While no details about the particular processor (or processors) developed so far, Chinese media has just unveiled that Gree Electric is now producing its own chips, six years after announcing its plans in this field. All research, design, and manufacturing efforts were funded without the government's involvement.https://www.notebookcheck.net/Intel-and-AMD-might-face-a-new-Chinese-competitor-soon.933188.0.html
There's kinda a huge difference in a chip that controls an HVAC and a computer CPU. Not every chip factory is gunning for the most complex options.
Well, the difference between smart chips for home appliances and computer CPUs is not that big anymore. Now there's WiFi on virtually anything, AI features...
OpenXianShan has been at it for a while now
search github to see the source code