Movement Alert｜Shanghai Fudan Microelectronics Falls 5.41% in Regular Trading, Continued Selloff as Core Business Growth Lags Headline Profit Surge

Market Focus07-17

On July 17, Shanghai Fudan Microelectronics (01385.HK) fell 5.41% in regular trading, trading at HK$26.24/share, with turnover of HK$57.09 million. The stock has now declined over 20% from its post-announcement high on July 8.

The sustained selloff follows the company's July 7 profit alert, which projected H1 attributable net profit of RMB 800 million to RMB 1 billion, up 313% to 416% year-over-year. While the headline figures initially drove a 10%+ rally, market focus has since shifted to earnings quality concerns. Approximately RMB 470 million of the profit came from fair value gains on strategically held shares in Shenghe Jingwei Semiconductor. Excluding non-recurring items, net profit was only RMB 350 million to RMB 450 million, representing 92% to 147% growth — significantly below the headline figure. Revenue growth of 20% to 31% also suggests modest core business improvement relative to the optically strong bottom line.

Within the Semiconductors sector, peers also declined broadly, with SMIC down 4.85%, Hua Hong Grace down 4.96%, GigaDevice down 7.67%, and Montage Tech down 5.74%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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