RISC-V Major Release Industry Shipments Expected to Surge

As an “open-source by nature” instruction set architecture, RISC-V has accelerated from embedded systems to high-performance and complex scenarios, providing new options for AI computing power.

Huaneng LiaoNeng hits 8 consecutive limit-ups

Stock price reaches a 10-year high

Today (March 25), the A-share market rebounded across the board, with indices for tech themes such as optical communication, high-speed copper cable connections, CPO, AI marketing, liquid-cooled servers, and computing power leasing all rising over 3%. By the close, more than 4,800 stocks gained, with 105 hitting the daily limit-up, marking the second consecutive day with over 100 stocks hitting the limit.

Huaneng LiaoNeng (600396) opened today and hit the limit-up in less than five minutes. It has now recorded eight consecutive limit-ups, making it the stock with the most consecutive limit-ups during this period, and its latest closing price reached a 10-year high. The company previously released an earnings forecast, estimating net profit for 2025 between 25 million and 35 million yuan, a decrease of 59.17% to 70.84% year-over-year.

Regarding abnormal stock price fluctuations, Huaneng LiaoNeng announced on the evening of March 24 that after verification, the company’s production and operations are normal. Its main business is thermal power generation, with thermal power installed capacity accounting for 82.56%. Daily operations have not undergone significant changes. The company also warned of risks, noting that the short-term surge in stock price has deviated significantly from the Shanghai Composite Index and the industry index for power and heat production and supply; its latest rolling P/E ratio and P/B ratio are both above industry averages, indicating higher trading risks.

In addition to Huaneng LiaoNeng, other stocks with consecutive limit-ups include Liaoning Energy, Zhongli Group (002309), Zhejiang New Energy, and others.

RISC-V advances into high-performance computing

Deep integration with AI era

According to Sina Tech, at the 2026 Xuantie RISC-V Ecosystem Conference held on March 24, Alibaba DAMO Academy, Beijing Open Source Chip Research Institute, and the Institute of Software at the Chinese Academy of Sciences signed a strategic cooperation agreement to jointly promote RISC-V technological innovation and ecosystem development. Under the agreement, DAMO will leverage its strengths and experience in high-performance CPU development and industry deployment to participate in the development of the open-source RISC-V CPU “Xiangshan” next-generation products, exploring key technologies such as SMT, on-chip interconnection, and “communication and push integration,” and jointly building a high-performance RISC-V software ecosystem, creating benchmark application cases, and promoting the industrialization of RISC-V.

On the same day, Alibaba DAMO launched the high-performance RISC-V CPU Xuantie C950 and introduced two major native RISC-V AI engines, promoting the integration of high-performance general-purpose computing power and AI computing power, and exploring new CPU designs for the AI Agent era. “This is the first product with single-core performance exceeding 70 SPECint2006, and currently the world’s best RISC-V CPU,” said Meng Jiany, chief scientist at DAMO, visibly excited.

It is understood that Xuantie C950 utilizes RISC-V’s open-source features, equipped with self-developed AI acceleration engines, and natively supports large models like Qwen3 and DeepSeek-V3 with hundreds of billions of parameters. It is suitable for cloud computing, generative AI, high-end robotics (300024), edge computing, and other fields, and is expected to become a new high-end CPU for the AI Agent era.

Industry experts generally believe that the release of Xuantie C950 marks a milestone in RISC-V development, symbolizing its entry into the high-performance computing and AI deep integration era.

RISC-V shifting from “alternative” to “mainstream”

Rapidly becoming the “mainstream”

RISC-V is an open-source, free, modular instruction set architecture (ISA). At the 2026 Xuantie RISC-V Ecosystem Conference, Chinese Academy of Engineering academician Ni Guangnan stated that RISC-V has experienced fifteen years of rapid development, evolving from an “alternative” to a “mainstream” technology. By the end of 2025, RISC-V’s global chip market share had surpassed 25%, and the dual dominance of x86 and Arm is beginning to loosen.

Industry analysis firm SHD Group predicts that by 2031, RISC-V device shipments will surge to 36 billion units, with a compound annual growth rate of 31.7%, and the market size will exceed $300 billion.

In the A-share market, some listed companies have launched products based on RISC-V architecture. For example, Zhenhua Fengguang’s self-developed RISC-V 32-bit MCU (HYS2210 series), with fully autonomous instruction set and integrated design, has achieved breakthroughs in motor control and health monitoring.

Guoxin Technology has successfully developed over 40 CPU cores across 8 series based on “RISC-V instruction set,” “PowerPC instruction set,” and “M*Core instruction set.”

Allwinner Technology has developed multiple chips based on RISC-V cores and has achieved large-scale mass production.

Lihua Microelectronics has mastered core chip technologies based on RISC-V architecture. For smart lighting, the company launched cost-effective RISC-V 32-bit MCU-based PLC SoC chips and communication modules, targeting intelligent lighting applications like DC magnetic track lights.

ThunderSoft has shipped HarmonyOS on RISC-V chips based on Bolu Semiconductor.

19 concept stocks have fallen over 20%

From stock performance, comparing March 25 closing prices with the highs since 2026, 19 RISC-V concept stocks have retraced over 20%. Leading the decline are Zhuoyi Information, Hangyu Micro, Runhe Software (300339), Zhongke Chuangda (300496), and CloudWalk Technology-UW.

Zhuoyi Information experienced the largest decline at 39.9%. Its earnings report shows a net profit of 82 million yuan in 2025, up 150.05% year-over-year. During the period, the company successfully optimized asset and human resources, divested non-core and non-performing businesses, and integrated AI capabilities into its IDE (Integrated Development Environment). Its core products EazyDevelop and SnapDevelop form a “dual-wheel drive,” enabling a key transition from technology validation to market realization, potentially becoming a strong engine for performance growth.

In terms of trading volume, since March, 11 RISC-V concept stocks have seen their average daily trading volume increase compared to the previous month, including Hao Shang Hao, Hu’an Xin Chuang, China Telecom, China Unicom (600050), and Runhe Software, with increases over 20%.

Hao Shang Hao’s average daily trading volume since March is 181 million yuan, up 28.54% from the previous month, ranking first. The company expects a net profit of 76 million yuan in 2025, up 152.79%. The industry has been improving, customer demand has increased, and sales have expanded accordingly. Additionally, sales of higher-margin product lines have increased, boosting overall gross profit margin. The company’s financing costs, especially interest on overseas US dollar loans, have decreased compared to last year.

(Edited by: Zhang Yang HN080)

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