华为关联企业在2019年制裁后通过Hubble等投资工具参投逾60家半导体企业，推动横向收购与产能扩张，形成面向AI服务器的独立供应链。深圳高交会三日吸引约450000人，CloudMatrix 384服务器与Ascend芯片成为核心展示点，强调在美国封锁背景下的自主性能。中国计划于2026至2028年在300毫米先进设备上投入940亿美元，并设立470亿美元基金支持本土厂商，与美国企业依赖全球合作形成对比。

被投企业通过并购与建设新厂加速规模化。江苏HHCK以16亿元人民币收购国内同行，整合中国排名第一与第二的耐热环氧树脂产能，同时扩大全球客户基础，华为持股2%。Vertilite于9月在江苏投产总额5.5亿元人民币的光通信化合物半导体工厂，上海Winscene与Aerotech分别推进光刻胶及气体管线与阀门产能建设，均有华为小额持股。上述布局集中覆盖材料、器件与核心部件，强化国产替代周期。

EDA成为核心缺口领域。Empyrean未获华为投资却进行紧密协作，显示技术验证链条的战略整合趋势。美国Nvidia等通过跨区域合作形成高竞争力，而中国以华为为中心构建全栈体系导致进展仍落后，技术追赶空间未定。

Huawei affiliate firms have accelerated acquisitions and capacity expansion since U.S. sanctions in 2019, using vehicles such as Hubble to invest in over 60 semiconductor companies and build an independent AI-oriented supply chain. The China Hi-Tech Fair drew roughly 450,000 visitors in three days, with CloudMatrix 384 servers and Ascend chips highlighted under tightening U.S. restrictions. China plans USD 94 billion in 300-mm equipment investments for 2026–2028 and has created a USD 47 billion fund, contrasting with U.S. firms that rely on global partnerships.

Portfolio companies are scaling through new plants and takeovers. Jiangsu HHCK acquired a domestic competitor for RMB 1.6 billion, merging China’s top two epoxy-resin producers while expanding global reach; Huawei holds 2%. Vertilite opened a RMB 550 million compound-semiconductor facility in September, while Shanghai Winscene and Aerotech expand photoresist and gas-pipeline capacity, each with small Huawei stakes. These moves converge across materials, devices, and components to reinforce substitution cycles.

EDA remains a structural gap. Empyrean, though not funded by Huawei, is engaged in close co-development, indicating deeper integration of verification chains. Nvidia and other U.S. firms sustain competitiveness through multi-region collaboration, while China’s Huawei-centric chain still trails, leaving technological catch-up uncertain.