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<Research>BOCI Raises SMIC (00981.HK) TP to HKD98.6; 1Q Results In Line; Strong 2Q Guidance
Recommend 16 Positive 23 Negative 8 |
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BOCI published a report on SMIC (00981.HK), which had 1Q results broadly in line with expectations, with strong guidance for 2Q. Although depreciation and amortization expenses were predicted to lift by more than 30% YoY in 2026, further price hikes were projected to strongly support gross margin. The broker expected SMIC to continue benefiting from crowded tape-out plans by major domestic GPU manufacturers in 2H26 to meet exponential demand for domestic AI inference. Based on 4.5x P/B, the broker maintained a Buy rating on SMIC and raised the H-share TP to HKD98.6 from HKD83.5. 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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