News Analysis Huawei has been ramping up investments in chip companies in the past three years as a part of China’s chip manufacturing movement, yet the state-backed tactic is likely headed toward failure. Just one month before the United States imposed sanctions on Huawei, the Chinese high-tech giant established on April 23, 2019, its wholly-owned subsidiary Hubble Technology Investment Co., Ltd. (Hubble) in Futian District, in Shenzhen. With registered capital adding to 3 billion yuan ($472 million), Hubble changed its business to a private equity fund manager on Jan. 14. Chinese semiconductor media said on Dec. 6, 2021, that Hubble is known for its “wolf nature” in chip investment circles, and has been moving quickly since its inception in 2019, investing in companies at a rate of nearly one per month. In May 2019, Hubble invested in Radrock Tech which produces Radio Frequency front-end chips; In July 2019, Hubble invested …