China’s state-backed lithography champion Shanghai Micro Electronics Equipment (SMEE) has reshuffled its business, divesting a manufacturing arm as it sharpens its focus on research in Beijing’s push for chip self-sufficiency. SMEE – widely seen as China’s best chance of closing the gap with Dutch lithography giant ASML – had transferred 100 per cent of its subsidiary Shanghai Weiyao Industrial to AMIES Technology, according to updates on corporate database Qichacha. The deal was priced at 228.5...