SMIC halts sale of Ningbo wafer fab

SMIC and Goke Microelectronics jointly announced the termination of their acquisition plan for SMIC Ningbo. The transaction was originally intended to be conducted through a combination of stock issuance and cash payment. SMIC Ningbo is a leader in power semiconductors and MEMS sensors, with revenue of approximately RMB 1.28 billion in 2022.