SMIC Boosts Stake as Capital in Key JV SMSC Rises to Over US$10 Billion

Semiconductor Manufacturing International Corporation (SMIC) has announced a capital increase in its Shanghai-based joint venture, SMSC, raising its registered capital from US$6.5 billion to US$10.0773 billion. This move will increase SMIC's stake from 38.515% to 41.561% and introduce new shareholders, enhancing SMIC's control over the semiconductor manufacturing platform. The capital injection supports capacity expansion in China's semiconductor sector and indicates ongoing policy-backed financial support, potentially improving SMIC's competitive position and growth prospects. The current analyst rating for SMIC stock is a Hold with a price target of HK$67.00.