Key Takeaways
- SMIC’s stock (00981.HK) rose 6.15 percent on May 15
- First-quarter net profit increased 0.4 percent year-over-year to 1.361 billion yuan
- The company forecasts sequential revenue growth for the second quarter
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SMIC stock jumps over 6% on Q1 profit and positive outlook
Semiconductor Manufacturing International Corp. rose 6.15 percent after reporting a 1.361 billion yuan first-quarter net profit and forecasting continued growth into the second quarter.
The chipmaker’s Q1 net profit marked a 0.4 percent increase compared to the same period last year. Following the results, SMIC’s Hong Kong-listed shares (00981.HK) rallied, closing up 6.15 percent on May 15. The positive momentum extended to other semiconductor stocks, with Changguang Chenxin (03277.HK) gaining 2.95 percent and Guomin Technology (02701.HK) rising 1.54 percent.
The company projected that its revenue would see sequential growth in the second quarter, a key indicator for investors monitoring the recovery of China's domestic semiconductor industry.
The strong performance and positive guidance from China's largest chipmaker may boost investor confidence in the sector's resilience amid a complex global market. Investors will watch for the official Q2 results later in the year to confirm if the growth trajectory is sustained.
This article is for informational purposes only and does not constitute investment advice.
[1] Bearish block trade of SMIC(00981) 105.5K shares at $71.5, $7.543M turnover - AASTOCKS.com[2] Bullish block trade of SMIC(00981) 109K shares at $74.7, $8.142M turnover - AASTOCKS.com[3] SMIC reported Q1 revenue of $2.5 billion and forecasts a 14%-16% increase in Q2 revenue on a quarterly basis, expressing optimism about customer demand and order conditions. - 富途牛牛[4] SMIC's Q1 revenue reached USD 2.505 billion, representing a 0.7% increase quarter-over-quarter, with projected Q2 revenue growth of 14%-16%. | Earnings Report - Moomoo
