Understanding the Market | A-shares and H-shares rise together, SMIC rises by over 5% again, Blackwell GB200 is expected to have a large-scale shipment in the fourth quarter

SMIC A-shares surged during the trading session, breaking through the 100 yuan mark, with a morning rise of over 12%. Influenced by this news, SMIC rose another 5%, reaching a 5.79% increase at the time of publication, trading at 32 Hong Kong dollars with a turnover of 8.71 billion Hong Kong dollars. On the news front, according to the latest report released by Guo Mingxi, an analyst at TF International Securities, the Blackwell GB200 chip is expected to begin mass shipments in the fourth quarter of 2024. Guo Mingxi stated that shipments in the fourth quarter are expected to range from 150,000 to 200,000 units and are projected to increase significantly by 200% to 250% in the first quarter of 2025, reaching 500,000 to 550,000 units. It is worth mentioning that recently, SMIC or E Fund Kechuang 50ETF disclosed a stake. The announcement stated that SMIC is a constituent stock of the Kechuang 50 Index, and the fund's holding of the company's stock or changes in shareholding are based on the fund's investment strategy. CITIC Securities believes that looking ahead to 2025, domestic memory manufacturers and local wafer fabs are still accelerating expansion, while anticipating the high-end drive of advanced chip demand. The domestic semiconductor equipment market is expected to further improve, and equipment company orders are also expected to continue to grow in sync