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China State Funds Double Down on Hua Hong with $2.9 Billion Injection to Boost Legacy Chip Production
Chinese state funds are significantly increasing their support for Hua Hong Semiconductor, the country's second-largest contract chipmaker. According to a stock exchange filing on Thursday, Hua Hong Group, the parent company, saw its registered capital surge by 6.2 billion yuan (US$2.9 billion) to 19.7 billion yuan. This capital injection, led by state-backed Shanghai Guosheng Group, aims to fuel Beijing's drive for self-reliance in mature-node chips and support a new manufacturing facility in Wuxi.
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