Bei Jing Shang Bao·2025-11-17 14:04Core Viewpoint - SMIC's fourth-quarter revenue guidance indicates flat or 2% growth, reflecting cautious customer behavior in planning for the upcoming year [1] Group 1: Revenue Guidance - The fourth-quarter revenue guidance is expected to be flat or show a 2% increase, with no significant quarter-on-quarter leap [1] - This cautious outlook is attributed to customers adjusting shipment volumes in preparation for next year's plans [1] Group 2: Production Capacity - Despite the flat revenue guidance, the company's production lines are operating at a high capacity utilization rate of 95.8% in the third quarter, indicating strong demand and a supply-constrained situation [1] Group 3: Market Conditions - The smartphone market is experiencing a severe shortage of memory chips, leading to significant price increases, which raises concerns for customers about assembling complete devices [1] - In the networking and communication sector, customers are placing orders more cautiously in the fourth quarter, fearing excess inventory, while market orders are shifting to competitors [1]