China’s No. 2 chip foundry, Hua Hong Semiconductor, acquires sister foundry in Shanghai, while SMIC takes full control of a subsidiary. Hua Hong’s acquisition is valued at 8.27 billion yuan, and SMIC’s at 40.6 billion yuan, signaling consolidation in China’s semiconductor industry amid tech self-sufficiency efforts. Hua Hong gains production capacity and profitability, boosting stock price. SMIC aims to enhance asset quality and achieve record revenue. China’s IC output and exports are on the rise, reflecting the country’s growing presence in the semiconductor market.

Read more at Yahoo Finance: China’s top contract chipmakers pursue acquisitions amid Beijing’s self-sufficiency drive