Movement Alert｜SMIC Rises 3.53% in Regular Trading, Q2 Revenue Breaks $30 Billion Mark as AI Demand Continues to Catalyze

Market Focus

Aug 17

On August 17, SMIC rose 3.53% in regular trading, trading at 73.45 HKD/share, with turnover of 10.49 billion HKD. The rally continues momentum from the company's blockbuster Q2 earnings released on August 13.

SMIC reported Q2 revenue of $30.06 billion, up 36.1% year-over-year and 20.0% quarter-over-quarter, marking the first time quarterly revenue exceeded the $30 billion threshold. Net profit reached $4.79 billion, surging 261.7% YoY. Gross margin improved to 25.3%, up 5.2 percentage points sequentially. All key metrics significantly beat market expectations.

Management issued optimistic Q3 guidance, projecting revenue growth of 2%-4% QoQ and gross margin of 26%-28%, far exceeding the consensus estimate of 22.1%. Co-CEO Zhao Haijun stated that AI-related chip demand rose 40%, driving wafer volume up 14.4% QoQ while average selling prices increased 5.7%. Capacity utilization reached 93.7%, with orders booked through Q4, ruling out price cuts for the remainder of the year.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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