On September 1, SMIC fell 3.04% in regular trading, trading at HK$68.65/share, with turnover of HK$1.012 billion. The decline came as the broader semiconductor sector continued to face selling pressure, with the stock extending a multi-day post-earnings adjustment.

On the news front, SMIC had previously reported a strong first-half performance, with revenue of RMB 38.635 billion, up 19.4% year-over-year, and net profit attributable to shareholders of RMB 4.467 billion, surging 94.2% year-over-year. Gross margin improved to 23.2%, up 1.3 percentage points. Multiple institutions subsequently raised their target prices, with BOCOM International lifting its target to HK$108. Despite the robust fundamentals, the stock has seen consecutive days of adjustment following the earnings release, as investors locked in gains.

Within the Semiconductors sector, selling pressure remained broad-based. HUA HONG GRACE fell 2.11%, GIGADEVICE declined 2.02%, BIREN TECH dropped 3.22%, and MONTAGE TECH slid 3.35%, reflecting persistent sector-wide headwinds in the near term.

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