Xin Lang Cai Jing·2026-01-01 02:31Group 1: Key Events - Semiconductor Manufacturing International Corporation (SMIC) Southern signed a new joint venture contract and capital increase agreement, raising its registered capital to $10.1 billion, with SMIC's shareholding increasing to 41.56% [1] - The capital increase involved five contributors, with a total cash contribution of $7.778 billion, enhancing SMIC Southern's net assets significantly [2] Group 2: Financial Implications - SMIC Southern's net assets are expected to double following the capital increase, with a current net asset value of 57.462 billion RMB [2] - The acquisition of a 49% stake in SMIC Northern will allow SMIC to fully own the subsidiary, enhancing its financial metrics, including net profit and net assets [3][4] - Post-acquisition, SMIC's net profit is projected to increase by 19.4%, and net assets are expected to rise by 13.6% [4] Group 3: Strategic Support - The participation of the National Integrated Circuit Fund III in the capital increase signals strong governmental support for domestic wafer foundry manufacturers [2] - The capital operations are expected to bolster SMIC's capacity expansion and long-term performance growth, particularly in the AI chip sector [5][6]