COMPARE

CRITICAL — SMIC is itself sanctioned (BIS-EntityList, NDAA-1260H, NDAA-CMIC); direct suppliers sanctioned: NAURA Technology [BIS-EntityList], AMEC (Advanced Micro-Fabrication) [BIS-EntityList, NDAA-1260H], Piotech [BIS-EntityList], Kingsemi [BIS-EntityList], Zhongke Feice Technology [BIS-EntityList], Shanghai Micro Electronics (SMEE) [BIS-EntityList], SiCarrier [BIS-EntityList]. A sanctioned node in the immediate supply path is a binary procurement risk that overrides all favorable factors.

WATCH — Win Semiconductors: sole-source / single-point-of-failure dominance compounded by concentrated foreign-origin supply in pure play. A chokepoint underwriting concern at this tier.