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SMIC says US is placing export additional restrictions on suppliers

The move could have "material adverse effects" on its production and operations, the company said

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US China

Bloomberg 

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China’s largest chipmaker said its US suppliers have been issued with letters telling them they are subject to additional export restrictions. Semiconductor Manufacturing is evaluating the impact of the US Bureau of Industry and Security’s export restrictions on its business and operations, it said in a statement on Sunday.

The move could have “material adverse effects” on its production and operations, the company said. News of the restrictions on exports to SMIC was reported last week, causing the chipmaker’s shares to sink to a four-month low in Hong Kong trading last Monday.

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First Published: Mon, October 05 2020. 01:21 IST
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