Investment Value Analysis of SMIC Based on The CAPM Model
DOI:
https://doi.org/10.54097/nfc15251Keywords:
SMIC; Investment Value; CAPM Model; Semiconductor Industry; Sharpe Ratio.Abstract
Amidst the global semiconductor landscape and China's strategy for technological independence, SMIC, as a leading wafer foundry in mainland China, has attracted attention. This article analyzes its investment value using the CAPM model and financial data. The findings indicate that its revenue has continued to grow over the past two years, while net profit initially declined and then rebounded. Its Sharpe ratio of 6.81 demonstrates high value for money. However, its risk assessment is limited in scope and lacks analysis of value drivers. Future work will expand the risk assessment framework to quantify the impact of external demand. Its development also benefits from market demand, domestic substitution, and policy support for AI.
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