Ge Long Hui·2025-11-14 00:24Core Insights - SMIC reported a robust growth in Q3 2025, achieving record revenue and net profit, with capacity utilization nearing full capacity [1][2][5] Financial Performance - In Q3 2025, the company achieved revenue of RMB 171.62 billion, a quarter-on-quarter increase of 6.9% and a year-on-year increase of 9.9%, marking a new quarterly revenue high [3][4] - The net profit for the same period was RMB 15.17 billion, reflecting a year-on-year growth of 43.1% [3][4] - The gross margin stood at 25.5%, up 4.8 percentage points from the previous quarter [3][4] - For the first three quarters of 2025, total revenue reached RMB 495.10 billion, a year-on-year increase of 18.2%, with net profit at RMB 38.18 billion, up 41.1% [3][4] Capacity and Production - The company’s monthly capacity increased from 991,250 wafers in Q2 2025 to 1,022,750 wafers in Q3 2025, with a capacity utilization rate of 95.8%, up 17.8% year-on-year [10] - The total assets at the end of the quarter were RMB 3,513.68 billion, with net assets attributable to shareholders at RMB 1,511.80 billion [5][10] Revenue Breakdown - Revenue by region shows that China accounted for 86.2%, the US for 10.8%, and Eurasia for 3% [7] - In terms of application, revenue contributions were 21.5% from smartphones, 15.2% from computers and tablets, 43.4% from consumer electronics, 8.0% from connected and wearable devices, and 11.9% from industrial and automotive sectors [7][9] Future Guidance - For Q4 2025, the company expects revenue to remain flat or grow by 2%, with a gross margin guidance of 18% to 20% [11][12]