XI2CSOPHSTECH

CENTRAL DEV H

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CICC reported that SMIC's Q1 results and Q2 guidance met expectations, with Q1 revenue at USD2.505 billion, up 11% YoY. Gross margin was 20.1%. For Q2, revenue is expected to grow 14-16% QoQ, with a gross margin of 20-22%. The report highlights SMIC's capacity utilization at 93.1% and notes benefits from localized production demand amid AI supply constraints. The broker maintains an Outperform rating with a target price of HKD100.

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CICC

SMIC

SMIC HK SDR 5to1

CICC: SMIC  1Q Results and 2Q Guidance In Line; Deeply Benefiting from Localized Production Demand

JPMorgan upgraded Semiconductor Manufacturing International Corporation's (SMIC) investment rating from 'underweight' to 'neutral' following improved first-quarter profit margins due to selective price increases. The second-quarter revenue is expected to grow by 14% to 16%, driven by AI and localization demand. However, potential weakening in consumer electronics demand in the second half poses risks. The target price was raised from HKD 57 to HKD 67, reflecting a price-to-book ratio of 2.8 times.

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JPMorgan Chase

JPMORGAN CHASE & CO. 4.20% DEP SHS REPSTG 1/400TH PFD SER MM

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JPMorgan Chase & Co.

JPMORGAN CHASE & CO. 4.55% DEP SHS REPSTG 1/400TH PFD SER JJ

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JPMorgan Upgrades SMIC Rating Amid Improved Profit Margins

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JPMorgan upgraded SMIC to Neutral and raised its target price to HKD67, citing a better-than-expected 1Q gross margin and strong 2Q revenue guidance. Despite anticipated consumer electronics demand weakening in 2H, the bank increased its 2026 and 2027 earnings forecasts by about 15%. The upgrade reflects broader price increases, although risks remain from potential declines in consumer demand.

Guotai CSI Semiconductor Material Equipment Theme ETF

ChinaAMC Guozheng Semiconductor Chip ETF

ICBCCS CNI HK Connect Technology ETF

ChinaAMC SSE STAR Semiconductor Material & Equipment Thematic ETF

JPM Upgrades SMIC  to Neutral, Raises TP to HKD67

SMIC reports an increase in foreign orders as overseas clients shift production to China due to rising AI demand, which is straining capacity at foreign foundries. The company has upgraded its 2026 operational forecast in response to strong AI-driven demand and domestic substitution. However, U.S. export controls on chips continue to pose challenges, particularly for advanced AI chip sales to China.

SMIC sees foreign orders rise as AI boom shifts capacity

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DBS analyst Jim Hin Kwong Au has maintained a Buy rating for Semiconductor Manufacturing International (0981) with a price target of HK$87.40. The analyst, known for a 30.1% average return and 69.23% success rate, is part of a Strong Buy consensus for the stock, which has an average price target of HK$89.65.

- A report from Jim Hin Kwong Au at DBS maintains a Buy rating on Semiconductor Manufacturing International with a price target of HK$87.40.  
- Au is a 5-star analyst with an average return of 30.1% and a 69.23% success rate, focusing on the Technology sector.  
- The general analyst consensus for Semiconductor Manufacturing International indicates a Strong Buy rating with an average price target of HK$89.65.

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New Buy Rating for Semiconductor Manufacturing International (0981), the Technology Giant

M Stanley rated SMICas Overweight, citing strong 2Q guidance with expected revenue growth of 14% to 16% QoQ. 1Q revenue was USD2.51 billion, up 1% QoQ and 11% YoY, with a gross margin of 20.1%. Net profit was USD197 million, up 14% QoQ but below expectations due to reduced subsidies. The broker highlights SMIC's role in China's AI GPU supply chain and maintains a target price of HKD70.

Morgan Stanley

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M Stanley: SMIC  2Q Guidance Strong, Rated Overweight

Kevin Warsh has been confirmed as the new chairman of the US Federal Reserve. While he asserts commitment to the Fed's independence, concerns arise about potential government influence. Warsh has criticized the Fed's interest rate strategies, reflecting some of President Trump's views, which may impact bond investors.

Businesstimes News

What bond investors should know about a Warsh-led Federal Reserve

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Treasury yields have surged to multi-year highs, with the 30-year yield exceeding 5.1% and the 10-year at 4.6%, driven by inflation concerns. Futures markets indicate a strong likelihood of a Fed rate hike by early 2027, potentially as soon as December. These higher yields could increase mortgage and corporate borrowing costs, negatively impact stocks, and slow economic growth.

Dow Jones Industrial Average

Dow Jones U.S. Index

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Bond yields hit highs as Fed hike bets surge

One result of the massive monetary expansion was an upsurge in inflation, to a peak of over 9% in 2022—which the Fed infamously termed “transitory.”

Grading Powell’s Fed: Good for stocks, bad for affordability

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Hua Hong Semiconductor's shares fell 1.2% despite a 458% surge in Q1 profit to USD20.9 million, driven by strong demand in the AI-driven chip market. Revenue rose 22% to USD660.9 million. The company anticipates Q2 income between USD690 million and USD700 million. In contrast, rival SMIC reported a 5% profit increase and a 12% revenue rise, with its shares gaining 4.2%. The semiconductor industry is rapidly evolving, with AI playing a crucial role.

Yicai

Hua Hong

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Guotai CSI All Share Integrated Circuit ETF

Hua Hong Drops Despite Chinese Chipmaker Reporting Over Five-Fold Surge in First-Quarter Profit

I could be wrong, but this looks like the typical Monday sweep to me. Also, whenever mainland Chinese pump, foreigners will take profits.

Toast

$Hang Seng TECH Index(STECH.HK) is really something! The power of this short selling. The &#34;sell in May and go away&#34; period for Hong Kong stocks has begun.

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HSTECH ETF

XL2CSOPHSTECH

Could the flying of Trump to Beijing subtly hint of a softening of stance? I have already added HK tech exposure prior to Trump's reporting to Xi as there are signs of bottoming and stabilisation of the Hang Seng Tech index. Vested in HST ETF and waiting for boat to set sail.

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$Hang Seng TECH Index(STECH.HK)$XTALPI(02228.HK) F*ck, I want to clear out all my Hong Kong stocks. What a piece of crap. The Hang Seng just crashes for no reason. It's even worse than the crypto market. Allow me to vent a little.

CSOP HS TECH

Hang Seng TECH ETF I

XTALPI

Hang Seng Index

Wear new shoes, walk the old pathIt seems to have developed, turned around, and modernized, but once encountering pressure or real constraints, it reverts to the old ways—the practices from the beginning.【Securities Researcher: &#34;Information involving tax assessments for related high-tech companies&#34; only indicates stricter assessments, not a blanket ban】This afternoon, the Hang Seng Tech Index suddenly widened its losses, with the index falling more than 2.5% at one point. Alibaba, Tencent Holdings, JD.com, and Meituan all saw increased declines, and the corresponding call warrants plummeted across the board. At noon, a piece of information about &#34;tax assessments for related high-tech companies&#34; circulated among securities researchers, triggering market volatility. Although this rumor has not yet received official endorsement, the market has already begun pricing it in. However, the market's pricing of such events is often one-time, and the corresponding factors are also variable. If the situation reverses, it will inevitably trigger a major counterattack. A securities researcher said it is only stricter assessments, not a blanket ban.$BABA-W(09988.HK)$TENCENT(00700.HK)$XIAOMI-W(01810.HK)

MEITUAN

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Tencent

Tencent Holdings Limited

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JD.com

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Alibaba HK SDR 5to1

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$XTALPI(02228.HK) The first to rise in the Hong Kong stock watch list! Push it up!

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$XTALPI(02228.HK) Cautiously optimistic, Hang Seng Tech shows signs of crashing again. Damn it, Hang Seng has a history of crashing after long holidays countless times. This 🐶 just can't be reliable in the long run.

Huatai-PB CSOP Hang Seng Technology ETF(QDII)

The Hang Seng Index opened higher, refreshing its nearly four-year high; Tencent's performance exceeded expectations, receiving collective bullish calls from major banks; Chip stocks strengthened on the logic of domestic substitution, with SMIC leading the gains; Ping An's stake increase in China Taiping H-shares ignited the insurance sector; Cryptocurrency concept stocks surged as Bitcoin hit a new high; In the pharmaceutical sector, Jingtai Holdings reported its first profit, rising over 11%, while East Buy saw a sudden 12% increase.

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GUOTAI JUNAN I

Life Sciences Tools and Services

Semiconductors

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INNOVENT BIO

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Interactive Media and Services

EAST BUY

Hot Trades in Hong Kong Stocks (8.14) | Hang Seng Index Hits Four-Year High at Opening, Morgan Stanley Says Foreign Capital Accelerated Inflows into Chinese Stock Market in July

Hong Kong stocks opened high and moved higher, with technology stocks and pharmaceutical stocks rising together. The technology index rose 2.35%, Tencent Music surged more than 15% after earnings, and Alibaba rose more than 4%.

Tencent Music

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Asymchem

CHINA LIT

Hong Kong stock hot trading (8.13)｜ Hong Kong technology stocks fully exploded, Tencent hit a four-year high, Alibaba surged over 4%

XI2CSOPHSTECH(07552.HK)

CICC: SMIC 1Q Results and 2Q Guidance In Line; Deeply Benefiting from Localized Production Demand

JPMorgan Upgrades SMIC Rating Amid Improved Profit Margins

JPM Upgrades SMIC to Neutral, Raises TP to HKD67

SMIC sees foreign orders rise as AI boom shifts capacity

New Buy Rating for Semiconductor Manufacturing International (0981), the Technology Giant