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TSMC plans to halt chip supplies to Huawei in 2 months

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Old 17-07-2020, 12:23 PM   #16
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https://www.ft.com/content/6a87d390-...9-c99f3b94294c

SMIC scores mainland China’s biggest listing in a decade
Shares in chipmaker pop 246% after Beijing pushes investors to back drive to become self-sufficient.

Shares in SMIC popped 246 per cent in the first day of trading, as the Chinese chipmaker entered the ranks of country’s most valuable publicly listed companies following a secondary listing in Shanghai.

SMIC, a company at the heart of Beijing’s drive to become more self-sufficient in chipmaking, had already raised Rmb53.2bn ($7.6bn) in share sales ahead of the listing, the most of any mainland Chinese offering in a decade.

Shares began trading at Rmb95, up sharply from the offer price of Rmb27.46, and closed at Rmb82.92.

Half of its shares were initially sold to 4.3m retail investors. But even more were clamouring to get in when trading opened.

The listing attracted a wide range of retail investors such as Zhou Ziqing, a 27-year-old who works in the PR department of a law firm and put aside Rmb100,000 ($14,310) to buy shares. “I was born ready for this day,” she said.

Ms Zhou was confident that SMIC, as one of China’s national champions, would be a safe bet. “SMIC is China’s best chipmaker and the industry enjoys a lot of policy support,” she noted, adding she would hang on to at least half the shares she plans to buy for the long term.

A senior official at the Shanghai stock exchange noted that the government plans to use its domestic capital markets to raise money towards China’s goal of technological self-sufficiency. “SMIC is benefiting from US-China tensions,” the official said, adding: “We hope to compete with Nasdaq for Chinese tech companies.”

As well as China’s government funds, Singapore’s sovereign wealth fund and the Abu Dhabi Investment Authority are among the institutions backing the IPO.

SMIC’s first week of trading is likely to be dramatic. The Shanghai Star board is the only exchange on the mainland with no limit on stock price movements in the first five days, after which there is a 20 per cent up-or-down limit, compared to 10 per cent elsewhere.

The company acknowledges that it is charging a high price, compared to its peers. At its target price of Rmb27.46, SMIC’s valuation was 113 times last year’s earnings. By the company’s own reckoning, that is at least four times higher than its domestic rivals. TSMC, the Taiwanese industry leader, trades at 27 times earnings.
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Old 17-07-2020, 12:24 PM   #17
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ask tiong what is freedom in their context.
ccp ish the most kind n caring country in the world. sho strong n sho much freedom. everybody sho rich n happy.
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Old 17-07-2020, 12:25 PM   #18
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The US already watching the tiong closely years back. 听其言,观其行。Thank goodness trump is mad enough to take action.
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Old 17-07-2020, 12:26 PM   #19
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ask tiong what is freedom in their context.
China has always been the land of the free, called the land of the free and the greatest country in the world.

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Old 17-07-2020, 12:27 PM   #20
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no potato chips, can eat cheerios
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Old 17-07-2020, 12:27 PM   #21
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US makes laws to restrict other countries growth.
So strong so freedom.

Majority of TSMC shareholders US.

What to do

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Old 17-07-2020, 12:27 PM   #22
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Chip wars Sia.
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Old 17-07-2020, 12:27 PM   #23
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Just close down Huawei and reopen as Huawee .. Different coy already
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Old 17-07-2020, 12:28 PM   #24
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In before triggered tiongs ib
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Old 17-07-2020, 12:30 PM   #25
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Omg this is first time I hear SG sovereign fund investment in profit.

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Old 17-07-2020, 12:30 PM   #26
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in b4 the more you hurt tiongs the more advanced tiongs become.



lolol.
Already proven in Google Vs Huawei
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Old 17-07-2020, 12:30 PM   #27
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China has always been the land of the free, called the land of the free and the greatest country in the world.

lust time is 世界大同
Now ish Simi 人类共荣圈共同体
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Old 17-07-2020, 12:30 PM   #28
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China talked until got dragon got tiger but they still behind the curve.

SILICON | Can China make chips?

https://technode.com/2019/12/04/sili...na-make-chips/
Tiongs can copy very well but cant improve or refine very well....copying also up to certain standard, can't copy the complex technical specs....if they can, they would have made it in their own...
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Old 17-07-2020, 12:31 PM   #29
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In before triggered tiongs ib
They got so many fronts to fight. Seem like the whole world is against them.

Wuhan virus
South China Sea.
Hong Kong issue.
Huawei
Tik Tok
ZTE
WHO
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Old 17-07-2020, 12:31 PM   #30
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Just close down Huawei and reopen as Huawee .. Different coy already
滑滑 more better
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