Latest news for Shanghai Fudan (OTC:SFDMF) Stock

Shanghai Fudan Microelectronics Group Co Ltd is principally engaged in the design, development and testing of very large integrated circuits as well as provision of system solutions to customers. The Company operates through two business segments: the design, development and sales of IC products segment and the provision of testing services for IC products segment. The Company is also engaged in the production of probe cards, the development and sales of hardware and software of computers, electronic products and communication equipment and the provision of investment management and consultancy services, research and consultancy services of IC technology and research and consultancy services of computer and network technology through its subsidiaries.

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Shares in top Chinese chipmakers shed $7.7 billion in market value on October 10, as new U.S export controls restricted the sale of semiconductors 

US-China Tensions Aggravate: Chinese Chipmakers Bleed As US Sharpens Its Knives

SHANGHAI FUDAN MICROELEC by Shanghai Fudan Microelectronics Co. Ltd.

Shanghai Fudan Microelectronics Group Co Ltd

Shanghai Fudan Microelectronics Group Co (HK:1385) has released an update. Shanghai Fudan Microelectronics Group Co. Ltd. has declared a final ordi...

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Shanghai Fudan Microelectronics Group Co (HK:1385) has released an update. Shanghai Fudan Microelectronics Group Co. has successfully passed all pr...

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Shanghai Fudan Microelectronics Group Co (HK:1385) has released an update. Shanghai Fudan Microelectronics Group Company Limited announced that all...

Shanghai Fudan's Meeting Yields Key Approvals

Shanghai Fudan

Shares in top Chinese chipmakers shed $7.7 billion in market value on October 10, as new U.S export controls restricted the sale of semiconductors&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/09/28885987/nvidia-amd-analyst-slashes-price-targets-within-a-week-after-suggesting-workaround-over-china-ban" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">made with U.S</a>. technology unless vendors obtain an export license.

The controls also barred U.S. citizens or entities from working with Chinese chipmakers without explicit approval and limited the export of manufacturing tools that would allow China to develop its equipment, the Financial Times&nbsp;<a class="editor-rtfLink" href="https://www.ft.com/content/63a408cf-b4cc-4825-a6aa-ad829142e335" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">reports</a>.

Also Read:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/government/22/09/29090978/micron-wins-japanese-grants-up-to-320m-for-deepening-roots-in-the-country" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Japan Beefs Up Semiconductor Presence By Tying Up With Several Chipmakers, Latest Being Micron</a>

The U.S. commerce department had added 31 companies to its &ldquo;unverified list&rdquo; to make it more difficult for Chinese companies to manufacture or obtain advanced computer chips vital to&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/government/22/09/28945453/pressure-mount-on-us-to-blacklist-this-top-chinese-chipmaker-" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">cutting-edge technologies</a>.

The chipmakers included China&rsquo;s largest chipmaker&nbsp;Semiconductor Manufacturing International Corp,&nbsp;Hua Hong Semiconductor Ltd&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/HHUSF#OTC">HHUSF</a>),&nbsp;Shanghai Fudan Microelectronics Co Ltd&nbsp;(OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/sfdmf#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">SFDMF</a>),&nbsp;Naura Technology,&nbsp;ACM Research, Inc&nbsp;(NASDAQ:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/acmr#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">ACMR</a>) and&nbsp;Advanced Micro-Fabrication Equipment.

A Hong Kong analyst acknowledged that the restrictions affected overall sentiment in the market and are not likely to ease up. The restrictions had already sent the Philadelphia Stock Exchange Semiconductor index down as analysts warned against Chinese chip producers taking a substantial hit from the new limits.

Traders said the restrictions would likely hit big suppliers across the rest of the Asia-Pacific region.

Taiwan also expressed solidarity with U.S.&rsquo;s restrictions on China,&nbsp;<a class="editor-rtfLink" href="https://www.reuters.com/technology/taiwan-signals-its-chip-firms-will-follow-new-us-rules-china-2022-10-08/" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Reuters</a>&nbsp;reports. Taiwan, a major chip producer, is home to leading contract chipmaker Taiwan Semiconductor Manufacturing Company Ltd (NYSE:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/tsm#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">TSM</a>) and a major supplier to companies including&nbsp;Apple Inc&nbsp;(NASDAQ:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/aapl#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">AAPL</a>).

Taiwan has its own concerns about China, especially efforts by Chinese companies to poach chip talent and technical know-how. The government tightly restricts Taiwanese chip investment in China, the island&rsquo;s largest trading partner.

Taiwan&rsquo;s worries have gained pace as China mounts regular military drills&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/government/22/08/28583390/taiwan-seeks-cooperation-from-allies-as-us-china-tensions-intensify-report" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">near the island</a>.

China had opposed the U.S. Chips Act and assured aggressive measures to safeguard its legitimate&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/government/22/08/28545934/china-voices-displeasure-over-us-chips-act-threatens-aggressive-stand-if-required-report" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">rights when necessary</a>. Some provisions in the U.S. act restricted normal economic, trade, and investment activities of relevant firms in China, the country alleged.

Top U.S. lawmakers had urged the Biden administration to blacklist Chinese semiconductor company&nbsp;Yangtze Memory Technologies Co&nbsp;for allegedly violating export&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/government/22/09/28945453/pressure-mount-on-us-to-blacklist-this-top-chinese-chipmaker-" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">controls by supplying</a>&nbsp;Huawei Technologies Co, Ltd.

Photo by mohamed hassan via Pxhere

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Monday, October 10, 2022