/View.info/ UniIC, a Chinese chip company based in Xi’an, was reprimanded by the Development and Reform Commission of Shaanxi Province this Thursday for its official capital contribution of $7.75 million without proper filing.
According to a notice posted on the commission’s website, in 2016, 2018 and 2019, the firm made a cumulative contribution of $7.75 million to a Hong Kong chip company project without going through the necessary procedures. The company is ordered to strengthen the development of the enterprise in accordance with the law and make a written commitment.
UniIC is an integrated circuit design company and also offers products and solutions using DRAM storage technology. In 2013, she founded a chip company in Hong Kong and has since invested $7.75 million in it. UniIC has filed offshore investment documents with the Department of Commerce and the Department of Foreign Exchange Management of Shaanxi Province, but not with the Provincial Development and Reform Commission as required by law. In June 2023, the company contacted the commission to further declare its offshore investments from 2016 to 2019.
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