IPO Pricing | ESWIN Computing listed today, with subscriptions reaching 9.09 times. The offer price was set at HK$1.55 per share, and the allocation rate for one lot exceeded 10%.

Futu News, October 9: $ESWIN COMPUTING (01256.HK)$ Announced the allocation results: the offer price was set at HK$1.55 per share, with a total issuance of 1.617 billion shares. Each lot consists of 2,000 shares, and the stock officially listed today.

During the public offering phase, ESWIN Computing received subscriptions amounting to 9.09 times the offer size. The final number of shares offered in the public tranche was 157 million shares, representing approximately 9.71% of the total offer shares. A total of approximately 18,776 valid applications were received, with about 7,649 applications accepted. The approximate percentage of allocated shares per board lot relative to the total applied shares was 10.02%.

Furthermore, during the international placement phase, ESWIN Computing received subscriptions amounting to 1.95 times the offer size. The final number of shares in the international tranche was 1.46 billion shares, equivalent to 90.29% of the total offer shares. Futu has compiled the relevant data in the table below:

Company Overview

ESWIN Computing is a Chinese provider of chip products based on the RISC-V architecture. The company adopts a fabless business model, utilizing RISC-V as its foundational computing architecture. It focuses on the R&D and design of chips, chipsets, and/or boards, as well as related core software, while outsourcing integrated circuit manufacturing, packaging, and testing to third-party service providers.

As of March 31, 2026, the company had successfully launched over 150 integrated hardware and software products into the market. During the track record period, the company served 220 customers globally, including several top-tier global corporations. According to Frost & Sullivan, ESWIN Computing was the largest provider of human-machine interaction chip products for smart terminals in China by revenue in 2025.

Financial Overview

During the Track Record Period, ESWIN Computing's revenues were RMB1,752.2 million, RMB2,025.4 million, and RMB2,431.2 million in 2023, 2024, and 2025, respectively; the Company's gross profits were RMB270.2 million, RMB357.5 million, and RMB452.9 million in 2023, 2024, and 2025, respectively; and the Company incurred losses for the year/period of RMB1,837.5 million, RMB1,547.4 million, and RMB1,515.8 million in 2023, 2024, and 2025, respectively.

Source: Prospectus

Use of Proceeds

Regarding the use of proceeds, the net proceeds from ESWIN Computing's global offering amounted to approximately HK$2.386 billion (calculated based on an offer price of HK$1.55 per share). According to the prospectus, ESWIN Computing intends to use the funds raised from the global offering for the following purposes:

Approximately 35% will be used for the development and iteration of the Company's HCI and multimedia processing chip products, as well as interconnect and computing chip products; approximately 30% will be used to enhance the capabilities of the Company's software and hardware technology platforms and improve an open, flexible, and reusable R&D system; approximately 15% will be used for potential strategic acquisitions; approximately 10% will be used to build and expand the Company's global commercialization network; and approximately 10% is expected to be used for working capital and general corporate purposes.

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Edited by/Joe

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