AISpeech Technology’s application to list on the Shanghai Stock Exchange’s Star Market was accepted on May 25, with Soochow Securities serving as the sponsor. The conversational artificial intelligence company plans to raise RMB 1.555 billion (USD 228.9 million) through the IPO, according to its prospectus.

Founded in 2007, AISpeech develops conversational AI, on-device intelligence technologies, and intelligent human-computer interaction (HCI) products. Through its proprietary customization platform, it provides system-level HCI products and solutions for smart mobility, smart office, and internet-of-things (IoT) applications.

The company said its offerings combine cloud-edge collaboration with hardware-software integration. They are designed to help customers upgrade products and operations, create more natural HCI experiences, support next-generation smart devices and agents, and improve deployment efficiency.

For smart devices, conversational AI has become an important interface for human-computer interaction. Deploying it at scale requires full-stack AI capabilities across three areas: algorithmic models, on-device deployment, and flexible delivery.

AISpeech positions itself differently from providers of single-point AI capabilities, saying it has built its technology system around those three areas:

  • Its algorithmic model capabilities cover auditory perception, language cognition, multimodal interaction, large models, and agent technology.
  • Its on-device deployment capabilities span chips and on-device algorithms.
  • Its flexible delivery capabilities cover customization technology for end-to-end dialogue systems.

Through this system, AISpeech said it is targeting common industry challenges, including low-latency offline processing, lightweight deployment, real-time interaction in complex noisy environments, and distributed agent collaboration.

In 2023, AISpeech released DFM, a large model focused on HCI, tool orchestration, and specific vertical domains such as home and mobility. The model emphasizes action decision-making and reliable task execution. Built around DFM, AISpeech developed an agent architecture centered on reliability and task execution. The system is coordinated by a central large model that works with specialized models, agents, and end-to-end interaction components for vertical domains.

The architecture is central to AISpeech’s on-device agent technology system. It is designed for real-world, complex scenarios and cloud-edge collaboration, and supports economical, reliable, and personalized interaction on smart devices. According to IPO Zaozhidao, AISpeech has advantages in overall cost, execution reliability, vertical domain accuracy, response speed, privacy and security, and customization, helping smart devices reach scaled deployment at lower cost and with greater reliability.

AISpeech describes itself as one of the few system-level AI companies globally with in-house end-to-end algorithm development, hardware-software collaborative innovation, and large-scale flexible delivery capabilities. As of December 31, 2025, it held 717 granted invention patents, including 601 technology-related invention patents that have been applied to its main business and can be commercialized.

AISpeech has continued to invest in conversational AI R&D and has maintained an integrated industry-academia-research model. According to the company, it has helped build a national open innovation platform focused on language computing, led the formation of a Yangtze River Delta language computing consortium and a Jiangsu laboratory for language computing and applications, and was named among the first key enterprises in Jiangsu authorized to evaluate senior professional titles.

AISpeech has built a product and service system spanning software, chips, modules, and devices. The company said it has achieved scaled applications across multiple domains. Its delivery is primarily standardized, though it can also provide customized development and joint debugging services based on customer needs. Its software and technical services are delivered through SDKs, APIs, and cloud services that support cloud-edge deployment. Its hardware products integrate conversational AI technology with smart devices, providing chips, modules, and devices according to customer needs.

In smart mobility, AISpeech has partnered with Chinese automakers including BYD, SAIC Motor, BAIC, Geely, Great Wall Motor, and Seres, as well as international brands including Mercedes-Benz, Audi, Volkswagen, Porsche, and Lotus. It has also expanded to two-wheeler customers such as Yadea. As of December 31, 2025, AISpeech had supported nearly 300 customer vehicle models, with cumulative deployments in more than 25 million vehicles.

According to third-party data cited in AISpeech’s filing, the company’s market share by in-vehicle voice system installations reached 22% in 2025, based on Chinese vehicle sales to end customers. That ranked it second in the industry, up from 6.8% in 2023 and ahead of Cerence. AISpeech’s multilingual HCI technology has also been deployed by Chinese brands including SAIC Motor, Seres, Great Wall Motor, and Avatr, supporting their overseas expansion.

In smart office solutions, AISpeech has focused on building its own brand. Its product lineup includes ceiling microphones, matrix microphones, and productivity tablets for meetings, offices, education, and classrooms.

AISpeech said its smart ceiling microphone has reached internationally competitive levels among comparable products in core technical indicators such as end-to-end latency and ASG gain. The company said the product has helped Chinese-developed technology enter high-end conference rooms and classrooms, challenging a global high-end audio and video conferencing equipment market long dominated by international brands such as Shure of the US and Sennheiser of Germany.

Since AISpeech launched its smart ceiling microphone at the end of 2023, the product has been deployed by major companies including Huawei, Alibaba, Xiaomi, JD.com, and Nongfu Spring; more than 100 universities in China and abroad, including Peking University, Shanghai Jiao Tong University, Fudan University, the Hong Kong University of Science and Technology, and the National University of Singapore; and more than 1,000 government entities, companies, and public institutions of various sizes.

AISpeech has also begun its international expansion, entering more than 20 countries and regions. Its productivity tablet, released in mid-2024, ranked first nationwide by sales value among individual color-screen products in 2025, according to a China Insights Consultancy report cited by the company.

In smart IoT, AISpeech has established partnerships with companies across subsectors including smart homes, robots, wearables, and consumer electronics. Its coverage extends to more than 50 device categories, including white goods, brown goods, kitchen and bathroom appliances, home control panels, home robots, embodied robots, smartphones, and PCs.

AISpeech has worked with major brands across those categories. In smart home appliances, it has served Midea, Hisense, Haier, and Changhong. In home robots, it has worked with Ecovacs, Dreame, and Roborock. In embodied robots, it has worked with Agibot, Galbot, and Magic Atom. In consumer electronics, it has maintained long-term partnerships with Lenovo, Transsion, and Oppo.

AISpeech’s financial fundamentals have improved compared with the period covered in its previous filing. From 2019 to 2022, revenue rose from RMB 114.7 million (USD 16.9 million) to RMB 423.2 million (USD 62.3 million), with revenue of RMB 236.7 million (USD 34.8 million) in 2020 and RMB 307.4 million (USD 45.2 million) in 2021. Over the same period, gross margin fell from 72.17% to 57.91%.

During the 2023–2025 reporting period for the current filing, AISpeech’s revenue rose from RMB 539.1 million (USD 79.4 million) to RMB 600.8 million (USD 88.4 million), then to RMB 687.7 million (USD 101.2 million). Its gross margin improved from 53.69% in 2023 to 57.81% in 2024 and 63.24% in 2025.

AISpeech’s net loss attributable to shareholders of the parent company was RMB 111.8 million (USD 16.5 million) in 2023, widened to RMB 140.4 million (USD 20.7 million) in 2024, then narrowed to RMB 57.0 million (USD 8.4 million) in 2025. Excluding nonrecurring items and the impact of share-based payments, its attributable net loss narrowed from RMB 218.8 million (USD 32.2 million) in 2023 to RMB 144.3 million (USD 21.2 million) in 2024 and RMB 48.3 million (USD 7.1 million) in 2025. The figures show a narrower loss profile in 2025, while the company said its ability to continue as a going concern and its path toward profitability have improved.

The business mix also shifted in 2025. Smart mobility solutions contributed RMB 275.7 million (USD 40.6 million) in revenue, or 40.08% of the total. The smart office segment contributed RMB 243.5 million (USD 35.8 million), or about 35.4%, while the smart IoT segment contributed RMB 168.6 million (USD 24.8 million), or 24.51%.

AISpeech plans to raise RMB 1.555 billion through the IPO. The proceeds are earmarked for three projects: RMB 680 million (USD 100.1 million) for AI software and hardware-software integrated solutions, about RMB 325 million (USD 47.8 million) for AI smart device product R&D and upgrades, and approximately RMB 550 million (USD 81 million) for R&D center construction.

This article was adapted based on a feature originally written by Stone Jin and published on IPO Zaozhidao. KrASIA is authorized to translate, adapt, and publish its contents.

Note: RMB figures are converted to USD at rates of RMB 6.79 = USD 1 based on estimates as of May 28, 2026, unless otherwise stated. USD conversions are presented for ease of reference and may not fully match prevailing exchange rates.