Xin Lang Cai Jing·2025-08-28 14:39Core Viewpoint - Semiconductor Manufacturing International Corporation (SMIC) has experienced a significant short-term stock price increase, with shares rising nearly 10% to a new high, currently up 7.56% at HKD 60.5 [1] Financial Performance - In the second quarter, SMIC reported mixed financial results, with revenue reaching USD 2.209 billion, reflecting a year-on-year growth of 16.2% [1] - However, the net profit faced challenges, with a reported net profit of USD 132 million, down 19.5% year-on-year and 29.5% quarter-on-quarter [1] - The gross margin decreased from 22.5% in the previous quarter to 20.4% [1] Capacity and Market Demand - The company's capacity utilization rate significantly improved to 92.5%, indicating strong market demand [1] - Revenue growth was primarily driven by continuous capacity expansion [1] Future Projections - The company is rated as "hold," with projected total revenue for 2025 estimated at RMB 67.448 billion, representing a growth of 16.7% [1] - Operating profit margin is expected to be 8.58% [1] - Corresponding price-to-earnings (PE) ratios for 2025-2027 are projected to be 139.94, 115.12, and 96.97, respectively [1]