According to Goldman Sachs's report, SMIC's second-quarter revenue of US$3 billion increased 36% year-on-year and 20% quarter-on-quarter, higher than the bank and market expectations, and also beat management's guidance of 14% to 16% quarterly growth. The gross profit margin for the period was 25.3%, higher than the bank's and market expectations of 21% and 21.4%, and higher than the management's guidance range of 20% to 22%. Goldman Sachs said that quarterly revenue growth was mainly driven by rising wafer shipments and average selling prices, and management attributed the improvement in gross margin to improved product portfolio and higher average selling prices. As for the third quarter guidance, revenue increased by 2% to 4% quarterly, in line with the bank's and market expectations; the gross margin guideline of 26% to 28% exceeded the bank's and market expectations. The bank maintains its buying rating on SMIC and is positive for the company's long-term growth prospects. It believes that growth is driven by increased demand from local semiconductor customers without factories and opportunities related to artificial intelligence. Goldman Sachs gave Hong Kong stocks a target price of HK$135.

According to Goldman Sachs's report, SMIC's second-quarter revenue of US$3 billion increased 36% year-on-year and 20% quarter-on-quarter, higher than the bank and market expectations, and also beat management's guidance of 14% to 16% quarterly growth. The gross profit margin for the period was 25.3%, higher than the bank's and market expectations of 21% and 21.4%, and higher than the management's guidance range of 20% to 22%. Goldman Sachs said that quarterly revenue growth was mainly driven by rising wafer shipments and average selling prices, and management attributed the improvement in gross margin to improved product portfolio and higher average selling prices. As for the third quarter guidance, revenue increased by 2% to 4% quarterly, in line with the bank's and market expectations; the gross margin guideline of 26% to 28% exceeded the bank's and market expectations. The bank maintains its buying rating on SMIC and is positive for the company's long-term growth prospects. It believes that growth is driven by increased demand from local semiconductor customers without factories and opportunities related to artificial intelligence. Goldman Sachs gave Hong Kong stocks a target price of HK$135.