中芯国际，最新业绩出炉

Core Insights - SMIC reported Q3 2025 revenue of 171.62 billion yuan, a year-on-year increase of 9.9%, and a net profit of 15.1 billion yuan, up 43.1% year-on-year [1][2] - For the first three quarters, revenue reached 495.10 billion yuan, reflecting an 18.2% year-on-year growth, while net profit was 38.1 billion yuan, a 41.1% increase year-on-year [1][2] - The growth in performance is attributed to an increase in wafer sales and changes in product mix [1] Financial Performance - Q3 revenue: 171.62 billion yuan, up 9.9% year-on-year [2] - Q3 net profit: 15.1 billion yuan, up 43.1% year-on-year [2] - Revenue for the first three quarters: 495.10 billion yuan, up 18.2% year-on-year [2] - Net profit for the first three quarters: 38.1 billion yuan, up 41.1% year-on-year [2] - Basic earnings per share: 0.19 yuan, up 46.2% year-on-year [2] - R&D investment: 1.45 billion yuan in Q3, up 13.6% year-on-year [2] Market Reaction - As of November 13, SMIC's A-shares rose by 2.9% to 123.1 yuan per share, with a market capitalization of 659.6 billion yuan [3] - SMIC's Hong Kong shares increased by 3.21% to 75.6 HKD per share, with a market capitalization of 723.7 billion HKD [3] Future Outlook - The company expects Q4 revenue to remain flat or grow by 2% quarter-on-quarter, with a gross margin projected between 18% and 20% [1]