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SMIC Expects to Release Capacity of 30K 12-inch Wafers per Month in 4Q
Zhao Haijun, Co-Chief Executive Officer of SMIC (00981.HK), said at an results conference that the industry has not yet bottomed out now, and that the weakest segments are concentr...
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SMIC Expects to Release Capacity of 30K 12-inch Wafers per Month in 4Q
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Zhao Haijun, Co-Chief Executive Officer of SMIC (00981.HK)  -0.600 (-2.210%)    Short selling $447.48M; Ratio 14.359%   , said at an results conference that the industry has not yet bottomed out now, and that the weakest segments are concentrated in the industrial and auto sectors, according to Chinese media.

With the further depletion of inventories for major auto suppliers in Northern Europe as well as photovoltaic and battery customers in China, it is expected that there will be a better revenue boost next year for the Group and its other peers.

Related NewsJefferies Lifts SMIC (00981.HK) TP to $27, Rates Hold
Zhao expected the Company to release approx. 30,000 12-inch wafers per month in 4Q24, but it will take time to validate the added output. The 4Q24 is traditionally an off season. Overall capacity utilization rate and shipments are expected to decrease during the quarter.

SMIC last printed at $29.35 this morning (8th), up 3.89%, with 138 million shares traded, involving $4.091 billion.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-11-14 16:25.)

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