Group 1: Market Overview - Northbound trading recorded a net buy of 0.85 billion HKD, with Shanghai Stock Connect contributing a net buy of 11.03 billion HKD and Shenzhen Stock Connect showing a net sell of 1.19 billion HKD [1] - The most bought stocks by northbound investors included Meituan-W (03690), CNOOC (00883), and SMIC (00981), while Tencent (00700) faced the highest net sell [1] Group 2: Individual Stock Performance - Meituan-W (03690) saw a net buy of 5.45 billion HKD, driven by its acquisition of Dingdong Maicai's China business for approximately 7.17 billion USD, indicating a significant shift in the domestic fresh food instant retail landscape [4][5] - CNOOC (00883) received a net buy of 4.2 billion HKD, supported by a report indicating a 3.5% week-on-week decline in US crude oil production due to cold weather, which is expected to influence oil prices [5] - SMIC (00981) had a net buy of 3.76 billion HKD, with a projected sales revenue of 2.489 billion USD for Q4 2025, reflecting a 4.5% quarter-on-quarter increase and a 16.2% year-on-year growth for the full year [5] - Longi Green Energy (06869) attracted a net buy of 2.87 billion HKD, as the bidding for a special optical cable procurement project by China Mobile has been completed, indicating a rising trend in optical fiber prices [5] - Xiaomi Group-W (01810) and Alibaba-W (09988) received net buys of 2.03 billion HKD and 1.6 billion HKD, respectively [8] - Tencent (00700) experienced a significant net sell of 14.02 billion HKD, indicating a bearish sentiment among investors [8] Group 3: Other Notable Stocks - Yueda Group (00772) gained a net buy of 1.63 billion HKD, with the CEO highlighting the increasing value of original content in the context of rapid AI development [6] - Fubo Group (03738) saw a net buy of 882 million HKD, benefiting from the global surge in AI video applications and copyright protection investments [7]

The Shanghai-based company reported a 61% rise in fourth-quarter net profit from a year earlier to $172.85 million, above the $139.5 million expected of analysts polled by FactSet. ...

证券之星消息，中芯国际近日即将发布2025年年报，根据2月10日发布的业绩快报，归属净利润盈利 50.407亿元，同比增长36.28%。 业绩快报公告中对经营业绩和财务状况情况的说明： （一）报告期的经营情况、财务状况及影响经营业绩的主要因素。 2025 年第四季度报告期内，公司实现营业收入人民币 17,812.8 百万元，较上年同期增长 11.9%；毛利 为人民币 3,095.9 百万元，毛利率为 17.4%。 2025 年度未经审计的营业收入为人民币 67,323.2 百万元，上年营业收入为人民币 57,795.6 百万元，同 比增加 16.5%。2025 年度未经审计的归属于上市公司股东的净利润为人民币 5,040.7 百万元，上年归属 于上市公司股东的净利润为人民币 3,698.7 百万元，同比增加 36.3%。2025 年度未经审计的归属于上市 公司股东的扣除非经常性损益的净利润为人民币 4,124.3 百万元，上年归属于上市公司股东的扣除非经 常性损益的净利润为人民币 2,645.4 百万元，同比增加 55.9%。2025 年度归属于上市公司股东的净利润 及归属于上市公司股东的扣除非经常性损益的净 ...

Summary of Key Points Core Viewpoint - The Hong Kong stock market experienced a net inflow of 0.85 billion HKD from northbound trading, with significant activity in specific stocks such as Meituan, CNOOC, and SMIC, while Tencent faced notable net selling [1][8]. Group 1: Stock Performance - Meituan-W (03690) had a net inflow of 5.45 billion HKD, driven by its acquisition of Dingdong Maicai's China business for approximately 7.17 billion USD, indicating a significant shift in the domestic fresh food retail landscape [4][5]. - CNOOC (00883) saw a net inflow of 4.2 billion HKD, supported by a report indicating a 3.5% week-on-week decline in U.S. crude oil production due to cold weather, which is expected to influence oil prices [5]. - SMIC (00981) recorded a net inflow of 3.76 billion HKD, with projected sales revenue of 2.489 billion USD for Q4 2025, reflecting a 4.5% quarter-on-quarter increase and a 16.2% year-on-year growth for the full year [5]. - Xiaomi Group-W (01810) and Alibaba-W (09988) received net inflows of 2.03 billion HKD and 1.6 billion HKD, respectively [8]. Group 2: Market Trends and Insights - The fiber optic cable market is experiencing a price increase, with Longi Fiber Optic (06869) receiving a net inflow of 2.87 billion HKD, as the procurement project by China Mobile for special fiber optic products has concluded [5]. - The AI sector is gaining traction, with companies like Yueda Group (00772) receiving a net inflow of 1.63 billion HKD, as the CEO emphasized the increasing value of original content in the context of rapid AI development [6]. - Fubo Group (03738) attracted a net inflow of 882 million HKD, benefiting from advancements in AI video generation technology, which is expected to enhance content protection investments [7].

2月10日，中芯国际（688981.SH）（00981.HK）发布2025Q4财报，公司四季度实现销售收入24.89亿美 元，环比增长4.5%，毛利率为19.2%，产能利用率保持在95.7%。 （来源：财闻） 2025年，半导体产业链向本土化切换带来的重组效应贯穿全年。根据未经审核的财务数据，2025年公司 销售收入为93.27亿美元，同比增长16.2%。毛利率为21.0%，同比上升3.0个百分点。2025年公司资本开 支为81.0亿美元。年底折合8英寸标准逻辑月产能为105.9万片，同比增加约11万片。出货总量约970万 片，年平均产能利用率为93.5%，同比提升8个百分点。 产业链回流的机遇与存储大周期带来的挑战并存，综合各因素，公司给出的一季度指引为：销售收入环 比持平，毛利率在18%-20%之间。 展望2026年，对中芯国际而言，产业链回流的机遇与存储大周期带来的挑战并存。综合各因素，公司给 出的一季度指引为：销售收入环比持平，毛利率在18%-20%之间。在外部环境无重大变化的前提下，公 司给出的2026年指引为：销售收入增幅高于可比同业的平均值，资本开支与2025年相比大致持平。 ...

Core Viewpoint - SMIC reported a total revenue of 17.81 billion RMB in Q4 2025, marking an 11.9% year-on-year increase, while net profit attributable to shareholders rose by 23.2% to 1.22 billion RMB [1][2] Financial Performance - Total revenue for Q4 2025 was 17.81 billion RMB, compared to 15.92 billion RMB in Q4 2024, reflecting an 11.9% increase [2] - Gross profit for Q4 2025 was 3.10 billion RMB, with a gross margin of 17.4% [1] - Total profit for Q4 2025 was 1.60 billion RMB, a decrease of 41.5% year-on-year [1][2] - Net profit attributable to shareholders was 1.22 billion RMB, up 23.2% from 992.47 million RMB in Q4 2024 [1][2] - Basic earnings per share increased by 25.0% to 0.15 RMB per share [2] Capacity and Production - The company achieved a capacity utilization rate of 95.7% in Q4 2025 [1] - Total sales revenue for 2025 reached 9.33 billion USD, a 16.2% increase year-on-year, with a gross margin of 21.0%, up 3.0 percentage points [1] - By the end of 2025, the monthly capacity for 8-inch standard logic was 1.059 million wafers, an increase of approximately 110,000 wafers year-on-year [1] Future Outlook - For Q1 2026, the company expects sales revenue to remain flat quarter-on-quarter, with a gross margin projected between 18% and 20% [2] - The company anticipates that the growth rate of sales revenue for 2026 will exceed the average of comparable peers, with capital expenditures expected to remain roughly the same as in 2025 [2]

新华财经北京2月10日电中芯国际10日晚间发布的2025年第四季度业绩快报显示，其2025年第四季度营 收为178.13亿元，同比增长11.9%；毛利为30.96亿元，毛利率为17.4%；净利润为12.23亿元，同比增长 23.2%；扣非后净利润为9.47亿元，同比增长112.4%。 2025年全年，中芯国际营收同比增加16.5%至673.23亿元，净利润同比增加36.3%至50.41亿元；扣非后 净利润同比增加55.9%至41.24亿元。 按照国际财务报告准则，中芯国际四季度实现销售收入24.89亿美元，环比增长4.5%，毛利率为19.2%， 产能利用率保持在95.7%。中芯国际称，2025年，半导体产业链向本土化切换带来的重组效应贯穿全 年。根据未经审核的财务数据，2025年公司销售收入为93.27亿美元，同比增长16.2%。毛利率为 21.0%，同比上升3.0个百分点。2025年公司资本开支为81.0亿美元。年底折合8英寸标准逻辑月产能为 105.9万片，同比增加约11万片。出货总量约970万片，年平均产能利用率为93.5%，同比提升8个百分 点。 中芯国际A股股价在2025年以来的27个交易日期间累计 ...

Core Viewpoint - SMIC anticipates both opportunities from the return of the supply chain and challenges from the storage cycle by 2026 [1] Financial Guidance - For Q1, the company projects sales revenue to remain flat quarter-over-quarter, with a gross margin between 18% and 20% [1] - In the absence of significant external changes, the 2026 guidance indicates that sales revenue growth will exceed the average of comparable peers, with capital expenditures expected to be roughly on par with 2025 [1]

2025年未经审核的全年本公司拥有人应占利润为6.85亿美元，相较于2024年全年本公司拥有人应占利润 4.93亿美元增加 39.1%，主要是由于本年晶圆销量增加、产能利用率上升及产品组合变动所致。 公司四季度实现销售收入24.89亿美元，环比增长4.5%，毛利率为19.2%，产能利用率保持在95.7%。 来源：智通财经网 中芯国际(00981)发布截至2025年12月31日止三个月第四季度未经审核业绩，公司取得收入24.89亿美 元，同比增长12.8%，环比增长4.5%;本公司拥有人应占利润1.73亿美元，同比增长60.7%，环比减少 9.9%;每股盈利0.02美元。 2025年，半导体产业链向本土化切换带来的重组效应贯穿全年。根据未经审核的财务数据，2025年公司 销售收入为93.27亿美元，同比增长16.2%。毛利率为21.0%，同比上升3.0个百分点。2025年公司资本开 支为81.0亿美元。年底折合8寸标准逻辑月产能为105.9万片，同比增加约11万片。出货总量约970万片， 年平均产能利用率为93.5%，同比提升8个百分点。 展望2026年，对中芯国际而言，产业链回流的机遇与存储大週期带来的挑战并 ...

公司四季度实现销售收入24.89亿美元，环比增长4.5%，毛利率为19.2%，产能利用率保持在95.7%。 2025年，半导体产业链向本土化切换带来的重组效应贯穿全年。根据未经审核的财务数据，2025年公司 销售收入为93.27亿美元，同比增长16.2%。毛利率为21.0%，同比上升3.0个百分点。2025年公司资本开 支为81.0亿美元。年底折合8寸标准逻辑月产能为105.9万片，同比增加约11万片。出货总量约970万片， 年平均产能利用率为93.5%，同比提升8个百分点。 展望2026年，对中芯国际而言，产业链回流的机遇与存储大週期带来的挑战并存。综合各因素，公司给 出的一季度指引为：销售收入环比持平，毛利率在18%-20%之间。在外部环境无重大变化的前提下，公 司给出的2026年指引为：销售收入增幅高于可比同业的平均值，资本开支与2025年相比大致持平。 智通财经APP讯，中芯国际(00981)发布截至2025年12月31日止三个月第四季度未经审核业绩，公司取得 收入24.89亿美元，同比增长12.8%，环比增长4.5%;本公司拥有人应占利润1.73亿美元，同比增长 60.7%，环比减少9.9%;每股盈 ...