This week's IC News Flash brings several significant developments in the semiconductor industry: Xinqiyuan, a domestic DPU chip company, has seen its Nanjing subsidiary halt salary payments and undertake drastic layoffs, leaving the office premises virtually abandoned. Meanwhile, the US chip giant Wolfspeed has filed for bankruptcy and reorganization, aiming to reduce its debt by 70%. Intel has announced large-scale layoffs and the closure of its automotive business. Lastly, Honor has embarked on preparations for an A-share IPO, with support from CITIC Securities and other institutions.