Morningstar: Chinese chip manufacturers benefit from domestic demand.

Morningstar research report indicates that Chinese chip manufacturers are benefiting more than expected from localization demand. The market is not as concerned about the damage to these companies' annual performance expectations due to U.S. tariffs, and at the same time, early shipments before higher tariffs take effect have also benefited these companies in the second quarter. Both SMIC and Huahong Semiconductor have a more optimistic outlook on both short-term and long-term prospects compared to their global peers.