Nomura expects SMIC's revenue to grow in the mid to high double digits this year, maintaining a "Neutral" rating

AASTOCKS
2026.02.12 04:07

Nomura's research report indicates that SMIC (00981.HK) is expected to meet its fourth-quarter wafer revenue and gross margin targets for 2025. The company's guidance for first-quarter 2026 revenue is expected to remain flat quarter-on-quarter, with a gross margin between 18% and 20%, which also aligns with the firm's expectations. Management anticipates that the full-year revenue growth for 2026 will exceed the average level of comparable peers, and the firm believes the actual growth will reach the mid to high double digits.

The company expects the trend of domestic semiconductor localization in mainland China to continue, which will further support revenue growth in 2026, and it expressed its intention to capitalize on strong demand in Analog/BCD and memory sectors, both driven by AI. The firm maintains a "Neutral" rating and a target price of 75 yuan

Source: AASTOCKS The copyright of this article belongs to the original author/organization.
The views expressed herein are solely those of the author and do not reflect the stance of the platform. The content is intended for investment reference purposes only and shall not be considered as investment advice. Please contact us if you have any questions or suggestions regarding the content services provided by the platform.
© 2026 Longbridge｜Disclaimer