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SMIC: First quarter net profit increased by 197% year-on-year
SMIC announced that in the first quarter of 2026, operating revenue reached 2.92B yuan, a year-on-year increase of 34.13%; net profit attributable to shareholders of the listed company was 930 million yuan, a year-on-year increase of 197.20%. The performance change was mainly due to the increase in gross profit by approximately 260 million yuan compared to the previous year driven by the growth in operating revenue during this period, as well as the company’s sale of some of its holdings in Tuojing Technology Co., Ltd., resulting in a net after-tax profit of about 397 million yuan.