Shanghai-listed Will Semiconductor Co. fell 5.7%, while Hubei Tech Semiconductors Co. was down 3.3%. For investors, the warning presents another challenge in an increasingly uncertain regulatory landscape, coming soon after the launch of a probe this month into possible chip price manipulation -- chilling a sector buoyed by a global semiconductor shortage that's approaching the 12-month mark. Read more: China's Summer of Stock Market Turbulence: A Timeline SMIC has also rallied this year on bets that semiconductor firms will benefit from state largesse, even as Beijing pursues a broader crackdown in the tech sector that's ensnared the likes of Alibaba Group Holding Ltd. and Tencent Holdings Ltd.