SMIC (688981.SH) announced first-half results, net profit of 4.467 billion yuan to mother, an increase of 94.2% over the previous year

According to the Zhitong Finance App, SMIC (688981.SH) released its 2026 semi-annual report. During the reporting period, the company achieved revenue of 38.635 billion yuan, an increase of 19.4% over the previous year. Achieved net profit of 4.467 billion yuan attributable to shareholders of listed companies, an increase of 94.2% over the previous year. Achieved net profit attributable to shareholders of listed companies after deducting non-recurring profits and losses of 2,994 billion yuan, an increase of 57.2% over the previous year.

Explanation of the reason for the change in revenue: Mainly due to the increase in wafer sales in the current period, the increase in average sales price, and changes in the product portfolio. The number of wafers sold (equivalent to 8-inch standard logic) increased by 14.9% from 4.682 million in the same period last year to 5.379 million in the current period. The average sales price (revenue from sales of wafers divided by total number of wafers sold) was RMB 6,667 for the current period, compared to RMB 6,482 for the same period last year.

During the reporting period, demand for artificial intelligence supporting chips was strong, overseas orders returned, local manufacturing continued to be strengthened, and the company had sufficient orders in hand. In product categories that are in short supply, the company negotiated price increases with customers, and the effect of price increases gradually became apparent; in addition, some customers were concerned that subsequent uncertainty in the external environment might lead to insufficient supply or continue to push up supply chain prices, boosting the preparation of some products.