ASR Microelectronics files for listing on HKEX: Ranks first globally in cellular connectivity chip shipments in 2025

NewTimeSpace News: On 11 September 2026, ASR Microelectronics Co., Ltd. (A-share stock code: 688220.SH) submitted a listing application to The Stock Exchange of Hong Kong Limited, with Morgan Stanley Asia Limited and Haitong International Capital Limited acting as the joint sponsors. The Company is a platform-based fabless semiconductor company dedicated to empowering a broad range of AI applications spanning device, edge and cloud, and has built an integrated technology platform underpinned by multi-standard cellular baseband technology, AI computing technology and complex SoC design capabilities.

According to Frost & Sullivan, the Company is one of the very few semiconductor companies globally that possess all three core capabilities on an integrated technology platform at the same time, and its platform supports three synergistic businesses: wireless connectivity chips centred on cellular connectivity, smart SoCs and ASIC customisation solutions. In 2025, the Company ranked first globally in the cellular connectivity chip market by shipment volume, with a market share of 37.8%, and its shipment volume growth rate between 2023 and 2025 also outpaced other global top-five peers in the same category.

Cellular baseband technology is the cornerstone of the Company's technology platform. Since its inception, the Company has developed and commercialised successive generations of cellular products covering all standards from 2G to 5G, thereby accumulating complex SoC design capabilities spanning chip architecture, ultra-large-scale mixed-signal chip design, hardware-software co-design, system integration and the optimisation of performance, power consumption and cost. The Company has also independently developed AI computing technology, including its self-developed neural processing unit (NPU), which delivers on-device AI processing with both strong performance and energy efficiency.

The Company noted that as AI enters a new era of large-scale deployment, applications increasingly need to combine efficient computing with ubiquitous, always-available connectivity so as to enable real-time data transmission, coordination of computing tasks and the flow of computing power across device, edge and cloud; among wireless communication technologies, cellular technology, particularly 5G and the emerging 6G standards, is irreplaceable in providing continuous, wide-area connectivity that supports mobility. For example, an intelligent connected vehicle moving between locations needs to exchange road conditions, hazard warnings and sensor data with the cloud in real time, a scenario that fixed Wi-Fi hotspots alone cannot reliably support. The Company added that mastering cellular baseband technology is extremely difficult, requiring deep technical accumulation across multiple generations of cellular standards, complex hardware-software co-design, extensive compatibility testing and certification, and continuous optimisation of performance, power consumption and cost, all of which require long-term investment and constitute a significant barrier to entry.

The Company has developed the smart device SoCs ASR7801 and ASR8861 for intelligent edge applications, each integrating its self-developed NPU with on-device AI computing power; it also provides custom ASIC solutions to hyperscalers, leading AI companies and semiconductor companies, covering areas such as cloud inference, edge/device AI, RISC-V and enterprise-grade storage, and had successfully delivered dozens of custom ASIC projects as at 30 June 2026, including designs using process nodes as advanced as 4nm. The Company stated that its integrated technology platform forms a self-reinforcing business model between its own-brand products and ASIC customisation solutions, as the mass production of own-brand wireless connectivity chips and smart SoCs continuously validates and optimises the Company's complex SoC IP, design methodology and full-lifecycle delivery capabilities, which in turn can be reused in ASIC customisation solutions, while ASIC customisation solutions extend the Company's capabilities into advanced process nodes, complex chip architectures and emerging application areas and accumulate proprietary know-how for future products and projects, thereby enhancing its innovation efficiency, delivery certainty and commercialisation capability.

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