Reuters ReutersHONG KONG (Reuters Breakingviews) - A Chinese chipmaker is becoming Beijing's poster child for technological self-sufficiency. Hygon Information Technology is readying a $1.6 billion float – the largest so far on Shanghai's STAR market this year. Its partnership with the latter allowed Hygon to license advanced chip designs and sell its production to local hardware manufacturers including Lenovo. Between 2019 and 2021, Hygon invested 3.5 billion yuan ($519 million) in R&D, some 95% of combined revenue over the period. The company, which designs and manufactures microprocessors, plans to raise 10.8 billion yuan ($1.6 billion) in what will be STAR’s biggest offering in 2022.

Source: Washington Post August 03, 2022 04:19 UTC