On June 22, according to information on the official website of the Shanghai Stock Exchange, SMIC submitted the registration of companies to be listed on the science and technology innovation board. It is worth noting that, only three days ago, SMIC international science and technology innovation board first met and passed the registration system audit. It is worth noting that from the date when the listing application was officially accepted on June 1 to the successful meeting, SMIC only took 19 days.
At present, it is the general trend for chip design companies to adopt diversified wafer foundry suppliers, and SMIC is expected to continue to undertake the transfer orders from overseas wafer foundry companies.
In the ten questions and ten answers to investment in SMIC, Guoxin Securities answered the question about long-term market value prediction of SMIC, saying that assuming only 14nm advanced process is considered, SMIC plans to build two 12 inch factories in the future, with a monthly capacity of 35000 pieces. If the net profit margin of ASP can reach 30% based on the assumption of 4000 US dollars, only two new factories in the future will contribute 1 billion US dollars of net profit. According to the 93 times of average p / E ratio of A-share semiconductor companies, the market value of SMIC in the future can reach 650 billion yuan.
At the same time, due to the high overlap of investors investing in SMICs a / H shares, the A / H share valuation of SMIC will converge at that time, and the Hong Kong stock SMICs valuation will be in line with the 5 times Pb valuation of science and technology innovation board.
At the time of the listing of SMIC international science and technology innovation board, Guoyuan securities suggests that it can simultaneously pay attention to the opportunities of upstream shovel seller equipment and materials. Its suggestions focus on the upstream equipment industry chain: Zhongwei company, North Huachuang, Huafeng measurement and control, Xinyuan micro, shengmei semiconductor, saiteng Co., Ltd., Wanye enterprise, etc.; the upstream material industry chain: Anji technology, Dinglong Co., Ltd., Jacques technology, Jingrui Co., Ltd., Huate gas, Shanghai silicon industry, Youyan new material, Shanghai Xinyang, Jiangfeng electronics, etc.