Qingyun came under pressure after being linked to an investigation into the alleged smuggling of Nvidia GB300 high-end AI server chips to China. Its stock fell from NT$524 to NT$382.5 in three trading sessions, a drop of about 27%. The company then announced that general manager Lu Yang-kai had stepped down and would be replaced by chairman special assistant Chiu Chen-chen. After three straight limit-down sessions, the stock moved to limit-up.
Second round of searches reached Qingyun and other firms
The case is being handled by the Keelung District Prosecutors Office. According to the source material, prosecutors launched a second round of searches on June 29, targeting Supermicro distributor Qingyun, data center operator Chief Telecom, and Supermicro’s Taiwan branch. Reports cited in the material said the products involved were high-end AI servers equipped with Nvidia GB300 chips, allegedly moved to China, Hong Kong, and Macau through falsified procedures.
The investigation news hit the stock immediately. Qingyun’s shares sold off over several sessions and the company was placed on the OTC market watch list. Market concern centered on whether the alleged exports could affect the company’s operations. Selling was heavy, and management changes followed quickly.
Company says it was personal conduct and operations remain normal
On the evening of July 2, Qingyun said Lu Yang-kai had left the general manager post and described the matter as his personal conduct. The company added that he was no longer employed there, and that Chiu Chen-chen had taken over the role with immediate effect. Qingyun also said operations were continuing as usual, with no material impact on finances or business, and that it would fully cooperate with judicial authorities.
On the point drawing the most attention, the company again denied involvement in any server chip trading. The message was plain: isolate individual responsibility and calm concerns over day-to-day business.
Supermicro says 4 Taiwan employees were questioned, 2 detained
Supermicro, which was also named in the case, issued its own response. Chief Revenue Officer Matt Thauberger said the company was not the primary target of prosecutors and had been providing relevant information to Taiwan authorities over the past few months. He also said the company’s Taiwan office had not been searched. The people questioned were 4 Taiwan employees, with 2 detained and 2 released on bail. Supermicro said all four were placed on administrative suspension pending the outcome of the investigation.
Thauberger added that the company has “zero tolerance” for conduct that breaks the law or violates internal rules, and said the case would not affect product supply or services. That statement addressed customers, but the investigation is still open.
Prosecutors seized 50 servers as the investigation continues
Investigators initially believe the method involved falsifying KYC (Know Your Customer) verification documents required under US Commerce Department rules, then misreporting the final destination or model to evade US export controls on servers equipped with advanced Nvidia chips. On May 20, the Keelung District Prosecutors Office seized 50 AI servers carrying Nvidia GB300 chips, with an estimated value of about NT$700 million, along with more than NT$9 million in cash. Those servers are described in the material as key physical evidence in the suspected flow of goods to China.
The probe is ongoing, and Lu Yang-kai’s legal responsibility has not been determined. For now, there is no final answer on whether the case ends with individual conduct or points to a broader gap in export-control enforcement.