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<Research>M Stanley: SMIC (00981.HK) 2Q Guidance Strong; Rating Overweight
Recommend 20 Positive 18 Negative 11 |
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Morgan Stanley said that SMIC (00981.HK) recorded 1Q revenue of USD2.51 billion, up 1% QoQ and 11% YoY, in line with the broker's and market's expectations, thanks to an increase in blended ASP. Net profit attributable to shareholders amounted to USD197 million, up 14% QoQ, but fell short of the broker's and market's expectations owing to reduced government subsidies in 1Q. The broker noted that SMIC provided strong guidance for 2Q, expecting revenue to grow 14-16% QoQ, supported by shipment growth of about 10% and price increases of about 5%. It maintained an Overweight rating on SMIC with a TP of HKD70. Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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