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China's Tsinghua Unigroup said on Friday that it had received a notice from a Beijing court saying that its creditors have called for a restructuring of the indebted chip conglomerate.
www.nasdaq.com
Isn't this company supposed to be another pillar for Chinese semis like SMIC? I remember its CEO said they going to buy TSMC.
With the rapid expansion of semiconductor companies in China, the banks were too willing to extend credit in efforts to expand quicker. Let's see which Chinese venture picks up the pieces of Tsinghua Unigroup.
www.nasdaq.com
