SMNC definition
Examples of SMNC in a sentence
As China IC Fund is a connected person of the Company, its wholly-owned subsidiary Xinxin (Hongkong) Capital Co., Limited and its other associates (as defined in the Listing Rules) will abstain from voting on the ordinary resolution to approve the SMNC Framework Agreement and the transactions contemplated thereunder.
The terms of the SMNC Framework Agreement are subject to compliance with applicable laws and regulations including the requirements of any regulatory authorities (including but not limited to the Stock Exchange and the Shanghai Stock Exchange).
As the market demand for 28 nanometer and 40 nanometer products continues to increase, the Company will continue to allocate its manufacturing of 28 nanometer and 40 nanometer products to SMNC to ensure future wafer production needs of the Group are met.
The business partnership between the Company and SMNC has helped to eliminate some duplicated efforts relevant to the introduction and manufacturing processes for IC design houses, therefore reducing the time to market and some overhead expenses for both parties.
No Director was considered to have a material interest in the SMNC Framework Agreement on the date of the Board meeting authorising the SMNC Framework Agreement which would have required the Director to abstain from voting at the relevant Board meeting.
The SMNC Framework Agreement CCT is in substance a continuation of the transactions carried out under the 2017 Framework Agreement.
Accordingly, the SMNC Framework Agreement are subject to the reporting, announcement and Independent Shareholders’ approval requirements of Chapter 14A of the Listing Rules.
SMNC entered into a contract of agreement with Quality Asphalt Pavement (QAP) on June 6, 2007 for gravel sales.
The total rental payable by SMNC to Sino IC Leasing (Tianjin) during the term of the Lease Agreements is approximately US$59,583,000.
If SMNC fails to pay any amount due to Sino IC Leasing (Tianjin) pursuant to the relevant Lease Agreement in a timely manner, SMIC Beijing will, within 7 business days after it receives a payment request from the Sino IC Leasing (Tianjin), pay the relevant amount due in the manner requested by Sino IC Leasing (Tianjin).