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): Although GM May Decline Slightly, Revenue Is Expected to Continue Growing in 4Q25.

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

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

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

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> reported in-line 2Q25 results, while its 3Q25 guidance appears somewhat cautious, particularly in terms of gross margin.</li>
<li>The Americas continued to contribute a low-teens percentage to revenue, accounting for 12.9% in 2Q25, while China and Eurasia comprised the remaining majority.</li>
<li>Our top questions for the upcoming SMIC's 3Q25 earnings conference call.   </li>
</ul>



Semiconductor Manufacturing International Corp (SMIC) (981 HK) reported in-line 2Q25 results, while its 3Q25 guidance appears somewhat cautious, particularly in terms of gross margin.
The Americas continued to contribute a low-teens percentage to revenue, accounting for 12.9% in 2Q25, while China and Eurasia comprised the remaining majority.
Our top questions for the upcoming SMIC's 3Q25 earnings conference call.   


TSMC (Taiwan Semiconductor Manufacturing) - ADR (TSM US)

TSMC (Taiwan Semiconductor Manufacturing) - ADR

SMIC (981.HK): 2Q25 Results in Line; 3Q25 May Offer Mild Upside, but GM Is Expected to Be Flattish.