Visual AI chip unicorn goes public in Hong Kong, CoreAI Microelectronics revenue surges by 327%! Seizing opportunities in drones and AR glasses | Hong Kong E-voice

Source: Times Business Research Institute Author: Times Business Research Institute

Source: Times Business Research Institute

Author: Intern Chen Jiajie

Editor: Zheng Lin

On January 28, 2026, Hefei CoreAI Microelectronics Co., Ltd. (hereinafter referred to as 'CoreAI Microelectronics') officially submitted its listing application to the Hong Kong Stock Exchange, with Huatai International acting as the sole sponsor. As a visual processing AI system-on-chip (SoC) design company, CoreAI Microelectronics is committed to providing high-performance self-developed core chips for innovative technology sectors. Relying on three core technologies, it empowers industrial intelligent upgrades through communication, edge-side chips, and their solutions.

CoreAI Microelectronics adopts a fabless operation model, focusing on providing visual processing AI SoCs and solutions for fields such as drones, smart IoT (e.g., robotic vacuum cleaners, security cameras), and smart wearable devices (e.g., AR glasses). The company's core competitiveness lies in its self-developed image signal processing (ISP), neural processing unit (NPU), and wireless transmission technologies, offering end-to-end solutions.

The company combines its self-developed intellectual property (IP), covering high-precision multispectral and thermal imaging perception technology, high-performance low-power computing technology of its self-developed NPU, and long-distance low-latency anti-interference wireless transmission technology. According to the prospectus, as of September 30, 2025, the company holds 14 software copyrights in China. In addition, the company has launched several industry-first products, such as the world’s first consumer-grade wireless HD video transmission SoC launched in 2012 and the world’s first smart drone main control SoC supporting up to eight camera interfaces launched in 2018, demonstrating its advantages in product definition and technological leadership. According to Frost & Sullivan, based on 2024 sales revenue, CoreAI Microelectronics ranked eighth in China’s fragmented visual processing AI SoC market.

In terms of financial data, according to the prospectus, CoreAI Microelectronics’ revenue surged from 105 million yuan in 2023 to 449 million yuan in 2024, an increase of 327.3%. Revenue for the first three quarters of 2025 was 341 million yuan, almost flat compared to 343 million yuan during the same period in 2024, indicating that the company has entered a stable phase after rapid growth. With the expansion of revenue scale, the proportion of sales, administrative, and research and development expenses to total revenue significantly decreased. The operating condition improved notably, with operating losses narrowing from 222 million yuan in 2023 to 87 million yuan in 2024, and the company successfully turned profitable in the first three quarters of 2025, recording a net profit of 50.825 million yuan.

To some extent, CoreAI Microelectronics' operating performance relies on major customers and suppliers. According to the prospectus, during the performance record period, the combined revenue from the top five customers accounted for a significant portion of total revenue; at the same time, purchases from the top five suppliers also remained at a relatively high level. This dual concentration pattern exposes the company to potential operational risks due to changes in relationships with key customers or suppliers.

CoolChip Microelectronics' IPO in Hong Kong aims to leverage the capital market to further expand its technological edge and market share in the rapidly growing visual AI chip sector. Its demonstrated technical capabilities, improving financial trends, and position within a prime growth industry are noteworthy.

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