Mei Ri Jing Ji Xin Wen·2025-11-18 02:50Group 1 - The Hong Kong stock market experienced a collective decline, with technology stocks falling, automotive stocks weakening, and semiconductor stocks performing strongly [1] - The Hang Seng Tech Index ETF (513180) followed the index down, with major holdings like Xpeng Motors, Lenovo Group, NIO, Li Auto, BYD, and Xiaomi seeing significant declines, while Hua Hong Semiconductor and SMIC led the gains [1] - SMIC reported a capacity utilization rate of 95.8% in Q3, indicating strong demand and a supply-demand imbalance, with a decrease in mobile business share due to prioritizing urgent orders [1] Group 2 - The impact of storage supply is dual-sided, with current orders being boosted but uncertainty for the next year; a 5% shortage or surplus could significantly affect prices [2] - The semiconductor industry is experiencing a supply gap, with high prices expected to persist; new entrants face long validation cycles and high barriers to entry, stabilizing the market position of existing suppliers [2] - SMIC's Q3 financial report showed increased capacity utilization and a 3.8% increase in average selling price (ASP), driven by product structure optimization, with expectations for continued strong performance in Q4 [2]