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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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TSMC warns China-U.S. deleveraging will drive up costs

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09/23/2020 | 06:46am EDT
Booth promoting Semicon Taiwan 2020 Hybrid is seen at an exhibition center in Taipei

The deleveraging of China-U.S. supply chains and protectionism on both sides of the Pacific will only drive up costs and limit the flow of ideas, the chairman of Taiwan Semiconductor Manufacturing Co Ltd said on Wednesday.

The Trump administration has limited supplies to Chinese tech firms like Huawei Technologies Co Ltd, viewing them as a security threat, and is encouraging U.S. factories in China to move home, part of a broader China-U.S. trade war.

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

Speaking at a semiconductor conference in Taipei, TSMC chairman Mark Liu said over the last four decades the industry had benefited from the free global flow of information.

"But in the future the climate may change. The information flow may not be that free. Tariffs may be erected. So we have to prepare for that," said Liu, whose company is the world's biggest contract chipmaker.

"One thing is the competition will be stronger. Secondly, the cost of production or development will be higher because one cannot leverage the whole world like in the past," he said.

Taiwanese firms like TSMC - a major supplier to the likes of Apple Inc and Qualcomm Inc - have to improve their own technology to respond and remind the world how important the island's companies are, Liu said.

"Because either side of the Pacific is trying to do their self-sufficient supply chains. They want to do it themselves," he said.

"Use Taiwan's engineers' ingenuity to lift our technology level up."

TSMC has become caught up in the China-U.S. tension, saying in July 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.

TSMC also plans to build a $12 billion factory in Arizona, in an apparent win for the Trump administration's efforts to wrestle global tech supply chains back from China.

(Reporting by Ben Blanchard; Editing by Robert Birsel)


Stocks mentioned in the article
ChangeLast1st jan.
APPLE INC. -0.90% 114.125 Delayed Quote.56.70%
QUALCOMM INCORPORATED -2.60% 125.745 Delayed Quote.46.07%
SEMICONDUCTOR MANUFACTURING INTERNATIONAL CORPORATION -0.97% 20.4 End-of-day quote.70.85%
TAIWAN SEMICONDUCTOR CO., LTD. -1.66% 47.45 End-of-day quote.-11.47%
TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED -0.44% 450 End-of-day quote.35.95%
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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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