This research aims to explore the complex interactions that surround Supply Chain Risk Complexity (SCRC) and its effects on both financial and Environmental, Social, and Governance (ESG) performance in the chip industry. It seeks to demonstrate how SCRC, influenced by supply chain concentration, impacts firm performance metrics. Drawing on resource dependence theory and the resource-based view, this study constructs a panel of 364 Chinese listed semiconductor firms for 2013 - 2022 and creates a novel SCRC index using natural language processing. Ordinary least squares, fixed effects, and an event-study specification centered on the 2018 export control shock confirm that the patterns persist after controlling for unobserved heterogeneity and time effects. The analysis reveals a complex relationship wherein increased supply chain concentration heightens SCRC, which in turn has a dual impact: enhancing financial performance while negatively affecting ESG outcomes. Furthermore, SCRC serves as a significant mediator between supply chain concentration and performance metrics, showcasing the important role of risk disclosure in strategic supply chain configurations. The findings provide semiconductor executives with a clear framework: minimize dependence on any single partner, institutionalize comprehensive risk disclosure practices, implement predictive digital tools, and preserve ESG resources to achieve efficiencies driven by concentration without compromising sustainability credentials.