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SMIC released its second-quarter results. Its revenue in the second quarter was US$1.90 billion, an increase of 8.6% month-on-month and 21.8% year-on-year. The market estimate was US$1.84 billion. Its net profit was US$164.6 million, a decrease of 59% year-on-year. The market estimate was US$76.3 million. Its monthly production capacity increased from approximately 814,500 8-inch wafers in the first quarter of 2024 to approximately 837,000 8-inch wafers in the second quarter of 2024, which fully exceeded market expectations.

At present, according to Strategy Analytics, it is expected that the localization rate of China's semiconductor equipment will only rise to 13.6% in 2024, and China's semiconductor industry still has a lot of room for improvement in many core areas. Therefore, improving independent innovation capabilities and promoting the coordinated development of upstream and downstream of the industrial chain have become the only way for China's semiconductor industry. Wang Shubao of Guodu Securities pointed out that currently, driven by the demand for AI and the influence of the external environment, the domestic semiconductor industry chain will usher in accelerated development, and upstream semiconductor equipment companies are expected to usher in a longer boom cycle.

According to the Cailianshe theme database, among the relevant listed companies:

TuoJing TechnologyIt is the only supplier of integrated circuit hybrid bonding equipment for industrial applications in China. SMIC was once the company's largest customer.

Jiangfeng ElectronicsIt is engaged in the R&D, production and sales of high-purity sputtering targets. SMIC is one of the company's top five customers.