Shares in Semiconductor Manufacturing International Corp. (SMIC), the world’s third-largest chipmaker by revenue, are up over 75% for the year so far, making it one of the best performing stocks on the benchmark Hang Seng Index.
SMIC is mainland China’s equivalent to Taiwan Semiconductor Manufacturing Co., the world’s largest contract chip manufacturer and a supplier to giants like Apple and Nvidia. Founded in 2000, SMIC has become the center of Beijing’s drive to build its own domestic chip industry.
