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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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Intel gets U.S. licences to supply some products to Huawei

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09/24/2020 | 03:01am EDT
FILE PHOTO: Huawei sign is seen on its store at a shopping complex in Beijing

(This September 22 story corrects to add dropped word "yet" in paragraph 6)

By Josh Horwitz

Intel Corp has received licences from U.S. authorities to continue supplying certain products to Huawei Technologies [HWT.UL], an Intel spokesman said on Tuesday.

With U.S.-China ties at their worst in decades, Washington has been pushing governments around to world to squeeze out Huawei, arguing that the telecoms giant would hand data to the Chinese government for espionage.

From Sept. 15, new curbs have barred U.S. companies from supplying or servicing Huawei.

This week the state-backed China Securities Journal said Intel had received permission to supply Huawei.

Last week China's Semiconductor Manufacturing International Corporation confirmed it had also sought permission to continue servicing Huawei. SMIC uses U.S.-origin equipment to make chips for Huawei and other companies.

South Korean chipmaker SK Hynix also applied for U.S. licence for Huawei sales, but it has not yet gained approval, a person familiar with the matter said.

The person, declining to be identified as they were not authorised to speak to media, said non-U.S. firms may not have a high chance of getting U.S. approval, and chipmakers are drafting contingency plans to increase supplies to other customers.

SK Hynix declined to comment.

In August, Taiwanese chip designer MediaTek Inc disclosed it had applied to the U.S. government for permission to continue supplying China's Huawei.

Huawei, founded in 1987 by a former engineer in China's People's Liberation Army, denies it spies for Beijing and says the United States is trying to smear it because Western firms are falling behind in 5G technology.

In what some observers have compared to the Cold War arms race, the United States worries that 5G dominance would give China an advantage Washington is not ready to accept.

(Reporting by Josh Horwitz; Additional reporting by Hyunjoo Jin in Seoul; editing by Clarence Fernandez and Jason Neely)


Stocks mentioned in the article
ChangeLast1st jan.
INTEL CORPORATION 0.75% 53.9 Delayed Quote.-9.94%
MEDIATEK INC. -0.43% 688 End-of-day quote.55.13%
SEMICONDUCTOR MANUFACTURING INTERNATIONAL CORPORATION 2.74% 20.6 End-of-day quote.72.53%
SK HYNIX, INC. -0.60% 83300 End-of-day quote.-11.48%
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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 50,0x
Yield 2020 -
Capitalization 19 918 M 19 917 M -
EV / Sales 2020 4,74x
EV / Sales 2021 4,66x
Nbr of Employees 15 904
Free-Float 82,6%
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Technical analysis trends SEMICONDUCTOR MANUFACTURING INTERNATIONAL CORPORATION
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TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 25
Average target price 2,55 $
Last Close Price 2,59 $
Spread / Highest target 80,6%
Spread / Average Target -1,27%
Spread / Lowest Target -45,2%
EPS Revisions
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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