Semiconductor Manufacturing International Corporation reported its highest quarterly revenue on record, even as it continues to operate under sweeping US export restrictions on advanced equipment.
SMIC's growth was driven by mature-node demand for power management, display drivers, and image sensors, plus higher-priced wafers tied to advanced 7-nanometer-class production used in Huawei's Kirin processors.
The Shanghai-listed foundry continues to invest heavily in capacity expansion, with new fabs in Beijing, Shanghai, and Shenzhen earmarked for operation through 2026.
Analysts caution that constraints on EUV lithography exposure remain a binding ceiling on truly leading-edge process development, even as the company narrows the gap on selected nodes.