DS-SMIC@EC2610A

SEMICON China 2026 opens

Southbound Trading Records Net Inflow of HK$261 Million into SMIC

SMIC Ranks First in Short Selling Amount in Hong Kong's Semiconductor Sector

Report: Asian Semiconductor Capital Expenditure to Grow by 25% in 2026, Driven by AI and HBM Demand

Data Shows SMIC Received Net Inflow from Southbound Trading on March 4

Market Rumors Suggest SMIC and Other Wafer Fabs Have Halted Quartz Material Certification

SMIC's stock price has fallen for 4 consecutive days, with a cumulative decline of 8.54%

Multiple chip-focused ETFs opened lower, with heavyweight SMIC's stock declining at market open

Popular Hong Kong tech stocks generally opened lower

Huaxia Guozheng Semiconductor Chip ETF sees share increase of 91 million units in one day

Guotai SSE STAR Chip ETF Shares Increase by 3 Million, with SMIC as a Top Holding

Bosera SSE STAR Chip ETF Shares Increase by 4 Million, with SMIC as a Heavyweight Stock

US proposes to expand procurement ban on Chinese semiconductors, public comment period ends April 20, 2026

Multiple Chinese semiconductor companies issue price increase letters, signaling potential structural recovery

Southbound Trading records net selling of SMIC for 4 consecutive days

SMIC to Participate in the Shanghai International Semiconductor Equipment Exhibition 2026

SMIC Issues 764,300 Shares upon Exercise of Restricted Share Units

AI Reshapes Core Value, Electronics Industry Leads Spring Market Rally

Multiple A-share semiconductor companies collectively announce price hikes, with the highest increase reaching 80%

SMIC's stock price falls by over 4% as market funds shift to cyclical sectors

WANJIAGROUP RTS

NE ELECTRIC

TEAMWAY INTL GP

CIL GROUP

BOER POWER

LISI GP HOLD

SH GROUP HLDG

ZHONG JU INVEST

MEMESTRATEGY

BIDU

09988

BABX

09888

09868

STECH

00981

688981

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

Wallstreetcn

Baidu

BABA-W

BABA 2x Long Daily ETF - GraniteShares

BIDU-SW

XPENG-W

Hang Seng TECH Index

SMIC

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

AASTOCKS

Hua Hong

HUA HONG SEMI

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

Guotai CSI All Share Integrated Circuit ETF

GANFENGLITHIUM

ChinaAMC Guozheng Semiconductor Chip ETF

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

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China's leading chipmakers are ramping up production of advanced semiconductors to meet rising domestic AI demand, despite U.S. export restrictions. Companies like SMIC and Huawei-linked firms are focusing on 7-nanometer and 5-nanometer chip technology. The initiative aims to increase output from under 20,000 to 100,000 wafers in one to two years, with a long-term goal of 500,000 by 2030. However, U.S. restrictions on advanced chipmaking equipment pose challenges. The report highlights escalating U.S.-China tech tensions and concerns over Taiwan's semiconductor supply chain.

- China's leading chipmakers are increasing advanced semiconductor production to meet AI demand, despite U.S. export restrictions.  
- Companies like SMIC and Huawei-linked firms are aiming to produce 100,000 wafers within two years, up from under 20,000, with a longer-term goal of adding 500,000 by 2030.  
- However, the impact of U.S. restrictions and Taiwan's semiconductor supply risk poses uncertainty for achieving these production targets.

benzinga_article

GTJA Allianz SSE STAR Chip Design Thematic ETF

E Fund CSI Semiconductor Material & Equipment Thematic ETF

Tianshun

ChinaAMC SSE STAR Semiconductor Material & Equipment Thematic ETF

Harvest SSE STAR Chip ETF

Guotai CES Semiconductor Chip Industry ETF

China Merchants CSI Semiconductor Industry ETF

CHOHO

GTJA Allianz CSI All Share Semiconductors & Semiconductor Equipment ETF

Guotai CSI Semiconductor Material Equipment Theme ETF

Harvest CSI All Share Integrated Circuit ETF

China's Top Chipmakers Race To Scale Advanced AI Chips Despite US Curbs As Demand Surges: Report

SMIC: The application documents for issuing shares to purchase assets and related transactions have been accepted by the Shanghai Stock Exchange

With the support of the Chinese government, top chip manufacturers such as SMIC and Hua Hong Semiconductor are striving to double the production of advanced semiconductors to meet the demand for artificial intelligence. The goal is to increase the production of 7-nanometer and 5-nanometer chips from less than 20,000 to 100,000 within one to two years, and to plan for an additional increase of 500,000 chips by 2030. However, U.S. export controls may affect the realization of this production increase target

China aims to double advanced chip production capacity, with SMIC and Hua Hong leading the way to meet AI computing demands

Today, the three major indices of A-shares opened 0.2% higher, with the Shanghai Composite Index at 4,123 points, the Shenzhen Component Index at 14,322 points, and the ChiNext Index at 3,313 points. The People's Bank of China conducted a reverse repurchase operation of 409.5 billion yuan, and the central parity rate of the yuan against the US dollar was reported at 6.9321. Chip stocks performed well, with SMIC opening 1% higher and Cambricon opening 0.8% higher. Film and television stocks performed poorly, with Hengdian Film falling to the daily limit and China Film opening 7.2% lower

The three major A-share indices of Shanghai and Shenzhen opened higher by 0.2%, chip stocks favored, while film and television stocks continued to decline

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The Hang Seng Index's early gains expanded to over 600 points, rising above the 27,000 mark. MEITUAN, SMIC, and Zijin Mining each rose by 5%, while KNOWLEDGE ATLAS plummeted by 15%

TRACKER FUND

Hang Seng Index

HSCEI ETF

KNOWLEDGE ATLAS

MEITUAN

The Hang Seng Index's early gains expanded to over 600 points, rising above the 27,000 mark. MEITUAN, SMIC, and Zijin Mining each rose by 5%, while KNOWLEDGE ATLAS plummeted by 15%

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In terms of sectors, leading technology stocks, semiconductors, non-ferrous metals, and new energy vehicle stocks performed well, with Zijin Mining, Meituan, and SMIC rising over 5%; large model concept stocks retreated, with KNOWLEDGE ATLAS falling nearly 23% and MINIMAX dropping over 13%

- On February 23, the Hang Seng Index and the Hang Seng Tech Index experienced strong fluctuations, with the Hang Seng Index rising 2.53% and the Hang Seng Tech Index increasing 3.34%.  
- Notable performers included Zijin Mining, Meituan, and SMIC, each rising over 5%, while stocks like Zhicheng dropped nearly 23% following prior gains.  
- In the gold sector, China Gold International saw a rise of over 6%, and the significant increase in gold prices has reached over 5,100 USD.

ZIJIN MINING

Meituan

Zijin Mining

iShares Semiconductor ETF

VanEck Semiconductor ETF

GF Fund CSI Semiconductor Material Equipment Theme ETF

ChinaAMC CSI Semiconductor Material & Equipment Thematic ETF

ICBCCS CNI HK Connect Technology ETF

SPDR S&P Semicon

Hang Seng TECH surged over 3%, Meituan rose over 5%, while the "dual giants of large models" KNOWLEDGE ATLAS and MINIMAX showed significant pullbacks

DBS Group Research has lowered the target price for SMIC to 87.4 yuan, maintaining a "Buy" rating. As China's leading 7nm wafer foundry, SMIC benefits from the localization of its supply chain. Short-term profit margins are affected by depreciation, expected to remain in the teens to twenties percentage range. Potential upside comes from improvements in yield and utilization of new capacity, rather than product price increases. Earnings forecasts for 2026 and 2027 have been lowered by 10% and 12%, respectively

DBS Bank lowered the target price for SMIC to 87.4 yuan, maintaining a "Buy" rating with revaluation potential

CICC maintains SMIC's "outperform industry" rating, stating in its report that the company's performance in the fourth quarter of last year met expectations, with H-share revenue of USD 2.489 billion and a gross margin of 19.2%. It is expected that revenue will reach USD 9.327 billion in 2025, with a gross margin of 21%. The company guides that the revenue growth in 2026 will exceed the industry average, but due to pressure from consumer electronics demand, it has lowered its revenue/profit expectations for 2026 by 3%/7%. The target price for A-shares is maintained at RMB 150, and the target price for H-shares is maintained at HKD 100

In "The Big Banks," CICC maintains SMIC's "outperform industry" rating, with fourth-quarter performance in line with expectations

BOCOM International Holdings has maintained a Buy rating on Semiconductor Manufacturing International (0981) with a price target of HK$91.00, while the stock closed at HK$70.35. The analyst consensus suggests a Moderate Buy rating with an average price target of HK$86.15, indicating a potential upside of 22.46%. Additionally, DBS also reaffirmed a Buy rating with a price target of HK$87.40.

- BOCOM International Holdings Company has maintained a Buy rating on Semiconductor Manufacturing International, setting a price target of HK$91.00.  
- The stock closed at HK$70.35, with an overall Moderate Buy analyst consensus rating and an average price target of HK$86.15, suggesting a 22.46% upside.  
- Additionally, DBS has also reiterated a Buy rating with a price target of HK$87.40 in a report released on February 12.

Tip Ranks

New Buy Rating for Semiconductor Manufacturing International (0981), the Technology Giant

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!

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

Amazon

MONTAGE TECH

Montage Technology

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!

DS-SMIC@EC2610A(25800.HK)

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

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

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

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

China's Top Chipmakers Race To Scale Advanced AI Chips Despite US Curbs As Demand Surges: Report