Semiconductor Manufacturing International Corporation (SMIC) reported 2025 revenue of USD 9.33 billion, a 16.2% year-on-year increase driven by a 20.9% rise in wafer shipments to 9.70 million 8-inch-equivalent units.

\n\nGross profit climbed 35.1% to USD 1.96 billion; gross margin expanded to 21.0% from 18.0% a year earlier. Net profit attributable to shareholders reached USD 685.13 million, up 39.0%. EBITDA grew 20.0% to USD 5.26 billion, lifting the EBITDA margin to 56.4%.

\n\nOperating metrics improved as capacity utilisation advanced eight percentage points to 93.5%. Monthly installed capacity surpassed 1.0 million 8-inch-equivalent wafers. Revenue contribution by geography remained dominated by China at 85.6%, followed by the Americas at 11.6%. Consumer-electronics-related products accounted for 43.2% of wafer sales, with smartphones at 23.1%.

\n\nCash generated from operations held steady at USD 3.19 billion. Capital expenditures on property, plant and equipment rose 9.6% to USD 8.40 billion, mainly for capacity expansion. Total assets increased 6.3% to USD 52.27 billion; net debt stood at USD 0.66 billion, implying a 1.9% net-debt-to-equity ratio.

\n\nThe board did not recommend a dividend.

\n\nFor 2026 management guides revenue growth above the industry average for comparable markets and plans capital expenditure roughly in line with 2025 levels.