During the Track Record Period, the percentages (based on number of units sold) of SoCs incorporated into our solution sold that were produced in mainland China were 17.1%, 19.1% and 52.1%, respectively.
Business · 第 161 页
Thus, as advised by our U.S. export controls counsel, taking the suppliers’ confirmations and our understanding of relevant rules, the Company is of the view that there is no license required for our procurement of those chips subject to the EAR.
Business · 第 163 页
Nevertheless, according to Frost & Sullivan, there are more than 25 alternative domestic suppliers who provide SoCs with comparable quality and price.
During the Track Record Period, we procured certain software and services from the U.S., primarily software used in developing our AOS for automotive-grade chips. The aggregate procurement amount was RMB43.3 million, representing approximately 1.8% of our total procurement during the Track Record Period.
Business · 第 175 页
As advised by the U.S. Export Control Legal Advisor, a China-based company's purchase of U.S.-origin software does not, in itself, constitute an "export" under the EAR.
Business · 第 175 页
Nevertheless, according to CIC, there are more than 15 alternative domestic suppliers who provide such software services with comparable quality and price.
During the Track Record Period, our revenue derived from the U.S. was insignificant, and products sold in the U.S. were primarily manufactured in Europe rather than exported directly from Chinese Mainland.
Summary · 第 27 页
Our Directors are of the view that recent geopolitical developments and U.S.-China trade tensions have not had a material adverse effect on our operations or financial performance.
For example, the U.S. Department of Commerce issued an ‘‘Is Informed’’ letter to Supplier F in November 2024, imposing immediate export restrictions to prevent Supplier F’s shipment of certain types of advanced semiconductor products to China, particularly those used in AI applications.
Business · 第 220 页
As a result of the foregoing, we experienced a temporary disruption in supply of certain types of co-packaged integrated circuits used for several of our products from late November 2024 to early February 2025.
Business · 第 220 页
This temporary supply interruption did not materially affect our operations primarily because we had proactively built up and maintained sufficient inventory levels to fulfill customer commitments; the timing of the disruption coincided with typical seasonal industry slowdowns in customer demand; and importantly, we had already initiated and made substantial progress in implementing alternative supply arrangements as part of our routine supply chain risk management strategy.
北京智谱华章科技股份有限公司Knowledge Atlas Technology Joint Stock Company Limited02513.HK
公司及九家附属公司被列入实体清单
On January 16, 2025, our Company and nine of our subsidiaries were added to the Entity List administered by the BIS.
Summary · 第 22 页
During the Track Record Period and prior to the Entity List Addition, we purchased certain computing hardware containing U.S.-origin AI chips subject to the EAR in compliance with the relevant export control rules and regulations and we have not procured any items subject to the EAR since August 2023.
Business · 第 214 页
In light of the above, the Entity List Addition has not had, and our Directors are of the view that (assuming there is no expansion of the EAR restrictions or the scope of the Entity List Addition) it will not have in the near future, any material adverse impact on our business and financial performance.
The purchase amount of such 3B001.A items was approximately RMB245.7 million, RMB4.4 million, RMB0.7 million and RMB0.2 million in 2021, 2022, 2023 and the six months ended June 30, 2024, respectively, accounting for 13.7%, 0.5%, 0.1% and 0.1% of our total purchases in the respective periods.
Business · 第 294 页
As advised by our Export Control Consultant, considering that the U.S. Department of the Treasury does not propose to apply the Final Rule retroactively, existing investments made by U.S. persons in our Company (including investment by Dr. Luo) or investments made before the implementation of the forthcoming regulations are not expected to be affected.
Business · 第 295 页
As advised by our PRC Legal Advisor, as of the Latest Practicable Date, considering that (i) we primarily procured trimethylgallium for production, as gallium is not a direct raw material used in our production, and manufactured GaN product is not expressly set out in Announcement No.23 or Announcement No. 46, and (ii) our main business does not include the export of any items listed in the Announcement No. 23, nor does it include any export of dual-use items to the United States listed in the Announcement No. 46, Announcement No. 23 and Announcement No. 46 are not expected to have material adverse impact on our business, financial condition and results of operations.
In 2021, 2022, 2023 and the six months ended June 30, 2024, the amount of semiconductors incorporated into the Group's solutions that were sourced from the U.S. was approximately RMB52.1 million, RMB14.4 million, RMB21.9 million and RMB9.6 million, respectively, representing 20.9%, 5.3%, 5.6% and 6.7% of the total amount of semiconductors procured during the same period.
Business · 第 307 页
Aware of the U.S Chip Export Restrictions, we gradually reduced the use of semiconductors sourced from the U.S. and formulated plans to replace such semiconductors with semiconductors sourced from PRC or other countries.
Business · 第 307 页
Our Directors are of the view that the restrictions imposed by the EAR, including the BIS 2022/23 IFRs, had not negatively impacted our operations or financial performance as of the Latest Practicable Date.
黑芝麻智能国际控股有限公司Black Sesame International Holding Limited02533.HK
美国出口管制新规对代工及采购安排的影响评估
On October 7, 2022, the U.S. Department of Commerce’s Bureau of Industry and Security (BIS) released an Interim Final Rule (the 2022 Rule) that implemented several new export controls to restrict China’s access from the U.S. and overseas sources relying on U.S. technology to certain advanced computing technology, semiconductors, and related items used in the manufacturing of semiconductors.
Business · 第 295 页
K&L Gates, our legal advisors as to U.S. export control laws, confirmed that during the Track Record Period, the arrangements between the Group, Shanghai International and TSMC are not materially impacted by any U.S. export restrictions currently in effect.
Business · 第 276 页
The Company’s sales transactions with Shanghai International and TSMC were not significantly impacted by the new U.S. export control restrictions, since the restrictions are broadly inapplicable to the products involved.
Our procurement of semiconductor chips from U.S. suppliers accounted for 83.0%, 39.5%, 68.5% and 68.1% of the total procurement amount of semiconductor chips in 2020, 2021 and 2022 and the six months ended June 30, 2023, respectively, while procurement from PRC suppliers accounted for 17.0%, 60.5%, 31.5% and 31.9% in the same periods, respectively, based on our management accounts.
Business · 第 204 页
As of the Latest Practicable Date, we had not been added to any of the Relevant Lists, nor had there been any changes to the scope of U.S. export controls solely as a result of this request.
Summary · 第 16 页
As of the Latest Practicable Date, based on the scope of the proposed regulation and our Company’s confirmation that our LiDAR products are intended for commercial use only, our legal advisor as to U.S. export controls, sanctions, customs, and foreign investment laws and regulations is of the view that even after it takes effect, the process is not likely to prohibit investment in our Company or the sale of our products.