Core Viewpoint - SMIC expects its sales revenue growth for the full year of 2026 to exceed the average of comparable peers, assuming no significant changes in the external environment [1][3]. Financial Performance - In Q4 2025, SMIC reported sales revenue of $2.489 billion, a quarter-over-quarter increase of 4.5% and a year-over-year increase of 12.8% [1]. - The net profit attributable to shareholders for Q4 2025 was $173 million, showing a significant year-over-year growth of 60.7%, but a quarter-over-quarter decline of 9.9% [1]. - The gross margin for Q4 2025 was 19.2%, down 2.8 percentage points from Q3 2025 and lower than the 22.6% in Q4 2024, primarily due to increased depreciation [1]. - Depreciation and amortization expenses for Q4 2025 reached $1.07 billion, with a quarter-over-quarter increase of 7.4% and a year-over-year increase of 26.0% [1]. Capacity and Utilization - SMIC's production capacity utilization rate in Q4 2025 was 95.7%, significantly higher than 85.5% in Q4 2024 [1]. - By the end of 2025, SMIC's monthly capacity for 8-inch standard logic wafers reached 1.059 million pieces, an increase of approximately 110,000 pieces year-over-year [2]. - The average capacity utilization rate for 2025 was 93.5%, an increase of 8 percentage points year-over-year [2]. Revenue Breakdown - In Q4 2025, revenue from smartphone products accounted for 21.5%, while computer and tablet products contributed 11.8%, consumer electronics 47.3%, Internet and wearable products 7.2%, and industrial and automotive products 12.2% [2]. - For Q4 2025, 8-inch wafer revenue represented 22.8% and 12-inch wafer revenue represented 77.2% of total revenue [2]. - Geographically, revenue from China accounted for 87.6% of total revenue, while the U.S. contributed 10.3% (down 0.5 percentage points quarter-over-quarter), and the Eurasia region contributed 2.1% [2]. Future Outlook - For Q1 2026, SMIC anticipates revenue to remain flat quarter-over-quarter, with gross margin expected to be between 18% and 20% [3]. - The company expects that the opportunities from the return of the supply chain and challenges from the storage cycle will coexist in 2026 [3]. - Capital expenditures for 2026 are expected to remain roughly the same as in 2025 [3].

SMIC Q4 2025 Financial Presentation February 2026 Forward-Looking Statements This presentation may contain, in addition to historical information, forward-looking statements. These forward-looking statements are based on SMIC's current assumptions, expectations, beliefs, plans, objectives, and projections about future events or performance. SMIC uses words including but not limited to "believe", "anticipate", "intend", "estimate", "expect", "project", "target", "going forward", "continue", "ought to", "may" ...

Group 1 - The People's Bank of China (PBOC) released the "2025 Q4 China Monetary Policy Implementation Report," emphasizing the continuation of a moderately loose monetary policy to support economic governance and the "14th Five-Year Plan" [5][6] - The report highlights the importance of counter-cyclical and cross-cyclical adjustments to enhance macroeconomic governance effectiveness [5] - The report aims to integrate incremental and stock policy effects to achieve a good start for the "14th Five-Year Plan" [5] Group 2 - Five departments issued the "Implementation Opinions on Strengthening the Capacity Building of the Information and Communication Industry to Support Low-altitude Infrastructure Development," focusing on the collaborative development of information infrastructure and low-altitude applications [6] - The plan includes achieving a ground mobile communication network coverage rate of no less than 90% for low-altitude public air routes by 2027, along with the development of at least 10 standards for information infrastructure [6] - The initiative aims to enhance low-altitude navigation service levels and create typical low-altitude application scenarios in urban governance, logistics, and cultural tourism [6] Group 3 - Data shows that from the stock registration date of December 1, 2025, to February 9, 2026, approximately 270 A-share listed companies implemented cash dividends totaling over 370 billion yuan, a year-on-year increase of about 9.6% [8] - The "15th Five-Year Plan" for Zhejiang Province aims to cultivate trillion-level industrial clusters, focusing on core industries like embodied intelligence and smart driving, with a target of achieving 1.2 trillion yuan in revenue from the core AI industry by 2030 [8]

大家早上壕！ 先看海外要闻： 重磅就业报告公布前AI担忧重燃，标普纳指回落，但道指三日连创新高；收盘标普500跌0.33%，道指涨0.10%，纳指跌0.59%。 新AI工具引发行业前景忧虑，财富管理类股暴跌，嘉信理财收跌超7%；"科技七巨头"中，特斯拉涨近2%独涨、谷歌跌近2%领跌；存储芯片股大 幅回落，闪迪跌超7%。 纳斯达克金龙中国指数收涨0.87%，九紫新能收涨将近90%，禾赛、再鼎医药涨超6%。 美国零售数据逊色，美债价格加速上涨、收益率降幅扩大，十年期美债收益率创近一个月新低，美元指数盘中跌幅扩大、再创逾一周新低。 今日券商策略前瞻： 方正证券指出，技术面来看，沪指收出一根缩量小阳线，指数在4110点（20日均线）附近获得支撑，但上方4130-4140点区域构成短期压力。目 前指数处于上有压力、下有支撑的箱体震荡区间。成交额近期显示交投活跃度一般，资金观望情绪浓厚。节前资金观望情绪浓厚，春季行情继续 向节后演绎，没有只涨不退的潮水，4100点反复夯实为后续行情打下基础。 今日题材方面： 离岸人民币又创将近三年新高，近三年来首次盘中涨破6.91；比特币盘中跌破6.8万美元、较日高跌近4%。 金银铜和原 ...

新股动态： ①通领科技(920187)今日申购，发行价29.62元。 ② 易思维(688816)今日上市，发行价55.95 元。 行业大事： ①国新办举行新闻发布会，介绍2026"乐购新春"春节特别活动、保障春节市场供应有 关情况。 ②上海市政府举行新闻发布会，介绍《上海市国民经济和社会发展第十五个五年规划纲要》 有关内容。 ③海南全省首批在海口、三亚、儋州三个地级市共开设5家日用消费品 免税店，各店定于今 日南方小年开业。 ④ 中芯国际举行2025年第四季度业绩说明会。 ⑤欧佩克公布月度原油市场报告。 ⑥ 王毅将访问匈牙利并赴德国出席第62届慕尼黑安全会议。 ⑦World Defense Show2026第三届沙特(利雅 得)国际防务展今日至2月12日举行。 ⑧央行、国家发改委等八部门联合发布通知，重申加强虚拟货币 交易炒作风险监测、预警和处置。 经济数据公布： ①中国1月CPI同比，前值0.8。 ②中国1月PPI同比， 前值-1.9。 ③美国1月失业率，预期4.4，前值4.4。 ④美国1月非农就业人口变动(万人)，预期6.8，前值 5。 ⑤今日有750亿元7天期逆回购到期。 A股动态： ①6家上市公司迎来 ...

•五部门发文支持低空通信基础设施发展 低空公共航路地面移动通信网络覆盖率有望达到90% •国家发展改革委等部门发文加快招标投标领域人工智能推广应用 •人民银行10日发布2025年第四季度中国货币政策执行报告。其中提出，继续实施好适度宽松的货币政策。把促进经济稳定增长、物价合理回升作为货币政 策的重要考量，根据国内外经济金融形势和金融市场运行情况，把握好政策实施的力度、节奏和时机。灵活高效运用降准降息等多种政策工具，保持流动性 充裕和社会融资条件相对宽松，引导金融总量合理增长、信贷均衡投放，使社会融资规模、货币供应量增长同经济增长、价格总水平预期目标相匹配。（新 华财经） 登录新浪财经APP 搜索【信披】查看更多考评等级 转自：新华财经 •人民银行：继续实施好适度宽松的货币政策 灵活高效运用降准降息等多种政策工具 •美国商务部发布的初步数据显示，美国2025年12月份零售和食品服务业销售金额为7350亿美元，环比零增长，显著低于市场共识预期的0.4%和前月的 0.6%。（新华财经） •美国能源信息署EIA称，12月至1月，严寒天气导致美国天然气产量下降3%，预计2月份几乎所有受影响的产量都将恢复。1月份寒冷天气 ...

宏观新闻 1、国务院办公厅转发民政部等十部门《关于进一步加强养老机构安全管理的意见》。意见提出，到 2026年底，深入排查整治养老机构存量安全风险隐患，推动安全风险隐患动态清零。到2027年底，因地 制宜加强人防、物防、技防，养老机构本质安全水平明显提升。 2、央行发布2025年第四季度中国货币政策执行报告。报告提出，继续实施好适度宽松的货币政策。灵 活高效运用降准降息等多种政策工具，保持流动性充裕和社会融资条件相对宽松。报告还提出，把握好 利率、汇率内外均衡。引导短期货币市场利率更好围绕央行政策利率平稳运行。 3、上海市规划和自然资源局发布《上海大都市圈国土空间规划（2025—2035年）》草案公示。根据 《规划》草案的目标，至2035年，将加快建成具有世界影响力的社会主义现代化国际大都市圈。 4、美国总统特朗普称他正在考虑，若与伊朗的谈判未能取得成果，或向中东地区再派遣一支美国航母 打击群，为可能的军事行动做准备。 特朗普2月10日当天表示，"伊朗不会拥有核武器或者导弹"。 5、美联储洛根表示，未来几个月如果通胀回落、劳动力市场保持稳定 就不需要进一步降息。美联储哈 玛克表示，美联储的利率政策可能会"在相 ...

Group 1 - The Chinese government plans to enhance the integration of low-altitude equipment and information communication, promoting the adaptation and verification of 5G/5G RedCap modules with low-altitude aircraft [1] - Zhongjin International expects its sales revenue growth to exceed the average of comparable peers by 2026, with capital expenditures remaining roughly the same as in 2025 [2] - Zhongjin International reported a net profit of 1.223 billion yuan in Q4, representing a year-on-year increase of 23.2% [2] - Dong'a Ejiao plans to invest 1.485 billion yuan in the construction of a health consumer goods industrial park [2] - Xinyuan Technology (ST Xinhua Jin) faces potential suspension risks due to the approaching deadline for rectifying fund occupation issues [2] Group 2 - The Hong Kong government plans to raise the statutory minimum wage to 43.1 HKD [1] - The Shanghai metropolitan area land space planning covers 14 cities in the Yangtze River Delta [1] - Deep Blue Aerospace has made significant progress in the development of the core power system for its large reusable launch vehicle, "Star Cloud No. 2" [1]

登录新浪财经APP 搜索【信披】查看更多考评等级 ■ 中芯国际集成电路制造有限公司 2025年第四季度业绩快报公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性依法承担法律责任。 ● 本公司已于上海证券交易所及香港联合交易所同步披露依国际财务报告准则编制的未经审核业绩公 告，提请投资者注意与本公告区别。 一、2025年第四季度主要财务数据和指标 单位：千元 币种：人民币 ■ 二、经营业绩和财务状况情况说明 （一）报告期的经营情况、财务状况及影响经营业绩的主要因素。 特别提示： ● 本公告所载的中芯国际集成电路制造有限公司（以下简称"公司"）财务数据为初步核算数据，未经会 计师事务所审计，具体数据以公司2025年经审计的年度报告为准，提请投资者注意投资风险。 ● 本公告财务数据按中国企业会计准则编制并呈列。 2025年第四季度报告期内，公司实现营业收入人民币17,812.8百万元，较上年同期增长11.9%；毛利为 人民币3,095.9百万元，毛利率为17.4%。 2025年度未经审计的营业收入为人民币67,323.2百万元，上年营业收入为人 ...

Group 1 - The Sci-Tech Innovation Board Composite Index (Sci-Tech Index) has been operating smoothly for one year since its official release on January 20, 2025, and has become a key tool for investors to observe and share the dividends of China's new productive forces [2] - As of February 10, 2025, the Sci-Tech Index covers 580 samples with a market capitalization coverage exceeding 90%, and the weight of constituent stocks with a total market value above 10 billion yuan has increased by 15.1% since its release [2] - The index has gained recognition among investors, with a total of 49 fund managers launching 81 index funds related to the Sci-Tech Index, achieving a combined scale of 25.8 billion yuan as of February 9, 2025 [4] Group 2 - The Sci-Tech Board has gathered over 600 companies, with the latest addition being the listing of Yuhang Power on February 10, 2025, marking it as the 603rd listed company [5] - The total R&D investment of Sci-Tech Board companies reached 132.864 billion yuan in the first three quarters of 2025, which is 2.7 times the net profit of the board, with a median R&D investment ratio of 12.5% of operating income, significantly higher than other A-share sectors [5] - As of February 9, 2025, 391 companies on the Sci-Tech Board have disclosed their expected performance for 2025, with over 60% of them reporting a year-on-year increase in net profit [6] Group 3 - The integrated circuit and biopharmaceutical industries are experiencing a recovery in prosperity, with 87 companies in the integrated circuit sector expected to see a combined net profit increase of approximately 9.949 billion yuan due to demand from emerging applications like artificial intelligence [7] - In the innovative drug sector, 26 companies are projected to increase their net profit by 1.449 billion yuan in 2025, with 18 companies reporting a total revenue of 24.157 billion yuan, reflecting a year-on-year growth of 34.9% [7]