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Semiconductor Manufacturing International Corporation (SIUIF)

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Previous Close2.5800
Open2.5600
Bid0.0000 x 0
Ask0.0000 x 0
Day's Range2.5600 - 2.7081
52 Week Range2.1900 - 3.5850
Volume1,008,610
Avg. Volume417,871
Market Cap20.441B
Beta (5Y Monthly)0.98
PE Ratio (TTM)38.00
EPS (TTM)0.0700
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  • China Lawmakers Pass Export Control Law Protecting Tech
    Bloomberg

    China Lawmakers Pass Export Control Law Protecting Tech

    (Bloomberg) -- China passed a new law to restrict sensitive exports to protect national security, helping Beijing gain reciprocity against U.S. as tech tensions mount.The country’s top legislative body, the National People’s Congress Standing Committee, adopted the measure on Saturday that applies to all companies in China, including foreign-invested ones. The law will be effective Dec. 1.Souring ties between China and the U.S. had led Washington to take action against several Chinese companies including Huawei Technologies Co., ByteDance Ltd.’s TikTok app, Tencent Holdings Ltd.’s WeChat and Semiconductor Manufacturing International Corp. The new law provides a framework for Beijing to better fight back.While its existing control list is much narrower than the one used by the U.S., the country’s commerce ministry made an amendment in August that included technology such as algorithms and drones. The list could be further expanded to include even more products and technologies.The law stipulates export controls over items of both civilian and military use, military and nuclear products, as well as “goods, technologies and services” that are related to national security, including data related to them. Relevant government departments have been tasked to publish lists of controlled items.Under the law, China can take reciprocal measures if any country or regions abuse their export controls in ways that hurt its national security and interest.Violation of the new export control law will lead to fines of as much as five million yuan ($746,500) and revocation of export licenses. Breaches that jeopardize national security and interests will also face criminal charges, with organizations and individuals outside of China also punishable under the law.Whether Beijing will allow the export of valuable Chinese technology is one of the biggest uncertainties hovering over the partial sale of TikTok to Oracle Corp. and American investors. China in August asserted the right to block the deal by adding speech recognition and recommendation technology -- the core of TikTok’s global popularity -- to a list of regulated exports.(Updates with details of the new law from fifth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • 4 Semiconductor Stocks Making the Guts of Everything Electronic
    InvestorPlace

    4 Semiconductor Stocks Making the Guts of Everything Electronic

    Apple (NASDAQ:AAPL) had its minor moment in the media earlier this week as it presented more of its iPhones. The phones are finally catching up with bigger competitors such as Samsung Electronics (SSNLF,005930 Korea), Xiaomi (OTCMKTS:XIACY) and ZTE (OTCMKTS:ZTCOY) by containing transmission chips and software to operate on fifth-generation (5G) wireless standards. 5G is not really in the U.S. yet, but is increasingly in China and South Korea. But the company is at least trying to be relevant. Behind the glass and painted cases of modern phones are a host of semiconductors that the company had little to do with in creating or producing. Like for most of Apple products, they do the marketing — others do the work. But it is a good news peg to discuss the semiconductor chips that are so vital for the world’s electronic gadgets, as well as everything else from our cars to planes and even the refrigerator in your kitchen.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Everyone tends to focus on the big brand names in technology, not the companies that do the grunt work to make the guts of modern products. Hence companies like Apple get lots of headlines and companies that I am presenting to you include some that aren’t household names. They should be, though, if you are investing in more of the new-new things coming to the market. Founders Semiconductors, or chips, are firmly in the vernacular of technology investors. But I would argue that not many understand the process of getting from silicon to the finished product that makes a gadget work when you hit the power button. Foundries are extremely capital-intensive facilities that come with all sorts of massive barriers to entry. They need lots of space and can be highly environmentally disruptive, both in construction as well as in operation. And permits from governments, from national to local entities, can be very, very difficult to get. I remember many years ago in Shanghai, I was invited to an initial presentation by a coop led by Siemens (OTCMKTS:SIEGY) about a new fabrication plant that was getting built in south-central China. The project was supposed to get done in under a year — which seemed impossible anywhere beyond China. They took a small mountain and leveled it, making a clear building site with access to transportation of raw materials and finished chips. And then they built and finished it all ahead of schedule and the plant is still humming along today. This, of course, would never happen in the U.S. But that’s yet another great thing about China when it comes to business. 7 Dividend Stocks To Buy For Adventurous Investors  And China remains the go-to nation for foundries, along with some regional locations. And despite all of the bluster over competition – China and its regional partners are the go-to places for getting chips made from start to finish. Here are some of the companies that I would have you take a look at if you are interested in investing in what’s behind the brands of electronics that make it all happen. Samsung Electronics Taiwan Semiconductor (NYSE:TSM) Semiconductor Manufacturing International Corporation (OTCMKTS:SMICY) United Microelectronics Corporation (NYSE:UMC) Samsung Electronics Samsung Electronics is a Korea-based behemoth that has a great relationship with China and the region when it comes to manufacturing just about everything electronic. It is one of the globe’s leaders in foundries for chips. That in turn feeds its own needs for its own high-value-added products as well as supplying others. This company should be in any portfolio that wants to be exposed to the best of technology, including foundries. Source: Samsung Electronics Revenue – Source: Bloomberg Revenue for the company continues to expand year after year with the past decade showing gains averaging 7.51% on a compound annual growth rate basis (CAGR). Of course, foundries are just one business — along with batteries (including processing all sorts of very nasty chemicals to make them happen) as well as countless finished industrial and consumer products. But with nearly everything from soup to nuts in its operations, its operating margin is very impressive at 12.1%, demonstrating its cost controls and excellent management. This, in turn, drives an impressive return on shareholder’s equity of 7.5%. Dividends are getting better, running at a yield of 2.4%. And with lots and lots of cash and pretty much no real debt, the company is the best to start with in the chip business. Source: Samsung Electronics Total Return – Source: Bloomberg The shares in U.S. dollars have been a consistent performer with the past decade alone generating a return of 354.81% for an average annual equivalent return of 16.34%. One thing to note — you may have to call your broker for execution, and this may or may not incur a fee. Taiwan Semiconductor (TSM) Taiwan Semiconductor (TSM, 2330 Taipei) is a Chinese behemoth in the chips business headquartered in Hsinchu on the island of Formosa. Like for Samsung, Taiwan Semi provides a litany of chips and related products that generally are done under contract with a who’s-who in the electronics markets. It has massive foundries throughout China and its territories and works well with governments in its plant and foundry developments. And it in turn generally controls one of the largest percentages of chips made in any given year for customers around the globe. Revenue from its more focused product line on chips and components continues to rise. Over the past decades, the company has achieved revenue gains running at 12.56% on a CAGR basis. Source: Taiwan Semiconductor Revenue – Source: Bloomberg Its margin is much better than for the much more diverse Samsung, and is running currently at 34.8%. 9 Stocks to Buy for a Wild Ride in October And in turn, this drives a return on shareholder equity at a whopping 29.1%. Source: Taiwan Semiconductor Total Return – Source: Bloomberg The shares have returned 989.02% over the trailing decade for an annual equivalent return of 26.95% including a dividend yield of 2.2%. And with lots of cash and little debt, the company is set to continue to expand as needed. Semiconductor Manufacturing International Corporation (SMICY) Semiconductor Manufacturing International Corporation (SMICY, 981 Hong Kong) is also known as SMIC. It, too, has some of the leading foundries in China and does a great job of running them from its headquarters in Shanghai. Like for Taiwan Semi, SMIC does a lot of contract work — which makes for a broad play on chips and the overall demand for electronic goods. Source: SMIC Revenue – Source: Bloomberg Revenue has a long-term history of steady growth, with the average running at 10.43% on a CAGR basis. The company has a bit less cash on hand and a bit more debt — which can be more common for larger-scale Chinese companies. But at only 24.00% of assets, it is not an issue — nor should it limit growth, as it is well-supported by the government. Source: SMIC Total Return – Source: Bloomberg The stock has been plodding along for many years until the last two — but since then, it has returned 190.14%, for a quick average annual equivalent of 70.21%. It is also a cheaper stock like Samsung as its stock is valued at a low 2.07 times its intrinsic value (book). No dividend yield, but it does make for a value buy in the foundry space. United Microelectronics (UMC) United Microelectronics Corporation (UMC, 2303 Taipei) is more commonly known as UMC. And the company makes a variety of semiconductor chips and integrated circuit chips for a litany of companies, from consumer to industrials. It has major Chinese foundries and assembly facilities, and since its founding back in 1980, it has continued to earn contracts year in and year out from customers around the world. Source: UMC Revenue – Source: Bloomberg Revenue has been gaining at a bit more of a steady, if not subdued  level compared to its foundry peers. Gains average only at 2.71% on a CAGR basis. And margins are tighter than for its cross-town rival Taiwan Semi at a more subdued level of 3.2%. But with more cash and controlled debt, the company is still a go-to maker with ample government support. Source: UMC Total Return – Source: Bloomberg Shares have had a history of muted return until the past two years – but still have garnered some 250.39% for shareholders over the past five years. 7 Big Tech Stocks to Buy for Blockchain and Crypto Exposure And with a dividend yielding 2.50% and shares even cheaper at 1.83 times intrinsic value – closer to the absolute bargain of Samsung it does make for a value in the foundry market. On the date of publication, Neil George did not hold (either directly or indirectly) any positions in the securities mentioned in this article.  As the editor of Profitable Investing, Neil George helps long-term investors achieve their growth & income goals with less risk. With 30+ years of experience in the financial markets, Neil recommends undiscovered and underappreciated companies that offer subscribers double-digit yields now and triple-digit returns over time.   More From InvestorPlace Forget The Election… Pick These Stocks for the Win in 2021 Why Everyone Is Investing in 5G All WRONG America’s #1 Stock Picker Reveals His Next 1,000% Winner Revolutionary Tech Behind 5G Rollout Is Being Pioneered By This 1 Company The post 4 Semiconductor Stocks Making the Guts of Everything Electronic appeared first on InvestorPlace.

  • China Set to Pass Law Protecting Vital Tech From U.S.
    Bloomberg

    China Set to Pass Law Protecting Vital Tech From U.S.

    (Bloomberg) -- China is set to pass a new law that would restrict sensitive exports vital to national security, expanding its toolkit of policy options as competition grows with the U.S. over access to technologies that will drive the modern economy.China’s top legislative body, the National People’s Congress Standing Committee, is expected to adopt the measure in a session that concludes on Saturday. The Export Control Law primarily aims to protect China’s national security by regulating the export of sensitive materials and technologies that appear on a control list. It would apply to all companies in China, including foreign-invested ones.The measure would add to Beijing’s regulatory arsenal, which also includes a tech export restriction catalog and an unreliable entity list. The law would also help put China on a similar footing to the U.S., which regularly uses export controls and licenses strategically against its adversaries.Mounting tensions between China and the U.S. have spilled over into the realm of technology. Big Chinese companies including Huawei Technologies Co., ByteDance Ltd.’s TikTok, Tencent Holdings Ltd.’s WeChat and Semiconductor Manufacturing International Corp. find themselves in Washington’s cross-hairs.“Chinese authorities may have learned a lesson from the U.S. and other countries,” said Qing Ren, a partner at Global Law Office in Beijing.A report carried by official Xinhua News Agency said the draft law stipulates that China could take reciprocal measures against a certain country or region that has “abused export control measures and damaged China’s national security and interests.”The official Legal Daily reported on Thursday that some legislators had suggested source codes, algorithms and technical documents be added as controlled items, and that China should set up some restrictions on exporting technologies on which Beijing has a competitive edge, such as 5G and quantum communications.Whether Beijing will allow the export of valuable Chinese technology is one of the biggest uncertainties hovering over the partial sale of TikTok to Oracle Corp. and American investors. China in August asserted the right to block the deal by adding speech recognition and recommendation technology -- the core of TikTok’s global popularity -- to a list of regulated exports.How Blacklisting ‘Entities’ Became a Trade War Weapon: QuickTakeThe existing control lists are much narrower than the one used by the U.S., staying limited to materials that could be used for nuclear, chemical or biological weapons, Ren said. If it’s expanded in the future “then more products or technologies will be subject to export control in China,” he said.The Chinese Ministry of Commerce partially updated its export control list in August, putting cutting-edge technologies such as recommendation algorithms and drones under Beijing’s watch.While the U.S. is generally ahead of China in most spheres, China controls critical aspects of technology in industries from wireless networking to unmanned aerial vehicles.Tech HeadwayAmerican officials have warned that Huawei -- the leader in next-generation wireless patents -- controls a 10th of worldwide essential 5G patents, and its deep involvement in international standards-setting could post a threat to U.S. national security. The company ranked among the top 10 recipients of U.S. patents in 2019 -- helping China become the fourth-biggest recipient of American patents, behind Japan and South Korea but ahead of Germany for the first time.Chinese companies have also made headway in dominating certain niches. Shenzhen-based SZ DJI Technology Co. controls something like three-quarters of the global consumer drones market. Display maker BOE Technology Group is aggressively filing patents in its bid to get into next-generation OLED screens for smartphones.And in artificial intelligence, companies from Alibaba Group Holding Ltd. to Tencent and upstarts like SenseTime Group Ltd. are taking advantage of unparalleled reserves of data to advance in areas such as facial recognition.How Huawei Landed at the Center of Global Tech Tussle: QuickTakeWhen approved, China’s law will be applied extra-territorially, taking a page from the U.S. Export Administration Regulations’ long-arm jurisdiction that Beijing has frequently criticized. Foreign Ministry officials have repeatedly accused Washington of stretching and abusing the concept of national security in justifying actions against Chinese companies.China is the biggest exporting country in the world and overseas sales provide jobs for millions of people, so it will be careful not to abuse the law, said Mei Xinyu, a researcher at a research group under China’s Commerce Ministry. “We highly value China’s image as a reliable supplier in the international market,” Mei said. “So we wouldn’t expand the scope of export control at will.”China’s Ministry of Commerce first published a draft of the legislation in June 2017. It went through two reviews by the NPC in December 2019 and at the end of June. When the draft bill was introduced for its first review, Minister of Commerce Zhong Shan explained to the national legislature that export control is a mechanism aimed at “honoring international obligations such as nonproliferation and safeguarding national security and developmental interests.”But in a draft reviewed in June, national security was given higher priority.“Threats to national security could come from various fields, including the economic field,” said Cui Fan, a professor of international trade at the University of International Business and Economics. “But we can’t confuse normal competition between companies with threats to economic security and national interests.”Why Trump Is Threatening Your Teen’s Favorite App: QuickTakeThe latest version further clarifies the scope of controlled items and punishment measures for violations. Government departments overseeing export control should publish export control guidance in a timely manner, a spokesperson of the NPC’s legislative affairs commission said on Monday, without elaborating.Foreign companies need not fear the law since it applied equally to all companies operating in China, according to Ren from Global Law Office. Still, he said, foreign-invested companies should be careful if their activities involve the export of technologies.“Chinese employees maybe are not allowed to release the controlled technologies to their foreign colleagues,” Ren said. “This depends on the very specific circumstances of the each individual company. But it could happen.”(Updates with more detail on current control list in tenth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.