Don't you mean the Chinese government poured millions into this...

Don't you mean the Chinese government poured millions into this ?

EM received funding from them to build their labs initially and I can't help feeling the CCP government might have expected AKP to contribute something.
Instead AKP turned around and asked EM to contribute funding to themselves, in other words CCP money. This is never going to happen.

EM also received some seed funding facilitated by Sequoia Capital to help them build their labs and employ staff.
Sequoia has now pulled all business out of China. As have many other American vc firms - they will no longer send US$ into China to help Chinese businesses develop and manufacture chips (EU moving that way too).

I don't know how many other clients EM have, but I imagine they are going hard to promote themselves to local Chinese and SE Asian businesses and investors.

I also imagine the Chinese government, as well as some shareholders, may not be too happy with AKP at this point in time.