Semiconductor Manufacturing International Corporation, China’s biggest chipmaker, warned on Thursday that its business was suffering delays and uncertainty due to US export restrictions introduced in September, even as it reported a 32 per cent rise in third-quarter revenue to $1.08bn.
SMIC, regarded as China’s most promising hope for breaking the country’s dependence on foreign manufacturers, acknowledged it was facing “extended or uncertain delivery lead times” for some US equipment as well as logistics delays due to the restrictions.
However, the company’s executives insisted the situation was “manageable”.
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