➀ The U.S. plans to add Chinese chipmakers like CXMT and SMIC subsidiaries to its export blacklist, citing national security concerns;

➁ A temporary U.S.-China trade deal may delay the move, but tensions persist over technology and military ties;

➂ CXMT, China's first DDR5 memory producer, faces escalating restrictions amid global semiconductor rivalry.

➀ SMIC announced a new investment of 7.5 billion US dollars (about 54.4 billion RMB) to expand production, aiming to challenge the global chip industry's status quo.

➁ The funds will be used for capacity expansion in mature processes like 28nm, technology breakthroughs in advanced processes below 7nm, and enhancing the domestic semiconductor industry's self-sufficiency.

➂ SMIC's goal is to not only become a second TSMC but to create an independent semiconductor supply chain free from US dependence.

➀ SMIC reported a net profit of 135 million yuan in 2024, turning a loss into profit;

➁ The company's operating revenue reached 9.11 billion yuan, a year-on-year increase of 27.72%;

➂ The main reasons for the revenue growth and profit turnaround include increased demand for integrated circuits, continuous R&D investment, and improved product competitiveness.

➀ The author discusses the establishment of the third phase of the major fund and its potential impact on the investment direction.

➁ The author mentions the recent low profile of Liang Mengsong, the co-CEO of SMIC, and reflects on the article he wrote about Liang.

➂ The author predicts that under extreme circumstances, Apple, Intel, and Qualcomm may be the first to fall, with Intel already struggling.

➃ The author highlights the changes in the mobile chip market in 2024, with Mediatek, Qualcomm, Apple, and Unisoc's Zhujin taking the fourth place.

➄ The author reflects on the challenges faced by SMIC and its founder Zhang Yujing, and the potential of SMIC under the leadership of Liang Mengsong.

➅ The author discusses the technological advancements in the chip industry and the importance of domestic demand in China.

➆ The author analyzes the strategy of SMIC and its ambition to achieve advanced manufacturing capabilities.

➀ SMIC's A-share stock surged, hitting a historical high of 105 yuan at one point during the morning trading session on October 21, with a closing price of 97.48 yuan, up 8.14% from the previous day, marking another historical high.

➁ The stock's year-to-date increase is 70.72%, outperforming the 12.10% rise in the Shanghai-Hong Kong Stock Connect Index.

➂ The rise in SMIC's stock is seen as a sign of the A-share semiconductor market's strength. Analyst Mo Wenyu from XinDa Securities attributes the rise to the strong sci-tech nature of the semiconductor industry and its role as an important part of new quality productivity. The recovery trend in the semiconductor industry is becoming clearer with continuous policy support from the government, presenting long-term investment opportunities.