公司第四季度经营活动现金流入达330亿新台币，现金及等价物增至1106.6亿新台币。应收账款周转天 数缩短3天至47天，库存天数增加1天至77天。 第四季度总产能为130.5万片(约当12英寸晶圆)。因进行8英寸及12英寸厂年度维护，预计2026年第一季 度总产能将小幅降至128.3万片(约当12英寸)。 资本开支与产能规划方面，公司第四季度资本支出为5.01亿美元，2025年全年资本支出达16亿美元。 2026年现金资本支出预算设定为15亿美元。 一季度业绩指引趋于保守。晶圆出货量预计将保持平稳，平均销售单价(美元计)将保持坚挺，毛利率预 计回落至约20%高位区间，产能利用率预计处于70%中段范围。 智通财经APP获悉，晶圆代工大厂联电(UMC.US)公布2025年第四季度业绩。财报显示，公司营收达 19.7亿美元，同比增长2.4%，较市场预期高出6000万美元;但GAAP每股收益为0.129美元，略低于市场 预期0.01美元。 关键财务与运营指标显示结构性调整。盈利水平方面，第四季度毛利率为30.7%，营业利润率为 19.8%。技术节点贡献上，22/28纳米制程营收占比达36%。 产能与效率上，联电当季晶 ...

Core Viewpoint - SMIC's stock experienced a decline of over 3% despite a brief recovery during the trading session, reflecting market volatility and investor sentiment [1] Financial Performance - For Q3 2025, SMIC reported sales revenue of $2.382 billion, representing a quarter-over-quarter increase of 7.8% and a year-over-year increase of 9.7% [1] - The company's gross margin was 22.0%, up by 1.6 percentage points from the previous quarter [1] - Capacity utilization increased to 95.8%, a rise of 3.3 percentage points quarter-over-quarter [1] - Net profit attributable to shareholders was approximately $192 million, showing a quarter-over-quarter growth of 44.7% and a year-over-year growth of 28.9% [1] Future Guidance - For Q4 2025, SMIC provided guidance indicating flat to 2% growth in revenue, with gross margin expectations between 18% and 20% [1] - The fourth quarter is traditionally a slow season for the foundry industry, and SMIC has built up inventory in anticipation of customer demand [1] - Management noted that while customer confidence remains strong, the pace of urgent orders and shipments may slow down in Q4 [1] - The company aims to exceed the average performance of comparable peers for the entire year, assuming no significant changes in the external environment [1]