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Back|China state funds double down on Hua Hong in legacy chip push
China state funds double down on Hua Hong in legacy chip push
NEWS
SCMP Tech·2 hours ago·Business·1 min read·🇨🇳China

China state funds double down on Hua Hong in legacy chip push

Registered capital increases by 6.2 billion yuan, led by Shanghai Guosheng Group.

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Registered capital of Hua Hong Group surged to 19.7 billion yuan following a 6.2 billion yuan injection led by state-backed Shanghai Guosheng Group.

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Hua Hong Group is a Shanghai- and Hong Kong-listed chipmaker's owner.

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Registered capital of Hua Hong Group, the Shanghai- and Hong Kong-listed chipmaker’s owner, surged to 19.7 billion yuan (US$2.9 billion) from 13.5 billion yuan, according to a stock exchange filing on Thursday. The 6.2 billion yuan injection was led by Shanghai Guosheng Group, a state-backed investment vehicle.

Following the transaction, Guosheng’s direct stake in Hua Hong Group would jump to 41.7 per cent from 15.3 per cent, while its indirect holding would rise to 10.2 per cent from 3.8 per cent.

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  • ?What are the specific future investments planned with the new capital?

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This article was originally published by SCMP Tech.

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Registered capital of Hua Hong Group surged to 19.7 billion yuan following a 6.2 billion yuan injection led by state-backed Shanghai Guosheng Group.

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