SMIC Reports RMB 7.314 Billion Net Profit Attributable to Shareholders for the First Three Quarters of 2026, Up 91.6% YoY

Source: IT之家 Published: 11/12/2026, 17:40:58 Product & Design 中文增长

AI summary

SMIC released its report for the first three quarters of 2026 (January–September 2026) and Q3 2026 (July–September 2026): first three quarters total revenue was RMB 60.618 billion, up 22.4% YoY; net profit attributable to shareholders was RMB 7.314 billion, up 91.6% YoY; operating cash flow was RMB 28.625 billion; basic and diluted EPS were RMB 0.91. In Q3 2026, total revenue was RMB 21.983 billion, up 28.1% YoY; net profit attributable to shareholders was RMB 2.847 billion, up 87.6% YoY; operating cash flow was RMB 7.866 billion; basic and diluted EPS were RMB 0.33.

Translation(model translation, not the source's own text)

Article title: SMIC's Net Profit Attributable to Shareholders for the First Three Quarters of 2026 Was 7.314 Billion Yuan, Up 91.6% Year-on-Year

Body: IT Home, November 12 news, SMIC today released its report for the first three quarters of 2026 (January 2026 to September 2026) and the third quarter (July 2026 to September 2026):

First Three Quarters of 2026

Total operating revenue: 60.618 billion yuan, up 22.4% year-on-year

Net profit attributable to shareholders: 7.314 billion yuan, up 91.6% year-on-year

Operating cash flow: 28.625 billion yuan

Basic earnings per share: 0.91 yuan

Diluted earnings per share: 0.91 yuan

Third Quarter of 2026

Total operating revenue: 21.983 billion yuan, up 28.1% year-on-year

Net profit attributable to shareholders: 2.847 billion yuan, up 87.6% year-on-year

Operating cash flow: 7.866 billion yuan

Basic earnings per share: 0.33 yuan

Diluted earnings per share: 0.33 yuan

AI interpretation: The company's overall performance this quarter exceeded the institutional consensus expectation: the market had previously expected third-quarter sales revenue of about 3.09 billion US dollars and a gross margin guidance range of 26% to 28%. Actual sales revenue reached USD, up quarter-on-quarter, and gross margin reached, up percentage points quarter-on-quarter, significantly higher than the midpoint of market expectations. Highlights of the cumulative performance in the first three quarters: under Chinese Accounting Standards for Business Enterprises, operating revenue from the beginning of the year to the end of the reporting period reached yuan, up year-on-year; net profit attributable to shareholders of the listed company reached yuan, a sharp year-on-year increase; basic earnings per share was yuan. The substantial improvement in profitability mainly came from a year-on-year increase in wafer sales volume, higher capacity utilization, and product mix optimization, while investment income from associates and joint ventures contributed significantly to non-recurring gains and losses. Net cash flow from operating activities reached 28.625 billion yuan, a sharp year-on-year increase of 133.0%, reflecting significantly stronger sales collection capability. Capacity and operating efficiency: third-quarter capacity utilization reached, further rising from 93.7% in the second quarter, with older production lines basically at full capacity. Wafer sales volume was about wafers (equivalent to 8-inch standard logic), a clear increase from wafers in the same period last year. The pace of capital expenditure was high early and stable later: third-quarter capital expenditure was yuan, down from yuan in the second quarter, reflecting the company's dynamic balance between capacity expansion and depreciation pressure. Changes in revenue structure: by region, the revenue share from China rose to 90.8% (86.2% in the same period last year), the share from the United States fell to 7.8%, and the share from Europe and Asia was 1.4%, with domestic customers continuing to contribute more. By application, the share of industrial and automotive categories rose to 19.3% (11.9% in the same period last year), computers and tablets accounted for 18.3%, consumer electronics accounted for 40.6% and remained the largest application; the share of smartphones fell to 14.3% (21.5% in the same period last year). By size, 12-inch wafers accounted for 78.9%, continuing to rise from 77.0% in the same period last year. Fourth-quarter guidance and outlook: the company expects fourth-quarter revenue to grow quarter-on-quarter to, with a gross margin guidance range of to. Considering that current capacity utilization is already at a high level, the benefits of price increases are gradually being released, and new capacity brings depreciation pressure, a slight quarter-on-quarter decline in gross margin is normal seasonal fluctuation. The company advances capacity expansion oriented by customer demand, builds leading advantages with a high-value-added, high-quality product mix, and enhances operational resilience through cycles. Key points for investment value: whether the price increase cycle for mature process nodes can continue is the core variable determining future gross margin elasticity. The sustainability of demand for AI peripheral chips (power management, signal chain) and industrial and automotive-grade chips requires vigilance against order fluctuations after consumer electronics customers finish pulling forward inventory. Non-recurring items such as passive dilution of equity interests in associates and changes in the fair value of financial assets have a relatively large impact on profit, and it is recommended to focus on the trend of net profit attributable to shareholders excluding non-recurring gains and losses.

AI Interpretation

The company's overall performance this quarter exceeded the institutional consensus expectation: the market had previously expected third-quarter sales revenue of about 3.09 billion US dollars and a gross margin guidance range of 26% to 28%. Actual sales revenue reached USD, up quarter-on-quarter, and gross margin reached, up percentage points quarter-on-quarter, significantly higher than the midpoint of market expectations.

Highlights of Cumulative Performance in the First Three Quarters

Under Chinese Accounting Standards for Business Enterprises, operating revenue from the beginning of the year to the end of the reporting period reached yuan, up year-on-year; net profit attributable to shareholders of the listed company reached yuan, a sharp year-on-year increase; basic earnings per share was yuan.

The substantial improvement in profitability mainly came from a year-on-year increase in wafer sales volume, higher capacity utilization, and product mix optimization, while investment income from associates and joint ventures contributed significantly to non-recurring gains and losses.

Net cash flow from operating activities reached 28.625 billion yuan, a sharp year-on-year increase of 133.0%, reflecting significantly stronger sales collection capability.

Capacity and Operating Efficiency

Third-quarter capacity utilization reached, further rising from 93.7% in the second quarter, with older production lines basically at full capacity.

Wafer sales volume was about wafers (equivalent to 8-inch standard logic), a clear increase from wafers in the same period last year.

The pace of capital expenditure was high early and stable later: third-quarter capital expenditure was yuan, down from yuan in the second quarter, reflecting the company's dynamic balance between capacity expansion and depreciation pressure.

Changes in Revenue Structure

By region: the revenue share from China rose to 90.8% (86.2% in the same period last year), the share from the United States fell to 7.8%, and the share from Europe and Asia was 1.4%, with domestic customers continuing to contribute more.

By application: the share of industrial and automotive categories rose to 19.3% (11.9% in the same period last year), computers and tablets accounted for 18.3%, consumer electronics accounted for 40.6% and remained the largest application; the share of smartphones fell to 14.3% (21.5% in the same period last year).

By size: 12-inch wafers accounted for 78.9%, continuing to rise from 77.0% in the same period last year.

Fourth-Quarter Guidance and Outlook

The company expects fourth-quarter revenue to grow quarter-on-quarter to, with a gross margin guidance range of to. Considering that current capacity utilization is already at a high level, the benefits of price increases are gradually being released, and new capacity brings depreciation pressure, a slight quarter-on-quarter decline in gross margin is normal seasonal fluctuation. The company advances capacity expansion oriented by customer demand, builds leading advantages with a high-value-added, high-quality product mix, and enhances operational resilience through cycles.

Key Points for Investment Value

Whether the price increase cycle for mature process nodes can continue is the core variable determining future gross margin elasticity.

The sustainability of demand for AI peripheral chips (power management, signal chain) and industrial and automotive-grade chips requires vigilance against order fluctuations after consumer electronics customers finish pulling forward inventory.

Non-recurring items such as passive dilution of equity interests in associates and changes in the fair value of financial assets have a relatively large impact on profit, and it is recommended to focus on the trend of net profit attributable to shareholders excluding non-recurring gains and losses.