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Technology Stocks : Silicon Motion Inc. (SIMO)

SIMO 88.67

-0.2%

Dec 1 3:59 PM EST

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From: Sam	7/26/2023 8:05:14 AM
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excerpt from the SAMR document, translated by google translate-- In view of the fact that the concentration of operators in the third-party NAND flash memory main control chip market in China has or may have the effect of eliminating or restricting competition, according to the additional restrictive condition commitment plan submitted by the applicant, the State Administration for Market Regulation has decided to approve this project with additional restrictive conditions. Concentration requires the parties to the transaction and the entity after concentration to perform (including but not limited to) the following obligations: (1) Continue to supply NAND flash memory main control chip products to China in a fair, reasonable and non-discriminatory manner. Fulfilling Silicon Motion Technology's existing customer contracts. Maintain existing business relationships with Silicon Motion. (2) Shall not substantially change the existing business model and operation of Huirong Technology. (3) Retain Huirong Technology's research and development related to NAND flash memory main control chips in Taiwan, China. (4) Retain Silicon Motion's field application engineers in China as part of the research and development resources to provide support to customers of Silicon Motion's NAND flash memory main control chips. (5) For the NAND flash memory main control chip sold in China, no malicious code shall be added to its design. In addition to handling the supervision and implementation of restrictive conditions in accordance with this announcement, the commitment plan for additional restrictive conditions submitted by the declaring party to the State Administration for Market Regulation on July 25, 2023 is legally binding on both parties to the transaction and the entity after concentration. The above commitments are valid within 5 years from the effective date, and will be automatically released after the expiration of the period. The State Administration for Market Regulation has the right to supervise and inspect the fulfillment of the above obligations by the declaring party through the supervisory trustee or by itself. If both parties to the transaction and the centralized entity fail to fulfill the above obligations, the State Administration for Market Regulation will deal with it in accordance with the relevant provisions of the Anti-Monopoly Law. This decision takes effect on the date of announcement. Full document in Chinese here: samr.gov.cn

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