SMIC Q4 2025 Financial Presentation February 2026 Forward-Looking Statements This presentation may contain, in addition to historical information, forward-looking statements. These forward-looking statements are based on SMIC's current assumptions, expectations, beliefs, plans, objectives, and projections about future events or performance. SMIC uses words including but not limited to "believe", "anticipate", "intend", "estimate", "expect", "project", "target", "going forward", "continue", "ought to", "may" ...

Group 1 - The People's Bank of China (PBOC) released the "2025 Q4 China Monetary Policy Implementation Report," emphasizing the continuation of a moderately loose monetary policy to support economic governance and the "14th Five-Year Plan" [5][6] - The report highlights the importance of counter-cyclical and cross-cyclical adjustments to enhance macroeconomic governance effectiveness [5] - The report aims to integrate incremental and stock policy effects to achieve a good start for the "14th Five-Year Plan" [5] Group 2 - Five departments issued the "Implementation Opinions on Strengthening the Capacity Building of the Information and Communication Industry to Support Low-altitude Infrastructure Development," focusing on the collaborative development of information infrastructure and low-altitude applications [6] - The plan includes achieving a ground mobile communication network coverage rate of no less than 90% for low-altitude public air routes by 2027, along with the development of at least 10 standards for information infrastructure [6] - The initiative aims to enhance low-altitude navigation service levels and create typical low-altitude application scenarios in urban governance, logistics, and cultural tourism [6] Group 3 - Data shows that from the stock registration date of December 1, 2025, to February 9, 2026, approximately 270 A-share listed companies implemented cash dividends totaling over 370 billion yuan, a year-on-year increase of about 9.6% [8] - The "15th Five-Year Plan" for Zhejiang Province aims to cultivate trillion-level industrial clusters, focusing on core industries like embodied intelligence and smart driving, with a target of achieving 1.2 trillion yuan in revenue from the core AI industry by 2030 [8]

大家早上壕！ 先看海外要闻： 重磅就业报告公布前AI担忧重燃，标普纳指回落，但道指三日连创新高；收盘标普500跌0.33%，道指涨0.10%，纳指跌0.59%。 新AI工具引发行业前景忧虑，财富管理类股暴跌，嘉信理财收跌超7%；"科技七巨头"中，特斯拉涨近2%独涨、谷歌跌近2%领跌；存储芯片股大 幅回落，闪迪跌超7%。 纳斯达克金龙中国指数收涨0.87%，九紫新能收涨将近90%，禾赛、再鼎医药涨超6%。 美国零售数据逊色，美债价格加速上涨、收益率降幅扩大，十年期美债收益率创近一个月新低，美元指数盘中跌幅扩大、再创逾一周新低。 今日券商策略前瞻： 方正证券指出，技术面来看，沪指收出一根缩量小阳线，指数在4110点（20日均线）附近获得支撑，但上方4130-4140点区域构成短期压力。目 前指数处于上有压力、下有支撑的箱体震荡区间。成交额近期显示交投活跃度一般，资金观望情绪浓厚。节前资金观望情绪浓厚，春季行情继续 向节后演绎，没有只涨不退的潮水，4100点反复夯实为后续行情打下基础。 今日题材方面： 离岸人民币又创将近三年新高，近三年来首次盘中涨破6.91；比特币盘中跌破6.8万美元、较日高跌近4%。 金银铜和原 ...

新股动态： ①通领科技(920187)今日申购，发行价29.62元。 ② 易思维(688816)今日上市，发行价55.95 元。 行业大事： ①国新办举行新闻发布会，介绍2026"乐购新春"春节特别活动、保障春节市场供应有 关情况。 ②上海市政府举行新闻发布会，介绍《上海市国民经济和社会发展第十五个五年规划纲要》 有关内容。 ③海南全省首批在海口、三亚、儋州三个地级市共开设5家日用消费品 免税店，各店定于今 日南方小年开业。 ④ 中芯国际举行2025年第四季度业绩说明会。 ⑤欧佩克公布月度原油市场报告。 ⑥ 王毅将访问匈牙利并赴德国出席第62届慕尼黑安全会议。 ⑦World Defense Show2026第三届沙特(利雅 得)国际防务展今日至2月12日举行。 ⑧央行、国家发改委等八部门联合发布通知，重申加强虚拟货币 交易炒作风险监测、预警和处置。 经济数据公布： ①中国1月CPI同比，前值0.8。 ②中国1月PPI同比， 前值-1.9。 ③美国1月失业率，预期4.4，前值4.4。 ④美国1月非农就业人口变动(万人)，预期6.8，前值 5。 ⑤今日有750亿元7天期逆回购到期。 A股动态： ①6家上市公司迎来 ...

•五部门发文支持低空通信基础设施发展 低空公共航路地面移动通信网络覆盖率有望达到90% •国家发展改革委等部门发文加快招标投标领域人工智能推广应用 •人民银行10日发布2025年第四季度中国货币政策执行报告。其中提出，继续实施好适度宽松的货币政策。把促进经济稳定增长、物价合理回升作为货币政 策的重要考量，根据国内外经济金融形势和金融市场运行情况，把握好政策实施的力度、节奏和时机。灵活高效运用降准降息等多种政策工具，保持流动性 充裕和社会融资条件相对宽松，引导金融总量合理增长、信贷均衡投放，使社会融资规模、货币供应量增长同经济增长、价格总水平预期目标相匹配。（新 华财经） 登录新浪财经APP 搜索【信披】查看更多考评等级 转自：新华财经 •人民银行：继续实施好适度宽松的货币政策 灵活高效运用降准降息等多种政策工具 •美国商务部发布的初步数据显示，美国2025年12月份零售和食品服务业销售金额为7350亿美元，环比零增长，显著低于市场共识预期的0.4%和前月的 0.6%。（新华财经） •美国能源信息署EIA称，12月至1月，严寒天气导致美国天然气产量下降3%，预计2月份几乎所有受影响的产量都将恢复。1月份寒冷天气 ...

Group 1 - Tencent Holdings (00700) had a net inflow of 4.316 billion, representing a 22.17% increase in net inflow ratio [2][3] - Alibaba-W (09988) experienced a net inflow of 1.658 billion, with a net inflow ratio of 13.70% [2][3] - Pop Mart (09992) saw a net inflow of 588 million, with a net inflow ratio of 17.52% [2][3] Group 2 - Kangfang Biotech (09926) faced a net outflow of -285 million, with a net outflow ratio of -33.89% [2][3] - Yingfu Fund (02800) had a net outflow of -248 million, with a net outflow ratio of -1.88% [2][3] - Yum China (09987) recorded a net outflow of -213 million, with a net outflow ratio of -30.90% [2][3] Group 3 - Huaxia Hang Seng Technology (03088) led in net inflow ratio at 89.30% with a net inflow of 54.532 million [2][3] - Southern East Selection (03441) followed with a net inflow ratio of 68.86% and a net inflow of 14.5209 million [2][3] - China Foods (00506) had a net inflow ratio of 59.26% with a net inflow of 4.9995 million [2][3] Group 4 - Jinyuan International (02232) had the highest net outflow ratio at -50.27% with a net outflow of -40.079 million [3] - iFlytek Medical Technology (02506) recorded a net outflow ratio of -49.63% with a net outflow of -15.2262 million [3] - Sinopec Crown (00934) had a net outflow ratio of -45.08% with a net outflow of -5.1472 million [3]

Industry News - The Ministry of Industry and Information Technology and four other departments released an implementation opinion on strengthening the capacity building of the information and communication industry to support low-altitude infrastructure development, emphasizing the integration of low-altitude equipment with low-altitude information communication and the development of equipment [3] - The National Development and Reform Commission and other departments issued an implementation opinion to accelerate the application of artificial intelligence in the bidding and tendering field, aiming for full coverage of key scenarios by the end of 2026 and broader nationwide application by the end of 2027 [3] - The Shanghai Intelligent Connected Vehicle Testing and Demonstration Promotion Working Group published the "Shanghai Intelligent Connected Vehicle Development Report (2025)", indicating that as of last year, 3,173 automated driving test roads covering 5,238.82 kilometers have been opened in the city [3] - Analysts on Wall Street are showing high enthusiasm for Chinese artificial intelligence (AI) related stocks, as evidenced by recent ratings given to several listed companies, with JPMorgan analysts covering two companies and giving them an "overweight" rating [3] Company News - Semiconductor Manufacturing International Corporation (SMIC) reported a net profit of 1.223 billion yuan for the fourth quarter of 2025, representing a year-on-year increase of 23.2% [5] - Jianghuai Automobile disclosed a report on its private placement, with Ge Weidong investing approximately 1 billion yuan to subscribe for 20.0481 million shares [6] - CITIC Securities announced that its subsidiary, Huaxia Fund, achieved a net profit of 2.396 billion yuan for 2025 [7] - Dabe Technology announced that its Zhangbei Data Center project does not involve computing power leasing business [7] - Zhongtung High-tech announced plans to invest 145 million yuan in a new project to produce 30 million PCB drill rods per year [8] - Changfei Optical Fiber reported that the proportion of its optical fiber and cable products used in data centers and interconnections is relatively small compared to global market demand [8] - Baichuan Co., Ltd. announced that the market prices of some of its main products have increased, but the impact on the company's performance cannot be estimated at this time [8] - The Shenzhen Stock Exchange announced that *ST Cube's stock price has fluctuated significantly, triggering multiple abnormal trading standards, leading to self-regulatory measures such as trading suspension [8] - Hengdian Film and Television announced that the box office of three films, including "Fast and Furious 3," remains uncertain, and the company may apply for a trading suspension if its stock price continues to rise abnormally [8] - Yunjiji Group announced that its wholly-owned subsidiary signed a total EPC contract worth 1.331 billion yuan, accounting for 86.66% of the company's audited revenue for 2024 [8] - Jiamei Packaging announced that if its stock price continues to rise abnormally, it may apply for a trading suspension again [9] - Runtu Co., Ltd. stated that the sustainability of price fluctuations in disperse dyes is uncertain, making it difficult to estimate the impact on the company's performance [9]

Group 1 - The Chinese government plans to enhance the integration of low-altitude equipment and information communication, promoting the adaptation and verification of 5G/5G RedCap modules with low-altitude aircraft [1] - Zhongjin International expects its sales revenue growth to exceed the average of comparable peers by 2026, with capital expenditures remaining roughly the same as in 2025 [2] - Zhongjin International reported a net profit of 1.223 billion yuan in Q4, representing a year-on-year increase of 23.2% [2] - Dong'a Ejiao plans to invest 1.485 billion yuan in the construction of a health consumer goods industrial park [2] - Xinyuan Technology (ST Xinhua Jin) faces potential suspension risks due to the approaching deadline for rectifying fund occupation issues [2] Group 2 - The Hong Kong government plans to raise the statutory minimum wage to 43.1 HKD [1] - The Shanghai metropolitan area land space planning covers 14 cities in the Yangtze River Delta [1] - Deep Blue Aerospace has made significant progress in the development of the core power system for its large reusable launch vehicle, "Star Cloud No. 2" [1]

Financial Performance Summary - In Q4 2025, the company achieved revenue of RMB 17,812.8 million, an increase of 11.9% year-on-year, with a gross profit of RMB 3,095.9 million and a gross margin of 17.4% [2] - For the entire year of 2025, the company reported unaudited revenue of RMB 67,323.2 million, up 16.5% from RMB 57,795.6 million in the previous year. The net profit attributable to shareholders was RMB 5,040.7 million, a 36.3% increase from RMB 3,698.7 million in the prior year [2] - The net profit excluding non-recurring gains and losses for 2025 was RMB 4,124.3 million, reflecting a 55.9% increase from RMB 2,645.4 million in the previous year, driven by increased wafer sales, higher capacity utilization, and changes in product mix [2] Operational Metrics - The company reported Q4 sales revenue of USD 24.89 million, with a quarter-on-quarter growth of 4.5% and a gross margin of 19.2%, maintaining a capacity utilization rate of 95.7% [3] - For 2025, the company’s sales revenue was USD 93.27 million, a 16.2% year-on-year increase, with a gross margin of 21.0%, up 3.0 percentage points from the previous year [3] - The company’s capital expenditure for 2025 was USD 8.1 billion, with an end-of-year capacity of 1,059,000 8-inch wafers, an increase of approximately 110,000 wafers year-on-year [3] Future Outlook - The company anticipates a mixed outlook for 2026, with opportunities from the return of the supply chain and challenges from the memory market cycle. The guidance for Q1 2026 indicates flat sales revenue and a gross margin between 18% and 20% [3] - The company expects sales revenue growth in 2026 to exceed the average of comparable peers, with capital expenditure remaining roughly the same as in 2025 [3]

Group 1 - The Sci-Tech Innovation Board Composite Index (Sci-Tech Index) has been operating smoothly for one year since its official release on January 20, 2025, and has become a key tool for investors to observe and share the dividends of China's new productive forces [2] - As of February 10, 2025, the Sci-Tech Index covers 580 samples with a market capitalization coverage exceeding 90%, and the weight of constituent stocks with a total market value above 10 billion yuan has increased by 15.1% since its release [2] - The index has gained recognition among investors, with a total of 49 fund managers launching 81 index funds related to the Sci-Tech Index, achieving a combined scale of 25.8 billion yuan as of February 9, 2025 [4] Group 2 - The Sci-Tech Board has gathered over 600 companies, with the latest addition being the listing of Yuhang Power on February 10, 2025, marking it as the 603rd listed company [5] - The total R&D investment of Sci-Tech Board companies reached 132.864 billion yuan in the first three quarters of 2025, which is 2.7 times the net profit of the board, with a median R&D investment ratio of 12.5% of operating income, significantly higher than other A-share sectors [5] - As of February 9, 2025, 391 companies on the Sci-Tech Board have disclosed their expected performance for 2025, with over 60% of them reporting a year-on-year increase in net profit [6] Group 3 - The integrated circuit and biopharmaceutical industries are experiencing a recovery in prosperity, with 87 companies in the integrated circuit sector expected to see a combined net profit increase of approximately 9.949 billion yuan due to demand from emerging applications like artificial intelligence [7] - In the innovative drug sector, 26 companies are projected to increase their net profit by 1.449 billion yuan in 2025, with 18 companies reporting a total revenue of 24.157 billion yuan, reflecting a year-on-year growth of 34.9% [7]