Hong Kong · Delayed Price · Currency is HKD smic Earnings Call Transcripts
Fiscal Year 2026
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Revenue grew 0.7% sequentially to $2,505M in Q1 2026, with gross margin up to 20.1%. Strong AI-driven demand and price increases are expected to drive 14%-16% sequential revenue growth in Q2, while the company prioritizes capacity expansion and R&D over dividends.
Fiscal Year 2025
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Q4 2025 revenue rose 4.5% sequentially, with full-year revenue up 16.2% to a record $9.33B and gross margin at 21%. 2026 revenue growth is expected to outpace the industry, with continued high capex and rising depreciation likely to pressure margins.
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Q3 revenue rose 7.8% sequentially to $2.382B, with gross margin at 22% and utilization at 95.8%. Q4 revenue is expected to be flat to up 2%, with full-year revenue projected above $9B. Memory supply constraints and strong domestic demand continue to shape outlook.
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Q2 2025 revenue declined 1.7% sequentially, but first half revenue rose 22% year-over-year, with strong growth in automotive and analog chip segments. Q3 revenue is expected to increase 5–7% sequentially, though Q4 visibility remains limited.
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Revenue grew 1.8% sequentially to $2,247 million in Q1 2025, with gross margin at 22.5% and strong growth in industrial and automotive segments. Q2 revenue is expected to decline 4–6% sequentially, with gross margin guidance lowered to 18–20%.
Fiscal Year 2024
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Q4 2024 revenue rose 1.7% sequentially to $2.21B, with full-year revenue up 27% to $8.03B. Strong growth was driven by capacity expansion and product mix optimization, while 2025 guidance anticipates above-industry revenue growth and stable capital expenditure.
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Q3 2024 saw record revenue and improved margins, driven by strong 12-inch capacity ramp and product mix optimization. Full-year revenue is expected to grow 27% year-over-year, with stable margins and continued focus on power device capacity for automotive and industrial markets.
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Second quarter revenue rose 8.6% sequentially to $1.9 billion, with gross margin at 13.9%. Third quarter revenue is expected to grow 13%-15% sequentially, driven by strong demand, tight capacity, and higher ASPs, while annual revenue growth is targeted to exceed the industry average.