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ESWIN Computi
2026-09-22 07:56:14

ESWIN Computing Clears HKEX Hearing as BOE Founder Wang Dongsheng Takes a Second Bet on RISC-V

ESWIN Computing has passed its Hong Kong listing hearing after three filing attempts, moving a step closer to becoming what its prospectus positions as the first RISC-V-focused listing in Hong Kong. The company is tied to Wang Dongsheng, founder of BOE Technology, whose first major industry wager helped build China’s LCD panel champion and whose second venture is now centered on chips and computing infrastructure. The listing documents show a business with rising revenue but persistent losses. ESWIN Computing posted revenue of RMB 1.752 billion, RMB 2.025 billion, and RMB 2.431 billion from 2023 to 2025, while net losses over the same period came to RMB 1.837 billion, RMB 1.547 billion, and RMB 1.516 billion, totaling RMB 4.9 billion over three years. Its human-machine interaction chips, still closely tied to display-related demand, remained the main revenue source in 2025, while interconnect and computing chips grew faster but from a smaller base. The prospectus also highlights two issues investors will likely focus on after the hearing: customer concentration and commercialization of the RISC-V ecosystem. ESWIN disclosed that its largest customer contributed 82.1%, 76.8%, and 64.6% of revenue from 2023 to 2025. At the same time, the company is trying to build a broader software and hardware ecosystem around RISC-V through its RISAA platform and the broader RDI concept.

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ESWIN Computing Clears HKEX Hearing as BOE Founder Wang Dongsheng Takes a Second Bet on RISC-V
AMOLED chip designer Yunyinggu restarts A-share IPO process in Shenzhen
Hefei
2026-08-19 10:59:17

How Hefei Built a 20-Year Industrial Investment Playbook From BOE to CXMT

The listing of ChangXin Technology has pushed Hefei’s long-running industrial investment strategy back into focus. In the original MarsBit article, the city’s state-owned capital system is estimated to hold about 33.1% of the company under a neutral scenario that values ChangXin at RMB 2 trillion, implying a stake worth more than RMB 660 billion. That figure is presented as nearly half of Hefei’s projected 2025 GDP of RMB 1.4 trillion. The piece traces Hefei’s investment record across three major sectors: display panels, semiconductors, and new energy vehicles. It recounts how the city backed BOE during the 2008 financial crisis with RMB 17.5 billion for mainland China’s first TFT-LCD Gen 6 line, later exiting with roughly RMB 14 billion in net profit. It then turns to ChangXin, which the article says became the city’s highest-return investment after years of losses and heavy capital support, and to NIO, which signed with Hefei state capital and strategic investors in April 2020 before the city expanded its automotive base with BYD and Volkswagen Anhui. The article does not present Hefei’s record as a streak of perfect calls. It also lists failed projects, including Xinhao Plasma, LDK Solar, Rongsheng Heavy Industries, and WM Motor. Its central argument is that Hefei’s edge came not from luck alone, but from a full-cycle industrial investment approach spanning fundraising, deployment, post-investment management, exits, and unusually high tolerance for failure.

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How Hefei Built a 20-Year Industrial Investment Playbook From BOE to CXMT