On July 31, 2026, Beijing ESWIN Computing Technology Co., Ltd. ("ESWIN Computing"), headquartered in the Beijing Economic-Technological Development Area, filed a prospectus with the Hong Kong Stock Exchange, seeking a listing on the Main Board of the Hong Kong Stock Exchange. This marks its third application following the expiration of two prior submissions on May 30, 2025, and January 30, 2026.
On June 18, 2026, ESWIN Computing received an overseas listing filing notification from the China Securities Regulatory Commission (CSRC), permitting the issuance of up to 2.46524 billion ordinary shares for overseas listing. Additionally, 49 shareholders intend to convert their combined holding of 8,585,990,770 unlisted domestic shares into overseas-listed shares for trading on The Stock Exchange of Hong Kong Limited.
ESWIN Computing Prospectus Link
Core Business
Founded in 2019, ESWIN Computing is a fabless semiconductor company leveraging the RISC-V computing architecture. It focuses on the research, development, and design of chips, chipsets, boards, and related core software, offering intelligent terminal chip products as well as interconnect and computing chip products.
As of March 31, 2026, ESWIN Computing had successfully launched over 150 hardware-software co-designed products to the market, serving more than 220 global customers, including several world-leading enterprises. According to Frost & Sullivan, in 2025,
by revenue, ESWIN Computing was China’s largest domestic provider of intelligent terminal human-machine interface (HMI) chip products.
As of March 31, 2026, ESWIN Computing had accumulated over 620 IP modules, more than 20 series of RISC-V cores, and over 1,740 patent applications related to its products. The company serves on the board of directors of RISC-V International and holds the rotating chairmanship of the RISC-V Working Committee under the China Electronics Standardization Association.
ESWIN Computing’s revenue primarily derives from sales and delivery of intelligent terminal chips, interconnect and computing products, as well as licensing services.
Intelligent Terminal Chip Products
ESWIN Computing provides intelligent terminal solutions to consumer electronics and smart IoT companies, enabling applications in home, office, and portable scenarios with capabilities such as sensing, multimedia processing, human-machine interaction, and intelligent control. The company’s intelligent terminal chip products fall into two categories: human-machine interface (HMI) chip products (chipsets handling input and/or output functions at the display end) and multimedia processing chip products (system-on-chip, or SoC, solutions responsible for multimedia signal processing at the system level).
Interconnect and Computing Products
ESWIN Computing equips customers in the automotive, robotics, and industrial sectors with the capability to perceive, process, and intelligently respond to their environments in real time. The company’s embodied intelligence chip products are further categorized into two main types: interconnect chip products and computing chip products.
Licensing and Services
ESWIN Computing generates a portion of its revenue by (i) granting customers licenses to use proprietary IP modules—enabling them to customize their own processing hardware for their products—for which it charges licensing fees, or (ii) providing fee-based technical services to customers. The company typically sets licensing fees based on the complexity, maturity, and diversity of the IP modules involved.
Shareholding Structure
According to the prospectus, prior to its listing in Hong Kong, ESWIN Computing’s shareholder structure included:
Mr. Wang Dongsheng, Mr. Mi Peng, Mr. Yang Xinyuan, Mr. Liu Huanping, and other shareholders acting in concert collectively held approximately 31.55% of the shares through ESWIN Group, Yili Technology, and Yixiang Technology.
Other investors include IDG Capital, Legend Capital, Zhongxing Capital, Bohua Capital, and Gaorong Capital.
Directors and Senior Management
The board of directors of ESWIN Computing comprises 12 directors, including:
4 executive directors:
Mr. Wang Dongsheng (Chairman of the Strategy and Investment Committee);
Mr. Wang Bo (Deputy Chairman and Vice Chairman of the Strategy and Investment Committee);
Mr. Mi Peng (Chairman and Chief Executive Officer);
Mr. Hu Weihao (President and Chief Operating Officer);
Four non-executive directors:
Mr. Li Jiaqing (President of Legend Capital);
Dr. Yu XinHua (Partner at IDG Capital);
Mr. Zhang Shuai (General Manager of a Department at China IC Capital);
Ms. Liu Feihong (Chief Investment Officer of HuaJin Capital (000532.SZ));
4 Independent Non-Executive Directors:
Mr. Zhu Hehua (Independent Director of BOE Jingdian, Guolian Minsheng, etc.);
Dr. Lü Wendong (Professor at the School of Business, University of International Business and Economics);
Dr. Zhang Chun (Director of an Institute at Tsinghua University);
Dr. Zhang Xiaojun (Associate Professor, Department of Accounting, Guanghua School of Management, Peking University).
In addition to executive directors, senior management also includes:
Dr. He Ning (Senior Vice President and Chief Technology Officer);
Ms. Li Yang (Chief Financial Officer).
Ms. Bu Tian (Company Secretary and Joint Company Secretary).
Company performance
According to the prospectus, Yiswei Computing's revenue for the past fiscal years 2023, 2024, and 2025, as well as for the first three months of 2026, amounted to RMB 1.752 billion, RMB 2.025 billion, RMB 2.431 billion, and RMB 494 million, respectively, with corresponding net losses of RMB 1.837 billion, RMB 1.547 billion, RMB 1.516 billion, and RMB 375 million.
Intermediary Team
The intermediaries for Yiswei Computing’s IPO primarily include:
China International Capital Corporation Limited and CSCI International as its sponsors;
KPMG as its auditor;
Jingtian & Gongcheng as its PRC legal counsel;
Davis Polk & Wardwell serves as the company’s Hong Kong and U.S. legal counsel;
Commerce & Finance Law Firm served as China legal counsel to its sponsor;
Clifford Chance as its Hong Kong and U.S. securities counsel.
Hongbo Capital as compliance adviser;
Frost & Sullivan served as its industry consultant.