China's major semiconductor manufacturers, SMIC and Hua Hong Semiconductor, forecast sales growth in the second quarter, driven by surging AI demand and a memory chip shortage. They hope recent meetings could ease US export restrictions.

China’s leading semiconductor foundries, Semiconductor Manufacturing International Corporation (SMIC) and Hua Hong Semiconductor, expect their second-quarter sales to rise amid a dynamic global market defined by surging artificial intelligence demand and a memory supply crunch, while Hua Hong said it hopes this week’s Xi-Trump meetings could help relax US export controls. SMIC expected its second-quarter revenue to range between US$2.86 billion and US$2.91 billion, up from US$2.51 billion in the...