Recently, ASR Microelectronics has submitted its prospectus to the Hong Kong Stock Exchange, planning to list on the Main Board via an IPO.
According to the plan, the funds raised from this IPO will be used to enhance R&D capabilities and expand the product portfolio.
Founded in 2015 and located in Zhangjiang, Shanghai, ASR Microelectronics is a platform-based chip company providing wireless communication and ultra-large-scale chips. It has established multiple R&D and support centers in Beijing, Nanjing, Shenzhen, Hefei, Dalian, Chengdu, Xi'an, the United States, and Italy. In 2022, the company was listed on the SSE STAR Market of the Shanghai Stock Exchange, becoming the only listed baseband chip company in China's A-share market.
The company has built an integrated technology platform supported by multi-mode cellular baseband technology, AI (Artificial Intelligence) computing technology, and complex SoC (System on Chip) design capabilities. This platform supports three synergistic products and solutions: wireless connectivity chips centered on cellular connection, smart SoCs, and ASIC (Application-Specific Integrated Circuit) custom solutions.
By the end of 2025, ASR Microelectronics had shipped a cumulative total of over 1.6 billion chips and mass-produced over 100 new chips. From 2018 to 2025, the company achieved a revenue CAGR of 64.84% and accumulated 188 invention patents.
ASR Microelectronics is a recognized market leader in the global cellular connectivity chip industry. In 2025, ranked by shipment volume, the company ranked first in the global cellular connectivity chip market with a market share of 37.8%. From 2023 to 2025, the company's shipment growth rate exceeded that of other top-five global peers.
Cellular baseband technology is the cornerstone of the company's technology platform. Since its inception, the company has developed and commercialized generations of cellular products covering all standards from 2G to 5G, thereby accumulating complex SoC design capabilities. These encompass chip architecture, ultra-large-scale mixed-signal chip design, hardware-software co-design, system integration, and optimization of performance, power consumption, and cost.
According to Frost & Sullivan, by 2025, four of the world's top five cellular module manufacturers (including all top three) had adopted the company's wireless connectivity chips. As of June 30, 2026, the company's products have entered the supply chains of multiple leading terminal customers, covering over 130 countries and regions.
The company has also independently developed AI computing technology, including a self-developed Neural Processing Unit (NPU), which enables device-side AI processing with both robust performance and energy efficiency. The combination of cellular baseband technology, AI computing technology, and complex SoC design capabilities allows the company to seize AI chip market opportunities across device-side, edge, and cloud scenarios. Leveraging these capabilities, the company has developed smart SoCs ASR 7801 and ASR 8861 for smart device-side applications, each integrating a self-developed NPU with device-side AI computing power.
The company also provides ASIC custom solutions to hyperscale cloud service providers, leading AI enterprises, and semiconductor companies, covering cloud inference, edge/device-side AI, RISC-V, and enterprise storage. As of June 30, 2026, the company has successfully delivered dozens of ASIC custom projects, including chip designs utilizing the 4nm advanced process.
The company's ASIC customers include enterprises ranked among China's top ten AI chip companies, top five full-stack cloud service providers, and top five smart cockpit chip suppliers, as well as the world's top five XR (Extended Reality) device manufacturers.
As of June 30, 2026, the backlog of ASIC custom solutions exceeded CNY 1.5 billion, a growth of 416.5% compared to June 30, 2025.
Financially, the prospectus shows that in 2023, 2024, 2025, and the first six months of 2026, ASR Microelectronics' operating revenues were CNY 2.600 billion, CNY 3.386 billion, CNY 3.817 billion, and CNY 2.451 billion, respectively. The corresponding net profits were CNY -0.506 billion, CNY -0.693 billion, CNY -0.390 billion, and CNY 0.084 billion, respectively.
Editor | Liu Chengxing Source | Compiled from the internet