On June 12, SMIC rose 3.07% at open, trading at 75.55 HKD/share, with turnover of 89.17 million HKD.
On the news front, multiple brokerages recently issued buy ratings for SMIC. Everbright Securities International set a target price of 90 HKD, highlighting the company as the largest beneficiary of domestic substitution with AI-driven orders filling capacity. Guohai Securities also initiated coverage with a buy rating, forecasting 2026 revenue of 11.445 billion USD with 23% YoY growth, noting its acquisition of SMIC North 49% minority stake has received regulatory approval.
Additionally, Counterpoint Research data released on June 9 showed the global pure-play foundry market grew 30% YoY in Q1, driven by surging AI GPU and ASIC orders. SMIC reported its highest-ever quarterly revenue, ranking third globally by revenue. Within the semiconductor sector, HUA HONG SEMI rose 4.59%, MONTAGE TECH rose 6.08%, GIGADEVICE rose 4.95%, INNOSCIENCE rose 3.43%, and ILUVATAR COREX rose 3.58%.
(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.)