HK Stock Market Move | Semiconductor Manufacturing International Corporation (00981) rose more than 6% in midday trading, intending to acquire a 49% stake in Northern China Semiconductor Corporation and fully control high-quality assets.

Semiconductor Manufacturing International Corporation (00981) rose more than 6% in midday trading, rising by 6.23% to 69.95 Hong Kong dollars with a trading volume of 5.274 billion Hong Kong dollars. On the news front, on April 30th, according to the news from the Shanghai Stock Exchange, Semiconductor Manufacturing International Corporation announced that it had received a notice to implement the opinions of the Shanghai Stock Exchange Audit Center. Semiconductor Manufacturing International Corporation intends to issue shares to purchase a total of 49% equity of North China Beijing Integrated Circuit Manufacturing (Beijing) Co., Ltd. from China National Integrated Circuit Industry Investment Fund Co., Ltd., Beijing Integrated Circuit Manufacturing and Equipment Equity Investment Center (Limited Partnership), Beijing Yizhuang International Investment Development Co., Ltd., Beijing Centergate Technologies Development Group Co., Ltd., and Beijing Industrial Development Investment Management Co., Ltd. Semiconductor Manufacturing International Corporation stated that the purpose of this transaction is to optimize governance structure through the full ownership of North China , enhance decision-making and operational efficiency, and inherit quality profitable assets to enhance the overall performance of the listed company. As a leading domestic 12-inch integrated circuit wafer foundry platform, North China focuses on mature processes, has a stable operation, and has strong profitability. After the transaction is completed, Semiconductor Manufacturing International Corporation will directly enjoy 100% of the operating results of North China , and it is expected that the net profit attributable to the parent company's shareholders and basic earnings per share will increase.