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].

Core Insights - The core viewpoint of the article highlights the financial performance of SMIC (Semiconductor Manufacturing International Corporation) for the third quarter of 2025, showing significant growth in revenue and profit compared to the previous year [1] Financial Performance - For Q3 2025, the sales revenue was $2.382 billion, representing a year-on-year increase of 9.7% from $2.171 billion in Q3 2024 [1] - The gross profit for Q3 2025 was $522.8 million, up from $444.2 million in Q3 2024, with a gross margin of 22.0% compared to 20.5% in the previous year [1] - The profit attributable to shareholders for Q3 2025 was $192 million, reflecting a year-on-year increase of 28.9%, with earnings per share of $0.02 [1] Year-to-Date Performance - For the first three quarters of 2025, the total revenue reached $6.838 billion, a 17.4% increase compared to the same period last year [1] - The gross margin for the first three quarters was 21.6%, which is an increase of 5.3 percentage points year-on-year [1] Future Guidance - For Q4 2025, the company projects revenue to remain flat or grow by 2% quarter-on-quarter, with a gross margin guidance of 18% to 20% [1]

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 ...

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信息披露暂缓与豁免业务管理制度 （2020 年 11 月 11 日获董事会批准，2025 年 11 月 13 日经董事会修订） 第一章 总 则 Semiconductor Manufacturing International Corporation （中芯国际集成电路制造有限公司） 第一条 为规范Semiconductor Manufacturing International Corporation（中芯 国际集成电路制造有限公司）（以下简称"公司"）信息披露暂缓与豁免行为， 确保公司依法合规地履行信息披露义务，保护投资者的合法权益，依据《中华人 民共和国证券法》《上市公司信息披露暂缓与豁免管理规定》《上海证券交易所 科创板股票上市规则》（以下简称"《上市规则》"）和《上海证券交易所科创 板上市公司自律监管规则适用指引第1号——规范运作》（以下简称"《规范运 作》"）等法律、法规、规范性文件的相关规定以及《中芯国际集成电路制造有 限公司组织章程大纲及章程细则》（以下简称"《公司章程》"），制定本制度。 第二条 本制度适用于以下人员和机构：公司、公司的董事、高级管理人员、 核心技术人员、股东或存托凭证持有人 ...

Semiconductor Manufacturing International Corporation （中芯国际集成电路制造有限公司） 关联（连）交易管理制度 （2020 年 4 月 30 日获董事会批准，2020 年 11 月 11 日及 2025 年 11 月 13 日经 董事会修订） 第一章 总 则 第一条 为规范 Semiconductor Manufacturing International Corporation（中芯 国际集成电路制造有限公司）（以下简称"公司"）的关联（连）交易管理及决策 事宜，提高公司规范运作水平，保护公司和全体股东的合法权益，根据《上海证 券交易所科创板股票上市规则》（以下简称"《科创板上市规则》"）《上海证券交 易所科创板上市公司自律监管指引第 1 号——规范运作》《香港联合交易所有限 公司证券上市规则》（以下简称"《联交所上市规则》"）等法律、法规、规范性文 件的规定，结合《Semiconductor Manufacturing International Corporation（中芯国 际集成电路制造有限公司）组织章程大纲及细则》（以下简称"《公司章程》"）及 ...

第二条 本制度所称的内部审计是一种独立、客观的监督评价和建议活动， 通过运用系统、规范的方法，审查和评价公司业务活动及内部控制等方面的适当 性和有效性，以促进公司完善治理，提升价值，实现经营目标。 第三条 本制度适用于公司及合并报表范围内的企业。 第二章 内部审计机构和内部审计人员 Semiconductor Manufacturing International Corporation （中芯国际集成电路制造有限公司） 内部审计管理制度 （董事会于 2004 年 10 月 26 日采纳，并分别于 2005 年 7 月 2 日、2015 年 11 月 10 日、2019 年 8 月 8 日、2020 年 4 月 30 日、2022 年 8 月 11 日及 2025 年 11 月 13 日经董事会修订） 第一章 总 则 第一条 为 了 进 一 步 明 确 Semiconductor Manufacturing International Corporation（中芯国际集成电路制造有限公司）（以下简称"公司"）内部审计的 职责权限，加强内部审计工作管理，提高内部审计工作质量，发挥内部审计在强 化公司管理、提高经 ...