SMIC says US blacklisting will hurt its advanced technology R&D

HONG KONG, Dec 20 — China’s biggest chipmaker SMIC said today that being put on a US trade blacklist would pose a significant adverse impact to its research and development in its 10-nanometer and more advanced chip technology.

The United States added dozens of Chinese companies, including SMIC and Chinese drone manufacturer SZ DJI Technology Co, to a trade blacklist on Friday.

In a filing on the Shanghai stock exchange, the chipmaker said it did not expect the US decision to have a major negative impact on its short-term operations and finances.

SMIC said it would keep communicating with the US government and take all possible steps for a solution. — Reuters