The company, widely known as SMIC, announced that profit attributable to shareholders rose 5% year-on-year to $197.4 million during the first quarter. While the figure reflected growth from the same period last year, it fell short of analysts’ expectations of $215.2 million, according to data from LSEG.
Revenue, however, showed healthier momentum. The chipmaker recorded a quarterly revenue increase of 11.5%, reaching $2.5 billion — matching market forecasts and underscoring continued demand for semiconductor manufacturing services in China.
In its filing, SMIC struck a more confident tone about the remainder of the year, saying it has become “more optimistic” about its overall operations compared with the previous quarter ending in December.
The company attributed the improved outlook to strong customer demand and a solid backlog of existing orders, signaling that China’s domestic semiconductor market continues to expand despite external pressures and technology restrictions from Western countries.
SMIC remains at the center of China’s broader push for semiconductor self-sufficiency as Beijing increases support for local chip production amid ongoing tensions with the United States over advanced technology exports.
Although the company continues to trail global giants such as Taiwan Semiconductor Manufacturing Company and Samsung Electronics in cutting-edge chipmaking technology, SMIC has steadily expanded its manufacturing capabilities and market share within China.
Analysts say investor attention will now shift toward whether the company can maintain growth momentum throughout the year as demand for artificial intelligence, consumer electronics, and industrial chips continues to evolve globally.