Taiwanese Authorities Cracks Down on Eight Chinese Tech Firms for Allegedly Stealing Secrets, Talent

MT Newswires Live09-05

Authorities in Taiwan accused eight Chinese technology companies of stealing talent and trade secrets, the Taiwanese Ministry of Justice Investigation Bureau said in its release published Wednesday.

The eight companies included listed firms Naura Technology Group (SHE:002371), Shanghai New Vision Microelectronics (SHA:688593) and Tsinghua Tongfang (SHA:600100).

The other companies are iCommsemi, Nanjing Aviacomm Semiconductor, Emotibot, Hestia Power and Chengdu Analog Circuit Technology.

Some of the companies, like Tsinghua Tongfang, were state-owned enterprises.

Naura Technology said in a statement that its Taiwanese branch is operating "in accordance with local laws and regulations," according to a report on the South China Morning Post.

The bureau said it raided 30 locations and questioned 65 people. It will prosecute the companies, the media release added.

Tsinghua Tongfang's shares rose more than 1% in recent trade.

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