SMIC was reduced by China’s “national team” for two consecutive days. The Hong Kong Stock Exchange disclosed that China National IC Industry Fund reduced its holdings of 55 million shares of SMIC on April 12, averaging HK$25.56 per share, with a cash out of HK$1.406 billion. Together with the reduction on April 9, the cumulative cash out from SMIC in two trading days was 2.58 billion HK dollars (about 330 million US dollars).
China National IC Industry Fund reduced its holdings of SMIC shares on April 9 at an average price of HK$26.15 per share, involving 45 million shares at HK$1.18 billion, according to Hong Kong Economic Journal.
After two trading days of reduction, China National IC Industry Fund’s holdings in SMIC’s Hong Kong shares fell from 10.19% to 8.93%, to SMIC’s closing price of HK$26.05 today (15), China National IC Industry Fund’s holdings are worth HK$18.37 billion.
SMIC had fallen 2% this morning, closing down only 0.1%, with a turnover of 840 million yuan.
After SMIC landed on the Shanghai Science and Technology Board in July last year, China National IC Industry Fund has disclosed four times that it reduced its holdings of SMIC’s Hong Kong shares, with the last two reductions being at a level of nearly HK$24.
SMIC’s 2020 financial results show that annual profit increased 204.9% to US$720 million and revenue increased 25.4% to US$3.91 billion, driven by increased wafer sales and product mix changes.
SMIC, known as Semiconductor Manufacturing International Corporation (SMIC), is the largest integrated circuit (IC) chip manufacturer in China, second only to TSMC in size, and is a chip supplier to Huawei.
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