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The reasons are not really clear
While some Chinese chip development companies are actively developing, others unexpectedly declare bankruptcy. Huaxia Chip reportedly did just that.
Huaxia was named one of the top five Chinese innovative IC companies in the 2020 China IC Design Achievement Award. It holds intellectual property rights to CPU, DSP, GPU and AI design blocks. Apparently, her developments have been and are being used in robotics, peripheral devices, the Internet of Things and cloud computing platforms.
The company has been around for quite some time, and it is not yet very clear what exactly led to bankruptcy, but there is some connection with the lawsuit from the Xi'an Jiubufang Enterprise Management Partnership.