Hong Kong, Feb 2, 2026, 07:51 HKT — Premarket
- Shares slipped in the final session, keeping the stock on edge for new triggers.
- Investors are zeroing in on an imminent earnings report and a shareholder vote linked to a significant unit deal.
- Even a whisper of dilution, setbacks, or stricter approvals might sour sentiment.
Shares of Semiconductor Manufacturing International Corp (0981.HK) fell 2.39% to HK$75.40 on Friday. The stock fluctuated between HK$74.50 and HK$77.00, with around 52.8 million shares changing hands.
The company is set to hold a board meeting on Feb. 10 to sign off on the release of its unaudited financial results for the quarter ending Dec. 31, according to a filing with The Stock Exchange of Hong Kong Limited.
On Feb. 12, just two days later, an extraordinary general meeting will take place in Shanghai. Shareholders are set to vote on a deal involving issuing shares to buy an asset.
Timing is crucial. Investors will first see updated demand and margin figures, followed by a capital-markets move that could significantly alter the group and its share count.
A circular revealed the company intends to acquire the remaining 49% stake in Semiconductor Manufacturing North China (Beijing) Corporation for RMB40.60 billion. The payment will be made by issuing roughly 547.2 million (547,182,073) new Shanghai-listed “RMB shares” — mainland A shares traded in yuan — priced at RMB74.20 each. According to the circular, independent financial adviser Rainbow Capital (HK) Limited judged the terms to be “fair and reasonable.” HKEX News
The register of members will be shut from Feb. 9 through Feb. 12. To vote, investors must submit transfers of Hong Kong shares to Computershare Hong Kong Investor Services Limited by 4:30 p.m. on Feb. 6, the company announced.
The deal has been circulating for weeks. In late December, SMIC announced it would acquire full control of its SMNC unit in a 40.6 billion yuan ($5.79 billion) deal, financed by issuing new A shares to five SMNC shareholders, including the state-backed National Integrated Circuit Industry Investment Fund.
Chinese chip stocks in Hong Kong have been active lately. Last week, Montage Technology and Axera Semiconductor kicked off share offerings targeting a total of HK$10 billion ($1.28 billion), Reuters reported. This move highlights the strong investor interest in China’s semiconductor supply chain.
The SMIC vote isn’t a done deal. Issuing new shares risks diluting current investors, and the schedule depends on several hurdles—regulatory approvals and finalizing the paperwork for the mainland-listed shares among them.
Traders are eyeing the Feb. 10 report for clues on whether demand is easing in the company’s core foundry segment, and to see if management signals any shifts in spending plans.
Next on the calendar: the results drop on Feb. 10, followed by the shareholder vote two days later on Feb. 12. Don’t forget the Feb. 6 deadline for share transfers—that’s the first key date coming up.
