The South China Morning Post reports, citing Caixin, that HSMC employees received an offer to quit their jobs through the WeChat app. The message contained information that HSMC had no plans to reopen and release products. The initiators of the layoffs did not mention any other explanations, and the employees were not offered any material compensation. As a result, about 240 people are expected to lose their jobs.

When the local authorities acted as one of HSMC's investors in November 2017, they expected to offer jobs to 50 thousand employees over time, and annually produce products worth up to $9.25 billion. A couple of years later, the plant construction project faced financial and legal problems - site the land on which the construction was carried out was arrested by a court decision. The reason was the delay in financing, which led to the bankruptcy of the main contractor.

In 2019, HSMC managed to attract Chiang Shang-yi to the post of CEO, who managed to work not only in SMIC, but also as vice president of the Taiwanese company TSMC. By the summer of 2020, he left HSMC, officially citing personal motives, but privately citing the dire state of affairs at the company. HSMC even has one ASML lithographic scanner at its disposal, which allows it to work with 7-nm lithography, but it will most likely be sold to some of its competitors to cover the resulting debts.