HK Stock Market Move | Semiconductor Manufacturing International Corporation (00981) opened more than 3% higher. Revenue increased in the first quarter, while profits remained flat. Revenue guidance for the second quarter indicates a quarter-on-quarter growth of 14% to 16%.

Semiconductor Manufacturing International Corporation (00981) opened more than 3% higher, reaching 3.36% at the time of publication, with a price of 73.9 Hong Kong dollars and a turnover of 102 million Hong Kong dollars. On the news side, Semiconductor Manufacturing International Corporation released its first quarter results, achieving operating revenue of 17.617 billion yuan, an 8.1% year-on-year increase; net profit attributable to shareholders was 1.361 billion yuan, a 0.4% year-on-year increase. For the second quarter, the company provided revenue guidance of a quarter-on-quarter increase of 14% to 16%, and a gross margin guidance of 20%-22%, a 2 percentage point increase compared to the previous quarter's guidance. It is worth noting that the company's production capacity reached 1.0783 million wafers at the end of the first quarter, an increase of about 10.8% year-on-year, laying the foundation for handling larger shipments in the second quarter. The capacity utilization rate for this quarter was 93.1%, lower than the 95.7% of the previous quarter, but higher than the 89.6% in the same period last year, maintaining an overall high level. The actual sales of wafers in the first quarter were 2.5091 million, basically flat compared to the 2.515 million in the previous quarter.