vested
China Fortune Securities: SMIC Can Benefit from Leading Industry Intelligence/ High-speed Computing Demand
2024/12/30
Chinese broker China Fortune Securities issued a research report initiating rating at Buy to SMIC.
The Company, as a leader of the integrated circuit (IC) manufacturing industry in mainland China and one of the world's leading IC foundry, forecasted SMIC's 2024-2026 revenue to be RMB57.477 billion/ RMB65.570 billion/ RMB74.245 billion, and expected EPS for the same period to be RMB0.49/ RMB0.66/ RMB0.81, respectively.
The excellent pursuit of intelligence and high-speed computing performance of the leading industry continued to promote the rapid growth of the leading enterprises in the relevant application areas, which has become the main driving force for the increment in the overall market size of semiconductors, with the relevant industries experiencing explosive growth, China Fortune Securities added.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/analy ... stock-news
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SMIC 0981
Re: SMIC 0981
by winston » Fri Jan 03, 2025 8:22 am
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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winston - Billionaire Boss
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Re: SMIC 0981
by winston » Fri Jan 03, 2025 8:37 am
vested
<Research>G Sachs Lifts SMIC (00981.HK) TP to $33.4 as Rev./ Margin to Continue to Recover
2024/12/24
Goldman Sachs was optimistic about SMIC (00981.HK)'s revenue outlook, driven by healthier inventory level and localization trend, according to Goldman Sachs' research report.
Goldman Sachs remained bullish on SMIC as the foundry leader in China due to its customers' growing demand for localized production.
However, continuous capacity expansion, increasing supply of mature nodes output, intensifying competition and geopolitical risks remain valuation concerns and uncertainties.
End demand in the industrial and auto segments, is expected to weaken in 2H24 amid fierce competition, but the broker thought it should recover gradually as inventory digestion completes.
While Goldman Sachs was optimistic about SMIC's sales growth, ASP growth is likely to remain modest due to increasing supply of mature nodes output in China.
Overall, the broker estimated SMIC's gross profit margin to recover gradually, and lifted its target price on SMIC's H-shares from $29.2 to $33.4, with rating kept at Neutral.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/analy ... stock-news
<Research>G Sachs Lifts SMIC (00981.HK) TP to $33.4 as Rev./ Margin to Continue to Recover
2024/12/24
Goldman Sachs was optimistic about SMIC (00981.HK)'s revenue outlook, driven by healthier inventory level and localization trend, according to Goldman Sachs' research report.
Goldman Sachs remained bullish on SMIC as the foundry leader in China due to its customers' growing demand for localized production.
However, continuous capacity expansion, increasing supply of mature nodes output, intensifying competition and geopolitical risks remain valuation concerns and uncertainties.
End demand in the industrial and auto segments, is expected to weaken in 2H24 amid fierce competition, but the broker thought it should recover gradually as inventory digestion completes.
While Goldman Sachs was optimistic about SMIC's sales growth, ASP growth is likely to remain modest due to increasing supply of mature nodes output in China.
Overall, the broker estimated SMIC's gross profit margin to recover gradually, and lifted its target price on SMIC's H-shares from $29.2 to $33.4, with rating kept at Neutral.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/analy ... stock-news
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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winston - Billionaire Boss
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Malaysia 02 - Market News (Mar 24 - Dec 25)
by winston » Fri Jan 03, 2025 8:47 am
vested
<Research>Jefferies Lifts SMIC (00981.HK) TP to $27, Rates Hold
2024/11/11
As SMIC (00981.HK);s average selling price of products grew on better product mix and higher capacity utilization, its 3Q GM logged a QoQ growth of 6.5 ppts to beat expectations, Jefferies wrote in its research report.
Meanwhile, the company's revenue swelled to US$2.17 billion, largely in line with expectations.
During the period, SMIC's net profit soared 58% YoY to US$149 million, which was 25% and 17% lower than the market's and the broker's expectations.
The broker attributed this to the greater-than-expected impact of non-controlling interests.
Although a series of supportive policies introduced by China and the positive sentiment in the market towards further increasing the localization rate of wafer foundry production have driven SMIC's recent stock price rally, the broker reminded investors to pay attention to long-term equity returns as the risk of industry oversupply still exists.
The broker kept a Hold rating on SMIC, with a TP for its H-shares raised from $18 to $27.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/analy ... stock-news
<Research>Jefferies Lifts SMIC (00981.HK) TP to $27, Rates Hold
2024/11/11
As SMIC (00981.HK);s average selling price of products grew on better product mix and higher capacity utilization, its 3Q GM logged a QoQ growth of 6.5 ppts to beat expectations, Jefferies wrote in its research report.
Meanwhile, the company's revenue swelled to US$2.17 billion, largely in line with expectations.
During the period, SMIC's net profit soared 58% YoY to US$149 million, which was 25% and 17% lower than the market's and the broker's expectations.
The broker attributed this to the greater-than-expected impact of non-controlling interests.
Although a series of supportive policies introduced by China and the positive sentiment in the market towards further increasing the localization rate of wafer foundry production have driven SMIC's recent stock price rally, the broker reminded investors to pay attention to long-term equity returns as the risk of industry oversupply still exists.
The broker kept a Hold rating on SMIC, with a TP for its H-shares raised from $18 to $27.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/analy ... stock-news
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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Re: SMIC 0981
by winston » Tue Feb 11, 2025 9:14 pm
not vested
<Results>SMIC 4Q24 IFRS NP Reduces 38.4% YoY
SMIC (00981.HK) announced its results for the fourth quarter ended December 2024.
Revenue was US$2.207 billion, up 31.5% YoY and 1.7% QoQ, in accordance with International Financial Reporting Standards (IFRS).
Net profit was approx. US$108 million, down 38.4%/ 27.7% YoY/ QoQ each.
Gross margin was 22.6%, up 2.1 ppts QoQ.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/news/ ... -news/AAFN
<Results>SMIC 4Q24 IFRS NP Reduces 38.4% YoY
SMIC (00981.HK) announced its results for the fourth quarter ended December 2024.
Revenue was US$2.207 billion, up 31.5% YoY and 1.7% QoQ, in accordance with International Financial Reporting Standards (IFRS).
Net profit was approx. US$108 million, down 38.4%/ 27.7% YoY/ QoQ each.
Gross margin was 22.6%, up 2.1 ppts QoQ.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/news/ ... -news/AAFN
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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winston - Billionaire Boss
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Re: SMIC 0981
by winston » Wed Feb 12, 2025 7:23 am
not vested
SMIC profit plunges 45pc as trade tensions surge
Source: AP
https://www.thestandard.com.hk/section- ... ions-surge
SMIC profit plunges 45pc as trade tensions surge
Unaudited profit attributable to owners of the Company was US$492.7 million (HK$3.84 billion) in 2024," SMIC reported in a filing to the Hong Kong Stock Exchange.
The figure represented a decrease of 45.4 percent from US$902.5 million in 2023, according to the firm, which added that the fall was "mainly due to the decrease of investment income and financial income."
Profit in the final quarter of 2024 also slumped, the filing showed, dropping 38.4 percent year-on-year to US$107.6 million.
SMIC's fourth-quarter revenue, meanwhile, grew 31.5 percent to reach a total of US$2.2 billion, it added.
Unaudited revenue for the whole of last year reached US$8 billion, up from US$6.3 billion in 2023.
Source: AP
https://www.thestandard.com.hk/section- ... ions-surge
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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winston - Billionaire Boss
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Re: SMIC 0981
by winston » Fri Feb 14, 2025 2:07 pm
not vested
<Research>Citi Prefers SMIC to HUA HONG SEMI Due to Technological Edge
Both SMIC (00981.HK) and HUA HONG SEMI (01347.HK) have announced their 4Q24 results, with revenues growing by 32% and 18% YoY respectively as driven by a rebound in domestic demand, according to a Citi report.
Due to ongoing technology migration, SMIC's GPM saw a larger increase during the quarter, reaching 22.6% (compared to 20.5% in 3Q24 and 16.4% in 4Q23), while HUA HONG SEMI's GPM waned to 11.4% from 12.2% in 3Q24.
Related News: JPM Downgrades SMIC (00981.HK) to Underweight, Elevates TP to $32
Compared to HUA HONG SEMI, Citi was more upbeat about SMIC as it believed that SMIC held a technological advantage.
It rated SMIC as Neutral and lifted the target price from $30 to $47.
It also gave HUA HONG SEMI a Sell rating, with a target price elevated from $18 to $24.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/news/ ... -news/AAFN
<Research>Citi Prefers SMIC to HUA HONG SEMI Due to Technological Edge
Both SMIC (00981.HK) and HUA HONG SEMI (01347.HK) have announced their 4Q24 results, with revenues growing by 32% and 18% YoY respectively as driven by a rebound in domestic demand, according to a Citi report.
Due to ongoing technology migration, SMIC's GPM saw a larger increase during the quarter, reaching 22.6% (compared to 20.5% in 3Q24 and 16.4% in 4Q23), while HUA HONG SEMI's GPM waned to 11.4% from 12.2% in 3Q24.
Related News: JPM Downgrades SMIC (00981.HK) to Underweight, Elevates TP to $32
Compared to HUA HONG SEMI, Citi was more upbeat about SMIC as it believed that SMIC held a technological advantage.
It rated SMIC as Neutral and lifted the target price from $30 to $47.
It also gave HUA HONG SEMI a Sell rating, with a target price elevated from $18 to $24.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/news/ ... -news/AAFN
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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Re: SMIC 0981
by winston » Fri May 09, 2025 10:38 am
not vested
SMIC Expects Higher Depreciation Charges to Weigh on GPM in 2Q, Aims to Reduce Costs/ Enhance Efficiency
SMIC (00981.HK) announced its 2Q25 revenue guidance of a 4-6% QoQ decline, with gross profit margin to be in the range of 18-20%, compared with 22.5% in 1Q25.
Zhao expected higher equipment depreciation expense in 2Q25 to weigh on gross profit margin guidance.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/analy ... stock-news
SMIC Expects Higher Depreciation Charges to Weigh on GPM in 2Q, Aims to Reduce Costs/ Enhance Efficiency
SMIC (00981.HK) announced its 2Q25 revenue guidance of a 4-6% QoQ decline, with gross profit margin to be in the range of 18-20%, compared with 22.5% in 1Q25.
Zhao expected higher equipment depreciation expense in 2Q25 to weigh on gross profit margin guidance.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/analy ... stock-news
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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winston - Billionaire Boss
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Re: SMIC 0981
by winston » Fri May 09, 2025 10:42 am
not vested
SMIC Sinks 8% as QoQ Growth in 1Q25 Revenue Misses Guidance
SMIC (00981.HK) has been caving under pressure after its results announcement. It opened down 5.9% today (9th) and once sank to a bottom of $40.4 with a slump of 10.5%.
In accordance with the IFRS, SMIC's 1Q25 sales revenue reached US$2.247 billion, up 28.4% YoY or 1.8% QoQ, below a QoQ growth of 6-8% as predicted by its guidance.
Meanwhile, its net profit spiked by 161.9% YoY to US$188 million.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/analy ... stock-news
SMIC Sinks 8% as QoQ Growth in 1Q25 Revenue Misses Guidance
SMIC (00981.HK) has been caving under pressure after its results announcement. It opened down 5.9% today (9th) and once sank to a bottom of $40.4 with a slump of 10.5%.
In accordance with the IFRS, SMIC's 1Q25 sales revenue reached US$2.247 billion, up 28.4% YoY or 1.8% QoQ, below a QoQ growth of 6-8% as predicted by its guidance.
Meanwhile, its net profit spiked by 161.9% YoY to US$188 million.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/analy ... stock-news
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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winston - Billionaire Boss
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