AI summary
Summary of article:
In May this year, Culper Research, a short-selling agency in the United States, raised the question that Huida’s Chinese business had not disappeared, and pointed out that Huang Renxun and Huang Le were very close. Subsequently, Huida’s share price dropped from approximately US$225 to US$186.
Huida ceoJen-Hsun Huang On the 8th, he admitted to having an extramarital affair with Huang Le, a former senior director of Singapore’s data center MegaSpeed. The US government believes that Huang Le is engaged in espionage for China. The British Guardian reported that Culpeper Research, a short-selling research firm headquartered in New York, issued a report in May this year that questioned Huida’s business in China and said it was uneasy about the close relationship between Huang Renxun and Huang Le.
Culpeper Research reported at the time that Huida had “serious China problems.” Huida once said that after the United States imposed export controls on artificial intelligence chips (AI) in April last year, the company’s business in China “has returned to zero.” However, Culpeper Research questioned Huida’s statement, believing that Huida chips “continue to flow into the Chinese market through sales to intermediaries that are not subject to export control restrictions, and through transshipment into China.”
CulperResearch estimates: “More than 20% of Huida’s computing business revenue in fiscal year 2026 will still come from the Chinese market.”
The report also said Huang maintained an “extremely close and troubling relationship” with MegaSpeed’s Huang Le. Additionally, the report claims that MegaSpeed has secretly received funding from Alibaba through a series of apparent shell companies.
CulperResearch warned: “We are short Huida stock and believe its share price will decline further.”
Huida’s share price has actually declined since May this year. At that time, the stock price per share was approximately US$225, while the closing price on November 6 was US$186. The market expected the share price to fall further on the 9th.
Summary FAQ
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The agency believes that Huida’s business in China has not truly returned to zero, questions the continued flow of chips into China through intermediaries and transshipment, and estimates that more than 20% of computing business revenue in fiscal year 2026 will still come from China.
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The report pointed out that Huang Renxun maintained an extremely close and troubled relationship with Huang Le, a former senior executive of MegaSpeed, and raised this with outside suspicions about Huida’s related business in China and the source of funds.
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The article states that Huida’s share price has fallen significantly since the release of the report in May this year. At that time it was around US$225 and closed at US$186 on November 6. The market also expected that it might fall again in the future.
