Owner of China's Only 3D NAND Maker Faces Bankruptcy

Owner of China’s Only 3D NAND Maker Faces Bankruptcy

Tsinghua Unigroup, a Chinese high-tech conglomerate, on Friday confirmed that it had received a notification from a Beijing court informing it that one of its creditors demanded insolvency protection of the indebted company. As of mid-2020, Tsinghua Unigroup owed approximately $31 billion and had $8 billion in cash and cash equivalents, according to Reuters. Tsinghua Unigroup…