SMIC Reports H1 Net Profit of $677M Attributable to Parent, Up 111% YoY
Nashnova编辑部
SMIC's interim net profit reached $677 million, doubling year-on-year, while revenue rose 23.7% to $5.511 billion — volume and pricing gains drove a sharp improvement in profitability.
What are the headline numbers?
Interim revenue hit $5.511 billion, up 23.7% year-on-year; net profit attributable to owners reached $677 million, up 111.1%.
Basic earnings per share came in at $0.08.
This means → profit grew far faster than revenue, signaling that SMIC earned more on every wafer it shipped, not just on higher volumes.
What drove the revenue increase?
The company cited three drivers: higher wafer shipments, a rising average selling price, and a shift in product mix.
Wafer shipments — measured in 8-inch equivalent standard logic wafers (a common yardstick that converts different wafer sizes into one comparable unit) — rose 14.9% from 4.682 million to 5.379 million.
The average selling price climbed from $903 to $966, roughly a 7% gain.
In plain terms = volume up ~15%, price up ~7% — both levers pulled at once, lifting the top line.
Why did profit more than double?
Revenue grew about 24%, yet profit jumped 111% — the gap comes down to operating leverage.
This means → a fab's biggest costs are equipment depreciation and facility overhead, both largely fixed; each additional wafer sold adds very little marginal cost, so most of the extra revenue drops almost straight to the bottom line.
In plain terms = the factory is already built and the machines are already running — once utilization ticks up, profits get "amplified."
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