On September 18, SMIC rose 3.21% in regular trading, trading at HK$64.35/share, with turnover of HK$1.475 billion. The stock advanced amid a broad-based semiconductor sector rally.

On the policy front, the recently released Electronic Information Industry 15th Five-Year Plan has provided a significant boost to the semiconductor sector, reinforced by strengthening domestic substitution logic amid ongoing US-China tech tensions. Analysts note the semiconductor industry remains in an upcycle, with AI serving as a key growth driver expected to benefit domestic chipmakers and expand their market share.

Fundamentally, SMIC reported robust H1 results with revenue of US$5.511 billion, up 23.7% year-on-year, and net profit attributable to owners of US$677 million, surging 111.1%. Gross margin improved to 22.9%, up 1.5 percentage points. Southbound capital net purchased HK$600 million of SMIC shares earlier this week, while the stock was recently added to the top ten holdings of a prominent onshore fund.

Within the Semiconductors sector, peers also posted gains: BIREN TECH up 7.56%, ILUVATAR COREX up 8.37%, GIGADEVICE up 6.09%, MONTAGE TECH up 5.83%, HUA HONG GRACE up 4.54%.

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