BlockBeats News, August 14th, Goldman Sachs published a report stating that SMIC's second-quarter revenue was $3 billion, a year-on-year increase of 36% and a quarterly increase of 20%, exceeding both the bank's and the market's expectations, and also surpassing management's guidance of a quarterly growth of 14% to 16%. The gross margin for the quarter was 25.3%, higher than the bank's and market's expected 21% and 21.4%, and also higher than the management's guided range of 20% to 22%.Goldman Sachs stated that the quarterly revenue growth was mainly driven by wafer shipment volume and the increase in average selling price. Management attributed the improvement in gross margin to the enhancement of the product mix and the rise in average selling price. As for the third-quarter guidance, revenue is expected to increase by 2% to 4% from the previous quarter, in line with both the bank's and the market's expectations; the gross margin guidance is 26% to 28%, exceeding the expectations of both the bank and the market.The bank maintained a buy rating on SMIC, expressing a positive view on the company's long-term growth prospects, believing that growth is being driven by increased demand from local fabless semiconductor customers and opportunities in artificial intelligence. Goldman Sachs gave a Hong Kong stock price target of HK$135. (Jinse)