SMIC is evaluating the impact of export restrictions on the company’s production

SMIC has previously issued an announcement to explain the export control incidents of the US Department of Commerce. Currently, SMIC has issued a new announcement saying that it is assessing the impact.

SMIC stated that the company is communicating with the U.S. Bureau of Industry and Security for restrictions, and the company is also actively communicating with the U.S. government.

Due to the extended or inaccurate supply period of some equipment, accessories, and raw materials exported from the United States, it may have a material adverse effect on the company’s future production and operation.

Next, SMIC will continue to maintain communication with the US Department of Commerce and other relevant government departments, and perform information disclosure obligations in strict accordance with relevant laws and regulations.

“We’re evaluating the impact of the export restrictions on the company’s production and business activities,” said SMIC, while adding that it will maintain communication with the relevant U.S. departments.

Via: CGTN