Daily Investment Strategy
Daily focus：SMIC（981）
During the quarter, the company's revenue reached $2.247 billion, marking a 1.8% quarter-over-quarter increase and a significant 28.4% year-over-year growth. Gross profit was $506 million, maintaining a 22.5% margin, consistent with the previous quarter. Thanks to lower R&D and administrative expenses, net profit attributable to shareholders rose to $188 million, showing an impressive 74.8% quarter-over-quarter increase. Management remains cautious about the outlook for Q2, expecting a 4% to 6% quarter-over-quarter revenue decline, with gross margin guidance of 18% to 20%, slightly lower than Q1.
The United Kingdom is the first country to reach trade agreement with the United States
US President Trump said a major deal had been reached with the UK and the final details would be worked out in the coming weeks. The United Kingdom is the first country to reach an agreement with the United States, but according to current news, the United States will impose a 10% tariff on the United Kingdom, which may indicate that even if a trade agreement is reached, might indicate the United States will still impose a minimum tariff of 10% on imported goods, even trade agreement reached.
Hong Kong Stock Connect recorded a net outflow of HK$23.8 billion on Thursday, of which China Construction Bank (939) recorded the largest net inflow of HK$870 million, followed by Chifeng Gold (6693); Tencent Holdings (700) recorded the largest net outflow of HK$1.18 billion, followed by Pop Mart (9992).
Cheung Cho Shing, Joseph is a SFC licensed person accredited to KGI Group to carry on regulated activities (for details, please refer to:https://apps.sfc.hk/publicregWeb/indi/ACQ030/details). He and/or his associate do not have any financial interest in the recommended issuer or new listing applicant.
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