Micro-Science and Technology Innovation Board IPO has been accepted, the company's Wi-Fi 6AP chip performance is on par with the international mainstream.

On June 29, Chongqing Wuxi Microelectronics Co., Ltd. (referred to as Wuxi Micro) submitted an application for IPO on the Shanghai Stock Exchange Science and Technology Innovation Board. EB SECURITIES is its sponsor institution, with plans to raise 1.619 billion yuan. According to the prospectus, the company is one of the earliest chip design enterprises in China to adopt the RISC-V architecture and achieve commercialization and mass production. Since its establishment, the company has been focusing on the research and development and sales of communication SoC chips and software solutions, and providing customized SoC chip services to customers. The company is committed to the deep integration of short-distance communication and edge intelligence, and has built three core capabilities including high-bandwidth low-latency communication technology, edge multimodal AI algorithms, and ultra-low-power mixed-signal chip design. Based on this, a complete self-developed platform has been established, forming a business direction of "central connection + edge entrance" dual-drive model. As of now, the company's products are mainly used in the fields of network communication and edge intelligence. In the field of network communication chips, the company has successively launched Wi-Fi STA chips and Wi-Fi AP chips, comprehensively laying out the core links from connection to the center. After years of continuous research and development, the company has made significant breakthroughs in key technical areas such as RF front-end architecture design, baseband signal processing, and SoC system integration in Wi-Fi AP chips. They successfully developed Wi-Fi 6 AP chips based on the RISC-V architecture with performance comparable to international mainstream chips, making them one of the few Chinese mainland companies with independent intellectual property rights and mass supply capabilities. They have become an important force to break the long-term monopoly of international giants in the high-end router chip field. In terms of Wi-Fi terminal connection, the company's Wi-Fi STA chips cover the entire series from Wi-Fi 4 to Wi-Fi 6, widely used in areas such as TV and security. End customers include well-known companies such as SKYWORTH GROUP, Customer A, and Customer B, truly achieving "smart connection of all things" from the terminal to the center. In the field of edge intelligent chips, the company has launched intelligent audio main control chips, widely used in smart headphones, smart glasses, and other terminal devices. The company focuses on two core product lines, namely network communication chips and edge intelligent chips. In the market competition landscape, well-known integrated circuit design companies such as Qualcomm, Broadcom, MediaTek, and Realtek, both domestically and abroad, have competitive relationships with the company in the above two product lines. In addition, the company also faces competition from chip design companies that have advantages in specific fields and focus on specific scenarios. Wi-Fi and Bluetooth are the two core technologies in the field of wireless short-distance communication, and there are significant synergies at the system architecture, baseband algorithm, and other underlying technology levels. Leveraging their deep technical expertise in the fields of wireless short-distance communication and edge intelligence, the company is simultaneously developing Wi-Fi chips and edge intelligent chips, maintaining consistency with well-known companies such as Qualcomm, Broadcom, MediaTek, and Realtek. Financially, in the fiscal years 2023, 2024, and 2025, the company is expected to achieve operating revenues of approximately 295 million yuan, 514 million yuan, and 565 million yuan respectively. During the same period, the net profits are expected to be -300 million yuan, -239 million yuan, and -213 million yuan respectively.