REGARDING THE ACQUISITION OF CERTAIN ASSETS OF EMCORE CORPORATION BY HIEFO CORPORATION

This executive order, signed by President Donald J. Trump on January 2, 2026, mandates the forced divestment of HieFo Corporation’s acquisition of certain assets from EMCORE Corporation due to national security concerns.The following is a summary of the key points:1. Background and FindingsThe Parties: HieFo Corporation (a Delaware company controlled by a Chinese citizen) acquired the digital chip and wafer design/fabrication businesses of EMCORE Corporation (a New Jersey company) on April 30, 2024.The Threat: The President found "credible evidence" that HieFo’s ownership of these assets threatens to impair U.S. national security. He determined that existing laws (other than the Defense Production Act) were insufficient to address the risk.2. Mandatory ActionsProhibition & Divestment: The transaction is officially prohibited. HieFo must divest all interests and rights in the Emcore assets (including intellectual property, physical property, and contracts) within 180 days.Access Restrictions: Effective immediately, HieFo is prohibited from allowing non-HieFo personnel access to the assets or any non-public technical information unless approved by the Committee on Foreign Investment in the United States (CFIUS).Asset Preservation: HieFo is forbidden from transferring, dissolving, or reorganizing these assets in any way that would impede the divestment process.3. Oversight and EnforcementCFIUS Authority: CFIUS is granted broad power to oversee the divestment, including the right to audit HieFo, inspect facilities, and interview employees.Buyer Approval: HieFo cannot sell the assets to a third party without notifying CFIUS. CFIUS has 30 days to object to a buyer, focusing on whether the new owner is a U.S. citizen and if they have any compromising ties to HieFo.Compliance Reporting: HieFo must provide weekly certifications to CFIUS documenting their progress toward divestment.Intellectual Property: Upon divestment, HieFo must certify that all related intellectual property has been destroyed or transferred and is no longer in their possession.4. Legal ScopeThe Attorney General is authorized to enforce the order.Any attempt to circumvent or evade the order is strictly prohibited.The order includes a "severability" clause, meaning if one part is found legally invalid, the rest of the order remains in effect.