SMIC: Q3 Revenue Expected to Grow 2% to 4% QoQ, Gross Margin Guidance of 26%-28%

Odaily News, SMIC announced that in Q2, the company achieved total revenue of $3 billion, representing a 20% quarter-over-quarter increase; gross margin stood at 25.3%, up 5.2 percentage points from the previous quarter. For Q3, revenue is expected to grow 2% to 4% quarter-over-quarter, with gross margin guidance set at 26%-28%. Looking ahead to H2, the industry impetus and spillover effects driven by artificial intelligence are expected to persist, generating broad demand for integrated circuit manufacturing. The company is flexibly allocating existing capacity and rapidly validating new capacity additions to help alleviate supply chain tightness. Overall, we remain optimistic about the industry trajectory and the company's development prospects. (CLS)