On June 12, SMIC rose 3.48% in regular trading, trading at 76.8 HKD/share, with turnover of 641 million HKD. The stock rebounded from its recent low of 72.35 HKD, supported by broad semiconductor sector strength and fresh institutional endorsements.
On the news front, multiple brokerages recently issued buy ratings on SMIC. Everbright Securities International set a target price of 90 HKD, noting that as the mainland's largest foundry, SMIC is the biggest beneficiary of domestic chip substitution, with AI-driven demand keeping orders at full capacity and boosting utilization rates. Guohai Securities also initiated coverage with a buy rating, forecasting revenue of 11.45 billion USD for the full year with 23% year-on-year growth. Within the Semiconductors sector, stocks rallied broadly, with Hua Hong Semi up 7.47%, Montage Tech up 7.95%, GigaDevice up 7.21%, Iluvatar CoreX up 6.69%, and Innoscience up 4.92%.
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