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<Research>CLSA Anticipates Limited Impact of US Tariffs on SMIC/ HUA HONG SEMI w/ Both Rated at Outperform
Recommend 35 Positive 38 Negative 30 |
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In 2024, the US market accounted for 13% of SMIC (00981.HK)'s total revenue and 10% of HUA HONG SEMI (01347.HK)'s total revenue, according to CLSA's research report. The broker suggested that, given the relatively small proportion of US business for both companies, the impact of US tariffs should be limited. If China and other countries implement counter-tariff measures on US chips, it might instead stimulate local demand. China's ongoing promotion of domestic semiconductors is favorable for SMIC and HUA HONG SEMI. CLSA's target prices for SMIC/ HUA HONG SEMI are $59.2/ $36.9, both rated at Outperform. AASTOCKS Financial News Website: www.aastocks.com |
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