On July 15, SMIC fell 3.13% in regular trading, trading at HK$75.9/share, with turnover of HK$3.947 billion. The semiconductor sector extended the prior session's correction, with peers HUA HONG GRACE down 3.5%, GIGADEVICE down 5.22%, MONTAGE TECH down 3.73%, and BIREN TECH down 2.89%, reflecting broad-based sector pressure.

The stock had experienced a rapid rally in recent sessions, with its A-share surging over 14% on July 9 — briefly surpassing Kweichow Moutai in market capitalization — followed by a further 5%+ gain in Hong Kong on July 13. The substantial short-term cumulative gains triggered concentrated profit-taking over two consecutive trading days. Industry-level catalysts including wafer foundry price hike expectations and the upcoming World Artificial Intelligence Conference remain intact, suggesting the pullback is primarily technical in nature rather than a shift in medium-term fundamentals.

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