Zhi Tong Cai Jing·2025-09-22 06:15Group 1 - SMIC (00981) shares increased by over 4%, currently trading at 72 HKD with a transaction volume of 4.461 billion HKD [1] - Goldman Sachs raised the target price for SMIC's H-shares by 15% to 73.1 HKD, driven by optimism regarding China's IC design demand and AI trends, which are expected to strongly support SMIC's production and average selling price [1] - The firm also upgraded SMIC's revenue and earnings per share forecasts for 2028-2029, predicting a 5%-7% quarter-on-quarter revenue growth in Q3 2025, which could act as a short-term catalyst for the stock price [1] Group 2 - SMIC plans to issue A-shares to acquire a 49% minority stake in SMIC North, which is expected to enhance its capacity expansion and strengthen the local-for-local trend [1] - The ongoing iteration of advanced process technology in China is likely to lead to a gradual shift of AI chips towards domestic foundries, positioning SMIC as a core asset in the advanced process landscape with significant domestic replacement opportunities in the AI era [1]