CMB International has covered SMIC's H-shares for the first time, giving a buy rating with a target price of HKD 110. CMB International predicts that SMIC's revenue will increase by 22%, 14%, and 12% in 2026, 2027, and 2028, respectively. SMIC's guidance for the next fiscal quarter is for revenue to increase by 14% to 16% quarter on quarter, with a gross profit margin of 20% to 22%.