China state funds pour $2.9B into Hua Hong in push for legacy chips
pstAsiatech · x · 2026-10-12
Per SCMP, Chinese state investors are doubling down on Hua Hong, the country's second-largest contract chipmaker: Hua Hong Group's registered capital rose from 13.5B to 19.7B yuan ($2.9B), with a 6.2B yuan injection led by state-backed Shanghai Guosheng Group.
- Guosheng's direct stake jumps from 15.3% to 41.7%, indirect to 10.2%
- Move strengthens domestic mature-node chip supply as Washington tightens tech restrictions
- A new Wuxi fab is also part of the self-reliance push
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