Physix Frontier · News Briefing Card (IT Home · Oct 9, 2026)

ESWIN Computing Debuts on HKEX as First RISC-V Chip Stock

KEY FACTS

ESWIN Computing listed on the Main Board of the Hong Kong Stock Exchange on October 9.
The company was founded by former BOE chairman Wang Dongsheng and is headquartered in Beijing.
The company operates on a fabless model, with its core strategy built around RISC-V plus AI.
As of March 31, 2026, the company held more than 620 IP modules and over 20 series of RISC-V cores.
In the first quarter of 2026, the company posted revenue of 494 million yuan, up 18.4% year over year.

KEY DATA

377亿元2025 China RISC-V main control chip market size

139.5%2021-2025 market CAGR

2194亿元2030 projected market size

18.4%2026 Q1 revenue YoY growth

PHYSIX OBSERVATION

RISC-V has moved from academia to the public capital markets, and ESWIN's listing opens a third financing channel for domestic chips beyond x86 and Arm. But its three-year revenue CAGR is just 17.8%, far below the market's explosive growth curve, showing that RISC-V main control chips are still landing more slowly than capital expects. Ecosystem building is the harder next hurdle than going public.

Source: IT Home report