UMC - SMIC Is Closing The Gap With Industry Leaders Despite U.S. Sanctions

• Sanctions against equipment sales to China capable of generating semiconductors with dimensions under 10nm continues under Biden.
• China's SMIC on the U.S. entity list, has had its high-end business stymied by the mandated cancellation of ASML’s EUV lithography.
• SMIC instead has been closing the gap against Taiwanese competitors TSMC and UMC at the cost-effective 28nm node used in automobiles and aerospace.
• Non-Chinese equipment companies are benefiting from the sanctions Chinese companies hoarding equipment.
• Chinese equipment companies will be the long-term beneficiaries as technology improves, particularly lithography.

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