Sou Hu Cai Jing·2026-01-03 11:06Core Viewpoint - The National Integrated Circuit Industry Investment Fund has significantly increased its stake in SMIC's H-shares, raising its ownership from 4.79% to 9.25%, indicating strong governmental support for the semiconductor industry and a deepening strategic layout in this sector [1][2][4]. Group 1: Company Actions - The National Integrated Circuit Fund's stake in SMIC has increased by 4.46 percentage points, reflecting a substantial investment in the company [2]. - This move is seen as a signal of the government's commitment to supporting the integrated circuit industry, which is crucial for China's technological advancement [2][4]. Group 2: Market Reaction - Following the announcement, semiconductor stocks in Hong Kong experienced explosive growth, with Huahong Semiconductor's stock price surging over 9% and SMIC's stock rising over 5% [4]. - The market's positive response underscores the significance of the National Integrated Circuit Fund's actions and the optimistic outlook for the semiconductor sector [4]. Group 3: Industry Outlook - Analysts believe that with the global semiconductor cycle recovering and domestic policies supporting the industry, leading manufacturers like SMIC are entering a period of performance and valuation recovery [4]. - The continuous improvement of the domestic semiconductor supply chain is expected to lead to a brighter future for chip companies, particularly those led by SMIC [4].