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Original Title: Late Night! A Moment Ago Trump Was “Crazy” Again: 100 BillionSMICCompletely “blocked”! Even more ruthless … Source: China Fund News
Chinese chip giant SMIC has just been blacklisted by the United States and announced that it will be included on the physical list. Today, SMIC faces a difficult situation both internally and externally.
More ruthlessly, there are 60 Chinese companies included in the list of entities.
Suddenly: the United States places SMIC on the list of entities
On December 18 local time, the US Department of Commerce announced that the Commerce Department’s Bureau of Industry and Security (BIS) included SMIC on the list of entities to restrict its ability to acquire key US technologies. USA
The US Department of Commerce stated that the Bureau of Industry and Security of the Department of Commerce included the Semiconductor Manufacturing International Corporation of China (SMIC) in the list of entities. This action is to protect the national security of the US US Commerce Secretary Wilbur Ross (Wilbur Ross) said: “We will not allow advanced American technology to help adversaries build military forces.” The US Department of Commerce stated that after SMIC is listed as entities, US exporters applying for a license to sell products to the company limits SMIC’s ability to source certain US technologies.
In addition to SMIC, the US Department of Commerce website stated thatBIS also included more than 60 other companies on the “entity list,” claiming that these companies had actions that “violated the interests of national security or US foreign policy.”
SinceZTE(Hong Kong Stock 00763) For Huawei, Chinese companies have been suppressed by the United States.
In addition to SMIC, the US Department of Commerce website stated that BIS also included more than 60 other companies on the “Entity List”, alleging that these companies had actions that “violated US national security. Earlier, Reuters reported on Thursday (17) local time that a person familiar with the matter revealed that the United States will include dozens of Chinese companies on the commercial blacklist on Friday, including Chinese chipmaker SMIC. Reuters noted that this The move, never reported before, is seen as the latest effort by US President Trump to cement his legacy of tough policies toward China.
Last reply from the Ministry of Foreign Affairs
On December 18, Foreign Ministry spokesman Wang Wenbin chaired a regular press conference.
A reporter called for the United States to add 80 other Chinese companies to the “blacklist.” What is China’s comment? Wang Wenbin said that if what he said is true, this will be another example of how the United States uses national power to repress Chinese companies. China strongly opposes this.
The United States politicizes economic and trade issues, violates its ever-heralded principles of market economy and fair competition, and violates the rules of international trade. Not only does it harm the legitimate rights and interests of Chinese companies, but it also does not suit the interests of American companies and will seriously interfere with the normal technology of the two countries and the world. Trade and exchanges cause damage to industrial chains, supply chains and global value chains. We urge the United States to stop wrongdoing by unreasonably cracking down on foreign companies. China will continue to take the necessary measures to safeguard the legitimate rights and interests of Chinese companies.
Affected by the news, SMIC’s A and H share prices plummeted on the 18th.
Judging from the stock price trend this year, SMIC’s H shares once hit a new high of HK $ 44.8 in intraday trading on July 15 and then began to adjust. By December 18, the cumulative drop exceeded 50% in five months. A shares reached a higher price of 95 yuan on the first trading day in July, and the last closing price was only 55.02 yuan.
SMIC internal and external issues
SMIC is currently experiencing staffing issues.
On December 16, SMIC’s personnel confusion caused a five-point drop in share prices for SMIC’s A (688981) and H (0981.HK) shares.
On the evening of December 15, SMIC announced that Jiang Shangyi, former vice president and chief operating officer of TSMC, who had just escaped the Wuhan Hongxin incident, returned to SMIC as its vice president.
However, this personnel change faced a strong backlash from current SMIC CEO Liang Mengsong. Liang Mengsong was exposed to resigning from the board of directors on the grounds of “not being respected” and “not being trusted,” but company president Zhou Zixue did not approve it on the spot. Liang’s resignation.
After Liang Mengsong’s resignation letter was exposed, on the morning of the 16th, SMIC issued an announcement stating that the company’s board of directors noted that there were media reports that the CEO and co-director Company executive, Dr. Liang Mengsong, planned to resign from the company and that the company had already known Liang Mengsong’s willingness to resign conditionally. The company is currently actively verifying its true intention to resign with Liang Mengsong, and any further announcements on the above matters will be made in due course in accordance with the Hong Kong Stock Exchange Limited Securities Trading Rules and Rules stock listing of the Shanghai Stock Exchange Science and Technology Innovation Board. Any change in the senior management of the company will be subject to the announcement made by the company.
On the night of the 16, the official website of the Shanghai Stock Exchange showed that it had issued a letter of supervision of the work to SMIC.
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