Core Viewpoint - Yiswei Computing, a leading RISC-V chip company, has officially submitted its IPO application to the Hong Kong Stock Exchange, marking a significant milestone in the AI sector led by Wang Dongsheng, founder of BOE Technology Group [2][6]. Company Overview - Yiswei Computing was established in 2019 and focuses on RISC-V computing architecture, providing specialized algorithms and IP modules to create efficient hardware and software platforms for global clients [6]. - The company aims to deliver intelligent terminal solutions for consumer electronics and smart IoT applications, enhancing smart home, office, and portable scenarios [6]. Financial Performance - Revenue projections for Yiswei Computing from 2022 to 2024 are 2 billion, 1.752 billion, and 2.025 billion yuan, with gross margins of 25.9%, 15.4%, and 17.7% respectively [8]. - The company has maintained high R&D investments, with expenditures of 1.44 billion, 1.445 billion, and 1.337 billion yuan from 2022 to 2024, representing 72%, 82.5%, and 66% of annual revenues [8]. - Cumulatively, Yiswei Computing's revenue from 2022 to 2024 is projected to be 5.777 billion yuan, with total losses amounting to 4.954 billion yuan [9]. Market Position - Yiswei Computing is recognized as the largest provider of intelligent terminal human-computer interaction solutions in China, according to Frost & Sullivan [6]. - The company is also the leading provider of RISC-V custom solutions in China, with the highest number of RISC-V mass production solutions expected by 2024 [7]. Investment and Funding - Since its inception, Yiswei Computing has completed four funding rounds, raising over 9 billion yuan from various investors, including IDG Capital and other notable firms [9].

Core Viewpoint - Beijing Yiswei Computing Technology Co., Ltd. is set to become the "first RISC-V stock" as it submits its IPO application to the Hong Kong Stock Exchange, aiming for a main board listing [2][3]. Group 1: Company Overview - Founded in 2019, Yiswei Computing utilizes a new generation RISC-V computing architecture to provide system-level solutions for global clients, focusing on consumer electronics and smart IoT applications [3][4]. - The company is recognized as the largest provider of intelligent terminal human-computer interaction solutions in China, according to Frost & Sullivan, based on projected 2024 revenue [3]. Group 2: Product Offerings - Yiswei Computing offers solutions for smart cars, robots, and industrial applications, including a RISC-V intelligent computing system solution that features a 64-bit high-performance core, applicable in machine vision and industrial inspection [4]. - The company has commercialized over 100 system-level solutions by the end of 2024, serving more than 100 global clients [4]. Group 3: Financial Performance - Revenue figures for Yiswei Computing from 2022 to 2024 are as follows: 2 billion yuan, 1.752 billion yuan, and 2.025 billion yuan, with corresponding gross margins of 25.9%, 15.4%, and 17.7% [4]. - The company maintains high R&D investment, with expenditures of 1.44 billion yuan, 1.445 billion yuan, and 1.337 billion yuan from 2022 to 2024, representing 72.0%, 82.5%, and 66.0% of annual revenue respectively [5]. Group 4: Funding and Future Plans - Yiswei Computing has completed four rounds of financing, raising over 9 billion yuan, with investors including IDG Capital and others [5]. - The net proceeds from the IPO will be used to enhance intelligent terminal and embodied intelligence solutions, improve software and hardware capabilities, pursue strategic acquisitions, and expand marketing networks to strengthen global competitiveness [5].