Xin Lang Cai Jing·2025-12-23 13:47Core Viewpoint - Semiconductor companies, including SMIC, are experiencing increased demand leading to price hikes and higher capacity utilization rates, with SMIC implementing a price increase of approximately 10% on certain capacities [1][7]. Group 1: Price Increases and Demand - SMIC has raised prices on some of its capacities by about 10% due to rising demand from mobile applications and AI, which has driven overall semiconductor product demand [2][8]. - The price increase is also influenced by rising raw material costs and the consolidation of TSMC's 8-inch capacity, which is expected to lead to further price hikes in the industry [9]. Group 2: Capacity Utilization and Production - SMIC's capacity utilization rate rose to 95.8% in Q3 2025, up from 92.5% in Q2 2025, indicating strong demand and near-full capacity operation [3][9]. - The company reported a total of 2,499,465 wafers sold in Q3 2025, with a monthly capacity of 1,022,750 wafers, reflecting a significant increase in production capabilities compared to previous quarters [10]. Group 3: Financial Guidance - For Q4 2025, SMIC has provided revenue guidance indicating a flat to 2% growth, with a gross margin forecast of 18% to 20%, consistent with Q3 guidance [4][11]. - The company anticipates its annual sales revenue to exceed $9 billion, marking a new milestone in revenue scale [4][11]. Group 4: Competitor Performance - Hua Hong's overall capacity utilization rate reached 109.5% in Q3 2025, an increase of 1.2 percentage points from the previous quarter, indicating robust operational performance [5][12]. - Hua Hong's three 8-inch wafer fabs continue to operate at high utilization rates, with its first 12-inch fab producing over 100,000 wafers consistently [6][12].