SG#SMIC RP2812T

THELLOY DEV

LOTUS HORIZON

MIRICOR

NIU HOLDINGS

DAISHOMICROLINE

MODERN CHI MED

CHINA TIANRUI

MSCTECH

NORTH MINING

SEVEN ELEMENTS

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The Hang Seng Index opened up 0.4%, at 25,938.43 points; the Hang Seng Tech Index rose 0.5%. Tencent Music and Nio rose over 2%, Li Auto rose nearly 2%, and HUA HONG SEMI and SMIC rose over 1%

Wallstreetcn

TME-SW

LI AUTO-W

SMIC

HUA HONG SEMI

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688981

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Hua Hong Semiconductor announced that it has developed 7-nanometer manufacturing technology for the production of AI chips, becoming the second chip manufacturer in China to possess this technology. Following the announcement, Hua Hong's stock price rose nearly 6%, reaching a high of 39 yuan. Hua Hong plans to produce thousands of 7-nanometer chips monthly by the end of the year and increase production capacity. Related chip stocks such as BIREN TECH, INNOSCIENCE, GIGADEVICE, and SMIC also saw increases

AASTOCKS

GTJA Allianz CSI All Share Semiconductors & Semiconductor Equipment ETF

INNOSCIENCE

GIGADEVICE

BIREN TECH

Hua Hong

Guotai CSI All Share Integrated Circuit ETF

ChinaAMC Guozheng Semiconductor Chip ETF

Guotai CES Semiconductor Chip Industry ETF

According to reports, preparing to produce 7-nanometer chips, Hua Hong Semiconductor surged nearly 6%

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Hong Kong stock chip stocks continued to rise in the afternoon, with GIGADEVICE and HUA HONG SEMI up over 10%, MONTAGE TECH up over 7%, and SMIC and SOLOMON SYSTECH following suit

SOLOMON SYSTECH

Montage Technology

MONTAGE TECH

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The southbound capital flow of the Hong Kong Stock Connect shows that the TRACKER FUND had a net inflow of HKD 4.701 billion, while CNOOC and SMIC had net inflows of HKD 1.238 billion and HKD 317 million, respectively. Tencent and Alibaba had net outflows of HKD 480 million and HKD 429 million, respectively. Overall, the southbound capital outflow was HKD 0, with a total transaction amount of HKD 113.467 billion, accounting for 46.85% of the market transaction amount

COSL

CNOOC

CHINA OILFIELD

TRACKER FUND

Net inflow of HKD 4.701 billion for the Tracker Fund through Hong Kong Stock Connect

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On March 12th, the Hong Kong stock market closed with all three major indices collectively retreating into a consolidation phase, with the Hang Seng Index down 0.70%. The system software sector was dragged down by significant declines in Zhipu and Dipu Technology, showing weak performance. Market turnover remained high, with Tencent, Alibaba, and CNOOC leading in trading volume. Baidu's release of the "Red Hand Operator" has attracted market attention

- On March 12, Hong Kong's stock market experienced a collective pullback with cautious sentiment prevailing.  
- The Hang Seng Index closed at 25,716.76, down 0.70%, while the Hang Seng Tech Index fell 0.54%, both failing to reach new highs.  
- Overall, the market's adjustments are limited, with structural opportunities still present despite a defensive approach in the absence of new growth points.

Market Heartbeat

TENCENT

MEITUAN

BIDU-SW

LAOPU GOLD

BANK OF CHINA

Hong Kong Stock Market Closing | Hang Seng Index fell 0.70%, system software plummeted, Tencent and Alibaba had the highest trading volumes

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Morgan Stanley released a report stating that China has made progress in alleviating equipment and wafer foundry bottlenecks over the past year, and it is expected to meet core sovereign demands around 2028. Policy support will accelerate early development, but long-term value depends on commercial competitiveness. Chinese AI GPU suppliers need to demonstrate economic benefits to sustain growth. The report predicts that by 2030, the market size of China's AI chip market will reach $67 billion, with a self-sufficiency rate of 76%. The report is optimistic about companies such as SMIC, NAURA, and ASMPT

ChinaAMC CSI Semiconductor Material & Equipment Thematic ETF

ChinaAMC SSE STAR Semiconductor Material & Equipment Thematic ETF

China Merchants CSI Semiconductor Industry ETF

Guotai CSI Semiconductor Material Equipment Theme ETF

Harvest SSE STAR Chip ETF

Harvest CSI All Share Integrated Circuit ETF

E Fund CSI Semiconductor Material & Equipment Thematic ETF

NAURA

ASMPT

GF Fund CSI Semiconductor Material Equipment Theme ETF

Morgan Stanley: China's wafer foundry capacity and chip supply will meet core sovereign demand around 2028

GuoSen analyst maintained a Buy rating on Semiconductor Manufacturing International on March 6 and set a price target of HK$81.19.Claim 70% Off TipRanks PremiumUnlock hedge fund-level data and powerful investing tools for smarter, sharper decisions Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential The word on The Street in general, suggests a Strong Buy analyst consensus rating for Semiconductor Manufacturing International with a HK$86.02 average price target.

- GuoSen analyst maintained a Buy rating on Semiconductor Manufacturing International with a price target of HK$81.19.  
- The analyst consensus rating for the company is a Strong Buy, with an average price target of HK$86.02.  
- This information suggests positive sentiment toward Semiconductor Manufacturing International in the market.

Tip Ranks

Semiconductor Manufacturing International (0981): New Buy Recommendation for This Technology Giant

Goldman Sachs released a report stating that the management of SMIC is optimistic about China's semiconductor capital expenditure, believing that the migration of non-foundry technology will drive the development of this cycle. It is expected that advanced logic and memory will become the main drivers of capital expenditure growth, with the supply chain increasing investment to narrow the gap with overseas companies. Goldman Sachs maintains a positive outlook on SMIC, with a target price of 134 yuan and a rating of "Buy."

Goldman Sachs: SMIC management is optimistic about China's semiconductor capital expenditure

BIDU

09988

BABX

09868

STECH

XPEV

XPeng fell nearly 3%, while Alibaba, SMIC, Baidu Group, and others fell over 2%. Risk warning and disclaimer: The market has risks, and investment should be cautious. This article does not constitute personal investment advice and does not take into account the specific investment goals, financial situation, or needs of individual users. Users should consider whether any opinions, views, or conclusions in this article are suitable for their specific circumstances. Investing based on this is at one's own risk

Baidu

BABA-W

BABA 2x Long Daily ETF - GraniteShares

XPENG-W

Hang Seng TECH Index

XPeng

The Hang Seng Index opened down 1.16%, and the Hang Seng TECH Index fell 1.24%

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The three major A-share indices fell in the first half of the day, with the Shanghai Composite Index down 0.2%, the Shenzhen Component Index down 0.7%, and the ChiNext Index down 1.5%. Domestic property stocks generally weakened, with leading stock Vanke down 0.4%. SMIC and Hua Hong fell by 1.4% and 2.5%, respectively. To support enterprises in managing exchange rate risks, the People's Bank of China has lowered the foreign exchange risk reserve ratio for forward foreign exchange sales to zero, causing the offshore RMB to quickly depreciate against the US dollar. There are no reverse repos maturing today, with a net injection of 269 billion yuan for the day

Vanke

CHINA VANKE

Hwabao WP CSI 800 Real Estate ETF

China Southern CSI All Share Real Estate ETF

ChinaAMC CSI All Share Real Estate ETF

Yinhua CSI Interior Real Estate Theme ETF

The three major A-share indices of Shanghai and Shenzhen fell in the first half of the day, with the ChiNext dropping 1.5%. Domestic property stocks weakened, and SMIC and Hua Hong showed a bearish trend

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The three major A-share indices opened lower, with the Shanghai Composite Index down 0.4%, the Shenzhen Component Index down 0.9%, and the ChiNext Index down 1.2%. Lithium mining stocks and chip stocks generally retreated, with Ganfeng Lithium and TIANQI LITHIUM opening down 2% and 2.1%, respectively. SMIC and Hua Hong opened down 1.4% and 1.8%. AI chip stock Cambricon opened down 2%. The central parity rate of the RMB against the USD remained unchanged, and the People's Bank of China lowered the foreign exchange risk reserve ratio to zero

TIANQI LITHIUM

Cambricon

GANFENGLITHIUM

Ganfeng Lithium

The three major A-share indices of Shanghai and Shenzhen opened lower by 0.4% to 1.2%, with lithium and chip-related stocks retreating

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Today, the three major indices of A-shares opened with mixed performances. The Shanghai Composite Index rose slightly by 0.09%, the Shenzhen Component Index increased by 0.1%, while the ChiNext Index opened lower by 0.2%. The central parity rate of the RMB against the US dollar was adjusted to 6.9228. Lithium mining stocks rose due to Zimbabwe's suspension of lithium exports, with Ganfeng Lithium and Tianqi Lithium opening up by 4.4% and 5.9%, respectively. CATL opened lower by 1.7%. SMIC opened flat and plans to acquire a 49% stake in SMIC North

CATL

Penghua Guozheng Non-ferrous Metal Industry ETF

ChinaAMC CSI Subdivision Non-ferrous Metal Sub-Industry ETF

GF CSI Rare Metals Theme ETF

Guotai CSI Non-ferrous Metal ETF

China Southern CSI SWS Non-Ferrous Metal ETF

Yinhua CSI Non-ferrous Metal ETF

Hwabao WP CSI Non-ferrous Metal ETF

Guotai CSI Non-Ferrous Metal Kuangye Theme ETF

The three major A-share indices of Shanghai and Shenzhen opened mixed, lithium mining stocks rose, while CATL was slightly weak

The US has proposed a rule to restrict government agencies from buying products and services that use semiconductors from China foundry SMIC or China memory chip makers ChangXin Memory (CXMT) or Yangtze Memory (YMTC), media report, noting the proposed rule is open for public comment until April 20, 2026. $SMICY #CXMT #YMTC $Micron Tech(MU.US) #SKhynix #Samsung #semiconductorsSource: Dan Nystedt

Micron Tech

SMIC HK SDR 5to1

Conference Minutes

Below is Dolphin Research's curated Trans of SMIC's Q4 2025 earnings call. For our analysis, see 'SMIC: Doubling Down Against the Cycle — Are domestic AI chips the 'hope of the whole village'?' 1) 2026 outlook: Full-year revenue growth is set to outpace the peer avg. CAPEX in 2026 is expected to be roughly flat vs. 2025 ($8.1bn), while depreciation will rise materially, up approx. 30%.2) Industry backdrop: The market is showing clear bifurcation. On one hand...

VanEck HIP Sustainable Muni ETF

GlobalFoundries

Intel

INTEL-T

United Microelectronics

SMIC (Trans): Street Too Bearish on Smartphones; Memory Shortage to Ease in Q3

SMIC 4Q25- revenue up 4% q/q and 13% y/y to $2.489B; 9thstraight quarter of y/y growth; 19.2% GM due depreciation load; 96% utilization rate; QMar revenue to be flat- 1.1M wafer shipments at $2.4k ASP- $8.1B capex in ’25 vs $7.3B in ’24- 2026 capex to remain same; SMIC forecasts its ’26 rev to outgrow the segments it participatesSource: Sravan Kundojjala

Financial Analysis

SMIC (0981.HK/688981.SH) released its Q4 2025 results (quarter ended Dec 2025) after the HK close on Feb 10, 2026 (Beijing time). Key takeaways: 1) Headline results: revenue of $2.49bn, in line with consensus ($2.42bn), up 4.5% QoQ and above guidance (0–2% QoQ). QoQ revenue growth was driven mainly by restocking demand in consumer electronics ...

SMIC: Doubling Down in a Downcycle — The Last Hope for Homegrown AI Chips?

Wow! You have an extraordinary 90% rate!

The market is very choppy, more options will be good as implied volatility is high!

Featured

This week's market faces a triple test: critical US economic data meets major tech earnings. How are you adjusting your portfolio for the volatility? Comment your top pick for the week and earn Task Coins!

🔥 IPO Pops, AI Hype, Data Storm: Monday Market Checklist | Feb 9, 2026

Amazon

Direxion Daily AMZN Bull 2X Shares

Coinbase

Coreweave

Tesla

Alphabet - C

Alphabet

Meta Platforms

SPDR Gold Shares

iShares Silver Tr

Pro Ultr Silver

GLD SG

SMIC 4Q25 First Take: headline was mixed — revenue met expectations, but GPM underwhelmed. On the margin bridge, ASP rose by $37/wafer QoQ while unit cost increased by $56/wafer, driving GPM compression. While the company has pushed advanced nodes to a 7nm‑equivalent, lower yield continues to weigh on margins. Guidance matters more than the print, and the outlook remains muted. Management guides flat QoQ revenue vs. the Street at +3%, and GPM at 18–20% vs. the Street at 21%, implying continued margin pressure. Despite AI semis staying hot, results remain soft, largely due to a sluggish traditional semi market. Management is still cautious on the legacy demand recovery. Given SMIC’s unique positioning, valuation is not fully tethered to near‑term fundamentals. The company sits in the foundry industry’s second tier but is working to close the gap with TSMC, which keeps optionality and expectations alive. For more, follow Dolphin Research for subsequent commentary and Trans. $SMIC(00981.HK) $SMIC(688981.SH)

Taiwan Semiconductor

This week is much stronger overall than last week, but don't blindly chase highs.

股市江湖故事会

As much as I want to be bullish and hope stocks keep going up, I feel that the topping process is going on and a pullback is imminent. Stay safe!

Is betting on a Moon city smarter than funding the AI arms race? Explore key moves from Google, SpaceX, and Tesla, plus a major pharma lawsuit. Comment your view to earn task coins!

Hims & Hers Health

Direxion Daily Googl Bear 1x Shares

Direxion Daily GOOGL Bull 2X Shares

Coca Cola

AXERA

RIDGE OUTDOOR

Microsoft

Novo Nordisk AS

LEAD

Siren Divcon Leaders Dividend ETF

🔥 Market Buzz: The AI Spending Race & Musk's Moon Shot | Tue, Feb 10, 2026

I was amazed by the 100-year bond. I know this is not the first time since 1990s. Many people may not see the long-term risks, such as the business will remain relevant far into the future. While the risk may seem low, technological disruption or obsolescence over such a long horizon can never be ruled out.

Because the AI bubble is too big now, and the stock index has exceeded expectations.

All the AI companies are getting downgraded! Even for the big tech, this is a warning sign of what's to come!

Taking debt to fund the AI spending spree sounds alot like the dot com bubble!

SG#SMIC RP2812T(63571.HK)

The Hang Seng Index opened up 0.4%, at 25,938.43 points; the Hang Seng Tech Index rose 0.5%. Tencent Music and Nio rose over 2%, Li Auto rose nearly 2%, and HUA HONG SEMI and SMIC rose over 1%

According to reports, preparing to produce 7-nanometer chips, Hua Hong Semiconductor surged nearly 6%

Hong Kong stock chip stocks continued to rise in the afternoon, with GIGADEVICE and HUA HONG SEMI up over 10%, MONTAGE TECH up over 7%, and SMIC and SOLOMON SYSTECH following suit

Net inflow of HKD 4.701 billion for the Tracker Fund through Hong Kong Stock Connect

Hong Kong Stock Market Closing | Hang Seng Index fell 0.70%, system software plummeted, Tencent and Alibaba had the highest trading volumes