Asia Tech Wire (May 22) -- Apple's Chinese supplier Goertek Inc. (002241.SZ) has announced that it has terminated the spin-off of its subsidiary Goertek Microelectronics Inc. (Goermicro) for listing.

The board of directors of Goertek agreed to terminate the spin-off of its subsidiary Goermicro for listing on the ChiNext board of the Shenzhen Stock Exchange and to withdraw the relevant documents, the company said in a statement on Wednesday.

The move is "based on the current market environment and other factors, in order to coordinate Goertek's microcapital operation planning," it said, adding that the termination will not have a material impact on the company.

Goertek promised not to plan any further major asset reorganization (including spin-off) within one month after the announcement of the termination of the spin-off.

Getting into Apple's supply chain since 2010, Goertek provides the iPhone maker with acoustic components, wired headphones and so on.