$SMIC(00981)$ Some people tend

Some people tend to evaluate the current valuation of SMIC using the lens of traditional industries, which is undeniably shortsighted and fundamentally flawed. Without elaborating further, just take a look at the trends in price-to-earnings ratios of companies like BYD $Boyd Gaming(BYD)$. This will help you understand how the market assigns valuations to companies at different stages of development and the unique characteristics that come with them.

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