Zheng Quan Shi Bao·2025-08-07 21:48Core Viewpoint - SMIC reported better-than-expected Q2 2025 financial results, with sales revenue of $2.209 billion, a slight decrease from the previous quarter, but higher than prior guidance [1][3]. Financial Performance - Q2 2025 sales revenue was $2.209 billion, down 1.7% quarter-over-quarter, with a gross margin of 20.4%, down 2.1 percentage points [1]. - For the first half of 2025, sales revenue reached $4.46 billion, a year-over-year increase of 22%, with a gross margin of 21.4%, up 7.6 percentage points from the same period last year [1]. - Q2 2025 wafer shipments totaled 2.3902 million pieces (equivalent to 8-inch standard logic), representing a 4.3% increase quarter-over-quarter and a 13.2% increase year-over-year [2]. Capacity Utilization - The company's capacity utilization rate for Q2 2025 was 92.5%, an increase of 2.9 percentage points from the previous quarter [1][2]. - Monthly capacity increased from 973,300 pieces in Q1 2025 to 991,300 pieces in Q2 2025, measured in 8-inch standard logic [2]. Market Segmentation - In Q2 2025, revenue by region was distributed as follows: 84.1% from China, 12.9% from the U.S., and 3% from Eurasia, consistent with Q1 2025 figures [1]. - Revenue by application in Q2 2025 was as follows: smartphones (25.2%), computers and tablets (15%), consumer electronics (41%), internet and wearables (8.2%), and industrial and automotive (10.6%) [1]. Future Outlook - For Q3 2025, the company provided revenue guidance of a 5% to 7% increase quarter-over-quarter, with a gross margin forecast of 18% to 20% [3].