AI Chip Concept Stocks Insight | SMIC (00981.HK) down 0.49%, third-quarter gross margin of 29.9% tops guidance
- SMIC's third-quarter revenue of USD 3.190 billion and gross margin of 29.9% both exceeded the upper end of its own guidance.
- Monthly capacity rose to 1.11675 million 8-inch equivalent wafers in the third quarter, with utilisation at 97.3% and wafer shipments of 3.034 million.
- SMIC's co-chief executive said the fourth quarter would not be weak, with full-year revenue expected above USD 12 billion and gross margin around 26%.
NewTimeSpace News, 13 November 2026, the AI chip theme weakened, with SMIC (00981.HK) softening. As of 13:10, the company quoted HKD 48.500, down 0.49%.
On the news front, after the market close on 12 November 2026, SMIC reported third-quarter 2026 results: revenue of USD 3.190 billion, up 33.9% year on year and 6.1% quarter on quarter; gross margin of 29.9%, up 7.9 percentage points year on year and 4.6 points quarter on quarter, with both revenue and gross margin exceeding the upper end of its previous guidance; profit attributable to owners of the company was USD 428 million, up 123.4% year on year and down 10.6% quarter on quarter; capacity utilisation rose to 97.3%, up 3.6 percentage points quarter on quarter.
In addition, on 13 November 2026, the company's co-chief executive said at the third-quarter results briefing that the fourth quarter is a traditional low season for the industry but the company's performance would not be weak, with mobile phone and some consumer orders softening while capacity is shifted to high-demand, high-value-added products such as specialty memory and BCD; the company expects fourth-quarter revenue to grow 4% to 6% quarter on quarter with a gross margin of 26% to 28%, and full-year revenue to exceed USD 12 billion, up nearly 30% year on year.
TFSECURITIES believes that artificial intelligence infrastructure investment is continuing to transmit into wafer manufacturing, that the upcycle in semiconductor equipment demand may extend into 2027-2028, and that demand for advanced process equipment and key components is expected to grow in tandem.
SMIC (00981.HK) Provides IC wafer foundry and related technical services. It is the largest pure-play wafer foundry in China by capacity and offers the broadest coverage of process nodes. Its mature and select advanced process lines address applications including smart terminals, IoT, and computing chips. Based on its periodic disclosures, wafer shipments, capacity utilization, and revenue are at historically high levels.
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