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Domestic equipment manufacturers, such as toolmaker Naura (002371.SZ) and etching equipment maker AMEC, are winning a much higher proportion of tenders from Chinese foundries than in previous years, as chipmakers race to replace foreign-made equipment with domestically made alternatives, research showed. "There is definitely huge progress happening in the Chinese semiconductor equipment space, as reflected in the strong revenue growth metrics," he said. The Huatai Securities report revealed that for the first eight months of 2023, only one tender for lithography equipment was awarded to a Chinese company, out of many bids. "Local players still lack capability to supply a full set of equipment, such as EUV," said Nori Chiou, investment director at White Oak Capital, saying Chinese manufacturers are focused on covering mature node equipment. "It’s a long way to go to see advanced semiconductor equipment made in China."

Persons: Florence Lo, Xi Jinping, Biden, Hua Hong, SMIC, Nori, Fanny Potkin, Yelin, Ellen Zhang, Brenda Goh, Sharon Singleton Organizations: REUTERS, Companies, Huatai Securities, Beijing, Reuters, HK, Hua Hong Semiconductor, CINNO Research, Analysts, Materials Inc, Lam Research Corp, U.S, Huawei Technologies, White Oak, Thomson Locations: China, SINGAPORE, BEIJING, Japan, Netherlands, U.S, ASML, Singapore, Yelin Mo, Beijing

☆ SMIC stock plunges as US calls for further sanctions of China's top chipmaker over Huawei smartphone
▼ + stars: | 2023-09-07 | by ( Laura He | ) edition.cnn.com time to read: +5 min

Hong Kong CNN —Shares in SMIC, China’s largest contract chipmaker, plunged on Thursday, after two US congressmen called on the White House to further restrict export sales to the company. The comments came after Huawei Technologies introduced the Mate 60 Pro, a Chinese smartphone powered by an advanced chip that is believed to have been made by SMIC. TechInsights, a research organization based in Canada specializing in semiconductors, revealed shortly after the launch that the smartphone contained a new 5G Kirin 9000s processor developed specifically for Huawei by SMIC. Gallagher was quoted as saying SMIC may have violated US sanctions, as this chip likely could not be produced without US technology. Hua Hong Semiconductor, China’s second largest chip foundry, tumbled 4.8%.

Persons: SMIC, ” Jefferies, Qilai Shen, Mike Gallagher, Gallagher, ”, Texas Republican Michael McCaul, “, Gina Raimondo, Raimondo, SMIC’s, Biden Organizations: Hong Kong CNN —, House, Huawei Technologies, Kirin, Huawei, SMIC, Semiconductor Manufacturing International Corp, Bloomberg, Getty, US Commerce Department, Reuters, Semiconductor Manufacturing International Corporation, Hua Hong Semiconductor, Texas Republican, Foreign Affairs Committee, US, US Commerce, Huahong Semiconductor, CNN, Jefferies Locations: China, Hong Kong, SMIC, China’s, Chinese, Shanghai, United States, Canada

It is likely to be the biggest of three funds launched by the China Integrated Circuit Industry Investment Fund, also known as the Big Fund. Its target of 300 billion yuan ($41 billion) outdoes similar funds in 2014 and 2019, which according to government reports, raised 138.7 billion yuan and 200 billion yuan respectively. China's finance ministry is planning to contribute 60 billion yuan, said one person. Backers of the Big Fund's previous two funds include the finance ministry and deep-pocketed state-owned entities such as China Development Bank Capital, China National Tobacco Corporation and China Telecom. INVESTMENT MANAGERSThe Big Fund is considering hiring at least two institutions to invest the new fund's capital, said the three people.

Persons: Xi Jinping, Florence Lo, China's, Julie Zhu, Kevin Huang, Yelin Mo, Roxanne Liu, Sumeet Chatterjee, Edwina Gibbs Organizations: U.S, China Integrated Circuit Industry Investment Fund, Big Fund, Washington, Information Office, Ministry of Industry, Information Technology, REUTERS, China Development Bank Capital, China National Tobacco Corporation, China Telecom, Big, Semiconductor Manufacturing International Corporation, HK, Hua Hong Semiconductor, Memory Technologies, IC, China Aerospace Investment, China Aerospace Science, Technology Corporation, Thomson Locations: HONG KONG, BEIJING, China, Beijing, U.S, Japan, Netherlands

"The situation is already very bad for dollar-based funds to invest in China's tech sector. There isn't much room for things to get worse," said Beijing-based China Growth Capital partner Wayne Shiong. Biden's move will likely make China-focussed venture capital firms feel more urgency to raise yuan funds from Chinese investors, he said. In response to Biden's executive order, China's commerce ministry said it was "gravely concerned" and reserved the right to take countermeasures. But the executive order is barely going to do anything, and China escalating would risk turning a molehill into a mountain."

Persons: Florence Lo, Joe Biden's, Donald Trump, Weiheng Chen, Wilson Sonsini, Biden, Chen, Wayne Shiong, Biden's, Yuan, Pan, Trump, Derek Scissors, Kane Wu, Michael Martina, Roxanne Liu, Ziyi Tang, Yantoultra, Sumeet Chatterjee, William Mallard Organizations: REUTERS, U.S, Reuters Graphics Reuters, China Growth Capital, Chinese Academy of Social Sciences, TECH, Hua Hong Semiconductor, Analysts, American Enterprise Institute, Thomson Locations: China, U.S, HONG KONG, WASHINGTON, Beijing, Washington, Shanghai, Hong Kong, Singapore, Bengaluru

☆ China chipmaker Hua Hong posts modest gains in Shanghai debut
▼ + stars: | 2023-08-07 | by ( ) www.reuters.com time to read: +2 min

SHANGHAI, Aug 7 (Reuters) - Hua Hong Semiconductor, China's second-largest chip foundry, posted modest gains in its Shanghai debut on Monday, reflecting a weak market sentiment and investor caution amid mounting Sino-U.S. chip rivalry. Hua Hong shares opened 13% higher on Shanghai's tech-focused STAR Market, but quickly faltered. The Shanghai Composite Index (.SSEC) was down 0.6%, while Hua Hong's Hong Kong-listed shares declined more than 7%. Randall said the money raised by Hua Hong is not huge in a capital-intensive industry, but shows chipmakers are broadening fundraising channels in addition to government backing. Hua Hong will use most of the proceeds to boost capacity at a facility in Wuxi, in eastern Jiangsu province, according to the company's prospectus.

Persons: Hua, Hua Hong, Joe Biden's, Stewart Randall, Randall, Li Gu, Brenda Goh, Mo Yelin, Muralikumar Anantharaman, Himani Organizations: Hua Hong Semiconductor, Hua Hong, Trump, Washington, Thomson Locations: SHANGHAI, Shanghai, U.S, Hong Kong, Beijing, Washington . U.S, China, Wuxi, Jiangsu

☆ Shares of China's second largest chip foundry Hua Hong jump 13% in Shanghai debut
▼ + stars: | 2023-08-07 | by ( Sheila Chiang | ) www.cnbc.com time to read: +2 min

Shares of the chipmaker opened on the Nasdaq-style Star Market at 58.88 Chinese yuan, according to Refinitiv data. That's a 13.2% jump from its offer price of 52 Chinese yuan ($7.23). The Shanghai-listed shares have since pared gains and were trading lower at 53.99 Chinese yuan on Monday afternoon. Hua Hong's Shanghai debut raised 21.2 billion yuan ($2.95 billion) — in what was the largest IPO in mainland China so far this year, according to EY's global IPO report. SMIC raised 46.28 billion yuan ($6.62 billion) during its IPO in 2020.

Persons: Hua Hong, Hua Hong's, Chips, Hong, Phelix Lee, Lee, SMIC Organizations: Huahong Group, Huahong, Getty, Shanghai Stock Exchange's, Semiconductor Manufacturing International Corp, Nasdaq, Morningstar Asia, Hua Locations: Shanghai, China, Hua Hong's Shanghai, Hong Kong, Beijing

☆ Chinese chipmaker Hua Hong seeks up to $2.95 billion in mainland listing
▼ + stars: | 2023-07-23 | by ( ) www.reuters.com time to read: 1 min

BEIJING, July 23 (Reuters) - Chinese chipmaker Hua Hong Semiconductor (1347.HK) said on Sunday it aims to raise up to 21.2 billion yuan ($2.95 billion)in a listing on the Shanghai stock exchange. The country's second-largest chip foundry will sell 407.75 million shares priced at 52 yuan per share, it said in a statement to the exchange. The IPO by the chipmaker is set to be the biggest mainland listing this year. It comes as Chinese chipmakers rush to raise capital as Beijing seeks self-sufficiency in an escalating technology war with Washington. ($1 = 7.1861 Chinese yuan)Reporting by Dominique Patton and Amy Lv; Editing by Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.

Persons: Hua Hong, Dominique Patton, Amy Lv, Jacqueline Wong Organizations: Hua Hong Semiconductor, HK, Thomson Locations: BEIJING, Shanghai, Beijing, Washington, Hua, Wuxi

☆ Chipmaker Hua Hong says China's state-owned fund to invest $414.2 million
▼ + stars: | 2023-06-28 | by ( ) www.reuters.com time to read: +1 min

June 28 (Reuters) - Hua Hong Semiconductor (1347.HK) said on Wednesday China IC Fund II would participate in a proposed RMB share issue as a strategic investor by subscribing for RMB shares worth 3 billion yuan ($414.15 million), subject to allotment. China's second-largest chip foundry has established an independent board committee to consider and advise its independent shareholders as to whether the terms of the China IC Fund subscription are fair and reasonable, it said. The company said it expects the RMB share issue to enable it to enhance its production capacity and research and development capability, among other things. The Shanghai-based chipmaker had in May received Shanghai Stock Exchange's approval for a planned public share sale worth $2.6 billion, which would be the year's biggest mainland listing so far. ($1 = 7.2437 Chinese yuan renminbi)Reporting by Echha Jain in Bengaluru; Editing by Shilpi MajumdarOur Standards: The Thomson Reuters Trust Principles.

Persons: chipmaker, Echha Jain, Shilpi Majumdar Organizations: Hua Hong Semiconductor, HK, China IC, China IC Fund, Shanghai Stock, Thomson Locations: China, Shanghai, Bengaluru

China's chip stocks rallied on Monday morning following Beijing's announcement to bar some purchases of products from U.S. memory chipmaker Micron . China's Cyberspace Administration barred operators of "critical information infrastructure" in China from buying products from the U.S. chip giant following a security review conducted by the Cyberspace Administration of China. Chinese authorities said Micron products have failed its network security review, and cited "serious potential network security issues." The firm poses a "major security risk" to China's critical information infrastructure supply chain and affects [its] national security," a statement said. Shares of Chinese chipmakers largely rose on Monday following the move: Hong Kong-listed Hua Hong Semiconductor rose as much as 3.14% on Monday, while SMIC rose 2.64%.

☆ Hua Hong Semiconductor's $2.6 billion China listing approved by exchange
▼ + stars: | 2023-05-18 | by ( ) www.reuters.com time to read: +1 min

SHANGHAI, May 18 (Reuters) - Chinese chipmaker Hua Hong Semiconductor Ltd (1347.HK) said it had received Shanghai Stock Exchange approval for its planned $2.6 billion share listing, which is expected to be one of the country's biggest this year. Hong Kong-listed Hua Hong's plan for a secondary listing on Shanghai's STAR Market has been approved by the bourse's listing committee, and it will submit an application for registration to China's securities regulator, the company said late on Wednesday. Hua Hong joins a growing list of Chinese chipmakers to sell shares publicly on the mainland amid a Sino-U.S. rivalry that has seen Washington stepping up efforts to restrict exports to Beijing's semiconductor industry. Hua Hong, which competes with bigger Chinese rival Semiconductor Manufacturing International Corp (0981.HK), has said it plans to raise up to 18 billion yuan ($2.60 billion) to fund investment and innovation. ($1 = 6.9121 Chinese yuan renminbi)Reporting by Shanghai newsroom; Editing by Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

☆ China gives chipmakers easier subsidy access to help guide industry recovery - FT
▼ + stars: | 2023-03-21 | by ( ) www.reuters.com time to read: +1 min

March 21 (Reuters) - China is facilitating easier access to subsidies and more control over state-backed research for a handful of its chip companies, the Financial Times reported on Tuesday. Chipmakers such as Semiconductor Manufacturing International (SMIC) (0981.HK), Hua Hong Semiconductor (1347.HK) and Huawei, as well as equipment suppliers like Naura (002371.SZ) and Advanced Micro-Fabrication Equipment Inc China(688012.SS) might benefit from the policy, the report added citing people familiar with the matter. Reuters had reported in December that China is working on a more than 1 trillion yuan ($145.34 billion) support package for its semiconductor industry, amid tightening U.S. restrictions aimed at slowing its technological advances. The chosen firms will have access to additional government funding without having to achieve previously necessary performance goals, the report said, adding that they will also be allowed to play a bigger role in state-sponsored research projects. ($1 = 6.8803 Chinese yuan renminbi)Reporting by Kanjyik Ghosh in Bengaluru; Editing by Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.

☆ At China political meeting, internet bosses are out, chip execs are in
▼ + stars: | 2023-03-03 | by ( Laurie Chen | ) www.reuters.com time to read: +4 min

HARDWARE FOCUSNewcomers to the events include representatives from chip firms Semiconductor Manufacturing International Corporation (SMIC), state-backed Hua Hong Semiconductor Ltd, Shandong Youyan Semiconductor Materials Co. in the NPC and Cambricon Techologies Corp in the CPPCC. Other new NPC delegates come from robotics, laser, aerospace and aeronautics firms. Delegates for the NPC and CPPCC are chosen every five years by the Communist Party and have the option to resign. Some celebrity CPPCC delegates did not reappear on this year's list, such as Hong Kong action star Jackie Chan, film director Feng Xiaogang and state television anchor Bai Yansong. Yao Ming, a retired basketball star who heads the Chinese Basketball Association, has moved from the CPPCC to the NPC.

☆ Factbox: Chinese chipmakers caught in U.S.-China tech spat
▼ + stars: | 2023-01-31 | by ( Josh Horwitz | ) www.reuters.com time to read: +4 min

TSMC is the world's most valuable chipmaker and counts Apple Inc (AAPL.O) and Nvidia Corp (NVDA.O) among major clients. Its government-backing and ambition to make high-end chips caught the attention of the United States which put the firm on its Entity List in 2020. To date, most of SMIC's sales are made using the outdated 45 nanometer process node and above. Since late 2020, this specialisation in older chips has proven a boon due to a global shortage of lower-end chips. It produces DRAM at the 19 nanometer node and is moving into the 17 nanometer node - process nodes behind the industry leading-edge.

☆ China’s second-largest chipmaker poised for $2.5 billion IPO in Shanghai
▼ + stars: | 2022-11-07 | by ( ) www.reuters.com time to read: +2 min

SHANGHAI, Nov 7 (Reuters) - Chinese chip manufacturer Hua Hong Semiconductor Ltd (1347.HK) has received regulatory approval for an 18 billion yuan ($2.5 billion) IPO in Shanghai, according to a filing published late on Friday on the Hong Kong stock exchange. The proceeds from the IPO will also go to upgrading the latter fab, according to its prospectus. Hua Hong’s Shanghai IPO will follow that of China’s Semiconductor Manufacturing International Corp (SMIC) (0981.HK), which, like Hua Hong, went public on Shanghai’s tech-centric STAR market in 2020 after it listed in Hong Kong years earlier. Hua Hong’s planned IPO comes after Washington passed unprecedented export controls on Chinese chip makers. Hua Hong specializes in mature technology, and generates most of its revenue making chips using 55-nanometer process technology.

☆ Chinese chip stocks tumble after U.S. calls for new curbs on high-end tech
▼ + stars: | 2022-10-10 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

Future Publishing | Future Publishing | Getty ImagesBEIJING — Chinese chip stocks fell Monday after the U.S. announced new export controls aimed at limiting Beijing's ability to produce advanced military systems. The rules, effective this month, expand on prior U.S. attempts to crimp Chinese companies' access to key tech. Chinese chips stocks tumbleChina's largest chipmaker, Semiconductor Manufacturing International Corporation, traded 3% lower Monday afternoon in Hong Kong, amid a broader market sell-off. "It will not only harm Chinese companies' legitimate rights and interests, but also hurt the interests of U.S. The U.S. government previously put Chinese companies Huawei and SMIC on a blacklist that requires suppliers to obtain a license before selling to them.

☆ China tech shares sink as U.S. export curbs raise chip sector hurdles
▼ + stars: | 2022-10-10 | by ( ) www.reuters.com time to read: +7 min

The most immediate impact is likely to be felt by Chinese chipmakers, they said. The new regulations will now pose major hurdles for the two Chinese memory chipmakers, analysts said. A steep decline in tech shares led China's market down on its first post-Golden Week holiday trading on Monday. An index measuring China's semiconductor firms (.CSIH30184) tumbled nearly 7%, and Shanghai's tech-focused board STAR Market (.STAR50) declined 4.5%. SMIC dropped 4%, chip equipment maker NAURA Technology Group Co (002371.SZ) sank 10% by the daily limit, and Hua Hong Semiconductor plunged 9.5%.

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