On the evening of November 13, SMIC disclosed its financial data for the third quarter of 2025.
The report showed that the company's revenue in the first three quarters was approximately 49.51 billion yuan, an increase of 18.2% year-over-year; the net profit attributable to shareholders of listed companies was approximately 3.818 billion yuan, a significant increase of 41.1% year-over-year; and the gross margin was 23.2%, up 5.6 percentage points year-over-year.
Looking specifically at the third quarter, SMIC's revenue was 17.162 billion yuan, an increase of 6.9% compared to the previous quarter; it achieved a net profit of 1.517 billion yuan, an increase of 43.1% year-over-year; the gross margin was 25.5%, up 4.8 percentage points from the previous quarter; and the capacity utilization rate rose to 95.8%, an increase of 3.3 percentage points from the previous quarter.
SMIC explained that the growth in net profit and gross margin was "mainly due to an increase in wafer sales and changes in product mix,"
From the data, it is not difficult to see that compared to the second-quarter report, SMIC's profitability in the third quarter has significantly improved. The second-quarter report showed that the company achieved total sales revenue of 2.209 billion U.S. dollars, an increase of 16.2% year-over-year, but the net profit decreased instead of increasing, reaching 132 million U.S. dollars, a decrease of 19.5% year-over-year.
On the other hand, SMIC's capacity utilization further increased, rising from 92.5% in the second quarter to 95.8%, with monthly capacity exceeding one million pieces (equivalent to eight-inch wafers), and the factories are operating nearly at full capacity.
In the third-quarter report, SMIC provided performance guidance for the fourth quarter of 2025, expecting that in the fourth quarter, the company's revenue would remain flat or increase by 2% compared to the previous quarter, with a gross margin between 18% and 20%.
On November 13, SMIC's A-share stock rose 2.9%, closing at 123.1 yuan per share, while the H-shares closed up 3.21%, at 75.6 Hong Kong dollars per share, with a total market value reaching 984.8 billion yuan.
This article is an exclusive article by Observer, and without authorization, it shall not be reprinted.
Original: https://www.toutiao.com/article/7572202461193060905/
Statement: This article represents the views of the author. Welcome to express your attitude through the [up/down] buttons below.