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'RISC-V First Stock' ESWIN Computing Lists in Hong Kong, Founded by 'Father of BOE' Wang Dongsheng
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On October 9, Beijing ESWIN Computing Technology Co., Ltd. officially listed on the Main Board of the Hong Kong Stock Exchange. The company is called the "first RISC-V stock," becoming the first chip stock in the capital market with RISC-V as its core architecture. ESWIN Computing is headquartered in Beijing and was founded by Wang Dongsheng, the "father of BOE" and former chairman of BOE. This listing marks the first time a RISC-V architecture chip company has landed on the Hong Kong Main Board.
Public information shows that ESWIN Computing is a chip product provider based on the RISC-V architecture. Data from Frost & Sullivan shows that the market size of China's RISC-V main control chips grew from 1.1 billion yuan in 2021 to 37.7 billion yuan in 2025, with a compound annual growth rate of 139.5%. The institution predicts that by 2030 this market size will climb to 219.4 billion yuan. This growth expectation provides broad market imagination space for RISC-V chip companies.
ESWIN Computing's core strategy is "RISC-V + AI" and it adopts a Fabless model. The company's products cover chips and system solutions in human-machine interaction and multimedia processing, interconnection, and computing fields. Its products target diverse scenarios such as consumer terminals, automotive electronics, robots, and industrial control. This layout makes its business span multiple chip application fields.
As of March 31, 2026, ESWIN Computing had cumulatively owned more than 620 IP modules and more than 20 series of RISC-V cores. The company's total patent applications exceeded 1,740, and it launched more than 150 software-hardware collaborative products. Its served customers cover 220 globally. These figures reflect the company's accumulation in RISC-V chip productization and ecosystem building.
From 2023 to 2025, ESWIN Computing's operating revenue reached 1.752 billion yuan, 2.025 billion yuan, and 2.431 billion yuan, respectively. The three-year compound growth rate was approximately 17.8%. In the first quarter of 2026, the company's revenue was 494 million yuan, a year-on-year increase of 18.4%. Continuous revenue growth provides a foundation for its subsequent R&D and market expansion.
The funds raised in this IPO will be used for iterative R&D of chip products, upgrading the capabilities of the RISAA software and hardware platform, potential strategic mergers and acquisitions, building a marketing network, and constructing the RISC-V ecosystem. The company plans to further strengthen software-hardware collaboration capabilities through the above investments. The use of proceeds also shows its hope to build a more complete ecosystem around RISC-V. With capital support, the company is expected to accelerate product iteration and market coverage.
As China's RISC-V main control chip market expands rapidly, ESWIN Computing's listing has attracted attention from the capital market. As the "first RISC-V stock," its subsequent performance will become an important window for observing the industrialization process of RISC-V. According to Frost & Sullivan forecasts, the market size will reach 219.4 billion yuan by 2030. In the future, whether the company can leverage the capital platform to expand customer coverage and improve its ecosystem is worth continued attention.
