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☆ China says it plans to boost these industries. Stocks to play the trend
▼ + stars: | 2024-03-10 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

"MS' Economics team believes that the announced fiscal package is insufficient to boost the economy as fiscal package remains supply-centric," Wang said. "Policy support for developing advanced production capacity will lead to increased capex in associated value chains like the industrials and IT sectors," the HSBC analysts said. All four stocks are listed in Shenzhen: Inovance — as a seller of factory automation components, Inovance should "benefit from the recovery of the discrete automation market in 2024," the HSBC analysts said. The HSBC analysts expect Innolight to increase its sales of its most advanced product, and introduce an even better product in the fourth quarter. Sanqi Entertainment — HSBC analysts expect this gaming stock can nearly double to 36 yuan a share.

Persons: Steven Sun, Wu Qing, Morgan Stanley, Laura Wang, Wang, Xi Jinping, Michael Bloom Organizations: Beijing, Authorities, HSBC, Finance, Information, Inovance, Naura Tech, Sanqi Entertainment — HSBC Locations: China, HSBC China, Shanghai, Beijing, Chongqing —, Shenzhen

☆ Chinese stocks are trying to rebound. This is the trade to watch to know if the turnaround is for real
▼ + stars: | 2024-02-11 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Mainland Chinese stocks are trying to rebound from five-year lows and it's starting to look like Beijing is willing to take some action. "My question is, would a recovery in [the] Chinese economy and the stock market be the end to that multi-year rally in Chinese bonds?" If Chinese bond yields started to climb, that would likely indicate investors were rotating out, Papic pointed out. Mainland Chinese stock markets are closed and don't re-open until Monday, Feb. 19. They expect if sentiment remains weak, foreign capital still has scope to sell out of mainland Chinese and Hong Kong stocks.

Persons: Clocktower, Marko Papic, Xi Jinping, Papic, Nomura, Yi Huiman, Wu Qing, — CNBC's Michael Bloom Organizations: Bloomberg, U.S ., Shanghai Stock Exchange, Eurasia Group, Hong, UBS, Naura Technology Locations: Beijing, Shanghai, China, U.S, Hong Kong, Eurasia, Shenzhen, Sungrow

☆ China's chip equipment firms see revenue surge as Beijing seeks semiconductor self-reliance
▼ + stars: | 2023-09-28 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

Washington has sought to use export restrictions to cut off Beijing from key semiconductor equipment and technologies. China's domestic semiconductor industry has previously heavily relied on foreign companies for these tools, leaving Beijing's industry behind the likes of the U.S., South Korea and Taiwan. That has underpinned the boost in revenues for China's domestic chip equipment manufacturing firms. CINNO names Naura Technology Group Co. as the top Chinese semiconductor equipment maker by revenue. The second-largest Chinese domestic player is Advanced Micro-Fabrication Equipment Inc. China (AMEC), which makes machines required for the semiconductor manufacturing process.

Persons: Florence Lo, CINNO Organizations: Reuters Revenue, Semiconductors, U.S, Huawei, China's, Naura Technology, Inc . China Locations: China, Beijing, Shanghai, China . Washington, U.S, South Korea, Taiwan

As Japan and the United States place fresh curbs on Chinese technology firms, local investors are scooping up shares of those firms and state companies, and reaping handsome rewards. New fund launches will potentially channel money into China's technology and chipmaking leaders, including ZTE Corp (000063.SZ), Unisplendour Co (000938.SZ), Montage and Cambricon Technologies (688256.SS). Cutting-edge innovation requires huge and long-term investment, which is beyond the ability of private companies, "but SOEs can do it," Yang said. For example, China's chipmaking sector is now trading at 60 times earnings, compared with 16 for the broad market. But "China needs high valuation in some sectors ... Why don't you put down your wager, while also supporting the country's development?"

☆ Factbox: Chinese chipmaking equipment manufacturers filling void left by U.S. export restrictions
▼ + stars: | 2023-03-06 | by ( ) www.reuters.com time to read: +5 min

Naura's most advanced etching machine supports 55 nm and 28 nm chipmaking technology, well behind the leading edge of chip manufacturing. The firm also makes deposition machines, which apply chemicals and gases to silicon wafers throughout the chipmaking process. It produces machines that can service the 14 nm to 28 nm process nodes of its deposition machines. ADVANCED MICRO-FABRICATION EQUIPMENT INC CHINA (AMEC) (688012.SS)AMEC makes etching equipment used to remove excess material from the surface of silicon wafers. BEIJING E-TOWN SEMICONDUCTOR TECHNOLOGY CO LTD (BEST)BEST produces degumming equipment used to remove photoresist chemicals during the lithography process.

A combination of targeted subsidies and local demand will help. China's dependence on foreign suppliers for lithography machines, used to print patterns onto silicon wafers, light-resistant wafer coatings known as photoresists and other vital tools cannot be understated. A 2021 report found that Chinese chipmakers buy less than a fifth of their equipment by value from local suppliers and that the country has localised less than 8% of annual equipment demand. China's equipment specialists, such as little-known firms NAURA Technology Group (002371.SZ) and Advanced Micro-Fabrication Equipment (688012.SS), are probably too small to effectively absorb massive amounts of government funding anyway. The majority of the funds will be used to subsidise the purchase of domestic semiconductor equipment by Chinese chipmakers.

☆ China tech shares sink as U.S. export curbs raise chip sector hurdles
▼ + stars: | 2022-10-10 | by ( ) www.reuters.com time to read: +7 min

The most immediate impact is likely to be felt by Chinese chipmakers, they said. The new regulations will now pose major hurdles for the two Chinese memory chipmakers, analysts said. A steep decline in tech shares led China's market down on its first post-Golden Week holiday trading on Monday. An index measuring China's semiconductor firms (.CSIH30184) tumbled nearly 7%, and Shanghai's tech-focused board STAR Market (.STAR50) declined 4.5%. SMIC dropped 4%, chip equipment maker NAURA Technology Group Co (002371.SZ) sank 10% by the daily limit, and Hua Hong Semiconductor plunged 9.5%.

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