By Kate Yuan

(JW Insights) Aug 30 -- Ningbo Semiconductor International Corporation (NSI), a joint venture of China’s top chipmaker SMIC, said its CEO Yue Zhiping is leading the new management team and presiding over the company's operations, refuting claims of his missing, according to the company’s statement on August 28.

NSI was founded in 2016 in Ningbo of eastern China’s Zhejiang Province, focusing on special process semiconductor covering RF front-end and MEMS sensor.

Earlier, there was rumors circulating among NSI's shareholders and employees that the company’s CEO Yue Zhiping has been absent from the company since July 8, 2023, and was currently unreachable.

The statement condemned some online media outlets for disseminating false information and maliciously slandering the company and its employees under the names of its staff, directors, and shareholders. The company has filed a report with the public security authorities, stating such actions have seriously harmed the company's and individual reputations.

NSI's statement also said its former director and general manager Huang He, former finance executive Wang Ying, and former director Chen Hong have been detained for serious illegal activities. Their actions have caused significant losses to the company through embezzlement, misappropriation of company assets for personal gain.

NSI's new management team, led by CEO Yue Zhiping, is working diligently to rectify the damage caused by Huang He, Wang Ying, and Chen Hong, as well as reshaping the company's operational management and rallying the entire team to overcome challenges together, said the statement.