SMIC (688981.SH, 00981.HK) Q1 2026 Earnings Conference
Live time: May 15, 2026 00:30 UTC
SMIC (688981.SH, 00981.HK) Q1 2026 Earnings Conference
Live time: 05/15/2026 00:30:00 UTC
中芯国际（688981.SH，00981.HK）2026 年第一季度业绩说明会
Summary
00:50
Opening Remarks by Host
Welcome to SMIC's Q1 2026 Earnings Call. The meeting is broadcasted via the internet and phone, with Q&A instructions to follow after the management presentation.
01:41
Opening by Guo Guangli
Guo Guangli, Senior Vice President and Board Secretary, introduces the event. Participants include Co-CEO Dr. Zhao Haijun and CFO Dr. Wu Jinfeng.
02:33
Legal Disclaimer and Financial Overview
Guo Guangli issues a legal disclaimer that forward-looking statements are based on company expectations and introduces Q1 performance data, prepared under IFRS and denominated in USD.
03:47
CFO Dr. Wu Jinfeng's Financial Report
Dr. Wu detailed Q1 results: revenue of $2.505 billion (QoQ growth 0.7%), gross margin of 20.1% (up 0.9%), operating profit of $200 million, and EBITDA margin of 57.3%. Net attributable profit reached $197 million.
05:08
Balance Sheet and Cash Flow
Dr. Wu shared that Q1 total assets were $55 billion with debt-equity ratio at 40.5%. Operating cash flow was $685M, investing cash outflow was $1.697B, and financing inflow was $2.365B.
06:57
Q2 Financial Guidance
Guidance for Q2 2026 includes expected revenue growth of 14%-16% QoQ, gross margin between 20%-22%, with notable improvements in sales volume and ASP.
12:00
CEO Dr. Zhao Haijun Operational Review
Dr. Zhao emphasizes a revenue of $2.505B for Q1, with a strong demand for BCD and memory platforms. Production lines like 12-inch wafers saw QoQ growth in revenue.
18:46
Market Trends and Strategic Adjustments
Dr. Zhao discusses strength in automotive products and booming demands from embedded and discrete memory platforms due to AI growth.
29:27
Q&A: AI-driven Demand — Analyst: Leping Huang (Huatai Securities)
Dr. Zhao explains a strong demand for AI support chips, mainly in power management and data transmission, while addressing sustained profit margin improvement efforts.
36:16
Q&A: Custom Memory Business Plans — Analyst: Leping Huang (Huatai Securities)
Dr. Zhao shares SMIC's unique ability to convert existing production lines for specialty memory while managing high utilization rates for logic circuits.
41:08
Q&A: Advanced Packaging — Analyst: Ziyuan Wang (CITIC Securities)
Dr. Zhao reveals plans for a new advanced packaging R&D institute while emphasizing SMIC's partnership history and strong industry collaborations.
47:23
Q&A: Global Supply Tightness — Analyst: Yikang Zhang (CICC)
Dr. Zhao explains how global tightness in manufacturing capacity drives orders to Chinese fabs, with SMIC benefiting significantly.
50:56
Q&A: Depreciation Impact — Analyst: Guoqijian (Orient Securities)
CFO Dr. Wu clarifies the impact of depreciation on financials, noting adjustments due to continued expansion in 8-inch wafer capacity.
1:01:50
Closing Remarks by Guo Guangli
Guo Guangli thanks participants for their support and involvement, concluding SMIC's Q1 2026 conference call.
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