On August 14, SMIC rose 5.11% in regular trading, trading at HK$70.85/share, with turnover of HK$1.028 billion.

The surge was driven by the company's Q2 earnings released after market close on August 13, which significantly exceeded market expectations across all key metrics. Revenue reached $30.06 billion, up 36.1% year-over-year, while net profit surged 261.7% to $4.79 billion, nearly double the consensus estimate of $2.567 billion. Gross margin climbed to 25.3%, up 5.2 percentage points sequentially.

The company guided Q3 gross margin at 26%-28%, far above the market estimate of 22.1%. Co-CEO Zhao Haijun stated AI-supported chip demand has risen 40%, with AI set to drive continued capacity demand growth in the second half. He noted that Chinese internet companies' hardware investment exceeded expectations, leaving computing power and supporting chips in short supply. The company has also raised prices on its most popular wafers. Additionally, UBS recently upgraded SMIC to \"Buy\" with a target price of HK$96.2, citing a 23% revenue CAGR through 2028.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)