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A groundbreaking announcement has reverberated through China's computing power industry, as domestic chip powerhouse Hygon is poised to merge with fellow industry giant Sugon. In a joint statement released last night, Hygon and Sugon confirmed that they will undergo a strategic restructuring process. Specifically, Hygon will absorb and merge Sugon by issuing A-share stocks in exchange for Sugon shares, while also securing additional funding to support the transaction. This monumental merger is anticipated to bolster the combined market value of the two companies to approximately 390 billion yuan. Consequently, both companies will be temporarily suspended from trading starting today, with an estimated suspension period not exceeding 10 trading days.
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