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00981 SMIC
RTNominal up15.100 +0.240 (+1.615%)
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13/01/2020 17:21

{I-bank focus}Goldman Sachs raises SMIC (00981) to HK$16.3

[ET Net News Agency, 13 January 2020] Goldman Sachs raised its target price for SMIC
(00981) to HK$16.3 from HK$14.5 and maintained its "buy" rating.
The research house expects SMIC to enjoy growth momentum from both mature and advanced
nodes on the back of growing demand from domestic customers and 14nm ramp-up.
It expects SMIC to expand 12/14nm FinFET capacity from 3k wafers/month in 4Q 2019 to 15k
wafers/month in 4Q 2020, and 12/14nm revenue contribution to increase from 0.4% in 4Q 2019
to 2.7% in 2020.
With a stronger demand for consumer electronic SoCs (TV, STB, surveillance cameras) from
customers such as HiSilicon, Goldman expect a better utilization of 12/14nm capacity in
2020-21 and thus raised 12/14nm revenue and GM. (KL)

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