On June 29th, Chongqing Wuqi Microelectronics Co., Ltd. (Wuqi Micro) had its application for an initial public offering on the Shanghai Stock Exchange's STAR Market accepted.
China Everbright Securities is serving as the sponsor, and the company aims to raise approximately 1.619 billion yuan.
According to its prospectus, the company is among the earlier domestic chip design firms to fully adopt the RISC-V architecture and achieve commercialization and mass production.
Since its establishment, it has focused on the research, development, and sales of communication System-on-Chip products and software solutions, and also provides SoC chip customization services for clients.
The company is dedicated to the deep integration of short-range communication and edge-side intelligence, having now established three core capabilities: high-bandwidth, low-latency communication technology; edge-side multi-modal AI algorithms; and ultra-low-power mixed-signal chip design.
Based on this, it has built a comprehensive independent R&D platform, forming a dual-driven business direction of "connection hub + edge-side entry point."
To date, the company's products are primarily applied in two major fields: network communication and edge-side intelligence.
In the network communication chip sector, the company has successively launched Wi-Fi STA chips and Wi-Fi AP chips, comprehensively covering the core segments from connection to hub.
After years of sustained effort, the company has achieved significant breakthroughs in key technology areas for Wi-Fi AP chips, including radio frequency front-end architecture design, baseband signal processing, and SoC system integration.
It has successfully developed a RISC-V architecture-based Wi-Fi 6 AP chip whose performance rivals that of mainstream international products.
The company is one of the very few mainland Chinese enterprises to possess independent intellectual property and mass supply capabilities in this area, becoming a significant force in breaking the long-term monopoly of international giants in the high-end router chip market.
Regarding Wi-Fi terminal connectivity, the company's Wi-Fi STA chips cover the full series from Wi-Fi 4 to Wi-Fi 6, widely used in televisions, security systems, and other fields.
Its end customers include well-known enterprises such as Skyworth Group and other clients, truly achieving "smart connectivity for all things" from terminal to hub.
In the edge-side intelligent chip field, the company's smart audio master control chips are widely applicable to terminal devices like smart headphones and smart glasses.
The company focuses on two core product lines: network communication chips and edge-side intelligent chips.
In the competitive market landscape, renowned integrated circuit design companies both domestic and international, such as Qualcomm, Broadcom (AVGO), MediaTek, and Realtek, compete with the company across both these product lines.
Additionally, the company also faces competition from other chip design firms that possess advantages in specific segments and focus on particular application scenarios.
Wi-Fi and Bluetooth, as two core technologies in the short-range wireless communication field, exhibit significant synergistic effects at underlying technology levels such as system architecture and baseband algorithms.
Leveraging its deep technical expertise in short-range wireless communication and edge-side intelligence, the company is simultaneously developing Wi-Fi chips and edge-side intelligent chips, a strategy aligned with that of leading firms like Qualcomm, Broadcom (AVGO), MediaTek, and Realtek.
Financially, for the years 2023, 2024, and 2025, the company achieved operating revenues of approximately 295 million yuan, 514 million yuan, and 565 million yuan, respectively.
During the same periods, its net profits were approximately -300 million yuan, -239 million yuan, and -213 million yuan, respectively.
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