# If Hua Hong Semiconductor moves, who benefits? How far does the value-chain ripple reach?
Canonical: https://valuechain.wiki/hua-hong · Facet: ripple · Updated: 2026-07-12T05:40:48.362202+00:00 · Source: ValueChain.wiki (cited money-flow graph)

**Citable summary**: Per the valuechain.wiki graph, Hua Hong Semiconductor is directly linked to 4 companies (4 supply, 0 revenue relationships) and reaches 9 companies within two hops; the links are backed by 6 dated sources, 3 of them primary filings (as of 2026-07-12).

Hua Hong Semiconductor operates across HK-listed, Foundry, China's #2 (mature nodes). It is -5.8% in 2026. The supply side (avg +57%) leads the stock (-5.8%), with spending rippling down to suppliers first. Among connected nodes the furthest ahead is ACM Research (+88.7%) and the furthest behind is Naura Technology (+34.4%). If chain logic explains the gap, the laggard is the next propagation candidate; if not, the link itself deserves a second look. The US ordered an equipment-supply halt in 2026.

## Supply chain (benefiting)
- T1 Naura Technology (https://valuechain.wiki/naura.md)
- T1 ASML (https://valuechain.wiki/asml.md)
- T2 Carl Zeiss SMT (https://valuechain.wiki/carl-zeiss-smt.md)
- T2 TRUMPF (https://valuechain.wiki/trumpf.md)
- T2 MKS Instruments (https://valuechain.wiki/mks-instruments.md)
- T2 Ichor Holdings (https://valuechain.wiki/ichor-holdings.md)
- T2 Parker-Hannifin Corporation (https://valuechain.wiki/parker-hannifin.md)
- T3 Microsoft (https://valuechain.wiki/microsoft.md)
- T1 AMEC (https://valuechain.wiki/amec.md)
- T1 ACM Research (https://valuechain.wiki/acm-research.md)

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Full node: https://valuechain.wiki/hua-hong.md · JSON: https://valuechain.wiki/hua-hong.json