Stock Track | SMIC Soars 5.11% Intraday on SMIC North Consolidation Proposal

Stock Track05-11

SMIC's stock price surged 5.11% during intraday trading on Monday, driven by market optimism surrounding a key corporate consolidation proposal.

The significant price movement follows news that the company's board is scheduled to vote on the full consolidation of SMIC North into its financial statements. According to market analysis, if approved, the consolidation would shift SMIC North from 51% proportional consolidation to full 100% consolidation from the second quarter onward.

Market estimates suggest this consolidation could result in an estimated profit accretion of approximately RMB 9.8 billion, representing a 7-8% increase in attributable net profit for SMIC. Some analysts project that full-year net profit could reach approximately RMB 14 billion following the consolidation, which has boosted investor sentiment and contributed to the stock's strong performance.

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