Cambricon got the nod in early June to list on the Star Market, China’s new Nasdaq-like stock exchange conceived to attract high-potential tech startups. Before long, it had made its name as a major supplier of Huawei’s first AI chip-powered smartphones and other flagship models later on. Cambricon began life in a lab within the Chinese Academy of Sciences (CAS), the national institute for science and technology backed by government money.In 2016, the … Huawei is said to be a 100% private enterprise held by employees. The chipmaker is backed by a lineup of storied investors across the board. Huawei is one of the financially strong tech company globally and apparently, the company isn’t in need of any financial backing going by recent statements from the company’s CEO. e-commerce titan Alibaba; and voice-recognition provider iFlytek. cloud-based algorithm training and inference, Huawei’s first AI chip-powered smartphones. Target promo code - Up to 80% off electronics, Get 25% Macy's coupons with email and text sign up, Pick your perfect beauty bag for free with Sephora coupon code, Wuhan, Former Pandemic Center, Emerges as Tourist Hot Spot, WSJ Opinion: Biden to Trump: ‘Will You Shut Up, Man?’, The Stock Market Is Ignoring the Economy. Finding new clients at Huawei’s enormous scale is also challenging, as “most of the other well-known Chinese smartphone makers are using established handset chips and solutions from Qualcomm and MediaTek,” Cambricon noted. The company implemented the employee stock ownership plan through the trade unions with the total number of participants put at 96,768. That would need a lot of convincing for parties like the US government to believe. Earlier in the week at Huawei’s 2018 Annual Report press conference, Guo Ping, the rotating chairman of Huawei, also talked about the issue of an IPO. 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A Japanese semiconductor maker called off what was to have been one of this year’s biggest stock offerings, after earlier saying that U.S. export restrictions on China’s Huawei Technologies Co. were hurting its business. This week, the chipmaker received the final green light from the China Securities Regulatory Commission, the stock market watchdog, for its first-time sale. Cambricon is still operating in the red, adding up to a total loss of 1.6 billion yuan ($230 million) in the last three years in part due to large sums spent on research and development, according to its prospectus. He also stressed that going public will not solve the problem of the US government. One of China’s most valuable artificial intelligence chipmakers, Cambricon, is one step closer to its initial public offering, and its prospectus reveals a rare snapshot of where Chinese companies stand in relation to their international counterparts in this critical field. Cheapest Snapdragon 865 Smartphones that you can buy in India in October 2020, Xiaomi Mi Air 2 Pro ANC Earbuds Hands-on: Matte Finish gives a Premium Feel, Huawei Nova 7 SE 5G Vitality Edition with Dimensity 800U launched for 2,299 Yuan (~$342). Read Also: Honor Magic 2 gets price cut, now starts at ¥3499 (~$520). It generated revenues of 444 million yuan ($63 million) in 2019, up from 7.84 million yuan in 2017. In 2016, the project spun out as a separate entity, making money by licensing intellectual property and selling chips for deep-learning acceleration. Huawei is said to be a 100% private enterprise held by employees. Seasoned tech content writer at Gizmochina with a keen interest in smartphones and other tech gadgets; Robots, VR, cameras, drones, AR, and lots. Gizmochina brings you the best of Chinese Tech from emerging smartphone companies, innovative startups, to crazy smart home products and revolutionary technologies. Huawei is the world's largest maker of networking equipment. Cambricon began life in a lab within the Chinese Academy of Sciences (CAS), the national institute for science and technology backed by government money. But the partners’ ties have weakened ever since Huawei began doubling down on its own semiconductor arm — HiSilicon — to hedge against U.S. sanctions. It already had reduced the planned listing price and warned about the Huawei problem. Cambricon’s co-founders Chen Tianshi and Chen Yunji both hail from academia. Follow me on Twitter - @jedi_ikoba or on Instagram - jedikoba. HUAWEI Stock Quote Volume Open Day's Low Day's High 52 Wk Low 52 Wk High Bid Ask EPS PE Ratio Shares Market Cap Dividend Ex-Div Date Yield 1 day 5 days 10 days 1 month 3 months 6 months 1 year The company is in profitable ways, though, going by its recent financial report. The company still maintains close relationships with CAS and also works closely with Olivier Temam, a researcher at Inria, the French national institute for computer science and applied mathematics. Here's Why, WSJ Opinion: The Myth of the Moderate Democrat, Beirut Explosion: WSJ Reporter Relives the Moment in His Shattered Home, News Corp is a network of leading companies in the worlds of diversified media, news, education, and information services. The chipmaker also flagged that it remains “well behind” international competitors such as Nvidia, Intel and AMD in areas including “overall scale, capital reserve, resources for research and development and sales channels.” It’s also well aware of rising domestic competition from its old ally, Huawei, which has opted for chips from its home-grown HiSilicon unit. “Huawei Silicon has chosen to develop its own AI chips for end devices and has not extended the partnership with our company, and our AI chip business with other clients remains relatively small,” the company replied to regulators during the vetting process for its listing. He hinted that a public listing would make the company shift its focus to short term profits for investors. Besides the 41.7% stake Chen Tianshi commands, other shareholders include Zhongke Suanyuan, an asset management firm set up by CAS; Aixi Partners, an entity owned by Cambricon employees and controlled by Chen Tianshi; SDIC Venture Capital, a state-owned investment firm approved by China’s state council; e-commerce titan Alibaba; and voice-recognition provider iFlytek. He pointed out that Huawei has no listing plan yet. Huawei has invested heavily in Research and Development (R&D) over the years and we see the result in the innovative technology that accompanies its smartphones. Company profile page for Huawei Technologies Co Ltd including stock price, company news, press releases, executives, board members, and contact information The company is aiming to raise 2.8 billion yuan ($400 million) from its IPO and spend the proceeds on cloud-based algorithm training and inference, edge computing and cash flow boost. The participants were said to be employees of the company only and no government parastatal or institutions held Huawei’s equity. Richard Yu also stated that basic research was a very important factor for the core competitiveness of enterprises and countries. Richard Yu, CEO of Huawei’s consumer Business at the IT Leaders Summit held today in Shenzen, China, disclosed why the company isn’t going public anytime soon and that is because it is investing in the future. It was last valued at 2.5 billion yuan in 2018 and expects its market cap to exceed 1.5 billion yuan when it floats. The direct consequence is a substantial revenue drop for Cambricon’s licensable IP, which slumped to an estimated 16-18 million yuan in 2018, down from 117 million yuan in 2018. Kioxia Holdings Corp., owned by a Bain Capital-led consortium, had planned to list its shares on the Tokyo Stock Exchange on Oct. 6 at a price that would give the company a valuation of around $16 billion.