Cambricon Technologies Corporation Limited (688256.SS)

China's top fabless chip firms estimate big 2023 losses despite push for greater self-sufficiency in semiconductors

China's leading chip companies, from Loongson Technology to Cambricon Technologies, expect to log huge losses for 2023 in spite of Beijing's push for greater self-sufficiency in semiconductors, according to corporate filings. Loongson Technology, a fabless chip firm that is a firm advocate for domestic semiconductor development, is estimating a full-year loss of 310 million yuan (US$43.36 million) against a 51.8 million yuan profit in 2022. It also expects 2023 revenue to come in at about 508 mi