Company at a glance
Scale
Revenue up 139% since FY2023
Growth prospects
Expanding customer base and product roadmap
via baike.baidu.com ↗2014-10-24 in Tianjin (华苑产业区), initiated under Chinese Academy of Sciences with Sugon (中科曙光) among founders; pre-IPO Sugon held 27.96%via vip.stock.finance.sina.com.cn ↗2022-08-12 on Shanghai STAR Market (688041), issue price RMB 36/share, 300M new shares, listing market value about RMB 83.7 billionChina competition
Competes with Loongson, Phytium, Alibaba T-Head, Huawei Kunpeng in CPU — peers listed at sector level.
Close behindGlobal comparables
Global reference set: Intel, AMD, Arm.
Intel (Xeon)Technical gap
≈5× behind the global best on compute-per-dollar (Hygon DCU DeepComputing II (深算二号) vs AMD Instinct MI300X).
Obstacles
US export-control exposure
via federalregister.gov ↗Added to US Commerce Department Entity List on 2019-06-24 together with parent Sugon and supercomputing centers, cutting access to US-origin technolo…All sourced facts (9)
- Listing status: Shanghai Stock Exchange STAR Market (科创板) · 688041 · A-share common stock
- Founded: 2014-10-24 in Tianjin (华苑产业区), initiated under Chinese Academy of Sciences with Sugon (中科曙光) among founders; pre-IPO Sugon held 27.96% via baike.baidu.com ↗
- IPO: 2022-08-12 on Shanghai STAR Market (688041), issue price RMB 36/share, 300M new shares, listing market value about RMB 83.7 billion via vip.stock.finance.sina.com.cn ↗
- AMD license origin: 2016: licensed AMD x86/Zen server CPU technology via two Chengdu JVs (海光微电子, AMD 51%; 海光集成电路, Hygon-controlled), enabling domestic x86 CPU production via stcn.com ↗
- Entity List: Added to US Commerce Department Entity List on 2019-06-24 together with parent Sugon and supercomputing centers, cutting access to US-origin technology via federalregister.gov ↗
- CPU generations: 海光一号 (commercialized) → 二号 (2020 volume) → 三号 → 四号 (C86-4G, up to 32 cores/64 threads, 8-channel DDR4, 128 PCIe lanes, variants M4/M6/M7); C86-5G with 128 cores and AVX-512 reported in development via finance.sina.com.cn ↗
- DCU generations: 8000-series GPGPU line: 深算一号 volume shipment 2021; 深算二号 released H2 2023; 深算三号 the on-sale mainstay by 2025; 深算四号 in R&D; ecosystem compatible with 'CUDA-like' ROCm, operator coverage above 99% via finance.sina.com.cn ↗
- Sugon merger attempt: 2025-05-25 announced ~RMB 116 billion share-swap absorption of Sugon (Sugon to delist); terminated 2025-12-09, with both firms pivoting to 'soft integration' cooperation on AI full-stack products via cls.cn ↗
- FY2025 results: Revenue about RMB 14.4 billion (+~57% YoY from RMB 9.16 billion in 2024); net profit about RMB 2.54 billion (+~32%); R&D spend about RMB 4.6 billion (31.78% of revenue) via news.futunn.com ↗
Tracked chips: Hygon DCU DeepComputing II (深算二号) · Hygon C86 7390
About
Fabless chip design: sells C86 x86 CPUs (7000/5000/3000 series across four generations) into servers and data centers, and 深算 (Deep Compute) 8000-series DCU accelerator cards compatible with mainstream LLM software stacks; monetizes through direct chip sales to server OEMs and operators.
Founded 2014 · Ticker 688041
Why it matters
Hygon is the only volume producer of x86-compatible CPUs in China and one of the few domestic AI accelerator vendors at scale; after the 2019 Entity List cut off US technology, its post-license C86-3G/4G generations and 深算 DCU line anchor China's domestic compute self-sufficiency push.
Where it sits in the stack
Key semiconductor products
- DTK/Hygon software stack and ROCm-compatible compute ecosystem for AI training and inference
- x86-lineage server CPUs
- DCU datacenter accelerators
Chip pricing
- Hygon DCU DeepComputing II (深算二号)~$7.8K · 2025
- Hygon C86 7390~$3.2K · 2026-08
Financials
688041.SS · Shanghai STAR Market 688041 · via Yahoo Finance ↗
Financial trajectory via annual filings via Yahoo Finance
RMB billionsMarket data refreshed daily; annual figures from exchange filings. Figures in the reporting currency shown on the chart.
Ecosystem
Global peer set
- Intel (Xeon)
- AMD (EPYC, Instinct)
- Nvidia (A100/H100-class accelerators)
Competitive position
- Only Chinese company volume-shipping x86-compatible server CPUs; positioned against Intel Xeon and AMD EPYC in the domestic market
- DCU line is a principal domestic alternative to Nvidia accelerators for LLM training/inference in Chinese data centers and intelligent-computing centers
- Largest STAR Market semiconductor by revenue scale among domestic CPU/GPU designers; Sugon remains its anchor shareholder and system-integration channel
- Global comparables: Intel (Xeon)
- Global comparables: AMD (EPYC, Instinct)
- Global comparables: Nvidia (A100/H100-class accelerators)
Milestones and signals
- 2014—Hygon Information Technology was founded.
- 2025—R&D Spend: CNY ~4.6 billion (31.78% of revenue)
- 2026-10-04—Market cap: RMB 527B
- FY2025—Revenue: RMB 14.4B
- FY2025—Net Profit: RMB 2.5B
- Listing—Shanghai Stock Exchange STAR Market (科创板) · 688041 · A-share common stock
What to watch
- 深算四号 DCU launch timing and performance versus Nvidia China-market parts
- C86-5G (reported 128 cores, AVX-512) development and GCC mainline support
- Post-termination cooperation with Sugon after the cancelled RMB 116 billion merger (Dec 2025)
- Sustained ~32% R&D intensity versus profit growth; continued US export-control tightening
Questions
Last reviewed 2026-07-11Answered questions
What is the measurable gap versus global reference companies?
Only Chinese company volume-shipping x86-compatible server CPUs; positioned against Intel Xeon and AMD EPYC in the domestic market.
Open questions
- Which products are qualified beyond pilots in fabless?
- Which customers, fabs, or end markets show real adoption rather than policy interest?