Illicit chip flows to Russia seen slowing, but China, Hong Kong remain transshipment hubs

Semiconductors and restricted goods shipped through China and Hong Kong fell by a fifth, according to U.S. Commerce data. Transshipments of CHPL items through Hong Kong dropped 28%. Shell companies such as Malachor Electronics divert semiconductors from Texas Instruments, Nvidia, Intel, and Vectrawave. C4ADS data and custom records reveal these activities, highlighted by Samuel Bickett.