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00981 SMIC
RTNominal down14.320 -0.200 (-1.377%)
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18/01/2021 17:31

{I-bank focus}Goldman lifts SMIC (00981) to HK$29.5; "buy"

[ET Net News Agency, 18 January 2021] Goldman Sachs lifted its target price for SMIC
(00981) to HK$29.5 from HK$26.2 and maintained its "buy" rating.
The research house raised its estimates on both SMIC and Will Semiconductor (Shanghai
code: 603501), given stronger CIS (CMOS Image Sensor) demand, which drives better
utilization (higher volume) and ASP for SMIC's 40-65nm process nodes. As smartphones' main
cameras continue to migrate toward higher-resolution (48/64MPx) CIS, Goldman expects the
wafer consumption from CIS to continue to grow.
With strong demand from CIS, it expects Will Semi to contribute 6%/8% of SMIC's revenue
in 2021/22 (versus 5% in 2020). (KL)

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