On August 17, SMIC rose 3.53% in regular trading, trading at 73.45 HKD/share, with turnover of 10.49 billion HKD. The rally continues momentum from the company's blockbuster Q2 earnings released on August 13.

SMIC reported Q2 revenue of $30.06 billion, up 36.1% year-over-year and 20.0% quarter-over-quarter, marking the first time quarterly revenue exceeded the $30 billion threshold. Net profit reached $4.79 billion, surging 261.7% YoY. Gross margin improved to 25.3%, up 5.2 percentage points sequentially. All key metrics significantly beat market expectations.

Management issued optimistic Q3 guidance, projecting revenue growth of 2%-4% QoQ and gross margin of 26%-28%, far exceeding the consensus estimate of 22.1%. Co-CEO Zhao Haijun stated that AI-related chip demand rose 40%, driving wafer volume up 14.4% QoQ while average selling prices increased 5.7%. Capacity utilization reached 93.7%, with orders booked through Q4, ruling out price cuts for the remainder of the year.

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