Recently, VeriSilicon, China’s leading provider of semiconductor intellectual property (IP), formally submitted its application to list H shares on the Hong Kong Stock Exchange, with CITIC Securities and UBS Group AG acting as joint sponsors. Publicly available data reveals that VeriSilicon’s revenue soared to 3.152 billion yuan in 2025, marking a 35.77% year-on-year increase and signaling a notable acceleration in its growth trajectory.

A standout feature of its performance is the strong contribution from AI computing power-related revenue, which accounted for 64.43% of the total. New orders reached an impressive 5.960 billion yuan, surging by 103.41% year-on-year, with AI computing power-related orders comprising over 73% of the total. As of the end of 2025, the company’s backlog of orders stood at 5.075 billion yuan, maintaining a robust level for nine consecutive quarters.