9 May 2025 | 9:51AM HKT SMIC (0981.HK): 1Q GM beat at 22.5%; UT rate improving with capacity in continuous expansion 1Q25 Revenue of US$2.2bn (+28% YoY/ +2% QoQ) was largely in-line with GSe/ Bloomberg consensus. 1Q25 GM of 22.5% was stronger than management's guidance and our / street's expectations, which we attribute to the increase of UT rate (89.6% in 1Q25, vs. 85.5% in 4Q24). Capex came in at US$1.4bn in 1Q25, vs. US$1.7bn in 4Q24. We expect Chinese foundries including SMIC to continue to invest meani ...

GLOBALFOUNDRIES (GFS) Q1 2025 Earnings Call May 06, 2025 08:30 AM ET Company Participants Sam Franklin - SVP of Business Finance & OperationsTim Breen - CEONiels Anderskouv - President & Chief Operating OfficerJohn Hollister - Chief Financial OfficerMark Lipacis - Senior Managing DirectorCJ Muse - Senior Managing DirectorVivek Arya - Managing DirectorRoss Seymore - Managing DirectorChris Caso - Managing DirectorKrish Sankar - Managing DirectorBastien Faucon-Morin - Senior Equity Research Associate Conferenc ...