Zheng Quan Shi Bao·2025-08-28 21:59Core Insights - SMIC reported a revenue of 32.348 billion yuan for the first half of the year, representing a year-on-year growth of 23.1% [1] - The net profit reached 2.301 billion yuan, up 39.8% year-on-year, while the net profit excluding non-recurring items was 1.904 billion yuan, reflecting a 47.8% increase [1] - The increase in revenue was attributed to a rise in wafer sales volume and average selling prices [1] Group 1: Financial Performance - The number of wafers sold increased by 19.9% from 3.907 million to 4.682 million [1] - The average selling price of wafers rose to 6,482 yuan from 6,171 yuan [1] - Gross margin improved to 21.9%, an increase of 8 percentage points from the previous year's 13.9% [1] - Operating cash flow reached 5.898 billion yuan, a significant increase of 81.7% year-on-year [1] Group 2: Revenue Structure - The consumer electronics sector accounted for the highest revenue share at 40.8%, up 7.4 percentage points year-on-year [2] - The industrial and automotive sectors saw their share rise to 10.1%, an increase of 2.4 percentage points, indicating a rebound in automotive electronics and growth in industrial demand [2] - The smartphone sector's share decreased to 24.6%, down 6.9 percentage points year-on-year [2] - Revenue from 12-inch wafers accounted for 77.1% of total revenue, up from 74.5% in the previous year, indicating a shift towards larger wafer sizes [2] Group 3: R&D and Innovation - R&D expenses totaled 2.375 billion yuan, representing 7.3% of revenue, a decrease from 10.0% in the previous year [3] - As of June 30, 2025, the company had obtained a total of 14,215 authorized patents, including 12,342 invention patents [3] - Key technology platforms are progressing as planned, including advancements in 28nm ultra-low leakage, 40nm embedded flash, and 65nm RF SOI technology [3]