Semiconductor Manufacturing International Corporation (0981) saw its net profit surge 60.7 percent year-on-year to US$172.8 million (HK$1.35 billion) in the fourth quarter, beating the market estimate.
Its revenue rose 12.8 percent to US$2.49 billion, driven by the 26.3 percent increase in wafer shipments and product mix change, also surpassing the market expectation.
Gross margin was 19.2 percent, compared to 22 percent in the third quarter, due to the increase in depreciation, the company said.
Besides, the chipmaker said that its unaudited full-year net profit jumped 39.1 percent year-on-year to US$685.1 million in 2025, mainly due to the increase in wafer shipment and utilization rate, and product mix change.
Total unaudited revenue rose 16.2 percent to US$9.33 billion amid the reshuffling effects driven by the shift toward localization of the semiconductor industry chain over the full year in 2025.
SMIC recorded the capital expenditure of around US$8.1 billion in 2025.
Looking forward, the company forecasted that its revenue will be flat in the first quarter of 2026, with gross margin to range from 18 to 20 percent.
For the full year, SMIC estimated its revenue growth is expected to be higher than the industry average in the same markets, while the capital expenditure is expected to be roughly flat compared to that of 2025, based on the premise that there are no significant changes in the external environment.
