Geopolitics and U.S. rules push chip firms to decouple from mainland China, with one major Taiwanese testing company ditching the market entirely [Yahoo! Finance]
Taiwan Semiconductor Manufacturing Company Ltd. (TSM)
Last taiwan semiconductor manufacturing company ltd. earnings: 4/17 04:00 pm
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Source: Yahoo! Finance
Washington wants to constrain China's chip development while bolstering its own semiconductor industry. Now, one Taiwanese semiconductor firm is pulling out of mainland China's chip sector altogether, blaming the effects of U.S. tech controls. On Friday, King Yuan Electronics Co. (KYEC), a major player in the testing and packaging segment of the semiconductor supply chain, said it would exit the mainland China market in a Taiwan stock exchange filing . The company said it would dispose its entire 92.16% stake in its mainland China-based subsidiary, King Long Technology (Suzhou), to a consortium of Chinese firms for 4.9 billion yuan ($676.5 million). KYEC, in its filing, said there were "many uncertainties" regarding the operating environment for King Long Technology. In a statement, the company also pointed to the impact of geopolitics on the semiconductor industry and U.S. restrictions on China's semiconductor industry. The company said it would invest in the proceeds from sell
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TSM
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TSM
Earnings
- 4/19/24 - Beat
TSM
Sec Filings
- 5/15/24 - Form 6-K
- 5/10/24 - Form 6-K
- 5/10/24 - Form 6-K
- TSM's page on the SEC website