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China’s only 3D NAND manufacturer faces bankruptcy

The Chinese high-tech conglomerate Tsinghua Unigroup confirmed on Friday that it had received a notice from a Beijing court informing one of its creditors to request bankruptcy protection for a debt company. According to statistics, as of mid-2020, Tsinghua Unigroup owes approximately US$31 billion and has US$8 billion in cash and cash equivalents. Reuters.

Tsinghua Unigroup is the owner of many Chinese semiconductor companies, including China’s only 3D NAND manufacturer Yangtze River Storage and mobile SoC designer Tsinghua Unigroup Zhanrui.After moving Reported that YMTC will postpone its 128-layer NAND production, But industry observers believe that bankruptcy is unlikely to disrupt the operation of these assets.

More than 30 billion U.S. dollars in debt

Tsinghua Unigroup is owned by two major investors: Tsinghua Holdings, a wholly-owned subsidiary of Tsinghua University, and Beijing Jiankun Investment Group, a private investment group founded by Zhao Weiguo. Zhao Weiguo is the chairman of the Unigroup. In recent years, Tsinghua Unigroup has conducted several high-profile acquisitions funded by the government and sold bonds to creditors including the state-owned Huishang Bank listed in Hong Kong.

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