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On October 6, Goldman Sachs announced an upward revision of its target prices for SMIC (00981.HK) and Hua Hong Semiconductor (01347.HK), highlighting that the ongoing expansion of China's AI ecosystem is unlocking fresh prospects for the semiconductor sector. The investment bank has elevated its target prices for both firms to HK$117 per share, a significant increase from the prior targets of HK$95 for SMIC and HK$87 for Hua Hong Semiconductor. Analysts, including Allen Chang, emphasized in their report that as local AI solutions continue to evolve—spanning from model development to semiconductor fabrication—SMIC and Hua Hong Semiconductor are poised to emerge as China's premier wafer foundries and are anticipated to reap substantial benefits over the medium to long term.
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