174B Market Cap Hongxin Electronics Partners with Huawei Ascend to Build China's First 'Token Factory' in Wuxi

Hongxin Electronics and Wuxi National High-Tech District will build one of China’s first Huawei Ascend-based “Token Factory” hubs.

The project centers on Huawei Ascend 384 super-node clusters, aimed at large-scale AI inference and training without Nvidia hardware.

China Telecom and regional affiliates are also commercializing token subscription services, expanding AI compute access nationwide.

Government-backed procurement and telecom-led rollout signal China’s push to localize AI infrastructure with domestic chips.