On August 13, SMIC rose 3.34% in regular trading, trading at 69.2 HKD/share, with turnover of 7.02 billion HKD.
On the news front, the company is set to release its Q2 earnings after market close today, with market consensus expecting revenue of USD 2.816 billion, representing a 29.18% year-over-year increase, and EBIT growth of 123.87% YoY. Additionally, UBS recently upgraded SMIC from Neutral to Buy, raising its target price significantly from 76 HKD to 96.2 HKD. The bank expects the company to benefit from rising localization demand, healthy capacity utilization, and increasing advanced process contributions, projecting a revenue CAGR of 23% over the next three years.
Northbound capital has also been accumulating positions, with a net inflow of 4.56 billion HKD on August 12, reflecting broadly positive market sentiment ahead of the earnings announcement.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)