chip Photo:VCG

Semiconductor maker Wuhan Hongxin Semiconductor Manufacturing Co (HSMC) has been reportedly fully taken over by the local unit of the State-owned Assets Supervision and Administration Commission of the State Council (SASAC) in Dongxihu district, Wuhan in Central China's Hubei Province.

90 percent stake of the main shareholder of HSMC, Beijing Guangliang Lantu Technology Co, was acquired by Wuhan Guangliang Lantu Technology Co, which is 100 percent owned by the SASAC unit in Dongxihu district, according to tianyancha.com. 

HSMC, founded in November 2017, planned to make wafers with advanced logic technology in sizes of 7 nanometers and 14 nanometers. Each of the production lines was expected to make 30,000 pieces per month. The plan also called for a wafer-level advanced packaging production line.

According to a report by the Global Times in September, the major chipmaking project of HSMC has grounded to a halt and may be abandoned for lack of funds. Warnings after failure of Wuhan chip project 2020/9/7 20:53:42

"We are not clear about what will happen to the project in future," one staff of SASAC in Dongxihu district told the Global Times in an interview on Monday. 

Jiang Shangyi, the former general manager and the CEO of HSMC who had also worked as an executive at Taiwan Semiconductor Manufacturing Company (TSMC) and Semiconductor Manufacturing International Corporation (SMIC), resigned when the HSMC was reported to be short of funds in the second half of 2020.