Group 1: Tencent Holdings - Tencent achieved revenue of 192.87 billion yuan in Q3 2025, a year-on-year increase of 15% [3] - Net profit attributable to equity holders was 63.13 billion yuan, up 19% year-on-year [3] - Key business segments showed robust growth: value-added services revenue was 95.9 billion yuan (+16%), marketing services revenue was 36.2 billion yuan (+21%), and fintech and enterprise services revenue was 58.2 billion yuan (+10%) [3] Group 2: JD Group - JD Group reported Q3 2025 revenue of 299.1 billion yuan, a 14.9% increase compared to Q3 2024 [4] - Net profit for Q3 2025 was 5.3 billion yuan, down from 11.7 billion yuan in Q3 2024 [4] - JD Retail's revenue for Q3 2025 was 250.6 billion yuan, an 11.4% increase year-on-year [4] Group 3: SMIC (Semiconductor Manufacturing International Corporation) - SMIC reported Q3 2025 revenue of 17.16 billion yuan, a year-on-year increase of 9.9% [5] - Net profit for Q3 2025 was 1.52 billion yuan, up 43.1% year-on-year [5] - The company achieved a gross margin of 25.5%, an increase of 4.8 percentage points quarter-on-quarter [5] Group 4: Bilibili - Bilibili's total net revenue for Q3 2025 reached 7.69 billion yuan, a 5% increase year-on-year [7] - Adjusted net profit was 786 million yuan, reflecting a significant increase of 233% year-on-year [7] - Key user metrics reached historical highs, with daily active users growing by 9% to 117 million and monthly active users increasing by 8% to 376 million [7]

中芯国际三季报公布。 中芯国际(688981)11月13日公告，三季度，公司整体实现营业收入人民币171.62亿元，环比增长6.9%；公司毛 利率为25.5%，环比上升4.8个百分点；产能利用率上升至95.8%，环比增长3.3个百分点。 根据未经审核财务数据，公司前三个季度营业收入为人民币495.1亿元，较去年同期增长18.2%；毛利率为 23.2%，较去年同期增长5.6个百分点。 净利润方面，公司第三季度归母净利润为15.17亿元，同比增长43.1%。前三季度归母净利润为38.18亿元，同 比增长41.1%。 责编：万健祎 校对： 杨舒欣 版权声明 证券时报各平台所有原创内容，未经书面授权，任何单位及个人不得转载。我社保留追 究相关 行 为主体 法律责任的权利。 | | | | = Li /U | INT : //WIF | | --- | --- | --- | --- | --- | | | | 本报告期比 | | 年初至报告 | | 项目 | 本报告期 | 上年同期增 | 年初至报告 | 期末比上年 | | | | 减少动幅度 | 期末 | 同期增减少 | | | | (%) | | 动幅度(%) | ...

Core Viewpoint - SMIC (Semiconductor Manufacturing International Corporation) demonstrated robust growth in Q3 2025, with revenue and gross profit increasing both year-on-year and quarter-on-quarter, reflecting strong business resilience amid market fluctuations [2][5][17] Financial Performance - In Q3 2025, SMIC achieved total sales revenue of $2.382 billion, a 7.8% increase from Q2 2025 and a 9.7% increase from Q3 2024 [4][5] - Gross profit reached $522.811 million, up 16.2% quarter-on-quarter and 17.7% year-on-year, with a gross margin of 22.0% [5][12] - Operating profit surged to $351.069 million, a 133.0% increase from Q2 2025 and a 106.6% increase from Q3 2024 [4][5] - Net profit for the period was $315.466 million, reflecting a 115.1% increase quarter-on-quarter and a 41.3% increase year-on-year [5][12] Revenue Breakdown - Revenue distribution by region shows that the China market remains the core pillar, contributing 86.2% of revenue in Q3 2025, up from 84.1% in Q2 2025 [7][8] - The wafer foundry business continues to dominate, accounting for 95.2% of total revenue in Q3 2025, with consumer electronics demand being the strongest at 43.4% [7][8] Capacity and Production - SMIC's monthly capacity increased from 991,300 8-inch equivalent wafers in Q2 2025 to 1,022,800 in Q3 2025, indicating ongoing capacity expansion [9][10] - Wafer sales reached 2,499,465 units in Q3 2025, a 4.6% increase from Q2 2025 and a 17.8% increase year-on-year [10] Cost Management and R&D Investment - Operating expenses decreased significantly by 42.6% quarter-on-quarter and 37.4% year-on-year, totaling $171.742 million [12][15] - R&D expenditure reached $203.147 million, reflecting an 11.7% increase from Q2 2025 and a 13.2% increase year-on-year, supporting technological advancements [12][15] Financial Health - As of September 30, 2025, SMIC's total current assets amounted to $14.145 billion, with a current ratio of 1.8, indicating solid short-term liquidity [16] - The company reported total equity of $33.076 billion, with a debt-to-equity ratio of 34.8%, suggesting a more reasonable capital structure [16] Future Outlook - SMIC anticipates stable revenue growth in Q4 2025, with a projected revenue increase of 0% to 2% and a gross margin between 18% and 20% [16][17] - The company is expected to strengthen its leadership position in the domestic integrated circuit manufacturing industry while enhancing its global market share [17]

Core Viewpoint - The company reported strong financial performance in Q3, with significant year-on-year growth in revenue and net profit, indicating a positive trend in its operational efficiency and market position [1][2]. Financial Performance - Q3 revenue reached 17.162 billion RMB, a year-on-year increase of 9.9% [2] - Q3 net profit was 1.517 billion RMB, reflecting a year-on-year growth of 43.1% [2] - For the first three quarters, total revenue was 49.510 billion RMB, up 18.2% year-on-year [2] - Net profit for the first three quarters amounted to 3.818 billion RMB, an increase of 41.1% year-on-year [2] Profitability Metrics - The gross margin for Q3 was 25.5%, up 4.8 percentage points from the previous quarter [1] - Capacity utilization increased to 95.8%, a rise of 3.3 percentage points quarter-on-quarter [1] Earnings Per Share - Basic earnings per share for Q3 were 0.19 RMB, a 46.2% increase compared to the same period last year [2] - Diluted earnings per share also stood at 0.19 RMB, reflecting the same growth rate [2] Research and Development - Total R&D expenditure was 1.447 billion RMB in Q3, a 13.6% increase year-on-year [2] - R&D spending accounted for 8.4% of revenue, an increase of 0.2 percentage points from the previous year [2] Future Guidance - The company expects Q4 revenue to remain flat or grow by 2% quarter-on-quarter, with gross margin projected to be between 18% and 20% [1][2]

Major Announcements - Guotai Group acquired 100% equity of Beikuan Baomao for 110 million yuan through public bidding [3] - People's Tongtai stock price has risen for four consecutive trading days, with a total increase of 46.43%, indicating potential rapid decline risk due to market sentiment [4] - Huasheng Lithium's stock price has deviated significantly, with a 62% revenue increase in the first three quarters, but still reporting a net loss of 10.3 million yuan [5] - Haishi Ke received approval for clinical trials of innovative drug HSK39297 for age-related macular degeneration, showing high development potential [6] - Angli Education postponed its response to an asset acquisition inquiry for no more than five trading days [7] - Shuguang Co. terminated its plan to issue shares to specific targets, with the Shanghai Stock Exchange halting the review [8] Performance Overview - JD Group reported third-quarter revenue of 299.1 billion yuan, a year-on-year increase of 14.9%, with net profit of 5.3 billion yuan [10] - SMIC achieved third-quarter net profit of 1.517 billion yuan, a 43.1% year-on-year increase, with revenue of 17.162 billion yuan [11][12] - Tencent Holdings reported third-quarter revenue of 192.87 billion yuan, a 15% year-on-year increase, with operating profit of 72.57 billion yuan [13] - Lu'an Huaneng's coal sales in October reached 3.78 million tons, a year-on-year increase of 3.28% [14] Shareholding Changes - Haicheng Bangda's director Wang Xiping plans to reduce his holdings by up to 0.97% due to personal financial needs [16] - Qisheng Technology's major shareholder reduced their stake to 40% through a block trade [17] - Tianwei Electronics' major shareholder Xie Kai reduced his holdings to below 5% [18] - Zhongzi Technology's major shareholders collectively reduced their stake by 1.35% [19] Major Contracts - Lichong Group's subsidiaries received project confirmations with an estimated total sales of approximately 1.135 billion yuan [21] - Anhui Construction's subsidiary won a project bid worth 1.753 billion yuan [22]

Core Viewpoint - SMIC's Q3 financial results show strong revenue growth and improved gross margin, but the company anticipates a slowdown in revenue growth for Q4 due to high capacity utilization and a shift in product mix [1][2][6]. Financial Performance - Q3 revenue reached 171.62 billion yuan, a 9.9% year-on-year increase and a 6.9% quarter-on-quarter increase; total revenue for the first three quarters was 495.1 billion yuan, up 18.2% year-on-year [2][3]. - Q3 gross margin was 25.5%, a significant increase of 4.8 percentage points from the previous quarter; the gross margin for the first three quarters was 23.2%, reflecting a year-on-year increase of 5.6% [2][3]. - Net profit attributable to shareholders in Q3 was 15.17 billion yuan, a 43.1% year-on-year increase; for the first three quarters, net profit was 38.18 billion yuan, up 41.1% year-on-year [2][3]. - Capacity utilization rose to 95.8%, an increase of 3.3 percentage points quarter-on-quarter, indicating strong demand [2][3]. Guidance and Expectations - Management's guidance for Q4 indicates revenue is expected to remain flat to grow by 2%, with a gross margin forecast of 18%-20%, suggesting a decline of approximately 6 percentage points from Q3 [5][6]. Market Segment Changes - In Q3, the share of consumer electronics increased from 41.0% to 43.4%, while the share of smartphones decreased from 25.2% to 21.5%; this shift may impact gross margins as consumer electronics typically have lower prices and margins [7]. - The industrial and automotive sectors saw an increase in share from 10.6% to 11.9%, although this segment remains small and not a primary driver of growth [7]. Capital Expenditure and Cash Flow - Capital expenditure in Q3 increased by 26% quarter-on-quarter, totaling 170.65 billion yuan; cumulative capital expenditure for the first three quarters reached 421.99 billion yuan, significantly exceeding operating cash flow of 122.88 billion yuan [7]. - Operating cash flow for Q3 was 63.9 billion yuan, a 29.1% year-on-year decline, but still positive; cash and cash equivalents at the end of Q3 were 283.63 billion yuan, down 41% from the beginning of the year [7].

格隆汇11月13日丨中芯国际(00981.HK)公布截至2025年9月30日止三个月未经审核业绩。2025年第三季 的销售收入为23.82亿美元，2024年第三季的销售收入为21.71亿美元，同比上升9.7%。 2025年第三季毛利为522.8百万美元，2024年第三季毛利为444.2百万美元。2025年第三季毛利率为 22.0%，2024年第三季毛利率为20.5%。 第三季度公司拥有人应占利润为1.92亿美元，同比上升28.9%，第三季度每股盈利为0.02美元。 根据未经审核财务资料，公司前三个季度收入为68.38亿美元,较去年同期增长17.4%;毛利率为21.6%,较 去年同期增长5.3个百分点。 四季度，公司收入指引为环比持平到增长2%，毛利率指引为18%到20%。 ...

本章程有中英文版本，中英文版内容如有歧义，概以英文版为准。 Semiconductor Manufacturing International Corporation （中芯国际集成电路制造有限公司） 审计委员会章程 （于 2005 年 1 月 25 日获董事会批准，并分别于 2006 年 2 月 6 日、2012 年 3 月 23 日、2015 年 11 月 10 日、2019 年 8 月 8 日、2020 年 4 月 30 日、2024 年 2 月 6 日及 2025 年 11 月 13 日经董事会修订） 第一章 总则 第一条 中芯国际集成电路制造有限公司（以下简称"公司"）根据《香港联合 交易所有限公司证券上市规则》及《上海证券交易所科创板股票上市规则》等相关 法律法规，制定本章程。 第二条 审计委员会（以下简称"委员会"）由董事会组织成立，主要负责（1） 监督公司的会计与财务报告体系及程序；（2）审核公司财务报表及相关披露；（3） 监督及评估公司内部审计部门及外聘审计师的工作；（4）监督公司风险管理和内部 控制系统。 第二章 组织构成 第三条 委员会成员人数由董事会确定，至少由三名成员组成。委员会成员 ...

格隆汇11月13日｜中芯国际月产能由2025年第二季的991,250片折合8吋标准逻辑增加至2025年第三季的 1,022,750片折合8吋标准逻辑。 ...

人民财讯11月13日电，中芯国际11月13日在港交所公告，预期国际财务报告准则下，2025年第四季度收 入环比持平至增长2%，毛利率介于18%至20%的范围内。 ...