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(Sharecast News) - State-owned Chinese semiconductor foundry Semiconductor Manufacturing International Corp smashed market forecasts with its fourth-quarter results on Tuesday, which showed a 61% surge in profits.
The company, which is the largest contract chipmaker in the country, said net profits totalled $172.9m on a US dollar basis, up 60.7% over the year before and ahead of the $170.3m LSEG consensus forecast.
The bottom line improvement came despite a slip in gross margins to 19.2% from 22% in the third quarter.
Quarterly revenues increased 13% to $2.49bn, also above analysts' estimates. That pushed 2025 revenues as a whole to $9.33bn, ahead of the $8.03bn reported in 2024.
However, the company said that first-quarter sales would be more or less flat compared with the final three months of 2025, while gross margins would stay within the 18-20% range.
SMIC shares finished 1.7% higher at HK$71.55 in Hong Kong.
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