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23290 UB-SMIC@EC2411A (CALL)
RT Nominal down0.620 -0.110 (-15.068%)

08/02/2024 15:23

{I-bank focus}HSBC lowers SMIC (00981) to HKD13.6

[ET Net News Agency, 8 February 2024] HSBC Global Research lowered the target price for
SMIC (00981) to HKD13.6 from HKD19.5 and maintained the "hold" rating.
The research house said it cuts FY24 EPS estimate by 17%, mainly to reflect lower GM
assumptions, as it expects depreciation to continue to put pressure on margins amid flat
capex guidance and lack of demand visibility, implying sub-par utilization rates. (RC)

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