DIRS.INFO The most relevant business & tech news

☆ China's semiconductor state fund invests $2 billion in memory chip firm
▼ + stars: | 2023-10-31 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Florence Lo/Illustration//File Photo Acquire Licensing RightsBEIJING, Oct 31 (Reuters) - China's state-backed chip investment fund has invested 14.56 billion yuan ($1.99 billion) in a memory chip company called Changxin Xinqiao, records showed. According to company registration website Qichacha, Changxin Xinqiao was founded in 2021 in Hefei city, in the eastern Anhui province. Its general manager is Zhao Lun, who is the general manager of ChangXin Memory Technologies, one of China's leading memory chip companies. Changxin Xinqiao and the Big Fund did not immediately respond to Reuters' requests for comment. The organization raised 138.7 billion yuan for its first fund, and 204 billion yuan for its second fund.

Persons: Florence Lo, Changxin Xinqiao, Zhao Lun, YMTC, Changxin, Yelin Mo, Roxanne Liu, Brenda Goh, Simon Cameron, Moore Organizations: REUTERS, Rights, China Integrated Circuit Industry Investment Fund, National Enterprise, Technologies, Big Fund, Memory Technologies, Huawei Technologies Co, Big, Reuters, Thomson Locations: China, Rights BEIJING, Changxin, Hefei city, Anhui, United States, Changxin Xinan, Hefei Xinyi, Taiwan, South Korea, Beijing, Shanghai

☆ House lawmakers urge US to rally allies over China Micron ban
▼ + stars: | 2023-06-02 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

The move came a day after leaders of the G7 industrial democracies agreed to new initiatives to push back against Chinese economic coercion. McCaul and Gallagher urged Raimondo to work with Japan and South Korea to ensure that companies from those countries "do not take market share lost to the ban and undercut Micron." The lawmakers added that China "lashed out with an arbitrary economic embargo against one American company. Raimondo on Saturday said the United States will not tolerate China's action and is working closely with allies to address such "economic coercion." Reuters has reported Gallagher previously urged Raimondo to put trade curbs on Changxin Memory after Beijing's actions against Micron.

Persons: Joe Biden's, Michael McCaul, Mike Gallagher, Gina Raimondo, Gallagher, Raimondo, Saturday, McCaul, David Shepardson, Will Dunham Organizations: Micron Technology, Foreign Affairs Committee, Chinese Communist Party, . Commerce, Micron, Commerce Department, Embassy, Technologies, Reuters, Thomson Locations: Japan, South Korea, China, Washington, Beijing, United States, People's Republic of China, U.S

As Japan and the United States place fresh curbs on Chinese technology firms, local investors are scooping up shares of those firms and state companies, and reaping handsome rewards. New fund launches will potentially channel money into China's technology and chipmaking leaders, including ZTE Corp (000063.SZ), Unisplendour Co (000938.SZ), Montage and Cambricon Technologies (688256.SS). Cutting-edge innovation requires huge and long-term investment, which is beyond the ability of private companies, "but SOEs can do it," Yang said. For example, China's chipmaking sector is now trading at 60 times earnings, compared with 16 for the broad market. But "China needs high valuation in some sectors ... Why don't you put down your wager, while also supporting the country's development?"

☆ Factbox: Chinese chipmakers caught in U.S.-China tech spat
▼ + stars: | 2023-01-31 | by ( Josh Horwitz | ) www.reuters.com time to read: +4 min

TSMC is the world's most valuable chipmaker and counts Apple Inc (AAPL.O) and Nvidia Corp (NVDA.O) among major clients. Its government-backing and ambition to make high-end chips caught the attention of the United States which put the firm on its Entity List in 2020. To date, most of SMIC's sales are made using the outdated 45 nanometer process node and above. Since late 2020, this specialisation in older chips has proven a boon due to a global shortage of lower-end chips. It produces DRAM at the 19 nanometer node and is moving into the 17 nanometer node - process nodes behind the industry leading-edge.

☆ Analysis: China faces its "Sputnik" moment as US export curbs deal a blow to its chip ambitions
▼ + stars: | 2022-10-13 | by ( ) www.reuters.com time to read: +6 min

The measures are set to undermine China's efforts to develop its own chip industry aimed at reducing its reliance on foreign-made chips. These are the questions," says Marco Mezger, a consultant in Taiwan who tracks the global memory chip sector. Washington is also scrambling to tackle unintended consequences of its new export curbs, people familiar with the matter said. Hours before the new restriction took effect, South Korea's SK Hynix (000660.KS) said it got U.S. authorization to receive goods for its chip production facilities in China without additional licensing imposed by the new rules. Yet business at toolmaking firms servicing Chinese customers has already slowed dramatically, leaving their staff with little work to do but creating an opening for Chinese equipment makers seeking to catch up with western rivals, sources said.

☆ Exclusive: KLA to stop sales and service to China to comply with U.S. export curbs
▼ + stars: | 2022-10-11 | by ( Josh Horwitz | ) www.reuters.com time to read: +4 min

The move underscores huge business headwinds facing chipmakers and chip equipment makers around the world, as the Biden administration published a sweeping set of export controls on Friday aimed at slowing China's progress in advanced chip manufacturing. The source added that the company would also cease supplying China chip plants owned by Intel (INTC.O) and SK Hynix, the world's second-largest memory chipmaker. SK Hynix reiterated its stance that it would seek a license under new U.S. export control rules for equipment to keep operating its factories in China. Another source at an overseas chip equipment company told Reuters that all of the major suppliers to fabs were working round-the-clock to assess the long-term impact of the regulations. Shares in KLA tumbled nearly 5% on Monday, hit by the latest U.S. export control measures.

☆ China tech shares sink as U.S. export curbs raise chip sector hurdles
▼ + stars: | 2022-10-10 | by ( ) www.reuters.com time to read: +7 min

The most immediate impact is likely to be felt by Chinese chipmakers, they said. The new regulations will now pose major hurdles for the two Chinese memory chipmakers, analysts said. A steep decline in tech shares led China's market down on its first post-Golden Week holiday trading on Monday. An index measuring China's semiconductor firms (.CSIH30184) tumbled nearly 7%, and Shanghai's tech-focused board STAR Market (.STAR50) declined 4.5%. SMIC dropped 4%, chip equipment maker NAURA Technology Group Co (002371.SZ) sank 10% by the daily limit, and Hua Hong Semiconductor plunged 9.5%.

Search resuls for: "Changxin"

7 mentions found