SMIC Q2 revenue, margins rise on  higher wafer shipments, prices

Semiconductor Manufacturing International

13/08/2026 09:47

Overview
China semiconductor foundry's Q2 revenue rose 36% yr/yr, driven by wafer shipments and prices
Gross margin improved to 25.3% in Q2, up from 20.1% in Q1
Company expects Q3 revenue to rise 2%-4% sequentially, gross margin 26%-28%

Outlook
SMIC expects Q3 2026 revenue to rise 2% to 4% sequentially
Company sees Q3 2026 gross margin between 26% and 28%
SMIC says demand driven by AI and supply constraints will impact H2 2026 results

Result Drivers
WAFER SHIPMENTS - Co said Q2 revenue growth was mainly due to increased wafer shipments and average selling prices
HIGHER SELLING PRICES - Co attributed gross margin improvement to higher average selling prices and product mix change

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
 
$3.006 bln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 19 "strong buy" or "buy", 3 "hold" and 2 "sell" or "strong sell"
The average consensus recommendation for the semiconductors peer group is "buy"
Wall Street's median 12-month price target for Semiconductor Manufacturing International Corp is HK$90.00, about 33.5% above its August 12 closing price of HK$67.40
The stock recently traded at 53 times the next 12-month earnings vs. a P/E of 66 three months ago

Reuters Recommended Reads
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Aug 11 - TSMC, Sony to invest $4.7 billion in joint venture for image sensors
Aug 11 - Taiwan's ChipMOS Q2 revenue rises to highest since 2014

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)