<p>➀ STMicroelectronics, a European semiconductor giant, announces a collaboration with China's second-largest wafer foundry, Hua Hong Group, to manufacture 40nm microcontrollers (MCUs) in China to support its long-term revenue goals.</p><p>➁ STMicroelectronics expects to save millions of dollars by implementing manufacturing restructuring and cost basis adjustment plans, aiming for revenue of about $18 billion and an operating profit margin of 22% to 24% between 2027-2028.</p><p>➂ The company's CEO, Jean-Marc Chery, emphasizes the importance of local manufacturing in China, highlighting cost benefits, compatibility issues, and the risk of government restrictions. He also mentions the rapid development cycle of electric vehicles in China as a missed opportunity for any other production location.</p>