Shang Hai Zheng Quan Bao·2026-02-10 19:00Financial Performance Summary - In Q4 2025, the company achieved revenue of RMB 17,812.8 million, an increase of 11.9% year-on-year, with a gross profit of RMB 3,095.9 million and a gross margin of 17.4% [2] - For the entire year of 2025, the company reported unaudited revenue of RMB 67,323.2 million, up 16.5% from RMB 57,795.6 million in the previous year. The net profit attributable to shareholders was RMB 5,040.7 million, a 36.3% increase from RMB 3,698.7 million in the prior year [2] - The net profit excluding non-recurring gains and losses for 2025 was RMB 4,124.3 million, reflecting a 55.9% increase from RMB 2,645.4 million in the previous year, driven by increased wafer sales, higher capacity utilization, and changes in product mix [2] Operational Metrics - The company reported Q4 sales revenue of USD 24.89 million, with a quarter-on-quarter growth of 4.5% and a gross margin of 19.2%, maintaining a capacity utilization rate of 95.7% [3] - For 2025, the company’s sales revenue was USD 93.27 million, a 16.2% year-on-year increase, with a gross margin of 21.0%, up 3.0 percentage points from the previous year [3] - The company’s capital expenditure for 2025 was USD 8.1 billion, with an end-of-year capacity of 1,059,000 8-inch wafers, an increase of approximately 110,000 wafers year-on-year [3] Future Outlook - The company anticipates a mixed outlook for 2026, with opportunities from the return of the supply chain and challenges from the memory market cycle. The guidance for Q1 2026 indicates flat sales revenue and a gross margin between 18% and 20% [3] - The company expects sales revenue growth in 2026 to exceed the average of comparable peers, with capital expenditure remaining roughly the same as in 2025 [3]