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Semiconductor manufacturer SMIC with good Q1 figures

SMIC's first-quarter revenue rose to USD 1.1B (22% YoY). Second-quarter sales are expected to grow 17% to 19% to USD 2.4B. Profit reached USD 250M (7% YoY) in the first quarter. With government support, SMIC is a major player in China's efforts to strengthen domestic semiconductor manufacturing, and growth is expected to continue as the company invests heavily in new equipment.


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