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| HSI1 | 25,930.03 | 0.00 | -- |
| HSCEI1 | 9,174.84 | 0.00 | -- |
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2025-11-18 11:12:58 SMIC (00981.HK)'s stock price rose significantly in 3Q25, which JPMorgan attributed in a research report to its position as a leading indicator for wafer foundry production growth in China that supports the localization of AI chip production. That being said, JPMorgan believes it will need actual earnings data to support sustained premium valuation, which is unlikely to be realized in the next 6-12 months. The report also highlighted that SMIC's GPM remained at the low 20% level despite strong demand for advanced process products and near-saturated capacity utilization. JPMorgan expects limited room for SMIC to log marked improvement in its GPM over the coming years due to rapidly rising depreciation costs. Maintaining a cautious outlook on SMIC, JPMorgan has kept an Underweight on the company but lifted its target price from HKD36 to HKD57. ~ AAStocks Financial News Web Site: www.aastocks.com | |