半导体芯闻·2025-08-07 10:33Core Viewpoint - SMIC reported a revenue of $2.209 billion for Q2 2025, representing a year-on-year growth of 16.2% and a gross margin of 20.4% [2][3]. Financial Performance - Q2 2025 revenue decreased by 1.7% compared to Q1 2025, but increased by 16.2% compared to Q2 2024 [3]. - Gross profit for Q2 2025 was $449.799 million, down 11.1% from Q1 2025, but up 69.7% from Q2 2024 [3]. - Operating profit fell by 51.3% quarter-on-quarter to $150.677 million, but increased by 72.9% year-on-year [3]. - Net profit for Q2 2025 was $146.681 million, a decrease of 54.6% from Q1 2025 and a decline of 14.9% from Q2 2024 [3]. Revenue Breakdown - In Q2 2025, revenue from the Chinese market accounted for 84.1%, slightly down from 84.3% in Q1 2025 but significantly up from 80.3% in Q2 2024 [5][6]. - The U.S. market contributed 12.9% of revenue, stable compared to Q1 2025 but down from 16.0% in Q2 2024 [5][6]. - The Eurasian market's contribution was 3.0%, slightly down from both Q1 2025 and Q2 2024 [5][6]. Product and Application Analysis - Wafer revenue constituted 94.6% of total revenue in Q2 2025, a slight decrease from 95.2% in Q1 2025 but an increase from 92.9% in Q2 2024 [5][6]. - Smartphone applications contributed 25.2% to wafer revenue, up from 24.2% in Q1 2025 but down from 32.0% in Q2 2024 [7]. - Consumer electronics applications accounted for the highest share at 41.0%, showing growth from both Q1 2025 and Q2 2024 [7]. Capacity and Utilization - The total number of wafers sold in Q2 2025 was 2,390,236, a 4.3% increase from Q1 2025 and a 13.2% increase from Q2 2024 [11]. - Capacity utilization rose to 92.5% in Q2 2025, up from 89.6% in Q1 2025 and significantly higher than 85.2% in Q2 2024 [11]. Capital Expenditure - Capital expenditure for Q2 2025 was $1.885 billion, an increase from $1.415 billion in Q1 2025 [12]. - R&D expenses rose by 22.2% quarter-on-quarter to $181.9 million, indicating a focus on innovation and development [12].