The U.S-China trade war is increasingly influencing tech. Huawei has suffered a turbulent past week with key suppliers pausing work with the company, and now China’s largest chipmaker is planning to delist from the New York Stock Exchange.

Semiconductor Manufacturing International Corp (SMIC) announced in a filing published Friday that it plans to delist next month ending a 15-year spell as a public company in the U.S. The firm will file a Form 25 to delist on June 3, which is likely to see it leave the NYSE around ten days later. SMIC, which is backed by the Chinese government and state-owned shareholders, will focus on its existing Hong Kong listing going forward but there will be trading options for those holding U.S-based ADRs.

In its announcement, SMIC said it plans to delist for reasons that include limited trading volumes and “significant administrative burden and costs” around the listing and compliance with reporting.

What it doesn’t say is that this is linked to the frosty relationship between the U.S. and China, and already the company has played that rationale.

“SMIC has been considering this migration for a long time and it has nothing to do with the trade war and Huawei incident. The migration requires a long preparation and timing has coincided with the current trade rhetoric, which may lead to misconceptions,” a spokesperson told CNBC.

Still, it is impossible to ignore the current context. Huawei’s entry to a U.S. blacklist has paused its relationship with key suppliers including ARM, Qualcomm, Intel and Google, which supplies the Android OS for its phones, so SMIC’s decision to remove its financial links to the U.S. fees into fears of a bifurcation of U.S. and Chinese tech, deliberate or not.

SMIC’s shares dropped 4 percent in Hong Kong on Friday. Trading of its U.S-based ADRs crossed one million on Friday, that’s well above an above 90-day volume of nearly 150,000 per day.

The company is China’s largest chip firm, specializing in integrated circuit manufacturing with clients such as Qualcomm, Broadcom and Texas Instruments. SMIC made a profit of $746.7 million in 2018 on revenues of $3.36 billion. Its most recent Q1 results released earlier this month saw revenue fall 19 percent year-on-year.

There has always been tension around Chinese companies using U.S. public markets to go public, and not just from an American standpoint. Chinese companies are increasingly exploring other options, including Hong Kong — where Xiaomi went public last year — while a-soon-to-launch ‘science and tech’ board in Shanghai is hotly touted as an alternative destination.

The board launches in pilot mode next month, but already Chinese bankers and tech companies have found it challenging to deliver on expectations, as a Reuters report earlier this year concluded.