首尔10月23日电——SK海力士周五暂停了旗下芯片子公司Solidigm原本计划的美国上市，原因是市场波动，此举也正值韩国当局对该交易可能损害股东利益表示关切之际。
SEOUL, Oct 23 - SK Hynix on Friday put on hold a planned US listing for its Solidigm chip unit due to market volatility — a move which also comes after South Korean authorities raised concerns that the deal could undermine shareholder interests.
此前，SK海力士一直在考虑将Solidigm上市，以帮助资助在美国建设新工厂，并满足人工智能数据中心对芯片激增的需求。
A listing of Solidigm, a former Intel business that specialises in NAND flash memory and solid-state drives, had been under consideration to help fund a new US factory and meet surging demand for chips in AI data centres.
SK海力士在声明中表示，此举本还可以为注销股份和股票回购提供资金。
It could also have funded share cancellations and buybacks, SK Hynix said in a statement.
知情人士此前透露，这项现已暂停的IPO计划原本可能筹集150亿美元，并使该部门的估值达到1500亿美元。
People familiar with the now-suspended IPO plans had said that the share sale could have raised $15 billion and valued the unit at $150 billion.
这家韩国芯片巨头于今年7月在纳斯达克挂牌实现双重上市。该公司表示，计划继续探索为Solidigm的扩张融资及提升股东价值的途径，包括评估未来投资的时机、规模和融资方案。
The South Korean chip giant, which became dual-listed with a debut on the Nasdaq in July, said it plans to continue to explore ways to fund Solidigm's expansion and enhance shareholder value, including reviewing the timing, scale and financing of future investments.
该公司表示：“这一决定并不反映Solidigm增长前景或投资需求的任何改变。”
"This decision does not reflect any change in Solidigm's growth prospects or investment needs," it said.
随着Solidigm进行IPO可能会摊薄SK海力士股东利益的担忧有所消退，SK海力士股价收盘上涨4.4%，跑赢表现平平的大盘。
Shares in SK Hynix finished 4.4% higher, outperforming a flat broader market as worries that a Solidigm IPO could dilute SK Hynix shareholders' interests abated.
韩国芯片制造商面临赴美投资压力目前尚不清楚特朗普政府将如何看待这一决定。特朗普政府一直向外国芯片制造商施压，要求其在美国建造新设施，并一直在与SK海力士进行讨论。
SOUTH KOREAN CHIPMAKERS UNDER PRESSURE TO INVEST IN US It was not immediately clear how the decision would be received by the Trump administration, which has put pressure on foreign chipmakers to build new facilities in the US and which has been holding discussions with SK Hynix.
据知情人士透露，SK海力士曾试图将美国潜在工厂的前景作为谈判筹码，将其与希望获得的华盛顿批准挂钩，以便允许美国芯片制造设备出口到中国，从而提高其在中国产能。
According to people familiar with the matter, SK Hynix has sought to use the prospect of a potential factory in the US as a bargaining chip, linking it to hoped-for approval from Washington that would allow US chipmaking equipment to be exported to China to increase its production there.
韩国当局表示，作为更广泛双边会谈的一部分，他们正在与华盛顿讨论对美国的半导体投资，但这并不属于韩国去年为换取美国降低关税而向美国作出的3500亿美元投资承诺谈判的一部分。
South Korean authorities have said they are discussing semiconductor investments in the US with Washington as part of broader bilateral talks, but they are not part of negotiations about a $350-billion investment commitment South Korea made to the US last year in exchange for lower US tariffs.
另一方面，SK海力士决定按下Solidigm IPO的暂停键，反映出由于投资者担忧借贷成本上升对负债累累的人工智能板块的影响，市场对人工智能板块股票的情绪出现急剧回落。
e hand, SK Hynix's decision to hit the pause button on the Solidigm IPO reflects a sharp pullback in sentiment towards AI-sector stocks as investors fret over the implications of rising borrowing costs for the debt-heavy sector.
其他被搁置的交易包括获得英伟达支持的澳大利亚Firmus公司的IPO，以及黑石支持的AirTrunk在新加坡的REIT（房地产投资信托）上市计划。与此同时，韩国对海外上市的关切不断增加。
Other deals that have been shelved include the IPO of Australia's Firmus, which is backed by Nvidia and a Singapore REIT listing for Blackstone-backed AirTrunk. At the same time, South Korean concerns about overseas listings have mounted.
金融监督院院长李灿镇本周在一次议会听证会上表示，监管机构正在审查Solidigm潜在的美国IPO是否需要根据该国的双重上市限制进行审查，这些限制已于7月收紧以加强股东保护。独立机构韩国企业治理论坛对SK海力士的决定表示欢迎。
Financial Supervisory Service Governor Lee Chan-jin told a parliamentary hearing this week that regulators were examining whether Solidigm's potential US IPO would require a review under the country's dual-listing restrictions, which were tightened in July to strengthen shareholder protections. The Korea Corporate Governance Forum, an independent body, welcomed SK Hynix's decision.
该论坛表示，尽管Solidigm需要数万亿韩元的资本支出，但凭借人工智能热潮获得巨额盈利的SK海力士，可以通过其人工智能公司实体注入资本，而不必让Solidigm在美国上市。
Instead of a US listing for Solidigm, SK Hynix, which has made massive earnings gains on the AI boom, could inject capital through its AI Company entity, even if Solidigm requires tens of trillions of won in capital expenditure, it said.
该论坛援引韩国券商的平均估算称，预计到2027年底，SK海力士的现金持有量将达到456万亿韩元（约合3440亿美元）。
Citing average estimates from South Korean brokerages, it said SK Hynix’s cash holdings were projected to reach 456 trillion won ($344 billion) by the end of 2027.
关于海外子公司上市的争论也已超出了芯片行业的范畴。韩国汽车零部件制造商明新产业本周表示，鉴于需要审查股东保护措施，其董事会已决定反对子公司拟议的美国上市计划。消息公布后，其股价飙升了18%。
The debate over listings of overseas units has also extended beyond the chip sector. South Korean auto parts maker Myoung Shin Industrial said this week that its board had decided to oppose a proposed US listing of a subsidiary, citing the need to review shareholder protection measures. Its shares jumped 18% following the announcement.
基伟证券分析师申允哲表示，其他韩国公司的类似计划可能会面临更严格的审查。
Similar plans by other South Korean companies could face greater scrutiny, said Shin Yoon-chul, an analyst at Kiwoom Securities.