Brazil Court Suspends Sigma Lithium Mine Operations 
Spire Healthcare Shares Jump on £1.03 Billion Takeover Deal 
Lynas Rare Earths Shares Rise After Takeover Talks Revealed 
PayPal Shares Sink as $50 Billion Takeover Bid Collapses 
Anthropic IPO Marketing Expected to Start in Mid-October 
Nvidia CEO Says AGI Has Arrived With OpenAI GPT-6 Astra 
ByteDance Secures $29.6 Billion Loan to Boost AI Investment 
OpenAI Launches GPT-6 Astra With Advanced AI Agent Capabilities 
Milei Threatens Falkland Oil Firms With Sanctions 
Tesla Cybercab Launch Puts Robotaxi Ambitions in Focus 
Apple’s Phil Schiller Steps Back as Leadership Shake-Up Accelerates 
Texas Republicans Turn Against AI Data Centers as Election Backlash Grows 
MongoDB Stock Sinks 14% as Atlas Growth Misses Expectations 
SpaceX Turbine Push Unlikely to Threaten Howmet, Bernstein Says 
Pinterest Stock Falls as CFO Julia Brau Donnelly Resigns 
Thomson Reuters C-Track Cyberattack Hits Courts Across U.S. and Canada 
Add as a preferred source on Google
Shares of Semiconductor Manufacturing International Corp. (SMIC) surged on Friday after the Chinese semiconductor foundry delivered strong second-quarter earnings, supported by higher chip demand, improved pricing and increased wafer shipments.
SMIC reported revenue of $3.01 billion for the three months ended June, representing a 36.1% increase from the same period last year. Profit attributable to shareholders climbed 261.7% year-on-year to $479.2 million, highlighting a significant improvement in the chipmaker’s financial performance.
Following the results, Hong Kong-listed SMIC shares jumped as much as 6.4% to HK$71.90 by 03:27 GMT, as investors reacted positively to the earnings growth and an encouraging outlook for semiconductor demand.
The company’s gross margin improved to 25.3%, compared with 20.4% a year earlier. SMIC attributed the expansion partly to higher average selling prices and a stronger product mix.
Operational performance also strengthened during the quarter. Wafer shipments increased 20.1% year-on-year, while capacity utilization reached 93.7%, up from 92.5% in the corresponding period last year.
Looking ahead, SMIC expects third-quarter revenue to grow between 2% and 4% sequentially. The company projects a gross margin of 26% to 28%, suggesting further profitability improvements could be ahead.
SMIC said momentum surrounding artificial intelligence and related industries, along with spillover demand across the semiconductor market, should continue supporting chip manufacturing activity during the second half of the year. The company also plans to speed up the qualification of new production capacity.
The upbeat SMIC earnings helped lift sentiment across Asian semiconductor stocks as investors remained focused on AI-driven chip demand and industry capacity expansion.
South Korea’s SK Hynix gained around 3%, while Taiwan Semiconductor Manufacturing Co. rose 1%. Japan’s Advantest advanced 4%. In the U.S., Micron Technology shares climbed 4.2% in New York trading, adding to positive momentum across the global semiconductor sector.
