burst! SMIC released the latest announcement! Get out of the US financial markets!

SMIC issued an announcement saying that it was notified by OTC Markets Group, the operator of the OTCQX market, that in accordance with the executive order and relevant regulatory guidelines, the company will be withdrawn from the OTCQX market at the close of trading on January 6 (Wednesday), and the company’s securities ( SIUIF, SMICY) will no longer be eligible to quote or trade on OTC Link ATS.

It is understood that OTCQX is a financial market for over-the-counter securities in the United States. After SMIC was delisted from the New York Stock Exchange in 2019, the company’s ADR shares were traded in the OTCQX market.

SMIC’s withdrawal from the OTCQX market was affected by the previous US executive order. SMIC announced on December 4 last year that the company was listed by the United States. U.S. persons will be restricted from trading in securities issued by SMIC and their related derivatives: after 60 days from December 4, 2020, Beijing time, U.S. persons cannot buy company securities; after 365 days, U.S. Persons may not trade company securities.

Earlier, FTSE Russell also announced that from the opening of the market on January 7, the stocks of three companies including SMIC will be removed from the FTSE global stock index series and the FTSE China A-share index.

After delisting from privatization in the United States, SMIC landed on the Science and Technology Innovation Board in July last year. At the close of today’s market, SMIC’s Hong Kong stock market soared by 19% in late trading, and it still closed up more than 12%. It also rose by 3% on the Science and Technology Innovation Board.

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