-V main control chip market is projected to grow from 1.1 billion in 2020 to 56.5 billion by 2024, with a compound annual growth rate (CAGR) of 166.6%, and further to 440.4 billion by 2029 at a CAGR of 38.7% [3] - RISC-V's penetration in the smart terminal chip market is expected to rise from 0.1% in 2020 to 1.3% in 2024, and further to 11.8% by 2029 [3] - In the embodied intelligence chip market, penetration is anticipated to increase from 0.4% in 2020 to 6.4% in 2024, reaching 19.1% by 2029 [3] Group 3: Product and Financial Performance - As of September 30, 2025, Yiswei Computing has commercialized over 130 products and serves more than 110 global clients, making it the largest provider of RISC-V mass-produced chips in China by product quantity [4] - The company's revenue for 2023 and 2024 was 1.752 billion and 2.025 billion respectively, showing year-on-year growth; revenue for the first three quarters of 2025 increased by 22.4% to 1.541 billion compared to the same period in 2024 [4] - Adjusted net losses have decreased from 1.704 billion in 2023 to 1.440 billion in 2024, and further to 854 million in the first three quarters of 2025, indicating a clear improvement trend [4] Group 4: Funding and Future Plans - Yiswei Computing has completed four rounds of financing totaling over 9 billion RMB, with notable investors including IDG Capital and others [4] - The funds raised from the IPO will primarily be used to enhance smart terminal and embodied intelligence solutions, improve hardware and software capabilities, pursue strategic acquisitions, expand marketing networks, and support general corporate purposes [4]