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UniIC, a Chinese chip company based in Xi'an, Northwest China's Shaanxi Province, was reprimanded by the Shaanxi Provincial Development and Reform Commission on Thursday due to its official capital contribution of $7.75 million without a proper filing.

According to an announcement released on the website of the commission, it has been verified that in 2016, 2018 and 2019, the enterprise made a cumulative contribution of $7.75 million for the construction of a chip company project in Hong Kong without going through the required filing procedures. The company has been ordered to strengthen the development of the enterprise in compliance with the law and to make a written commitment.

UniIC is an integrated circuit design enterprise, and it also offers products and solutions using DRAM storage technology. In 2013, it set up a chip company in Hong Kong, and has since invested an additional $7.75 million in the company. 

The completed the filing for the offshore investment with the commerce department and foreign exchange management department, but did not complete the filing with the Provincial Development and Reform Commission.

In June 2023, the company took the initiative to contact the commission to request an additional filing for its offshore investment behavior from 2016 to 2019. 

The commission said in the announcement that it hopes overseas investment enterprises will learn a lesson from this and effectively strengthen the management of their overseas investment projects, so as to prevent the recurrence of such problems.