Ningbo Semiconductor International Corporation (NSI), a subsidiary of China’s leading chip company Semiconductor Manufacturing International Corporation (SMIC), issued a statement on Tuesday stating that former executives Huang He and Wang Ying were sentenced to four years of imprisonment by the Beilun District People’s Court of Ningbo city for embezzlement. NSI has been receiving inquiries from various parties regarding whether settlements have been reached with the defendants after the first-instance verdict, handed down on Nov. 14, 2023, as revealed by the statement. The company reaffirmed its commitment to respecting judicial fairness and underscored that it will not engage in any settlements with Huang He and Wang Ying. Huang He, a founding veteran who joined SMIC in 2002, relocated to Ningbo along with dozens of core team members upon the establishment of NSI in 2016.[[Icsmart, in Chinese]
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