From October 20-22, by the banks of Shanghai's Huangpu River, the 2026 Sustainable Global Leaders Conference returns. Nobel and Turing Award winners will speak on-site about the future and trends of technology, and the internet-famous professors who "rescue" people from anxiety and the era of involution — Macfarlane and Xiang Biao — will hold a live dialogue!

Limited seats, first come first served. Let us join together for the sustainable appointment! [Click to register] For stock trading, look at the Jin Qilin analyst research report — authoritative, professional, timely, comprehensive, helping you uncover potential thematic opportunities! Source: Leidi Leidi.com Lei Jianping October 9. ESWIN COMPUTING (01256), which listed last week, has seen its stock price continue to decline recently. As of today's close, the company's stock price was HK$1.36, down 12% from the issue price, and its market capitalization has fallen to HK$30 billion.

ESWIN COMPUTING globally offered approximately 1.617 billion H shares at an issue price of HK$1.55, raising a total of HK$2.5 billion. After deducting listing expenses payable of HK$121 million, the net fundraising amount was HK$2.386 billion. The cornerstone investors of ESWIN COMPUTING are E-Town Shenghai Fund, Hefei Construction Investment, Haiyao Industrial, Qizhong International, GBAHIL, CITIC Asset Management Hong Kong, Delin Resources, Orix, and Grit No.1 Equity Fund, which together subscribed for HK$1.161 billion.

Among them, E-Town Shenghai Fund subscribed for HK$348 million, Hefei Construction Investment subscribed for HK$173 million, Haiyao Industrial subscribed for HK$155 million, Qizhong International subscribed for HK$75 million, GBAHIL subscribed for HK$118 million, CITIC Asset Management Hong Kong and Delin Resources each subscribed for HK$100 million, Orix subscribed for HK$33 million, and Grit No.1 Equity Fund subscribed for HK$60 million. Based on this calculation, E-Town Shenghai Fund, Hefei Construction Investment, Haiyao Industrial, Qizhong International, GBAHIL, CITIC Asset Management Hong Kong, Delin Resources, Orix, and Grit No.1 Equity Fund are all in a floating loss position, with E-Town Shenghai Fund down HK$42.46 million and Hefei Construction Investment down HK$21.11 million.

Annual Revenue of 2.4 Billion Yuan, Net Loss of 1.5 Billion Yuan

ESWIN COMPUTING focuses on two core application scenarios: intelligent terminals and embodied intelligence. It is adopting a new-generation RISC-V computing architecture, innovating domain-specific algorithms and IP modules, and building an efficient and open software and hardware platform to provide customers with highly competitive system-level solutions. The prospectus shows that ESWIN COMPUTING's revenue for 2023, 2024, and 2025 was 1.752 billion yuan, 2.025 billion yuan, and 2.43 billion yuan, respectively; gross profit was 270 million yuan, 358 million yuan, and 453 million yuan, respectively; and losses for the year were 1.837 billion yuan, 1.547 billion yuan, and 1.516 billion yuan, respectively.

ESWIN COMPUTING's revenue for the first quarter of 2026 was 494 million yuan, gross profit was 73.36 million yuan, and the loss for the period was 375 million yuan. ESWIN COMPUTING's adjusted net losses for 2023, 2024, and 2025 were 1.7 billion yuan, 1.44 billion yuan, and 1.16 billion yuan, respectively; the adjusted net loss for the first three months of 2026 was 287 million yuan.

Cumulative Fundraising of 9 Billion Yuan

The management of ESWIN COMPUTING includes Wang Dongsheng, Wang Bo, Mi Peng, and Hu Weihao; non-executive directors include Li Jiaqing, Dr. Yu Xinhua, Zhang Shuai, and Li Guangning; independent non-executive directors include Zhu Hehua, Dr. Lyu Wendong, Dr. Zhang Chun, and Dr. Zhang Xiaojun. Before its listing, ESWIN COMPUTING completed a total of four rounds of financing, raising a total of 9 billion yuan. Among them, it completed a 1 billion yuan Series A financing in June 2020, a 2.5 billion yuan Series B financing in March 2021, a 2.5 billion yuan financing in December 2021, and a 3.026 billion yuan financing in June 2023. In April 2025, an investor invested 250 million yuan through capital injection, at the same per-share cost as the Series D financing.

After the IPO, ESWIN Group held 16.47%, Yili Technology held 11.81%, and Yixiang Technology held 1.01%, together controlling 29.3% of the company's equity. Boxin Chuangcheng held 4.23%, Bosi Zongheng held 2.7%, and Boming Weiye held 1.37%, together holding 8.3%. Ningbo Zhuangxuan held 5.17%, and Shanghai Ganyou held 1.05%, together holding 6.22%; Beijing Chip Energy held 5.37%, Legend Shengyuan held 2.3%, Legend Yongyi held 2.17%, and Legend Jiayun held 0.49%, with Legend holding a total of 4.96%; National Industrial Investment Fund Phase II held 4.79%; Sanxing Zhiying held 2.52%, and Xuzhou Yixing held 0.38%, together holding 2.9%; Bohua Venture respectively held 1.72%, Bohua Phase III held 0.61%, and Bohua Tianchen held 0.38%, together holding 2.72%; Shenzhen Tianbao Qiushi Investment Enterprise (Limited Partnership) and Suzhou Fenhu Investment Group Co., Ltd. each held 1.53%, Zhejiang Haining Juanhu Innovation Investment Co., Ltd. held 1.07%, Haining Industrial Investment Group Co., Ltd. held 0.46%, Zhuhai Huafa Venture Capital Fund Management Co., Ltd. held 1%, Guangzhou Science and Technology Innovation Industry Investment Fund Partnership (Limited Partnership) held 0.4%, Wuxi SAIC Jinshi Innovation Industry Fund Partnership (Limited Partnership) held 1.37%, Xinzhi (Shenzhen) Private Equity Investment Fund Partnership (Limited Partnership) held 1.15%, China Development Bank Technology Venture Investment Co., Ltd. held 0.23%, Beijing Ruiyi Venture Investment Fund (Limited Partnership) held 1.2%, and public shareholders held 7.14%.