Wuhan Hongxin Semiconductor Manufacturing Co. Ltd. (HSMC), an $18.5 billion company that aimed to become one of China's leading high-tech chipmakers, lost its chief executive amid a cash crunch that pushed the company to the verge of collapse.
Chiang Shang-yi, a semiconductor industry veteran who became the CEO and general manager of HSMC in July 2019, resigned from all posts at the Wuhan-based company in July, a lawyer's statement viewed by Caixin shows.
