By Greg Gao

Chinese high-end processor maker Hygon Information Technology (海光信息) posted a record profit of RMB652 million($91 million) for the first three quarters, an increase of 424.16% over last year, as revenues surged 180.88% to RMB3.82 billion($533 million) compared to the year-ago period, the company announced on October 11.

The substantial increase in revenue is mainly due to the company’s increased market development efforts and further expansion of its product portfolio to meet the diversified needs of different customers. Chinese server vendors’ surging demand for domestic high-end processors also played an important role, said Hygon Information’s announcement.

Based in Tianjin, the company was founded in 2014 dedicated to developing high-end processors. Wiht its leading edge and market position, the company was went public on the Star Market of Shanghai Stock Exchange in August this year.

The US Department of Commerce placed 31 Chinese companies and research institutes on the “Unverified List” that restricts their ability to access specific US semiconductor technology on October 10. Hygon Information is one of them.

Hygon Information issued a statement saying that the company’s production and operation are currently normal and that being included in the US export control list would not significantly impact the company’s short-term operation or financial status. Still, the company needs to appraise the long-term impact further.

It also added that US export restrictions would bring both opportunities and challenges to the development of China’s domestic GPU industry. The company’s performance is inseparable from the support of national policies, domestic substitution trends, and the market’s growth.