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MarketScreener Homepage  >  Equities  >  Hong Kong Stock Exchange  >  Semiconductor Manufacturing International Corporation    981   KYG8020E1199

SEMICONDUCTOR MANUFACTURING INTERNATIONAL CORPORATION

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Caught in China-U.S. trade war, Taiwan offers support to chipmakers

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09/24/2020 | 01:34am EDT
FILE PHOTO: FILE PHOTO: Taiwan President Tsai Ing-wen speaks to the media in Taipei

Taiwan President Tsai Ing-wen promised on Thursday to help the island's key semiconductor industry overcome difficulties and consolidate its leading position, offering support to a sector increasingly caught up in China-U.S. trade tensions.

Companies such as the world's biggest contract chipmaker, Taiwan Semiconductor Manufacturing Co Ltd, are major suppliers to the likes of Apple Inc and Qualcomm Inc, as well as Chinese firms like Huawei Technologies Co Ltd.

In July, TSMC said it had stopped taking new orders from Huawei in May and did not plan to ship wafers after Sept. 15, responding to U.S. curbs on supplying the Chinese company, which the Trump administration views as a security threat.

China, for its part, is trying to nurture tech champions of its own, such as SMIC, its biggest chipmaker, and wean itself off reliance on U.S. suppliers.

Taiwan's chipmakers were a crucial part of the global supply chain, Tsaid told a meeting of semiconductor company representatives in Taipei, including TSMC Chairman Mark Liu.

"We attach great importance to this strategic industry, and will actively assist the industry in solving problems, to continue to consolidate the advantages of Taiwan's semiconductor industry, and to accelerate transformation and development," the presidential office cited Tsai as saying.

Turning Taiwan into an advanced semiconductor processing centre is a key government effort, she added.

"The focus of future development includes localisation of material supplies, technology autonomy, localisation of foreign equipment manufacturing, and localisation of advanced assembly equipment."

The policies will be adopted one by one, to ensure "more abundant technical energy" for the industry and a complete industrial supply chain to enhance its key global role, she added.

Tsai hoped the joint efforts of the government and the private sector would boost the competitiveness of the industry in Taiwan, so that it can be a global bellwether.

On Wednesday, TSMC's Liu said the deleveraging of China-U.S. supply chains and protectionism on both sides of the Pacific would only drive up costs and limit the flow of ideas.

(Reporting by Ben Blanchard; Editing by Clarence Fernandez)


Stocks mentioned in the article
ChangeLast1st jan.
APPLE INC. -0.61% 115.04 Delayed Quote.56.70%
QUALCOMM INCORPORATED 0.39% 128.88 Delayed Quote.46.07%
SEMICONDUCTOR MANUFACTURING INTERNATIONAL CORPORATION -0.97% 20.4 End-of-day quote.70.85%
TAIWAN SEMICONDUCTOR CO., LTD. 0.00% 48.25 End-of-day quote.-9.98%
TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED -0.66% 452 End-of-day quote.36.56%
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Financials (USD)
Sales 2020 3 709 M - -
Net income 2020 342 M - -
Net cash 2020 2 347 M - -
P/E ratio 2020 50,9x
Yield 2020 -
Capitalization 20 265 M 20 265 M -
EV / Sales 2020 4,83x
EV / Sales 2021 4,75x
Nbr of Employees 15 904
Free-Float 82,6%
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Technical analysis trends SEMICONDUCTOR MANUFACTURING INTERNATIONAL CORPORATION
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Income Statement Evolution
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Mean consensus HOLD
Number of Analysts 25
Average target price 2,55 $
Last Close Price 2,63 $
Spread / Highest target 77,5%
Spread / Average Target -2,96%
Spread / Lowest Target -46,1%
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Managers
NameTitle
Hai Jun Zhao Co-Chief Executive Officer & Executive Director
Meng Song Liang Co-Chief Executive Officer & Executive Director
Zi Xue Zhou Chairman
Xin Zhang Senior Vice President-Operations & Engineering
Yong Gang Gao CFO, Joint Secretary, Executive Director & EVP
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