Semiconductor Manufacturing International Corporation (688981.SH) outlined in its financial report that in the first half of 2025, influenced by domestic and international policy changes, channels are accelerating their stocking and inventory replenishment efforts. The company is actively cooperating with customers to ensure shipment deliveries, and this situation is expected to continue through the third quarter. The fourth quarter represents the industry's traditional slow season, when rush orders and pull-forward shipments will relatively moderate. Given that the company's overall production capacity remains in short supply, this moderation will not significantly impact the company's capacity utilization rates. Under the premise of no major changes in the external environment, the company's full-year target is to exceed the average performance of comparable industry peers.