China’s leading chip foundry, Semiconductor Manufacturing International Corp (SMIC), reported record-breaking third-quarter revenue, driven by robust domestic demand for “legacy chips.” SMIC’s Q3 revenue reached US$2.17 billion, a 34% increase year-over-year, marking the first time the Shanghai-based company has surpassed US$2 billion in quarterly revenue. Net profit surged by 58.3% to US$148.8 million.

SMIC’s continued success underscores its dominant position in China’s semiconductor market, where it remains the only mainland operator capable of producing 7-nanometer chips. The company shipped 2,122,266 eight-inch equivalent wafers, with a capacity utilization rate of 90.4%, the highest in six quarters, as monthly capacity rose to 844,250 eight-inch equivalent wafers.

As China intensifies efforts to boost its semiconductor industry, SMIC’s achievements highlight its growing role in advancing domestic chip production capabilities.