What does SMIC's acquisition approval signify? The curtain rises on semiconductor industry consolidation.

① SMIC's asset acquisition through share issuance was approved at the meeting on May 11, marking the largest transaction in the STAR Market to date; ② The process from acceptance to approval took only 75 days, signaling the beginning of consolidation in the semiconductor industry; ③ After receiving final registration approval from the CSRC, all transactions are expected to be completed within 2026.

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SMIC's $40.6 billion acquisition approved! SMIC Northern will become a wholly-owned subsidiary, with the target valuation premium nearly doubled.

①On May 11, the M&A Restructuring Examination Committee of the Shanghai Stock Exchange held its 5th review meeting of 2026, approving SMIC's application for the issuance of shares to acquire 49% equity in Zhongxin Northern; ②Zhongxin Northern mainly provides 12-inch integrated circuit wafer foundry services for chip manufacturers at 28nm and above nodes, with a monthly production capacity of 75,000 wafers. After the acquisition is completed, the listed company will strengthen its control over it.

cls.cn09:21

Market sentiment for going long has fully warmed up, with a focus on rotation and catch-up opportunities within the technology supply chain.

Track the entire lifecycle of the mainline sector.

cls.cn09:18

Earnings Preview | SMIC Q1 2026 Earnings Outlook: Steady Revenue Growth in Off-Peak Season, Guidance Remains Key

$SMIC (00981.HK)$ is about to release its Q1 2026 financial results. Market expectations indicate: revenue for Q1 2026 is projected to reach $2.501 billion, representing an 11.30% year-over-year increase; earnings per share are expected to be $0.025, marking a 26.0% year-over-year growth. The data mentioned above follows the International Financial Reporting Standards. Based on the company’s guidance and industry data, this earnings report paints a relatively clear picture: revenue continues to demonstrate resilience, profitability remains under pressure due to depreciation, capacity structure is shifting toward high-demand areas, and the cyclical turning point anticipated in the second half of the year will serve as a key variable determining the full-year performance trend. First quarter

Futu News09:10

Little K Morning Report | Tencent Co-invests in Step's $2.5 Billion Financing; OpenAI Invests Over $4 Billion to Establish New Division

① Investor Michael Burry warned that the Nasdaq 100 Index may experience a significant decline; ② Guangzhou: Supporting the research and development of potential blockbuster smart hardware products such as AI glasses; ③ BeiGene: Net profit for the first quarter was 1.608 billion yuan.

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Procurement demand exceeds expectations, and institutions predict that the semiconductor packaging and testing equipment sector will remain highly robust through 2026.

①According to reports, outsourced semiconductor packaging and testing manufacturers have successively announced increased investments. However, industry insiders pointed out that the demand for advanced packaging and testing equipment has exceeded expectations, and the influx of orders has led to queues forming in the upstream supply chain. ②A GF Securities research report stated that based on guidance from overseas manufacturers, the prosperity of packaging and testing equipment will remain high through 2026.

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