Taiwan Tech Focused Senior Analyst

Patrick Liao

Being invited, I joined Sellside, i.e. JPMorgan, Nomura and Macquarie, totally around 9-10 years. Before that, I joined International Data Corp (https://www.idc.com/) to be the Asia Semiconductor analyst for nearly 2 years, and being invited to do personal lectures in TSMC, UMC, Samsung and etc. In my working experiences, I also had the chance to join Taiwanese panel company, AUO (2409.TT) and the buyside, Chinalife (2823.TT), totally for over 1 year.
I obtained MS degree from the Tsing-Hua University. Then I worked in the Taiwan Semiconductor companies for around 11 years. I had several US patents during my stay in the Semiconductor industry.

Being worked in the sellside and buyside, I deeply dived in the Greater China Semiconductor industry and directly covered some companies, like TSMC (2330.TT, TSM.US), UMC (2303.TT, UMC.US), Vanguard (5347.TT), ASE (3711.TT, ASX.US), SPIL (merged with ASE and delisted), KYEC ( 2449.TT), JCET (600584.CH), ASMPT (522.HK), GWC (6488.TT), WinSemi (3105.TT), Mediatek (2454.TT), Silergy (6415.TT), Novatek (3034.TT), Guoxin Micro (002049.CH) etc.

SMIC (981.HK): Revenue Growth Decelerated in 4Q24, and Growth Momentum to Be Regained in 1Q25.

SMIC (981.HK): Speculation About the Deepseek Rumor Does Imply Continued Creative Works in the World

Equity Bottom-Up

Semiconductor Manufacturing International Corp (SMIC) / Equity Bottom-Up

Semiconductor Manufacturing International Corp (SMIC) (981 HK)

Semiconductor Manufacturing International Corp (SMIC)

<ul>
<li>
<a href="https://www.smartkarma.com/entities/semiconductor-manufacturing-international-corp-smic" target="_blank" data-smartkarma-citation="entities:14231:1" rel="noopener">Semiconductor Manufacturing International Corp (SMIC) (981 HK)</a>'s 1Q25 results were in line, while the 2Q25 guidance appears somewhat cautious.  </li>
<li>The Americas continued to contribute a low-teens percentage to revenue, accounting for 12.6%, while China and Eurasia made up the remaining majority.  </li>
<li>
<a href="https://www.smartkarma.com/entities/semiconductor-manufacturing-international-corp-smic" target="_blank" data-smartkarma-citation="entities:14231:1" rel="noopener">Semiconductor Manufacturing International Corp (SMIC) (981 HK)</a>’s top priority remains its strategic focus on core business and near-term execution.</li>
</ul>



Semiconductor Manufacturing International Corp (SMIC) (981 HK)'s 1Q25 results were in line, while the 2Q25 guidance appears somewhat cautious.  
The Americas continued to contribute a low-teens percentage to revenue, accounting for 12.6%, while China and Eurasia made up the remaining majority.  

Semiconductor Manufacturing International Corp (SMIC) (981 HK)’s top priority remains its strategic focus on core business and near-term execution.


Taiwan Semiconductor (TSMC) - ADR (TSM US)

SMIC (981.HK): 2Q25 Guidance Shows A -5% in Revenue. Could This Reflect the Impact of US Tariffs?