SMIC 0981

[winston]

not vested

G Sachs Finds SMIC (00981.HK) 2Q Revenue Guidance Slightly Beats, Rates Neutral

2023/05/12

Goldman Sachs said in a report that SMIC (00981.HK)'s revenue guidance for the second quarter is 5-7% QoQ growth, slightly better than broker and market expectations of 4% QoQ and flat QoQ respectively.

The chipmaker maintained its full-year revenue guidance of a low-teens YoY decline and gross margin guidance of about 20%.

Goldman noted that during today's results conference call at SMIC, major concerns included key drivers of the second quarter revenue recovery, outlook for the second half of the year, updates on this year's capital expenditures and capacity plans, and pricing trends amidst overall market weakness.

Goldman gave SMIC a Neutral rating and increased its target price from $18.9 to $21.4.

Source: AAStocks Financial News

http://www.aastocks.com/en/stocks/analy ... 266137/all

[winston]

not vested

Semiconductor Manufacturing International Corp (SMIC) quarterly revenue fell for the third straight quarter, reflecting the impact of a global smartphone slump and Washington’s broadening campaign to curb China’s technology sector.

The Shanghai company reported a 15-per cent fall in revenue to US$1.62 billion, versus an average projection for US$1.64 billion.

Net income fell 80 per cent to US$94 million, compared with estimates for US$178.1 million.

The numbers missed despite hopes that the surprise popularity of a new range of Huawei Technologies 5G smartphones would help offset lost sales.

Source: Phillips