SMIC personnel shock: Jiang Shangyi leaves and Liang Mengsong resigns

Following the departure of former chairman Zhou Zixue, SMIC ushered in a major personnel adjustment again.
International e-commerce news, on the evening of November 11, SMIC International announced that Jiang Shangyi resigned as vice chairman, executive director and member of the strategy committee of the board of directors because he wanted to spend more time with his family, effective from November 11, 2021.
This is less than a year before Jiang Shangyi officially returned to SMIC.
In fact, it was previously reported that Jiang Shangyi had withdrawn because his advanced packaging was not valued. Especially after Zhou Zixue, the former chairman who strongly invited him to return, left, he received less support.
On the evening of December 15, 2020, SMIC announced that Jiang Shangyi had been appointed as vice chairman of the board of directors, class II executive director and member of the strategy committee of SMIC, and his term of office was from December 15, 2020 to the 2021 annual general meeting of shareholders.
When the news was announced, Liang Mengsong, who was then the joint CEO of SMIC, strongly opposed it. He submitted a written resignation to the board of directors on the day of the news announcement, and then stayed in his original post.
According to public information, Jiang Shangyi has worked in the semiconductor industry for more than 40 years, worked in Texas Instruments and Hewlett Packard, and then served as vice president of R & D of TSMC. By the end of 2013, Jiang Shangyi retired and worked as the co operating director of TSMC. At the end of 2016, he served as an independent non-executive director of SMIC international. He resigned after the expiration of the contract for 3 years, and moved to Wuhan Hongxin at the end of the same year.
According to SMIC data, Jiang Shangyi has participated in the research and development of CMOS, NMOS, bipolar, DMOS, SOS, SOI, GaAs laser, led, electron beam lithography, silicon-based solar cells and other projects. At TSMC, he led the 0.25 μ m、0.18 μ m、0.15 μ m、0.13 μ m. The R & D of key nodes such as 90nm, 65nm, 40nm, 28nm, 20nm and 16nm FinFET has developed TSMC's industry position from a technology follower to a technology leader.
Liang Mengsong resigned as executive director
SMIC also announced several news on the same day. Liang Mengsong, executive director and co CEO, resigned as executive director in order to focus on performing his duties as co CEO. After resigning from the above positions, Liang Mengsong will continue to serve as co CEO.

Change of position on the board of directors
Meanwhile, due to work needs, Zhou Jie resigned as a non-executive director, a member of the Remuneration Committee of the board of directors and a member of the audit committee of the board of directors; Yang Guanglei resigned as an independent non-executive director and a member of the Remuneration Committee. For the above vacancies, SMIC appointed fan Renda and Liu Ming, independent non-executive directors, as members of the Remuneration Committee; Liu Zunyi, an independent non-executive director, was appointed as a member of the audit committee.

SMIC said that the above changes had no significant impact on the company's operation and management.
Revenue in the third quarter increased by more than 20% year-on-year
SMIC also announced its third quarter results on the same day. The financial report shows that in the third quarter of 2021, the company's sales revenue was 9.281 billion yuan, an increase of 21.5% over the same period of the previous year; The net profit attributable to shareholders of listed companies was 2.077 billion yuan, an increase of 22.6% year-on-year.

SMIC said that since it was included in the "entity list" by the United States, the company's production and operation have faced great challenges. Since the beginning of the year, the company has focused on ensuring production continuity and continuous capacity expansion, reorganized the supply chain, optimized the procurement process, accelerated supplier verification, and improved production planning and engineering management.
According to the announcement, the company's production continuity has been basically stable. SMIC said that from the second quarter, in view of the shortage of production capacity, it further clarified the production capacity allocation strategy, and orderly allocated production capacity and optimized production scheduling to support the needs of customers.

Looking forward to next year, SMIC believes that the overall prosperity of the market is still good, and the production capacity shortage is expected to last until the whole year of next year.

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