Largest Chinese Chip Maker SMIC Announces Withdrawal from NYSE

cageymaru

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China's largest chip maker SMIC has announced that it is delisting from the New York Stock Exchange after June 13, 2019. A spokesperson for SMIC told CNBC the move isn't related to the ongoing trade war. Some reports say sanctions are expected for "as many as five Chinese video surveillance companies, including the largest, Hangzhou Hikvision Digital Technology, and Zhejiang Dahua Technology."

“SMIC has been considering this migration for a long time and it has nothing to do with the trade war and Huawei incident,” a spokesperson from Semiconductor Manufacturing told CNBC. “The migration requires a long preparation and timing has coincided with the current trade rhetoric, which may lead to misconceptions.”
 
Oh Hikvision sanctions will hurt a lot of guys in the security business I'd say
Their cameras are frikkin everywhere over here
 
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