CICC International: Maintains Semiconductor Manufacturing International Corporation (00981.HK) "outperform" rating, target price of 54 Hong Kong dollars.

According to the Wisdom Financial APP, CICC released a research report saying that the faster depreciation of the new factory building capacity of SMIC (00981.HK) will continue to affect the group's gross profit margin, but the increase in demand and improvement in product mix may alleviate this impact. The bank has lowered the group's profit forecast for the next two years, reflecting higher minority shareholder dividends. The bank maintains a target price of HK$54 for SMIC's H shares, taking into account the group's increasingly important position in advanced chip manufacturing in China, and temporarily maintains a "outperform market" rating for H shares.