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<Research>CLSA Lowers Earnings Forecasts for SMIC (00981.HK), Keeps Outperform Rating
Recommend 18 Positive 25 Negative 19 |
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SMIC (00981.HK)'s 4Q25 results and 1Q26 guidance were largely in line with expectations, CLSA published a research report saying. Despite the constraints from memory shortages, the demand for consumer electronics remains intact. The Company expected the memory shortage situation to ease within 9-12 months. SMIC's capital expenditure for 2026 will remain at US$8.1 billion, with depreciation expenses growing by 30% YoY. CLSA lowered its 2026/ 2027 earnings forecasts for SMIC by 14%/ 11%, but kept its target prices for SMIC's H-/ A-shares at $93.3/ RMB152 and ratings at Outperform. AASTOCKS Financial News Website: www.aastocks.com |
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