On February 10, SMIC disclosed its outlook for 2026, highlighting a landscape filled with both opportunities stemming from the reshoring of the industrial chain and challenges posed by the storage mega-cycle. The company anticipates that its sales revenue will remain stable on a quarterly basis in the first quarter, with gross margins expected to fluctuate between 18% and 20%. Barring any substantial shifts in the external environment, SMIC projects that its sales revenue growth rate in 2026 will outpace the industry average. Meanwhile, capital expenditures are anticipated to remain roughly on par with those incurred in 2025.
