SMIC vs China Molybdenum: why the prices moved differently

Weekly · monthly · quarterly news summaries, side by side in time

SMIC (0981-OL.HK)

Q3 202621 Jul – 14 Aug 2026

▲4

SMIC Q2 profit surges on AI demand; domestic lithography offers supply hedge

Q2 profit jumps 262% on AI chip demand SMIC's Q2 revenue topped $3 billion, up 36% year on year, and net profit surged 262% to $479 million. Factories ran at 93.7% of capacity, and Q3 guidance points to further growth. Strong earnings and demand for AI-related chips support the stock.
This is the core new financial result that directly drives investor confidence and the stock's value.
China mass-produces domestic DUV lithography tools China began mass-producing home-grown immersion DUV lithography machines, with SMIC named as a leading recipient. This gives SMIC an alternative source of critical chipmaking equipment if Western export restrictions tighten, reducing a key supply risk.
It addresses a major supply-chain vulnerability and could lower SMIC's long-term production risk.
Top fund managers add SMIC in Q2 Star fund manager Zhang Kun added SMIC to his top ten holdings for the first time in Q2, as major funds shifted from consumer staples like baijiu into tech. This signals rising institutional demand for SMIC shares, which can support the price.
It shows a concrete shift in institutional money toward SMIC, a new demand driver for the stock.
PBOC injects 1 trillion yuan, boosting tech sentiment The People's Bank of China will inject 1 trillion yuan via a six-month reverse repo, adding liquidity to the financial system. Combined with CXMT's market value surpassing Tencent, this lifts sentiment for Chinese chip stocks, including SMIC.
It reflects a supportive monetary backdrop and sector enthusiasm that can lift SMIC's valuation.

August 202621 Jul – 14 Aug 2026

▲4

SMIC Q2 profit surges on AI demand; domestic lithography offers supply hedge

Q2 profit jumps 262% on AI chip demand SMIC's Q2 revenue topped $3 billion, up 36% year on year, and net profit surged 262% to $479 million. Factories ran at 93.7% of capacity, and Q3 guidance points to further growth. Strong earnings and demand for AI-related chips support the stock.
This is the core new financial result that directly drives investor confidence and the stock's value.
China mass-produces domestic DUV lithography tools China began mass-producing home-grown immersion DUV lithography machines, with SMIC named as a leading recipient. This gives SMIC an alternative source of critical chipmaking equipment if Western export restrictions tighten, reducing a key supply risk.
It addresses a major supply-chain vulnerability and could lower SMIC's long-term production risk.
Top fund managers add SMIC in Q2 Star fund manager Zhang Kun added SMIC to his top ten holdings for the first time in Q2, as major funds shifted from consumer staples like baijiu into tech. This signals rising institutional demand for SMIC shares, which can support the price.
It shows a concrete shift in institutional money toward SMIC, a new demand driver for the stock.
PBOC injects 1 trillion yuan, boosting tech sentiment The People's Bank of China will inject 1 trillion yuan via a six-month reverse repo, adding liquidity to the financial system. Combined with CXMT's market value surpassing Tencent, this lifts sentiment for Chinese chip stocks, including SMIC.
It reflects a supportive monetary backdrop and sector enthusiasm that can lift SMIC's valuation.

Latest21 Jul – 14 Aug 2026

▲4

SMIC Q2 profit surges on AI demand; domestic lithography offers supply hedge

Q2 profit jumps 262% on AI chip demand SMIC's Q2 revenue topped $3 billion, up 36% year on year, and net profit surged 262% to $479 million. Factories ran at 93.7% of capacity, and Q3 guidance points to further growth. Strong earnings and demand for AI-related chips support the stock.
This is the core new financial result that directly drives investor confidence and the stock's value.
China mass-produces domestic DUV lithography tools China began mass-producing home-grown immersion DUV lithography machines, with SMIC named as a leading recipient. This gives SMIC an alternative source of critical chipmaking equipment if Western export restrictions tighten, reducing a key supply risk.
It addresses a major supply-chain vulnerability and could lower SMIC's long-term production risk.
Top fund managers add SMIC in Q2 Star fund manager Zhang Kun added SMIC to his top ten holdings for the first time in Q2, as major funds shifted from consumer staples like baijiu into tech. This signals rising institutional demand for SMIC shares, which can support the price.
It shows a concrete shift in institutional money toward SMIC, a new demand driver for the stock.
PBOC injects 1 trillion yuan, boosting tech sentiment The People's Bank of China will inject 1 trillion yuan via a six-month reverse repo, adding liquidity to the financial system. Combined with CXMT's market value surpassing Tencent, this lifts sentiment for Chinese chip stocks, including SMIC.
It reflects a supportive monetary backdrop and sector enthusiasm that can lift SMIC's valuation.

China Molybdenum Co Ltd Class A (603993.CG)

Q3 20263 Jul – 20 Aug 2026

▲2▼1

CMOC profit surges on higher copper, moly, tungsten prices and gold deal

First-half profit jumps 86% on higher metal prices and volumes CMOC's first-half net profit rose 86.3% to 16.15 billion yuan, with revenue up 42.8%. The gain came from selling more copper and getting higher prices for copper, molybdenum and tungsten, plus adding Brazilian gold mines. Strong earnings and cash flow support the stock price.
This is the core new financial result showing why the company is fundamentally more valuable.
Raises sales caps to CATL, signaling strong battery-metal demand CMOC plans to raise annual sales caps to CATL Group to as much as $5 billion by 2028, and purchase caps from KFM to $14 billion. This points to growing demand for CMOC's copper and cobalt products, which supports future revenue and the stock price.
It shows a concrete new demand signal from a major customer, which affects future earnings.
DRC export ban lifts copper sentiment but has limited real impact The Democratic Republic of Congo banned copper and cobalt concentrate exports, sparking a rally in nonferrous stocks. CMOC says the ban barely affects it because it mostly sells refined copper and cobalt hydroxide, not raw concentrate. Still, the news lifted copper prices, which helps CMOC's revenue.
It explains a new supply-side event that moved the sector and could affect copper prices, a key driver for CMOC.
Halts tailings supply to tungsten joint venture, cutting revenue CMOC stopped supplying tailings to Luoyang Yulu, a joint venture that recovers tungsten. The shutdown cuts a small revenue stream and creates uncertainty, though the financial impact is limited. This is a minor negative for the stock.
It is a new operational setback that could slightly reduce earnings and adds regulatory risk.

July 20263 Jul – 20 Aug 2026

▲2▼1

CMOC profit surges on higher copper, moly, tungsten prices and gold deal

First-half profit jumps 86% on higher metal prices and volumes CMOC's first-half net profit rose 86.3% to 16.15 billion yuan, with revenue up 42.8%. The gain came from selling more copper and getting higher prices for copper, molybdenum and tungsten, plus adding Brazilian gold mines. Strong earnings and cash flow support the stock price.
This is the core new financial result showing why the company is fundamentally more valuable.
Raises sales caps to CATL, signaling strong battery-metal demand CMOC plans to raise annual sales caps to CATL Group to as much as $5 billion by 2028, and purchase caps from KFM to $14 billion. This points to growing demand for CMOC's copper and cobalt products, which supports future revenue and the stock price.
It shows a concrete new demand signal from a major customer, which affects future earnings.
DRC export ban lifts copper sentiment but has limited real impact The Democratic Republic of Congo banned copper and cobalt concentrate exports, sparking a rally in nonferrous stocks. CMOC says the ban barely affects it because it mostly sells refined copper and cobalt hydroxide, not raw concentrate. Still, the news lifted copper prices, which helps CMOC's revenue.
It explains a new supply-side event that moved the sector and could affect copper prices, a key driver for CMOC.
Halts tailings supply to tungsten joint venture, cutting revenue CMOC stopped supplying tailings to Luoyang Yulu, a joint venture that recovers tungsten. The shutdown cuts a small revenue stream and creates uncertainty, though the financial impact is limited. This is a minor negative for the stock.
It is a new operational setback that could slightly reduce earnings and adds regulatory risk.

Latest3 Jul – 20 Aug 2026

▲2▼1

CMOC profit surges on higher copper, moly, tungsten prices and gold deal

First-half profit jumps 86% on higher metal prices and volumes CMOC's first-half net profit rose 86.3% to 16.15 billion yuan, with revenue up 42.8%. The gain came from selling more copper and getting higher prices for copper, molybdenum and tungsten, plus adding Brazilian gold mines. Strong earnings and cash flow support the stock price.
This is the core new financial result showing why the company is fundamentally more valuable.
Raises sales caps to CATL, signaling strong battery-metal demand CMOC plans to raise annual sales caps to CATL Group to as much as $5 billion by 2028, and purchase caps from KFM to $14 billion. This points to growing demand for CMOC's copper and cobalt products, which supports future revenue and the stock price.
It shows a concrete new demand signal from a major customer, which affects future earnings.
DRC export ban lifts copper sentiment but has limited real impact The Democratic Republic of Congo banned copper and cobalt concentrate exports, sparking a rally in nonferrous stocks. CMOC says the ban barely affects it because it mostly sells refined copper and cobalt hydroxide, not raw concentrate. Still, the news lifted copper prices, which helps CMOC's revenue.
It explains a new supply-side event that moved the sector and could affect copper prices, a key driver for CMOC.
Halts tailings supply to tungsten joint venture, cutting revenue CMOC stopped supplying tailings to Luoyang Yulu, a joint venture that recovers tungsten. The shutdown cuts a small revenue stream and creates uncertainty, though the financial impact is limited. This is a minor negative for the stock.
It is a new operational setback that could slightly reduce earnings and adds regulatory risk.