Last year I had a conversation with an employee from SMIC, who forecasted the crisis since there have been virtually a hundred managers left that company in last 6 months.
The social system underwent in that country can be seen and I have no comment to it at the moment. Let me answer your question in this way.
In chinese language, the given name of the chairman, Shang Zhou, stands for the motion of being on a shallow boat (something like Gondola) in rush river, which precisely describes the difficulty to get onto that seat.
Typical in-fight associated with the major shareholder's design to bring SMIC in under its total control, it sure does not serve well in the eyes of its customers should SMIC to change its core business model of pure foundry player... So God helps it
I am left wondering if the government is a major shareholder in this company? It seems that these votes are not in the best interests of (most of) the shareholders. There is more here than meets the eye.
This does not sound good.
No succession plan? No vote of confidence in the company's CEO?
We'd all have to wonder something else must be going on here...
That said, familiar names like Tsuyoshi Kawanishi or Lip-Bu Tan give us some comfort.
For those who do business with SMIC, what are you hearing?
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