SEMICONDUCTOR MANUFACTURING INTERNATIONAL CORPORATION

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U.S. still undecided on further restricting China's SMIC -sources

12/16/2021 | 09:47pm EDT
A logo of Semiconductor Manufacturing International Corporation (SMIC) is seen at China International Semiconductor Expo (IC China 2020) following the coronavirus disease (COVID-19) outbreak in Shanghai

WASHINGTON, Dec 16 (Reuters) - The Biden administration still has not decided whether to block more sales of U.S. technology to Chinese chipmaker SMIC, but raised the possibility of discussing with allies further restrictions on selling chip-making equipment to China, sources familiar with a Thursday meeting on the topic said.

Officials at the meeting of deputies from various U.S. agencies talked about a proposal to toughen sales to SMIC and other chipmakers in China, the sources said. The officials appeared to agree that the U.S. should work with friendly countries on a more restrictive policy, one source said.

A spokesperson for the White House declined to comment.

The Trump administration placed Semiconductor Manufacturing International Corp (SMIC) on the U.S. Department of Commerce's trade blacklist late last year over concerns of SMIC's aiding China's military.

The listing, which requires U.S. suppliers to obtain a license before shipping chipmaking equipment and other goods, allows most sales to be decided on a case-by-case basis. However, equipment that can be used to make only the most advanced, 10-nanometer and smaller chips is held to a higher standard and is likely to be denied.

The policy change being considered would restrict sales of items that could also be used for less advanced chips.

However, chip equipment makers argue that if SMIC is not supplied by U.S. equipment makers, the company will buy from other countries.

Reuters has reported that export license requests for SMIC were already slow to get approval. (Reporting by Karen Freifeld; Editing by Christopher Cushing, Chris Sanders and Leslie Adler)


© Reuters 2021
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Financials (USD)
Sales 2022 7 329 M - -
Net income 2022 1 873 M - -
Net cash 2022 689 M - -
P/E ratio 2022 9,03x
Yield 2022 -
Capitalization 16 406 M 16 406 M -
EV / Sales 2022 2,14x
EV / Sales 2023 1,99x
Nbr of Employees 17 681
Free-Float 84,8%
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Last Close Price 2,07 $
Average target price 2,94 $
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Hai Jun Zhao Co-Chief Executive Officer & Executive Director
Meng Song Liang Co-Chief Executive Officer
Yong Gang Gao Chairman, CFO & Executive VP
Mei Sheng Zhou Executive VP-Technology Research & Development
Xin Zhang Senior Vice President-Operations & Engineering
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