HK Stock Market Move | Semiconductor Manufacturing International Corporation (00981) fell more than 4% in the afternoon, with the company's annual net profit dropping by 45% year-on-year. Shareholder Xin Xin Hong Kong recently reduced its holdings by 11.3 million shares.

Semiconductor Manufacturing International Corporation (00981) fell more than 4% in the afternoon, dropping 3.47% to HK$44.55 by the time of drafting, with a turnover of HK$6.351 billion. In terms of news, Semiconductor Manufacturing International Corporation announced its performance for 2024, with annual sales revenue of $8.03 billion, a year-on-year increase of 27%, reaching a historical high. The annual profit attributable to the company owners was approximately $493 million, a decrease of 45.4% year-on-year. It is worth noting that on March 28, Xin Xin Hong Kong reduced its holdings in Semiconductor Manufacturing International Corporation by 11.3 million shares, accounting for approximately 0.14% of the total share capital. It was disclosed that the Xinxin Fund entered Semiconductor Manufacturing International Corporation through Xin Xin Hong Kong in 2015. Shenwan Hongyuan Group pointed out that Semiconductor Manufacturing International Corporation's sales revenue guidance for the first quarter of 2025 is between $2.34 billion and $2.38 billion, representing a quarter-on-quarter growth of 6%-8%; gross profit margin is expected to be around 19-21%, with sales revenue growth in 2025 exceeding the average of comparable companies. As of the end of 2024, the company's ongoing construction projects amounted to $88.275 billion, and with sustained high-intensity capital expenditure in 2025, advanced process capacity is expected to accelerate expansion, achieving revenue growth faster than industry peers. The company's premium on advanced processes remains strong, maintaining a "buy" rating.