中芯国际发布2026年中期报告，H1收入55.11亿美元同比增23.7%、归母利润6.77亿美元同比增111%

(Incorporated in the Cayman Islands with limited liability)
Stock Code: 00981

No.18 Zhangjiang Road, Pudong New Area, Shanghai 201203,
The People’s Republic of China
Tel : + 86 (21) 3861 0000
Website : www.smics.com

2026

Shanghai • Beijing • Tianjin • Shenzhen • Taiwan, China •
Japan • Americas • Europe

INTERIM REPORT

2026

* For identification purposes only

CONTENTS
2

SECTION 1

DEFINITIONS

3

SECTION 2

CORPORATE PROFILE AND PRINCIPAL FINANCIAL INDICATORS

6

SECTION 3

MANAGEMENT DISCUSSION AND ANALYSIS

21

SECTION 4

CORPORATE GOVERNANCE, ENVIRONMENT AND SOCIETY

26

SECTION 5

SIGNIFICANT EVENTS

45

SECTION 6

CHANGES IN SHARES AND INFORMATION OF SHAREHOLDERS

51

SECTION 7

FINANCIAL REPORT

FORWARD-LOOKING STATEMENTS
This report may contain, in addition to historical information, forward-looking statements. These forward-looking
statements are based on SMIC’s current assumptions, expectations, beliefs, plans, objectives and projections
about future events or performance. SMIC uses words including but not limited to “believe”, “anticipate”,
“intend”, “estimate”, “expect”, “project”, “target”, “going forward”, “continue”, “ought to”, “may”, “seek”,
“should”, “plan”, “could”, “vision”, “goal”, “aim”, “aspire”, “objective”, “schedule”, “outlook” and other
similar expressions to identify forward-looking statements. These forward-looking statements are estimates
made by SMIC’s senior management based on their best judgment and involve significant risks, both known
and unknown, uncertainties and other factors that may cause SMIC’s actual performance, financial condition or
results of operations to be materially different from those suggested by the forward-looking statements including,
among others, risks associated with cyclicality and market conditions in the semiconductor industry, intense
competition in the semiconductor industry, timely wafer acceptance by SMIC’s customers, timely introduction
of new technologies, SMIC’s ability to ramp new products into volume, supply and demand for semiconductor
foundry services, shortages in equipment, parts, raw materials, software and service supports, orders or judgments
from pending litigation, common intellectual property litigation in the semiconductor industry, macro-economic
conditions, fluctuations in currency exchange rates and the risk of geopolitics.

SMIC

2026 Interim Report

01

SECTION 1 DEFINITIONS
In this report, unless the context requires otherwise, the following expressions shall have meanings as follows:
Definitions of common terms
the Company, Company or SMIC

for

Semiconductor Manufacturing International Corporation

the Group or We

for

the Company and its subsidiaries

SMIC Shanghai

for

Semiconductor Manufacturing International (Shanghai) Corporation

SMIC Beijing

for

Semiconductor Manufacturing International (Beijing) Corporation

SMIC Tianjin

for

Semiconductor Manufacturing International (Tianjin) Corporation

SMIC Shenzhen

for

Semiconductor Manufacturing International (Shenzhen) Corporation

SMNC

for

Semiconductor Manufacturing North China (Beijing) Corporation

SMSC

for

Semiconductor Manufacturing South China Corporation

SMBC

for

Semiconductor Manufacturing Beijing Corporation

SMOC

for

Semiconductor Manufacturing Oriental Corporation

SMTC

for

Semiconductor Manufacturing Tianjin-Xiqing Corporation

CICT

for

China Information and Communication Technology Group Co., Ltd.

Datang Holdings

for

Datang Telecom Technology & Industry Holdings Co., Ltd.

Datang HK

for

Datang Holdings (Hongkong) Investment Company Limited

China IC Fund

for

China Integrated Circuit Industry Investment Fund Co., Ltd.

China IC Fund II

for

China Integrated Circuit Industry Investment Fund (Phase II) Co., Ltd.

Xinxin HK

for

Xinxin (Hongkong) Capital Co., Ltd.

Board

for

the board of directors of the Company

Director(s)

for

the director(s) of the Company

CSRC

for

China Securities Regulatory Commission

HKSE or Hong Kong Stock Exchange

for

The Stock Exchange of Hong Kong Limited

SSE

for

The Shanghai Stock Exchange

SSE STAR Market

for

Shanghai Stock Exchange Science and Technology Innovation Board

Hong Kong Listing Rules

for

the Rules Governing the Listing of Securities on The Stock Exchange of
Hong Kong Limited, as amended from time to time

SSE STAR Market Listing Rules

for

the Rules Governing the Listing of Stocks on the SSE STAR Market, as
amended from time to time

IFRS(s)

for

the International Financial Reporting Standard(s) as issued by the
International Accounting Standards Board

CAS(s)

for

the China Accounting Standard(s) for Business Enterprises as issued by
the PRC Ministry of Finance

Ordinary Share(s)

for

the ordinary share(s) of US$0.004 each in the share capital of the
Company

A Share(s)

for

the Ordinary Share(s) issued by the Company on the SSE STAR Market

Hong Kong Share(s)

for

the Ordinary Share(s) issued by the Company on the Hong Kong Stock
Exchange

Reporting Period or this period

for

period from January 1, 2026 to June 30, 2026

Corresponding Period or previous period

for

period from January 1, 2025 to June 30, 2025

All references in this report to silicon wafer quantities are to standard logic 8-inch equivalent wafers, unless otherwise specified.
The number of standard logic 8-inch equivalent wafers is equal to the number of standard logic 12-inch wafers multiplied by 2.25.
The financial information in this report has been prepared in accordance with the provisions under the IFRSs.

02

SMIC

2026 Interim Report

SECTION 2 CORPORATE PROFILE AND PRINCIPAL FINANCIAL INDICATORS
I.

BASIC CORPORATE INFORMATION
Name of the Company in Chinese

中芯國際集成電路製造有限公司

Chinese abbreviation

中芯國際

Name of the Company in English

Semiconductor Manufacturing International Corporation

English abbreviation

SMIC

Legal representative of the Company(Note)

Liu Xunfeng

Authorized Representatives under Hong Kong
Listing Rules

Liu Xunfeng, Guo Guangli

Board Secretary/Company Secretary

Guo Guangli

Registered address of the Company

Cricket Square, Hutchins Drive, P.O. Box 2681, Grand Cayman,
KY1-1111 Cayman Islands

Office address of the Company

18 Zhangjiang Road, Pudong New Area, Shanghai, PRC

Principal place of business in Hong Kong

29th Floor, One Exchange Square, 8 Connaught Place, Central,
Hong Kong

Postal code of the office address of the
Company

201203

Website address

https://www.smics.com/

E-mail

ir@smics.com

Hong Kong Share registrar

Computershare Hong Kong Investor Services Limited, 17M Floor,
Hopewell Centre, 183 Queen’s Road East, Wan Chai, Hong Kong

Custodian of A Shares

Shanghai Branch of China Securities Depository and Clearing
Corporation Limited (“China Clearing”)

Note: The Company is registered in the Cayman Islands, which does not have the concept of a legal representative, and the Chairman
of the Company is Liu Xunfeng.

II. CONTACT PERSONS AND CONTACT METHODS

Name
Contact address
Telephone
E-mail

Board Secretary
(Domestic Representative for
Information Disclosure)

Securities Affairs
Representative

Guo Guangli
18 Zhangjiang Road, Pudong New
Area, Shanghai, PRC
021-20812800
ir@smics.com

Wen Jiehan
18 Zhangjiang Road, Pudong
New Area, Shanghai, PRC
021-20812800
ir@smics.com

III. INFORMATION DISCLOSURE AND PLACE AVAILABLE FOR INSPECTION
Names and websites of the media selected by the
Company for information disclosure

Shanghai Securities News (https://www.cnstock.com),
China Securities Journal (https://www.cs.com.cn),
Securities Times (https://www.stcn.com) and Securities
Daily (http://www.zqrb.cn)

Website of the Shanghai Stock Exchange for publishing
the interim report of the Company

https://www.sse.com.cn

Website of the Hong Kong Stock Exchange for
publishing the interim report of the Company

https://www.hkexnews.hk

Place available for inspection of the interim report of the
Company

Board Affairs Office, 18 Zhangjiang Road, Pudong New
Area, Shanghai, PRC

IV. INFORMATION ON THE COMPANY’S SHARES
Class of shares

Stock exchange and board on which
shares are listed

A Shares
Hong Kong Shares

SSE STAR Market
中芯國際
Main Board of the Hong Kong Stock Exchange SMIC

Stock abbreviation

Stock code
688981
00981

SMIC

2026 Interim Report

03

SECTION 2 CORPORATE PROFILE AND PRINCIPAL FINANCIAL INDICATORS

V. PRINCIPAL ACCOUNTING DATA AND FINANCIAL INDICATORS OF THE COMPANY
(I)

PRINCIPAL ACCOUNTING DATA
in USD ’000
Six months ended

Revenue
Profit before tax
Profit for the period attributable to owners of
the Company
Profit for the period attributable to owners of the
Company, net of non-recurring profit or loss
Net cash generated from operating activities
Earnings before interest, tax, depreciation and
amortisation (“EBITDA”)

06/30/26

06/30/25

06/30/26 as
compared with
06/30/25 (%)

5,511,075
1,065,417
676,645

4,456,267
509,678
320,522

23.7
109.0
111.1

433,383

265,490

63.2

3,207,101
3,544,550

909,257
2,421,213

252.7
46.4

As of

Equity attributable to owners of the Company
Total assets

(II)

06/30/26

12/31/25

06/30/26 as
compared with
12/31/25 (%)

25,149,484
57,199,950

21,439,670
52,271,308

17.3
9.4

PRINCIPAL FINANCIAL INDICATORS
Six months ended
06/30/26

06/30/25

Gross margin

22.9%

21.4%

Net margin

17.5%

10.5%

EBITDA margin

64.3%

54.3%

Basic earnings per share
Diluted earnings per share
Basic earnings per share, net of non-recurring
profit or loss
Weighted average return on equity(1)

$0.08
$0.08
$0.05

$0.04
$0.04
$0.03

3.1%

1.5%

Weighted average return on equity, net of
non-recurring profit or loss(2)
Percentage of research and development
(“R&D”) costs to revenue

2.0%

1.3%

7.2%

7.4%

06/30/26 as
compared with
06/30/25 (%)
Increased by 1.5
percentage points
Increased by 7.0
percentage points
Increased by 10.0
percentage points
100.0
100.0
66.7
Increased by 1.6
percentage points
Increased by 0.7
percentage point
Decreased by 0.2
percentage point

Notes:
(1)

Weighted average return on equity = profit for the period attributable to owners of the Company/weighted average equity
attributable to owners of the Company

(2)

Weighted average return on equity, net of non-recurring profit or loss = profit for the period attributable to owners of the Company,
net of non-recurring profit or loss/weighted average equity attributable to owners of the Company

Profit before tax, profit for the period attributable to owners of the Company, profit for the period attributable to
owners of the Company, net of non-recurring profit or loss and EBITDA increased, primarily due to the increase in wafer
shipment, higher average selling price and the product mix change for this period.
Net cash generated from operating activities increased, primarily due to the increase in received cash from sale of goods
for this period.
Basic earnings per share, diluted earnings per share and basic earnings per share, net of non-recurring profit or loss
increased, primarily due to the increase in profit for the period attributable to owners of the Company.

04

SMIC

2026 Interim Report

SECTION 2 CORPORATE PROFILE AND PRINCIPAL FINANCIAL INDICATORS

VI. DISCREPANCIES IN ACCOUNTING DATA BETWEEN DIFFERENT ACCOUNTING
STANDARDS
(I)

DISCREPANCIES IN PROFIT FOR THE PERIOD AND EQUITY ATTRIBUTABLE TO OWNERS OF
THE COMPANY IN THE FINANCIAL REPORT DISCLOSED UNDER IFRSs AND UNDER CASs
Profit for the period attributable
to owners of the Company
Six months ended
06/30/26
06/30/25

in USD’000
Equity attributable to owners of
the Company
As of
06/30/26
12/31/25

Prepared in accordance with CASs
Adjustments to items and amounts
prepared in accordance with IFRSs:
Equity interests in associates being
passively diluted (Note)

649,453

319,419

25,149,484

21,439,670

27,192

1,103

–

–

Prepared in accordance with IFRSs

676,645

320,522

25,149,484

21,439,670

Note: Under the CASs, the impact arising from passive dilution of investments in associates and joint ventures shall adjust the carrying
amount of the long-term investment, and be recognised in capital reserve. Under the IFRSs, the impact arising from passive dilution
of investments in associates and joint ventures shall adjust the carrying amount of the long-term investment, and be recognised
in profit or loss in the current period.

VII. NON-RECURRING PROFIT OR LOSS ITEMS AND AMOUNTS

in USD’000
Six months ended
06/30/26

Gain on disposal of property, plant and equipment and assets
classified as held-for-sale
Government funding
Net gain arising from items measured at fair value through profit or
loss (“FVPL”)
Other non-recurring profit or loss items

3,593

248,412

Effects on income tax
Impact on non-controlling interests (after tax)

313,086
(64,140)
(5,684)

Total

243,262

20,255
40,826

in USD’000
Six months ended
06/30/26

Other non-recurring profit or loss items
Share of net gain arising from items measured at FVPL of associates
and a joint venture
Equity interests in associates being passively diluted
Others

218,993
27,192
2,227

VIII. EBITDA

in USD’000
Six months ended
06/30/26

06/30/25

Profit for the period
Finance costs
Depreciation and amortisation
Income tax expense

964,131
179,273
2,299,860
101,286

470,103
167,155
1,744,380
39,575

EBITDA (2)(3)
EBITDA margin (1)(2)(3)

3,544,550
64.3%

2,421,213
54.3%

Notes:
(1)
EBITDA margin=EBITDA/revenue
(2)

EBITDA and EBITDA margin are non-IFRS measurement items and may not be comparable to similar measurement items reported
by other companies.

(3)

EBITDA and EBITDA margin exclude the effects of different capital structures, depreciation policies, and tax burdens, providing
readers with information on the Company’s core profitability and cash flow status.

The increase in EBITDA and EBITDA margin was mainly due to the increase in wafer shipment, higher average selling
price and the product mix change for this period.

SMIC

2026 Interim Report

05

SECTION 3 MANAGEMENT DISCUSSION AND ANALYSIS
I.

PRINCIPAL BUSINESS AND INDUSTRIAL OVERVIEW DURING THE REPORTING PERIOD
(I)

PRINCIPAL BUSINESS, MAJOR PRODUCTS OR SERVICES

SMIC is one of the leading semiconductor foundries in the world and also the front runner in Chinese Mainland, with
leading manufacturing capability, manufacturing scale and comprehensive services. SMIC Group provides semiconductor
foundry and technology services to global customers on 8-inch and 12-inch wafers.
In addition to the IC foundry business, the Group is also committed to creating a platform-based ecological service
model, providing customers with one-stop supporting services in design services, IP support, photomask manufacturing,
etc., while promoting the collaborations of upstream and downstream of IC industry chain so as to provide a full range
of integrated circuit solutions to our customers with the partners in all links of the industry chain.

(II)

1.

MAJOR BUSINESS MODEL

Profit model

The Company is mainly engaged in IC foundry business based on multiple technology nodes and different technology
platforms, as well as supporting services such as design services and IP support, photomask manufacturing, etc.

2.

R&D model

The Company has formed a complete and efficient innovation mechanism and a complete R&D process management
system, equipped with professional R&D teams. The Company promoted the application platforms’ development, further
solidified its technical foundation and established its technical thresholds. The R&D procedures principally include seven
stages, namely selection of project, feasibility assessment, project establishment, technology development, technology
verification, product validation and production, each with strict review procedure, to ensure the successful conversion
of R&D projects.

3.

Procurement model

The Company mainly purchases materials, parts, equipment, software and technical services for IC foundry services and
supporting services from its suppliers. In order to improve productivity and enhance cost control, the Company has
established a procurement management system. The Company has an established supplier management system and
a relatively comprehensive security system for supply chain management. It has built mechanisms for supplier access,
supplier assessment and evaluation, and supplier capability development and improvement. While maintaining long-term
collaboration with its major suppliers, the Company continues to take into account the introduction and cultivation of
new suppliers to strengthen the sustainability and safety of the supply chain.

4.

Production model

The Company plans production capacity based on the market demand and determines production schedule, the details
of which are as follows:
(1)

Small-batch trial production: The customer designs the products according to the design rules provided by the
Company. After completing the design, the Company conducts a small-batch trial production based on the
customers’ requirements for such product.

(2)

Risk production: The samples from the small-batch trial production are packaged, tested, and functionally verified.
If they meet the market requirements, the product can enter into the risk production stage. The stage of risk
production mainly includes product yield improvement, product process improvement and production capacity
expansion.

(3)

Mass production: After completing the risk production, and the above mentioned delivery indicators have met the
standards, the product can enter into the mass production stage. In the mass production stage, the sales department
confirms with customer on the purchase order quantity. The production-planning department arranges production
based on customer order requirements, tracks production progress, and provides customers with production progress
reports.

5.

Marketing and sales model

The Company adopts various marketing methods and actively expands customer base through multiple channels. After
forming a cooperative relationship with customers, the Company will maintain direct communication channels with
customers and formulate solutions to meet their needs.
Through market research, the Company actively contacts and visits target customers, recommends process and services
linked to customer needs and launches a series of customer development activities. The Company also establishes
cooperative relations with customers through collaborations with design service companies, IP suppliers, EDA companies,
packaging and testing companies, industry associations and various IC industry promotion centers. The Company conducts
promotional activities and acquires customers by hosting technical seminars and participating in various professional
exhibitions, summits, and forums in the semiconductor industry. Some customers contact the Company for direct
cooperation through public channels such as the Company’s website and word-of-mouth communication. The Company’s
sales team executes orders with customers, and provides IC wafer foundry services and relevant supporting services to
the customers according to the requirements of the order. Upon completion of manufacturing, the products will be
delivered to customers or the downstream packaging and testing manufacturers designated by customers.
The Company has established the current foundry model based on the factors such as market supply and demand
situation, upstream and downstream development, the Company’s principal business, major products, core technologies,
and its own development stage. During the Reporting Period, the aforementioned key factors of business model had
no material changes.

06

SMIC

2026 Interim Report

SECTION 3 MANAGEMENT DISCUSSION AND ANALYSIS
(III) INDUSTRY OVERVIEW

1.

Development stage, basic features and major technical thresholds of the industry

In the first half of 2026, the global expansion of AI infrastructures and data centers continued to accelerate, driving
a surge in demand for computing power for Large Language Models. Consequently, computing chips and high-end
memory chips entered an upward cycle of growth across both volume and price, significantly boosting the total value
of the global semiconductor industry and delivering continuous optimization of upstream-downstream collaborative
supporting capacity. However, factors such as the regional conflict and geopolitical tensions drove up the prices of
some semiconductor raw materials. Meanwhile, as memory chip production capacity continued to shift toward the AI
sector, the supply of consumer-grade memory chips was squeezed. This raised production costs for consumer electronics,
smartphones, and PCs, leading to continued sluggishness in end-market shipments. Conversely, the automotive electronics
and industrial control sectors saw a sustained recovery driven by rising demand for intelligent driving and industrial
automation, alongside a sharp increase in the need for localized production. Products from domestic wafer fabs have
obtained automotive-grade certification and achieved gradual substitution.
From an industry landscape perspective, the wafer foundry segment continues to demonstrate significant strategic value. In
the realm of computing chips, the explosive growth in demand for logic computing chips has driven continuous iteration
in design tools, manufacturing processes, and heterogeneous packaging technologies, thereby establishing comprehensive
technical barriers that span IP cores, EDA toolchains, and fabrication processes. Conversely, the consumer electronics
sector faces declining terminal shipments and intensifying competition for low-end SoCs, image sensor, and display
driver ICs, where market share in a saturated landscape is contested primarily through cost-performance advantages.
In the automotive electronics and industrial control sectors, market barriers remain high and the competitive landscape
is highly concentrated; while Chinese semiconductor companies have successfully achieved volume adoption for analog
chips, image sensors, and power devices, the market for domain-control SoCs and MCUs remains dominated by overseas
semiconductor companies.
From a regional development perspective, as global supply chain systems undergo multidimensional, adaptive transformations
and regional restructuring, the localization of industrial chain footprints in China has become a strategic priority. The
integrated circuit industry in Chinese Mainland still holds significant growth potential across key segments—including
high-end equipment, critical raw materials and components, IC design capabilities, process development, and packaging—
while the trend of industrial chain localization continues to strengthen, driving a return of wafer foundry demand to
Chinese Mainland.
As a core link in the semiconductor industry chain, the wafer foundry industry has high barriers to entry due to technological
hurdles, talent requirements, and continuous capital investment. The focus of competition in this field is on nanoscale
process accuracy control, the development and application of new semiconductor materials, and the collaborative
optimization capabilities of ultra-large-scale manufacturing systems. Leading global companies maintain high levels of
R&D investment, continuously strengthening their technological advantages and building industry barriers, while local
companies are rapidly filling gaps in the market through collaboration across the industrial chain.

2.

Analysis on the industry position of the Company and its changes

SMIC is one of the leading IC wafer foundries in the world and also the front runner in Chinese Mainland, with leading
manufacturing capability, manufacturing scale and comprehensive services. According to the global pure-play foundries’
latest published sales in 2025, SMIC ranks second globally and the first among the enterprises in Chinese Mainland.

3.

Development of new technologies, new industries, new sectors and new models
during the Reporting Period as well as their future development trends

In recent years, the foundry manufacturers have attracted customers with their core advantages in the field of technological
leadership, platform diversity, and device performance differentiation. Meanwhile, the market demand is becoming
more diversified. The enterprises pursue not only smaller transistor structures vertically but also the derivative platforms
establishment by utilising existing technology nodes as horizontal development, in order to meet the differentiated needs
of the huge end market.
At the same time, the technologies’ breakthrough in new types of packaging, design services and photomask also
empower the wafer foundry technologies iterations. In the field of new packaging technologies, a variety of systematic
solutions effectively exceed the limitation of transistor linewidth, and further improve the compatibility of multi-chip
integration. In the design services sector, DTCO (Design Technology Co-Optimization) is utilised to evaluate and adjust
the coordination between IC design and manufacturing process, to effectively reduce the cost of semiconductor process
development and minimize the risk of process going for production. Photomask as a core tool in IC manufacturing
industry chain, the process performance of design pattern lithography has been further improved with the evolutions
on photomask types and graphic transfer materials.
With the changes in global industrial landscape, the wafer foundry companies begin to pay more attention to the
industrial constructions ecosystem layout instead of just focusing on own technology capability and platform build up. The
foundries’ capacity scale effect and collaboration capabilities in local industry chain have become one of the important
factors for customers’ assessment of supply chain stability and completeness.
Regarding the future development trends, the foundry companies continue to strengthen their industry barriers in the
aspects of capital, technology and ecosystem through their continuous efforts on capacity scale expansion, new process
developing, and industrial chain collaborations, etc. The business format dominated by a small number of companies in
the market will exist in the long run, and the industry’s leading effect will become increasingly evident.

SMIC

2026 Interim Report

07

SECTION 3 MANAGEMENT DISCUSSION AND ANALYSIS

II. DISCUSSION AND ANALYSIS ON BUSINESS

During the Reporting Period, demand for AI peripheral chips remained robust. Overseas orders have returned, localized
manufacturing has been further strengthened, and the Company maintained sufficient orders in hand. The Company
negotiated price increases with customers for product categories that were in short supply, and the effects were gradually
reflected. In addition, concerned that lingering uncertainty in the external environment might lead to short supply and
further push up supply chain prices, some customers built inventory for some products in advance.
The numerous uncertainties in the global macroeconomic environment have posed continuous challenges to supply chain
cost, stability and market expectations. Leveraging our experience gained over the years, we continued to strengthen the
resilience management of our supply chain, adopted multi-channel procurement strategies, and made efforts to mitigate
the adverse impacts. At the same time, the Company closely monitored customer demand, flexibly allocated resources,
and accelerated product response speed, ensuring sustained high-quality delivery amid a complex environment.
During the Reporting Period, the Group recorded revenue of US$5,511.1 million, representing a period-over-period
increase of 23.7%. In particular, the wafer revenue amounted to US$5,196.8 million, representing a period-over-period
increase of 22.9%.

III. ANALYSIS ON THE CORE COMPETITIVENESS DURING THE REPORTING PERIOD
(I)

ANALYSIS ON THE CORE COMPETITIVENESS

The Company continued to strengthen its core competitiveness during the Reporting Period as described below:

1.

Advantages in R&D platforms

According to the overall strategy and customer demand-oriented, the Company’s R&D center has continuously improved
its process R&D and innovation capabilities, strengthened platform construction, and upgraded product performance.
The R&D project fully benchmarked the technical requirements of the product in the early stage, effectively utilised R&D
resources, ensured the quality and reliability of output, actively shortened the cycle from R&D to mass production, and
met the market demand for product innovation and rapid iteration, and strived to provide new business growth points
for the Company.

2.

Advantages in R&D team

Through years of IC R&D practices, the Company has established a high-quality core management team and a professional
competent R&D team. The main members of the R&D team comprise senior experts with many years of R&D and
management experience in the industry.

3.

Advantages in rich product platforms and well-known brands

The Company has long been focusing on the development of IC process technologies for decades, and provides
semiconductor foundry and technology services to global customers on 8-inch and 12-inch wafers, which are applied
in various technology platforms. The Company owns mass production capability on many technology platforms, such as
logic IC, power/analog, high-voltage display driver, embedded non-volatile memory, stand-alone non-volatile memory,
mixed-signal/RF, and image sensor, etc. The Company is able to provide both IC foundry services and supporting services
to customers in the application fields of smartphone, computer and tablet, consumer electronics, connectivity and
IoT, industrial and automotive and other areas. Through long-term cooperation with domestic and overseas renowned
customers, the Company has formed prominent brand effects, and obtained sound industry recognition.

4.

Well-established intellectual property systems

The Company has accumulated many core technologies in the IC field with a well-established intellectual property system.
As of June 30, 2026, the Company had 14,784 patents in total, including 12,891 invention patents. In addition, the
Company had registered 94 layout designs of IC.

5.

Internationalised and supply chain layout

The Company is based on the concept of globalised operation and serves customers all over the world. The Company has
established an internationalised management team and talent team, and set up service bases and a business network that
spans the globe. Meanwhile, the Company has set up marketing offices in the United States, Europe, Japan and Taiwan,
China, further expanding the markets and quickly responding to customer needs. The Company pays great attention to
the partnerships with upstream and downstream enterprises of the IC industry supply chain, actively enhances supply
chain integration and layout capability, and constructs a compact IC ecosystem, in order to provide customers with
comprehensive one-stop IC solutions.

6.

Sound quality, occupational health, safety and environmental protection systems

The Company has established a comprehensive quality management system through continuously enlarging quality
management scope vertically and horizontally. Currently, the Company has obtained many accreditations, such as the
Information Security Management System Accreditation (ISO 27001), Quality Management System Accreditation (ISO
9001), Environmental Management System Accreditation (ISO 14001), Occupational Health and Safety Management
System Accreditation (ISO 45001), Quality Management System Accreditation for Automotive Supply Chain (IATF 16949),
Quality Management System Accreditation for Telecommunication Industry (TL 9000), Hazardous Substance Process
Management System Accreditation (QC 080000), Greenhouse Gas Emission Inventory Accreditation (ISO 14064), Energy
Management System Accreditation (ISO 50001), and the Road Vehicles – Functional Safety Accreditation (ISO 26262).

08

SMIC

2026 Interim Report

SECTION 3 MANAGEMENT DISCUSSION AND ANALYSIS
(II)

CORE TECHNOLOGIES AND R&D PROGRESS

1.

Core technologies and the advancement and their changes during the Reporting
Period

SMIC has an all-round integrated core technology system of IC wafer foundry, helping customers complete product
introduction and certification as well as stable mass production efficiently. SMIC has successfully developed diverse
technology platforms for 8-inch and 12-inch, offering “one-stop” wafer foundry and technical services.
In the first half of 2026, multiple platform projects have been developed as planned. Please refer to the following
information on R&D ongoing projects for details.

2.

R&D achievements during the Reporting Period

List of intellectual property rights obtained during the Reporting Period:
Addition during this period
Number of
Number of rights
applications
obtained

Accumulative number
Number of
Number of rights
applications
obtained

Invention patents
Utility model patents
Layout designs

160
–
–

270
3
–

18,666
1,897
94

12,891
1,893
94

Total

160

273

20,657

14,878

3.

Analysis of R&D costs
in USD’000
Six months ended

Expensed R&D costs
Total R&D costs
Percentage of total R&D costs to revenue (%)

4.

06/30/26

06/30/25

395,619
395,619
7.2

330,811
330,811
7.4

06/30/26 as
compared with
06/30/25 (%)
19.6
19.6
Decreased by 0.2
percentage point

R&D ongoing projects
Progress or milestone
achievements

Expected objective

Technology
positioning

Specific application
prospects

No.

Name of project

1

28nm ULL
Technology
Platform R&D
Project

Chinese
To further improve the
The technology platform
Mainland
layout of platform
has released several
leadership
IPs and expand the
foundational IPs and
application market. To
various interface IPs.
accelerate the platform
Different products from
and to reduce the level
multiple customers
of power leakage by
across various
process iteration and
application markets have
optimization, meanwhile,
been engaged. The tech
to meet the demand for
has overall entered a
both two major product
stage of mass production
categories of low power
at a certain scale.
leakage and low power
consumption, and to
reach mass production.

Mainly applied to
various IoT, mobile
communication and
other industries to
meet the needs of
smartphones, digital
TVs, set-top boxes,
image processing
and other products
demand.

2

28nm SST e-Flash
Platform R&D
Project

To complete platform
The process optimization
development, launch
has been completed. The
model and PDK with
device performance has
IP, and enable mass
been improved and has
production to fulfill
reached the industrymarket gap in high-end
leading level. The models
MCU sector.
and PDK are currently in
progress.

Chinese
Mainland
leadership

Mainly applied to
high-end MCU
scenarios such as
vehicle domain
controller and ADAS,
etc., which require
rapid response, low
power consumption
and large storage
capacity.

3

To continuously improve
Multiple products from
65nm RF-SOI
the performance of next
several customers have
Technology
generation platform
been successfully verified
Platforms
to the industry leading
and have entered the
Continuous R&D
level, to introduce
mass production stage.
Project
more customers’ new
products, and to reach
mass production.

Chinese
Mainland
leadership

Mainly applied to RF
chips in RF frontend
modules for
smartphones, Wi-Fi
and etc.

SMIC

2026 Interim Report

09

SECTION 3 MANAGEMENT DISCUSSION AND ANALYSIS

10

SMIC

Progress or milestone
achievements

Specific application
prospects

Name of project

4

The new generation of
90nm BCD
low-voltage platform
Technology
has achieved significant
Platform
upgrade in performance
Continuous R&D
index and has entered
Project
the product verification
stage. The mediumvoltage platform has
introduced multiple
products for verification
with different voltage
levels and in various
application markets.

5

Chinese
To continuously develop
The new generation of
8’’ BCD and
Mainland
new BCD platforms and
automotive electronics
Analog
leadership
to iteratively improve
system BCD platform
Technology
performance of the
entered risk production
Platform
existing platforms,
phase. Next generation
Continuous R&D
to release PDK, to
analog platform PDK has
Project
implement product
been released. SOI BCD
introduction and to
platform PDK is under
reach mass production.
development.
To continuously expand
the breadth and depth
of automotive electronics
technology platforms.

Mainly applied to
analog, power
management,
industrial
applications and
automotive chips.

6

0.18μm eNVM
for Automotive
Electronics
Technology
Platform R&D
Project

Chinese
Mainland
leadership

Mainly applied
to industrial
applications and
automotive chips.

7

The new generation of
Medium &
large size display driver
Large Size HV
platform PDK has been
Display Driver
released, and new
Technology
product design-in is onPlatform
going.
Continuous R&D
Project

2026 Interim Report

The eNVM technology
platform PDK for next
generation automotive
electronics system
has been released,
and eNVM IP is in
qualification.

Expected objective

Technology
positioning

No.

Chinese
To introduce more
Mainland
customers’ new products
leadership
by MV platform
technology, and to
reach mass production.
To further improve the
performance of next
generation technology
of LV platform, to
continuously enrich
the device variety,
and to provide a more
competitive technology
platform.

To complete platform
development and
reliability verification, to
release models and PDK,
lay out IP, to introduce
products and to reach
mass production.

Chinese
To continuously develop
Mainland
new devices and
leadership
technology platforms, to
release PDK, to introduce
products, and to reach
mass production. To
continuously expand
more market share
in medium and large
display driver field.

Mainly applied to
intelligent power
management, audio
amplifiers, intelligent
motor drivers and
automotive chips.

Mainly used in medium
and large-sized
screen display driver
chips and car screen
display driver chips.

SECTION 3 MANAGEMENT DISCUSSION AND ANALYSIS
5.

R&D staff
Basic information
Six months ended
06/30/26
06/30/25

Number of R&D staff of the Group (person)
Proportion of R&D staff to the total number of employees in the Group (%)
Total compensation of R&D staff (in USD’000)
Average compensation of R&D staff (in USD’000)

2,420
11.9
83,928
35

2,290
12.0
73,754
32

Education level
Number of persons
by education

Education level

502
1,336
582

Doctorate
Master
Bachelor and below
Age structure

Number of persons
by age

Age group

964
1,064
358
34

Aged below 30 (excluding 30)
Aged 30-40 (excluding 40)
Aged 40-50 (excluding 50)
Aged 50 and above

IV. RISK FACTORS
The IC industry is confronted with a dynamic macro environment and uncertainties. The Company is committed to
maintaining stability while pursuing progress as its principle, to fostering sustainable development as its cornerstone,
and to serving customers while enhancing core competitiveness as its goal. It strives to better balance security with
development, making every effort to minimize the impact of various risk factors on the Company.

(I)

1.

RISK OF CORE COMPETITIVENESS

The risk of R&D and iteration of technology upgrade

The IC wafer foundry industry in which the Company operates is a technology-intensive industry, it involves the
comprehensive application of dozens of disciplines in science technology and engineering, and has the characteristics of
fast process technology iteration, large capital investment, long R&D cycle, etc. The IC wafer foundry requires relatively
high technical content, the process from early technical demonstration to sustained R&D efforts takes a relatively long
period. If the Company fails to keep up with the needs of the industry in the future or correctly identify the direction of
R&D, deviations may occur in process technology positioning. The R&D process of the new technology is also relatively
complicated, time-consuming and costly, there exists uncertainty. Additionally, the rich terminal application scenarios
determine the differences in the mainstream technology nodes and processes of chip products in various markets, and
the corresponding market demand changes rapidly.
The Company has insisted on independent R&D and further consolidated its independent core intellectual property
rights. By aligning market and R&D efforts to plan the technology roadmap, the Company ensures that its processes
and technology platforms are better matched to market demands and remain competitive. Additionally, the Company
continues to invest resources in attracting talents.
If the Company’s investment in technology R&D in future is insufficient to support the need for technology upgrades, the
Company’s technology may be overtaken or replaced, which will adversely affect the Company’s sustained competitiveness,
or the Company fails to launch cost-effective technology platforms that meets market demand in a timely manner,
the technology iteration lags significantly behind the process requirements of product application, the Company’s
competitiveness and market share may diminish, thus adversely affecting the Company’s long-term development.

2.

The risk of shortage or loss of technical talents

The IC wafer foundry industry is also a talent-intensive industry. IC wafer foundry involves the integration of thousands
of processes and dozens of professional disciplines. The requirements for process coordination and error control in each
sector are extremely high and it requires relevant professionals to possess not only solid professional knowledge and
long-term technical accumulation, but also strong comprehensive capabilities and experience accumulation.
For the past years, the Company has attached great importance to the scientific management of human resources,
formulated a relatively reasonable talent policy and salary management system, and implemented multiple incentive
measures, including share incentives for outstanding talents, which played a positive role in retaining and attracting
technical talents.
In recent years, the number of IC companies has been growing rapidly, resulting in a relatively huge gap between the
supply and demand of outstanding technical talents in the industry, and the competition for talents is fierce. If a large
number of outstanding technical personnel quit, and the Company is unable to recruit or cultivate experienced technical
personnel in a short period of time, the Company’s sustainable competitiveness may be adversely affected.

SMIC

2026 Interim Report

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SECTION 3 MANAGEMENT DISCUSSION AND ANALYSIS
3.

The risk of technical leakage

Technology is the core competitiveness in the IC wafer foundry industry, and the Company is driven by technological
innovation.
The Company attaches great importance to the protection of core technologies. It has formulated a series of strict
and complete confidentiality policies including the information security protection policies, and signed confidentiality
agreements and competitive restriction agreements with relevant technical personnel to ensure the confidentiality of
core technologies.
However, due to the limitations of technical confidentiality protection measures, the mobility of technical personnel and
other factors beyond its control, the Company is exposed to the risk of core technology leakage. The occurrence of any
of the above may weaken the Company’s technical advantages to a certain extent and has adverse effects.

(II)

1.

OPERATING RISKS

The risk of continuous huge investment in the Company’s R&D and production

The IC wafer foundry industry is a capital-intensive industry. In order to continuously upgrade the existing technology
platforms to maintain the advantage of market competitiveness, ensure sufficient production capacity to meet order
production requirements, and improve core competitiveness, the Company has to make continuous huge investments.
The Company enhances its overall profitability by optimizing product mix, improving utilisation rate, and refining process
technologies etc., while maintaining a diversified strategy in financing channels.
In the future, if the Company fails to generate sufficient operating profit or financing is restricted, which would result
in reduced investment, the Company’s competitiveness may be adversely affected.

2.

The risk of too high or too low customer concentration

The downstream industry market of the global IC wafer foundry industry has a relatively high concentration, however,
the market concentration of downstream industry in China’s IC wafer foundry industry is relatively fragmented.
The Company has established a relatively stable cooperative relationship with major customers by virtue of its advantages
in R&D strength, product quality, capacity support and service response, however, the Company may still face the risk
of too high or too low customer concentration.
If there are material issues in the production and operation of major customers in the future, or if customers are scattered,
weak and small, and the Company needs to invest more in sales, operation and production costs, the Company’s
performance stability, operating efficiency and sustained profitability may be adversely affected.

3.

The risk of supply chain

The semiconductor industry chain features global division of labor and imposes high requirements on suppliers. There
is a limited number of qualified suppliers around the world for certain important raw materials, parts, software, core
equipment and service supports, etc.
In the future, the Company’s production, operations and sustainable development may be adversely affected if there
is a shortage of supply, delay in delivery or a significant rise in price of the required important raw materials, parts,
software, core equipment and service supports etc., or there are trade frictions, diplomatic conflicts, wars, etc., between
other countries and the countries and/or regions where the suppliers are located, which, in turn, affect the approval of
export licenses, supply or rise in price of the related raw materials, parts, software, equipment and service supports etc.

(III) FINANCIAL RISKS

1.

The risk of performance fluctuations

Fluctuations in the macroeconomic cycle, change in the industry prosperity of integrated circuit, domestic and foreign
customers’ order adjustments, price fluctuations of supply chain, unplanned production fluctuations and others caused by
events such as facilities, electric power, and equipment verification, continuous capital expenditure, depreciation burden
and R&D expenses, may cause the Company to be exposed to the risks of fluctuations in sales revenue, gross margin,
profit, etc. within a certain period of time.

2.

The risk of impairment on assets

As a capital-intensive enterprise, the Group has a relatively large scale of fixed assets. In the future, if there is a sharp
decline in the market price of assets in the period and the decline is remarkably greater than the expected decline due
to the passage of time or normal use, or the economic, technological or legal environment where the Company is, and
the market where the asset is located experienced or is expected to experience significant changes in the period or in
the near future, or the market interest rates or other market investment returns have increased in the period, which
affects the Company’s calculation of the discount rate applicable for the calculation of the net present value of future
cash flows of the assets, this may cause insufficient asset utilisation, termination of use or early disposal of assets, or
cause recoverable amount of assets to be lower than the carrying amount, resulting in impairment, which may adversely
affect the Group’s income statement in the period.
The Company’s major customers are integrated circuit design companies and IDM companies at home and abroad with
large scale, high credit ratings, and good payment records. Although the possibility of bad debts from major customers is
currently low, the Company will still be exposed to the risk of bad debt losses caused by uncollectible accounts receivable
if there are adverse changes in the business conditions of some customers in the future.
In addition, in the future, if the net realizable value of some inventories fails to cover the cost resulting from the market
demand changes, the Company will be exposed to the risk of an increase in the impairment losses on inventories.

12

SMIC

2026 Interim Report

SECTION 3 MANAGEMENT DISCUSSION AND ANALYSIS
3.

The risk of exchange rate and interest rate fluctuations

The functional currency of the Company is U.S. dollars, and some transactions of the Group are denominated in RMB or
foreign currencies such as Euro and Japanese Yen. Monetary items in foreign currencies are converted through bookkeeping
at the spot exchange rate on the balance sheet date, thus affecting exchange gains or losses. The Company adheres
to the principle of “exchange rate risk neutrality” by establishing an exchange rate risk management system, prudently
arranging the currency structure of monetary assets and liabilities, and utilising various exchange rate risk-avoiding tools
to hedge against the impact of exchange rate fluctuations. However, if the exchange rate of local and foreign currency
fluctuates significantly as a result of the changes in domestic and foreign economic environment, political situation,
monetary policy and other factors in the future, the Company will still face the risk of exchange losses.
The Company’s debt structure includes floating-rate debt instruments, which may expose relevant interest expenses to
market interest rate fluctuations. To better manage interest rate risks, the Company maintains an appropriate allocation
between fixed-rate and floating-rate debt. Additionally, it takes the use of financial derivatives such as interest rate
swaps to flexibly hedge against interest rate volatility. However, future significant fluctuations in market interest rates
caused by changes in domestic and international economic conditions, political landscapes, monetary policies, or other
factors may still expose the Company to risks of volatile interest expenses.

(IV) INDUSTRY RISKS

1.

The risk of changes in industry policies

As the foundation and core of the information industry, the IC industry is a strategic industry for national economic
and social development. The state has successively issued a series of policies including the “Notice of the State Council
on Launching Several Policies to Further Encourage the Development of the Software Industry and Integrated Circuit
Industry” (Guo Fa [2011] No.4) and the “Notice of the State Council regarding Certain Policies for Promoting the Highquality Development of the Integrated Circuit (IC) Industry and Software Industry in the New Era” (Guo Fa [2020] No.8)
which provide more support for IC companies in taxation, investment and financing, research and development, import
and export, talents, intellectual property rights, markets application, international cooperation, etc. In the future, any
material unfavorable changes in relevant national industrial policies will adversely affect the Company’s development.

2.

The risk of industry competition

From a global perspective, the competition in the wafer foundry industry is fierce. Compared with global industry leaders,
there remains a certain gap for the Company in technical capability, and the current market share is relatively limited.
In recent years, various new application areas in the chip industry have continued to emerge. Broad market prospects,
growing demand for localized production, and relatively favorable industrial policies, have attracted numerous domestic
and foreign enterprises to deploy their businesses in the integrated circuit wafer foundry industry. As a result, the
production capacity may fall into a state of structural oversupply, which could further intensify market competition.
In the future, if the Company fails to timely deliver competitive process technologies and platforms, it may face customer
loss and weakened pricing power, and the Company’s operating results will be adversely affected.

(V) MACRO-ENVIRONMENTAL RISKS

1.

The risk of macroeconomic fluctuations and industry cyclicity

Affected by the factors such as global macroeconomic fluctuations and industry prosperity, the IC industry has a certain
cyclicity. If the macro-economy fluctuates greatly or remains at a low point for a long time, the market demand of the
IC industry may also be affected; in addition, the fluctuation and downturn of downstream market demand may also
lead to decline in the demand for IC products, or due to the overheated investment and duplicate construction in the
semiconductor industry, the production capacity supply may exceed market demand when the prosperity is relatively
weak, which will affect the profitability of IC wafer foundries, and may have a certain adverse impact on the Company’s
operating results.

2.

The risk of geopolitics

As geopolitical conflicts intensify and international export controls tighten, the United States has introduced a series
of control policies to restrict exports of semiconductor manufacturing equipment and chips in recent years, and some
countries and regions have also introduced similar control measures, posing risks of uncertainty to the stability of the
global semiconductor market and chip supply chain.
The Company was added to the U.S. Entity List in 2020, and some of its affiliated companies were added to the U.S.
Entity List “Footnote 5” in 2024, bringing certain challenges to the Company’s supply chain security and business stability.
If export control measures of the United States and other countries/regions against China become more stringent in the
future, for example, with further tightening of license review policies, the Company may also face the risk of tight supply
on production materials, such as related restricted equipment, raw material, parts, software and service supports, and
the risk of business cooperation restriction, etc., which may adversely affect the Company’s R&D, production, operating
and business. In addition to the foregoing, some investors may be restricted by the requirements under the “Non-SDN
Chinese Military-Industrial Complex Entities List” (NS-CMIC List) issued by the U.S. Department of the Treasury, and may
not be able to purchase or sell the Company’s publicly issued securities.
The Company will strengthen its macroeconomic analysis, conduct in-depth analysis of domestic and international
semiconductor industry trends and developments, identify potential risks arising from export controls policies and other
policies, and actively deal with the potential impacts of changes in the external economic and policy environment on
the Company.

SMIC

2026 Interim Report

13

SECTION 3 MANAGEMENT DISCUSSION AND ANALYSIS
(VI) LEGAL RISKS

1.

The risk of differences between the Company’s current corporate governance structure
and that of the listed companies subject to the applicable laws, regulations and
regulatory documents in the PRC

The Company was established under the Companies Act of the Cayman Islands. In accordance with the Circular of the
General Office of the State Council on Forwarding the Several Opinions of the CSRC on Launching the Pilot Program of
Domestically Issuing Stocks or Depository Receipts by Innovation-oriented Enterprises (Guo Ban Fa [2018] No.21), the
pilot red-chip companies’ equity structure, corporate governance, and operation specifications may be governed by laws
and regulations such as the Company Law of the place of incorporation overseas. As a red-chip company registered in
the Cayman Islands, the Company is required to comply with the Companies Act of the Cayman Islands and the Articles
of Association, and has enhanced the corporate governance system and operation specifications in accordance with the
Hong Kong Listing Rules and SSE STAR Market Listing Rules. The Company’s protection of investors’ rights and interests
is generally no less exacting than legal requirements in the PRC. However, in certain corporate governance arrangements,
there are certain differences when compared with the general A Share listed companies registered in the PRC. For details,
please refer to “I. Introduction of Corporate Governance” in “Section 4 Corporate Governance, Environment and Society”.

2.

The risk of changes in laws and regulations

The Company was established in the Cayman Islands, and its subsidiaries were established in and outside the Chinese
Mainland. The Company and its subsidiaries should abide by different laws and regulations of different countries and
areas. Changes in laws and regulations of the places of registration and business of the Company and its subsidiaries
may have an impact on the operation and management of the Company and its subsidiaries.

3.

The risk of litigation and arbitration

The IC wafer foundry industry where the Company operates is a key link in driving the integration of the IC industry,
and the Company has a large number of customers and suppliers. In its future business development, the Company
cannot rule out risks of litigations and arbitrations with customers, suppliers, etc., which will consume the Company’s
manpower, material resources and distract management efforts. The Company may be exposed to the risk of losing the
lawsuit, which may in turn adversely affect the Company’s production and operation.

(VII) IT RISKS
The Company pays attention to the protection of core technology and customer information. According to the overall
strategic planning, the Company has organised an information security team, formulated information security policies
and objectives, and built security technology solutions.
To continuously reduce information technology risks, the Company relies on ISO 27001, the authoritative standards in the
field of information security management. The Company carries out information security governance and performs three
major tasks of anti-virus, anti-hacking and anti-leakage, establishing a comprehensive confidential information technology
protection and monitoring system. By strengthening the capabilities of the security team, optimizing various information
security technologies, and enhancing the security awareness of all employees through systematic measures, the Company
reduces security risks of key business, systems, and overall operations, ensuring compliance and protecting its reputation.
However, due to uncontrollable factors of the cyber security threats, including but not limited to Zero-Day Vulnerability,
professional hacker attacks etc., the Company still faces the potential risk of data loss, disruption of customer services
or production halt. If any of the above events happens, the business and reputation of the Company may be impacted
to some extent.

(VIII) RISKS OF FIRE, EXPLOSIONS, NATURAL DISASTERS AND UTILITY SUPPLY DISRUPTION
SMIC uses flammable, toxic and harmful chemical substances in its production process, which may cause risks of fire,
explosion or environmental impact. In addition, global climate change or systemic regional geological changes may cause
natural disasters such as extreme climate, weather and destructive earthquakes, which may bring risks such as cold waves,
floods, tsunamis, typhoons, droughts and earthquakes, which then may cause the risk of shortages or interruptions of
public utilities such as water supply, power supply and gas supply.
SMIC is committed to maintaining a comprehensive risk management system to protect natural resources and safeguard
people and assets. For all possible emergencies and natural disasters, the Company has developed comprehensive plans
and processes for risk prevention, emergency response, crisis management and business continuity, and regularly conducted
drills for emergency response plans, including disaster relief and personnel evacuation. All of our operating fabs have
been verified by our environmental management system (ISO 14001) and occupational safety and health management
system (ISO 45001), aiming to minimize personal injuries, operational disruptions and financial impacts.
Although none of these risks impacted our operations at our manufacturing facilities during the Reporting Period, these
risks still remain. If any of these risks occurs, it could result in some degree of property damage, injury to personnel,
business interruption and damage to the Company’s reputation.

14

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SECTION 3 MANAGEMENT DISCUSSION AND ANALYSIS

V. MAIN OPERATION RESULTS DURING THE REPORTING PERIOD
In the first half of 2026, the Group recorded a revenue of US$5,511.1 million and profit for the period attributable to
owners of the Company of US$676.6 million.

(I)

1.

ANALYSIS OF PRINCIPAL BUSINESSES

Analysis of changes in relevant items in the income statement and cash flow
statement
in USD’000
Six months ended

Revenue
Cost of sales
Gross profit
Research and development expenses
Selling and marketing expenses
General and administrative expenses
Other operating income
Finance income, net
Other gains/(losses), net
Share of profit or loss of associates and a joint venture
Income tax expense
Net cash generated from operating activities
Net cash used in investing activities
Net cash generated from financing activities

(1)

06/30/26

06/30/25

06/30/26 as
compared with
06/30/25 (%)

5,511,075
(4,246,832)
1,264,243
(395,619)
(23,764)
(238,170)
171,412
14,968
70,123
198,355
(101,286)
3,207,101
(3,967,839)
2,972,442

4,456,267
(3,500,600)
955,667
(330,811)
(24,301)
(338,211)
198,646
71,699
(1,186)
(21,083)
(39,575)
909,257
(2,887,129)
604,271

23.7
21.3
32.3
19.6
-2.2
-29.6
-13.7
-79.1
N/A
N/A
155.9
252.7
37.4
391.9

Revenue

The Group’s revenue increased by 23.7% from US$4,456.3 million for the Corresponding Period to US$5,511.1 million
for this period, primarily due to the increase in wafer shipment, higher average selling price and product mix change
for this period. The wafer shipment quantity (standard logic 8-inch equivalent wafers) increased by 14.9% from 4,682
thousand for the Corresponding Period to 5,379 thousand for this period. The average selling price, calculated as the
wafer revenue divided by total shipments of the wafers, was US$966 per wafer for this period, compared to US$903
per wafer for the Corresponding Period.

(2)

Cost of sales

Cost of sales increased by 21.3% from US$3,500.6 million for the Corresponding Period to US$4,246.8 million for this
period, primarily due to the increase in wafer shipment, the product mix change and the increase in depreciation.

(3)

Gross profit

Gross profit increased by 32.3% from US$955.7 million for the Corresponding Period to US$1,264.2 million for this
period, primarily due to the higher average selling price and product mix change for this period.

(4)

Profit from operations for the period

Profit from operations for the period increased from US$460.2 million for the Corresponding Period to US$782.0 million
for this period, primarily due to the combined effect of the changes of revenue, cost of sales and gross profit mentioned
above, and the following changes:
Research and development expenses were US$395.6 million for this period, compared to US$330.8 million for the
Corresponding Period.
Selling and marketing expenses were US$23.8 million for this period, compared to US$24.3 million for the Corresponding
Period.
General and administrative expenses were US$238.2 million for this period, compared to US$338.2 million for the
Corresponding Period. The change was primarily due to the decrease in start-up costs for this period.
Other operating income was US$171.4 million for this period, compared to US$198.6 million for the Corresponding Period.

(5)

Profit for the period

Finance income, net includes interest income, finance costs and foreign exchange gain. The change of finance income,
net was mainly due to the decrease in interest income and the increase in interest expenses for this period.
The change in other gains/(losses), net was primarily due to the increase in the gains from fair value change of the
investments in equity instruments and the gains arising from equity interests in associates being passively diluted for
this period.
The change in share of profit or loss of associates and a joint venture was primarily due to the increase in profit recognised
on investments in associates for this period.
The increase in income tax expense was primarily due to the increase in profit before tax for this period.
The Group had a profit of US$964.1 million for this period, compared to a profit of US$470.1 million for the Corresponding
Period, representing an increase of 105.1%, which was mainly due to the impact of the factors described above.

SMIC

2026 Interim Report

15

SECTION 3 MANAGEMENT DISCUSSION AND ANALYSIS
(6)

Cash flows

The change in net cash generated from operating activities was mainly due to the increase in cash received from sale
of goods for this period.
The change in net cash used in investing activities was mainly due to the increase in cash paid for equity investments
for this period.
The change in net cash generated from financing activities was mainly due to the receipt of capital injection from minority
shareholders for this period.

2.

Analysis of revenue
Revenue of principal businesses by region
Six months ended
06/30/26

By region

89.6%
8.7%
1.7%

China
America
Eurasia

06/30/25
84.2%
12.7%
3.1%

Analysis on revenue of IC wafer foundry
By application
Smartphone
Computer and Tablet
Consumer Electronics
Connectivity and IoT
Industrial and Automotive

By size
8” wafers
12” wafers

3.
(1)

Six months ended
06/30/26
17.8%
14.7%
45.1%
7.0%
15.4%
Six months ended
06/30/26
22.6%
77.4%

06/30/25
24.6%
16.2%
40.8%
8.3%
10.1%

06/30/25
22.9%
77.1%

Liquidity and capital sources
Net debt
in USD’000
As of
06/30/26

12/31/25

Borrowings
Lease liabilities

14,017,712
1,245

12,587,850
8,331

Total debt
Less:
Cash and cash equivalents
Financial assets at FVPL-current portion(1)
Financial assets at amortised cost(2)

14,018,957

12,596,181

8,216,015
85,206
5,555,394

5,872,500
380,857
5,682,865

162,342

659,959

Net debt
Notes:
(1)

Mainly include structural deposits and monetary funds.

(2)

Mainly include bank time deposits over three months.

At the end of the Reporting Period, the Group’s outstanding debt amounted to US$14,018.9 million, consisting of
secured bank loans of US$6,749.8 million, unsecured bank loans of US$7,267.9 million and lease liabilities of US$1.2
million. Debt due within 1 year amounted to US$5,150.8 million. For details of debt, please refer to Note 20 to the
consolidated financial statements.

(2)

Capital expenditure and funding sources

Most of the capital expenditure in the Reporting Period were used for capacity expansion.
The Group’s actual expenditure may differ from its planned expenditure for a variety of reasons, including factors such as
changes in customers’ demand, equipment’s delivery, business plan, market condition and industry policies. The Company
will closely monitor the global economy, the semiconductor industry, the demands of the customers, cash flow from
operations, etc. and will adjust the capital expenditure plans upon approval by the Board as necessary.
The primary sources of capital of the Group include cash generated from operations, bank borrowings and debt or
equity issuances, capital injections from minority interests and other forms of financing. The amount of capital required
to meet the Group’s growth and development targets is difficult to predict in the highly cyclical and rapidly changing
semiconductor industry.

16

SMIC

2026 Interim Report

SECTION 3 MANAGEMENT DISCUSSION AND ANALYSIS
(3)

Financial instruments used for hedging purposes

The Group utilises hedging instruments for cash flow hedging purposes: managing exchange rate risk by using financial
instruments such as forward exchange contracts and cross currency swap contracts; managing interest rate risk by using
interest rate swap contracts and cross currency swap contracts.
Details of the Group’s exchange rate risk and interest rate risk are set out in “IV. RISK FACTORS” in this section.

(II)

EXPLANATION ON SIGNIFICANT CHANGE IN PROFITS ARISING FROM NON-PRINCIPAL
BUSINESSES
in USD’000
If there is any
sustainability

Item

Amount

Explanations

Share of net gain arising from items
measured at FVPL of associates
and a joint venture

218,993

Primarily due to the increase in net gains
from certain investment portfolios of the
associates during the current period.

No

(III) ANALYSIS ON ASSETS AND LIABILITIES

1.

Assets and liabilities

in USD’000
The balance
as of 06/30/26 as
compared
12/31/25 to
with
the total
assets (%) 12/31/25 (%)

As of
06/30/26

The balance
as of
06/30/26 to
the total
assets (%)

As of
12/31/25

Investments in
associates

2,501,476

4.4

1,309,570

2.5

91.0

Increase due to the increase
in investments in associates
during this period.

Financial assets
at fair value
through profit
or loss – noncurrent

1,359,264

2.4

810,501

1.6

67.7

Increase due to the increase
in equity instruments
investment during this
period.

Financial assets at
amortised cost –
non-current

1,065,898

1.9

1,532,265

2.9

-30.4

Decrease due to the maturity
of certain long-term time
deposits during this period.

Derivative financial
instruments –
net assets

11,841

0.0

68,157

0.1

-82.6

The change was mainly due
to the change in cross
currency swap contracts
during this period.

Financial assets
at fair value
through profit
or loss – current

85,206

0.1

380,857

0.7

-77.6

Decrease due to the decrease
in structural deposits
during this period.

Cash and cash
equivalents

8,216,015

14.4

5,872,500

11.2

39.9

Increase mainly due to the
increase in cash received
from sale of goods during
this period.

Borrowings –
current

5,150,096

9.0

2,593,077

5.0

98.6

Increase mainly due to the
increase in short-term bank
borrowings and long-term
borrowings maturing within
1 year during this period.

Items

Explanations

2. Major assets subject to restriction by the end of the Reporting Period
(1) Assets pledged as security
At the end of the Reporting Period, no property, plant and equipment or land-use right have been pledged to secure
borrowings of the Group.

(2)

Restricted cash

At the end of the Reporting Period, the Group did not have any restricted cash.

SMIC

2026 Interim Report

17

SECTION 3 MANAGEMENT DISCUSSION AND ANALYSIS
3.
(1)

Other information
Capital management

The Group manages its capital to ensure that entities of the Group will be able to continue as going concerns while
maximising the return to stakeholders through the optimization of the capital structure.
The Group manages its capital through the issue of new shares, share buy-backs, the issue of new bonds or the repayment
of existing bonds to balance its overall capital structure, and reviews the capital structure on an interim basis. The gearing
ratio at the end of the Reporting Period was as follows:

in USD’000
As of
06/30/26

Gearing ratio
Net debt
Equity
Net debt to equity ratio

(2)

12/31/25

162,342
37,857,388

659,959
35,020,523

0.4%

1.9%

Capitalised interest

Capitalised interest is added to the cost of the underlying assets and is depreciated over as accounting policy. No
interest was capitalised during the Reporting Period and the Corresponding Period. For the Reporting Period and the
Corresponding Period, the Group recorded depreciation expenses relating to the capitalised interest of US$0.3 million
and US$5.2 million, respectively.

(3)

Future plans for material investments or acquisition of capital assets

Save for the matters disclosed in this report, as at the end of the Reporting Period, the Group has no other plans for
material investments or acquisition of capital assets.

(IV) ANALYSIS ON INVESTMENTS

1.

Overall analysis on equity investment

The following is the paid-in amount of the Company’s investment in associates during the Reporting Period:

in USD’000
06/30/26

Six months ended
06/30/25

Change

957,586

77,776

1,131.2%

Capital injection in associates

2.

Financial assets at fair value
in USD’000
Fair value
gains/(losses)
during this
period
As of 1/1/26

Assets category
Stocks
Private equity funds
Structural deposits and
monetary funds
Derivative financial
instruments – net assets
Other equity instruments
Total

(1)

Cumulative
changes in
fair value
recognised in
equity

Amount Amount sold/
added in this redeemed in
this period
period

Others

As of
06/30/26

29
131,941
380,857

(1)
38,327
2,041

–
–
–

–
–
67,716

–
(8,280)
(367,790)

–
4,046
2,382

28
166,034
85,206

68,157

–

150,365

–

–

(206,681)

11,841

678,531

–

–

514,671

–

–

1,193,202

1,259,515

40,367

150,365

582,387

(376,070)

(200,253)

1,456,311

Descriptions of securities investment
in USD’000

18

SMIC

Security type

Stock code

Domestic and foreign stocks

Listed Company A

2026 Interim Report

Investment
cost as of
06/30/26 Source of funds
1,176 Self-owned funds

Amount
Fair value
As of losses during sold in this
period
this period
1/1/26
29

(1)

–

Others
–

As of
06/30/26 Account
28 Financial assets at fair value
through profit or loss

SECTION 3 MANAGEMENT DISCUSSION AND ANALYSIS
(2) Descriptions of derivative financial instruments
Derivative financial instruments for hedging purpose during the Reporting Period
in USD’000
The closing
balance to equity
attributable to
owners of the
Company (%)

As of 1/1/26

Cumulative
changes in
fair value
recognised
in equity

Others

As of 06/30/26

Cross currency swap contracts
Forward exchange contracts

65,157
3,000

144,043
6,322

(199,596)
(7,085)

9,604
2,237

0.04
0.01

Total

68,157

150,365

(206,681)

11,841

0.05

Derivative financial instruments types

Explanation for principles regarding
accounting policies and methods of
hedging transactions during the Reporting
Period, and if any significant change
occurred as compared with the previous
period

Hedge accounting is adopted during the Reporting Period. The portion of gains or losses from hedging instruments
that are effective in hedging are directly recognised as other comprehensive income, while the portion that is
ineffective in hedging is recognised as profit or loss for the current period. There was no significant change in the
accounting policies and specific accounting principles for this period.

Explanation for actual gains or losses during
the Reporting Period

Transactions of derivatives entered by the Company during the Reporting Period were all for hedging management
purposes, and changes in fair value were recognised in other comprehensive income, with no actual impact on
profit or loss for the current period.

Explanation of hedging effect

Please refer to the Announcement of Conducting Hedging Activities in 2026 on the website of SSE (https://www.sse.
com.cn) dated May 15, 2026.

Sources of funds for derivative financial
instruments

Please refer to the Announcement of Conducting Hedging Activities in 2026 on the website of SSE (https://www.sse.
com.cn) dated May 15, 2026.

Explanation for risk analysis and control
measures for derivatives during the
Reporting Period (including but not
limited to market risk, liquidity risk, credit
risk, operational risk, legal risk, etc.)

Please refer to the Announcement of Conducting Hedging Activities in 2026 on the website of SSE (https://www.sse.
com.cn) dated May 15, 2026.

Changes in the market price or product fair
value of invested derivatives during the
Reporting Period; methods assumptions
and parameters used for analysing fair
value of derivatives shall be disclosed

The Company followed the regulations and guidelines, namely “IFRS 7 – Financial Instruments: Disclosures”, “IFRS 9
– Financial Instruments”, “IFRS 13 – Fair Value Measurement”, to conduct its corresponding accounting treatment
for the proposed foreign exchange hedging activities and reflect in the relevant items of statement of financial
position and statement of profit or loss.

Disclosure date for announcement on
approval of the Board for investment in
derivative financial instruments (if any)

On May 14, 2026, the Board of the Company approved “Proposal for Conducting Hedging Activities in 2026”,
allowing the Company and its subsidiaries to operate hedging activities relating to production and operation in
2026.

Disclosure date for announcement on
approval of the annual general meeting
for investment in derivative financial
instruments (if any)

The above “Proposal for Conducting Hedging Activities in 2026” was approved at the Company’s general meeting of
shareholders on June 26, 2026.

SMIC

2026 Interim Report

19

SECTION 3 MANAGEMENT DISCUSSION AND ANALYSIS
(3)

Descriptions of investment in private equity funds
in USD’000
Capital
contribution
ratio as of
Investment
06/30/26
cost as of Participation
(%)
06/30/26
role

Signing time
of investment Investment
purpose
Name agreement

Total proposed
investment

Investment
cost
during the
Reporting
Period

A

March 2011

US$1,000,000

–

17

1.27

B

September 2014

RMB100,000,000

–

–

–

C

September 2016

RMB13,000,000

–

46

3.61

D

May 2017

RMB30,000,000

–

–

–

E

March 2018

RMB100,000,000

–

1,741

9.05

F

April 2018

RMB165,000,000

–

4,328

10.21

G

June 2018

RMB50,000,000

–

484

H

August 2020

RMB50,000,000

–

1,486

30.12

I

October 2021

RMB30,000,000

–

2,589

3.00

J

November 2021

RMB200,000,000

–

29,337

24.84

K

December 2021

RMB100,000,000

–

14,669

17.21

L

December 2022

RMB100,000,000

–

7,334

20.75

M

October 2023

RMB7,500,000

–

1,100

15.00

N

May 2024

RMB200,000,000

–

8,801

19.02

–

71,932

Financial
investment

Total

Limited partner

16.53

Whether
control
or exert
significant
influence
over the
fund
Account

No

Financial assets
at fair value
through profit
or loss

Effect
on profit
for the Accumulated
Related
effect on
Reporting
parties or
profit
not
Fund underlying assets Period

No

Invest in integrated
circuits and related
industries
Invest in integrated
circuits and related
industries
Invest in strategic
emerging industries
Invest in integrated
circuits and related
industries
Invest in integrated
circuits and related
industries
Invest in integrated
circuits and related
industries
Invest in strategic
emerging industries
Invest in integrated
circuits industry
Invest in regional
strategic emerging
industries
Invest in strategic
emerging industries
Invest in strategic
emerging industries
Invest in strategic
emerging industries
Invest in regional
strategic emerging
industries
Invest in integrated
circuits and related
industries

459

4,044

6

18,352

(363)

6,296

(1)

1,630

(1,980)

12,971

9,183

14,367

(1,019)

3,197

–

14,258

(56)

210

34,702

46,303

(1,415)

1,770

178

436

(30)

(22)

(878)

(878)

38,786

122,934

None of the investments has a value of 5% or more of the Company’s total assets as at June 30, 2026.

(V) ANALYSIS OF PRINCIPAL CONTROLLED AND INVESTEE COMPANIES
The major subsidiaries of the Company are SMIC Shanghai, SMIC Beijing, SMIC Tianjin, SMNC, SMIC Shenzhen, SMSC,
SMBC, SMOC and SMTC. The followings are the consolidated accounting data of the major subsidiaries:
Total assets

Equity

Revenue

Profit before tax

55,392,912

35,556,668

5,506,026

912,776

in USD’000
Profit for the period
876,441

The Company has no investee companies whose impact on the Company’s profit for the period exceeds 10%.

VI. PROSPECTS
Looking ahead to the second half of this year, the industrial momentum and spillover effects generated by AI will persist,
driving demand for integrated circuit manufacturing. The Company will flexibly allocate existing capacity and accelerate
the qualification of newly added capacity to help ease supply constraints across the industry chain.
At the same time, we also observe that pressure on upward supply‑chain costs has been passed through to the
manufacturing segment. The Company will proactively address these challenges and mitigate headwinds to minimize the
overall impact. Overall, we maintain an optimistic outlook on industry trends and the Company’s development.

20

SMIC

2026 Interim Report

SECTION 4 CORPORATE GOVERNANCE, ENVIRONMENT AND
SOCIETY
I.

INTRODUCTION OF CORPORATE GOVERNANCE
The Company is committed to remaining an exemplary corporate citizen and maintaining a high level of corporate
governance in order to protect the interests of its shareholders. The Company is committed to complying with the Corporate
Governance Code (the “CG Code”) as set out in Appendix C1 to the Hong Kong Listing Rules and has adopted a set
of Corporate Governance Policy (the “CG Policy”) since January 25, 2005 as its code of corporate governance, which is
amended from time to time (latest amended on May 8, 2025) to comply with the CG Code. In addition, the Company
has adopted or put in place various policies, rules and procedures in compliance with the provisions of the CG Policy.
The Company had complied with all applicable Code Provisions set out in the CG Code during the six months ended
June 30, 2026. The current corporate governance situation is as follows:
The Company, being a red chip company established in the Cayman Islands and listed on the Hong Kong Stock Exchange
and the Science and Technology Innovation Board of the Shanghai Stock Exchange, has formulated the Articles of
Association in accordance with the requirements of the laws of the Cayman Islands and taking into account the actual
circumstances.
At the same time, the Company strictly complies with the Hong Kong Listing Rules and the SSE STAR Market Listing
Rules, and has developed a well-established corporate governance structure. The general meeting of shareholders and
the Board of Directors of the Company operate independently and effectively and perform their duties in accordance
with the laws of the Cayman Islands, the Hong Kong Listing Rules, the SSE STAR Market Listing Rules, the Articles of
Association and other regulations.
The standing special committees of the Board of Directors of the Company include the Audit Committee, the Compensation
Committee, the Nomination Committee and the Strategic Committee, which assist the Board of Directors in discharging
its functions in the areas of audit, compensation, nomination and strategy respectively.
In addition, the Company currently employs four professionals as independent non-executive Directors of the Company
to participate in decision-making and supervision, so as to enhance the objectivity and scientificity of the decision-making
process of the Board. The independent non-executive Directors of the Company have been performing their duties in
accordance with the Hong Kong Listing Rules and the standards generally recognised by the Hong Kong securities market.

II. UPDATES ON INFORMATION RELATING TO DIRECTORS AND CHIEF EXECUTIVES
As required under rule 13.51B of the Hong Kong Listing Rules, save as disclosed in the 2025 annual report, certain
changes in, and updates on, the information during the Reporting Period and up to the date of this report, regarding
the Directors and chief executives are set out below:
Name

Name of entities

Position

Commencement
date of term

Cessation
date of term

Chen Xinyuan

Bank of Ningbo Co., Ltd.

Independent Director

July, 2026

–

III. PARTICULARS OF EMPLOYEES
Save as disclosed in this interim report, there is no material change to the information disclosed in the 2025 annual
report of the Group in relation to the number and remuneration of employees, remuneration policies, employee bonus
and stock incentive plans.

IV. PROFIT DISTRIBUTION PLAN OR PLAN TO CONVERT CAPITAL RESERVE INTO SHARE
CAPITAL
The Board did not propose to declare an interim dividend for the six months ended June 30, 2026 (six months ended
June 30, 2025: nil).

SMIC

2026 Interim Report

21

SECTION 4 CORPORATE GOVERNANCE, ENVIRONMENT AND SOCIETY

V. INFORMATION ABOUT THE COMPANY’S STOCK INCENTIVE PLANS, EMPLOYEE
EQUITY INCENTIVE PLAN OR OTHER EMPLOYEE INCENTIVE MEASURES AND THEIR
IMPACTS
(I)

22

SMIC

RELEVANT SHARE INCENTIVE EVENTS THAT HAVE BEEN DISCLOSED IN THE TEMPORARY
ANNOUNCEMENTS AND WITH NO PROGRESS OR CHANGE IN SUBSEQUENT IMPLEMENTATION

Summary of the event

Index

Issue of ordinary shares pursuant to exercise of Restricted Share
Units granted under the 2014 Equity Incentive Plan other than
by directors of the Company; issue of ordinary shares pursuant
to exercise of options granted under the 2014 Stock Option Plan
other than by directors of the Company.

Next day disclosure return on the Hong
Kong Stock Exchange: January 14, 2026

Issue of ordinary shares pursuant to exercise of Restricted Share
Units granted under the 2014 Equity Incentive Plan other than
by directors of the Company; issue of ordinary shares pursuant
to exercise of options granted under the 2014 Stock Option Plan
other than by directors of the Company.

Next day disclosure return on the Hong
Kong Stock Exchange: February 13, 2026

Issue of ordinary shares pursuant to exercise of Restricted Share
Units granted under the 2014 Equity Incentive Plan other than
by directors of the Company; issue of ordinary shares pursuant
to exercise of options granted under the 2014 Stock Option Plan
other than by directors of the Company.

Next day disclosure return on the Hong
Kong Stock Exchange: March 3, 2026

Issue of ordinary shares pursuant to exercise of Restricted Share
Units granted under the 2024 Equity Incentive Plan other than by
directors of the Company; issue of ordinary shares pursuant to
exercise of Restricted Share Units granted under the 2014 Equity
Incentive Plan other than by directors of the Company; issue of
ordinary shares pursuant to exercise of options granted under the
2014 Stock Option Plan other than by directors of the Company.

Next day disclosure return on the Hong
Kong Stock Exchange: March 6, 2026

Issue of ordinary shares pursuant to exercise of Restricted Share
Units granted under the 2024 Equity Incentive Plan other than by
directors of the Company.

Next day disclosure return on the Hong
Kong Stock Exchange: March 10, 2026

On April 1, 2026, the Company granted Restricted Share Units under
the 2024 Equity Incentive Plan.

For details, please see the GRANT OF
RESTRICTED SHARE UNITS as disclosed
on the website of the Hong Kong Stock
Exchange (https://www.hkexnews.hk) on
April 1, 2026

Issue of ordinary shares pursuant to exercise of Restricted Share
Units granted under the 2024 Equity Incentive Plan by directors
of the Company; issue of ordinary shares pursuant to exercise of
Restricted Share Units granted under the 2024 Equity Incentive
Plan other than by directors of the Company; issue of ordinary
shares pursuant to exercise of Restricted Share Units granted under
the 2014 Equity Incentive Plan other than by directors of the
Company; issue of ordinary shares pursuant to exercise of options
granted under the 2014 Stock Option Plan other than by directors
of the Company.

Next day disclosure return on the Hong
Kong Stock Exchange: April 8, 2026

Issue of ordinary shares pursuant to exercise of Restricted Share
Units granted under the 2024 Equity Incentive Plan other than by
directors of the Company; issue of ordinary shares pursuant to
exercise of Restricted Share Units granted under the 2014 Equity
Incentive Plan other than by directors of the Company; issue of
ordinary shares pursuant to exercise of options granted under the
2014 Stock Option Plan other than by directors of the Company.

Next day disclosure return on the Hong
Kong Stock Exchange: April 9, 2026

Issue of ordinary shares pursuant to exercise of Restricted Share
Units granted under the 2024 Equity Incentive Plan other than
by directors of the Company; issue of ordinary shares pursuant
to exercise of options granted under the 2014 Stock Option Plan
other than by directors of the Company.

Next day disclosure return on the Hong
Kong Stock Exchange: June 4, 2026

2026 Interim Report

SECTION 4 CORPORATE GOVERNANCE, ENVIRONMENT AND SOCIETY
Summary of the event

Index

Issue of ordinary shares pursuant to exercise of options granted
under the 2014 Stock Option Plan other than by directors of the
Company.

Next day disclosure return on the Hong
Kong Stock Exchange: June 24, 2026

Issue of ordinary shares pursuant to exercise of Restricted Share
Units granted under the 2024 Equity Incentive Plan other than by
directors of the Company; issue of ordinary shares pursuant to
exercise of Restricted Share Units granted under the 2014 Equity
Incentive Plan other than by directors of the Company; issue of
ordinary shares pursuant to exercise of options granted under the
2014 Stock Option Plan other than by directors of the Company.

Next day disclosure return on the Hong
Kong Stock Exchange: June 29, 2026

Issue of ordinary shares pursuant to exercise of Restricted Share
Units granted under the 2014 Equity Incentive Plan other than
by directors of the Company; issue of ordinary shares pursuant
to exercise of options granted under the 2014 Stock Option Plan
other than by directors of the Company.

Next day disclosure return on the Hong
Kong Stock Exchange: June 30, 2026

As the 2014 Stock Option Plan and the 2014 Equity Incentive Plan were terminated on November 10, 2023, there have
been no stock options or awards available for grant under the respective plan since its termination. In addition, the
Company had undertaken not to issue or grant further restricted shares under the 2021 STAR Market Restricted Share
Incentive Scheme upon the effective date of the 2024 Equity Incentive Plan (i.e. November 10, 2023). Accordingly, under
the aforesaid shares schemes, there were no stock options or awards available for grant at the beginning and the end
of this period. Under the 2024 Equity Incentive Plan, there were 585,542,511 RSUs available for grant at the beginning
of this period, and there were 567,441,874 RSUs available for grant at the end of this period.
During this period, the number of Hong Kong Shares that may be issued in respect of all options and awards granted
under all Hong Kong Share schemes (including the 2014 Stock Option Plan, the 2014 Equity Incentive Plan and the
2024 Equity Incentive Plan) of the Company divided by the weighted average number of Hong Kong Shares in issue at
the end of this period is 0.31%.
During this period, the number of A Shares that may be issued in respect of the awards granted under the A Share
scheme (i.e. the 2021 STAR Market Restricted Share Incentive Scheme) of the Company divided by the weighted average
number of A Shares in issue for this period is 0.05%.
During this period, there were no options or awards granted under the 2014 Stock Option Plan, the 2014 Equity Incentive
Plan and the 2021 STAR Market Restricted Share Incentive Scheme. There were 18,298,455 RSUs granted under the
2024 Equity Incentive Plan on April 1, 2026 with fair value of HKD52.82 which was based on ordinary share price on
the grant date. Such RSUs granted had been or will be vested in accordance with the vesting period as disclosed in
the Company’s announcement dated April 1, 2026. The grant of RSUs during this period shall be conditional upon the
achievement of certain targets based on both the Company’s and individual performance indicators, including but not
limited to revenue, profit, project completion status and other relevant indicators. Each target can be presented on an
absolute and/or a relative basis.
Please refer to Note 4 to the consolidated financial statements in the 2025 annual report of the Group published on
April 8, 2026 for the accounting standards and policies adopted for options and RSUs, and please refer to Note 22 to
the consolidated financial statements in this interim report for the fair value on the grant date.

1.

2014 Stock Option Plan – Hong Kong Share

The Company’s shareholders adopted the 2014 Stock Option Plan that became effective on November 15, 2013 when
the 2014 Stock Option Plan was registered with the PRC State Administration of Foreign Exchange.
Movement of the options granted to employees of the Group (except Directors of the Company) under the 2014 Stock
Option Plan during the six months ended June 30, 2026 is as follows:

Unit: Share

Options grant date
5/25/2016
5/22/2017
9/7/2017
5/23/2018
5/25/2020
11/23/2020
5/31/2021
9/15/2021
11/19/2021
Total

Number of
new grants
during the
Reporting
Period

Lapsed
number
during the
Reporting
Period

Cancelled
number
during the
Reporting
Period

Exercised
number
during the
Reporting
Period

30,450
6,937
1,687,500
1,564,225
2,386,116
862,327
1,263,012
77,500
1,283,629

–
–
–
–
–
–
–
–
–

30,450
–
–
–
–
22,209
–
–
9,768

–
–
–
–
–
–
–
–
–

–
–
–
153,500
97,150
117,185
74,697
–
116,725

9,161,696

–

62,427

–

559,257

Exercise price
at grant date Unexercised
per share number as of
(HKD)
1/1/2026
6.42
8.48
7.90
10.51
18.10
23.00
24.50
23.18
22.41

Weighted
average closing
price of Hong
Kong Shares
immediately Unexercised
before exercise number as of
dates (HKD) 06/30/2026
–
–
–
75.44
81.22
72.67
74.75
–
75.72

Closing price
of Hong
Kong Shares
immediately
before grant
dates (HKD)

–
6,937
1,687,500
1,410,725
2,288,966
722,933
1,188,315
77,500
1,157,136

6.50
8.35
7.83
10.40
16.92
22.75
24.15
22.95
22.35

Exercisable period
5/25/2016-5/24/2026
5/22/2017-5/21/2027
9/7/2017-9/6/2027
5/23/2018-5/22/2028
5/25/2020-5/24/2030
11/23/2020-11/22/2030
5/31/2021-5/30/2031
9/15/2021-9/14/2031
11/19/2021-11/18/2031

8,540,012

SMIC

2026 Interim Report

23

SECTION 4 CORPORATE GOVERNANCE, ENVIRONMENT AND SOCIETY
Options granted before January 1, 2018 and issued to new employees and then-existing employees available for
subscription generally vest at a rate pursuant to which 25% of the shares shall vest on the first anniversary of the vesting
commencement date, an additional 1/36 of the remaining shares shall vest monthly upon the second, third and fourth
anniversary of the vesting commencement date, respectively.
Options granted after January 1, 2018 and issued to new employees and existing employees available for subscription
generally vest at a rate of 25% upon the first, second, third and fourth anniversary of the vesting commencement date,
respectively.
In accordance with the terms of the 2014 Stock Option Plan, the Board and the Compensation Committee may respectively
approve to accelerate the vesting period of the stock options granted to the Directors of the Company and employees
of the Group.
As the 2024 Equity Incentive Plan has been approved at the annual general meeting held on June 28, 2023 and the
Board has resolved to terminate the 2014 Stock Option Plan, the 2014 Stock Option Plan shall become expired on the
effective date of the 2024 Equity Incentive Plan. Upon termination of the 2014 Stock Option Plan, no further options
may be offered, but the options granted before the termination shall be retained and continue to vest in accordance
with, and subject to the terms of the 2014 Stock Option Plan.

2.

2014 Equity Incentive Plan – Hong Kong Share

The Company’s shareholders adopted the 2014 Equity Incentive Plan that became effective on November 15, 2013 when
the 2014 Equity Incentive Plan was registered with the PRC State Administration of Foreign Exchange.
Movement of the RSUs granted to employees of the Group (except Directors of the Company) under the 2014 Equity
Incentive Plan during the six months ended June 30, 2026 is as follows:

Unit: Share

RSUs grant date

Unvested
Purchase price number as of
1/1/2026
per share (HKD)

4/8/2022
5/20/2022
9/5/2022
11/18/2022
4/1/2023

0.031
0.031
0.031
0.031
0.031

Total

Number of
Cancelled Vested number
new grants Lapsed number
during the
during the number during
during the
Reporting
Reporting the Reporting
Reporting
Period
Period
Period
Period

1,168,574
29,993
43,403
111,676
70,221

–
–
–
–
–

23,140
–
–
–
–

–
–
–
–
–

1,145,434
29,993
43,403
–
–

1,423,867

–

23,140

–

1,218,830

Weighted
average
closing price
of Hong
Kong Shares
immediately
before vesting
dates (HKD)

Unvested
number as of
06/30/2026

Closing price
of Hong
Kong Shares
immediately
before grant
dates (HKD)

68.00
70.95
68.81
–
–

–
–
–
111,676
70,221

16.80
15.88
15.00
17.40
18.60

Vesting period
11/1/2021-3/1/2026
1/4/2022-2/9/2026
4/1/2022-6/28/2026
8/29/2022-9/27/2026
10/9/2022-1/16/2027

181,897

The RSUs issued before April 1, 2023 to new employees and existing employees generally vest at a rate of 25% upon
the first, second, third and fourth anniversary of the vesting commencement date, respectively.
The RSUs issued after April 1, 2023 (included) to existing employees generally vest at a rate of 50%, 30%, 20% on the
vesting commencement date and on the subsequent first and second anniversary, respectively.
In accordance with the terms of the 2014 Equity Incentive Plan, the Compensation Committee may approve to accelerate
the vesting period of the RSUs granted to the Directors of the Company and the employees of the Group.
As the 2024 Equity Incentive Plan has been approved at the annual general meeting held on June 28, 2023 and the
Board has resolved to terminate the 2014 Equity Incentive Plan, the 2014 Equity Incentive Plan shall become expired
on the effective date of the 2024 Equity Incentive Plan. Upon termination of the 2014 Equity Incentive Plan, no further
RSUs may be offered, but RSUs granted before the termination shall be retained and continue to vest in accordance
with, and subject to the terms of the 2014 Equity Incentive Plan.

3.

2021 STAR Market Restricted Share Incentive Scheme – A Share

On June 25, 2021, the Company’s general meeting adopted the 2021 STAR Market Restricted Share Incentive Scheme.
Movement of restricted shares granted under the 2021 STAR Market Restricted Share Incentive Scheme to employees of
the Group (except Directors of the Company) during the six months ended June 30, 2026 is as follows:

Unit: Share

Restricted Shares grant date
6/21/2022
Total

Number of
new grants
during the
Reporting
Period

Lapsed
number
during the
Reporting
Period

Cancelled
number
during the
Reporting
Period

Vested
number
during the
Reporting
Period

1,095,840

–

48,960

–

–

1,095,840

–

48,960

–

–

Unvested
Grant price
per share number as of
1/1/2026
(RMB)
20.00

Weighted
average
closing price
of A Shares
immediately
Unvested
before
vesting dates number as of
(RMB) 06/30/2026
–

1,046,880

Closing price
of A Shares
immediately
before grant
dates (RMB)
45.68

Vesting period
6/22/2023-6/18/2027

1,046,880

The Company had undertaken not to grant further restricted share under the 2021 STAR Market Restricted Share
Incentive Scheme.

24

SMIC

2026 Interim Report

SECTION 4 CORPORATE GOVERNANCE, ENVIRONMENT AND SOCIETY
4.

2024 Equity Incentive Plan – Hong Kong Share

The Company’s shareholders adopted the 2024 Equity Incentive Plan that became effective on November 10, 2023 when
the 2024 Equity Incentive Plan was registered with the PRC State Administration of Foreign Exchange.
Movement of the RSUs granted to employees of the Group (except Directors of the Company) under the 2024 Equity
Incentive Plan during the six months ended June 30, 2026 is as follows:

Unit: Share

RSUs grant date

Number of
new grants
during the
Reporting
Period

Lapsed
number
during the
Reporting
Period

Cancelled
number
during the
Reporting
Period

Vested
number
during the
Reporting
Period

1,490,535
1,330,834
–

–
–
18,180,472

24,777
40,596
132,445

–
–
–

1,465,758
786,431
9,093,176

2,821,369

18,180,472

197,818

–

11,345,365

Consideration
Unvested
for the grant
per share number as of
1/1/2026
(HKD)

4/1/2024
4/1/2025
4/1/2026

0.031
0.031
0.031

Total

Weighted
average
closing price
of Hong
Kong Shares
immediately
Unvested
before
vesting dates number as of
(HKD) 06/30/2026
50.70
50.70
50.70

Closing price
of Hong
Kong Shares
immediately
before grant
dates (HKD)

Vesting period

15.16
46.10
50.70

4/1/2024-4/1/2026
4/1/2025-4/1/2027
4/1/2026-4/1/2028

–
503,807
8,954,851
9,458,658

Part of employees of the Group participate in the Company’s 2024 Equity Incentive Plan. The RSUs issued to participants
by the Group generally vest at a rate of 50%, 30%, 20% on the vesting commencement date and on the subsequent
first and second anniversary, respectively.
According to the terms of the 2024 Equity Incentive Plan, the Compensation Committee may approve the acceleration
of the vesting period of RSUs granted to Directors of the Company and employees of the Group.

VI. COMPLIANCE WITH THE MODEL CODE FOR SECURITIES TRANSACTIONS BY
DIRECTORS OF LISTED ISSUERS
The Company has developed the Management System and Implementation Rules for Insiders which encompasses the
requirements of the Model Code for Securities Transactions by Directors of Listed Issuers as set out in Appendix C3 to
the Hong Kong Listing Rules (the “Model Code”). The Company, having made specific enquiry to all Directors, received
confirmation that all Directors have complied with the Model Code and the Management System and Implementation
Rules for Insiders of the Company throughout the six months ended June 30, 2026.
All directors, senior management, and employees of the Company and its subsidiaries are also required to comply with
the Management System and Implementation Rules for Insiders of the Company and relevant provisions stipulated by
CSRC and SSE in relation to inside trading.

VII. REVIEW BY AUDIT COMMITTEE
The Audit Committee has reviewed with the management of the Company the accounting principles and practices
accepted by the Company and the unaudited interim financial report of the Company for 2026.

VIII. ENVIRONMENTAL INFORMATION OF THE LISTED COMPANY AND ITS MAJOR
SUBSIDIARIES INCLUDED IN THE MANDATORY ENVIRONMENTAL INFORMATION
DISCLOSURE LIST
Number of the entities included in the mandatory
environmental information disclosure list

6

No.

Name of entity

Inquiry index of the mandatory environmental
information report

1
2
3
4
5
6

SMOC
SMIC Beijing
SMNC
SMBC
SMIC Shenzhen
SMIC Tianjin

https://e2.sthj.sh.gov.cn/jsp/view/hjpl/index.jsp
https://hjxxpl.bevoice.com.cn:8002/home
https://hjxxpl.bevoice.com.cn:8002/home
https://hjxxpl.bevoice.com.cn:8002/home
https://gdee.gd.gov.cn/gdeepub/front/dal/dal/newindex
https://hjxxpl.sthj.tj.gov.cn:10800/#/gkwz/jcym

SMIC

2026 Interim Report

25

SECTION 5 SIGNIFICANT EVENTS
I.

PERFORMANCE OF UNDERTAKINGS
(I)

UNDERTAKINGS OF THE COMPANY’S SHAREHOLDERS, RELATED PARTIES, ACQUIRER AND
THE COMPANY DURING OR SUBSISTING TO THE REPORTING PERIOD

Background
of the
undertaking
Commitments
in relation
to the
initial public
offering

Type of the
undertaking

Undertaking party

Whether
performed
timely and
strictly

Substantial shareholders,
domestic shareholders
indirectly holding over
5% of shares

See note 1

July 16, 2020

Effective for a
long time

No

Yes

N/A

N/A

Resolve related
(connected)
transaction

The Company, substantial
shareholders, domestic
shareholders indirectly
holding over 5% of
shares, Directors and
senior management
personnel
The Company

See note 2

July 16, 2020

Effective for a
long time

No

Yes

N/A

N/A

See note 3

July 16, 2020

Effective for a
long time

No

Yes

N/A

N/A

See note 4

July 16, 2020

Effective for a
long time

No

Yes

N/A

N/A

See note 5

July 16, 2020

Effective for a
long time

No

Yes

N/A

N/A

See note 6

July 16, 2020

No

Yes

N/A

N/A

See note 7

July 16, 2020

Effective for a
long time
Effective for a
long time

No

Yes

N/A

N/A

See note 8

July 16, 2020

Effective for a
long time

No

Yes

N/A

N/A

See note 9

July 16, 2020

Effective for a
long time

No

Yes

N/A

N/A

Other (commitment
to bear
compensation or
liability according
to law)

The Company, substantial
shareholders, domestic
shareholders indirectly
holding over 5% of
shares, Directors and
senior management
personnel
Other (binding
The Company, substantial
measures should
shareholders, domestic
the commitments
shareholders indirectly
be violated)
holding over 5% of
shares, Directors and
senior management
personnel
Other (commitments The Company, Directors
on applicable laws
and senior management
and competent
personnel
courts)

SMIC

Term of the
undertaking

Whether
there is a
term for
performance

Further plans
in the event
of failing
to timely
honor the
undertaking

Resolve peer
competition

Other (share
repurchase and
commitment on
share repurchase)
Other (share
The Company, substantial
repurchase
shareholders, domestic
commitment for
shareholders indirectly
fraudulent offering holding over 5% of
and listing)
shares
Other (commitment The Company, Directors
to remedy diluted
and senior management
immediate returns) personnel
Dividends
The Company

26

Details
of the
Time of the
undertaking undertaking

Specific
reasons for
the failure
to timely
honor the
undertaking

2026 Interim Report

SECTION 5 SIGNIFICANT EVENTS

Background
of the
undertaking
Commitments
in connection
with the
material asset
restructuring

Type of the
undertaking

Undertaking party

Share lock-up

China IC Fund, Beijing
Semiconductor
Manufacturing and
Equipment Equity
Investment Center
(Limited Partnership),
Beijing E-town
International Investment
and Development Co.,
Ltd., Zhongguancun
Development Group
Co., Ltd. and Beijing
Industrial Development
Investment Management
Co., Ltd. (collectively
referred to as the
“Counterparties”)
Others (commitment The Company and
on the
its Directors and
authenticity,
senior management,
accuracy and
shareholders of
completeness
the Company with
of information
shareholding of
provided)
more than 5%,
Counterparties, SMNC
(the “target company”)
Others (commitment The Company and
on no disclosure
its Directors and
of inside
senior management,
information of
shareholders of
this transaction or
the Company with
insider trading)
shareholding of
more than 5%,
Counterparties, the
target company
Others (commitment The Company and
on no violation
its Directors and
of laws and
senior management,
regulations and
Counterparties, the
good credit
target company
standing)
Others (commitment Directors and senior
on measures
management of the
related to making
Company
up for diluted
immediate returns)
Others (commitment Shareholders of the
on share reduction Company with
plan)
shareholding of more
than 5%
Others (commitment
on reducing and
regulating related
party transactions)
Others (commitment
on avoiding
horizontal
competition)
Others (commitment
on maintaining the
independence of
the Company)
Others (commitment
on the diluted
immediate
returns from this
restructuring and
the corresponding
remedial measures)
Others (commitment
on the ownership
of the equity
interests in the
target company
held)

Shareholders of the
Company with
shareholding of more
than 5%
Shareholders of the
Company with
shareholding of more
than 5%
Shareholders of the
Company with
shareholding of more
than 5%
Shareholders of the
Company with
shareholding of more
than 5%

Counterparties

Details
of the
Time of the
undertaking undertaking

Term of the
undertaking

Whether
there is a
term for
performance

Whether
performed
timely and
strictly

Specific
reasons for
the failure
to timely
honor the
undertaking

Further plans
in the event
of failing
to timely
honor the
undertaking

See note 10

September 8,
2025

The shares
of the
Company
obtained
from this
transaction
may not be
transferred
within 12
months
from the
date of
completion
of the share
issuance.

Yes

Yes

N/A

N/A

See note 11

September 8,
2025

During the
period
until the
completion
of this
transaction

No

Yes

N/A

N/A

See note 12

September 8,
2025

During the
period
until the
completion
of this
transaction

No

Yes

N/A

N/A

See note 13

September 8,
2025

No

Yes

N/A

N/A

See note 14

September 8,
2025

During the
period
until the
completion
of this
transaction
Effective for a
long time

No

Yes

N/A

N/A

See note 15

September 8,
2025

No

Yes

N/A

N/A

See note 16

December 29,
2025

During the
period
until the
completion
of this
transaction
Effective for a
long time

No

Yes

N/A

N/A

See note 17

December 29,
2025

Effective for a
long time

No

Yes

N/A

N/A

See note 18

September 8,
2025

Effective for a
long time

No

Yes

N/A

N/A

See note 19

September 8,
2025

Effective for a
long time

No

Yes

N/A

N/A

See note 20

December 29,
2025

During the
period
until the
completion
of this
transaction

No

Yes

N/A

N/A

SMIC

2026 Interim Report

27

SECTION 5 SIGNIFICANT EVENTS
Note 1:
Commitments by substantial shareholders and domestic shareholders indirectly holding over 5% of shares
1.

As of the date of this undertaking, the Company and subsidiaries directly or indirectly controlled by the Company have not,
directly or indirectly, engaged in any business in any way within or outside China that constitutes peer competition or potential
peer competition with the principal business of the issuer or its subsidiaries, including but not limited to develop, operate or assist
in operating, participating in, and engaging in relevant businesses, not independently or in conjunction with, on behalf of any
person, firm or company (enterprise, unit).

2.

As of the date of this undertaking, the Company undertakes that it will not: (1) independently or with a third party, in the form
of direct or indirect control, engage in a business or activity that constitutes peer competition or potential peer competition with
issuer’s or its subsidiaries’ principal business that has a significant adverse impact (“competitive business”); (2) if the Company
and its subsidiaries directly or indirectly controlled by the Company obtained new investment opportunities in any way to own the
controlling shares, equity or interests of companies engaged in competitive business with the issuer and its affiliates, the Company
will notify the issuer in writing. If within the reasonable period specified in the notice, the issuer makes a written reply that it is
willing to accept the new investment opportunity, the Company or its subsidiaries directly or indirectly controlled by the Company
(except the issuer and its subsidiaries) will procure as permitted by law that these new investment opportunities to be first provided
to the issuer or its subsidiaries on reasonable and fair terms and conditions.

3.

The undertaking takes effect from the date of making the undertaking until any of the following occurs: (1) the Company and
parties acting in concert (if any) directly or indirectly hold less than 5% (exclusive) of the issuers’ shares; (2) the issuer’s shares
are terminated from listing on the Shanghai Stock Exchange (except for the suspension of trading of the issuer’s shares for any
reason); (3) when there is no statutory requirement for the content of a certain undertaking, the relevant part shall be automatically
terminated.

4.

For any party of the letter of undertaking, “subsidiaries” shall mean any other enterprise or entity (1) holds or controls 50% or
more issued share capital or 50% or more voting rights, if applicable; or (2) is entitled 50% or more profits after tax; or (3) has
the right to control the composition of the board of directors or control in any other form, regardless of whether it has legal
personality or not, and the subsidiaries of the enterprise or entity.

If the Company fails to perform such obligations under the commitments above, the Company shall bear corresponding liabilities in
accordance with the binding measures applicable to the failure of performance.
Note 2:
Commitments by the Company
1.

To implement the statutory approval procedures for related (connected) transaction in strict accordance with the relevant laws and
regulations of the place of listing, and strictly implement the related (connected) transaction avoidance system;

2.

To ensure that independent non-executive Directors exercise their powers according to law, ensure the fairness of prices of related
(connected) transactions and the compliance of approval procedures, and protect the interests of other shareholders to the maximum;

3.

Where there are related (connected) transactions between the Company’s substantial shareholders and affiliates and the Company,
it will perform related (connected) transaction decision-making procedures, and disclose information in a timely manner to ensure
not to harm the legitimate rights and interests of the Company and other shareholders by virtue of such related (connected)
transactions in strict accordance with the requirements of relevant laws, regulations and regulatory documents.

If the Company fails to perform such obligations under the commitments above, the Company shall bear corresponding liabilities in
accordance with the binding measures applicable to the failure of performance.

28

SMIC

2026 Interim Report

SECTION 5 SIGNIFICANT EVENTS
Commitments by substantial shareholders and domestic shareholders indirectly holding over 5% of shares
1.

Without adversely affecting the interests of the issuer and other shareholders, the Company will take measures to regulate and
minimize related (connected) transactions with the issuer.

2.

For related (connected) transactions required in normal course of business, the Company will sign a standardised transaction
agreement with the issuer according to law, fulfill or cooperate with the issuer to perform review and approval procedures and
avoidance of voting and information disclosure obligations in accordance with relevant laws, regulations, regulatory documents
and the requirements of issuer’s internal control systems including the Memorandum of Association and Articles of Association
of Semiconductor Manufacturing International Corporation applicable after the A Share offering, and guarantee such related
(connected) transactions will be implemented based on the basic principles of related (connected) transactions, such as fairness,
impartiality and openness.

3.

Undertakes not to harm the interests of the issuer and other shareholders by virtue of the related (connected) transactions.

If the Company fails to perform such obligations under the commitments above, the Company shall bear corresponding liabilities in
accordance with the binding measures applicable to the failure of performance.
Commitments by Directors and senior management personnel
1.

Without adversely affecting the interests of the issuer and other shareholders, I will take measures to regulate and minimize related
(connected) transactions with the issuer.

2.

For related (connected) transactions in normal course of business or unavoidable for other reasonable reasons, I will sign a regulated
transaction agreement with the issuer according to law, fulfill review and approval procedures and avoidance of voting and
information disclosure obligations in accordance with relevant laws, regulations, regulatory documents, the issuer’s Memorandum
of Association and Articles of Association of Semiconductor Manufacturing International Corporation applicable after the A Share
offering and the requirements of relevant internal control systems, and guarantee such related (connected) transactions will be
implemented based on the principles of related (connected) transactions.

3.

Undertakes not to harm the interests of the issuer and other shareholders by virtue of the related (connected) transactions.

The commitments made by me shall comply with applicable laws, regulations and regulatory documents, as well as the regulatory
requirements of the securities regulatory authority and other competent authorities. In violation of the above-mentioned commitment, I
will undertake corresponding obligations in accordance with the Letter of Commitment of Directors and Senior Management Personnel
of Semiconductor Manufacturing International Corporation on Binding Measures when Failing to Fulfill Relevant Commitments.
Note 3:
Commitments by the Company
1.

If securities regulatory departments or other competent departments determine that there is any misrepresentation, misleading
statement or material omission in the contents contained in the Prospectus for the A Share offering such that there is a material and
substantial impact on determining whether the Company meets the conditions for issuance as specified in laws, and the Company
has obtained registration of the issuance by fraud and has the shares listed, the Company hereby undertakes to repurchase all
new shares issued under the A Share offering in accordance with laws.

2.

When the triggering condition for stabilizing the share price as specified in the Company’s plan for Stabilisation of the Price of
RMB Ordinary Shares (A Shares) for the Three Years after the Initial Public Offering and Listing on the STAR Market of the Shanghai
Stock Exchange of Semiconductor Manufacturing International Corporation is satisfied, the Company will perform its obligations
to repurchase the shares in accordance with the provisions in such plan.

In violation of the above-mentioned commitments, the Company will undertake corresponding liabilities in accordance with its Letter of
Commitment of Semiconductor Manufacturing International Corporation on Binding Measures when Failing to Fulfill Relevant Commitments.

SMIC

2026 Interim Report

29

SECTION 5 SIGNIFICANT EVENTS
Note 4:
Commitments by the Company
1.
2.

The Company undertakes that the A Share offering by the issuer is not fraudulent.
If the Company obtains registration of the issuance by fraud, and has issued and listed shares when it does not meet the conditions
for issuance and listing, the Company will start share repurchase procedures to repurchase all new shares issued under the A
Share offering within 5 working days after being confirmed by the China Securities Regulatory Commission and other competent
departments.

If the Company fails to perform such obligations under the commitments above, the Company shall bear corresponding liabilities in
accordance with the binding measures applicable to the failure of performance.
Commitments by the substantial shareholders and domestic shareholders indirectly holding over 5% of shares
1.
2.

Undertake that the Company’s A Share issuance is not fraudulent.
If the Company obtains registration of the issuance by fraud, and has issued and listed shares when it does not meet the conditions
for issuance and listing, urge the Company to start share repurchase procedures to repurchase all new shares issued under the A
Share offering within 5 working days after being confirmed by the China Securities Regulatory Commission and other competent
departments.

If the Company fails to perform such obligations under the commitments above, the Company shall bear corresponding liabilities in
accordance with the binding measures applicable to the failure of performance.
Note 5:
Commitments by the Company
The Company will take active measures in compensation for the diluted immediate return. If it violates the relevant commitments, it will
undertake corresponding liabilities in accordance with its Letter of Commitment of Semiconductor Manufacturing International Corporation
on Binding Measures when Failing to Fulfill Relevant Commitments. In the meantime, the Company shall make supplementary or substitutive
commitments to the investors, so as to protect the investors’ interests to the greatest extent possible. Such supplementary or substitutive
commitments shall be fulfilled after being considered and approved at a general meeting.
Commitments by Directors and senior management personnel
1.

I will not transfer any interests to other entities or individuals without consideration or with unfair conditions, nor otherwise damage
the interests of the Company.

2.

I will impose constraints on position-related consumption behavior.

3.

I will not make any investment or consumption activity irrelevant to my performance of duties using the Company’s assets.

4.

I will propel to link the remuneration policy formulated by the Board or the Compensation Committee with the implementation
of the issuer’s remedial measures for diluted immediate returns.

5.

In the case that any equity incentive scheme is introduced hereafter, I will actively support to link the vesting conditions of equity
incentive with the implementation of the issuer’s remedial measures for diluted immediate returns.

6.

During the date of this commitment to the completion of the A Share offering, if China Securities Regulatory Commission or
the Shanghai Stock Exchange issue other new regulatory provisions on the remedial measures for diluted immediate returns and
its commitments, and when the above commitments fail to meet the aforementioned requirements, I will make supplementary
commitments in accordance with the aforementioned provisions.

7.

I undertake to conscientiously fulfill the measures formulated by the issuer’s remedial measures for diluted immediate returns and
any commitments made thereon regarding remedial measures for diluted immediate returns, in breach of such commitments and
resulting in losses to the issuer or investors, I am willing to bear the compensation liability to the issuer or investor according to
law.

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The commitments I made shall comply with applicable laws, regulations and regulatory documents, as well as the regulatory requirements
of the securities regulatory authorities and other competent authorities. In violation of the above-mentioned commitment, I will undertake
corresponding obligations in accordance with the Letter of Commitment of Directors and Senior Management Personnel of Semiconductor
Manufacturing International Corporation on Binding Measures when Failing to Fulfill Relevant Commitments.
Note 6:
Commitments by the Company
The Company will implement the profit distribution policy strictly in accordance with the Notice on Further Implementation of Cash
Dividends of Listed Companies issued by the China Securities Regulatory Commission, the Memorandum of Association and Articles of
Association of Semiconductor Manufacturing International Corporation, and the Profit Distribution Policy and Dividend Return Plan for
the Three Years after the Initial Public Offering and Listing of RMB Ordinary Shares (A Shares) on the STAR Market of the Shanghai Stock
Exchange of Semiconductor Manufacturing International Corporation applicable after the A Share offering.
In violation of the above-mentioned commitments, the Company will undertake corresponding liabilities in accordance with its Letter of
Commitment of Semiconductor Manufacturing International Corporation on Binding Measures when Failing to Fulfill Relevant Commitments.
Note 7:
Commitments by the Company
1.

Contents contained in the Prospectus for the A Share offering have no misrepresentation, misleading statement or material omission,
and the Company will be liable for the truthfulness, accuracy and completeness of the contents contained in the Prospectus.

2.

If the China Securities Regulatory Commission or other competent departments determine(s) that there is any misrepresentation,
misleading statement or material omission in the contents contained in the prospectus such that there is a material and substantial
impact on determining whether the Company meets the conditions for issuance as specified in laws, and the Company has obtained
registration of the issuance by fraud and has the shares listed, the Company hereby undertakes to repurchase all new shares issued
under the A Share offering in accordance with laws.

3.

In case any misrepresentation, misleading statement or material omission in the contents contained in the Prospectus leads to any
losses of investors in securities transactions, the Company will compensate for their losses in accordance with laws. The specific
procedures are as follows:
(1)

When securities regulatory departments or other competent departments determine that there is any misrepresentation,
misleading statement or material omission in the contents contained in the Prospectus such that the Company shall be
liable, the Company will initiate relevant procedures to compensate for the losses of investors within five working days after
receiving such written confirmation;

(2)

The Company will communicate with the relevant intermediaries and investors actively to negotiate and confirm the scope,
sequence, amount and form of compensation;

(3)

After confirming the compensation amount through the above-mentioned method, or by securities regulatory departments or
other competent departments, the Company will make compensation in the form confirmed through the above-mentioned
method or such other forms required by laws.

In violation of the above-mentioned commitments, the Company will undertake corresponding liabilities in accordance with its Letter of
Commitment of Semiconductor Manufacturing International Corporation on Binding Measures when Failing to Fulfill Relevant Commitments.

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SECTION 5 SIGNIFICANT EVENTS
Commitments by substantial shareholders
1.

Contents contained in the Prospectus for the A Share offering have no misrepresentation, misleading statement or material omission,
and the Company will be liable for the truthfulness, accuracy and completeness of the contents contained in the Prospectus.

2.

In case any misrepresentation, misleading statement or material omission in the contents contained in the Prospectus leads to any
losses of investors in securities transactions, the Company will compensate for their losses in accordance with laws. The specific
procedures are as follows:
(1)

When securities regulatory departments or judicial authority determine that there is any misrepresentation, misleading
statement or material omission in the contents contained in the Prospectus such that the Company shall be liable, the
Company will initiate relevant procedures to compensate for the losses of investors within ten working days after receiving
such written confirmation;

(2)

The Company will communicate with the investors actively to negotiate and confirm the scope, sequence, amount and form
of compensation;

(3)

After confirming the compensation amount through the above-mentioned method, or by securities regulatory departments
or the judicial authority, the Company will make compensation accordingly.

If the Company fails to perform such obligations under the commitments above, the Company shall bear corresponding liabilities in
accordance with the binding measures applicable to the failure of performance.
Commitments by domestic shareholders indirectly holding over 5% of shares
1.

Contents contained in the Prospectus for the A Share offering have no misrepresentation, misleading statement or material omission,
and the Company will be liable for the truthfulness, accuracy and completeness of the contents contained in the Prospectus.

2.

In case any misrepresentation, misleading statement or material omission in the contents contained in the Prospectus leads to any
losses of investors in securities transactions, the Company will compensate for their losses in accordance with laws. The specific
procedures are as follows:
(1)

When securities regulatory departments or judicial authority determine that there is any misrepresentation, misleading
statement or material omission in the contents contained in the Prospectus such that the Company shall be liable, the
Company will initiate relevant procedures to compensate for the losses of investors within three working days after receiving
such written confirmation;

(2)

The Company will communicate with the investors actively to negotiate and confirm the scope, sequence, amount and form
of compensation;

(3)

After confirming the compensation amount through the above-mentioned method, or by securities regulatory departments
or the judicial authority, the Company will make compensation accordingly.

If the Company fails to perform such obligations under the commitments above, the Company shall bear corresponding liabilities in
accordance with the binding measures applicable to the failure of performance.

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Commitments by Directors and senior management personnel
1.

Contents contained in the Prospectus for the A Share offering and other application documents have no misrepresentation,
misleading statement or material omission, and I will be liable for the truthfulness, accuracy and completeness of the contents
contained in the Prospectus.

2.

In case any misrepresentation, misleading statement or material omission in the contents contained in the Prospectus and other
application documents leads to any losses of investors in securities transactions, I will compensate for their losses in accordance
with laws. The specific procedures are as follows:
(1)

When securities regulatory departments or other competent authorities determine that there is any misrepresentation,
misleading statement or material omission in the contents contained in the Prospectus and other application documents
such that I shall be liable, I will initiate relevant procedures to compensate for the losses of investors within three working
days after receiving such written confirmation;

(2)

I will communicate with the issuer, other intermediaries and the investors actively to negotiate and confirm the scope,
sequence, amount and form of compensation;

(3)

After confirming the compensation amount through the above-mentioned method, or by securities regulatory departments
or the judicial authority, I will make compensation in the form confirmed through the above-mentioned method or such
other forms required by laws.

The commitments made by me shall comply with applicable laws, regulations and regulatory documents, as well as the regulatory
requirements of the securities regulatory authority and other competent authorities. In violation of the above-mentioned commitments,
I will undertake corresponding obligations in accordance with the Letter of Commitment of Directors and Senior Management Personnel
of Semiconductor Manufacturing International Corporation on Binding Measures when Failing to Fulfill Relevant Commitments.
Note 8:
Commitments by the Company
1.

All public commitments made by the Company in the course of the A Share offering (hereinafter referred to as the “Company
Commitments”) are true and binding on the Company. The Company voluntarily accepts the supervision by regulatory authorities,
self-regulatory organisations and the public. The Company will perform all obligations and take all responsibilities under the
Company Commitments strictly.

2.

If the Company fails to fulfill the Company Commitments fully and effectively for reasons except force majeure, the Company
hereby undertakes to adopt the following binding measures:
(1)

Taking corresponding remedial measures or making new commitments (such commitments shall fulfill relevant approval
and information disclosure procedure in accordance with laws, regulations, regulatory documents, the Memorandum of
Association and Articles of Association of Semiconductor Manufacturing International Corporation, and the provisions in
relevant internal control policy);

(2)

Within 30 days after securities regulatory departments or other competent departments determine that the Company breaks
or fails to fulfill the Company Commitments, or 30 days after determining that the investors suffer losses in securities
transactions due to the Company’s breaking of or failure to fulfill the Commitments, the Company will compensate for the
losses of the investors in accordance with laws. The compensation amounts shall be negotiated and confirmed by and between
the Company and the investors, or decided or determined by means as permitted by securities regulatory departments or
other competent departments.

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SECTION 5 SIGNIFICANT EVENTS
Commitments by substantial shareholders and domestic shareholders indirectly holding over 5% of shares
1.

All public commitments made by the Company in the course of the A Share offering of issuers (hereinafter referred to as the
“Shareholders Commitments”) are true and binding on the Company. The Company voluntarily accepts the supervision by regulatory
authorities, self-regulatory organisations and the public. The Company will perform all obligations and take all responsibilities under
the Shareholders Commitments strictly.

2.

If the Company fails to fulfill the Shareholders Commitments fully and effectively for reasons except force majeure, the Company
hereby undertakes to adopt the following binding measures:
(1)

Taking corresponding remedial measures or making new commitments (such commitments shall fulfill relevant approval and
information disclosure procedure in accordance with laws, regulations, regulatory documents, the Articles of Association,
and the provisions in relevant internal control policy);

(2)

If securities regulatory departments or judicial authority determine that the Company breaks or fails to fulfill foregoing
Shareholders Commitments and shall assume corresponding responsibility, the Company will assume corresponding
responsibility in accordance with laws.

Commitments by Directors and senior management personnel
1.

All public commitments made by me in the course of the A Share offering (hereinafter referred to as the “Individual Commitments”)
are true and binding on me. I voluntarily accept the supervision by regulatory authorities, self-regulatory organisations and the
public. I will perform all obligations and take all responsibilities under the Individual Commitments strictly.

2.

If I fail to fulfill the Individual Commitments fully and effectively for reasons except force majeure, I hereby undertake to adopt
the following binding measures:
(1)

Taking corresponding remedial measures or making new commitments (such commitments shall fulfill relevant approval
and information disclosure procedure in accordance with laws, regulations, regulatory documents, the Memorandum of
Association and Articles of Association of Semiconductor Manufacturing International Corporation, and the provisions in
relevant internal control policy);

(2)

Within 30 days after securities regulatory departments or other competent departments determine that I break or fail to
fulfill foregoing Individual Undertakings, or 30 days after determining that the investors suffer losses in securities transactions
due to my breaking of or failure to fulfill the Individual Commitments, I voluntarily compensate investors in advance from
all salary and/or allowances I received from the issuer.

Note 9:
Commitments by the Company
1.

Any dispute arising from the initial public offering and listing of RMB Ordinary Shares (A Shares) on the STAR Market of the
Shanghai Stock Exchange and during the listing period of the Company on STAR Market shall be governed by the laws of the
People’s Republic of China (excluding Hong Kong Special Administrative Region, Macao Special Administrative Region and Taiwan)
(hereinafter referred to as “China”), and be adjudicated by competent courts in China. The Company will not raise any objection
to the above-mentioned applicable law and competent court.

2.

The “disputes” stipulated in foregoing paragraph 1 shall include:
(1)

where Directors or senior management personnel violate laws and regulations or the Company’s Articles of Association in
performing their duties and cause losses to the Company, or others infringe on the legal rights and interests of the Company
and cause losses to the Company, derivative litigation filed by shareholders who individually or collectively hold more than
1% of the Company’s RMB Ordinary Shares (A Shares) for more than 180 consecutive days;

(2)

where the Company fails to disclose information in accordance with regulations, or there is misrepresentation, misleading
statement or material omission in securities issuance documents, regular reports, interim reports and other information
disclosure materials, which causes holders of RMB Ordinary Shares (A Shares) to suffer losses in securities transactions, civil
lawsuits filed by holders of RMB Ordinary Shares (A Shares) against the issuer and other responsible persons.

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Commitments by Directors and senior management personnel
1.

Any dispute arising from and during the A Share offering and listing and during the listing period of the Company on STAR Market
shall be governed by the laws of the People’s Republic of China (excluding Hong Kong Special Administrative Region, Macao Special
Administrative Region and Taiwan) (hereinafter referred to as “China”), and be adjudicated by competent courts in China.

2.

I will not raise any objection to the above-mentioned applicable law and competent court.

Note 10:
Commitments by the Counterparties
1.

The shares of the listed company obtained by our company/enterprise from this transaction shall not be transferred within 12
months from the date of completion of the share issuance. After the completion of this transaction, during the share lock-up
period, any additional shares of the listed company acquired by our company/enterprise through this transaction as a result of
stock dividends, capitalization of share premium and other such events of the listed company shall also be subject to the aforesaid
share lock-up arrangements.

2.

In the event that the aforesaid lock-up arrangements for the shares of the listed company obtained from this transaction are
inconsistent with the currently effective laws and regulations and the latest regulatory opinions of the securities regulatory authorities,
our company/enterprise agrees to make corresponding adjustments in accordance with the currently effective laws and regulations
and the regulatory opinions of the securities regulatory authorities; upon the expiration of the aforesaid share lock-up period, the
relevant provisions of the China Securities Regulatory Commission (the “CSRC”) and the Shanghai Stock Exchange (the “SSE”)
shall be followed.

3.

Our company/enterprise hereby authorizes the listed company to go through the lock-up procedures for the shares of the listed
company acquired by our company/enterprise through this transaction during the lock-up period.

Note 11:
Commitments by the Company
1.

The Company has provided the intermediaries engaged to render professional services such as audit, valuation, legal and financial
advisory services in connection with this transaction with all the necessary documents, materials, oral statements and explanations
in respect of this transaction as at the present stage, which are true, accurate and complete in all material respects and free from
any false records, misleading statements or material omissions; all the duplicate materials or copies provided are consistent and in
conformity with the original materials or originals; all signatures and seals on the provided documents and materials are genuine,
and the legal procedures required for such signatures and seals have been completed and legal authorization has been obtained;
all facts stated and explained are consistent with the actual facts that have occurred;

2.

The Company warrants that it has fulfilled its statutory disclosure and reporting obligations and that there are no contracts,
agreements, arrangements or other matters that should be disclosed but have not been disclosed;

3.

In accordance with the progress of this transaction, the Company shall timely provide relevant information and documents in
accordance with the relevant provisions of laws, regulations, rules, the CSRC and the SSE, and warrants that the information and
documents to be provided continue to meet the requirements of truthfulness, accuracy and completeness;

4.

The Company hereby undertakes and warrants that the information disclosure and application documents in connection with this
transaction are true, accurate and complete in all material respects, free from any false records, misleading statements or material
omissions, and is willing to bear the corresponding legal liabilities.

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SECTION 5 SIGNIFICANT EVENTS
Commitments by the Directors and senior management of the Company
1.

I have provided the listed company and the intermediaries engaged to render professional services such as audit, valuation, legal
and financial advisory services in connection with this transaction with all relevant materials in respect of this transaction, which are
true, accurate and complete in all material respects and free from any false records, misleading statements or material omissions;
all the duplicate materials or copies provided are consistent and in conformity with the original materials or originals; all signatures
and seals on the provided documents and materials are genuine; all facts stated and explained are consistent with the actual facts
that have occurred;

2.

In the event that this transaction is filed for investigation by judicial authorities or filed for examination by the CSRC on suspicion
that the information provided or disclosed contains false records, misleading statements or material omissions, prior to the
confirmation of the investigation conclusion, if I hold shares in the listed company, I shall not transfer the equity interests in the
listed company held by me, and shall submit a written application for suspension of transfer and the securities account to the
board of directors of the listed company within two trading days upon receipt of the notice of the investigation, and the board
of directors shall apply to the stock exchange and the securities registration and clearing institution for the lock-up on my behalf;
if I fail to submit the lock-up application within two trading days, I authorize the board of directors to verify and directly submit
my identity information and account information to the stock exchange and the securities registration and clearing institution for
lock-up application; if the board of directors fails to submit my identity information and account information to the stock exchange
and the securities registration and clearing institution, I authorize the stock exchange and the securities registration and clearing
institution to directly lock up the relevant shares. If the investigation conclusion finds that there are illegal or irregular acts, I hereby
undertake that the locked-up shares shall be voluntarily used for the compensation arrangements for relevant investors;

3.

In accordance with the progress of this transaction, I shall timely provide relevant information and documents in accordance with
the relevant provisions of laws, regulations, rules, the CSRC and the SSE, and warrants that the information and documents to be
provided continue to meet the requirements of truthfulness, accuracy and completeness;

4.

I hereby undertake and warrant that the information disclosure and application documents in connection with this transaction are
true, accurate and complete in all material respects, free from any false records, misleading statements or material omissions, and
am willing to bear the corresponding legal liabilities in accordance with the law.

Commitments by the shareholders of the Company holding more than 5% of the shares
1.

Our enterprise has provided the listed company and the intermediaries engaged to render professional services such as audit,
valuation, legal and financial advisory services in connection with this transaction with all relevant materials in respect of this
transaction, which are true, accurate and complete in all material respects and free from any concealment, falsification or material
omissions; all the duplicate materials or copies provided are consistent and in conformity with the original materials or originals;
all signatures and seals on the provided documents and materials are genuine; all facts stated and explained are consistent with
the actual facts that have occurred;

2.

In the event that this transaction is filed for investigation by judicial authorities or filed for examination by the CSRC on suspicion
that the information provided or disclosed by our enterprise contains false records, misleading statements or material omissions,
prior to the confirmation of the investigation conclusion, if our enterprise holds shares in the listed company, we shall not transfer
the equity interests in the listed company held by us, and shall submit a written application for suspension of transfer and the
securities account to the board of directors of the listed company within two trading days upon receipt of the notice of the
investigation, and the board of directors shall apply to the stock exchange and the securities registration and clearing institution
for the lock-up on our behalf; if we fail to submit the lock-up application within two trading days, we authorize the board of
directors to verify and directly submit our enterprise’s identity information and account information to the stock exchange and
the securities registration and clearing institution for lock-up application; if the board of directors fails to submit our enterprise’s
identity information and account information to the stock exchange and the securities registration and clearing institution, we
authorize the stock exchange and the securities registration and clearing institution to directly lock up the relevant shares. If the
investigation conclusion finds that there are illegal or irregular acts, our enterprise hereby undertakes that the locked-up shares
shall be voluntarily used for the compensation arrangements for relevant investors;

3.

Our enterprise warrants that during its participation in this transaction, it shall timely disclose information in respect of this
transaction to the listed company in accordance with the relevant provisions of applicable laws, regulations, rules, the CSRC and
the SSE, and warrants the truthfulness, accuracy and completeness of such information;

4.

The facts stated in this commitment letter by our enterprise are free from any false records, misleading statements or material
omissions, and we shall bear the corresponding legal liabilities in accordance with the law for the truthfulness, accuracy and
completeness thereof.

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Commitments by the Counterparties
1.

Our company/enterprise warrants that all information provided in connection with this transaction is true, accurate and complete,
all duplicate materials or copies are consistent with the original materials or originals, all signatures and seals on the documents
are genuine, the signatories of such documents have signed the documents upon legal authorization and validly, and there are
no false records, misleading statements or material omissions; in the event that the information disclosure contains false records,
misleading statements or material omissions, we shall bear the corresponding legal liabilities in accordance with the law.

2.

Our company/enterprise warrants that all statements and confirmations issued in connection with this transaction are true, accurate
and complete in all material respects, free from any false records, misleading statements or material omissions, and we shall bear
the corresponding legal liabilities for any false records, misleading statements or material omissions therein.

3.

In accordance with the progress of this transaction, our company/enterprise shall timely provide the listed company with relevant
information in respect of this transaction in the course of participating in this transaction, and warrants that the information
provided is true, accurate and complete in all material respects, free from any false records, misleading statements or material
omissions; if the listed company or investors suffer losses due to the existence of false records, misleading statements or material
omissions in the information provided, our enterprise shall bear the corresponding legal liabilities in accordance with the law.

4.

In the event that this transaction is filed for investigation by judicial authorities or filed for examination by the CSRC on suspicion
that the information provided or disclosed contains false records, misleading statements or material omissions, prior to the
confirmation of the investigation conclusion, our enterprise shall suspend the transfer of the equity interests in the listed company
held by us, and shall submit a written application for suspension of transfer and the securities account to the board of directors of
the listed company within two trading days upon receipt of the notice of the investigation, and the board of directors shall apply
to the stock exchange and the securities registration and clearing institution for the lock-up on our behalf; if we fail to submit
the lock-up application within two trading days, we authorize the board of directors to verify and directly submit our enterprise’s
identity information and account information to the stock exchange and the securities registration and clearing institution for lockup application; if the board of directors fails to submit our enterprise’s identity information and account information to the stock
exchange and the securities registration and clearing institution, we authorize the stock exchange and the securities registration
and clearing institution to directly lock up the relevant shares. If the investigation conclusion finds that there are illegal or irregular
acts, our enterprise hereby undertakes that the locked-up shares shall be voluntarily used for the compensation arrangements for
relevant investors.

Commitments by the target company
1.

Our company and all its directors, supervisors and senior management have provided the listed company and the intermediaries
engaged to render professional services such as audit, valuation, legal and financial advisory services in connection with this
transaction with all the necessary documents, materials, oral statements and explanations in respect of this transaction as at the
present stage, which are true, accurate and complete in all material respects and free from any false records, misleading statements
or material omissions; all the duplicate materials or copies provided are consistent and in conformity with the original materials
or originals; all signatures and seals on the provided documents and materials are genuine, and the legal procedures required
for such signatures and seals have been completed and legal authorization has been obtained; all facts stated and explained are
consistent with the actual facts that have occurred.

2.

Our company and all its directors, supervisors and senior management warrant that they have fulfilled their statutory disclosure
and reporting obligations and that there are no contracts, agreements, arrangements or other matters that should be disclosed
but have not been disclosed; the information and documents provided in connection with this transaction are true, accurate and
complete in all material respects, free from any false records, misleading statements or material omissions, and we are willing to
bear the corresponding legal liabilities.

3.

In accordance with the progress of this transaction, our company and all its directors, supervisors and senior management shall
timely provide relevant information and documents in accordance with the relevant provisions of laws, regulations, rules, the CSRC
and the SSE, and warrants that the information and documents to be provided continue to meet the requirements of truthfulness,
accuracy and completeness.

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SECTION 5 SIGNIFICANT EVENTS
Note 12:
Commitments by the Company
1.

As of the date of this commitment letter, the Company and the enterprises controlled by the Company are not in any circumstance
that disables them from participating in any material asset restructuring of a listed company pursuant to Article 12 of the Regulatory
Guidelines for Listed Companies No.7 – Supervision over Abnormal Stock Trading in Connection with Material Asset Restructuring
of Listed Companies or Article 30 of the Self-Regulatory Supervision Guidelines for Listed Companies of the Shanghai Stock
Exchange No.6 – Material Asset Restructuring. Namely, the Company and the enterprises controlled by the Company are not
under investigation or criminal investigation on suspicion of insider trading in connection with this transaction, and have not been
subject to administrative penalties by the CSRC or criminal liabilities by judicial organs for insider trading in connection with this
transaction in the most recent 36 months.

2.

As of the date of this commitment letter, the Company has not improperly disclosed any inside information in connection with
this transaction or conducted insider trading by taking advantage of such inside information, and undertakes to take necessary
measures to keep strictly confidential the materials and information in relation to this transaction.

3.

The Company undertakes to bear corresponding legal liabilities in accordance with the law if it breaches the above commitments.

Commitments by the Directors and senior management of the Company
1.

As of the date of this commitment letter, I am not in any circumstance that disables me from participating in any material asset
restructuring of a listed company pursuant to Article 12 of the Regulatory Guidelines for Listed Companies No.7 – Supervision over
Abnormal Stock Trading in Connection with Material Asset Restructuring of Listed Companies or Article 30 of the Self-Regulatory
Supervision Guidelines for Listed Companies of the Shanghai Stock Exchange No.6 – Material Asset Restructuring. Namely, I am
not under investigation or criminal investigation on suspicion of insider trading in connection with this transaction, and have not
been subject to administrative penalties by the CSRC or criminal liabilities by judicial organs for insider trading in connection with
this transaction in the most recent 36 months.

2.

As of the date of this commitment letter, I have not improperly disclosed any inside information in connection with this transaction
or conducted insider trading by taking advantage of such inside information.

3.

I undertake to bear corresponding legal liabilities in accordance with the law for any losses suffered by the listed company or other
investors due to my breach of the above commitments.

Commitments by the shareholders of the Company holding more than 5% of the shares
1.

Our enterprise is not in any circumstance that disables it from participating in any material asset restructuring of a listed company
pursuant to Article 12 of the Regulatory Guidelines for Listed Companies No.7 – Supervision over Abnormal Stock Trading in
Connection with Material Asset Restructuring of Listed Companies or Article 30 of the Self-Regulatory Supervision Guidelines
for Listed Companies of the Shanghai Stock Exchange No.6 – Material Asset Restructuring. Namely, our enterprise is not under
investigation or criminal investigation on suspicion of insider trading in connection with this transaction, and has not been subject
to administrative penalties by the CSRC or criminal liabilities by judicial organs for insider trading in connection with material asset
restructuring in the most recent 36 months.

2.

Our enterprise has not improperly disclosed any inside information in connection with this transaction or conducted insider trading
by taking advantage of such inside information.

3.

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Our enterprise is willing to bear corresponding legal liabilities in accordance with the law if it breaches the above commitments.

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SECTION 5 SIGNIFICANT EVENTS
Commitments by the Counterparties
1.

As of the date of this commitment letter, our company/enterprise, its controlling shareholder (if any), actual controller (if any),
directors (if any), supervisors (if any), senior management and the institutions controlled by the aforesaid parties (if any) are not
in any circumstance that disables them from participating in any material asset restructuring of a listed company pursuant to
Article 12 of the Regulatory Guidelines for Listed Companies No.7 – Supervision over Abnormal Stock Trading in Connection with
Material Asset Restructuring of Listed Companies or Article 30 of the Self-Regulatory Supervision Guidelines for Listed Companies
of the Shanghai Stock Exchange No.6 – Material Asset Restructuring. Namely, the aforesaid parties are not under investigation or
criminal investigation on suspicion of insider trading in connection with this transaction, and have not been subject to administrative
penalties by the CSRC or criminal liabilities by judicial organs for insider trading in connection with material asset restructuring in
the most recent 36 months.

2.

As of the date of this commitment letter, our company/enterprise, its controlling shareholder (if any), actual controller (if any),
directors (if any), supervisors (if any) and senior management have not improperly disclosed any inside information in connection
with this transaction or conducted insider trading by taking advantage of such inside information, and our company/enterprise
undertakes to take necessary measures to keep strictly confidential the materials and information in relation to this transaction.

3.

Our company/enterprise shall bear corresponding legal liabilities in accordance with the law for any losses suffered by the listed
company or other investors due to the breach of the above commitments.

Commitments by the target company
1.

The company is not in any circumstance that disables it from participating in any material asset restructuring of a listed company
pursuant to Article 12 of the Regulatory Guidelines for Listed Companies No.7 – Supervision over Abnormal Stock Trading in
Connection with Material Asset Restructuring of Listed Companies or Article 30 of the Self-Regulatory Supervision Guidelines for
Listed Companies of the Shanghai Stock Exchange No.6 – Material Asset Restructuring.

2.

As of the date of this commitment letter, the company has not improperly disclosed any inside information in connection with this
transaction or conducted insider trading by taking advantage of such information, and undertakes to take necessary measures to
keep strictly confidential the materials and information in relation to this transaction.

3.

The company is willing to bear legal liabilities in accordance with the law if it breaches the above commitments.

Note 13:
Commitments by the Company
1.

As of the date of this commitment letter, the Company is not under criminal investigation by judicial organs on suspicion of a
crime or under investigation by the CSRC on suspicion of violation of laws or regulations; in the most recent three years, the
Company has not been subject to criminal penalties, nor has it been subject to administrative penalties by the CSRC for violation
of securities laws, administrative regulations or rules.

2.

In the most recent three years, the Company has maintained a good credit standing, and has not been included in the list of joint
disciplinary targets for untrustworthiness or the list of persons subject to enforcement for untrustworthiness, nor has it committed
any serious untrustworthy acts in the securities market; in the most recent twelve months, the Company has not committed any acts
that seriously damage the legitimate rights and interests of investors and the public interest, nor has it been publicly condemned
by the stock exchange or committed any other major untrustworthy acts.

3.

All facts stated in this commitment letter by the Company are objective and true, free from any false records, misleading statements
or material omissions, and the Company shall bear legal liabilities for the truthfulness, accuracy and completeness thereof.

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SECTION 5 SIGNIFICANT EVENTS
Commitments by the Directors and senior management of the Company
1.

In the most recent three years, I have not been subject to administrative penalties or criminal penalties in connection with the
securities market, nor have I been publicly condemned by the stock exchange in the most recent year.

2.

In the most recent three years, I have not been listed as a person subject to enforcement for untrustworthiness by the people’s
court due to failure to repay large-sum debts on schedule, nor have I been subject to administrative penalties by the CSRC or
disciplinary sanctions by the stock exchange.

3.

I am not under criminal investigation by judicial organs on suspicion of a crime or under investigation by the CSRC on suspicion
of violation of laws or regulations.

4.

All facts stated in this commitment letter by me are objective and true, free from any false records, misleading statements or
material omissions, and I shall bear legal liabilities for the truthfulness, accuracy and completeness thereof.

Commitments by the Counterparties
1.

Our company/enterprise and its current key management personnel have not been subject to administrative penalties (except for
those obviously irrelevant to the securities market) or criminal penalties, nor have they been involved in any major civil litigation
or arbitration cases in connection with economic disputes in the most recent five years.

2.

Our company/enterprise and its current key management personnel have maintained a good credit standing in the most recent five
years, and have not failed to repay large-sum debts on schedule, failed to perform commitments, been subject to administrative
supervision measures by the CSRC or disciplinary sanctions by the stock exchange.

3.

As of the date of this commitment letter, our company/enterprise and its current key management personnel are not a party to any
outstanding major litigation, arbitration or administrative penalty cases that may have a material adverse impact on this transaction.

4.

Our company/enterprise undertakes to bear corresponding legal liabilities in accordance with the law if it breaches the above
statements and commitments.

Commitments by the target company
1.

In the most recent three years, the company has not been subject to criminal penalties, nor has it been subject to administrative
penalties by the CSRC for violation of securities laws, administrative regulations or rules.

2.

In the most recent three years, the company has maintained a good credit standing, and has not been included in the list of joint
disciplinary targets for untrustworthiness or the list of persons subject to enforcement for untrustworthiness, nor has it committed
any serious untrustworthy acts in the securities market; in the most recent twelve months, the Company has not committed any
acts that seriously damage the legitimate rights and interests of investors and the public interest.

3.

As of the date of this commitment letter, the company has no outstanding or foreseeable major litigation, arbitration or administrative
penalty cases, nor is it under criminal investigation by judicial organs on suspicion of a crime or under investigation by the CSRC
on suspicion of violation of laws or regulations.

Note 14:
Commitments by the Directors and senior management of the Company
1.

I undertake not to transfer benefits to any other entity or individual free of charge or on unfair terms, nor to damage the interests
of the listed company by any other means.

2.
3.

I undertake to exercise restraint over my duty-related consumption.
I undertake not to use the assets of the listed company for any investment or consumption activities unrelated to the performance
of my duties.

40

SMIC

2026 Interim Report

SECTION 5 SIGNIFICANT EVENTS
4.

I undertake to make every effort to ensure that the remuneration system formulated by the board of directors or the compensation
committee is linked to the implementation of the measures for remedying the diluted immediate returns of the listed company.

5.

If the listed company implements equity incentive in the future, I undertake to make every effort to ensure that the exercise
conditions of the proposed equity incentive of the listed company are linked to the implementation of the measures for remedying
the diluted immediate returns of the listed company.

6.

From the date of this commitment letter to the completion of this transaction of the listed company, if the CSRC and other
securities regulatory authorities formulate any new regulatory provisions on the measures for remedying the diluted immediate
returns and the relevant commitments, and the above commitments fail to meet such provisions, I undertake to issue corresponding
supplementary commitments in accordance with the latest provisions of the securities regulatory authorities applicable to me. I
undertake to faithfully perform the measures for remedying the diluted immediate returns formulated by the listed company and
any commitments made by me in this regard.

7.

I undertake to bear corresponding legal liabilities in accordance with the law for any losses suffered by the listed company or other
investors due to my breach of the above commitments.

Note 15:
Commitments by the shareholders of the Company holding more than 5% of the shares
1.

Our enterprise undertakes that from the date of this commitment letter to the completion of this transaction, if we intend to
reduce our A-share holdings based on actual operational needs or market changes, we shall act in strict compliance with the
relevant provisions of laws, regulations, the CSRC and the Shanghai Stock Exchange, disclose the A-share share reduction plan
in a timely manner, and strictly implement the relevant provisions and requirements of laws and regulations on the reduction of
A-share holdings.

2.

Our enterprise undertakes to bear corresponding legal liabilities in accordance with the law for any losses suffered by the listed
company or other investors due to our breach of the above commitments.

Note 16:
Commitments by the shareholders of the Company holding more than 5% of the shares
1.

On the premise of not causing any adverse impact on the legitimate interests of the listed company and other shareholders, our
enterprise shall take measures to regulate and minimize related transactions with the listed company.

2.

For related transactions that are necessary for normal business operations or incurred for reasonable reasons, our enterprise shall
sign a standardized transaction agreement with the listed company in accordance with the basic principles of fairness, impartiality
and openness for related transactions, and perform or cooperate with the listed company to perform the review and approval
procedures, recusal from voting and information disclosure obligations in accordance with the relevant laws, regulations, normative
documents and the internal control systems of the listed company such as the Memorandum and Articles of Association of
Semiconductor Manufacturing International Corporation.

3.

We undertake not to damage the legitimate interests of the listed company and other shareholders by taking advantage of related
transactions.

Our enterprise shall bear corresponding legal liabilities in accordance with the law if it breaches the above commitments.
Note 17:
Commitments by the shareholders of the Company holding more than 5% of the shares
1.

As of the date of this commitment letter, our company/enterprise and subsidiaries directly or indirectly controlled by us have not,
directly or indirectly, engaged in any business in any way within or outside China that constitutes peer competition or potential
peer competition with the principal business of the issuer/listed company or its subsidiaries, including but not limited to develop,
operate or assist in operating, participating in, and engaging in relevant businesses, not independently or in conjunction with, on
behalf of any person, firm or company (enterprise, unit).

SMIC

2026 Interim Report

41

SECTION 5 SIGNIFICANT EVENTS
2.

As of the date of this commitment letter, our enterprise/company undertakes that it will not:
(1)

independently or with a third party, in the form of direct or indirect control, engage in a business or activity that constitutes
peer competition or potential peer competition with issuer/listed company’s or its subsidiaries’ principal business that has
a significant adverse impact (hereinafter referred to as the “competitive business”); (2) if our enterprise/company and its
subsidiaries directly or indirectly controlled by us obtained new investment opportunities in any way to own the controlling
shares, equity or interests of companies engaged in competitive business with the issuer/listed company and its subsidiaries,
our enterprise/company will notify the issuer/listed company in writing. If within the reasonable period specified in the notice,
the issuer/listed company makes a written reply that it is willing to accept the new investment opportunity, our enterprise/
company or its subsidiaries directly or indirectly controlled by us (except the issuer/listed company and its subsidiaries) will
procure as permitted by law that these new investment opportunities to be first provided to the issuer/listed company or
its subsidiaries on reasonable and fair terms and conditions.

3.

The undertaking takes effect from the date of making the undertaking until any of the following occurs: (1) our enterprise/company
and parties acting in concert (if any) directly or indirectly hold less than 5% (exclusive) of the issuer/listed company’s shares; (2) the
issuer/listed company’s shares are terminated from listing on the Shanghai Stock Exchange (except for the suspension of trading
of the issuer/listed company’s shares for any reason); (3) when there is no statutory requirement for the content of a certain
undertaking, the relevant part shall be automatically terminated.

4.

For any party of the letter of undertaking, “subsidiaries” shall mean any other enterprise or entity (1) holds or controls 50% or
more issued share capital or 50% or more voting rights, if applicable; or (2) is entitled 50% or more profits after tax; or (3) has
the right to control the composition of the board of directors or control in any other form, regardless of whether it has legal
personality or not, and the subsidiaries of the enterprise or entity.

Note 18:
Commitments by the shareholders of the Company holding more than 5% of the shares
1.

Upon the completion of this transaction, our enterprise shall strictly comply with the relevant rules and regulations of the CSRC and
the Shanghai Stock Exchange, as well as the relevant provisions of the Memorandum and Articles of Association of Semiconductor
Manufacturing International Corporation applicable to the listed company, exercise shareholder rights and perform shareholder
obligations in accordance with the law, not seek improper interests by virtue of its status as a shareholder holding more than
5% of the shares, not interfere with the listed company’s complete separation from other enterprises controlled by us in terms of
personnel, assets, finance, organizations and business, and not affect the independence of the listed company in terms of business,
assets, personnel, finance and organizations;

2.

Our enterprise undertakes to bear corresponding legal liabilities in accordance with the law for any losses suffered by the listed
company or other investors due to our breach of the above commitments.

Note 19:
Commitments by the shareholders of the Company holding more than 5% of the shares
1.

Our enterprise shall not interfere in the business and management activities of the listed company beyond its authority, nor shall
it encroach on the interests of the listed company;

2.

Our enterprise shall faithfully perform the measures for remedying the diluted returns formulated by the listed company and this
commitment. If our enterprise breaches or refuses to perform this commitment and causes losses to the listed company or investors,
we agree to bear corresponding legal liabilities in accordance with the relevant provisions of laws, regulations and securities
regulatory authorities;

3.

From the date of this commitment letter to the completion of this transaction of the listed company, if the CSRC or the stock exchange
formulates any new regulatory provisions on the measures for remedying the diluted returns and the relevant commitments, and
the above commitments fail to meet such provisions, our enterprise undertakes to issue supplementary commitments in accordance
with the latest provisions of the CSRC or the stock exchange.

All facts stated in this commitment letter by our enterprise are objective and true, free from any false records, misleading statements or
material omissions, and we shall bear legal liabilities for the truthfulness, accuracy and completeness thereof. Our enterprise shall bear
corresponding legal liabilities in accordance with the law if it breaches the above commitments.

42

SMIC

2026 Interim Report

SECTION 5 SIGNIFICANT EVENTS
Note 20:
Commitments by the Counterparties
1.

Our enterprise is a legally established and validly existing enterprise. We are not in any circumstance that requires termination
or dissolution pursuant to the provisions of laws, regulations or the articles of association/partnership agreement, and have the
qualification to act as the counterparty of this transaction.

2.

As of the date of this commitment letter, our enterprise has fulfilled the capital contribution obligation to the target company in
accordance with the provisions of the Articles of Association of the target company. All capital contribution funds are our own
funds, which are true and fully paid-in. We have not committed any acts in violation of the obligations and liabilities as a shareholder
such as false capital contribution or capital withdrawal, and there is no circumstance that may affect the legal existence of the
target company. As a shareholder of the target company, our enterprise legally holds the equity of the target company.

3.

As of the date of this commitment letter, our enterprise has legal and complete ownership or disposition right to the equity of
the target company held by us. Such equity has a clear ownership title, free from any entrusted shareholding, trust arrangement,
income right arrangement, option arrangement or equity holding on behalf of others. No mortgage, pledge or other encumbrances
have been created on such equity, and there are no other equity arrangements that prohibit or restrict the transfer thereof, nor has
such equity been subject to any restraint such as seizure, attachment or freezing by judicial organs that limits the rights thereunder,
or any other circumstance that hinders the transfer of the ownership title.

4.

The equity assets of the target company held by our enterprise have a clear ownership title, free from any ownership disputes or
potential disputes of any form.

5.

Prior to the completion of this transaction, our enterprise undertakes not to create any third-party rights such as mortgage or
pledge on the equity of the target company held by us.

All facts stated in this commitment letter by our enterprise are free from any false records, misleading statements or material omissions,
and we shall bear legal liabilities for the truthfulness, accuracy and completeness thereof. Our enterprise shall bear corresponding legal
liabilities in accordance with the law if it breaches the above commitments.

II. MATERIAL LITIGATION AND ARBITRATION

On May 7, 2020, SMIC New Technology Research and Development (Shanghai) Corporation (“SMIC New Technology”),
a subsidiary of the Company, received an arbitration notice issued by the Hong Kong International Arbitration Center,
whereby PDF SOLUTIONS, INC. (“PDF”) filed an arbitration request with the Hong Kong International Arbitration Center.
On November 12, 2025, the Tribunal rendered an award under which SMIC New Technology is to pay the relevant fees
to PDF. SMIC New Technology contends that the arbitral award is manifestly improper, containing material procedural
irregularities and substantive errors in the application of pivotal legal principles. As at the date of this report, SMIC New
Technology has filed an application with the High Court of the Hong Kong Special Administrative Region to set aside
the arbitral award.

III. SIGNIFICANT RELATED (CONNECTED) TRANSACTIONS
(I)

RELATED PARTY TRANSACTIONS IN RELATION TO DAILY OPERATION

Matters that have been disclosed in temporary announcements and have developments
or changes in subsequent implementation
On February 11, 2025, the Board of the Company reviewed and approved the Proposal on Renewal of 2025-2027 Related
(Connected) Transactions Framework Agreement between SMIC and Datang Holdings. The Group and Datang Holdings
(including its related companies) agreed to engage in business collaboration, including but not limited to wafer processing
service, for a term of three years from January 1, 2025 to December 31, 2027.
The actual amounts during this period of the daily related transactions, of which annual caps in USD were approved in
prior years and disclosed on the Shanghai Stock Exchange and the Hong Kong Stock Exchange, are as follows:

Related party

Related transaction

Datang Holdings and its related parties

Sales of goods and services

Annual caps in
2026
(USD in million)

Actual amount for
this period
(USD in million)

85

11

SMIC

2026 Interim Report

43

SECTION 5 SIGNIFICANT EVENTS
(II) RELATED PARTY TRANSACTIONS IN THE ACQUISITION OR SALE OF ASSETS OR EQUITY

Matters that have been disclosed in temporary announcements and have developments
or changes in subsequent implementation
Summary of the event

Inquiry index

The Company has acquired a 49.00% equity
interest in SMNC held by China IC Fund, Beijing
Semiconductor Manufacturing and Equipment Equity
Investment Center (Limited Partnership), Beijing
E-town International Investment and Development
Co.,Ltd., Zhongguancun Development Group Co.,
Ltd. and Beijing Industrial Development Investment
Management Co., Ltd., through the issuance of RMB
Shares. This transaction does not constitute a major
asset reorganization or a backdoor listing but will
constitute a related (connected) transaction.

For details, please refer to the relevant announcements
dated February 13, 2026, February 26, 2026, May
12, 2026, May 22, 2026, June 13, 2026 and June
25, 2026 published on the website of the SSE
(https://www.sse.com.cn), as well as the relevant
announcements dated February 12, 2026, February
25, 2026, May 11, 2026, May 21, 2026, June 12,
2026 and June 24, 2026 published on the website of
HKSE (https://www.hkexnews.hk).

On February 12, 2026, the Company convened an
extraordinary general meeting and reviewed and
approved the relevant proposals for the issuance
of shares to acquire assets and conduct a related
transaction.
On February 25, 2026, the Company’s application for
issuing shares to acquire assets and conduct a related
transaction was accepted by the SSE.
On May 11, 2026, the Company’s proposal for issuing
shares to acquire assets and conduct a related
transaction was approved by the Mergers and
Acquisitions Review Committee of the Shanghai Stock
Exchange.
On May 21, 2026, the Company received the “Approval
for the Registration of SMIC for the Issuance of
Shares to Acquire Assets” issued by the CSRC.
On June 12, 2026, Administration for Market
Regulation of Beijing Economic Technological
Development Area approved the industrial and
commercial changes related to this transaction
involving SMNC and issued a new “Business License”
to SMNC. The 49% equity stake of SMNC has been
registered under the Company.
On June 23, 2026, the Shanghai Branch of China
Securities Depository and Clearing Corporation
Limited issued the “Certificate of Securities Change
Registration”, confirming that the Company had
completed the registration of the new shares issued
in connection with the acquisition of assets. A total
of 547,182,073 new ordinary shares (A-shares) were
registered.

IV. MATERIAL CONTRACTS AND THE IMPLEMENTATION THEREOF
(I)

GUARANTEES
in USD’000
External guarantees provided by the Company (excluding guarantees provided for its subsidiaries)

Total guarantees incurred during the Reporting Period (excluding those provided for
subsidiaries)
Total balance of guarantees as at the end of the Reporting Period (A) (excluding those
provided for subsidiaries)

–
–

Guarantees provided by the Company and its subsidiaries for its subsidiaries
Total guarantees to subsidiaries incurred during the Reporting Period
Total balance of guarantees to subsidiaries as at the end of the Reporting Period (B)

408,461
6,749,846

Aggregate guarantees of the Company (including those provided for subsidiaries)
Aggregate guarantees (A+B)
Percentage of aggregate guarantees to equity attributable to owners of the Company (%)
Including:
Amount of guarantees provided for shareholders and their related parties (C)
Amount of debt guarantees directly or indirectly provided for guaranteed parties with
gearing ratio over 70% (D)
Excess amount of aggregate guarantees over 50% of equity attributable to owners of the
Company (E)
Aggregate amount of the above three categories (C+D+E)

44

SMIC

2026 Interim Report

6,749,846
26.8
–
85,104
–
85,104

SECTION 6 CHANGES IN SHARES AND INFORMATION OF SHAREHOLDERS
I.

CHANGES IN SHARES
(I)

1.

TABLE OF CHANGES IN SHARES

Table of changes in shares

Prior to the change

I. Shares subject to selling restrictions
1. Shares held by state-owned legal
entities
2. Other domestic shareholdings
Of which: shares held by domestic nonstate-owned legal entities
II. Tradable shares not subject to selling
restrictions
1. RMB Ordinary Shares
2. Overseas-listed foreign shares(2)
III. Total shares

Increase/(decrease) in the change
Conversion
of capital
reserves
Shares into share
capital
Others
dividend

Unit: Share
After the change

Sub-total

Number

Proportion
(%)

–
–

547,182,073
446,679,243

547,182,073
446,679,243

6.39
5.22

–
–

–
–

100,502,830
100,502,830

100,502,830
100,502,830

1.17
1.17

–

–

13,215,887

13,215,887

8,013,623,922

93.61

–
–
–

–
–
–

–
13,215,887
13,215,887

–
13,215,887
560,397,960

1,999,562,549
6,014,061,373
8,560,805,995

23.36
70.25
100.00

Number

Proportion
(%)

Issuance of
new shares

–
–

–
–

547,182,073
446,679,243

–
–

–
–

–
–

–
–

100,502,830
100,502,830

–
–

8,000,408,035

100.00

–

1,999,562,549
6,000,845,486
8,000,408,035

24.99
75.01
100.00

–
–
547,182,073

Notes:
(1)

This table does not include the impact of refinancing business on share changes.

(2)

Overseas-listed foreign shares in this table are ordinary shares listed on the Hong Kong Stock Exchange.

2.

Description of changes in shares

During the Reporting Period, the number of RMB shares increased by 547,182,073 shares due to the issuance of shares
to acquire assets, the number of Hong Kong shares increased by 13,215,887 shares due to the new shares issued under
the Hong Kong share incentive plans.

3.

The impact (if any) of share changes on financial indicators, such as earnings per
share and equity per share from the end of the Reporting Period to the publication
date of this interim report

From the end of the Reporting Period to the publication date of this interim report, the Company’s share capital increased
due to the new shares issued under the Hong Kong share incentive plans. The change has no significant impact on
financial indicators, such as earnings per share and net assets per share.

(II)

CHANGES IN RESTRICTED SHARES
Unit: Share

Name of shareholders
China Integrated Circuit
Industry Investment Fund
Co., Ltd.
Beijing Semiconductor
Manufacturing and
Equipment Equity Investment
Center (Limited Partnership)
Beijing E-town International
Investment and
Development Co., Ltd.
Zhongguancun Development
Group Co., Ltd.
Beijing Industrial Development
Investment Management
Co., Ltd.
Total

Number at the end
of the Reporting Reasons for the
Increase in the
Period sales restriction
number

Date of lifting of
sales restrictions

357,343,396

357,343,396 Issue shares to
acquire assets

June 23, 2027

100,502,830

100,502,830 Issue shares to
acquire assets

June 23, 2027

64,210,141

64,210,141 Issue shares to
acquire assets

June 23, 2027

12,562,853

12,562,853 Issue shares to
acquire assets
12,562,853 Issue shares to
acquire assets

June 23, 2027

12,562,853

547,182,073

June 23, 2027

547,182,073

(III) REPURCHASE, SALE OR REDEMPTION OF LISTED SECURITIES OF THE COMPANY
During the Reporting Period, neither the Company nor its subsidiaries had conducted any repurchase, sale or redemption
of any ordinary shares (including sale of treasury shares, as defined under the Hong Kong Listing Rules). As at June 30,
2026, there were no treasury shares held by the Company.

SMIC

2026 Interim Report

45

SECTION 6 CHANGES IN SHARES AND INFORMATION OF SHAREHOLDERS

II. PARTICULARS OF SHAREHOLDERS
(I)

TOTAL NUMBER OF SHAREHOLDERS
Number of
registered
shareholders

Total number of shareholders of ordinary shares as at the end of the Reporting Period(Note)

296,744

Note: As at the end of the Reporting Period, 296,744 registered shareholders consist of 287,089 shareholders holding A Shares and
9,655 shareholders holding Hong Kong Shares.

(II)

SUBSTANTIAL SHAREHOLDERS

As at June 30, 2026, based on the notice of disclosure of interests and public information, the following persons (other
than the Directors and chief executives of the Company) had interests or short positions in 5% or more of the issued
shares and underlying shares which are required to be disclosed to the Company pursuant to the provisions of Divisions
2 and 3 of Part XV of the Hong Kong Securities and Futures Ordinance (“SFO”) or which are recorded in the register
required to be kept by the Company under Section 336 of the SFO:

Long/short
position

Nature of
interests

China Information and
Communication Technology
Group Co., Ltd.

Long Position

China Integrated Circuit Industry
Investment Fund Co., Ltd.

Long Position

Beneficial owner/
interest of
corporation
controlled
Beneficial owner/
interest of
corporation
controlled

Name of shareholders

Number of ordinary
shares held

Unit: Share
Percentage of
total interests to
total issued share
capital(1)
Total interests

Held directly

Held indirectly

Derivatives

72,470,855(2)

1,083,042,595(2)

–

1,155,513,450

13.50%

357,343,396(3)

224,989,311(3)

–

582,332,707

6.80%

Notes:
(1)

Based on 8,560,805,995 shares in issue as at June 30, 2026.

(2)

According to the disclosure of interests notice regarding the relevant event dated June 26, 2026 submitted by CICT, CICT holds
a total of 1,155,513,450 shares of the Company, of which 1,083,042,595 Hong Kong shares are held by Datang HK, a whollyowned subsidiary of Datang Holdings, which in turn is wholly-owned by CICT, while 72,470,855 RMB shares are held directly by
CICT.

(3)

According to the disclosure of interests notice regarding the relevant event dated June 25, 2026 submitted by China IC Fund,
China IC Fund holds a total of 582,332,707 shares of the Company, of which 224,989,311 Hong Kong shares are held by Xinxin
HK, a wholly-owned subsidiary of Xunxin (Shanghai) Investment Co., Ltd., which in turn is wholly-owned by China IC Fund, while
357,343,396 RMB shares are held directly by China IC Fund.

(III) PARTICULARS OF SHAREHOLDINGS OF THE TOP TEN SHAREHOLDERS AND THE TOP
TEN SHAREHOLDERS NOT SUBJECT TO SELLING RESTRICTIONS AS OF THE END OF THE
REPORTING PERIOD

Particulars of shareholdings of the top ten shareholders through both general securities
accounts and securities accounts with customer credit trading guarantee in securities
company

46

SMIC

1.

As of the end of the Reporting Period, the Company had issued 8,560,805,995 shares, consisting of 6,014,061,373
shares in Hong Kong, accounting for approximately 70.25% of the total share capital of the Company and
2,546,744,622 shares in SSE STAR Market, accounting for approximately 29.75% of the total share capital of the
Company.

2.

The Company’s Hong Kong Share register is provided by Computershare Hong Kong Investor Services Limited,
among which, shares held by HKSCC NOMINEES LIMITED on behalf of non-registered shareholders of the Company
account for approximately 99.78% of the Company’s Hong Kong Shares; shares held by other registered shareholders
account for approximately 0.22% of the Company’s Hong Kong Shares.

3.

Pursuant to the Hong Kong Securities and Futures Ordinance, shareholders holding interests in 5% or more of
any class of voting shares of the Company are required to make their own declaration of interests. According
to the declaration of shareholders’ interests, Datang HK held 1,083,042,595 Hong Kong Shares and Xinxin HK
held 224,989,311 Hong Kong Shares. The Company has excluded the number of shares held by the aforesaid
shareholders from the number of shares held by HKSCC NOMINEES LIMITED in the table below.

2026 Interim Report

SECTION 6 CHANGES IN SHARES AND INFORMATION OF SHAREHOLDERS
Unit: Share

Name of shareholders
HKSCC NOMINEES LIMITED
Datang Holdings (Hongkong)
Investment Company Limited
China Integrated Circuit Industry
Investment Fund Co., Ltd.
Xinxin (Hongkong) Capital Co.,
Ltd.
Sino IC Capital Co., Ltd. – China
Integrated Circuit Industry
Investment Fund (Phase II)
Co., Ltd.
Beijing Semiconductor
Manufacturing and Equipment
Equity Investment Center
(Limited Partnership)
China Information and
Communication Technology
Group Co., Ltd.
Beijing E-town International
Investment and Development
Co., Ltd.
Guoxin Investment Co., Ltd.
China Merchants Bank Co.,
Ltd. – ChinaAMC SSE STAR 50
Exchange Traded Funds* (華夏上
證科創板50成份交易型開放式指
數證券投資基金)

Particulars of shareholdings of top ten shareholders (excluding shares lent through securities financing)
Number of
restricted
shares
including
Number of
Increase/
shares lent
Number of
shares held
(decrease)
Pledged, marked or frozen
through
shares held
during the at the end of
securities
Status of
Reporting the Reporting Percentage with selling
financing
shares
Number
restrictions
Period
(%)
Period

Nature of shareholders

213,738,237
(42,000,000)

4,692,939,101
1,083,042,595

54.82
12.65

–
–

–
–

Unknown
Nil

–
–

Unknown
Overseas legal person

357,343,396

357,343,396

4.17

357,343,396

357,343,396

Nil

–

State-owned legal person

(157,912,712)

224,989,311

2.63

–

–

Nil

–

Overseas legal person

–

127,458,120

1.49

–

–

Nil

–

State-owned legal person

100,502,830

100,502,830

1.17

100,502,830

100,502,830

Nil

–

Others

–

72,470,855

0.85

–

–

Nil

–

State-owned legal person

64,210,141

64,210,141

0.75

64,210,141

64,210,141

Nil

–

State-owned legal person

39,430,200
(32,131,724)

43,375,773
32,377,586

0.51
0.38

–
–

–
–

Nil
Pledged

–
1,625,000

State-owned legal person
Others

Particulars of shareholding of top ten shareholders not subject to selling restrictions (excluding shares lent through securities financing)
Type and number of shares
Number of tradable shares
held without selling
restrictions Type
Name of shareholders
HKSCC NOMINEES LIMITED
Datang Holdings (Hongkong) Investment Company Limited
Xinxin (Hongkong) Capital Co., Ltd.
Sino IC Capital Co., Ltd. – China Integrated Circuit Industry Investment Fund (Phase
II) Co., Ltd.
China Information and Communication Technology Group Co., Ltd.
Guoxin Investment Co., Ltd.
China Merchants Bank Co., Ltd. – ChinaAMC SSE STAR 50 Exchange Traded Funds*
(華夏上證科創板50成份交易型開放式指數證券投資基金)
CITIC Securities Company Limited-Harvest SGX-STEM Chip Traded Open-end Index
Securities Investment Fund* (嘉實上證科創板芯 片交易型開放式指數證券投資基金)
Industrial and Commercial Bank of China Limited – E Fund SSE STAR 50 Exchange
Traded Funds* (易方達上證科創板50成份交易型開放式指數證券投資基金)
China Construction Bank Corporation-ChinaAMC CNI Semiconductor Wafer
Exchange Traded Funds* (華夏國證半導體芯片交易型開放式指數證券投資基金)
Explanations on affiliated relationship or parties acting in concert among the
abovementioned shareholders

4,692,939,101
1,083,042,595
224,989,311
127,458,120

Overseas listed foreign shares
Overseas listed foreign shares
Overseas listed foreign shares
RMB Ordinary Shares

Number
4,692,939,101
1,083,042,595
224,989,311
127,458,120

72,470,855
43,375,773
32,377,586

RMB Ordinary Shares
RMB Ordinary Shares
RMB Ordinary Shares

72,470,855
43,375,773
32,377,586

30,760,679

RMB Ordinary Shares

30,760,679

19,795,620

RMB Ordinary Shares

19,795,620

15,483,752

RMB Ordinary Shares

15,483,752

1. Datang HK is a wholly-owned subsidiary of CICT.
2. Xinxin HK is a wholly-owned subsidiary of China IC Fund.
3. Zhang Xin (張新), Xu Wenli (徐文立), Tang Xuefeng (唐雪峰) and Yang Gaofeng (楊高峰), directors of
China IC Fund, also serve as the directors of China IC Fund II. Supervisors Qin Bin (秦斌) and Lu Wei (盧偉)
also serve as supervisors of China IC Fund II.
4. As the fund manager, Sino IC Capital Co., Ltd. manages China IC Fund and China IC Fund II in
accordance with the respective entrusted management agreements.
5. China IC Fund and China IC Fund II have some of the same shareholders.
Apart from these, the Company does not know whether the other shareholders mentioned above have
affiliated relationship or parties acting in concert.

SMIC

2026 Interim Report

47

SECTION 6 CHANGES IN SHARES AND INFORMATION OF SHAREHOLDERS
(IV) THE NUMBER OF SHARES HELD BY TOP TEN SHAREHOLDERS SUBJECT TO SELLING
RESTRICTIONS AND THE CONDITIONS OF SELLING RESTRICTIONS

Number of
restricted
shares held

Unit: Share
Eligibility of restricted shares
for trading
Number of new
shares available
for trading Restrictions on the sale
Tradable day

No.

Name of shareholders subject to selling restrictions

1

China Integrated Circuit Industry Investment Fund Co., Ltd. 357,343,396

June 23, 2027

–

2

Beijing Semiconductor Manufacturing and Equipment
Equity Investment Center (Limited Partnership)
Beijing E-town International Investment and Development
Co., Ltd.
Zhongguancun Development Group Co., Ltd.

100,502,830

June 23, 2027

–

64,210,141

June 23, 2027

–

12,562,853

June 23, 2027

–

Beijing Industrial Development Investment Management
Co., Ltd.

12,562,853

June 23, 2027

–

3
4
5

New shares issued for asset acquisition
with 12-month lock-up period
New shares issued for asset acquisition
with 12-month lock-up period
New shares issued for asset acquisition
with 12-month lock-up period
New shares issued for asset acquisition
with 12-month lock-up period
New shares issued for asset acquisition
with 12-month lock-up period

(V) STRATEGIC INVESTORS OR GENERAL LEGAL PERSONS BECOMING TOP TEN SHAREHOLDERS
BECAUSE OF THE NEW SHARE PLACING/DEPOSITARY RECEIPTS
Name of strategic investors or general legal
persons

Stipulated start date of
shareholding

Stipulated end date of
shareholding

China Integrated Circuit Industry Investment Fund
(Phase II) Co., Ltd.
China Information and Communication Technology
Group Co., Ltd.
Explanation on agreed shareholding period of
strategic investors or general legal persons
participating in placing of new shares

July 16, 2020

Nil

July 16, 2020

Nil

The lock-up period was within twelve months from the
date of initial public offering of shares and listing on
SSE STAR Market.

III. DIRECTORS, SENIOR MANAGEMENT AND CORE TECHNICIANS
(I)

CHANGES IN A-SHARES HOLDING OF CURRENT AND RESIGNED DIRECTORS, SENIOR
MANAGEMENT AND CORE TECHNICIANS DURING THE REPORTING PERIOD

Name

Position

Yan Dayong

Vice President, Core
Technician

(II)

1.
(1)

Number
of shares
held at the
beginning
of the
period

Number
of shares
held at the
end of the
period

Changes
in shares
held for the
Reporting
Period

28,000

–

(28,000)

Reason for changes
Trading in secondary
market

THE EQUITY INCENTIVES GRANTED TO THE DIRECTORS, SENIOR MANAGEMENT AND CORE
TECHNICIANS DURING THE REPORTING PERIOD

Stock options of Directors and chief executives
2014 Stock Option Plan – Hong Kong Share

Unit: Share

Name
1/1/2026

Lapsed number during the reporting period

Co-Chief Executive Officer

Liang Mong Song Co-Chief Executive Officer
Total

48

SMIC

Options
grant
date

Position
Number of new grants during the reporting period

Zhao Haijun

2026 Interim Report

Number
Lapsed Cancelled Exercised
of new
Exercise
number
number
number
grants
Held/
price at
grant date unexercised during the during the during the during the
per share number as Reporting Reporting Reporting Reporting
Period
Period
Period
Period
(HKD) of 1/1/2026
Cancelled number during the reporting period

9/7/2017
5/25/2020
5/31/2021
5/25/2020

Exercised number during the reporting period

7.90
18.10
24.50
18.10

Weighted average closing price of Hong Kong Shares immediately before exercise dates (HKD)

Unexercised number as of 6/30/2026

Closing price of Hong Kong Shares immediately before grant dates (HKD)

Weighted
average
closing price
of Hong
Held/
Kong Shares
immediately unexercised
number
before
as of
exercise
dates (HKD) 06/30/2026

Closing price
of Hong
Kong Shares
immediately
before grant
dates (HKD)

Exercisable period

7.83
16.92
24.15
16.92

9/7/2017-9/6/2027
5/25/2020-5/24/2030
5/31/2021-5/30/2031
5/25/2020-5/24/2030

Exercisable period

1,687,500
219,706
277,149
659,117

–
–
–
–

–
–
–
–

–
–
–
–

–
–
–
–

2,843,472

–

–

–

–

–
–
–
–

1,687,500
219,706
277,149
659,117
2,843,472

SECTION 6 CHANGES IN SHARES AND INFORMATION OF SHAREHOLDERS
2.
(1)

Restricted Share Units of Directors and chief executives
2014 Equity Incentive Plan – Hong Kong Share
Unit: Share

Name

Position

Wu Hanming

Independent Nonexecutive Director
Co-Chief Executive
Officer
Co-Chief Executive
Officer

Zhao Haijun
Liang Mong Song

–

–

–

–

94,350

15.00 8/11/2022-8/11/2025

–

–

100,385

68.00

–

–

16.80 3/1/2022-3/1/2026

–

–

–

100,385

68.00

–

–

16.80 3/1/2022-3/1/2026

–

–

–

200,770

–

94,350

Number
Lapsed Cancelled
of new
number
number
grants
during the during the during the
Reporting Reporting Reporting
Period
Period
Period

RSUs grant
date

Purchase
price per
share
(HKD)

Held
number as
of 1/1/2026

Unvested
number
as of
1/1/2026

9/5/2022

0.031

94,350

–

–

–

4/8/2022

0.031

100,385

100,385

–

4/8/2022

0.031

100,385

100,385

295,120

200,770

Total

(2)

Vested
number
during the
Reporting
Period

Weighted
average
closing price
of Hong
Kong Shares
immediately
before
vesting
dates (HKD)

Held
Unvested
number
number
as of
as of
06/30/2026 06/30/2026

Closing price
of Hong
Kong Shares
immediately
before
grant dates
(HKD) Exercisable period

2024 Equity Incentive Plan – Hong Kong Share
Unit: Share

Name

Position

Chairman and Executive 4/1/2024
Director
4/1/2025
4/1/2026
Co-Chief Executive
4/1/2024
Officer
4/1/2025
4/1/2026
Co-Chief Executive
4/1/2024
Officer
4/1/2025
4/1/2026

Zhao Haijun

Liang Mong Song

Total

–

49,387

50.70

–

49,387

15.16 4/1/2024-4/1/2026

–
–
–

–
–
–

37,313
58,991
45,405

50.70
50.70
50.70

24,875
58,992
–

105,298
117,983
–

46.10 4/1/2025-4/1/2027
50.70 4/1/2026-4/1/2028
15.16 4/1/2024-4/1/2026

–
80,181
–

–
–
–

–
–
–

22,369
40,090
45,405

50.70
50.70
50.70

14,912
40,091
–

14,912
40,091
–

46.10 4/1/2025-4/1/2027
50.70 4/1/2026-4/1/2028
15.16 4/1/2024-4/1/2026

37,281
–

–
80,181

–
–

–
–

22,369
40,090

50.70
50.70

14,912
40,091

14,912
40,091

46.10 4/1/2025-4/1/2027
50.70 4/1/2026-4/1/2028

276,947

278,345

–

–

361,419

193,873

382,674

Number
Lapsed Cancelled
of new
number
number
grants
during the during the during the
Reporting Reporting Reporting
Period
Period
Period

Held
number
as of
1/1/2026

Unvested
number
as of
1/1/2026

0.031

106,308

49,387

–

–

0.031
0.031
0.031

124,377
–
45,405

62,188
–
45,405

–
117,983
–

0.031
0.031
0.031

37,281
–
45,405

37,281
–
45,405

0.031
0.031

37,281
–
396,057

Consideration
for the grant
per share
RSUs grant
(HKD)
date

Liu Xunfeng

Vested
number
during the
Reporting
Period

Weighted
average
closing price
of Hong
Kong Shares
immediately
before
vesting
dates (HKD)

Held
Unvested
number
number
as of
as of
06/30/2026 06/30/2026

Closing price
of Hong
Kong Shares
immediately
before
grant dates
(HKD) Vesting period

Note: Please refer to “V. Information about the Company’s Stock Incentive Plans, Employee Equity Incentive Plan or Other Employee
Incentive Measures and Their Impacts” in “Section 4 Corporate Governance, Environment and Society” for details of the performance
targets, the fair value on the date of grant and the accounting standards and policies adopted in respect of the RSUs granted
during the Reporting Period.



SMIC

2026 Interim Report

49

SECTION 6 CHANGES IN SHARES AND INFORMATION OF SHAREHOLDERS
(III) THE INTERESTS AND RIGHTS OF DIRECTORS AND CHIEF EXECUTIVES REQUIRED TO BE
DISCLOSED UNDER THE HONG KONG LISTING RULES
As at June 30, 2026, the interests or short positions of the Directors and the chief executive officer in the Shares,
underlying Shares and debentures of the Company or any of its associated corporation (within the meaning of Part XV
of the SFO), which were notified to the Company and the Stock Exchange pursuant to Divisions 7 and 8 of Part XV of
the SFO (including interests or short positions which they are taken or deemed to have under such provisions of the
SFO), and as recorded in the register required to be kept under section 352 of the SFO or as otherwise notified to the
Company and the Hong Kong Stock Exchange pursuant to the Model Code for Securities Transactions by Directors of
Listed Issuers were as follows:

Name
Executive Director
Liu Xunfeng
Non-executive Directors
Lu Guoqing
Chen Shanzhi
Yang Lumin
Huang Dengshan
Independent Non-executive Directors
Fan Ren Da Anthony
Liu Ming
Wu Hanming
Chen Xinyuan
Co-Chief Executive Officers
Zhao Haijun
Liang Mong Song

Long/short
position

Nature of
interests

Long Position

Beneficial Owner

–
–
–
–

–
–
–
–

Long Position
Long Position
Long Position
–
Long Position
Long Position

Number of
Ordinary
Shares held

Derivatives
Restricted
Options
Share Units
(Hong Kong (Hong Kong
Share)(2)
Share)(2)

Percentage
of aggregate
interests
to total
issued share
Total capital of the
Company(1)
interests
(share)
(%)

216,628

–

272,668

489,296

0.006

–
–
–
–

–
–
–
–

–
–
–
–

–
–
–
–

–
–
–
–

Beneficial Owner
Beneficial Owner
Beneficial Owner
–

405,754
83,908
91,575
–

–
–
–
–

–
–
94,350
–

405,754
83,908
185,925
–

0.005
0.001
0.002
–

Beneficial Owner
Beneficial Owner

619,924
646,331

2,184,355
659,117

55,003
55,003

2,859,282
1,360,451

0.033
0.016

Notes:
(1)

Based on 8,560,805,995 shares in issue as at June 30, 2026.

(2)

As at June 30, 2026, the interests held by Directors and Co-CEOs were all in Hong Kong Shares. For details of options (Hong
Kong Share) and RSUs (Hong Kong Share), please refer to “2014 Stock Option Plan-Hong Kong Share”, “2014 Equity Incentive
Plan-Hong Kong Share” and “2024 Equity Incentive Plan-Hong Kong Share” in this section.

50

SMIC

2026 Interim Report

SECTION 7 FINANCIAL REPORT
SEMICONDUCTOR MANUFACTURING INTERNATIONAL CORPORATION
CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
For the six months ended June 30, 2026
(In USD’000, except per share data)
Six months ended

Revenue
Cost of sales
Gross profit
Research and development expenses
Selling and marketing expenses
General and administrative expenses
Impairment losses on financial assets, net
Other operating income
Profit from operations
Interest income
Finance costs
Foreign exchange gain
Other gains/(losses), net
Share of profit or loss of associates and a joint venture

Notes

06/30/26

06/30/25

4

5,511,075
(4,246,832)

4,456,267
(3,500,600)

1,264,243
(395,619)
(23,764)
(238,170)
3,869
171,412

955,667
(330,811)
(24,301)
(338,211)
(742)
198,646

781,971
132,277
(179,273)
61,964
70,123
198,355

460,248
222,787
(167,155)
16,067
(1,186)
(21,083)

5

6
7

Profit before tax
Income tax expense

8

1,065,417
(101,286)

509,678
(39,575)

Profit for the period

9

964,131

470,103

Other comprehensive income
Items that may be reclassified to profit or loss in subsequent periods
Exchange differences on translating foreign operations
Cash flow hedges

19

44,359
(30,595)

5,774
86,013

Total comprehensive income for the period

977,895

561,890

Profit for the period attributable to:
Owners of the Company
Non-controlling interests

676,645
287,486

320,522
149,581

964,131

470,103

690,407
287,488

412,305
149,585

977,895

561,890

$0.08
$0.08

$0.04
$0.04

SMIC

2026 Interim Report

Total comprehensive income for the period attributable to:
Owners of the Company
Non-controlling interests

Earnings per share
Basic
Diluted

10
10

51

SEMICONDUCTOR MANUFACTURING INTERNATIONAL CORPORATION
CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION
As of June 30, 2026
(In USD’000)
Notes

06/30/26

12/31/25

12
13

33,075,656
363,739
23,884
2,501,476
82
37,747
1,359,264
1,065,898
3,405

32,557,778
374,956
20,397
1,309,570
79
35,212
810,501
1,532,265
5,521

38,431,151

36,646,279

4,360,884
77,586
1,512,779
85,206
4,489,496
22,916
8,216,015

3,629,802
67,518
1,432,684
380,857
4,150,600
87,151
5,872,500

Assets classified as held-for-sale

18,764,882
3,917

15,621,112
3,917

Total current assets

18,768,799

15,625,029

Total assets

57,199,950

52,271,308

Assets
Non-current assets
Property, plant and equipment
Right-of-use assets
Intangible assets
Investments in associates
Investment in a joint venture
Deferred tax assets
Financial assets at fair value through profit or loss
Financial assets at amortised cost
Other assets

14
14

Total non-current assets

Current assets
Inventories
Prepayment and prepaid operating expenses
Trade and other receivables
Financial assets at fair value through profit or loss
Financial assets at amortised cost
Derivative financial instruments
Cash and cash equivalents

52

SMIC

2026 Interim Report

16
17
14
14
14
15

SEMICONDUCTOR MANUFACTURING INTERNATIONAL CORPORATION
CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION
As of June 30, 2026
(In USD’000)
Notes

06/30/26

12/31/25

18

34,243
20,425,807
(2,845,417)
7,534,851

32,002
14,394,785
154,677
6,858,206

Equity attributable to owners of the Company
Non-controlling interests

25,149,484
12,707,904

21,439,670
13,580,853

Total equity

37,857,388

35,020,523

8,867,616
561
119,346
337,847

9,994,773
838
60,207
377,903

9,325,370

10,433,721

3,465,891
768,461
5,150,096
684
183,443
434,662
11,075
2,880

2,965,981
599,378
2,593,077
7,493
188,930
409,749
18,994
33,462

Total current liabilities

10,017,192

6,817,064

Total liabilities

19,342,562

17,250,785

Total equity and liabilities

57,199,950

52,271,308

SMIC

2026 Interim Report

Equity and liabilities
Capital and reserves
Ordinary shares
Share premium
Other reserves
Retained earnings

Non-current liabilities
Borrowings
Lease liabilities
Deferred tax liabilities
Deferred income

19

20

Total non-current liabilities

Current liabilities
Trade and other payables
Contract liabilities
Borrowings
Lease liabilities
Deferred income
Accrued liabilities
Derivative financial instruments
Current tax liabilities

21
20

14

53

SEMICONDUCTOR MANUFACTURING INTERNATIONAL CORPORATION
CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
For the six months ended June 30, 2026
(In USD’000)

Ordinary
shares
(Note 18)

Share
premium

31,905
–
–

14,266,359
–
–

68,618
–
–

(145,800)
–
5,770

Total comprehensive income for the period

–

–

–

5,770

Issue of shares under share incentive plans
Share-based compensation
Share of other capital reserve of associates
Capital injection from non-controlling interests
Dilution of interests in subsidiaries
Distribution to non-controlling interests

39
–
–
–
–
–

31,961
–
–
–
–
–

(20,893)
17,364
–
–
–
–

–
–
–
–
–
–

Subtotal

39

31,961

(3,529)

–

As at June 30, 2025

31,944

14,298,320

65,089

(140,030)

As at January 1, 2026
Profit for the period
Other comprehensive income for the period

32,002
–
–

14,394,785
–
–

12,369
–
–

(113,061)
–
44,357

Total comprehensive income for the period

–

–

–

44,357

Issuance of ordinary shares
Share issue expenses
Acquisition of non-controlling interests
Issue of shares under share incentive plans
Share-based compensation
Share of other capital reserve of associates
Capital injection from non-controlling interests
Dilution of interests in subsidiaries

2,189
–
–
52
–
–
–
–

5,958,978
(1,182)
–
73,226
–
–
–
–

–
–
–
(71,927)
114,753
–
–
–

–
–
–
–
–
–
–
–

Subtotal

2,241

6,031,022

42,826

–

As at June 30, 2026

34,243

20,425,807

55,195 (1)

As at January 1, 2025
Profit for the period
Other comprehensive income for the period

(1)

54

Foreign
currency
translation
reserve

Equity-settled
employee
benefit reserve

SMIC

(68,704) (1)

These reserve accounts comprise the other reserves of US$-2,845,417 thousand (December 31, 2025: US$154,677 thousand) in the
consolidated statement of financial position.

2026 Interim Report

SEMICONDUCTOR MANUFACTURING INTERNATIONAL CORPORATION
CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
For the six months ended June 30, 2026
(In USD’000)

Others

Retained
earnings

Equity
attributable
to owners of
the Company

(78,269)
–
86,013

297,921
–
–

6,173,075
320,522
–

20,613,809
320,522
91,783

11,255,849
149,581
4

31,869,658
470,103
91,787

86,013

–

320,522

412,305

149,585

561,890

–
–
–
–
–
–

–
–
5,029
–
(4,092)
–

–
–
–
–
–
–

11,107
17,364
5,029
–
(4,092)
–

–
2,141
–
276,899
4,092
(2,314)

11,107
19,505
5,029
276,899
–
(2,314)

–

937

–

29,408

280,818

310,226

7,744

298,858

6,493,597

21,055,522

11,686,252

32,741,774

49,311
–
(30,595)

206,058
–
–

6,858,206
676,645
–

21,439,670
676,645
13,762

13,580,853
287,486
2

35,020,523
964,131
13,764

(30,595)

–

676,645

690,407

287,488

977,895

–
–
–
–
–
–
–
–

–
–
(2,974,291)
–
(58,461)
(1,960)
–
(21,970)

–
–
–
–
–
–
–
–

5,961,167
(1,182)
(2,974,291)
1,351
56,292
(1,960)
–
(21,970)

–
–
(2,986,876)
–
11,755
–
1,792,714
21,970

5,961,167
(1,182)
(5,961,167)
1,351
68,047
(1,960)
1,792,714
–

–

(3,056,682)

–

3,019,407

(1,160,437)

1,858,970

(2,850,624) (1)

7,534,851

25,149,484

12,707,904

37,857,388

Cash flow
hedges
reserve
(Note 19)

18,716 (1)

Non-controlling
interests

Total
equity

SMIC

2026 Interim Report

55

SEMICONDUCTOR MANUFACTURING INTERNATIONAL CORPORATION
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
For the six months ended June 30, 2026
(In USD’000)
Six months ended
06/30/26

06/30/25

Operating activities
Cash generated from operations
Interest paid
Interest received
Income taxes paid

3,062,717
(124,876)
341,891
(72,631)

779,150
(106,382)
254,062
(17,573)

Net cash generated from operating activities

3,207,101

909,257

(582,387)
376,528
(1,907,663)
1,921,885
(2,853,006)
1,698

(204,751)
389,648
(1,301,067)
1,745,503
(3,418,553)
12,741

(6,384)
–
(957,586)
34,156

–
5,168
(77,776)
(51,028)

1,333
3,587

1,794
11,192

Net cash used in investing activities

(3,967,839)

(2,887,129)

Financing activities
Proceeds from borrowings
Repayment of borrowings
Repayment of the principal portion of the lease liabilities
Repayment of bonds
Proceeds from issue of shares under share incentive plans
Capital injection from non-controlling interests
Proceeds from settlement of derivative financial instruments
Distribution to non-controlling interests

2,511,071
(1,491,884)
(7,117)
–
1,351
1,792,714
166,307
–

2,628,543
(1,708,486)
(10,302)
(600,000)
11,107
276,899
8,824
(2,314)

Net cash generated from financing activities

2,972,442

604,271

Net increase/(decrease) in cash and cash equivalents
Cash and cash equivalents at the beginning of the period
Effects of exchange rate changes on cash and cash equivalents

2,211,704
5,872,500
131,811

(1,373,601)
6,364,189
92,087

Cash and cash equivalents at the end of the period

8,216,015

5,082,675

Investing activities
Acquisition of financial assets at fair value through profit or loss
Proceeds from sale of financial assets at fair value through profit or loss
Acquisition of financial assets at amortised cost
Proceeds from maturity of financial assets at amortised cost
Acquisition of property, plant and equipment
Proceeds from disposal of property, plant and equipment and
assets classified as held-for-sale
Acquisition of intangible assets
Proceeds from disposal of land-use right
Capital injection in associates
Proceeds from/(payments for) sale of equity interests in associates and
a joint venture
Dividends received from associates
Proceeds from settlement of derivative financial instruments

56

SMIC

2026 Interim Report

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
For the six months ended June 30, 2026

1.

GENERAL INFORMATION
The Company was established under the laws of the Cayman Islands on April 3, 2000. The Company’s ordinary shares
are listed on the mainboard of The Stock Exchange of Hong Kong Limited and the SSE STAR Market, respectively. The
registered address is at Cricket Square, Hutchins Drive, P.O. Box 2681, Grand Cayman, KY1-1111 Cayman Islands.
The Company is an investment holding company. The subsidiaries of the Company are engaged in the manufacture
and testing of integrated circuits wafer (silicon wafers and various compound semiconductors), the rendering of the
development, design and technical services related to integrated circuits, the manufacture of photomask, the testing
and sale of self-produced products, and other services.

2.

BASIS OF PREPARATION
The unaudited condensed consolidated financial statements of the Group have been prepared in accordance with
International Accounting Standard (“IAS”) 34 “Interim Financial Reporting” issued by the International Accounting
Standards Board as well as with the applicable disclosure requirements of Appendix 16 to the Hong Kong Listing
Rules. The interim condensed consolidated financial statements should be read in conjunction with the Group’s annual
consolidated financial statements for the year ended December 31, 2025, which have been prepared in accordance with
IFRS Accounting Standards.

3.

CHANGES IN ACCOUNTING POLICIES AND DISCLOSURES
The accounting policies adopted in the preparation of the interim condensed consolidated financial information are
consistent with those applied in the preparation of the Group’s annual consolidated financial statements for the year
ended December 31, 2025, except for the adoption of the following amended IFRS Accounting Standards for the first
time for the current period’s financial information.
Amendments to IFRS 9 and IFRS 7
Amendments to IFRS 9 and IFRS 7
Annual Improvements to
IFRS Accounting Standards – Volume 11

Amendments to the Classification and Measurement of
Financial Instruments
Contracts Referencing Nature-dependent Electricity
Amendments to IFRS 1, IFRS 7, IFRS 9, IFRS 10 and IAS 7

The nature and impact of the amended IFRS Accounting Standards are described below:
Amendments to IFRS 9 and IFRS 7 Amendments to the Classification and Measurement of Financial Instruments clarify
that a financial asset is derecognised when the entity’s rights to the contractual cash flows expire or are transferred,
while a financial liability is derecognised on the settlement date. The amendments introduce an accounting policy option
to derecognise a financial liability that is settled through an electronic payment system before the settlement date if
specified criteria are met. The amendments clarify how to assess the contractual cash flow characteristics of financial
assets with environmental, social and governance and other similar contingent features. Moreover, the amendments
clarify the requirements for classifying financial assets with non-recourse features and contractually linked instruments.
The amendments also include additional disclosures for investments in equity instruments designated at fair value through
other comprehensive income and financial instruments with contingent features. Since the Group’s accounting policy for
the derecognition of financial assets and liabilities in prior years aligned with the amendments and the Group did not have
the financial assets that were addressed by the amendments, the amendments did not have any impact on the interim
condensed consolidated financial information. The Group will provide additional disclosures for its equity investments
designated at fair value through other comprehensive income in the Group’s consolidated financial statements for the
year ending December 31 2026.
Amendments to IFRS 9 and IFRS 7 Contracts Referencing Nature-dependent Electricity clarify the application of the
“own-use” requirements for in-scope contracts and amend the designation requirements for a hedged item in a cash
flow hedging relationship for in-scope contracts. The amendments also include additional disclosures that enable users
of financial statements to understand the effects these contracts have on an entity’s financial performance and future
cash flows. As the Group did not have any contracts that are in the scope of the amendments, the amendments did not
have any impact on the interim condensed consolidated financial information.
Annual Improvements to IFRS Accounting Standards – Volume 11 set out narrow scope amendments to IFRS 1, IFRS 7 (and
the accompanying Guidance on implementing IFRS 7), IFRS 9, IFRS 10 and IAS 7. The amendments include clarifications,
simplifications, corrections or changes to improve consistency in the corresponding IFRS Accounting Standards. The
amendments did not have any impact on the interim condensed consolidated financial information.

SMIC

2026 Interim Report

57

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
For the six months ended June 30, 2026

4.

SEGMENT INFORMATION AND REVENUE
DESCRIPTION OF SEGMENTS
For management purposes, the Group operates in one segment, engaging principally in the manufacture and sale of
integrated circuits. Management makes high-level strategic decisions and reviews the consolidated results of the Group.

DISAGGREGATION OF REVENUE FROM CONTRACTS WITH CUSTOMERS
The Group’s operating revenue from customers is detailed as below:
Six months ended

By region
China
America
Eurasia

By type of goods or services
wafers
Masks, testing and others

By timing of revenue recognition
Goods transferred at a point in time
Services transferred over time

5.

06/30/26
USD’000

06/30/25
USD’000

4,938,357
479,870
92,848

3,752,855
566,997
136,415

5,511,075

4,456,267

5,196,844
314,231

4,228,551
227,716

5,511,075

4,456,267

5,510,876
199

4,443,580
12,687

5,511,075

4,456,267

OTHER OPERATING INCOME
Six months ended

Government funding
Others

6.

06/30/26
USD’000

06/30/25
USD’000

154,083
17,329

173,820
24,826

171,412

198,646

FINANCE COSTS
Six months ended

Interest on:
Bank borrowings
Leases
Corporate bonds
Cash flow hedges

58

SMIC

2026 Interim Report

06/30/26
USD’000

06/30/25
USD’000

114,300
73
–
64,900

102,209
207
2,821
61,918

179,273

167,155

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
For the six months ended June 30, 2026

7.

OTHER GAINS/(LOSSES), NET
Six months ended
06/30/26
USD’000

06/30/25
USD’000

Fair value gains/(losses), net and dividend income
from financial assets:
Structural deposits and monetary funds
Equity instruments

2,041
38,785

3,883
(4,785)

Gain on deemed disposal of associates(1)
Others

40,826
27,192
2,105

(902)
1,103
(1,387)

70,123

(1,186)

(1)

8.

Gain on deemed disposal of associates represents the impact of dilution of the Group’s equity interests in associates as a result
of capital injection to associates by other investors.

INCOME TAX EXPENSE
Six months ended

Current tax
– Land Appreciation Tax
– Enterprise Income Tax
Deferred tax

06/30/26
USD’000

06/30/25
USD’000

–
46,689
54,597

3,535
47,758
(11,718)

101,286

39,575

INCOME TAX RATE
The Company is incorporated in the Cayman Islands, and not currently subject to taxation. The applicable corporate
income tax rates for the Group’s entities located in Chinese Mainland are as follows:
According to tax laws and regulations of the People’s Republic of China, the standard corporate income tax rate is 25%.
Some subsidiaries of the Company were qualified as high-tech enterprises and were entitled to enjoy the preferential
corporate income tax rate of 15% in 2026.

Pillar Two income taxes
By assessing and considering the transitional safe harbour test relief for the tax jurisdictions where the constituent entities
of the Group is located in 2026, the Group does not expect a material exposure to Pillar Two income taxes.

SMIC

2026 Interim Report

59

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
For the six months ended June 30, 2026

9.

PROFIT FOR THE PERIOD
Profit for the period has been arrived at after charging/(crediting):
Six months ended

Depreciation of property, plant and equipment
Depreciation of right-of-use assets
Amortisation of intangible assets
Impairment losses recognised on inventories
(Reversal)/addition in allowance on doubtful trade
and other receivables
Equity-settled share-based payment expense

06/30/26
USD’000

06/30/25
USD’000

2,285,747
11,217
2,896
24,142
(3,869)

1,725,627
14,516
4,237
32,273
742

68,047

19,505

10. EARNINGS PER SHARE
BASIC EARNINGS PER SHARE
The earnings and weighted average number of ordinary shares used in the calculation of basic earnings per share are
as follows:
(In USD’000, except share
and per share data)
Six months ended

Earnings used in the calculation of basic earnings per share
Weighted average number of ordinary shares for the purposes of
basic earnings per share (share)
Basic earnings per share

06/30/26

06/30/25

676,645
8,027,718,260

320,522
7,982,403,484

$0.08

$0.04

DILUTED EARNINGS PER SHARE
The earnings and weighted average number of ordinary shares used in the calculation of diluted earnings per share are
as follows:
(In USD’000, except share
and per share data)
Six months ended
06/30/26

06/30/25

676,645

320,522

Weighted average number of ordinary shares used in
the calculation of basic earnings per share (share)
Adjustments for share incentive plans (share)

8,027,718,260

7,982,403,484

10,431,202

23,164,671

Weighted average number of ordinary shares used in
the calculation of diluted earnings per share (share)

8,038,149,462

8,005,568,155

$0.08

$0.04

Earnings used in the calculation of diluted earnings per share

Diluted earnings per share

11. DIVIDEND
The board of directors did not recommend the payment of any dividend for the six months ended June 30, 2026 (six
months ended June 30, 2025: nil).

60

SMIC

2026 Interim Report

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
For the six months ended June 30, 2026

12. PROPERTY, PLANT AND EQUIPMENT
Six months ended
06/30/26
USD’000

06/30/25
USD’000

As at January 1
Additions
Depreciation
Disposals and others

32,557,778
3,524,000
(2,285,747)
(720,375)

28,092,037
3,447,228
(1,725,627)
(1,322)

As at June 30

33,075,656

29,812,316

13. LEASES
The carrying amounts of the Group’s right-of-use assets during this period are as follows:

Buildings
Machinery and equipment
Land use right

06/30/26
USD’000

12/31/25
USD’000

1,188
–
362,551

1,596
6,533
366,827

363,739

374,956

For the six months ended June 30, 2026, there were no new additions to the right-of-use assets (six months ended
June 30, 2025: nil).

14. FINANCIAL ASSETS AND FINANCIAL LIABILITIES
The Group holds the following financial instruments:

Financial assets
Non-current portion
Financial assets at fair value through profit or loss
Equity instruments – listed companies
Equity instruments – unlisted companies
Financial assets at amortised cost
Bank deposits maturing more than 1 year
Current portion
Financial assets at fair value through profit or loss
Structural deposits
Monetary funds
Financial assets at amortised cost
Bank deposits maturing more than 3 months and within 1 year
Other financial assets at amortised cost
Cash and cash equivalents
Financial assets included in trade and other receivables(1) (Note 17)
Derivative financial instruments
Cross currency swap contracts – cash flow hedges
Forward exchange contracts – cash flow hedges

(1)

06/30/26
USD’000

12/31/25
USD’000

28
1,359,236

29
810,472

1,065,898

1,532,265

25,713
59,493

323,806
57,051

4,489,496

4,150,600

8,216,015
1,111,184

5,872,500
962,871

20,582
2,334

84,151
3,000

16,349,979

13,796,745

Financial assets included in trade and other receivables excluded the value-added tax to be deducted and tax recoverables.

SMIC

2026 Interim Report

61

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
For the six months ended June 30, 2026

14. FINANCIAL ASSETS AND FINANCIAL LIABILITIES (continued)
Financial liabilities

06/30/26
USD’000

12/31/25
USD’000

Non-current portion
Financial liabilities at amortised cost
Borrowings (Note 20)
Lease liabilities

8,867,616
561

9,994,773
838

3,448,711

2,946,616

5,150,096
684

2,593,077
7,493

10,978
97

18,994
–

17,478,743

15,561,791

06/30/26
USD’000

12/31/25
USD’000

Cash and bank balances
Non-pledged time deposits with original maturity of
less than three months when acquired

8,061,455
154,560

5,744,303
128,197

Cash and cash equivalents as stated in the statement of
financial position and in the statement of cash flows

8,216,015

5,872,500

06/30/26
USD’000

12/31/25
USD’000

5,547,375
1,871,063
626,739
150,131
19,494
1,213

4,305,282
866,228
537,257
148,122
14,414
1,197

8,216,015

5,872,500

06/30/26
USD’000

12/31/25
USD’000

2,025,829
1,905,374
429,681

1,786,581
1,490,075
353,146

4,360,884

3,629,802

Current portion
Financial liabilities at amortised cost
Financial liabilities included in trade and other payables
and accrued liabilities
Borrowings (Note 20)
Lease liabilities
Derivative financial instruments
Cross currency swap contracts – cash flow hedges
Forward exchange contracts – cash flow hedges

15. CASH AND CASH EQUIVALENTS
ANALYSIS OF BALANCES OF CASH AND CASH EQUIVALENTS

CURRENCIES IN WHICH CASH AND CASH EQUIVALENTS ARE HELD

RMB
USD
JPY
EUR
HKD
TWD

16. INVENTORIES

Raw materials
Work in progress
Finished goods

62

SMIC

2026 Interim Report

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
For the six months ended June 30, 2026

17. TRADE AND OTHER RECEIVABLES

Trade receivables
Allowance on doubtful trade receivables

Other receivables
Allowance on doubtful other receivables

Notes receivables
Value-added tax to be deducted
Tax recoverables
Investment receivables
Dividend receivables
Refundable deposits and surety

06/30/26
USD’000

12/31/25
USD’000

1,045,183
(1,262)

881,991
(5,231)

1,043,921

876,760

8,283
(328)

7,773
(275)

7,955

7,498

38,062
388,012
13,583
9,701
–
11,545

44,523
458,582
11,231
14,790
1,486
17,814

1,512,779

1,432,684

The following is an aging analysis of trade receivables presented based on the invoice date at the end of the Reporting
Period.

Age of trade receivables

06/30/26
USD’000

12/31/25
USD’000

Not overdue
Within 1 year
1-2 years
2-3 years
Over 3 years

949,735
95,166
79
192
11

794,937
82,237
4,611
183
23

1,045,183

881,991

Trade receivables are amounts due from customers for goods sold or services rendered in the ordinary course of business,
which are generally due for settlement within 30-90 days. Trade receivables are recognised initially at the amount of
consideration that is unconditional unless they contain significant financing components, when they are recognised at
fair value. The Group holds the trade receivables with the objective to collect the contractual cash flows and therefore
measures at amortised cost using the effective interest method. The Group does not hold any collateral or other credit
enhancements over the trade receivable balances.
The following is an aging analysis of other receivables at the end of the Reporting Period.

Age of other receivables
Within 1 year
1-2 years
2-3 years
Over 3 years

06/30/26
USD’000

12/31/25
USD’000

7,533
20
667
63

7,073
609
60
31

8,283

7,773

Due to the short-term nature of the current receivables, the carrying amounts of trade and other receivables are considered
to be the same as their fair value.

SMIC

2026 Interim Report

63

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
For the six months ended June 30, 2026

18. SHARES AND ISSUED CAPITAL
Six months ended 06/30/26
Number
USD’000

Six months ended 06/30/25
Number
USD’000

As at January 1
Issue of shares under
share incentive plans
Issue of shares to acquire
non-controlling interests

8,000,408,035
13,215,887

32,002
52

7,976,149,966
9,912,477

31,905
39

547,182,073

2,189

–

–

As at June 30

8,560,805,995

34,243

7,986,062,443

31,944

19. OTHER RESERVES
CASH FLOW HEDGES RESERVE
To mitigate the impact of volatility of future cash flows caused by the changes in exchange rates and interest rates
associated with outstanding debts, the Group entered into several cross currency swap contracts, interest rate swap
contracts and forward exchange contracts, which were designated as hedging instruments. Any gains or losses arising
from changes in fair value of these hedging instruments are taken directly to profit or loss, except for the effective
portion of cash flow hedges, which is recognised in other comprehensive income/(loss) and later reclassified to profit or
loss when the hedged item affects profit or loss.
The hedging reserve is used to record gains or losses on derivatives designated and qualified as cash flow hedges that
are recognised in other comprehensive income. Amounts will be reclassified to profit or loss when the associated hedged
transaction affects profit or loss.
Six months ended
06/30/26
USD’000

06/30/25
USD’000

Other comprehensive income on cash flow hedges recognised
Fair value gain
Offset foreign exchange (loss)/gain
Added finance cost
Deferred tax liabilities

150,365
(234,079)
53,176
(57)

18,833
18,717
46,795
1,668

As at January 1

(30,595)
49,311

86,013
(78,269)

As at June 30

18,716

7,744

OTHERS
The change in others was primarily due to the issuance of ordinary shares to acquire non-controlling interests. The excess
of the consideration over the non-controlling interests reduced other reserves by US$2,974,291 thousand.

64

SMIC

2026 Interim Report

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
For the six months ended June 30, 2026

20. BORROWINGS
At amortised cost

06/30/26
USD’000

12/31/25
USD’000

Short-term bank (unsecured)

2,129,459

490,710

Long-term bank borrowings (secured) – Guaranteed loans
Long-term bank borrowings (unsecured)

6,749,846
5,138,407

6,662,227
5,434,913

14,017,712

12,587,850

2,129,459
3,020,637

490,710
2,102,367

5,150,096

2,593,077

8,867,616

9,994,773

14,017,712

12,587,850

5,150,096
632,466
1,775,139
6,460,011

2,593,077
1,790,459
1,437,005
6,767,309

14,017,712

12,587,850

12,729,007
1,288,705

12,097,140
490,710

14,017,712

12,587,850

8,859,703
5,158,009

6,606,218
5,981,632

14,017,712

12,587,850

06/30/26
USD’000

12/31/25
USD’000

1.79%
3.84%

1.74%
3.84%

Current portion
Short-term bank borrowings
Long-term bank borrowings maturing within 1 year

Non-current portion
Long-term bank borrowings maturing more than 1 year

Borrowings repayable period
Within 1 year
1-2 years
2-5 years
Over 5 years

Borrowings by currency
RMB
USD

Borrowings by type of interest rate
Fixed interest rate
Variable interest rate

The weighted average effective interest rates of borrowings are set out as follows:

RMB
USD
The above interest rates do not include the impact of hedging Instruments.

As of June 30, 2026, there were no pledged loans (December 31, 2025: nil) secured by the pledge of bank deposits.
The fair values of borrowings approximate to their carrying amounts, since either the interest payable on those borrowings
is close to current market rates, or the borrowings are of a short-term nature.

SMIC

2026 Interim Report

65

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
For the six months ended June 30, 2026

21. TRADE AND OTHER PAYABLES

Payables for property, plant and equipment
Trade payables
Deposits received
Notes payables
Others

06/30/26
USD’000

12/31/25
USD’000

2,056,204
913,461
244,742
40,331
211,153

1,633,573
830,042
291,743
19,301
191,322

3,465,891

2,965,981

Trade and other payables are non-interest-bearing and are normally settled on terms of 30 to 60 days.
The following is an aging analysis of trade payables, notes payables and payables for property, plant and equipment
presented based on the invoice date at the end of the Reporting Period:

Within 30 days
31-60 days
Over 60 days

06/30/26
USD’000

12/31/25
USD’000

2,845,848
114,284
49,864

2,328,915
116,333
37,668

3,009,996

2,482,916

The carrying amounts of trade and other payables are considered to be the same as their fair values, due to their shortterm nature.

22. SHARE-BASED PAYMENTS
SHARE INCENTIVE PLANS
The Company’s share incentive plans allow the Company to offer a variety of incentive awards, including 2014 Stock
Option Plan, 2014 Equity Incentive Plan, 2024 Equity Incentive Plan and 2021 STAR Market Restricted Share Incentive
Scheme, to employees of the Group.
The expense arising from equity-settled share-based payments for the six months ended June 30, 2026 was US$68.0
million (six months ended June 30, 2025: US$19.5 million).

MOVEMENTS DURING THIS PERIOD

2014 Stock Option Plan

The following table illustrates the number and weighted average exercise prices (“WAEP”) of, and movements in, stock
options during this period:
Six months ended 06/30/26
Number
WAEP

Six months ended 06/30/25
Number
WAEP

Outstanding at January 1
Lapsed during the period
Exercised during the period

9,161,696
(62,427)
(559,257)

HKD16.87
HKD14.82
HKD18.80

15,303,689
(47,038)
(4,430,237)

HKD17.88
HKD22.06
HKD19.48

Outstanding at June 30

8,540,012

HKD16.76

10,826,414

HKD17.20

The weighted average closing price of the Company’s shares immediately before the dates while the stock options were
exercised was HKD75.83 (six months ended June 30, 2025: HKD41.82).
The range of exercise prices for options outstanding for the six months ended June 30, 2026 was from HKD7.90 to
HKD24.50 (six months ended June 30, 2025: from HKD6.42 to HKD24.50).
No stock options were granted for the six months ended June 30, 2026.

66

SMIC

2026 Interim Report

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
For the six months ended June 30, 2026

22. SHARE-BASED PAYMENTS (continued)
MOVEMENTS DURING THIS PERIOD (continued)

2014 Equity Incentive Plan

The following table illustrates the number and purchase price of, and movements in, 2014 RSUs during this period:
Six months ended 06/30/26
Number
Purchase price
Unvested at January 1
Lapsed during the period
Vested during the period
Unvested at June 30

Six months ended 06/30/25
Number
Purchase price

1,423,867
(23,140)
(1,218,830)

HKD0.031
HKD0.031
HKD0.031

4,801,041
(78,516)
(2,979,961)

HKD0.031
HKD0.031
HKD0.031

181,897

HKD0.031

1,742,564

HKD0.031

The weighted average closing price of the Company’s shares immediately before the dates on which the 2014 RSUs were
vested was HKD68.10 (six months ended June 30, 2025: HKD50.76).
No 2014 RSUs were granted for the six months ended June 30, 2026.

2024 Equity Incentive Plan
The following table illustrates the number and purchase price of, and movements in, 2024 RSUs during this period:

Unvested at January 1
Granted during the period
Lapsed during the period
Vested during the period
Unvested at June 30

Six months ended 06/30/26
Number
Purchase price

Six months ended 06/30/25
Number
Purchase price

2,932,944
18,298,455
(197,818)
(11,491,056)

HKD0.031
HKD0.031
HKD0.031
HKD0.031

4,180,026
2,876,943
(109,305)
(3,958,172)

HKD0.031
HKD0.031
HKD0.031
HKD0.031

9,542,525

HKD0.031

2,989,492

HKD0.031

The weighted average closing price of the Company’s shares immediately before the dates on which the 2024 RSUs were
vested was HKD50.70 (six months ended June 30, 2025: HKD45.65).
2024 RSUs were granted on April 1, 2026 with the fair value of HKD52.82 (April 1, 2025: HKD44.27).
The valuation of the 2024 RSUs is based on ordinary stock price on grant date.

2021 STAR Market Restricted Share Incentive Scheme
The following table illustrates the number and grant price of, and movements in, restricted shares during this period:
Six months ended 06/30/26
Number
Grant price

Six months ended 06/30/25
Number
Grant price

Unvested at January 1
Lapsed during the period

1,095,840
(48,960)

RMB20.00
RMB20.00

13,153,720
(519,060)

RMB20.00
RMB20.00

Unvested at June 30

1,046,880

RMB20.00

12,634,660

RMB20.00

The weighted average closing price of the Company’s shares immediately before the dates on which the restricted shares
were vested was RMB57.72 (six months ended June 30, 2025: RMB45.92).
No restricted shares were granted for the six months ended June 30, 2026.

SMIC

2026 Interim Report

67

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
For the six months ended June 30, 2026

23. FAIR VALUE AND FAIR VALUE HIERARCHY OF FINANCIAL INSTRUMENTS
FAIR VALUE OF FINANCIAL INSTRUMENTS CARRIED AT AMORTISED COST
The Group considers that the carrying amounts of financial assets and financial liabilities recognised in the condensed
consolidated financial statement approximate their fair values.

VALUATION TECHNIQUES AND ASSUMPTIONS APPLIED FOR THE PURPOSES OF MEASURING
FAIR VALUE
The fair values of financial instruments are based on quoted market prices in active markets and valuation techniques that
use observable market-based inputs or unobservable inputs that are corroborated by market data. Pricing information that
the Group obtains from third parties is internally validated for reasonableness prior to use in the consolidated financial
statements. When observable market prices are not readily available, the Group generally estimates the fair value using
valuation techniques that rely on alternate market data or inputs that are generally less readily observable from objective
sources and are estimated based on pertinent information available at the time of the applicable reporting periods. In
certain cases, fair values are not subject to precise quantification or verification and may fluctuate as economic and
market factors vary and the Group’s evaluation of those factors changes.

FAIR VALUE MEASUREMENTS RECOGNISED IN THE CONDENSED CONSOLIDATED STATEMENT
OF FINANCIAL POSITION
The following tables provide an analysis of financial instruments that are measured at fair value on a recurring basis
subsequent to initial recognition, grouped into Levels 1 to 3 based on the degree to which the fair value is observable.
There is no transfer within different levels of the fair value hierarchy in the six months ended June 30, 2026 and the
year ended December 31, 2025:
•

Level 1 fair value measurements are those derived from quoted prices (unadjusted) in active market for identical
assets or liabilities;

•

Level 2 fair value measurements are those derived from inputs other than quoted prices included within Level 1
that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices);
and

•

Level 3 fair value measurements are those derived from valuation techniques that include inputs for the asset or
liability that are not based on observable market data (unobservable inputs).

June 30, 2026
Financial assets
Equity instruments
– listed companies
Equity instruments
– unlisted companies
Structural deposits
Monetary funds
Cross currency swap contracts
– cash flow hedges
Forward exchange contracts
– cash flow hedges

Financial liabilities
Cross currency swap contracts
– cash flow hedges
Forward exchange contracts
– cash flow hedges

68

SMIC

2026 Interim Report

Valuation techniques

Level 1
USD’000

Level 2
USD’000

Level 3
USD’000

Total
USD’000

Quoted market prices

28

–

–

28

Valuation multiples or the latest price
method of financing
Monte Carlo simulation
Observable prices
The present value of the estimated future cash
flows based on observable yield curves
The present value of the estimated future cash
flows based on observable yield curves

–

–

1,359,236

1,359,236

–
59,493
–

–
–
20,582

25,713
–
–

25,713
59,493
20,582

–

2,334

–

2,334

59,521

22,916

1,384,949

1,467,386

–

10,978

–

10,978

–

97

–

97

–

11,075

–

11,075

The present value of the estimated future cash
flows based on observable yield curves
The present value of the estimated future cash
flows based on observable yield curves

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
For the six months ended June 30, 2026

23. FAIR VALUE AND FAIR VALUE HIERARCHY OF FINANCIAL INSTRUMENTS (continued)
FAIR VALUE MEASUREMENTS RECOGNISED IN THE CONDENSED CONSOLIDATED STATEMENT
OF FINANCIAL POSITION (continued)
December 31, 2025
Financial assets
Equity instruments
– listed companies
Equity instruments
– unlisted companies
Structural deposits
Monetary funds
Cross currency swap contracts
– cash flow hedges
Forward exchange contracts
– cash flow hedges

Financial liabilities
Cross currency swap contracts
– cash flow hedges

Valuation techniques

Level 1
USD’000

Level 2
USD’000

Level 3
USD’000

Total
USD’000

Quoted market prices

29

–

–

29

Valuation multiples or the latest price
method of financing
Monte Carlo simulation
Observable prices
The present value of the estimated future cash
flows based on observable yield curves
The present value of the estimated future cash
flows based on observable yield curves

–

–

810,472

810,472

–
57,051
–

–
–
84,151

323,806
–
–

323,806
57,051
84,151

–

3,000

–

3,000

57,080

87,151

1,134,278

1,278,509

–

18,994

–

18,994

The present value of the estimated future cash
flows based on observable yield curves

FAIR VALUE MEASUREMENTS USING SIGNIFICANT UNOBSERVABLE INPUTS (LEVEL 3)
The following table presents the changes in level 3 instruments for the six months ended:
Equity
instruments
– unlisted
companies
USD’000

Structural
deposits
USD’000

Total
USD’000

As at January 1, 2025
Additions
Disposals
(Loss)/gain recognised
Exchange realignment

132,067
1,391
(3,931)
(4,796)
466

476,180
203,361
(370,608)
2,921
(308)

608,247
204,752
(374,539)
(1,875)
158

As at June 30, 2025

125,197

311,546

436,743

As at January 1, 2026
Additions
Disposals
Gain recognised
Exchange realignment

810,472
514,671
(8,280)
38,327
4,046

323,806
67,716
(367,790)
1,264
717

1,134,278
582,387
(376,070)
39,591
4,763

As at June 30, 2026

1,359,236

25,713

1,384,949

SMIC

2026 Interim Report

69

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
For the six months ended June 30, 2026

24. ACQUISITION OF NON-CONTROLLING INTERESTS
On June 12, 2026, the Group acquired 49% shares of SMNC from the non-controlling shareholders, increasing its
ownership interest to 100%. The ordinary shares with a consideration of US$5,961.2 million were issued to the noncontrolling shareholders. The carrying value of the non-controlling interest of SMNC at that date was US$2,986.9 million.
The following is a schedule of the non-controlling interest acquired in SMNC:
USD’000
Consideration of the ordinary shares issued to non-controlling shareholders
Carrying amount of non-controlling interests acquired

(5,961,167)
2,986,876

Excess of consideration offset the reserve in equity

(2,974,291)

25. RELATED PARTY TRANSACTIONS
The names of the related parties which had transactions with the Group for the six months ended June 30, 2026 and
the relationships with the Group are disclosed below:
Related party name
Datang Holdings and its related parties (“Datang“)
Toppan Sensing Electronics (Shanghai) Co., Ltd. (“Toppan”)
Brite Semiconductor (Shanghai) Co., Ltd. (“Brite”)
and its subsidiaries
China Fortune-Tech Capital Co., Ltd. (“China Fortune-Tech”)
Semi-Tech Leasing Group Co., Ltd.
(former Sino IC Leasing Co., Ltd.)
(“Semi-Tech Leasing”) and its subsidiaries
Ningbo Semiconductor International Corporation (“NSI”)
Semiconductor Global Solutions Co., Ltd.
(former Semiconductor Global Solutions Corporation) (“SGS”)
and its subsidiaries
Semiconductor Technology Innovation Center (Beijing) Co., Ltd.
(“Beijing Innovation Center”)
Shanghai Furui Technology Co., Ltd. (“Furui”)
China IC Fund II
Shanghai Integrated Circuit Industry Investment Fund (Phase II)
Co., Ltd. (“Shanghai IC Fund II”)
Key Management Personnel who have transactions
with the Group

70

SMIC

2026 Interim Report

Relationship
Datang Holdings through Datang HK indirectly
holding more than 5% shares of the Company
An associate of the Group
An associate of the Group
An associate of the Group
An associate of the Group

An associate of the Group
An associate of the Group

An associate of the Group
An associate of the Group
Directly holding more than 10% of the shares of
certain subsidiaries of the Group
Directly holding more than 10% of the shares of
a subsidiary of the Group
Directors and senior management personnel

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
For the six months ended June 30, 2026

25. RELATED PARTY TRANSACTIONS (continued)
TRADING TRANSACTIONS
During this period, the Group’s transactions with related parties that are not members of the Group are as below:
Six months ended
06/30/26
USD’000

06/30/25
USD’000

Sale of goods and services
Brite and its subsidiaries
NSI
Beijing Innovation Center
Datang
Furui

Sale of goods and services
Sale of goods
Sale of goods and services
Sale of goods and services
Sale of services

36,455
17,065
16,445
11,356
362

21,100
13,167
17,634
6,517
–

Purchase of goods and services
Toppan
Beijing Innovation Center
China Fortune-Tech
SGS and its subsidiaries

Purchase of goods
Purchase of services
Purchase of services
Purchase of goods and services

1,889
1,451
279
178

3,269
9,717
–
681

Transfer of assets
Semi-Tech Leasing and its subsidiaries
SGS and its subsidiaries

Purchase of equipment
Purchase of equipment

131,880
433

129,923
20,417

Group as a lessor
Toppan
China Fortune-Tech
SGS and its subsidiaries
Beijing Innovation Center

Rent income
Rent income
Rent income
Rent income

2,821
319
224
–

2,759
446
165
14

Group as a lessee
Semi-Tech Leasing and its subsidiaries

Payment of lease liabilities

6,616

10,116

The following balances were outstanding at the end of the Reporting Period:
Amounts due from
related parties

Brite and its subsidiaries
SGS and its subsidiaries
Toppan
Beijing Innovation Center
China Fortune-Tech
Semi-Tech Leasing and its subsidiaries
Datang
NSI

Amounts due to
related parties

06/30/26
USD’000

12/31/25
USD’000

06/30/26
USD’000

12/31/25
USD’000

5,725
2,109
1,635
14,654
151
–
2,009
164

5,916
2,712
1,080
10,481
–
–
444
5,745

593
5,565
341
1,675
52
–
12,595
10,976

83
5,546
183
8,207
71
6,581
5,865
10,005

The balances are unsecured and interest-free and repayable on demand.
The pricing of trading transactions with related parties that are not members of the Group refers to the pricing standards
of third parties for comparable product or services at the same time and in the same region.

SMIC

2026 Interim Report

71

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
For the six months ended June 30, 2026

25. RELATED PARTY TRANSACTIONS (continued)
CAPITAL CONTRIBUTION
During this period, China IC Fund II and Shanghai IC Fund II injected capital into certain subsidiaries of the Group,
amounting to US$558.2 million and US$250.5 million respectively.

EMOLUMENTS OF KEY MANAGEMENT PERSONNEL
Directors and senior management personnel are those persons having authority and responsibility for planning, directing
and controlling the activities of the Group, directly or indirectly.
The emoluments of directors and senior management personnel during the Reporting and the Corresponding Period
are as follows:
Six months ended
06/30/26
USD’000

06/30/25
USD’000

1,320
16
1,579

1,283
20
1,377

2,915

2,680

Salaries, bonus and benefits
State-managed pension
Equity-settled share-based payments expense

The emoluments of directors and senior management personnel are determined by the Compensation Committee in
regard to the Group’s profitability, business achievement, individual performance and market trends.

26. COMMITMENTS
The Group had the following contractual commitments at the end of the Reporting Period:

Commitments for building and facility construction
Commitments for acquisition of machinery and equipment
Commitments for acquisition of intangible assets
Commitments for capital contributions

06/30/26
USD’000

12/31/25
USD’000

419,599
5,560,616
9,222
26,447

353,747
10,701,400
23,494
22,787

6,015,884

11,101,428

27. SUBSEQUENT EVENTS
There is no material subsequent event undertaken by the Group after June 30, 2026.

72

SMIC

2026 Interim Report

(Incorporated in the Cayman Islands with limited liability)
Stock Code: 00981

No.18 Zhangjiang Road, Pudong New Area, Shanghai 201203,
The People’s Republic of China
Tel : + 86 (21) 3861 0000
Website : www.smics.com

2026

Shanghai • Beijing • Tianjin • Shenzhen • Taiwan, China •
Japan • Americas • Europe

INTERIM REPORT

2026

* For identification purposes only

（於開曼群島註冊成立的有限公司）
股 份 代 號 : 00981

電 話 : + 86 (21) 3861 0000
網 站 : www.smics.com
上海 . 北京 . 天津 . 深圳 . 中國台灣 .
日本 . 美洲 . 歐洲

2026 中期報告

中華人民共和國上海市浦東新區張江路18號
郵政編碼：201203

中期報告

2026
* 僅供識別

目錄
2

第一節

釋義

3

第二節

公司簡介和主要財務指標

6

第三節

管理層討論與分析

21

第四節

公司治理 、環境和社會

26

第五節

重要事項

45

第六節

股份變動及股東情況

51

第七節

財務報告

前瞻性陳述的風險聲明
本報告可能載有（除歷史數據外）前瞻性陳述 。該等前瞻性陳述乃根據中芯國際對未來事件或績效的現行假設 、
期望 、信念 、計劃 、目標及預測而作出 。中芯國際使用包括（但不限於）
「相信」、「預期」、「打算」、「估計」、「預
計」、「預測」、「指標」、「展望」、「繼續」、「應該」、「或許」、「尋求」、「應當」、「計劃」、「可能」、「願景」、「目
標」、「旨在」、「渴望」、「目的」、「預定」、「前景」和其他類似的表述 ，以識別前瞻性陳述 。該等前瞻性陳述乃反映
中芯國際高級管理層根據最佳判斷作出的估計 ，存在重大已知及未知的風險 、不確定性以及其他可能導致中芯國
際實際業績 、財務狀況或經營結果與前瞻性陳述所載數據有重大差異的因素 ，包括（但不限於）與半導體行業週期
及市場情況有關風險 、半導體行業的激烈競爭 、中芯國際客戶能否及時接收晶圓產品 、能否及時引進新技術 、中
芯國際量產新產品的能力 、半導體代工服務供求情況 、設備 、零備件 、原材料 、軟件及服務支持短缺 、來自未決
訴訟的命令或判決 、半導體行業常見的知識產權訴訟 、宏觀經濟狀況 、貨幣匯率波動及地緣政治風險 。

中芯國際

二零二六年 中報

01

第一節

釋義

在本報告書中 ，除非文義另有所指 ，下列詞語具有如下含義：
常用詞語釋義
本公司 、公司或中芯國際

指

中芯國際集成電路製造有限公司

本集團或我們

指

本公司及其子公司

中芯上海

指

中芯國際集成電路製造（上海）有限公司

中芯北京

指

中芯國際集成電路製造（北京）有限公司

中芯天津

指

中芯國際集成電路製造（天津）有限公司

中芯深圳

指

中芯國際集成電路製造（深圳）有限公司

中芯北方

指

中芯北方集成電路製造（北京）有限公司

中芯南方

指

中芯南方集成電路製造有限公司

中芯京城

指

中芯京城集成電路製造（北京）有限公司

中芯東方

指

中芯東方集成電路製造有限公司

中芯西青

指

中芯西青集成電路製造有限公司

中國信科

指

中國信息通信科技集團有限公司

大唐控股

指

大唐電信科技產業控股有限公司

大唐香港

指

大唐控股（香港）投資有限公司

國家集成電路基金

指

國家集成電路產業投資基金股份有限公司

國家集成電路基金二期

指

國家集成電路產業投資基金二期股份有限公司

鑫芯香港

指

鑫芯（香港）投資有限公司

董事會

指

本公司董事會

董事

指

本公司董事

中國證監會

指

中國證券監督管理委員會

香港聯交所

指

香港聯合交易所有限公司

上交所

指

上海證券交易所

上交所科創板

指

上海證券交易所科創板

《香港上市規則》

指

《香港聯合交易所有限公司證券上市規則》
（ 經不時修訂）

《科創板上市規則》

指

《上海證券交易所科創板股票上市規則》
（ 經不時修訂）

國際財務報告準則

指

國際會計準則理事會頒佈的國際財務報告準則

企業會計準則

指

中國財政部頒佈的中國企業會計準則

普通股

指

本公司股本中每股面值0.004美元的普通股

A股

指

本公司在上交所科創板發行的普通股

港股

指

本公司在香港聯交所發行的普通股

報告期或本期

指

2026年1月1日至2026年6月30日

上年同期或上期

指

2025年1月1日至2025年6月30日

除另有指明外 ，本報告所述的硅晶圓數量均以折合8吋標準邏輯為單位 。折合8吋標準邏輯數量等於12吋標準邏輯數量乘2.25。
本報告中的財務資料按照國際財務報告準則的規定編製 。

02

中芯國際

二零二六年 中報

第二節 公司簡介和主要財務指標
一、公司基本情況
公司的中文名稱

中芯國際集成電路製造有限公司

公司的中文簡稱

中芯國際

公司的外文名稱

Semiconductor Manufacturing International Corporation

公司的外文名稱縮寫

SMIC

公司的法定代表人（註）

劉訓峰

《香港上市規則》之授權代表

劉訓峰 、郭光莉

董事會秘書╱公司秘書

郭光莉

公司註冊地址

Cricket Square, Hutchins Drive, P.O.Box 2681, Grand Cayman,
KY1-1111 Cayman Islands

公司辦公地址

中國上海市浦東新區張江路18號

香港主要營業地點

香港中環康樂廣場8號交易廣場一期29樓

公司辦公地址的郵政編碼

201203

公司網址

https://www.smics.com/

電子信箱

ir@smics.com

港股股份過戶登記處

香港中央證券登記有限公司 ，香港灣仔皇后大道東183號合和中心17M樓

A股股票的託管機構

中國證券登記結算有限責任公司上海分公司（「中國結算」）

附註：公司註冊地在開曼群島 ，無法定代表人 ，公司董事長為劉訓峰 。

二、聯繫人和聯繫方式
姓名
聯繫地址
電話
電子信箱

董事會秘書（信息披露境內代表）

證券事務代表

郭光莉
中國上海市浦東新區張江路18號
021-20812800
ir@smics.com

溫捷涵
中國上海市浦東新區張江路18號
021-20812800
ir@smics.com

三、信息披露及備置地點
公司選定的信息披露媒體名稱及網址

《上海證券報》
（ https://www.cnstock.com）
《中國證券報》
（ https://www.cs.com.cn）
《證券時報》
（ https://www.stcn.com）及
《證券日報》
（ http://www.zqrb.cn）

公司披露半年度報告的上海證券交易所網址

https://www.sse.com.cn

公司披露半年度報告的香港聯交所網址

https://www.hkexnews.hk

公司半年度報告備置地點

董事會事務辦公室 ，中國上海市浦東新區張江路18號

四、公司股票
股票種類

股票上市交易所及板塊

股票簡稱

股票代碼

A股
港股

上交所科創板
香港聯交所主板

中芯國際
中芯國際

688981
00981

中芯國際

二零二六年 中報

03

第二節

公司簡介和主要財務指標

五、公司主要會計數據和財務指標
（一）主要會計數據
千美元
截至以下日期止六個月

收入
除稅前利潤
歸屬於本公司擁有人的期內利潤
歸屬於本公司擁有人的扣除非經常性損益的期內利潤
經營活動所得現金淨額
息稅折舊及攤銷前利潤（「EBITDA」）

06/30/26

06/30/25

06/30/26較
06/30/25(%)

5,511,075
1,065,417
676,645
433,383
3,207,101
3,544,550

4,456,267
509,678
320,522
265,490
909,257
2,421,213

23.7
109.0
111.1
63.2
252.7
46.4

於以下日期

歸屬於本公司擁有人的權益
總資產

06/30/26

12/31/25

06/30/26較
12/31/25(%)

25,149,484
57,199,950

21,439,670
52,271,308

17.3
9.4

（二）主要財務指標
截至以下日期止六個月

毛利率
淨利率
EBITDA利潤率
基本每股收益
攤薄每股收益
扣除非經常性損益後的基本每股收益
加權平均權益報酬率 (1)
扣除非經常性損益後的加權平均權益報酬率 (2)
研發投入佔收入的比例

06/30/26

06/30/25

06/30/26較
06/30/25(%)

22.9%
17.5%
64.3%
0.08美元
0.08美元
0.05美元
3.1%
2.0%
7.2%

21.4%
10.5%
54.3%
0.04美元
0.04美元
0.03美元
1.5%
1.3%
7.4%

增加1.5個百分點
增加7.0個百分點
增加10.0個百分點
100.0
100.0
66.7
增加1.6個百分點
增加0.7個百分點
減少0.2個百分點

附註：
(1)
(2)

加權平均權益報酬率=歸屬於本公司擁有人的期內利潤╱歸屬於本公司擁有人的加權平均權益
扣除非經常性損益後的加權平均權益報酬率=歸屬於本公司擁有人的扣除非經常性損益的期內利潤╱歸屬於本公司擁有人的加權平均
權益

除稅前利潤 、歸屬於本公司擁有人的期內利潤 、歸屬於本公司擁有人的扣除非經常性損益的期內利潤及EBITDA的增加 ，主
要是由於本期晶圓銷量增加 、平均售價上升及產品組合變動所致 。
經營活動所得現金淨額增加 ，主要是由於本期銷售商品收到的現金增加所致 。
基本每股收益 、攤薄每股收益和扣除非經常性損益後的基本每股收益的增加 ，主要是由於歸屬於本公司擁有人的期內利潤
增加所致 。

04

中芯國際

二零二六年 中報

第二節

公司簡介和主要財務指標

六、境內外會計準則下會計數據差異
（一）同時按照國際財務報告準則與按中國企業會計準則披露的財務報告中歸屬於本公司擁有人的期內
利潤和歸屬於本公司擁有人的權益差異情況
千美元
歸屬於本公司擁有人的期內利潤
截至以下日期止六個月
06/30/26
06/30/25

歸屬於本公司擁有人的權益
於以下日期
06/30/26
12/31/25

按中國企業會計準則
按國際財務報告準則調整的項目及金額：
聯營企業股權被動稀釋（註）

649,453

319,419

25,149,484

21,439,670

27,192

1,103

–

–

按國際財務報告準則

676,645

320,522

25,149,484

21,439,670

附註：在企業會計準則下 ，聯營及合營企業被動稀釋產生的影響 ，應調整長期股權投資的賬面價值 ，同時確認資本公積 。在國際財務報告
準則下 ，將聯營及合營企業被動稀釋產生的影響調整長期股權投資的賬面價值並計入當期損益 。

七、非經常性損益項目和金額
千美元
截至以下日期止六個月
06/30/26
出售不動產 、廠房及設備及分類為持有待售資產的收益
政府資金
變動計入損益的公允價值計量項目收益淨額
其他非經常性損益項目

3,593
20,255
40,826
248,412

所得稅影響額
少數股東權益影響額（稅後）

313,086
(64,140)
(5,684)

合計

243,262

千美元
截至以下日期止六個月
06/30/26

其他非經常性損益項目
應佔聯營企業與合營企業之變動計入損益的公允價值計量項目收益淨額
聯營企業股權被動稀釋
其他

218,993
27,192
2,227

八、EBITDA
千美元
截至以下日期止六個月
06/30/26
06/30/25
期內利潤
財務費用
折舊及攤銷
所得稅開支

964,131
179,273
2,299,860
101,286

470,103
167,155
1,744,380
39,575

EBITDA (2)(3)
EBITDA利潤率 (1)(2)(3)

3,544,550
64.3%

2,421,213
54.3%

附註：
(1)

EBITDA利潤率=EBITDA ╱收入

(2)

EBITDA及EBITDA利潤率是非國際財務報告準則計量項目 ，未必能夠與其他公司所呈報類似計量項目作比較 。

(3)

EBITDA及EBITDA利潤率排除了不同資本結構 、折舊政策和稅負的影響 ，為報告閱讀者提供了公司核心盈利能力及現金流狀況的信
息。

EBITDA和EBITDA利潤率增加主要是由於本期晶圓銷量增加 、平均售價上升及產品組合變動所致 。

中芯國際

二零二六年 中報

05

第三節

管理層討論與分析

一、報告期內公司所屬行業及主營業務情況說明
（一）主要業務 、主要產品或服務情況
中芯國際是世界領先的集成電路晶圓代工企業之一 ，也是中國大陸集成電路製造業領導者 ，擁有領先的工藝製造能力 、產
能優勢 、服務配套 ，向全球客戶提供8吋和12吋晶圓代工與技術服務 。
除集成電路晶圓代工外 ，集團亦致力於打造平台式的生態服務模式 ，為客戶提供設計服務與IP支持 、光掩模製造等一站式
配套服務 ，並促進集成電路產業鏈的上下游協同 ，與產業鏈中各環節的合作夥伴一同為客戶提供全方位的集成電路解決方
案。

（二）主要經營模式

1.

盈利模式

公司主要從事基於多種技術節點和技術平台的集成電路晶圓代工業務 ，並提供設計服務與IP支持 、光掩模製造等配套服務 。

2.

研發模式

公司具備完整 、高效的創新機制 ，完善的研發流程管理制度和專業的研發團隊 ，推進應用平台的研發 ，進一步夯實技術基
礎 ，構建技術壁壘 。公司的研發流程主要包括七個階段 ，即項目選擇 、可行性評估 、項目立項 、技術開發 、技術驗證 、
產品驗證和產品投產 ，每個階段均有嚴格的審批流程 ，從而確保研發項目的成功轉化 。

3.

採購模式

公司主要向供應商採購集成電路晶圓代工及配套服務所需的物料 、零備件 、設備 、軟件及技術服務等 。為提高生產效率 、
加強成本控制 ，公司建立了採購管理體系 。公司擁有成熟的供應商管理體系與較為完善的供應鏈安全體系 ，建立了供應商
准入機制 、供應商考核與評價機制及供應商能力發展與提升機制 ，在與主要供應商保持長期合作關係的同時 ，兼顧新供應
商的導入與培養 ，加強供應鏈的穩定與安全 。

4.

生產模式

公司按市場需求規劃產能 ，並按計劃進行投產 ，具體如下：
(1)

小批量試產：客戶按照公司提供的設計規則進行產品設計 。設計完成後 ，公司根據客戶的產品要求進行小批量試產 。

(2)

風險量產：小批量試產後的樣品經封裝測試 、功能驗證等環節 ，如符合市場要求 ，則進入風險量產階段 。風險量產
階段主要包括產品良率提升 、生產工藝能力提升 、生產產能拓展等 。

(3)

批量生產：風險量產階段完成且上述各項交付指標達標後 ，進入批量生產階段 。在批量生產階段 ，銷售部門與客戶
確認採購訂單量 ，生產計劃部門根據客戶訂單需求安排生產 、跟蹤生產進度並向客戶提供生產進度報告 。

5.

營銷及銷售模式

公司採用多種營銷方式 ，積極通過各種渠道拓展客戶 。在與客戶建立合作關係後 ，公司與客戶直接溝通並制定符合其需求
的解決方案 。
公司通過市場研究 ，主動聯繫並拜訪目標客戶 ，推介與客戶匹配的工藝和服務 ，進而展開一系列的客戶拓展活動 。公司通
過與設計服務公司 、IP供應商 、EDA廠商 、封裝測試廠商 、行業協會及各集成電路產業促進中心合作 ，與客戶建立合作關
係 。公司通過主辦技術研討會等活動或參與半導體行業各種專業會展 、峰會 、論壇進行推廣活動並獲取客戶 。部分客戶通
過公司網站 、口碑傳播等公開渠道聯繫公司尋求直接合作 。公司銷售團隊與客戶簽訂訂單 ，並根據訂單要求提供集成電路
晶圓代工以及相關配套服務 ，製造完成的產品最終將被發貨至客戶或其指定的下游封裝 、測試廠商 。
公司結合市場供需情況 、上下游發展狀況 、公司主營業務 、主要產品 、核心技術 、自身發展階段等因素 ，形成了目前的
晶圓代工模式 。報告期內 ，上述經營模式的關鍵因素未發生重大變化 。

06

中芯國際

二零二六年 中報

第三節

管理層討論與分析

（三）所處行業情況

1.

行業的發展階段 、基本特點 、主要技術門檻

2026年上半年 ，全球AI基建與數據中心建設持續提速 ，大模型算力需求集中釋放 ，算力芯片 、高端存儲芯片同步迎來量價
齊升的上行週期 ，帶動全球半導體產業產值大幅增長 ，產業鏈上下游協同配套能力持續優化 。但受區域戰爭 、地緣政治等
多因素影響 ，部分半導體相關原材料價格攀升 ，存儲芯片產能持續向AI領域傾斜 ，消費類存儲芯片供應受到擠壓 。受其影
響 ，消費電子 、智能手機 、個人電腦等產品成本上漲 ，終端出貨持續走弱 。汽車電子及工控領域受智能駕駛及工業自動化
需求增加持續回暖 ，在地化生產需求大幅提升 ，本土晶圓廠產品通過車規認證並實現逐步替代 。
從產業格局來看 ，晶圓代工環節持續凸顯戰略價值 。算力芯片領域 ，邏輯運算類芯片需求爆發式增長 ，推動設計工具 、
工藝制程與異構封裝技術持續迭代 ，構築起涵蓋IP核 、EDA工具鏈 、工藝制程的全方位技術壁壘；消費電子領域終端出貨
下滑 ，低端SoC 、圖像傳感器 、顯示驅動芯片競爭加劇 ，依靠性價比競爭存量市場份額；汽車電子與工控領域壁壘持續加
固 ，芯片競爭格局高度集中 ，中國半導體公司在模擬芯片 、圖像傳感器及功率器件已實現批量導入 ，但域控SoC 、MCU芯
片仍由海外半導體公司主導 。
從地域發展情況來看 ，全球供應鏈體系正經歷多維度的適應性變革和區域化重構 ，中國本土產業鏈佈局成為戰略重點 。中
國大陸集成電路產業在高端設備 、關鍵原材料及零部件 、IC設計能力 、工藝開發 、封裝等關鍵環節仍具備較大成長空間 ，
產業鏈在地化轉移繼續走強 ，更多的晶圓代工需求回流中國大陸 。
晶圓代工行業作為半導體產業鏈的核心環節 ，技術壁壘 、人才儲備 、持續資本投入 ，形成了較高的准入門檻 。該領域的
競爭焦點集中在納米尺度工藝精度控制 、新型半導體材料開發應用以及超大規模製造系統的協同優化能力 。全球領先企業
維持較高的研發投入強度 ，持續鞏固技術優勢 ，著力構築產業壁壘 ，而本土企業正通過產業鏈協同突破 ，快速填補市場空
白。

2.

公司所處的行業地位分析及其變化情況

中芯國際是世界領先的集成電路晶圓代工企業之一 ，也是中國大陸集成電路製造業領導者 ，擁有領先的工藝製造能力 、產
能優勢 、服務配套 。根據全球各純晶圓代工企業最新公佈的2025年銷售額情況 ，中芯國際位居全球第二 ，在中國大陸企
業中排名第一 。

3.

報告期內新技術 、新產業 、新業態 、新模式的發展情況和未來發展趨勢

近年來 ，晶圓代工企業多以技術領先性 、平台多樣性 、性能差異化作為吸引客戶的核心優勢 。隨著市場需求更趨多元化 ，
企業在縱向追求更小的晶體管結構的同時 ，也更注重利用量產工藝節點的性能基礎開展橫向的衍生平台建設 ，以滿足龐大
的終端市場的差異化需求 。
與此同時 ，各類新型封裝 ，設計服務以及光掩模等技術持續突破 ，為晶圓代工技術迭代賦能 。在新型封裝技術領域 ，各類
形式的系統性解決方案有效地突破了晶體管線寬極限並進一步提高了多芯片集成的融合度；在設計服務領域 ，DTCO（Design
Technology Co-Optimization ，設計工藝協同優化）對具體設計和工藝匹配做評估和調整 ，有效地降低了半導體工藝開發的
成本和使用風險；光掩模作為集成電路製造產業鏈上的核心關鍵工具 ，其掩模工藝和介質材料不斷進化 ，進一步提升設計
圖形光刻的工藝表現 。
伴隨全球行業格局的變化 ，晶圓代工企業在專注自身工藝技術與平台建設的同時 ，也愈加重視產業生態佈局 ，其產能規模
效應和在地化的產業鏈協同能力已成為客戶衡量供應鏈穩定性和完整性的重要因素之一 。
從未來發展趨勢看 ，晶圓代工企業通過持續拓展產能規模 、新工藝研發 ，加強產業鏈協同等方式不斷強化資本 、技術和行
業生態壁壘 ，少數企業佔據市場主導地位的業態將長期存在 ，行業頭部效應將愈加明顯 。

中芯國際

二零二六年 中報

07

第三節

管理層討論與分析

二、經營情況討論與分析
報告期內 ，人工智能配套芯片需求旺盛 ，海外訂單回流 ，在地化製造繼續加強 ，公司在手訂單充足 。在供不應求的產品類
別 ，公司與客戶協商上調定價 ，漲價效應逐步顯現；加之部分客戶顧慮後續外部環境不確定性可能帶來供應不足或繼續推
高供應鏈價格 ，提拉部分產品備貨 。
全球宏觀環境面臨的諸多不確定性 ，對供應鏈成本 、穩定性 、市場預期等帶來持續挑戰 。延續這些年的經驗積累 ，我們持
續強化供應鏈韌性管理 ，多渠道採購 ，盡最大努力降低影響 。同時 ，公司緊密跟蹤客戶需求 ，靈活調配資源 ，加快產品
響應速度 ，確保在複雜環境中依然能保持高質量的交付 。
報告期內 ，本集團實現收入5,511.1百萬美元 ，同比增加23.7% 。其中 ，晶圓代工業務收入為5,196.8百萬美元 ，同比增加
22.9% 。

三、報告期內核心競爭力分析
（一）核心競爭力分析
報告期內 ，公司在核心競爭力方面繼續強化：

1.

研發平台優勢

公司的研發中心根據總體戰略 ，以客戶需求為導向 ，持續提升工藝研發和創新能力 、強化平台建設 、升級產品性能 。研發
項目在初期即充分對標產品的技術要求 ，有效利用研發資源 、確保產出質量與可靠性 、積極縮短研發到量產的週期 、滿足
市場對產品創新與快速迭代的需求 ，力爭為公司提供新的業務增長點 。

2.

研發團隊優勢

公司通過多年集成電路研發實踐 ，組建了高素質的核心管理團隊和專業化的骨幹研發隊伍 。研發隊伍的骨幹成員由資深專
家組成 ，擁有在行業內多年的研發和管理經驗 。

3.

豐富產品平台和知名品牌優勢

公司多年來長期專注於集成電路工藝技術的開發 ，向全球客戶提供8吋和12吋晶圓代工與技術服務 ，應用於不同工藝技術
平台 ，具備邏輯電路 、電源╱模擬 、高壓顯示驅動 、嵌入式非易失性存儲 、獨立式非易失性存儲 、混合信號╱射頻 、圖
像傳感器等多個技術平台的量產能力 ，可為客戶提供智能手機 、電腦與平板 、消費電子 、互聯與可穿戴 、工業與汽車等不
同領域集成電路晶圓代工及配套服務 。通過長期與境內外知名客戶的合作 ，形成了明顯的品牌效應 ，獲得了良好的行業認
知度 。

4.

完善的知識產權體系

公司在集成電路領域內積累了眾多核心技術 ，形成了完善的知識產權體系 。截至2026年6月30日 ，公司累計獲得授權專利
共14,784件 ，其中發明專利12,891件 。此外 ，公司累計登記集成電路布圖設計94件 。

5.

國際化及產業鏈佈局

公司基於國際化運營的理念 ，為全球客戶服務 。公司組建了國際化的管理團隊與人才隊伍 ，建立了輻射全球的服務基地與
運營網絡 ，在美國 、歐洲 、日本和中國台灣設立了市場推廣辦公室 ，以便更好地拓展市場 ，快速響應來自客戶的需求 。
公司高度重視與集成電路產業鏈的上下游企業的合作 ，積極提升產業鏈整合與佈局的能力 ，構建緊密的集成電路產業生
態 ，為客戶提供全方位 、一體化的集成電路解決方案 。

6.

完善的質量 、職業健康 、安全和環保體系

公司不斷擴展質量管控的廣度和深度 ，建立了全面完善的質量控制系統 。目前 ，公司已經獲得了信息安全管理體系認證
ISO 27001 ，質量管理體系認證ISO 9001 ，環境管理體系認證ISO 14001 ，職業健康安全管理體系認證ISO 45001 ，汽車
供應鏈質量管理體系認證IATF 16949 ，通信行業質量管理體系認證TL 9000 ，有害物質過程管理體系QC 080000 ，溫室氣
體排放盤查認證ISO 14064 ，能源管理體系認證ISO 50001 ，道路車輛功能安全認證ISO 26262等諸多認證 。

08

中芯國際

二零二六年 中報

第三節

管理層討論與分析

（二）核心技術與研發進展

1.

核心技術及其先進性以及報告期內的變化情況

中芯國際擁有全方位一體化的集成電路晶圓代工核心技術體系 ，快速有效地幫助客戶實現新產品的導入驗證到穩定量產 。
中芯國際成功開發了8吋和12吋的多種技術平台 ，為客戶提供「一站式」晶圓代工和技術服務 。
2026年上半年 ，多個平台項目開發按計劃進行 ，詳情請參閱下述在研項目情況 。

2.

報告期內獲得的研發成果

報告期內獲得的知識產權列表：
本期新增
申請數

獲得數

累計數量
申請數

獲得數

發明專利
實用新型專利
布圖設計

160
–
–

270
3
–

18,666
1,897
94

12,891
1,893
94

合計

160

273

20,657

14,878

3.

研發投入情況表
千美元
截至以下日期止六個月
06/30/26

06/30/25

06/30/26較
06/30/25(%)

395,619
395,619
7.2

330,811
330,811
7.4

19.6
19.6
減少0.2個百分點

費用化研發投入
研發投入合計
研發投入總額佔收入比例(%)

4.

在研項目情況

序號

項目名稱

進展或階段性成果

擬達到目標

技術水平

具體應用前景

1

28納米超低漏電
平台研發項目

技術平台已經發佈多款基
礎IP和各種接口類IP ，
導入多家客戶在多種應
用市場的不同產品 ，整
體進入到一定規模的量
產階段 。

進一步完善平台IP佈局和
拓寬應用市場 。工藝迭
代優化提升平台速度 ，
降低漏電水平 ，兼顧低
漏電和低功耗兩大類產
品需求 ，並實現批量生
產。

中國大陸領先

主要應用於各類物聯
網 、移動通訊等行
業 ，以滿足智能手
機 、數字電視 、機頂
盒 、圖像處理等產品
需求 。

2

28納米嵌入式閃
存工藝平台研
發項目

完成新一輪工藝優化 ，器
件性能均能提升到業界
一流水平 ，模型和PDK
正在進行中 。

完成平台開發 ，推出模型
和PDK 、佈局IP ，實現
批量生產 ，填補在高端
MCU領域的市場空白 。

中國大陸領先

主要應用於車載域控 、
ADAS等需要快速響
應 、低功耗 、大存儲
容量的高端MCU場景 。

3

65納米射頻絕緣
體上硅工藝平
台持續研發項
目

已導入多家客戶的多顆產
品驗證成功 ，進入到量
產階段 。

新一代平台繼續提升性能
至業界一流水平 ，完
成更多客戶的新產品導
入 ，並實現批量生產 。

中國大陸領先

主要應用於智能手機 、
WIFI等射頻前端模組中
的射頻芯片 。

中芯國際

二零二六年 中報

09

第三節

10

管理層討論與分析

序號

項目名稱

進展或階段性成果

擬達到目標

技術水平

具體應用前景

4

90納米BCD工藝
平台持續研發
項目

低壓新一代平台已實現性
能指標的大幅提升 ，進
入到產品驗證階段 。中
壓平台已導入多顆不同
電壓檔位 、不同應用市
場的產品進行驗證 。

中壓平台技術完成更多客
戶新產品導入 ，並實現
批量生產 。低壓平台新
一代技術進一步提升性
能 ，持續豐富器件種
類 ，提供更有競爭力的
技術平台 。

中國大陸領先

主要應用於智能化電源管
理 、音頻放大器 、智
能電機驅動和車用芯
片。

5

8吋BCD和模擬技
術平台持續研
發項目

新一代汽車電子系統BCD
平台已進入風險量產階
段；發佈新一代模擬技
術平台PDK；SOI BCD
平台PDK製作中 。

持續開發新的BCD工藝平
台和迭代提升既有平台
性能 ，推出PDK並實現
產品導入和批量生產 。
不斷提升汽車電子技術
平台的廣度和深度 。

中國大陸領先

主要應用於模擬 、電源
管理 、工業應用 、車
用芯片等 。

6

0.18微米嵌入式
存儲工藝車用
平台研發項目

新一代汽車電子系統嵌
入式存儲技術PDK已發
佈 ，嵌入式IP可靠性驗
證進行中 。

完成平台開發和可靠性驗
證 ，推出模型和PDK 、
佈局IP ，導入產品和實
現批量生產 。

中國大陸領先

主要應用於工業應用 、
車用芯片等 。

7

中大尺寸高壓顯
示驅動工藝平
台持續研發項
目

新一代大尺寸顯示驅動平
台PDK交付完成 ，新產
品導入中 。

持續開發新的器件和技術
平台 ，推出PDK ，產品
導入和實現批量生產 。
不斷提升在中大尺寸顯
示領域的市場佔比 。

中國大陸領先

主要應用於中大尺寸屏幕
顯示驅動芯片和車載
屏幕顯示驅動芯片 。

中芯國際

二零二六年 中報

第三節
5.

管理層討論與分析
研發人員情況
基本情況

本集團研發人員的數量（人）
研發人員數量佔本集團員工總人數的比例（%）
研發人員薪酬合計（千美元）
研發人員平均薪酬（千美元）

學歷結構類別

截至以下日期止六個月
06/30/26
06/30/25
2,420
11.9
83,928
35

研發人員學歷結構

學歷結構人數

博士研究生
碩士研究生
本科及以下

年齡結構類別

2,290
12.0
73,754
32

502
1,336
582
研發人員年齡結構

年齡結構人數

30歲以下（不含30歲）
30-40歲（不含40歲）
40-50歲（不含50歲）
50歲及以上

964
1,064
358
34

四、風險因素
集成電路行業面臨多變的宏觀環境和不確定性因素 ，公司堅持以穩中求進為總基調 ，可持續發展為基礎 ，服務客戶和提升
核心競爭力為目標 ，更好統籌安全與發展 ，盡最大努力降低各類風險因素給公司帶來的影響 。

（一）核心競爭力風險

1.

研發與技術升級迭代風險

公司所處的集成電路晶圓代工行業屬於技術密集型行業 ，涉及數十種科學技術及工程領域學科知識的綜合應用 ，具有工藝
技術迭代快 、資金投入大 、研發週期長等特點 。集成電路晶圓代工的技術含量較高 ，從前期技術論證到後期持續研發實踐
需要較長週期 。如果公司未來不能緊跟行業需求 、正確把握研發方向 ，可能導致工藝技術定位偏差 。新工藝的研發過程也
較為複雜 ，耗時較長且成本較高 ，存在不確定性 。此外 ，豐富的終端應用場景決定了各細分領域芯片產品的主流技術節點
與工藝存在差異 ，相應市場需求變化較快 。
公司堅持自主研發的道路並進一步鞏固自主化核心知識產權 ，通過市場與研發協同規劃技術路線 ，使得公司的工藝和技術
平台更加匹配市場需求並保持競爭力 ，並持續投入資源引進人才 。
如果公司未來技術研發的投入不足 ，不能支撐技術升級的需要 ，可能導致公司技術被趕超或替代 ，進而對公司的持續競爭
力產生不利影響；或不能及時推出契合市場需求且具備成本效益的技術平台 ，技術迭代大幅落後於產品應用的工藝要求 ，
可能削弱公司競爭力和市場份額 ，進而對公司長期發展造成不利影響 。

2.

技術人才短缺或流失風險

集成電路晶圓代工行業亦屬於人才密集型行業 。集成電路晶圓代工涉及上千道工藝 、數十門專業學科知識的融合 ，且各環
節的工藝配合和誤差控制要求極高 ，不僅需要相關人才具備紮實的專業知識和長期的技術沉澱 ，也需要相關人才具備很強
的綜合能力和經驗積累 。
公司多年來一直高度重視人力資源的科學管理 ，制定了較為合理的人才政策及薪酬管理體系 ，針對優秀人才實施了包括股
權激勵在內的多項激勵措施 ，對穩定和吸引技術人才起到了積極作用 。
近年來 ，集成電路企業數量高速增長 ，行業優秀技術人才的供給出現了較大缺口 ，人才爭奪激烈 。如果公司有大量優秀的
技術人才離職 ，而公司無法在短期內招聘到或培養出經驗豐富的技術人才 ，可能對公司的持續競爭力產生不利影響 。

中芯國際

二零二六年 中報

11

第三節
3.

管理層討論與分析
技術洩密風險

技術是集成電路晶圓代工行業的核心競爭力 ，公司以技術創新為驅動力 。
公司十分重視對核心技術的保護工作 ，制定了包括信息安全保護制度在內的一系列嚴格完善的保密制度 ，並和相關技術人
員簽署了保密協議及競業限制協議 ，以確保核心技術的保密性 。
但由於技術秘密保護措施的局限性 、技術人員的流動性及其他不可控因素 ，公司仍存在核心技術洩密的風險 。如上述情況
發生 ，可能在一定程度上削弱公司的技術優勢並產生不利影響 。

（二）經營風險

1.

研發與生產持續巨額資金投入風險

集成電路晶圓代工行業屬於資本密集型行業 。為不斷升級現有工藝技術平台以保持市場競爭優勢 ，並保證充足的產能以滿
足訂單生產需求 ，提高核心競爭力 ，公司需要持續進行巨額的資金投入 。
公司通過優化產品組合 、提升產能利用率 、優化工藝製程等措施 ，提升整體盈利能力 ，並在融資渠道方面保持多元化策
略。
未來 ，如果公司不能獲取足夠的經營收益 ，或者融資受限 ，導致資金投入減少 ，可能對公司的競爭優勢產生不利影響 。

2.

客戶集中度過高或過低的風險

全球集成電路晶圓代工的下遊行業市場具有集中度較高的特點 ，而中國集成電路晶圓代工行業的下遊行業市場集中度相對
分散 。
雖然公司憑借自身的研發實力 、產品質量 、產能支持 、服務響應等優勢 ，與主要客戶建立了較為穩固的合作關係 ，但是仍
然可能面臨客戶集中度過高或過低風險 。
如果未來主要客戶的生產經營發生重大問題 ，或因客戶散 、弱 、小 ，需要公司投入更多銷售 、運營和生產成本 ，可能對
公司的業績穩定性 、經營效率和持續盈利能力產生不利影響 。

3.

供應鏈風險

半導體產業鏈具有全球化分工的特徵 ，對供應商有較高要求 ，部分重要原材料 、零備件 、軟件 、核心設備及服務支持等在
全球範圍內的合格供應商數量較少 。
未來 ，如果公司的重要原材料 、零備件 、軟件 、核心設備及服務支持等發生供應短缺 、延遲交貨 、價格大幅上漲 ，或者
供應商所處的國家和╱或地區與他國發生貿易摩擦 、外交衝突 、戰爭等進而影響到相應原材料 、零備件 、軟件 、設備及服
務支持等的出口許可 、供應或價格上漲 ，可能會對公司生產經營及持續發展產生不利影響 。

（三）財務風險

1.

業績波動風險

宏觀經濟週期的波動 ，集成電路行業景氣度變化 ，境內外客戶的訂單調整 ，供應鏈的價格波動 ，廠務 、電力 、設備驗證
等事件造成的非計劃性生產波動等 ，及持續的資本開支 、折舊壓力和研發支出 ，可能導致公司在一定時期內面臨銷售收
入 、毛利率和利潤波動等風險 。

2.

資產減值風險

作為資本密集型企業 ，本集團固定資產規模較大 。未來 ，若發生資產市價當期大幅下跌且跌幅明顯高於因時間推移或正常
使用而預計的下跌 ，或公司所處的經濟 、技術或者法律等環境以及資產所處的市場在當期或者將在近期發生重大變化 ，或
市場利率或者其他市場投資報酬率在當期已經提高從而影響公司計算資產預計未來現金流量現值的折現率等跡象 ，可能造
成資產使用率不足 、終止使用或提前處置 ，或導致資產可收回金額低於賬面價值而形成減值 ，對本集團利潤表在當期帶來
不利影響 。
公司主要客戶為境內外集成電路設計公司及IDM企業 ，規模較大 ，信用水平較高 ，應收賬款回款良好 。雖然公司主要客戶
目前發生壞賬的可能性較小 ，但未來如果部分客戶的經營情況發生不利變化 ，公司仍將面臨應收賬款無法收回而導致的壞
賬損失風險 。
此外 ，未來如果市場需求發生變化 ，使得部分存貨的可變現淨值低於成本 ，公司將面臨存貨跌價損失增加的風險 。

12

中芯國際

二零二六年 中報

第三節

管理層討論與分析

3.

匯率及利率波動風險

本公司的記賬本位幣為美元 ，而集團部分交易採用人民幣或歐元 、日元等外幣計價 ，外幣貨幣性項目通過資產負債表日的
即期匯率進行折算 ，從而對匯兌損益產生影響 。公司秉持「匯率風險中性」的理念 ，建立匯率風險管理制度；審慎安排貨幣
性資產與負債的貨幣結構；通過各類匯率避險工具對沖匯率波動的影響 。但是未來如果境內外經濟環境 、政治形勢 、貨幣
政策等因素發生變化 ，使得本外幣匯率大幅波動 ，公司仍將面臨匯兌損失的風險 。
本公司的負債結構中包含部分浮動利率計息的債務 ，相關項目的利息支出可能受到市場利率波動的影響 。為了更好地管理
利率風險 ，公司對債務結構中固定利率與浮動利率債務的比例進行合理配置；同時靈活運用利率掉期等金融衍生工具對沖
利率波動風險 。但是未來如果境內外經濟環境 、政治形勢 、貨幣政策等因素發生變化 ，使得市場利率大幅波動 ，公司仍可
能面臨利息支出發生波動的風險 。

（四）行業風險

1.

產業政策變化風險

集成電路產業作為信息產業的基礎和核心 ，是國民經濟和社會發展的戰略性產業 。國家陸續出台了包括《國務院關於印發
進一步鼓勵軟件產業和集成電路產業發展若干政策的通知》
（國發[2011]4號）、《國務院關於印發新時期促進集成電路產業和
軟件產業高質量發展若干政策的通知》
（ 國發[2020]8號）在內的一系列政策 ，從財稅 、投融資 、研究開發 、進出口 、人才 、
知識產權 、市場應用 、國際合作等方面為集成電路企業提供了更多的支持 。未來如果國家相關產業政策出現重大不利變
化 ，將對公司發展產生一定不利影響 。

2.

行業競爭風險

從全球範圍來看 ，晶圓代工市場競爭激烈 ，公司與全球行業龍頭相比 ，在技術水準上仍存在一定差距 ，目前市場佔有率也
相對有限 。
近年來 ，芯片產業各類新應用領域持續湧現 ，疊加廣闊的市場前景 、在地化生產需求的提升及較為有利的產業政策 ，吸引
了諸多境內外相關企業在集成電路晶圓代工行業佈局 ，產能結構或將出現供過於求的局面 ，並可能導致市場競爭進一步加
劇。
未來 ，如果公司無法及時提供有競爭力的工藝技術和平台 ，可能面臨客戶流失與定價能力減弱的情況 ，並對公司的經營業
績產生不利影響 。

（五）宏觀環境風險

1.

宏觀經濟波動和行業週期性風險

受到全球宏觀經濟的波動 、行業景氣度等因素影響 ，集成電路行業存在一定的週期性 。如果宏觀經濟波動較大或長期處
於低谷 ，集成電路行業的市場需求也將隨之受到影響 。另外 ，下游市場需求的波動和低迷亦會導致集成電路產品的需求下
降 ，或由於半導體行業出現投資過熱 、重複建設的情況進而導致產能供應在景氣度較低時超過市場需求 ，進而影響集成電
路晶圓代工企業的盈利能力 ，將可能對公司的經營業績造成一定的影響 。

2.

地緣政治風險

隨著地緣政治衝突加劇 ，國際出口管制態勢趨嚴 ，美國近年來出台了一系列限制半導體製造設備和限制芯片出口的相關管
制政策 ，一些國家╱地區也相繼出台了類似管制措施 ，給全球半導體市場和芯片供應鏈穩定帶來不確定風險 。
公司於2020年被列為美國實體清單主體 ，且部分關聯公司於2024年被列為美國實體清單「附註5」主體 ，給公司的供應鏈安
全和業務穩定帶來一定挑戰 。未來如美國及一些國家╱地區對中國的出口管制措施趨於嚴格 ，例如許可證審批政策進一步
收緊 ，則公司還可能面臨相關受管制設備 、原材料 、零備件 、軟件及服務支持等生產資料供應緊張 、客戶合作受阻等風
險 ，進而可能對公司的研發 、生產 、經營 、業務造成不利影響 。除上述情況以外 ，部分投資人可能受限於美國財政部發
佈的「非SDN －中國軍事綜合體企業清單」
（ NS-CMIC清單）的要求 ，無法購買或出售公司公開發行的證券 。
公司將加強宏觀形勢研判 ，深度剖析國內外半導體行業的動態和演變 ，梳理出口管制等政策的潛在風險點 ，積極應對外部
經濟及政策環境變化對公司的潛在影響 。

中芯國際

二零二六年 中報

13

第三節

管理層討論與分析

（六）法律風險

1.

本公司的治理結構與適用中國境內法律 、法規和規範性文件的上市公司存在差異的風險

本公司是一家依據《開曼群島公司法》設立的公司 。根據《國務院辦公廳轉發證監會關於開展創新企業境內發行股票或存託憑
證試點若干意見的通知》
（國辦發[2018]21號），試點紅籌企業股權結構 、公司治理 、運行規範等事項可適用境外註冊地公
司法等法律法規規定 。本公司作為一家在開曼註冊的紅籌企業 ，需遵守《開曼群島公司法》和《公司章程》的規定 ，並已按照
《香港上市規則》和《科創板上市規則》要求完善了公司治理制度和運行規範 ，對於投資者權益保護的安排總體上不低於境內
法律要求 ，但在某些公司治理事項安排上與註冊在中國境內的一般A股上市公司相比還存在一定差異 ，詳情請參閱「第四節
公司治理 、環境和社會」之「一 、公司治理相關情況說明」。

2.

法律法規變化的風險

本公司設立在開曼 、子公司設立在中國境內及境外地區 ，本公司及其子公司需要遵守不同國家和地區的法律法規 。本公司
及子公司註冊地 、經營地法律法規如發生變化 ，可能對本公司及子公司的經營管理產生影響 。

3.

訴訟仲裁風險

公司所處的集成電路晶圓代工行業是帶動集成電路產業聯動的關鍵環節 ，客戶 、供應商數量眾多 。在未來的業務發展過程
中 ，公司不能排除與客戶 、供應商等發生訴訟或仲裁 ，從而耗費公司的人力 、物力以及分散管理精力 ，並承擔敗訴後果的
風險 ，可能會對公司的生產經營造成不利影響 。

（七）信息技術風險
公司重視對核心技術以及客戶信息的保護工作 ，根據總體戰略規劃 ，組建安全團隊 ，制定信息安全政策與目標 ，構建安全
技術方案 。
為不斷降低信息技術風險 ，依託ISO 27001信息安全管理領域的權威標準 ，進行信息安全治理 ，做好防毒 、防駭和防漏三
件大事 ，形成完整的機密信息技術防控和監控體系 。通過強化安全團隊能力 、優化多種信息安全技術 、提升全體員工安全
意識等系統性措施 ，降低關鍵業務 、系統和運營面臨的安全風險 ，確保合規性並保護公司聲譽 。
但由於網絡安全威脅的不可控因素 ，包括但不限於：0day漏洞 、職業化黑客攻擊等 ，公司仍面臨潛在數據丟失 、客戶服務
中斷或生產停滯的風險 。如上述情況發生 ，可能在一定程度上使公司的業務及名譽受損 。

（八）火災 、爆炸 、自然災害與公用設施供應中斷風險
中芯國際在生產過程中使用可燃性 、有毒有害化學品 ，它們可能造成火災 、爆炸或影響環境的風險 。此外 ，全球氣候變化
或系統性區域地質變化 ，可造成極端氣候 、極端天氣和破壞性地震等自然災害 ，可能帶來寒潮 、洪水 、海嘯 、颱風 、乾
旱和地震等風險 ，它們可能造成供水 、供電 、供氣等公用設施供應短缺或中斷風險 。
中芯國際致力於維護全面的風險管理系統以保護自然資源 、保障人員及資產的安全 。針對所有可能的緊急狀況及自然災
害 ，從風險預防 、緊急應變 、危機管理和營運持續等方面 ，制定全方位應對計劃及流程 ，並定期開展救災 、人員疏散等
應對計劃演練 。公司所有已經營運的晶圓廠均已通過環境管理系統（ISO 14001）、職業安全衛生管理系統（ISO 45001）的驗
證 ，以期將人員傷害 、營運中斷及財務衝擊降至最低 。
雖然在報告期內 ，公司的各個製造工廠並沒有因為上述風險對營運帶來影響 ，但是這些風險依然存在 。如上述情況發生 ，
可能在一定程度上造成公司的財產損失 、人員傷害 、業務中斷及名譽受損 。

14

中芯國際

二零二六年 中報

第三節

管理層討論與分析

五、報告期內主要經營情況
2026年上半年本集團實現收入5,511.1百萬美元 ，實現歸屬於本公司擁有人的期內利潤676.6百萬美元 。

（一）主營業務分析

1.

利潤表及現金流量表相關科目變動分析表
千美元
截至以下日期止六個月

收入
銷售成本
毛利
研究及開發開支
銷售及市場推廣開支
一般及行政開支
其他經營收入
財務收益淨額
其他收益╱（虧損），淨額
應佔聯營企業與合營企業損益
所得稅開支
經營活動所得現金淨額
投資活動所用現金淨額
融資活動所得現金淨額

(1)

06/30/26

06/30/25

06/30/26較
06/30/25(%)

5,511,075
(4,246,832)
1,264,243
(395,619)
(23,764)
(238,170)
171,412
14,968
70,123
198,355
(101,286)
3,207,101
(3,967,839)
2,972,442

4,456,267
(3,500,600)
955,667
(330,811)
(24,301)
(338,211)
198,646
71,699
(1,186)
(21,083)
(39,575)
909,257
(2,887,129)
604,271

23.7
21.3
32.3
19.6
-2.2
-29.6
-13.7
-79.1
不適用
不適用
155.9
252.7
37.4
391.9

收入

收入由上年同期4,456.3百萬美元上升23.7%至本期5,511.1百萬美元 ，主要是由於本期晶圓銷量增加 、平均售價上升及產
品組合變動所致 。銷售晶圓的數量（折合8吋標準邏輯）由上年同期的4,682千片增加14.9%至本期的5,379千片 。平均售價
（銷售晶圓收入除以銷售晶圓總數）本期為966美元 ，上年同期為903美元 。

(2)

銷售成本

銷售成本由上年同期3,500.6百萬美元增加21.3%至本期4,246.8百萬美元 ，主要是由於本期晶圓銷量增加 、產品組合變動
及折舊增加所致 。

(3)

毛利

毛利由上年同期955.7百萬美元增加32.3%至本期1,264.2百萬美元 ，主要是由於本期平均單價上升及產品組合變動所致 。

(4)

期內經營利潤

期內經營利潤由上年同期460.2百萬美元增加至本期782.0百萬美元 ，主要是由於上文所述的收入 、銷售成本及毛利變動 ，
以及下文變動的綜合效應所致：
本期研究及開發開支為395.6百萬美元 ，上年同期為330.8百萬美元 。
本期銷售及市場推廣開支為23.8百萬美元 ，上年同期為24.3百萬美元 。
本期一般及行政開支為238.2百萬美元 ，上年同期為338.2百萬美元 。變動主要是由於本期開辦開支減少所致 。
本期其他經營收入為171.4百萬美元 ，上期為198.6百萬美元 。

(5)

期內利潤

財務收益淨額包含利息收入 、財務費用和外幣匯兌收益 。財務收益淨額變動主要是由於本期利息收入減少和利息開支增加
所致 。
其他收益╱（虧損），淨額變動主要是由於本期權益工具投資之公允價值變動收益及聯營企業股權被動稀釋產生的收益增加
所致 。
應佔聯營企業與合營企業損益變動主要是由於本期對聯營企業投資確認的收益增加所致 。
所得稅開支增加主要是由於本期除稅前利潤增加所致 。
本集團本期期內利潤964.1百萬美元 ，上年同期期內利潤470.1百萬美元 ，增幅為105.1% ，變動主要受上文所述因素影
響。

中芯國際

二零二六年 中報

15

第三節

管理層討論與分析
現金流量

(6)

經營活動所得現金淨額變動主要是由於本期銷售商品收到的現金增加所致 。
投資活動所用現金淨額變動主要是由於本期股權投資支付的現金增加所致 。
融資活動所得現金淨額變動主要是由於本期收到少數股東資本注資所致 。

收入分析

2.

收入按地區分析
以地區分類
中國區
美國區
歐亞區

截至以下日期止六個月
06/30/26
06/30/25
89.6%
8.7%
1.7%

集成電路晶圓製造代工收入分析
以應用分類
智能手機
電腦與平板
消費電子
互聯與可穿戴
工業與汽車

以尺寸分類
8吋晶圓
12吋晶圓

84.2%
12.7%
3.1%

截至以下日期止六個月
06/30/26
06/30/25
17.8%
14.7%
45.1%
7.0%
15.4%

24.6%
16.2%
40.8%
8.3%
10.1%

截至以下日期止六個月
06/30/26
06/30/25
22.6%
77.4%

22.9%
77.1%

流動資金與資本來源
債務情況

3.
(1)

千美元
於以下日期
06/30/26

12/31/25

借款
租賃負債

14,017,712
1,245

12,587,850
8,331

有息債務總額
減：
現金及現金等價物
以公允價值計量且其變動計入損益的金融資產－流動部分(1)
以攤餘成本計量的金融資產 (2)

14,018,957

12,596,181

8,216,015
85,206
5,555,394

5,872,500
380,857
5,682,865

162,342

659,959

淨債務
附註：
(1)

主要包含銀行結構性存款和貨幣基金 。

(2)

主要包含超過三個月的銀行定期存款 。

本報告期末 ，本集團有息債務金額為14,018.9百萬美元 ，由有擔保銀行借款6,749.8百萬美元 、無擔保銀行借款7,267.9百
萬美元及租賃負債1.2百萬美元構成 。其中一年內到期的債務金額是5,150.8百萬美元 。債務安排的具體情況請參閱合併財
務報表附註20。

(2)

資本開支及資金來源

報告期內的資本開支主要用於產能擴充 。
本集團的實際開支可能會因客戶需求 、設備交期 、業務計劃 、市場情況和產業政策變化等因素而有別於計劃開支 。本公司
將密切注意全球經濟 、半導體產業 、客戶的需求 、營運現金流等 ，並於需要時經董事會批准調整資本開支計劃 。
本集團的資金來源主要包括經營所得現金 、銀行借款及發行債項或股本 、少數股東的資本注資及其他方式的融資 。因半導
體產業高度週期性及快速變化的特點 ，預測本集團增長及發展目標所需的資金金額有較大不確定性 。

16

中芯國際

二零二六年 中報

第三節

管理層討論與分析

(3)

作對沖用途的金融工具

本集團運用套期工具做現金流量避險：運用遠期外匯合約及交叉貨幣掉期合約等金融工具管理匯率變動的風險；運用利率
掉期合約及交叉貨幣掉期合約管理利率風險 。
本集團的匯率及利率風險請參閱本節「四 、風險因素」。

（二）非主營業務導致利潤重大變化的說明
千美元
項目

金額

應佔聯營企業與合營企業之變動計入損益
的公允價值計量項目收益淨額

218,993

情況說明

是否具有可持續性

主要系本期聯營企業對若干投資組合
的收益增加 。

否

（三）資產 、負債情況分析

1.

資產及負債狀況

千美元
於2026年
6月30日較
2025年
12月31日（%） 情況說明

項目名稱

於2026年
6月30日

本期期末數
佔總資產的
比例(%)

於2025年
12月31日

上年期末數
佔總資產的
比例(%)

於聯營企業的投資

2,501,476

4.4

1,309,570

2.5

91.0

增加的原因是本期對
聯營企業的投資增
加。

以公允價值計量且其
變動計入損益的金
融資產－非流動

1,359,264

2.4

810,501

1.6

67.7

增加的原因是本期權
益工具投資增加 。

以攤餘成本計量的金
融資產－非流動

1,065,898

1.9

1,532,265

2.9

-30.4

減少的原因是本期部
分長期定期存款到
期。

衍生金融工具－淨資
產

11,841

0.0

68,157

0.1

-82.6

變動的原因主要是本
期交叉貨幣掉期合
約的變動 。

以公允價值計量且其
變動計入損益的金
融資產－流動

85,206

0.1

380,857

0.7

-77.6

減少的原因是本期結
構性存款減少 。

現金及現金等價物

8,216,015

14.4

5,872,500

11.2

39.9

增加的原因主要是本
期銷售商品收到的
現金增加所致 。

借款－流動

5,150,096

9.0

2,593,077

5.0

98.6

增加的原因主要是本
期短期銀行借款及
一年內到期的長期
借款增加 。

中芯國際

二零二六年 中報

2.
(1)

截至報告期末主要資產受限情況
作為抵押品的資產

於本報告期末 ，無房屋建築物 、機器設備和土地使用權作為本集團借款的擔保 。

(2)

用途受限的資金

於本報告期末 ，本集團並無用途受限的資金 。

17

第三節

管理層討論與分析
其他說明
資本管理

3.
(1)

本集團管理其資金 ，以確保本集團內各實體能夠以持續經營方式運營 ，同時亦通過優化資本結構為利益相關者爭取最大回
報。
本集團通過發行新股 、股份回購 、發行新的債券或償還現有債券平衡其整體資本架構 ，並每半年進行一次資本結構回顧 。
報告期末的槓桿比率如下：

千美元
於以下日期
06/30/26

槓桿比率
淨債務
權益

12/31/25

162,342
37,857,388

659,959
35,020,523

0.4%

1.9%

淨債務權益比

資本化利息

(2)

資本化利息計入相關資產的成本 ，按會計政策年限折舊 。本報告期內和上年同期 ，無利息資本化 。本報告期內及上年同
期 ，本集團有關資本化利息的折舊支出分別為0.3百萬美元及5.2百萬美元 。

未來重大投資或購入資本資產的計劃

(3)

除本報告已披露事項外 ，截至報告期末 ，本集團無其他重大投資或購入資本資產的計劃 。

（四）投資狀況分析

對外股權投資總體分析

1.

以下為本公司於報告期內對聯營企業的投資實繳金額：

對聯營企業的注資

千美元
截至以下日期止六個月
06/30/26
06/30/25

變動幅度

957,586

1,131.2%

77,776

以公允價值計量的金融資產

2.

千美元
計入權益的
累計公允
價值變動

本期購買
金額

本期出售╱
贖回金額

其他變動

於2026年
6月30日

資產類別

於2026年 本期公允價值
1月1日
變動損益

股票
私募基金
結構性存款及貨幣基金
衍生金融工具－淨資產
其他權益工具

29
131,941
380,857
68,157
678,531

(1)
38,327
2,041
–
–

–
–
–
150,365
–

–
–
67,716
–
514,671

–
(8,280)
(367,790)
–
–

–
4,046
2,382
(206,681)
–

28
166,034
85,206
11,841
1,193,202

1,259,515

40,367

150,365

582,387

(376,070)

(200,253)

1,456,311

合計

(1)

證券投資情況
千美元

18

證券品種

證券代碼

於2026年
6月30日
投資成本

境內外股票

上市公司A

1,176

中芯國際

二零二六年 中報

資金來源
自有資金

於2026年
1月1日

本期公允
價值變動
損失

本期出售
金額

其他變動

於2026年
6月30日

29

(1)

–

–

28

會計核算科目
以公允價值計量且其變動
計入損益的金融資產

第三節

管理層討論與分析

(2) 衍生品投資情況
報告期內以套期保值為目的的衍生品投資
千美元

衍生品投資類型

於2026年
1月1日

計入權益的
累計公允
價值變動

其他變動

於2026年
6月30日

期末賬面價
值佔公司
報告期末
歸屬於本公司
擁有人的權益
比例（%）

交叉貨幣掉期合約
遠期外匯合約

65,157
3,000

144,043
6,322

(199,596)
(7,085)

9,604
2,237

0.04
0.01

合計

68,157

150,365

(206,681)

11,841

0.05

報告期內套期保值業務的會計政
策 、會計核算具體原則 ，以及
與上一期相比是否發生重大變
化的說明

本公司報告期內均採用套期會計 。套期工具利得或損失中屬於套期有效的部份 ，直接
確認為其他綜合收益；屬於套期無效的部份 ，計入當期損益 。本期會計政策和會計
核算具體原則未發生重大變化 。

報告期實際損益情況的說明

本公司報告期內所承做衍生品均以套期保值管理為目的 ，其公允價值變動計入其他綜
合收益 ，對當期損益無實際影響 。

套期保值效果的說明

請參閱刊登於上交所網站（https://www.sse.com.cn）上日期為2026年5月15日的《關於
2026年度開展套期保值業務的公告》。

衍生品投資資金來源

請參閱刊登於上交所網站（https://www.sse.com.cn）上日期為2026年5月15日的《關於
2026年度開展套期保值業務的公告》。

報告期衍生品持倉的風險分析及
控制措施說明（包括但不限於市
場風險 、流動性風險 、信用風
險 、操作風險 、法律風險等）

請參閱刊登於上交所網站（https://www.sse.com.cn）上日期為2026年5月15日的《關於
2026年度開展套期保值業務的公告》。

已投資衍生品報告期內市場價格
或產品公允價值變動的情況 ，
對衍生品公允價值的分析應披
露具體使用的方法及相關假設
與參數的設定

公司根據《國際財務報告準則第7號－金融工具：披露》
《國際財務報告準則第9號－金
融工具》
《國際財務報告準則第13號－公允價值計量》等相關規定及其指南 ，對擬開展
的外匯套期保值業務進行相應的核算處理 ，反映資產負債表及損益表相關項目 。

衍生品投資審批董事會公告披露
日期（如有）

2026年5月14日 ，公司董事會審議通過了《關於2026年度開展套期保值業務的議案》，
同意公司及子公司在2026年度開展與生產經營相關的套期保值業務 。

衍生品投資審批股東會公告披露
日期（如有）

上述《關於2026年度開展套期保值業務的議案》於2026年6月26日經股東會審議通過 。

中芯國際

二零二六年 中報

19

第三節

管理層討論與分析
私募股權投資基金投資情況

(3)

千美元
私募基 投資協議簽
金名稱 署時點
投資目的
A
B
C
D
E
F
G
H
I
J
K
L
M
N

2011年3月
2014年9月
2016年9月
2017年5月
2018年3月
2018年4月
2018年6月
財務投資
2020年8月
2021年10月
2021年11月
2021年12月
2022年12月
2023年10月
2024年5月

於2026年6月 是否控制該
是否存在關
30日出資比例 基金或施加
(%) 重大影響 會計核算科目 聯關係 基金底層資產情況

於2026年6
報告期內投 月30日已投
資金額 參與身份
擬投資總額
資金額
1,000,000美元
人民幣100,000,000元
人民幣13,000,000元
人民幣30,000,000元
人民幣100,000,000元
人民幣165,000,000元
人民幣50,000,000元
人民幣50,000,000元
人民幣30,000,000元
人民幣200,000,000元
人民幣100,000,000元
人民幣100,000,000元
人民幣7,500,000元
人民幣200,000,000元

合計

–
–
–
–
–
–
–
–
–
–
–
–
–
–

17
–
46
–
1,741
4,328
484
有限合夥人
1,486
2,589
29,337
14,669
7,334
1,100
8,801

–

71,932

1.27
–
3.61
–
9.05
10.21
16.53
30.12
3.00
24.84
17.21
20.75
15.00
19.02

否

以公允價值
計量且其
變動計入
損益的金
融資產

否

投資集成電路及相關產業
投資集成電路及相關產業
投資戰略性新興產業
投資集成電路及相關產業
投資集成電路及相關產業
投資集成電路及相關產業
投資戰略性新興產業
投資集成電路產業
投資區域戰略性新興產業
投資戰略性新興產業
投資戰略性新興產業
投資戰略性新興產業
投資區域戰略性新興產業
投資集成電路及相關產業

報告期利潤 累計利潤影
影響
響
459
6
(363)
(1)
(1,980)
9,183
(1,019)
–
(56)
34,702
(1,415)
178
(30)
(878)

4,044
18,352
6,296
1,630
12,971
14,367
3,197
14,258
210
46,303
1,770
436
(22)
(878)

38,786

122,934

截至2026年6月30日 ，該等投資金額均未達到或超過公司總資產的5% 。

（五）主要控股參股公司分析
本公司主要子公司為中芯上海 、中芯北京 、中芯天津 、中芯北方 、中芯深圳 、中芯南方 、中芯京城 、中芯東方及中芯西
青 。以下為主要子公司的合併會計數據：

千美元
總資產
55,392,912

權益

收入

稅前利潤

期內利潤

35,556,668

5,506,026

912,776

876,441

本公司無對期內利潤影響達10%以上的參股公司 。

六、展望
展望下半年 ，人工智能產生的產業推動與溢出效應還將持續 ，為集成電路製造帶來廣泛的需求 。公司靈活調配已有產能 ，
快速驗證新增產能 ，幫助緩解產業鏈緊缺局面 。
同時我們也看到 ，供應鏈成本上升的壓力已經向製造環節傳導 ，公司將積極應對 、克服困難 ，努力將影響降至最低 。總體
來說 ，我們對行業走向和公司發展保持樂觀看法 。

20

中芯國際

二零二六年 中報

第四節 公司治理、環境和社會
一、公司治理相關情況說明
本公司致力保持模範企業公民形象 ，並維持較高的公司治理水平 ，以保護其股東的利益 。本公司致力遵守《香港上市規則》
附錄C1所載《企業管治守則》
（「企管守則」），自2005年1月25日起已採用一套企業管治政策（「企管政策」），作為本公司的企
業治理守則 ，並不時進行修訂（於2025年5月8日最新修訂）以符合企管守則 。此外 ，本公司已採納或制定各種符合企管政
策條文的政策 、細則和流程 。公司於截至2026年6月30日止六個月一直遵守企管守則中所有適用的守則條文 。目前公司治
理情況如下：
本公司為一家設立於開曼群島並在香港聯交所及上海證券交易所科創板兩地上市的紅籌企業 ，已按照開曼群島法律的規定
並結合實際情況制定了《公司章程》。
同時 ，公司嚴格遵循《香港上市規則》及《科創板上市規則》，並已形成了規範的公司治理結構 。公司股東會 、董事會按照開
曼群島法律 、《香港上市規則》、《科創板上市規則》及《公司章程》等規定 ，獨立有效運作並切實履行職責 。
公司董事會的常設專門委員會包括審計委員會 、薪酬委員會 、提名委員會及戰略委員會 ，分別在審計 、薪酬 、提名及戰略
方面協助董事會履行職能 。
此外 ，公司目前聘任了四名專業人士擔任公司獨立非執行董事 ，參與決策和監督 ，增強董事會決策的客觀性 、科學性 。公
司獨立非執行董事一貫根據《香港上市規則》及香港證券市場普遍認同的標準履行職責 。

二、有關董事及最高行政人員的資料更新
根據《香港上市規則》第13.51B條的規定 ，除2025年年報內所披露外 ，於報告期內及截至本報告日期 ，有關董事及最高行
政人員的資料變動和更新如下：
任職人員姓名

任職單位名稱

擔任的職務

任期起始日期

任期終止日期

陳信元

寧波銀行股份有限公司

獨立董事

2026年7月

–

三、人員情況
除本半年度報告所披露者外 ，於本集團2025年年報內所披露有關僱員人數及薪酬 、薪酬政策 、僱員的花紅及股份激勵計劃
的資料 ，概無重大變動 。

四、利潤分配或資本公積金轉增預案
董事會不建議宣派截至2026年6月30日止六個月（截至2025年6月30日止六個月：無）期間的中期股息 。

中芯國際

二零二六年 中報

21

第四節

公司治理、環境和社會

五、公司股份激勵計劃、員工持股計劃或其他員工激勵措施的情況及其影響
（一）相關股份激勵事項已在臨時公告披露且後續實施無進展或變化的

22

事項概述

查詢索引

非本公司董事因行使根據2014以股支薪獎勵計劃所授予的受限制股份單
位而發行普通股股份；非本公司董事因行使根據2014年購股權計劃所
授予的期權而發行普通股股份 。

香港聯交所翌日披露報表：2026年1月14日

非本公司董事因行使根據2014以股支薪獎勵計劃所授予的受限制股份單
位而發行普通股股份；非本公司董事因行使根據2014年購股權計劃所
授予的期權而發行普通股股份 。

香港聯交所翌日披露報表：2026年2月13日

非本公司董事因行使根據2014以股支薪獎勵計劃所授予的受限制股份單
位而發行普通股股份；非本公司董事因行使根據2014年購股權計劃所
授予的期權而發行普通股股份 。

香港聯交所翌日披露報表：2026年3月3日

非本公司董事因行使根據2024年股份獎勵計劃所授予的限制性股票單位
而發行普通股股份；非本公司董事因行使根據2014以股支薪獎勵計劃
所授予的受限制股份單位而發行普通股股份；非本公司董事因行使根
據2014年購股權計劃所授予的期權而發行普通股股份 。

香港聯交所翌日披露報表：2026年3月6日

非本公司董事因行使根據2024年股份獎勵計劃所授予的限制性股票單位
而發行普通股股份 。

香港聯交所翌日披露報表：2026年3月10日

2026年4月1日 ，本公司根據2024年股份獎勵計劃授出限制性股票單位 。

詳情請參閱公司2026年4月1日於香港聯交所
網站(https://www.hkexnews.hk)披露的《授
出限制性股票單位》

本公司董事因行使根據2024年股份獎勵計劃所授予的限制性股票單位而
發行普通股股份；非本公司董事因行使根據2024年股份獎勵計劃所
授予的限制性股票單位而發行普通股股份；非本公司董事因行使根據
2014以股支薪獎勵計劃所授予的受限制股份單位而發行普通股股份；
非本公司董事因行使根據2014年購股權計劃所授予的期權而發行普通
股股份 。

香港聯交所翌日披露報表：2026年4月8日

非本公司董事因行使根據2024年股份獎勵計劃所授予的限制性股票單位
而發行普通股股份；非本公司董事因行使根據2014以股支薪獎勵計劃
所授予的受限制股份單位而發行普通股股份；非本公司董事因行使根
據2014年購股權計劃所授予的期權而發行普通股股份 。

香港聯交所翌日披露報表：2026年4月9日

非本公司董事因行使根據2024年股份獎勵計劃所授予的受限制股份單位
而發行普通股股份；非本公司董事因行使根據2014年購股權計劃所授
予的期權而發行普通股股份 。

香港聯交所翌日披露報表：2026年6月4日

中芯國際

二零二六年 中報

第四節

公司治理、環境和社會

事項概述

查詢索引

非本公司董事因行使根據2014年購股權計劃所授予的期權而發行普通股
股份 。

香港聯交所翌日披露報表：2026年6月24日

非本公司董事因行使根據2024年股份獎勵計劃所授予的限制性股票單位
而發行普通股股份；非本公司董事因行使根據2014以股支薪獎勵計劃
所授予的受限制股份單位而發行普通股股份；非本公司董事因行使根
據2014年購股權計劃所授予的期權而發行普通股股份 。

香港聯交所翌日披露報表：2026年6月29日

非本公司董事因行使根據2014以股支薪獎勵計劃所授予的受限制股份單
位而發行普通股股份；非本公司董事因行使根據2014年購股權計劃所
授予的期權而發行普通股股份 。

香港聯交所翌日披露報表：2026年6月30日

由於2014年購股權計劃及2014年以股支薪獎勵計劃均已於2023年11月10日終止 ，自其終止起 ，各計劃下不再有任何購股
權或獎勵可供授出 。此外 ，公司已承諾自2024年股份獎勵計劃生效日期起（即2023年11月10日），不會再根據2021年科創
板限制性股票激勵計劃發行及授出進一步的限制性股票 。據此 ，於前述股份計劃下 ，本期初及期末無可供授出之購股權或
獎勵 。於2024年股份獎勵計劃下 ，本期初可供授出之限制性股票單位數目為585,542,511份 ，本期末可供授出之限制性股
票單位數目為567,441,874份 。
本期 ，根據本公司所有港股股票計劃（包括2014年購股權計劃 、2014年以股支薪獎勵計劃和2024年股份獎勵計劃）項下授
予的所有購股權和獎勵計劃擬發行的港股股票數量佔本期末已發行港股股票的加權平均數量的比重為0.31% 。
本期 ，根據本公司科創板股票計劃（即2021年科創板限制性股票激勵計劃）授予的獎勵擬發行的科創板股票數量除以本期已
發行科創板股票的加權平均數量的比重為0.05% 。
本期 ，根據2014年購股權計劃 、2014年以股支薪獎勵計劃及2021年科創板限制性股票激勵計劃未授出期權或獎勵 。於
2026年4月1日 ，根據2024年股份獎勵計劃授予18,298,455個限制性股票單位 ，公允價值為52.82港元 ，乃是基於授予日
普通股的價格 。根據公司2026年4月1日公告中所披露之歸屬期 ，該些授出的限制性股票單位已經或將要進行歸屬 。關於
在此期間授予的限制性股票單位須達成以公司及個人績效指標為基礎的若干目標為條件 ，包括但不限於營收 、利潤 、項目
完成情況及其它相關指標 。各項目標可按絕對及╱或相對基準列示 。
有關購股權及受限制股份單位所採納的會計準則及政策請參閱本集團於2026年4月8日發佈的2025年年度報告中合併財務
報表附註4 ，在授出日期的公允價值請參閱本半年度報告合併財務報表附註22。

1.

2014年購股權計劃－港股

本公司股東採納於2013年11月15日生效的2014年購股權計劃 ，2014年購股權計劃當時於中國國家外匯管理局登記 。
截至2026年6月30日止六個月 ，2014年購股權計劃下 ，向本集團僱員（本公司董事除外）授出的購股權變動如下：

單位：股
購股權授出日期
5/25/2016
5/22/2017
9/7/2017
5/23/2018
5/25/2020
11/23/2020
5/31/2021
9/15/2021
11/19/2021
合計

緊接行權日期前
報告期 港股加權平均收
市價（港元）
行權數量

授出日每股行權
價格（港元）

於2026年
1月1日
尚未行權數量

報告期
新授予數量

報告期
失效數量

報告期
註銷數量

6.42
8.48
7.90
10.51
18.10
23.00
24.50
23.18
22.41

30,450
6,937
1,687,500
1,564,225
2,386,116
862,327
1,263,012
77,500
1,283,629

–
–
–
–
–
–
–
–
–

30,450
–
–
–
–
22,209
–
–
9,768

–
–
–
–
–
–
–
–
–

–
–
–
153,500
97,150
117,185
74,697
–
116,725

9,161,696

–

62,427

–

559,257

–
–
–
75.44
81.22
72.67
74.75
–
75.72

於2026年
6月30日
尚未行權數量

緊接授出
日期前港股收
市價（港元）

–
6,937
1,687,500
1,410,725
2,288,966
722,933
1,188,315
77,500
1,157,136

6.50
8.35
7.83
10.40
16.92
22.75
24.15
22.95
22.35

權利行使期間
5/25/2016-5/24/2026
5/22/2017-5/21/2027
9/7/2017-9/6/2027
5/23/2018-5/22/2028
5/25/2020-5/24/2030
11/23/2020-11/22/2030
5/31/2021-5/30/2031
9/15/2021-9/14/2031
11/19/2021-11/18/2031

8,540,012

中芯國際

二零二六年 中報

23

第四節

公司治理、環境和社會

2018年1月1日前授出且發行予新僱員及當時現有僱員可認購購股權一般於歸屬起算日第一周年按股份25%之比率歸屬 ，並
於歸屬起算日隨後第二 、三及四周年內 ，每月再歸屬餘下股份的1/36。
2018年1月1日後授出且發行予新僱員及現有僱員的可認購購股權一般於歸屬起算日隨後第一 、二 、三及四周年分別按
25%之比率歸屬 。
根據2014年購股權計劃中的條款 ，董事會和薪酬委員會可分別批准加快本公司董事及本集團僱員獲授的購股權的歸屬期 。
鑒於2024年股份獎勵計劃已於2023年6月28日的股東周年大會審議通過以及董事會已決定終止2014年購股權計劃 ，該計劃
將自2024年股份獎勵計劃生效之日起自動到期 。2014年購股權計劃終止後 ，不再提供新的期權 ，但在終止前授予的期權
應保留 ，並根據2014年購股權計劃的條款繼續歸屬 。

2.

2014年以股支薪獎勵計劃－港股

本公司股東採納於2013年11月15日生效的2014年以股支薪獎勵計劃 ，2014年以股支薪獎勵計劃當時於中國國家外匯管理
局登記 。
截至2026年6月30日止六個月 ，2014年以股支薪獎勵計劃下 ，向本集團僱員（本公司董事除外）授出的受限制股份單位變動
如下：

單位：股
受限制股份單位
授出日期
4/8/2022
5/20/2022
9/5/2022
11/18/2022
4/1/2023

報告期
新授予數量

報告期
失效數量

報告期
註銷數量

報告期
歸屬數量

緊接歸屬日期前
港股加權平均
收市價（港元）

於2026年
6月30日
尚未歸屬數量

緊接授出
日期前港股
收市價（港元）

1,168,574
29,993
43,403
111,676
70,221

–
–
–
–
–

23,140
–
–
–
–

–
–
–
–
–

1,145,434
29,993
43,403
–
–

68.00
70.95
68.81
–
–

–
–
–
111,676
70,221

16.80
15.88
15.00
17.40
18.60

1,423,867

–

23,140

–

1,218,830

於2026年
1月1日
每股購買價格
（港元） 尚未歸屬數量
0.031
0.031
0.031
0.031
0.031

合計

歸屬期間
11/1/2021-3/1/2026
1/4/2022-2/9/2026
4/1/2022-6/28/2026
8/29/2022-9/27/2026
10/9/2022-1/16/2027

181,897

2023年4月1日前向新僱員及現有僱員發行的受限制股份單位一般於歸屬起算日第一 、二 、三及第四周年分別按25%之比
率歸屬 。
2023年4月1日（含）後向現有僱員發行的受限制股份單位一般於歸屬起算日當日及隨後第一和第二周年分別按每年50% 、
30% 、20%之比率歸屬 。
根據2014年以股支薪獎勵計劃中的條款 ，薪酬委員會可批准加快本公司董事及本集團僱員獲授的受限制股份單位的歸屬
期。
鑒於2024年股份獎勵計劃已於2023年6月28日的股東周年大會審議通過以及董事會已決定終止2014年以股支薪獎勵計劃 ，
該計劃應自2024年股份獎勵計劃生效之日起自動到期 。2014年以股支薪獎勵計劃終止後 ，不再提供新的受限制股份單
位 ，但在終止前授予的受限制股份單位應保留 ，並根據2014年以股支薪獎勵計劃的條款繼續歸屬 。

3.

2021年科創板限制性股票激勵計劃－ A股

2021年6月25日 ，本公司股東大會批准採納了2021年科創板限制性股票激勵計劃 。
截至2026年6月30日止六個月 ，2021年科創板限制性股票激勵計劃下 ，向本集團僱員（本公司董事除外）授出的限制性股票
變動如下：

單位：股

限制性股票授出日期

於2026年
1月1日
每股授予價格
（人民幣） 尚未歸屬數量

6/21/2022
合計

20.00

報告期
新授予數量

報告期
失效數量

報告期
註銷數量

報告期
歸屬數量

1,095,840

–

48,960

–

–

1,095,840

–

48,960

–

–

本公司不會根據2021年科創板限制性股票激勵計劃授予更多限制性股票 。

24

中芯國際

二零二六年 中報

緊接歸屬日期
於2026年
前A股加權
6月30日
平均收市價
（人民幣） 尚未歸屬數量
–

1,046,880
1,046,880

緊接授出日期
前A股收市價
（人民幣）
45.68

歸屬有效期
6/22/2023-6/18/2027

第四節

公司治理、環境和社會

4.

2024年股份獎勵計劃－港股

本公司股東採納於2023年11月10日生效的2024年股份獎勵計劃 ，2024年股份獎勵計劃當時於中國國家外匯管理局登記 。
截至2026年6月30日止六個月 ，2024年股份獎勵計劃下 ，向本集團僱員（本公司董事除外）授出的限制性股票單位變動如
下：

單位：股

限制性股票單位授出日期
4/1/2024
4/1/2025
4/1/2026

於2026年
1月1日
每股授出代價
（港元） 尚未歸屬數量
0.031
0.031
0.031

合計

報告期
新授予數量

報告期
失效數量

報告期
註銷數量

報告期
歸屬數量

1,490,535
1,330,834
–

–
–
18,180,472

24,777
40,596
132,445

–
–
–

1,465,758
786,431
9,093,176

2,821,369

18,180,472

197,818

–

11,345,365

緊接歸屬日期
於2026年
前港股加權
6月30日
平均收市價
（港元） 尚未歸屬數量
50.70
50.70
50.70

緊接授出日期
前港股收市價
（港元）

–
503,807
8,954,851

15.16
46.10
50.70

歸屬期間
4/1/2024-4/1/2026
4/1/2025-4/1/2027
4/1/2026-4/1/2028

9,458,658

本集團的部分僱員參與本公司的2024年股份獎勵計劃 。本集團向參與者發行的限制性股票單位一般於歸屬起算日當日及隨
後第一及第二周年分別按50% 、30% 、20%之比率歸屬 。
根據2024年股份獎勵計劃中的條款 ，薪酬委員會可批准加快本公司董事及本集團僱員獲授的限制性股票單位的歸屬期 。

六、遵守上市發行人董事進行證券交易的標準守則
本公司已制定一套符合《香港上市規則》附錄C3所載上市發行人董事進行證券交易的標準守則（「標準守則」）所訂標準的內幕
信息知情人管理制度及實施細則 。本公司向所有董事進行了具體詢問後 ，確認所有董事於截至2026年6月30日止六個月一
直遵守標準守則和公司的內幕信息知情人管理制度及實施細則 。
本公司及其子公司的董事 、高級管理人員及員工亦必須遵守公司的內幕信息知情人管理制度及實施細則及中國證監會 、上
交所關於內幕交易的規定 。

七、審計委員會之審閱
審計委員會已與本公司管理層審查本公司採用的會計準則和慣例以及本公司的未經審計2026年半年度財務報告 。

八、納入環境信息依法披露企業名單的上市公司及其主要子公司的環境信息情況
納入環境信息依法披露企業名單中的企業數量

6

序號

企業名稱

環境信息依法披露報告的查詢索引

1
2
3
4
5
6

中芯東方
中芯北京
中芯北方
中芯京城
中芯深圳
中芯天津

https://e2.sthj.sh.gov.cn/jsp/view/hjpl/index.jsp
https://hjxxpl.bevoice.com.cn:8002/home
https://hjxxpl.bevoice.com.cn:8002/home
https://hjxxpl.bevoice.com.cn:8002/home
https://gdee.gd.gov.cn/gdeepub/front/dal/dal/newindex
https://hjxxpl.sthj.tj.gov.cn:10800/#/gkwz/jcym

中芯國際

二零二六年 中報

25

第五節

重要事項

一、承諾事項履行情況
（一）公司股東 、關聯方 、收購人以及公司等承諾相關方在報告期內或持續到報告期內的承諾事項
如未能及時
履行應說明
下一步計劃

承諾背景

承諾類型

承諾方

承諾內容

承諾時間

承諾期限

是否有
履行期限

與首次公開
發行相關
的承諾

解決同業競爭

主要股東 、間接持
股5%以上的境
內股東
公司 、主要股東 、
間接持股5%以
上的境內股東 、
董事及高級管理
人員
公司

詳見附註1

2020年7月16日

長期有效

否

是

不適用

不適用

詳見附註2

2020年7月16日

長期有效

否

是

不適用

不適用

詳見附註3

2020年7月16日

長期有效

否

是

不適用

不適用

公司 、主要股東 、
間接持股5%以
上的境內股東
公司 、董事 、高級
管理人員

詳見附註4

2020年7月16日

長期有效

否

是

不適用

不適用

詳見附註5

2020年7月16日

長期有效

否

是

不適用

不適用

詳見附註6
詳見附註7

2020年7月16日
2020年7月16日

長期有效
長期有效

否
否

是
是

不適用
不適用

不適用
不適用

詳見附註8

2020年7月16日

長期有效

否

是

不適用

不適用

詳見附註9

2020年7月16日

長期有效

否

是

不適用

不適用

解決關聯（連）
交易

其他（股份回購
和股份購回的
承諾）
其他（對欺詐發行
上市股票購回
的承諾）
其他（填補被攤薄
即期回報的
承諾）
分紅
其他（依法承擔
賠償或賠償
責任的承諾）

公司
公司 、主要股東 、
間接持股5%以
上的境內股東 、
董事 、高級管理
人員
其他（未履行承諾 公司 、主要股東 、
的約束措施）
間接持股5%以
上的境內股東 、
董事 、高級管理
人員
其他（關於適用
公司 、董事 、高級
法律和管轄
管理人員
法院的承諾）

26

是否及時
嚴格履行

如未能及時
履行應說明
未完成履行
的具體原因

中芯國際

二零二六年 中報

第五節

重要事項

是否有
履行期限

是否及時
嚴格履行

如未能及時
履行應說明
未完成履行
的具體原因

如未能及時
履行應說明
下一步計劃

承諾背景

承諾類型

承諾方

承諾內容

承諾時間

承諾期限

與重大資產重
組相關的
承諾

股份限售

國家集成電路基
金 、北京集成電
路製造和裝備股
權投資中心（有
限合夥）、北京
亦莊國際投資發
展有限公司 、中
關村發展集團股
份有限公司以及
北京工業發展投
資管理有限公司
（統稱為「交易對
方」）
公司及其董事 、高
級管理人員 ，公
司持股5%以上
股東 ，交易對
方 ，中芯北方
（「標的公司」）
公司及其董事 、高
級管理人員 ，公
司持股5%以上
股東 ，交易對
方 ，標的公司
公司及其董事 、高
級管理人員 、交
易對方 、標的公
司
公司董事 、高級管
理人員

詳見附註10

2025年9月8日

因本次交
易取得
的公司
的股份
自發行
結束之
日起12
個月內
不得轉
讓。

是

是

不適用

不適用

詳見附註11

2025年9月8日

本次交易
實施完
畢期間

否

是

不適用

不適用

詳見附註12

2025年9月8日

本次交易
實施完
畢期間

否

是

不適用

不適用

詳見附註13

2025年9月8日

本次交易
實施完
畢期間

否

是

不適用

不適用

其他（關於填補被
攤薄即期回報
相關措施的承
諾）
其他（關於減持計 公司持股5%以上股
劃的承諾）
東

詳見附註14

2025年9月8日

長期有效

否

是

不適用

不適用

詳見附註15

2025年9月8日

否

是

不適用

不適用

公司持股5%以上股
東

詳見附註16

2025年12月29日

本次交易
實施完
畢期間
長期有效

否

是

不適用

不適用

公司持股5%以上股
東

詳見附註17

2025年12月29日

長期有效

否

是

不適用

不適用

公司持股5%以上股
東

詳見附註18

2025年9月8日

長期有效

否

是

不適用

不適用

公司持股5%以上股
東

詳見附註19

2025年9月8日

長期有效

否

是

不適用

不適用

交易對方

詳見附註20

2025年12月29日

本次交易
實施完
畢期間

否

是

不適用

不適用

其他（關於所提供
信息真實性 、
準確性和完整
性的承諾）
其他（關於不存在
洩露本次交易
內幕信息或進
行內幕交易的
承諾）
其他（關於無違法
違規及誠信情
況的承諾）

其他（關於減少和
規範關聯交易
的承諾）
其他（關於避免
同業競爭的承
諾）
其他（關於保持公
司獨立性的承
諾）
其他（關於本次重
組攤薄即期回
報及填補回報
措施的承諾）
其他（關於所持標
的公司股權權
屬的承諾）

中芯國際

二零二六年 中報

27

第五節

重要事項

附註1：
主要股東 、間接持股5%以上的境內股東承諾
1.

截至本承諾函出具之日 ，本企業及本企業直接或間接控制的下屬企業並未在中國境內或境外以任何方式直接或間接從事與發行人或其
下屬企業主營業務存在同業競爭或潛在同業競爭的業務 ，包括但不限於未單獨或連同 、代表任何人士 、商號或公司（企業 、單位），
發展 、經營或協助經營 、參與 、從事相關業務 。

2.

自本承諾函出具之日起 ，本企業承諾將不會：（ 1）單獨或與第三方 ，以直接或間接控制的形式從事與發行人或其下屬企業主營業務構
成具有重大不利影響的同業競爭或潛在同業競爭的業務或活動（「競爭業務」）
；
（2）如本企業及本企業直接或間接控制的下屬企業獲得以
任何方式擁有與發行人及其下屬企業從事競爭業務企業的控制性股份 、股權或權益的新投資機會 ，本企業將書面通知發行人 ，若在
通知中所指定的合理期間內 ，發行人做出願意接受該新投資機會的書面答覆 ，本企業或本企業直接或間接控制的下屬企業（發行人及
其下屬企業除外）在合法框架下盡力促使該等新投資機會按合理和公平的條款和條件首先提供給發行人或其下屬企業 。

3.

本承諾函自出具之日起生效 ，直至發生下列情形之一時終止：
（1）本企業及一致行動人（如有）直接或間接持有發行人股份比例低於5%
（不包括本數）；（2）發行人的股票終止在上海證券交易所上市（但發行人的股票因任何原因暫停買賣除外）；（3）國家規定對某項承諾的
內容無要求時 ，相應部分自行終止 。

4.

「下屬企業」就本承諾函的任何一方而言 ，指由其（ 1）持有或控制50%或以上已發行的股本或享有50%或以上的投票權（如適用），或
（ 2）有權享有50%或以上的稅後利潤 ，或（ 3）有權控制董事會之組成或以其他形式控制的任何其他企業或實體（無論是否具有法人資
格），以及該其他企業或實體的下屬企業 。

如本公司未能依照上述承諾履行義務的 ，本公司將依照未能履行承諾時的約束措施承擔相應責任 。
附註2：
公司承諾
1.

嚴格按照上市地相關法規要求履行法定關聯（連）交易審批程序 ，並嚴格執行關聯（連）交易回避制度；

2.

保證獨立非執行董事依法行使職權 ，確保關聯（連）交易價格的公允性和批准程序的合規性 ，最大程度保護其他股東利益；

3.

公司主要股東及關聯企業與公司發生關聯（連）交易 ，將嚴格按照有關法律 、法規和規範性文件的規定 ，履行關聯（連）交易決策程
序 ，及時進行信息披露 ，保證不通過關聯（連）交易損害公司及其他股東的合法權益 。

如本公司未能依照上述承諾履行義務的 ，本公司將依照未能履行承諾時的約束措施承擔相應責任 。

28

中芯國際

二零二六年 中報

第五節

重要事項

主要股東 、間接持股5%以上的境內股東承諾
1.

在不對發行人及其他股東的利益構成不利影響的前提下 ，本公司將採取措施規範並盡量減少與發行人發生關聯（連）交易 。

2.

對於正常經營範圍內所需的關聯（連）交易 ，本公司將與發行人依法簽訂規範的交易協議 ，並按照有關法律 、法規 、規範性文件和發
行人本次A股發行後適用的《Semiconductor Manufacturing International Corporation（中芯國際集成電路製造有限公司）組織章程大
綱及章程細則》等發行人內控制度的規定履行或配合發行人履行審議批准程序和回避表決及信息披露義務 ，並保證該等關聯交易均將
基於公平公正公開等關聯交易基本原則實施 。

3.

保證不利用關聯（連）交易損害發行人及其他股東的利益 。

如本公司未能依照上述承諾履行義務的 ，本公司將依照未能履行承諾時的約束措施承擔相應責任 。
董事及高級管理人員承諾
1.

在不對發行人及其他股東的利益構成不利影響的前提下 ，本人將採取措施規範並盡量減少與發行人發生關聯（連）交易 。

2.

對於正常經營範圍內或存在其他合理原因無法避免的關聯（連）交易 ，本人將與發行人依法簽訂規範的交易協議 ，並按照有關法律 、
法規 、規範性文件和發行人本次A股發行後適用的《Semiconductor Manufacturing International Corporation（中芯國際集成電路製造
有限公司）組織章程大綱及章程細則》及相關內控制度的規定履行審議批准程序和回避表決及信息披露義務 ，並保證該等關聯（連）交易
均將基於關聯（連）交易原則實施 。

3.

保證不利用關聯（連）交易損害發行人及其他股東的利益 。

本人做出的承諾須符合適用法律 、法規及規範性文件的規定 ，及證券監督管理部門和其他有權部門的監管要求 。如本人違反上述承諾 ，將
遵照另行出具的《Semiconductor Manufacturing International Corporation（中芯國際集成電路製造有限公司）董事 、高級管理人員關於未能
履行相關承諾的約束措施的承諾函》承擔相應責任 。
附註3：
公司承諾
1.

如證券監督管理部門或其他有權部門認定公司本次A股發行的《招股說明書》所載之內容存在任何虛假記載 、誤導性陳述或者重大遺漏
之情形 ，該等情形對判斷公司是否符合法律規定的發行條件構成重大且實質影響 ，且以欺詐手段騙取發行註冊並已經發行上市的 ，
則公司承諾將依法回購本次A股發行的全部新股 。

2.

當《Semiconductor Manufacturing International Corporation（ 中芯國際集成電路製造有限公司）關於首次公開發行人民幣普通股（A股）
並在上海證券交易所科創板上市後三年穩定A股股價的預案》中約定的啟動穩定股價的觸發條件成就時 ，公司將按照此預案的規定履
行回購公司股份的義務 。

如公司違反上述承諾 ，將遵照另行出具的《Semiconductor Manufacturing International Corporation（中芯國際集成電路製造有限公司）關於
未能履行相關承諾的約束措施的承諾函》承擔相應責任 。

中芯國際

二零二六年 中報

29

第五節

重要事項

附註4：
公司承諾
1.

本公司保證發行人本次A股發行不存在任何欺詐發行的情形 。

2.

如本公司不符合發行上市條件 ，以欺詐手段騙取發行註冊並已經發行上市的 ，本公司將在中國證券監督管理委員會等有權部門確認後
5個工作日內啟動股份購回程序 ，購回本公司本次A股發行的全部新股 。

如本公司未能依照上述承諾履行義務的 ，本公司將依照未能履行承諾時的約束措施承擔相應責任 。
主要股東 、間接持股5%以上的境內股東承諾
1.

保證發行人本次A股發行不存在任何欺詐發行的情形 。

2.

如本公司不符合發行上市條件 ，以欺詐手段騙取發行註冊並已經發行上市的 ，將督促本公司在中國證券監督管理委員會等有權部門確
認後5個工作日內啟動股份購回程序 ，購回公司本次A股發行的全部新股 。

如本公司未能依照上述承諾履行義務的 ，本公司將依照未能履行承諾時的約束措施承擔相應責任 。
附註5：
公司承諾
本公司將積極履行填補被攤薄即期回報的措施 ，如公司違反前述承諾 ，將遵照另行出具的《Semiconductor Manufacturing International
Corporation（中芯國際集成電路製造有限公司）關於未能履行相關承諾的約束措施的承諾函》承擔相應責任 ，同時向投資者提出補充承諾或替
代承諾 ，以盡可能保護投資者的利益 ，並在公司股東大會審議通過後實施補充承諾或替代承諾 。
董事 、高級管理人員承諾
1.

本人承諾不無償或以不公平條件向其他單位或者個人輸送利益 ，也不採用其他方式損害公司利益 。

2.

本人承諾對職務消費行為進行約束 。

3.

本人承諾不動用公司資產從事與本人履行職責無關的投資 、消費活動 。

4.

本人承諾由董事會或薪酬委員會制定的薪酬制度與發行人填補被攤薄即期回報的措施的執行情況相掛鈎 。

5.

如發行人後續推出股權激勵政策 ，本人承諾同意擬公佈實施的發行人股權激勵的行權條件與發行人填補被攤薄即期回報的措施的執行
情況相掛鈎 。

6.

自本承諾出具日至發行人本次A股發行完畢前 ，如中國證券監督管理委員會或上海證券交易所發佈關於填補被攤薄即期回報的措施及
承諾的其他新監管規定的 ，且上述承諾不能滿足前述規定時 ，本人承諾屆時將按照前述規定出具補充承諾 。

7.

本人承諾切實履行發行人制定的有關填補被攤薄即期回報的措施以及對此做出的任何有關填補被攤薄即期回報的措施的承諾 ，如違反
該等承諾並給發行人或者投資者造成損失的 ，本人願意依法承擔對發行人或者投資者的補償責任 。

30

中芯國際

二零二六年 中報

第五節

重要事項

本人做出的承諾須符合適用法律 、法規及規範性文件的規定 ，及證券監督管理部門和其他有權部門的監管要求 。如本人違反上述承諾 ，將
遵照另行出具的《Semiconductor Manufacturing International Corporation（中芯國際集成電路製造有限公司）董事 、高級管理人員關於未能
履行相關承諾的約束措施的承諾函》承擔相應責任 。
附註6：
公司承諾
公 司 在 本 次 A 股 發 行 後 將 嚴 格 依 照 中 國 證 券 監 督 管 理 委 員 會《 關 於 進 一 步 落 實 上 市 公 司 現 金 分 紅 有 關 事 項 的 通 知 》
《Semiconductor
Manufacturing International Corporation（中芯國際集成電路製造有限公司）組織章程大綱及章程細則》及《Semiconductor Manufacturing
International Corporation（中芯國際集成電路製造有限公司）利潤分配政策及首次公開發行人民幣普通股（A股）並在上海證券交易所科創板上
市後三年分紅回報計劃》等規定執行利潤分配政策 。
如公司違反上述承諾 ，將遵照另行出具的《Semiconductor Manufacturing International Corporation（中芯國際集成電路製造有限公司）關於
未能履行相關承諾的約束措施的承諾函》承擔相應責任 。
附註7：
公司承諾
1.

公司本次A股發行的《招股說明書》所載之內容不存在虛假記載 、誤導性陳述或重大遺漏之情形 ，且公司對上市文件所載之內容真實
性 、準確性 、完整性承擔相應的法律責任 。

2.

如中國證券監督管理委員會或其他有權部門認定《招股說明書》所載之內容存在任何虛假記載 、誤導性陳述或者重大遺漏之情形 ，該
等情形對判斷公司是否符合法律規定的發行條件構成重大且實質影響 ，且以欺詐手段騙取發行註冊並已經發行上市的 ，則公司承諾將
依法回購本次A股發行的全部新股 。

3.

如《招股說明書》所載之內容存在虛假記載 、誤導性陳述或者重大遺漏 ，致使投資者在證券交易中遭受損失的 ，則公司將依法賠償投
資者損失 ，具體流程如下：
(1)

證券監督管理部門或其他有權部門認定公司《招股說明書》存在虛假記載 、誤導性陳述或者重大遺漏 ，且公司因此承擔責任
的 ，公司在收到該等認定的書面通知後五個工作日內 ，將啟動賠償投資者損失的相關工作；

(2)

公司將積極與相關中介機構 、投資者溝通協商確定賠償範圍 、賠償順序 、賠償金額 、賠償方式；

(3)

經前述方式協商確定賠償金額 ，或者經證券監督管理部門或其他有權部門認定賠償金額後 ，依據前述溝通協商的方式或其它
法定形式進行賠償 。

如公司違反上述承諾 ，將遵照另行出具的《Semiconductor Manufacturing International Corporation（中芯國際集成電路製造有限公司）關於
未能履行相關承諾的約束措施的承諾函》承擔相應責任 。

中芯國際

二零二六年 中報

31

第五節

重要事項

主要股東承諾
1.

本次A股發行的《招股說明書》所載之內容不存在虛假記載 、誤導性陳述或重大遺漏之情形 ，且本公司對《招股說明書》所載之內容真實
性 、準確性 、完整性承擔相應的法律責任 。

2.

如《招股說明書》所載之內容存在虛假記載 、誤導性陳述或者重大遺漏 ，致使投資者在證券交易中遭受損失的 ，則本公司將依法賠償
投資者損失 ，具體流程如下：
(1)

證券監督管理部門或司法機關最終認定《招股說明書》存在虛假記載 、誤導性陳述或者重大遺漏 ，且本公司因此承擔責任的 ，
本公司在收到該等認定書面通知後十個工作日內 ，將啟動賠償投資者損失的相關工作；

(2)

本公司將積極與投資者溝通協商確定賠償範圍 、賠償順序 、賠償金額 、賠償方式；

(3)

經前述方式協商確定賠償金額 ，或者經證券監督管理部門 、司法機關最終認定賠償金額後 ，據此進行賠償 。

如本公司未能依照上述承諾履行義務的 ，本公司將依照未能履行承諾時的約束措施承擔相應責任 。
間接持股5%以上的境內股東承諾
1.

本次A股發行的《招股說明書》所載之內容不存在虛假記載 、誤導性陳述或重大遺漏之情形 ，且本公司對《招股說明書》所載之內容真實
性 、準確性 、完整性承擔相應的法律責任 。

2.

如《招股說明書》所載之內容存在虛假記載 、誤導性陳述或者重大遺漏 ，致使投資者在證券交易中遭受損失的 ，則本公司將依法賠償
投資者損失 ，具體流程如下：
(1)

證券監督管理部門或司法機關最終認定《招股說明書》存在虛假記載 、誤導性陳述或者重大遺漏 ，且本公司因此承擔責任的 ，
本公司在收到該等認定書面通知後三個工作日內 ，將啟動賠償投資者損失的相關工作；

(2)

本公司將積極與投資者溝通協商確定賠償範圍 、賠償順序 、賠償金額 、賠償方式；

(3)

經前述方式協商確定賠償金額 ，或者經證券監督管理部門 、司法機關最終認定賠償金額後 ，據此進行賠償 。

如本公司未能依照上述承諾履行義務的 ，本公司將依照未能履行承諾時的約束措施承擔相應責任 。

32

中芯國際

二零二六年 中報

第五節

重要事項

董事 、高級管理人員承諾
1.

本次A股發行的《招股說明書》及其他申請文件所載之內容不存在虛假記載 、誤導性陳述或重大遺漏之情形 ，且本人對《招股說明書》所
載之內容真實性 、準確性 、完整性承擔相應的法律責任 。

2.

如《招股說明書》及其他申請文件所載之內容存在虛假記載 、誤導性陳述或者重大遺漏 ，致使投資者在證券交易中遭受損失的 ，則本
人將依法賠償投資者損失 ，具體流程如下：
(1)

證券監督管理部門或其他有權部門認定《招股說明書》及其他申請文件存在虛假記載 、誤導性陳述或者重大遺漏 ，且本人因此
承擔責任的 ，本人在收到該等認定書面通知後三個工作日內 ，將啟動賠償投資者損失的相關工作；

(2)

本人將積極與發行人 、其他中介機構 、投資者溝通協商確定賠償範圍 、賠償順序 、賠償金額 、賠償方式；

(3)

經前述方式協商確定賠償金額 ，或者經證券監督管理部門 、司法機關認定賠償金額後 ，依據前述溝通協商的方式或其它法定
形式進行賠償 。

本人做出的承諾須符合適用法律 、法規及規範性文件的規定 ，及證券監督管理部門和其他有權部門的監管要求 。如本人違反上述承諾 ，將
遵照另行出具的《Semiconductor Manufacturing International Corporation（中芯國際集成電路製造有限公司）董事 、高級管理人員關於未能
履行相關承諾的約束措施的承諾函》承擔相應責任 。
附註8：
公司承諾
1.

公司在本次A股發行中做出的全部公開承諾（「承諾事項」）均為公司的真實意思表示 ，並對公司具有約束力 ，公司自願接受監管機構 、
自律組織及社會公眾的監督 。公司將嚴格履行承諾事項中的各項義務和責任 。

2.

如公司非因不可抗力原因導致未能完全且有效地履行承諾事項 ，則公司承諾將採取以下措施予以約束：
(1)

可 以 採 取 相 應 補 救 措 施 或 提 出 新 的 承 諾（ 相 關 承 諾 需 按 法 律 、 法 規 及 規 範 性 文 件 、《Semiconductor Manufacturing
International Corporation（中芯國際集成電路製造有限公司）組織章程大綱及章程細則》及相關內控制度的規定履行相關審批和
信息披露程序）
；

(2)

在證券監管管理部門或其他有權部門認定公司違反或者未實際履行承諾事項之日起30日內 ，或認定因公司違反或未實際履行
承諾事項而致使投資者在證券交易中遭受損失之日起30日內 ，公司將依法向投資者賠償相應損失 ，補償金額依據公司與投資
者協商確定的金額 ，或證券監督管理部門或其他有權部門認定的方式或金額確定 。

中芯國際

二零二六年 中報

33

第五節

重要事項

主要股東 、間接持股5%以上的境內股東承諾
1.

本公司在發行人本次A股發行中做出的全部公開承諾（「承諾事項」）均為本公司的真實意思表示 ，並對本公司具有約束力 ，本公司自願
接受監管機構 、自律組織及社會公眾的監督 。本公司將嚴格履行承諾事項中的各項義務和責任 。

2.

如本公司非因不可抗力原因導致未能完全且有效地履行前述承諾事項 ，則本公司承諾將採取以下各項措施予以約束：
(1)

可以採取相應補救措施或提出新的承諾（相關承諾需按法律 、法規 、規範性文件及公司章程 、相關內控制度的規定履行相關審
批和信息披露程序）
；

(2)

在證券監管部門或司法機關最終認定本公司違反或者未實際履行前述承諾事項且應承擔賠償責任的 ，本公司將依法承擔相應
賠償責任 。

董事 、高級管理人員承諾
1.

本人在發行人本次A股發行中做出的全部公開承諾（「承諾事項」）均為本人的真實意思表示 ，並對本人具有約束力 ，本人自願接受監管
機構 、自律組織及社會公眾的監督 。本人將嚴格履行承諾事項中的各項義務和責任 。

2.

如本人非因不可抗力原因導致未能完全且有效地履行承諾事項 ，則本人承諾將採取以下各項措施予以約束：
(1)

可 以 採 取 相 應 補 救 措 施 或 提 出 新 的 承 諾（ 相 關 承 諾 需 按 法 律 、 法 規 、 規 範 性 文 件 及《Semiconductor Manufacturing
International Corporation（中芯國際集成電路製造有限公司）組織章程大綱及章程細則》、相關內控制度的規定履行相關審批和
信息披露程序）
；

(2)

在證券監管部門或其他有權部門認定本人違反或者未實際履行前述承諾事項之日起30日內 ，或認定因本人違反或未實際履行
承諾事項而致使投資者在證券交易中遭受損失之日起30日內 ，本人自願將從發行人所領取的全部薪酬和╱或津貼對投資者先
行進行賠償 。

附註9：
公司承諾
1.

若因公司首次公開發行人民幣普通股（A股）並在上海證券交易所科創板上市以及公司在科創板上市期間所發生的糾紛 ，將適用中華人
民共和國（不包含香港特別行政區 、澳門特別行政區及台灣地區）
（以下簡稱「中國」）法律 ，並由中國境內有管轄權的人民法院管轄 。
公司不會對上述法律適用及法院管轄提出異議 。

2.

前述第1條規定的糾紛應包括：
(1)

董事 、高級管理人員執行公司職務時違反法律法規或者公司章程的規定給公司造成損失的 ，或者他人侵犯公司合法權益給公
司造成損失的 ，連續一百八十日以上單獨或者合計持有公司百分之一以上人民幣普通股（A股）的股東提起的派生訴訟；

(2)

因公司未按照規定披露信息 ，或者公告的證券發行文件 、定期報告 、臨時報告及其他信息披露資料存在虛假記載 、誤導性陳
述或者重大遺漏 ，致使人民幣普通股（A股）股東在證券交易中遭受損失的 ，人民幣普通股（A股）的股東針對發行人及其他相關
責任人提起的民事賠償訴訟 。

34

中芯國際

二零二六年 中報

第五節

重要事項

董事 、高級管理人員承諾
1.

若本次A股發行上市以及在科創板上市期間發生糾紛 ，將適用中華人民共和國（不包含香港特別行政區 、澳門特別行政區及台灣地區）
法律 ，並由中國境內有管轄權的人民法院管轄 。

2.

本人不會對上述法律適用及法院管轄提出異議 。

附註10：
交易對方承諾
1.

本公司╱本企業因本次交易取得的上市公司的股份 ，自股份發行結束之日起12個月內不轉讓 。本次交易完成後 ，股份鎖定期內 ，本
公司╱本企業通過本次交易取得的上市公司股份 ，因上市公司發生送股 、轉增股本等原因而相應增加的股份 ，亦應遵守上述股份鎖
定安排 。

2.

如前述關於本次交易中取得的上市公司股份的鎖定期安排與現行有效的法律法規及證券監管機構的最新監管意見不相符 ，本公司╱本
企業同意根據現行有效的法律法規及證券監管機構的監管意見進行相應調整；上述股份鎖定期屆滿之後 ，將按照中國證券監督管理委
員會和上海證券交易所的有關規定執行 。

3.

本公司╱本企業授權上市公司辦理本公司╱本企業通過本次交易取得的上市公司股份在鎖定期內的鎖定手續 。

附註11：
公司承諾
1.

本公司已向為本次交易提供審計 、評估 、法律及財務顧問等專業服務的中介機構提供了本次交易事宜在現階段所必需的 、真實 、準
確 、完整的文件 、資料或口頭的陳述和說明 ，不存在任何虛假記載 、誤導性陳述或重大遺漏之處；所提供的副本材料或復印件均與
正本材料或原件是一致和相符的；所提供的文件 、材料上的簽署 、印章是真實的 ，並已履行該等簽署和蓋章所需的法定程序 、獲得
合法授權；所有陳述和說明的事實均與所發生的事實一致；

2.

本公司保證已履行了法定的披露和報告義務 ，不存在應當披露而未披露的合同 、協議 、安排或其他事項；

3.

根據本次交易的進程 ，本公司將依照法律 、法規 、規章 、中國證券監督管理委員會和上海證券交易所的有關規定 ，及時提供相關信
息和文件 ，並保證繼續提供的信息和文件仍然符合真實 、準確 、完整的要求；

4.

本公司承諾並保證本次交易的信息披露和申請文件的內容真實 、準確 、完整 ，保證不存在虛假記載 、誤導性陳述或者重大遺漏 ，並
願意承擔相應的法律責任 。

中芯國際

二零二六年 中報

35

第五節

重要事項

公司董事 、高級管理人員承諾
1.

本人已向上市公司及為本次交易提供審計 、評估 、法律及財務顧問等專業服務的中介機構提供了的本次交易事宜的相關資料均真
實 、準確 、完整 ，不存在任何虛假記載 、誤導性陳述或重大遺漏之處；所提供的副本材料或復印件均與正本材料或原件是一致和相
符的；所提供的文件 、材料上的簽署 、印章是真實的；所有陳述和說明的事實均與所發生的事實一致；

2.

如本次交易因涉嫌所提供或披露的信息存在虛假記載 、誤導性陳述或者重大遺漏 ，被司法機關立案偵查或者被中國證券監督管理委員
會立案調查的 ，在案件調查結論明確以前 ，如本人持有上市公司股份的 ，不轉讓在上市公司擁有權益的股份 ，並於收到立案稽查通
知的兩個交易日內將暫停轉讓的書面申請和股票賬戶提交上市公司董事會 ，由董事會代本人向證券交易所和登記結算公司申請鎖定；
如本人未在兩個交易日內提交鎖定申請 ，授權董事會核實後直接向證券交易所和登記結算公司報送本人的身份信息和賬戶信息並申
請鎖定；董事會未向證券交易所和登記結算公司報送本人的身份信息和賬戶信息的 ，授權證券交易所和登記結算公司直接鎖定相關股
份 。如調查結論發現存在違法違規情節 ，本人承諾鎖定股份自願用於相關投資者賠償安排；

3.

根據本次交易的進程 ，本人將依照法律 、法規 、規章 、中國證券監督管理委員會和上海證券交易所的有關規定 ，及時提供相關信息
和文件 ，並保證繼續提供的信息和文件仍然符合真實 、準確 、完整的要求；

4.

本人承諾並保證本次交易的信息披露和申請文件的內容真實 、準確 、完整 ，保證不存在虛假記載 、誤導性陳述或者重大遺漏 ，並願
意依法承擔相應的法律責任 。

公司持股5%以上股東承諾
1.

本企業已向上市公司及為本次交易提供審計 、評估 、法律及財務顧問等專業服務的中介機構提供了的本次交易事宜的相關資料均真
實 、準確 、完整 ，不存在任何隱瞞 、虛假和重大遺漏之處；所提供的副本材料或復印件均與正本材料或原件是一致和相符的；所提
供的文件 、材料上的簽署 、印章是真實的；所有陳述和說明的事實均與所發生的事實一致；

2.

如本次交易因本企業涉嫌所提供或披露的信息存在虛假記載 、誤導性陳述或者重大遺漏 ，被司法機關立案偵查或者被中國證券監督管
理委員會立案調查的 ，在案件調查結論明確以前 ，如本企業持有上市公司股份的 ，不轉讓在上市公司擁有權益的股份 ，並於收到立
案稽查通知的兩個交易日內將暫停轉讓的書面申請和股票賬戶提交上市公司董事會 ，由董事會代本企業向證券交易所和登記結算公司
申請鎖定；如本企業未在兩個交易日內提交鎖定申請 ，授權董事會核實後直接向證券交易所和登記結算公司報送本企業的身份信息和
賬戶信息並申請鎖定；董事會未向證券交易所和登記結算公司報送本企業的身份信息和賬戶信息的 ，授權證券交易所和登記結算公司
直接鎖定相關股份 。如調查結論發現存在違法違規情節 ，本企業承諾鎖定股份自願用於相關投資者賠償安排；

3.

本企業保證在參與本次交易期間將依照相關法律 、法規 、規章 、中國證監會和上海證券交易所的有關規定 ，及時向上市公司披露有
關本次交易的信息 ，並保證該等信息的真實性 、準確性和完整性；

4.

36

中芯國際

本企業在承諾函中所述情況不存在虛假記載 、誤導性陳述和重大遺漏 ，並對其真實性 、準確性和完整性依法承擔相應的法律責任 。

二零二六年 中報

第五節

重要事項

交易對方承諾
1.

本公司╱本企業保證本次交易所提供信息真實 、準確和完整 ，資料副本或復印件與原始資料或原件一致 ，所有文件的簽名 、印章均
是真實的 ，該等文件的簽署人經合法授權並有效簽署該文件 ，不存在虛假記載 、誤導性陳述或者重大遺漏；若信息披露存在虛假記
載 、誤導性陳述或者重大遺漏 ，將依法承擔相應的法律責任 。

2.

本公司╱本企業保證為本次交易所出具的說明及確認均為真實 、準確和完整的 ，不存在任何虛假記載 、誤導性陳述或者重大遺漏 ，
並對其虛假記載 、誤導性陳述或者重大遺漏承擔相應的法律責任 。

3.

根據本次交易的進程 ，本公司╱本企業在參與本次交易過程中 ，將及時向上市公司提供本次交易相關信息 ，並保證所提供的信息真
實 、準確 、完整 ，不存在虛假記載 、誤導性陳述或者重大遺漏；如因提供的信息存在虛假記載 、誤導性陳述或者重大遺漏 ，給上市
公司或者投資者造成損失的 ，本企業將依法承擔相應的法律責任 。

4.

如本次交易因涉嫌所提供或者披露的信息存在虛假記載 、誤導性陳述或者重大遺漏 ，被司法機關立案偵查或者被中國證券監督管理
委員會立案調查的 ，在案件調查結論明確之前 ，本企業將暫停轉讓本企業在上市公司擁有權益的股份 ，並於收到立案稽查通知的兩
個交易日內將暫停轉讓的書面申請和股票賬戶提交上市公司董事會 ，由董事會代其向證券交易所和證券登記結算機構申請鎖定；未在
兩個交易日內提交鎖定申請的 ，授權董事會核實後直接向證券交易所和證券登記結算機構報送本企業的身份信息和賬戶信息並申請鎖
定；董事會未向證券交易所和證券登記結算機構報送本企業的身份信息和賬戶信息的 ，授權證券交易所和證券登記結算機構直接鎖定
相關股份 。如調查結論發現存在違法違規情節 ，本企業承諾鎖定股份自願用於相關投資者賠償安排 。

標的公司承諾
1.

本公司 、本公司全體董事 、監事 、高級管理人員已向上市公司及為本次交易提供審計 、評估 、法律及財務顧問等專業服務的中介機
構提供了本次交易事宜在現階段所必需的 、真實 、準確 、完整的文件 、資料或口頭的陳述和說明 ，不存在任何虛假記載 、誤導性陳
述或重大遺漏之處；所提供的副本材料或復印件均與正本材料或原件是一致和相符的；所提供的文件 、材料上的簽署 、印章是真實
的 ，並已履行該等簽署和蓋章所需的法定程序 、獲得合法授權；所有陳述和說明的事實均與所發生的事實一致 。

2.

本公司 、本公司全體董事 、監事 、高級管理人員保證已履行了法定的披露和報告義務 ，不存在應當披露而未披露的合同 、協議 、安
排或其他事項 ，為本次交易所提供的信息和文件的真實 、準確 、完整 ，保證不存在虛假記載 、誤導性陳述或者重大遺漏 ，並願意承
擔相應的法律責任 。

3.

根據本次交易的進程 ，本公司 、本公司全體董事 、監事 、高級管理人員將依照法律 、法規 、規章 、中國證券監督管理委員會和上海
證券交易所的有關規定 ，及時提供相關信息和文件 ，並保證繼續提供的信息和文件仍然符合真實 、準確 、完整的要求 。

中芯國際

二零二六年 中報

37

第五節

重要事項

附註12：
公司承諾
1.

截至本承諾函簽署日 ，本公司及本公司控制的企業不存在依據《上市公司監管指引第7號－上市公司重大資產重組相關股票異常交易監
管》第十二條或《上海證券交易所上市公司自律監管指引第6號－重大資產重組》第三十條規定的不得參與任何上市公司重大資產重組情
形 ，即本公司及本公司控制的企業不存在因涉嫌與本次交易相關的內幕交易被立案調查或者立案偵查的情形 ，最近36個月內不存在
因與本次交易相關的內幕交易被中國證券監督管理委員會作出行政處罰或者司法機關依法追究刑事責任的情形 。

2.

截至本承諾函簽署日 ，本公司不存在違規洩露本次交易的相關內幕信息及違規利用該內幕信息進行內幕交易的情形 ，並保證採取必要
措施對本次交易事宜所涉及的資料和信息嚴格保密 。

3.

若違反上述承諾 ，本公司承諾將依法承擔法律責任 。

公司董事 、高級管理人員承諾
1.

截至本承諾函簽署日 ，本人不存在依據《上市公司監管指引第7號－上市公司重大資產重組相關股票異常交易監管》第十二條規定或
《上海證券交易所上市公司自律監管指引第6號－重大資產重組》第三十條規定的不得參與任何上市公司重大資產重組情形 ，即本人不
存在因涉嫌與本次交易相關的內幕交易被立案調查或者立案偵查的情形 ，最近36個月內不存在因與本次交易相關的內幕交易被中國
證券監督管理委員會作出行政處罰或者司法機關依法追究刑事責任的情形 。

2.

截至本承諾函簽署日 ，本人不存在違規洩露本次交易的相關內幕信息及違規利用該內幕信息進行內幕交易的情形 。

3.

若違反上述承諾 ，由此給上市公司或者其他投資者造成損失的 ，本人承諾將依法承擔相應的法律責任 。

公司持股5%以上股東承諾
1.

本企業不存在依據《上市公司監管指引第7號－上市公司重大資產重組相關股票異常交易監管》第十二條或《上海證券交易所上市公司自
律監管指引第6號－重大資產重組》第三十條規定的不得參與任何上市公司重大資產重組情形 ，即本企業不存在因涉嫌與本次交易相關
的內幕交易被立案調查或者立案偵查的情形 ，最近36個月內不存在因與重大資產重組相關的內幕交易被中國證券監督管理委員會作
出行政處罰或者司法機關依法追究刑事責任的情形 。

38

2.

本企業不存在違規洩露本次交易的相關內幕信息及違規利用該內幕信息進行內幕交易的情形 。

3.

若本企業違反上述承諾 ，本企業願意依法承擔相應的法律責任 。

中芯國際

二零二六年 中報

第五節

重要事項

交易對方承諾
1.

截至本承諾函出具日 ，本公司╱本企業 、本公司╱本企業的控股股東（如有）及實際控制人（如有）、本公司╱本企業的董事（如有）、
監事（如有）及高級管理人員及上述主體控制的機構（如有）不存在依據《上市公司監管指引第7號－上市公司重大資產重組相關股票異
常交易監管》第十二條或《上海證券交易所上市公司自律監管指引第6號－重大資產重組》第三十條規定的不得參與任何上市公司重大資
產重組情形 ，即本公司╱本企業 、本公司╱本企業的控股股東（如有）及實際控制人（如有）、本公司╱本企業的董事（如有）、監事（如
有）及高級管理人員及上述主體控制的機構（如有）不存在因涉嫌與本次交易相關的內幕交易被立案調查或者立案偵查的情形 ，最近36
個月內不存在因與重大資產重組相關的內幕交易被中國證券監督管理委員會作出行政處罰或者司法機關依法追究刑事責任的情形 。

2.

截至本承諾函出具日 ，本公司╱本企業 、本公司╱本企業的控股股東（如有）及實際控制人（如有）、本公司╱本企業的董事（如有）、
監事（如有）及高級管理人員不存在違規洩露本次交易的相關內幕信息及違規利用該內幕信息進行內幕交易的情形 ，且本公司╱本企業
保證採取必要措施對本次交易事宜所涉及的資料和信息嚴格保密 。

3.

若違反上述承諾 ，由此給上市公司或者其他投資者造成損失的 ，本公司╱本企業將依法承擔相應的法律責任 。

標的公司承諾
1.

本公司不存在依據《上市公司監管指引第7號－上市公司重大資產重組相關股票異常交易監管》第十二條或《上海證券交易所上市公司自
律監管指引第6號－重大資產重組》第三十條規定的不得參與任何上市公司重大資產重組的情形 。

2.

截至本承諾函簽署日 ，本公司不存在違規洩露本次交易的相關內幕信息以及利用本次交易信息進行內幕交易的情形 ，並保證採取必要
措施對本次交易事宜所涉及的資料和信息嚴格保密 。

3.

如本公司違反上述承諾 ，本公司願意依法承擔法律責任 。

附註13：
公司承諾
1.

截至本承諾函簽署日 ，本公司不存在因涉嫌犯罪正被司法機關立案偵查或涉嫌違法違規正被中國證監會立案調查的情形；最近三年
內 ，本公司不存在受到刑事處罰的情形 ，也不存在因違反證券法律 、行政法規 、規章受到中國證監會的行政處罰的情形 。

2.

最近三年內 ，本公司誠信情況良好 ，不存在被列入失信聯合懲戒對象 、失信被執行人名單或存在嚴重的證券市場失信的情形；最近
十二個月內 ，不存在嚴重損害投資者的合法權益和社會公共利益及受到證券交易所公開譴責或其他重大失信行為等情況 。

3.

本公司在承諾函中所述情況均客觀真實 ，不存在虛假記載 、誤導性陳述和重大遺漏 ，並對其真實性 、準確性和完整性承擔法律責任 。

中芯國際

二零二六年 中報

39

第五節

重要事項

公司董事 、高級管理人員承諾
1.

本人最近三年內未受過與證券市場有關的行政處罰 、刑事處罰 ，最近一年未受到證券交易所公開譴責 。

2.

本人最近三年不存在未按期償還大額債務被人民法院列為失信被執行人 、被中國證監會採取行政處罰或受到證券交易所紀律處分的情
形等 。

3.

本人不存在因涉嫌犯罪正被司法機關立案偵查或涉嫌違法違規正被中國證監會立案調查的情形 。

4.

本人在承諾函中所述情況均客觀真實 ，不存在虛假記載 、誤導性陳述和重大遺漏 ，並對其真實性 、準確性和完整性承擔法律責任 。

交易對方承諾
1.

本公司╱本企業及現任主要管理人員最近五年內未受過行政處罰（與證券市場明顯無關的除外）或刑事處罰 ，或者涉及與經濟糾紛有關
的重大民事訴訟或者仲裁事項 。

2.

本公司╱本企業及現任主要管理人員最近五年的誠信狀況良好 ，不存在未按期償還大額債務 、未履行承諾 、被中國證監會採取行政
監管措施或受到證券交易所紀律處分的情形等 。

3.

截至本承諾函出具之日 ，本公司╱本企業及現任主要管理人員不存在作為一方當事人的尚未了結的對本次交易產生重大不利影響的重
大訴訟 、仲裁及行政處罰的情形 。

4.

本公司╱本企業保證 ，如違反上述聲明與承諾 ，本公司╱本企業將依法承擔相應的法律責任 。

標的公司承諾
1.

本公司最近三年不存在受到刑事處罰的情形；或者因違反證券法律 、行政法規 、規章受到中國證監會行政處罰的情形 。

2.

最近三年內 ，本公司誠信情況良好 ，不存在被列入失信聯合懲戒對象 、失信被執行人名單或存在嚴重的證券市場失信的情形；最近
十二個月內 ，不存在嚴重損害投資者合法權益和社會公共利益的情形 。

3.

截至本承諾函簽署日 ，本公司不存在尚未了結或可預見的重大訴訟 、仲裁或行政處罰案件 ，亦不存在因涉嫌犯罪正被司法機關立案
偵查或涉嫌違法違規正被中國證監會立案調查的情形 。

附註14：
公司董事 、高級管理人員承諾

40

1.

本人承諾不無償或以不公平條件向其他單位或者個人輸送利益 ，也不採用其他方式損害上市公司利益 。

2.

本人承諾對本人的職務消費行為進行約束 。

3.

本人承諾不動用上市公司資產從事與其履行職責無關的投資 、消費活動 。

中芯國際

二零二六年 中報

第五節

重要事項

4.

本人承諾全力促使由董事會或薪酬委員會制定的薪酬制度與上市公司填補即期回報措施的執行情況相掛鈎 。

5.

若上市公司未來實施股權激勵 ，本人承諾全力促使擬公佈的上市公司股權激勵的行權條件與上市公司填補即期回報措施的執行情況相
掛鈎 。

6.

自本承諾函出具之日至上市公司本次交易實施完畢前 ，若中國證監會等證券監管機構作出關於填補即期回報措施及其承諾的其他新的
監管規定的 ，且上述承諾相關內容不能滿足中國證監會等證券監管機構的該等規定時 ，本人承諾屆時將按照適用於本人的證券監管機
構的最新規定出具相應補充承諾 。本人承諾切實履行上市公司制定的有關填補即期回報措施以及本人對此作出的任何有關填補即期回
報措施的承諾 。

7.

若違反上述承諾由此給上市公司或者其他投資者造成損失的 ，本人承諾依法承擔相應法律責任 。

附註15：
公司持股5%以上股東承諾
1.

本企業承諾自本承諾函出具之日起至本次交易實施完畢期間 ，如本企業根據自身實際需要或市場變化擬進行A股減持 ，將嚴格按照法
律法規及中國證券監督管理委員會 、上海證券交易所之相關規定操作 ，及時披露A股減持計劃 ，並將嚴格執行相關法律法規關於A股
股份減持的規定及要求 。

2.

若違反上述承諾 ，由此給上市公司或者其他投資者造成損失的 ，本企業承諾將依法承擔相應的責任 。

附註16：
公司持股5%以上股東承諾
1.

在不對上市公司及其他股東的合法利益構成不利影響的前提下 ，本企業將採取措施規範並盡量減少與上市公司發生關聯交易 。

2.

對於正常經營範圍內所需或有合理理由發生的關聯交易 ，本企業將基於公平公正公開等關聯交易基本原則與上市公司依法簽訂規範的
交易協議 ，並按照有關法律 、法規 、規範性文件和上市公司適用的《Semiconductor Manufacturing International Corporation（中芯
國際集成電路製造有限公司）組織章程大綱及章程細則》等上市公司內控制度的規定履行或配合上市公司履行審議批准程序和回避表決
及信息披露義務 。

3.

保證不利用關聯交易損害上市公司及其他股東的合法利益 。

如本企業違反上述承諾 ，本企業將依法承擔相應的法律責任 。
附註17：
公司持股5%以上股東承諾
1.

截至本承諾函出具之日 ，本企業╱本公司及本企業╱本公司直接或間接控制的下屬企業並未在中國境內或境外以任何方式直接或間
接從事與發行人╱上市公司或其下屬企業主營業務存在同業競爭或潛在同業競爭的業務 ，包括但不限於未單獨或連同 、代表任何人
士 、商號或公司（企業 、單位），發展 、經營或協助經營 、參與 、從事相關業務 。

中芯國際

二零二六年 中報

41

第五節
2.

重要事項
自本承諾函出具之日起 ，本企業╱本公司承諾將不會：
(1)

單獨或與第三方 ，以直接或間接控制的形式從事與發行人╱上市公司或其下屬企業主營業務構成具有重大不利影響的同業競
爭或潛在同業競爭的業務或活動（以下簡稱「競爭業務」）
；(2)如本企業╱本公司及本企業╱本公司直接或間接控制的下屬企業獲
得以任何方式擁有與發行人╱上市公司及其下屬企業從事競爭業務企業的控制性股份 、股權或權益的新投資機會 ，本企業╱
本公司將書面通知發行人╱上市公司 ，若在通知中所指定的合理期間內 ，發行人╱上市公司做出願意接受該新投資機會的書
面答覆 ，本企業╱本公司或本企業╱本公司直接或間接控制的下屬企業（發行人╱上市公司及其下屬企業除外）在合法框架下
盡力促使該等新投資機會按合理和公平的條款和條件首先提供給發行人╱上市公司或其下屬企業 。

3.

本承諾函自出具之日起生效 ，直至發生下列情形之一時終止：(1)本企業╱本公司及一致行動人（如有）直接或間接持有發行人╱上市
公司股份比例低於5%（不包括本數）
；(2)發行人╱上市公司的股票終止在上海證券交易所上市（但發行人╱上市公司的股票因任何原因
暫停買賣除外）
；(3)國家規定對某項承諾的內容無要求時 ，相應部分自行終止 。

4.

「下屬企業」就本承諾函的任何一方而言 ，指由其(1)持有或控制50%或以上已發行的股本或享有50%或以上的投票權（如適用），或(2)
有權享有50%或以上的稅後利潤 ，或(3)有權控制董事會之組成或以其他形式控制的任何其他企業或實體（無論是否具有法人資格），
以及該其他企業或實體的下屬企業 。

附註18：
公司持股5%以上股東承諾
1.

在本次交易完成後 ，本企業將嚴格遵守中國證券監督管理委員會 、上海證券交易所有關規章及上市公司適用的《Semiconductor
Manufacturing International Corporation（中芯國際集成電路製造有限公司）組織章程大綱及細則》的相關規定 ，依法行使股東權利 、
履行股東義務 ，不利用持股5%以上股東地位謀取不當利益 ，不干預上市公司在人員 、資產 、財務 、機構及業務方面繼續與本企業控
制的其他企業完全分開 ，不影響上市公司在業務 、資產 、人員 、財務和機構方面的獨立；

2.

若違反上述承諾 ，由此給上市公司或者其他投資者造成損失的 ，本企業承諾將依法承擔相應的法律責任 。

附註19：
公司持股5%以上股東承諾
1.

本企業不越權干預上市公司經營管理活動 ，不侵佔上市公司利益；

2.

本企業切實履行上市公司制定的有關填補回報措施以及本承諾 ，若違反本承諾或拒不履行本承諾給上市公司或者投資者造成損失
的 ，本企業同意根據法律 、法規及證券監管機構的有關規定承擔相應法律責任；

3.

自本承諾出具日至上市公司本次交易實施完畢前 ，若中國證監會或證券交易所作出關於填補回報措施及其承諾的其他新的監管規定
的 ，且上述承諾不能滿足中國證監會或證券交易所該等規定時 ，本企業承諾屆時將按照中國證監會或證券交易所的最新規定出具補充
承諾 。

本企業在承諾函中所述情況均客觀真實 ，不存在虛假記載 、誤導性陳述和重大遺漏 ，並對其真實性 、準確性和完整性承擔法律責任 。如本
企業違反上述承諾 ，本企業將依法承擔相應的法律責任 。

42

中芯國際

二零二六年 中報

第五節

重要事項

附註20：
交易對方承諾
1.

本企業是依法設立且合法有效存續的企業 。本企業不存在根據法律 、法規或公司章程╱合夥協議約定需要終止或解散的情形 ，具備
作為本次交易的交易對方的資格 。

2.

截至本承諾函簽署日 ，本企業已依照標的公司的《公司章程》的規定履行了對標的公司的出資義務 ，出資價款均系自有資金 ，出資價
款真實且已足額到位 ，不存在任何虛假出資 、抽逃出資等違反作為股東所應承擔的義務及責任的行為 ，不存在可能影響標的公司合
法存續的情況 。本企業作為標的公司的股東 ，合法持有標的公司股權 。

3.

截至本承諾函簽署日 ，本企業對所持標的公司的股權擁有合法的 、完整的所有權或處分權 。該等股權權屬清晰 ，不存在任何形式的
委託持股 、信託安排 、收益權安排 、期權安排 、股權代持的情形 ，且該等股權未設定任何抵押 、質押等他項權利 ，不存在禁止轉
讓 、限制轉讓的其他權益安排 ，亦未被司法部門實施扣押 、查封 、凍結等使其權利受到限制的任何約束或者妨礙權屬轉移的其他情
況。

4.

本企業對所持標的公司的股權資產權屬清晰 ，不存在任何形式的權屬糾紛或潛在糾紛的情形 。

5.

在本次交易實施完畢之前 ，本企業保證不就本企業所持標的公司的股權設置抵押 、質押等任何第三人權利 。

本企業在承諾函中所述情況不存在虛假記載 、誤導性陳述和重大遺漏 ，並對其真實性 、準確性和完整性承擔法律責任 。如本企業違反上述
承諾 ，本企業將依法承擔相應的法律責任 。

二、重大訴訟、仲裁事項
於2020年5月7日 ，本公司子公司中芯國際集成電路新技術研發（上海）有限公司（「中芯新技術」）收到了香港國際仲裁中心出
具的仲裁通知書 。根據該仲裁通知書 ，PDF SOLUTIONS, INC.（「PDF」）向香港國際仲裁中心提起仲裁 。仲裁庭於2025年11
月12日裁決中芯新技術需向PDF支付相關費用 。中芯新技術認為該項裁決存在明顯不當 ，在仲裁程序和關鍵法律適用上均
存在瑕疵 。於本報告日期 ，中芯新技術已經向香港高等法院提出撤裁申請 。

三、重大關聯（連）交易
（一）與日常經營相關的關聯交易

已在臨時公告披露 ，但有後續實施的進展或變化的事項
2025年2月11日 ，公司董事會審議通過了《關於中芯與大唐續簽<2025年－ 2027年關聯（連）交易框架協議>的議案》，本集
團與大唐控股（包括其關聯公司）同意開展業務方面的合作 ，包括但不限於芯片加工服務 ，期限為三年 ，自2025年1月1日
起至2027年12月31日止 。
以前年度批准並在上交所和港交所披露的全年上限為美元的日常關聯交易 ，本期實際發生額如下：

關聯人

關聯交易內容

大唐控股及其關聯公司

銷售貨物及服務

2026年
交易金額全年上限
（百萬美元）

本期實際發生金額
（百萬美元）

85

11

中芯國際

二零二六年 中報

43

第五節

重要事項

（二）資產收購或股權收購 、出售發生的關聯交易

已在臨時公告披露 ，但有後續實施的進展或變化的事項
事項概述

查詢索引

公司通過發行人民幣股份的方式購買國家集成電路基金 、
北京集成電路製造和裝備股權投資中心（有限合夥）、北
京亦莊國際投資發展有限公司 、中關村發展集團股份有
限公司 、北京工業發展投資管理有限公司合計持有的中
芯北方49.00%股權 。本次交易不構成重大資產重組 ，
不構成重組上市 ，但構成關聯（連）交易 。

詳情請參閱刊登於上交所網站（https://www.sse.com.cn）
日期為2026年2月13日 、2026年2月26日 、2026年5月
12日 、2026年5月22日 、2026年6月13日及2026年6月
25日的相關公告 ，以及刊登於香港聯交所網站（https://
www.hkexnews.hk）日期為2026年2月12日 、2026年2
月25日 、2026年5月11日 、2026年5月21日 、2026年6
月12日及2026年6月24日的相關公告 。

2026年2月12日 ，公司召開臨時股東會審議通過了本次發
行股份購買資產暨關聯交易的相關議案 。
2026年2月25日 ，公司關於發行股份購買資產暨關聯交易
的申請獲得上交所受理 。
2026年5月11日 ，公司關於發行股份購買資產暨關聯交
易事項獲得上海證券交易所併購重組審核委員會審議通
過。
2026年5月21日 ，公司收到中國證監會出具的《關於同意
中芯國際集成電路製造有限公司發行股份購買資產註冊
的批復》。
2026年6月12日 ，北京經濟技術開發區市場監督管理局核
准中芯北方本次交易涉及的工商變更相關事項 ，並向中
芯北方換發了新的《營業執照》，中芯北方49%股權已經
變更登記至公司名下 。
2026年6月23日 ，中國證券登記結算有限責任公司上海分
公司出具了《證券變更登記證明》，公司已辦理完畢本次
發行股份購買資產的新增股份登記 ，新增547,182,073
股普通股（A股）。

四、重大合同及其履行情況
（一）擔保情況
千美元
公司對外擔保情況（不包括對子公司的擔保）
報告期內擔保發生額合計（不包括對子公司的擔保）
報告期末擔保餘額合計(A)（不包括對子公司的擔保）

–
–

公司及其子公司對子公司的擔保情況
報告期內對子公司擔保發生額合計
報告期末對子公司擔保餘額合計(B)

408,461
6,749,846
公司擔保總額情況（包括對子公司的擔保）

擔保總額（A+B）
擔保總額佔歸屬於本公司擁有人的權益的比例(%)
其中：
為股東及其關聯方提供擔保的金額(C)
直接或間接為資產負債率超過70%的被擔保對象提供的債務擔保金額(D)
擔保總額超過歸屬於本公司擁有人的權益50%部分的金額(E)
上述三項擔保金額合計（C+D+E）

44

中芯國際

二零二六年 中報

6,749,846
26.8
–
85,104
–
85,104

第六節 股份變動及股東情況
一、股份變動情況
（一）股份變動情況表

1.

股份變動情況表
單位：股
本次變動前
數量 比例(%)

一 、有限售條件股份
–
1.國有法人持股
–
2.其他內資持股
–
其中：境內非國有法人持股
–
二 、無限售條件流通股份 8,000,408,035
1.人民幣普通股
1,999,562,549
2.境外上市的外資股(2) 6,000,845,486
三 、股份總數
8,000,408,035

–
–
–
–
100.00
24.99
75.01
100.00

本次變動增╱（減）
發行新股 送股 公積金轉股
其他
547,182,073
446,679,243
100,502,830
100,502,830
–
–
–
547,182,073

–
–
–
–
–
–
–
–

–
–
–
–
–
–
–
–
– 13,215,887
–
–
– 13,215,887
– 13,215,887

本次變動後
數量 比例(%)

小計
547,182,073
446,679,243
100,502,830
100,502,830
13,215,887
–
13,215,887
560,397,960

547,182,073
446,679,243
100,502,830
100,502,830
8,013,623,922
1,999,562,549
6,014,061,373
8,560,805,995

6.39
5.22
1.17
1.17
93.61
23.36
70.25
100.00

附註：
(1)

本表格不包含轉融通業務對股份變動的影響 。

(2)

本表格中的境外上市的外資股為於香港聯交所上市的普通股 。

2.

股份變動情況說明

報告期內 ，公司A股股本數量由於公司發行股份購買資產而新增股份547,182,073股；公司港股股本數量由於港股股份激勵
計劃新增股份13,215,887股 。

3.

報告期後到半年報披露日期間發生股份變動對每股收益 、每股權益等財務指標的影響（如有）

於報告期後到半年報披露日期間 ，公司股本數量由於港股股份激勵計劃新增股份原因增加 。該變動對每股收益 、每股淨資
產等財務指標無重大影響 。

（二）限售股份變動情況
單位：股
股東名稱

報告期增加
限售股數

報告期末
限售股數 限售原因

解除限售日期

國家集成電路產業投資基金股份
有限公司
北京集成電路製造和裝備股權投
資中心（有限合夥）
北京亦莊國際投資發展有限公司
中關村發展集團股份有限公司
北京工業發展投資管理有限公司

357,343,396

357,343,396 發行股份購買資產

2027年6月23日

100,502,830

100,502,830 發行股份購買資產

2027年6月23日

64,210,141
12,562,853
12,562,853

64,210,141 發行股份購買資產
12,562,853 發行股份購買資產
12,562,853 發行股份購買資產

2027年6月23日
2027年6月23日
2027年6月23日

合計

547,182,073

547,182,073

（三）購回 、出售或贖回本公司上市證券
本公司及任何子公司於報告期內並無購回 、出售或贖回任何普通股（包括出售庫存股 ，庫存股定義見《香港上市規則》）。於
2026年6月30日 ，本公司並無持有任何庫存股 。

中芯國際

二零二六年 中報

45

第六節

股份變動及股東情況

二、股東情況
（一）股東總數
註冊股東數
截至報告期末普通股股東總數

（註）

296,744

附註：截至本報告期末 ，註冊股東戶數296,744戶中：A股287,089戶 ，港股9,655戶 。

（二）主要股東
於2026年6月30日 ，根據權益披露通知及公開信息 ，以下人士（本公司董事及最高行政人員除外）擁有根據香港證券及期貨
條例第XV章第2及第3部分規定須向本公司披露或根據香港證券及期貨條例第336條規定須記入本公司存置登記冊的5%或以
上已發行股份及相關股份的權益或淡倉：
單位：股

權益總額

權益總額
佔已發行
股本總額的
百分比(1)

– 1,155,513,450

13.50%

–

6.80%

所持普通股數目
股東名稱

好倉╱淡倉

權益性質

中國信息通信科技集團有限公司

好倉

國家集成電路產業投資基金股份有限公司

好倉

實益擁有人╱
受控制法團權益
實益擁有人╱
受控制法團權益

直接持有
72,470,855

間接持有
(2)

1,083,042,595

357,343,396(3)

衍生工具
(2)

224,989,311(3)

582,332,707

附註：
(1)
(2)

基於2026年6月30日已發行普通股8,560,805,995股計算 。
根據中國信科提交的日期為2026年6月26日之權益披露通知 ，中國信科合計持有公司1,155,513,450股 ，其中1,083,042,595股港股
股份由大唐控股（由中國信科全資擁有）的全資附屬公司大唐香港持有 ，72,470,855股A股股份由中國信科直接持有 。

(3)

根 據 國 家 集 成 電 路 基 金 提 交 的 日 期 為 2026 年 6 月 25 日 之 權 益 披 露 通 知 ， 國 家 集 成 電 路 基 金 合 計 持 有 公 司 582,332,707 股 ， 其 中
224,989,311股港股股份由巽鑫（上海）投資有限公司（由國家集成電路基金全資擁有）的全資附屬公司鑫芯香港持有 ，357,343,396股
A股股份由國家集成電路基金直接持有 。

（三）截至報告期末前十名股東 、前十名無限售條件股東持股情況表

前十名股東同時通過普通證券賬戶和證券公司客戶信用交易擔保證券賬戶持股的情形

46

1.

截至本報告期末 ，本公司已發行8,560,805,995股 ，其中於香港聯交所主板已發行6,014,061,373股 ，約佔本公司總
股本70.25%；於上交所科創板已發行2,546,744,622股 ，約佔本公司總股本29.75% 。

2.

本公司港股股東名冊由香港中央證券登記有限公司提供 ，其中HKSCC NOMINEES LIMITED（香港中央結算（代理人）有
限公司）代公司非登記股東名義持有股份 ，約佔本公司港股股份99.78% ，其他登記股東持有股份約佔本公司港股股
份0.22% 。

3.

根據香港《證券及期貨條例》，持有本公司5%或以上任何類別有投票權股份的權益的股東需自行進行權益申報 。根據
股東權益申報情況 ，大唐香港持有港股1,083,042,595股及鑫芯香港持有港股224,989,311股 。公司已將前述股東所
持股份數目從下表HKSCC NOMINEES LIMITED所持股份數目中剔除 。

中芯國際

二零二六年 中報

第六節

股份變動及股東情況
單位：股

股東名稱

前十名股東持股情況（不含通過轉融通出借股份）
包含轉融通
持有
借出股份的 質押 、標記或凍結情況
有限售條件
報告期內增╱
數量
股份數量 限售股份數量 股份狀態
（減） 期末持股數量 比例(%)

HKSCC NOMINEES LIMITED
213,738,237
大唐控股（香港）投資有限公司
(42,000,000)
國家集成電路產業投資基金股份
357,343,396
有限公司
鑫芯（香港）投資有限公司
(157,912,712)
–
華芯投資管理有限責任公司－國家
集成電路產業投資基金二期股份
有限公司
北京集成電路製造和裝備股權投資
100,502,830
中心（有限合夥）
中國信息通信科技集團有限公司
–
北京亦莊國際投資發展有限公司
64,210,141
國新投資有限公司
39,430,200
招商銀行股份有限公司－華夏
(32,131,724)
上證科創板50成份交易型開放式
指數證券投資基金

股東名稱

4,692,939,101
1,083,042,595
357,343,396

54.82
–
–
12.65
–
–
4.17 357,343,396 357,343,396

股東性質

未知
無
無

–
–
–

未知
境外法人
國有法人

224,989,311
127,458,120

2.63
1.49

–
–

無
無

–
–

境外法人
國有法人

100,502,830

1.17 100,502,830 100,502,830

無

–

其他

72,470,855
64,210,141
43,375,773
32,377,586

0.85
–
0.75 64,210,141
0.51
–
0.38
–

無
無
無
質押

–
–
–
1,625,000

–
–

–
64,210,141
–
–

前十名無限售條件股東持股情況（不含通過轉融通出借股份）
持有無限售條件流通
股的數量 種類

股份種類及數量

國有法人
國有法人
國有法人
其他

數量

HKSCC NOMINEES LIMITED
4,692,939,101 境外上市外資股 4,692,939,101
大唐控股（香港）投資有限公司
1,083,042,595 境外上市外資股 1,083,042,595
鑫芯（香港）投資有限公司
224,989,311 境外上市外資股
224,989,311
華芯投資管理有限責任公司－國家集成電路產業投資基金
127,458,120 人民幣普通股
127,458,120
二期股份有限公司
中國信息通信科技集團有限公司
72,470,855 人民幣普通股
72,470,855
國新投資有限公司
43,375,773 人民幣普通股
43,375,773
招商銀行股份有限公司－華夏上證科創板50成份交易型開放
32,377,586 人民幣普通股
32,377,586
式指數證券投資基金
中信證券股份有限公司－嘉實上證科創板芯片交易型開放式
30,760,679 人民幣普通股
30,760,679
指數證券投資基金
中國工商銀行股份有限公司－易方達上證科創板50成份交易
19,795,620 人民幣普通股
19,795,620
型開放式指數證券投資基金
中國建設銀行股份有限公司－華夏國證半導體芯片交易型
15,483,752 人民幣普通股
15,483,752
開放式指數證券投資基金
上述股東關聯關係或一致行動的說明
1. 大唐香港為中國信科的全資子公司 。
2. 鑫芯香港為國家集成電路基金的全資子公司 。
3. 國家集成電路基金的董事張新 、徐文立 、唐雪峰 、楊
高峰同時擔任國家集成電路基金二期的董事；監事秦斌 、
盧偉同時擔任國家集成電路基金二期的監事 。
4. 華芯投資管理有限責任公司作為基金管理人根據各自的
委託管理協議分別對國家集成電路基金 、國家集成電路基
金二期進行管理 。
5. 國家集成電路基金和國家集成電路基金二期有部分相同
股東 。
除此之外 ，公司不知悉上述其他股東是否存在關聯關係或
一致行動關係 。

中芯國際

二零二六年 中報

47

第六節

股份變動及股東情況

（四）前十名有限售條件股東持股數量及限售條件
單位：股
持有的有限售
條件股份數量

有限售條件股份
可上市交易情況
新增可上市
可上市交易時間 交易股份數量 限售條件

357,343,396

2027年6月23日

–

100,502,830

2027年6月23日

–

64,210,141

2027年6月23日

–

中關村發展集團股份有限公司

12,562,853

2027年6月23日

–

北京工業發展投資管理有限公司

12,562,853

2027年6月23日

–

序號

有限售條件股東名稱

1

3

國家集成電路產業投資基金股份
有限公司
北京集成電路製造和裝備股權
投資中心（有限合夥）
北京亦莊國際投資發展有限公司

4
5

2

發行股份購買資產新增股份 ，
限售期12個月
發行股份購買資產新增股份 ，
限售期12個月
發行股份購買資產新增股份 ，
限售期12個月
發行股份購買資產新增股份 ，
限售期12個月
發行股份購買資產新增股份 ，
限售期12個月

（五）戰略投資者或一般法人因配售新股╱存託憑證成為前十名股東
戰略投資者或一般法人的名稱

約定持股起始日期

國家集成電路產業投資基金二期股份有限公司
中國信息通信科技集團有限公司
戰略投資者或一般法人參與配售新股約定持股期限的說明

2020年7月16日
無
2020年7月16日
無
限售期限為自首次公開發行股票並在上海證券交易所科創
板上市之日起十二個月內 。

約定持股終止日期

三、董事、高級管理人員和核心技術人員情況
（一）現任及報告期內離任董事 、高級管理人員和核心技術人員A股持股變動情況
姓名

職務

閻大勇

副總裁 、核心技術人員

期初持股數

期末持股數

報告期內
股份增減變動量

增減變動原因

28,000

–

(28,000)

二級市場買賣

（二）董事 、高級管理人員和核心技術人員報告期內被授予的股份激勵情況

董事及最高行政人員購股權
2014年購股權計劃－港股

1.
(1)

單位：股

姓名

職務

趙海軍

聯合首席執行官

梁孟松

聯合首席執行官

購股權
授出日期

授出日每股
行權價格
（港元）

於2026年
1月1日
持有（尚未
行權）數量

9/7/2017
5/25/2020
5/31/2021
5/25/2020

7.90
18.10
24.50
18.10

1,687,500
219,706
277,149
659,117

–
–
–
–

–
–
–
–

–
–
–
–

–
–
–
–

2,843,472

–

–

–

–

合計

48

中芯國際

二零二六年 中報

報告期
新授予數量

報告期
失效數量

報告期
註銷數量

報告期
行權數量

緊接行權日期前
港股加權平均
收市價（港元）
–
–
–
–

於2026年
緊接授出
6月30日
持有（尚未 日期前港股
行權）數量 收市價（港元） 權利行使期間
1,687,500
219,706
277,149
659,117
2,843,472

7.83
16.92
24.15
16.92

9/7/2017-9/6/2027
5/25/2020-5/24/2030
5/31/2021-5/30/2031
5/25/2020-5/24/2030

第六節
2.
(1)

股份變動及股東情況
董事及最高行政人員受限制股份單位
2014年以股支薪獎勵計劃－港股
單位：股

姓名

職務

受限制
股份單位
授出日期

吳漢明
趙海軍
梁孟松

獨立非執行董事
聯合首席執行官
聯合首席執行官

9/5/2022
4/8/2022
4/8/2022

於2026年 緊接授出日期
6月30日 前港股收市價
持有數量
（港元） 權利行使期間

–
–
–

94,350
–
–

–

94,350

每股
購買價格
（港元）

於2026年
1月1日
持有數量

於2026年
1月1日
尚未歸屬

0.031
0.031
0.031

94,350
100,385
100,385

–
100,385
100,385

–
–
–

–
–
–

–
–
–

–
100,385
100,385

295,120

200,770

–

–

–

200,770

合計

(2)

於2026年
緊接歸屬日期前 6月30日
報告期 港股加權平均 尚未歸屬
歸屬數量 收市價（港元）
數量

報告期
新授予數量

報告期
失效數量

報告期
註銷數量

–
68.00
68.00

15.00 8/11/2022-8/11/2025
16.80 3/1/2022-3/1/2026
16.80 3/1/2022-3/1/2026

2024年股份獎勵計劃－港股
單位：股

姓名

職務

劉訓峰

董事長、執行董事

趙海軍

聯合首席執行官

梁孟松

聯合首席執行官

合計

於2026年
緊接歸屬日期前 6月30日
報告期 港股加權平均 尚未歸屬
歸屬數量 收市價（港元）
數量

於2026年 緊接授出日期
6月30日 前港股收市價
持有數量
（港元） 歸屬期間

–
24,875
58,992
–
14,912
40,091
–
14,912
40,091

49,387
105,298
117,983
–
14,912
40,091
–
14,912
40,091

193,873

382,674

限制性
股票單位
授出日期

每股
授出代價
（港元）

於2026年
1月1日
持有數量

於2026年
1月1日
尚未歸屬

報告期
新授予數量

報告期
失效數量

報告期
註銷數量

4/1/2024
4/1/2025
4/1/2026
4/1/2024
4/1/2025
4/1/2026
4/1/2024
4/1/2025
4/1/2026

0.031
0.031
0.031
0.031
0.031
0.031
0.031
0.031
0.031

106,308
124,377
–
45,405
37,281
–
45,405
37,281
–

49,387
62,188
–
45,405
37,281
–
45,405
37,281
–

–
–
117,983
–
–
80,181
–
–
80,181

–
–
–
–
–
–
–
–
–

–
–
–
–
–
–
–
–
–

49,387
37,313
58,991
45,405
22,369
40,090
45,405
22,369
40,090

396,057

276,947

278,345

–

–

361,419

50.70
50.70
50.70
50.70
50.70
50.70
50.70
50.70
50.70

15.16
46.10
50.70
15.16
46.10
50.70
15.16
46.10
50.70

4/1/2024-4/1/2026
4/1/2025-4/1/2027
4/1/2026-4/1/2028
4/1/2024-4/1/2026
4/1/2025-4/1/2027
4/1/2026-4/1/2028
4/1/2024-4/1/2026
4/1/2025-4/1/2027
4/1/2026-4/1/2028

附註： 報告期內授予的受限制股份單位的業績目標 、授予日的公允價值及採用的會計準則及政策請參見「第四節 公司治理 、環境和社會」中
的「五 、公司股份激勵計劃 、員工持股計劃或其他員工激勵措施的情況及其影響」。

中芯國際

二零二六年 中報

49

第六節

股份變動及股東情況

（三）依《香港上市規則》要求披露的董事和最高行政人員的利益和權益
於2026年6月30日 ，董事及最高行政人員持有有關本公司或其相聯法團（定義見香港證券及期貨條例第XV章）股份 、相關股
份及債權證且須按照香港證券及期貨條例第XV章第7及第8部分通知本公司及聯交所的權益或淡倉（包括根據香港證券及期
貨條例條文當作或視為擁有的權益或淡倉），及記錄於根據香港證券及期貨條例第352條規定存置登記冊或按照上市發行人
董事進行證券交易的標準守則須通知本公司及香港聯交所的權益或淡倉如下：

董事姓名
執行董事
劉訓峰
非執行董事
魯國慶
陳山枝
楊魯閩
黃登山
獨立非執行董事
范仁達
劉明
吳漢明
陳信元
聯合首席執行官
趙海軍
梁孟松

權益總額
（股）

權益總額佔
本公司已發行
股本總額的
百分比 (1)
（%）

272,668

489,296

0.006

–
–
–
–

–
–
–
–

–
–
–
–

–
–
–
–

405,754
83,908
91,575
–

–
–
–
–

–
–
94,350
–

405,754
83,908
185,925
–

0.005
0.001
0.002
–

619,924
646,331

2,184,355
659,117

55,003
55,003

2,859,282
1,360,451

0.033
0.016

衍生工具
受限制股份單位
購股權
（港股）(2)
（港股）(2)

好倉╱淡倉 權益性質

持有
普通股數
目

好倉

實益擁有人

216,628

–

–
–
–
–

–
–
–
–

–
–
–
–

好倉
好倉
好倉
–

實益擁有人
實益擁有人
實益擁有人
–

好倉
好倉

實益擁有人
實益擁有人

附註：
(1)

基於截至2026年6月30日已發行8,560,805,995股股份計算 。

(2)

截至2026年6月30日 ，董事和聯合首席執行官擁有的本公司證券權益全部為港股權益 ，其中購股權（港股）及受限制股份單位（港股）
詳情請參閱本節內容之「2014年購股權計劃－港股」、「2014年以股支薪獎勵計劃－港股」和「2024年股份獎勵計劃－港股」。

50

中芯國際

二零二六年 中報

第七節 財務報告
中芯國際集成電路製造有限公司
簡明合併損益及其他綜合收益表
截至2026年6月30日止六個月
（以千美元計值 ，每股數據除外）
截至6月30日止六個月

收入
銷售成本
毛利
研究及開發開支
銷售及市場推廣開支
一般及行政開支
金融資產減值虧損淨額
其他經營收入
經營利潤
利息收入
財務費用
匯兌收益
其他收益╱（虧損），淨額
應佔聯營企業與合營企業損益

附註

2026年

2025年

4

5,511,075
(4,246,832)

4,456,267
(3,500,600)

1,264,243
(395,619)
(23,764)
(238,170)
3,869
171,412

955,667
(330,811)
(24,301)
(338,211)
(742)
198,646

781,971
132,277
(179,273)
61,964
70,123
198,355

460,248
222,787
(167,155)
16,067
(1,186)
(21,083)

5

6
7

除稅前利潤
所得稅開支

8

1,065,417
(101,286)

509,678
(39,575)

期內利潤

9

964,131

470,103

其他綜合收益
其後期間或會重新歸類為損益的項目
外幣報表折算差異
現金流量套期

19

44,359
(30,595)

5,774
86,013

期內綜合收益總額

977,895

561,890

以下各方應佔期內利潤：
本公司擁有人
非控制性權益

676,645
287,486

320,522
149,581

964,131

470,103

690,407
287,488

412,305
149,585

977,895

561,890

0.08美元
0.08美元

0.04美元
0.04美元

以下各方應佔期內綜合收益總額：
本公司擁有人
非控制性權益

每股盈利
基本
攤薄

10
10

中芯國際

二零二六年 中報

51

中芯國際集成電路製造有限公司
簡明合併財務狀況表
於2026年6月30日
（以千美元計值）
附註

於2026年6月30日

於2025年12月31日

12
13

33,075,656
363,739
23,884
2,501,476
82
37,747
1,359,264
1,065,898
3,405

32,557,778
374,956
20,397
1,309,570
79
35,212
810,501
1,532,265
5,521

38,431,151

36,646,279

4,360,884
77,586
1,512,779
85,206
4,489,496
22,916
8,216,015

3,629,802
67,518
1,432,684
380,857
4,150,600
87,151
5,872,500

分類為持有待售資產

18,764,882
3,917

15,621,112
3,917

流動資產總額

18,768,799

15,625,029

總資產

57,199,950

52,271,308

資產
非流動資產
不動產 、廠房及設備
使用權資產
無形資產
於聯營企業的投資
於合營企業的投資
遞延稅項資產
以公允價值計量且其變動計入損益的金融資產
以攤餘成本計量的金融資產
其他資產

14
14

非流動資產總額

流動資產
存貨
預付款及預付經營開支
貿易及其他應收款項
以公允價值計量且其變動計入損益的金融資產
以攤餘成本計量的金融資產
衍生金融工具
現金及現金等價物

52

中芯國際

二零二六年 中報

16
17
14
14
14
15

中芯國際集成電路製造有限公司
簡明合併財務狀況表
於2026年6月30日
（以千美元計值）
附註

於2026年6月30日

於2025年12月31日

18

34,243
20,425,807
(2,845,417)
7,534,851

32,002
14,394,785
154,677
6,858,206

本公司擁有人應佔權益
非控制性權益

25,149,484
12,707,904

21,439,670
13,580,853

總權益

37,857,388

35,020,523

8,867,616
561
119,346
337,847

9,994,773
838
60,207
377,903

9,325,370

10,433,721

3,465,891
768,461
5,150,096
684
183,443
434,662
11,075
2,880

2,965,981
599,378
2,593,077
7,493
188,930
409,749
18,994
33,462

流動負債總額

10,017,192

6,817,064

總負債

19,342,562

17,250,785

權益及負債合計

57,199,950

52,271,308

權益及負債
股本及儲備
普通股
股份溢價
其他儲備
保留盈餘

非流動負債
借款
租賃負債
遞延稅項負債
遞延收益

19

20

非流動負債總額

流動負債
貿易及其他應付款項
合同負債
借款
租賃負債
遞延收益
預提負債
衍生金融工具
流動稅項負債

21
20

14

中芯國際

二零二六年 中報

53

中芯國際集成電路製造有限公司
簡明合併權益變動表
截至2026年6月30日止六個月
（以千美元計值）

(1)

54

普通股
（附註18）

股份溢價

以權益結算的
僱員福利儲備

外幣報表
折算儲備

於2025年1月1日
期內利潤
期內其他綜合收益

31,905
–
–

14,266,359
–
–

68,618
–
–

(145,800)
–
5,770

期內綜合收益總額

–

–

–

5,770

就股份激勵計劃發行股份
股權報酬
應佔聯營企業其他資本儲備
非控制性權益的資本注資
子公司中的權益稀釋
向非控制性權益分配

39
–
–
–
–
–

31,961
–
–
–
–
–

(20,893)
17,364
–
–
–
–

–
–
–
–
–
–

小計

39

31,961

(3,529)

–

於2025年6月30日

31,944

14,298,320

65,089

(140,030)

於2026年1月1日
期內利潤
期內其他綜合收益

32,002
–
–

14,394,785
–
–

12,369
–
–

(113,061)
–
44,357

期內綜合收益總額

–

–

–

44,357

發行普通股
股份發行費用
取得非控制性權益
就股份激勵計劃發行股份
股權報酬
應佔聯營企業其他資本儲備
非控制性權益的資本注資
子公司中的權益稀釋

2,189
–
–
52
–
–
–
–

5,958,978
(1,182)
–
73,226
–
–
–
–

–
–
–
(71,927)
114,753
–
–
–

–
–
–
–
–
–
–
–

小計

2,241

6,031,022

42,826

–

於2026年6月30日

34,243

20,425,807

55,195

該等儲備賬目組成了合併財務狀況表中的其他儲備-2,845,417千美元（2025年12月31日：154,677千美元）。

中芯國際

二零二六年 中報

(1)

(68,704)(1)

中芯國際集成電路製造有限公司
簡明合併權益變動表
截至2026年6月30日止六個月
（以千美元計值）
現金流量
套期儲備
（附註19）

其他

保留盈餘

本公司擁有人
應佔權益

非控制性權益

總權益

(78,269)
–
86,013

297,921
–
–

6,173,075
320,522
–

20,613,809
320,522
91,783

11,255,849
149,581
4

31,869,658
470,103
91,787

86,013

–

320,522

412,305

149,585

561,890

–
–
–
–
–
–

–
–
5,029
–
(4,092)
–

–
–
–
–
–
–

11,107
17,364
5,029
–
(4,092)
–

–
2,141
–
276,899
4,092
(2,314)

11,107
19,505
5,029
276,899
–
(2,314)

–

937

–

29,408

280,818

310,226

7,744

298,858

6,493,597

21,055,522

11,686,252

32,741,774

49,311
–
(30,595)

206,058
–
–

6,858,206
676,645
–

21,439,670
676,645
13,762

13,580,853
287,486
2

35,020,523
964,131
13,764

(30,595)

–

676,645

690,407

287,488

977,895

–
–
–
–
–
–
–
–

–
–
(2,974,291)
–
(58,461)
(1,960)
–
(21,970)

–
–
–
–
–
–
–
–

5,961,167
(1,182)
(2,974,291)
1,351
56,292
(1,960)
–
(21,970)

–
–
(2,986,876)
–
11,755
–
1,792,714
21,970

5,961,167
(1,182)
(5,961,167)
1,351
68,047
(1,960)
1,792,714
–

(3,056,682)

–

3,019,407

(1,160,437)

1,858,970

(2,850,624)

7,534,851

25,149,484

12,707,904

37,857,388

–
18,716

(1)

(1)

中芯國際

二零二六年 中報

55

中芯國際集成電路製造有限公司
簡明合併現金流量表
截至2026年6月30日止六個月
（以千美元計值）
截至6月30日止六個月

56

2026年

2025年

經營活動
經營所得現金
已付利息
已收利息
已付所得稅

3,062,717
(124,876)
341,891
(72,631)

779,150
(106,382)
254,062
(17,573)

經營活動所得現金淨額

3,207,101

909,257

投資活動
取得以公允價值計量且其變動計入損益的金融資產
出售以公允價值計量且其變動計入損益的金融資產所得款項
取得以攤餘成本計量的金融資產
以攤餘成本計量的金融資產到期所得款項
取得不動產 、廠房及設備
出售不動產 、廠房及設備及分類為持有待售資產所得款項
取得無形資產
出售土地使用權所得款項
對聯營企業的注資
出售聯營企業與合營企業股權所得╱（所付）款項
收取聯營企業的股息
結算衍生金融工具所得款項

(582,387)
376,528
(1,907,663)
1,921,885
(2,853,006)
1,698
(6,384)
–
(957,586)
34,156
1,333
3,587

(204,751)
389,648
(1,301,067)
1,745,503
(3,418,553)
12,741
–
5,168
(77,776)
(51,028)
1,794
11,192

投資活動所用現金淨額

(3,967,839)

(2,887,129)

融資活動
借款所得款項
償還借款
償還租賃負債本金部分
償還債券
就股份激勵計劃發行股份所得款項
非控制性權益的資本注資
結算衍生金融工具所得款項
向非控制性權益分配

2,511,071
(1,491,884)
(7,117)
–
1,351
1,792,714
166,307
–

2,628,543
(1,708,486)
(10,302)
(600,000)
11,107
276,899
8,824
(2,314)

融資活動所得現金淨額

2,972,442

604,271

現金及現金等價物增加╱（減少）淨額
期初現金及現金等價物
匯率變動對現金及現金等價物的影響

2,211,704
5,872,500
131,811

(1,373,601)
6,364,189
92,087

期末現金及現金等價物

8,216,015

5,082,675

中芯國際

二零二六年 中報

簡明合併財務報表附註
截至2026年6月30日止六個月

1. 一般資料
本公司為根據開曼群島法例於2000年4月3日註冊成立的公司 。本公司的普通股分別在香港聯合交易所有限公司主板及上交
所科創板上市 。註冊地址為Cricket Square, Hutchins Drive, P.O. Box 2681, Grand Cayman, KY1-1111 Cayman Islands 。
本公司為投資控股公司 。本公司的子公司主要經營半導體（硅片及各類化合物半導體）集成電路晶圓的製造及測試 ，提供與
集成電路有關的開發 、設計及技術服務 ，光掩模製造 ，測試及銷售自產產品 ，以及其他服務 。

2. 編製基準
本集團之未經審核簡明合併財務報表乃根據由國際會計準則理事會頒佈的國際會計準則第34號「中期財務報告」，以及香港
上市規則附錄16的適用披露規定編製 。中期簡明合併財務報表應與本集團根據《國際財務報告會計準則》所編製截至2025年
12月31日止年度的年度合併財務報表一併閱讀 。

3. 會計政策的變動及披露
編製中期簡明合併財務資料所採用的會計政策與編製本集團截至2025年12月31日止年度的年度合併財務報表所採用的會計
政策一致 ，但本期財務資料首次採用以下經修訂國際財務報告會計準則除外 。
國際財務報告準則第9號和
國際財務報告準則第7號的修訂
國際財務報告準則第9號和
國際財務報告準則第7號的修訂
國際財務報告會計準則年度改進－第11卷

金融工具分類和計量的修訂
涉及依賴自然能源生產電力的合同
對國際財務報告準則第1號 、國際財務報告準則第7號 、國際財務報告
準則第9號 、國際財務報告準則第10號和國際會計準則第7號的修訂

經修訂國際財務報告會計準則的性質和影響如下所述：
對國際財務報告準則第9號和國際財務報告準則第7號金融工具分類和計量修訂 的修訂闡明了金融資產在企業收取合同現金
流量的權利到期或被轉讓時終止確認 ，而金融負債則在結算日終止確認 。該等修訂引入了一項會計政策選擇 ，在滿足特定
標準的情況下 ，終止確認在結算日期之前通過電子支付系統結算的金融負債 。該等修訂釐清了如何評估具有環境 、社會和
治理以及其他類似或有特徵的金融資產的合同現金流特徵 。此外 ，該等修訂釐清了對具有無追索權特徵的金融資產和合同
掛鈎工具進行分類的要求 。該等修訂還包括對指定以公允價值計量且其變動計入其他綜合收益的權益工具和具有或有特徵
的金融工具的投資的額外披露 。由於本集團過往年度關於金融資產及金融負債終止確認的會計政策與該等修訂一致 ，且本
集團並未持有該等修訂所涵蓋的金融資產 ，因此該等修訂對中期簡明合併財務資料並無任何影響 。本集團將在截至2026年
12月31日止年度的合併財務報表中 ，針對指定為按公允價值計量且其變動計入其他綜合收益的權益投資提供額外披露 。
對國際財務報告準則第9號和國際財務報告準則第7號涉及依賴自然能源生產電力的合同 的修訂 ，澄清範圍內合同「自用」規
定的應用 ，並修訂範圍內合同現金流量對沖關係中被對沖項目的指定規定 。該等修訂亦包括額外披露 ，使財務報表使用者
能夠了解該等合同對實體財務表現及未來現金流量的影響 。由於本集團並無屬於該等修訂適用範圍的合同 ，因此該等修訂
對中期簡明合併財務資料未產生任何影響 。

國際財務報告會計準則的年度改進－第11卷 對國際財務報告準則第1號 、第7號（以及隨附的國際財務報告準則第7號實施指
引 ）、第9號 、第10號和國際會計準則第7號進行了小範圍修訂 。該等修訂包括旨在提高相關國際財務報告會計準則一致性的
澄清 、簡化 、更正或變更 。該等修訂對中期簡明合併財務資料未產生任何影響 。

中芯國際

二零二六年 中報

57

簡明合併財務報表附註
截至2026年6月30日止六個月

4. 分部資料及收入
分部詳情

出於管理需要 ，本集團營運一個業務分部 ，主要從事製造及銷售集成電路 。管理層作出高層戰略決定並審閱本集團的合併
業績 。

客戶合約收入的分解

本集團來自客戶的經營業務收入詳列如下：
截至6月30日止六個月

以地區分類
中國區
美國區
歐亞區

以商品或服務種類分類
晶圓
光掩模 、測試及其他

以確認收入的時間分類
於一個時點移交貨品
於一段時間提供服務

2026年
千美元

2025年
千美元

4,938,357
479,870
92,848

3,752,855
566,997
136,415

5,511,075

4,456,267

5,196,844
314,231

4,228,551
227,716

5,511,075

4,456,267

5,510,876
199

4,443,580
12,687

5,511,075

4,456,267

5. 其他經營收入
截至6月30日止六個月

政府資金
其他

2026年
千美元

2025年
千美元

154,083
17,329

173,820
24,826

171,412

198,646

6. 財務費用
截至6月30日止六個月

利息開支：
銀行借款
租賃
企業債券
現金流量套期

58

中芯國際

二零二六年 中報

2026年
千美元

2025年
千美元

114,300
73
–
64,900

102,209
207
2,821
61,918

179,273

167,155

簡明合併財務報表附註
截至2026年6月30日止六個月

7. 其他收益╱（虧損），淨額
截至6月30日止六個月
2026年
千美元

2025年
千美元

金融資產的公允價值收益╱（虧損）淨額及分紅收益：
結構性存款及貨幣基金
權益工具

2,041
38,785

3,883
(4,785)

視同處置聯營企業的收益(1)
其他

40,826
27,192
2,105

(902)
1,103
(1,387)

70,123

(1,186)

(1)

視同處置聯營企業的收益 ，反映了因其他投資者向聯營企業注資而導致本集團在聯營企業中的股權被稀釋的影響 。

8. 所得稅開支
截至6月30日止六個月

當期稅項
－土地增值稅
－企業所得稅
遞延稅項

2026年
千美元

2025年
千美元

–
46,689
54,597

3,535
47,758
(11,718)

101,286

39,575

所得稅稅率

本公司於開曼群島註冊成立 ，目前無需於當地繳稅 。本集團中國大陸實體適用的企業所得稅稅率如下：
根據中華人民共和國稅收法規 ，一般企業所得稅率為25% 。本公司部份子公司符合高新技術企業標準 ，於2026年享受優惠
企業所得稅率 ，即為15% 。

支柱二所得稅
通過評估並考慮2026年本集團各組成實體所在稅務管轄區過渡性安全港測試減免 ，預計支柱二所得稅不會對本集團產生重
大風險 。

中芯國際

二零二六年 中報

59

簡明合併財務報表附註
截至2026年6月30日止六個月

9. 期內利潤
期內利潤經扣除╱（計入）以下各項：
截至6月30日止六個月

不動產 、廠房及設備折舊
使用權資產折舊
無形資產攤銷
已確認之存貨減值虧損
貿易及其他應收款項呆賬撥備（撥回）╱增加
以權益結算的股份支付開支

2026年
千美元

2025年
千美元

2,285,747
11,217
2,896
24,142
(3,869)
68,047

1,725,627
14,516
4,237
32,273
742
19,505

10. 每股盈利
每股基本盈利

用作計算每股基本盈利的盈利及普通股加權平均數如下：
（以千美元計值 ，股份及每股數據除外）
截至6月30日止六個月

用作計算每股基本盈利的盈利
用作計算每股基本盈利的普通股加權平均數（股）
每股基本盈利

2026年

2025年

676,645
8,027,718,260

320,522
7,982,403,484

0.08美元

0.04美元

每股攤薄盈利

用作計算每股攤薄盈利的盈利及普通股加權平均數如下：
（以千美元計值 ，股份及每股數據除外）
截至6月30日止六個月
2026年

2025年

676,645

320,522

用作計算每股基本盈利的普通股加權平均數（股）
就股份激勵計劃作出調整（股）

8,027,718,260
10,431,202

7,982,403,484
23,164,671

用作計算每股攤薄盈利的普通股加權平均數（股）

8,038,149,462

8,005,568,155

0.08美元

0.04美元

用作計算每股攤薄盈利的盈利

每股攤薄盈利

11. 股息
董事會並不建議派付截至2026年6月30日止六個月股息（截至2025年6月30日止六個月：無）。

60

中芯國際

二零二六年 中報

簡明合併財務報表附註
截至2026年6月30日止六個月

12. 不動產 、廠房及設備
截至6月30日止六個月
2026年
千美元

2025年
千美元

於1月1日
添置
折舊
出售及其他

32,557,778
3,524,000
(2,285,747)
(720,375)

28,092,037
3,447,228
(1,725,627)
(1,322)

於6月30日

33,075,656

29,812,316

2026年6月30日
千美元

2025年12月31日
千美元

1,188
–
362,551

1,596
6,533
366,827

363,739

374,956

2026年6月30日
千美元

2025年12月31日
千美元

28
1,359,236

29
810,472

1,065,898

1,532,265

25,713
59,493

323,806
57,051

4,489,496

4,150,600

8,216,015
1,111,184

5,872,500
962,871

20,582
2,334

84,151
3,000

16,349,979

13,796,745

13. 租賃
本集團期內使用權資產的賬面價值情況如下：

樓宇
機器及設備
土地使用權

截至2026年6月30日止六個月 ，使用權資產無新增（截至2025年6月30日止六個月：無）。

14. 金融資產及金融負債
本集團持有以下金融工具：

金融資產
非流動部分
以公允價值計量且其變動計入損益的金融資產
權益工具－上市公司
權益工具－非上市公司
以攤餘成本計量的金融資產
超過一年到期的銀行存款
流動部分
以公允價值計量且其變動計入損益的金融資產
結構性存款
貨幣基金
以攤餘成本計量的金融資產
超過三個月且一年內到期的銀行存款
其他以攤餘成本計量的金融資產
現金及現金等價物
計入貿易及其他應收款項的金融資產（1）
（附註17）
衍生金融工具
交叉貨幣掉期合約－現金流量套期
遠期外匯合約－現金流量套期

(1)

計入貿易及其他應收款項的金融資產不包括待抵扣增值稅及可收回稅項 。

中芯國際

二零二六年 中報

61

簡明合併財務報表附註
截至2026年6月30日止六個月

14. 金融資產及金融負債
（續）
2026年6月30日
千美元

2025年12月31日
千美元

8,867,616
561

9,994,773
838

3,448,711
5,150,096
684

2,946,616
2,593,077
7,493

10,978
97

18,994
–

17,478,743

15,561,791

2026年6月30日
千美元

2025年12月31日
千美元

現金及銀行結餘
於獲得時原到期日少於三個月的非抵押定期存款

8,061,455
154,560

5,744,303
128,197

財務狀況表及現金流量表中所列現金及現金等價物

8,216,015

5,872,500

2026年6月30日
千美元

2025年12月31日
千美元

5,547,375
1,871,063
626,739
150,131
19,494
1,213

4,305,282
866,228
537,257
148,122
14,414
1,197

8,216,015

5,872,500

2026年6月30日
千美元

2025年12月31日
千美元

2,025,829
1,905,374
429,681

1,786,581
1,490,075
353,146

4,360,884

3,629,802

金融負債
非流動部分
以攤餘成本計量的金融負債
借款（附註20）
租賃負債
流動部分
以攤餘成本計量的金融負債
計入貿易及其他應付款項以及預提負債的金融負債
借款（附註20）
租賃負債
衍生金融工具
交叉貨幣掉期合約－現金流量套期
遠期外匯合約－現金流量套期

15. 現金及現金等價物
現金及現金等價物結餘分析

現金及現金等價物中持有的貨幣幣種

人民幣
美元
日元
歐元
港元
新台幣

16. 存貨

原料
在製品
製成品

62

中芯國際

二零二六年 中報

簡明合併財務報表附註
截至2026年6月30日止六個月

17. 貿易及其他應收款項

貿易應收款項
貿易應收款項呆賬撥備

2026年6月30日
千美元

2025年12月31日
千美元

1,045,183
(1,262)

881,991
(5,231)

1,043,921

876,760

8,283
(328)

7,773
(275)

7,955

7,498

38,062
388,012
13,583
9,701
–
11,545

44,523
458,582
11,231
14,790
1,486
17,814

1,512,779

1,432,684

2026年6月30日
千美元

2025年12月31日
千美元

949,735
95,166
79
192
11

794,937
82,237
4,611
183
23

1,045,183

881,991

其他應收款項
其他應收款項呆賬撥備

應收票據
待抵扣增值稅
可收回稅項
應收投資兌付款
應收股利
可退回按金及抵押

以下為於本報告期末基於發票日期呈列的貿易應收款項賬齡分析 。

貿易應收款項賬齡
未逾期
1年以內
1至2年
2至3年
3年以上

貿易應收款項為於正常業務過程中出售貨品或提供服務而應收客戶的款額 。貿易應收款項一般於30至90天內結清 。貿易應
收款項初始以無條件的代價款額確認 ，惟倘其包含重大融資成份則除外 ，在此情況下則以公允價值確認 。本集團持有貿易
應收款項 ，目的為收取合約現金流 ，因此使用實際利率法以攤餘成本計量 。本集團並無就其貿易應收款項結餘持有任何抵
押品或其他信用增級 。
以下為於本報告期末其他應收款項賬齡分析 。

其他應收款項賬齡

2026年6月30日
千美元

2025年12月31日
千美元

7,533
20
667
63

7,073
609
60
31

8,283

7,773

1年以內
1至2年
2至3年
3年以上

鑒於流動應收款項的短期性質 ，貿易及其他應收款項的賬面價值被視為與其公允價值相同 。

中芯國際

二零二六年 中報

63

簡明合併財務報表附註
截至2026年6月30日止六個月

18. 股份及已發行股本
截至2026年6月30日止六個月
數目
千美元

截至2025年6月30日止六個月
數目
千美元

於1月1日
就股份激勵計劃發行股份
發行股份購買非控制性權益

8,000,408,035
13,215,887
547,182,073

32,002
52
2,189

7,976,149,966
9,912,477
–

31,905
39
–

於6月30日

8,560,805,995

34,243

7,986,062,443

31,944

19. 其他儲備
現金流量套期儲備

為減輕與未償還債務有關的匯率及利率變動對未來現金流量波動的影響 ，本集團訂立若干交叉貨幣掉期合約 、利率掉期合
約和遠期外匯合約（被指定為套期工具）
。該等套期工具的公允價值變動產生之任何盈虧直接記入損益表 ，惟現金流量套期之
有效部分除外 ，其於其他綜合收益╱（虧損）確認 ，並於其後套期項目影響損益時重分類至損益 。
套期儲備用作記錄被指定及符合條件可列為現金流量套期並於其他綜合收益確認的衍生工具的收益或虧損 。在相關對沖交
易影響損益時 ，金額將重分類至損益 。
截至6月30日止六個月
2026年
千美元

2025年
千美元

確認的現金流量套期之其他綜合收益
公允價值收益
抵銷匯兌（虧損）╱收益
增加財務費用
遞延稅項負債

150,365
(234,079)
53,176
(57)

18,833
18,717
46,795
1,668

於1月1日

(30,595)
49,311

86,013
(78,269)

於6月30日

18,716

7,744

其他

其他變動主要是由於發行普通股購買非控制性權益所致 。代價超出非控制性權益部分使其他儲備減少2,974,291千美元 。

64

中芯國際

二零二六年 中報

簡明合併財務報表附註
截至2026年6月30日止六個月

20. 借款
2026年6月30日
千美元

2025年12月31日
千美元

短期銀行借款（無擔保）

2,129,459

490,710

長期銀行借款（有擔保）－保證貸款
長期銀行借款（無擔保）

6,749,846
5,138,407

6,662,227
5,434,913

14,017,712

12,587,850

2,129,459
3,020,637

490,710
2,102,367

5,150,096

2,593,077

8,867,616

9,994,773

14,017,712

12,587,850

5,150,096
632,466
1,775,139
6,460,011

2,593,077
1,790,459
1,437,005
6,767,309

14,017,712

12,587,850

12,729,007
1,288,705

12,097,140
490,710

14,017,712

12,587,850

8,859,703
5,158,009

6,606,218
5,981,632

14,017,712

12,587,850

2026年6月30日
千美元

2025年12月31日
千美元

1.79%
3.84%

1.74%
3.84%

以攤餘成本

流動部分
短期銀行借款
一年內到期的長期銀行借款

非流動部分
期限在一年以上的長期銀行借款

借款償還期間
1年以內
1至2年
2至5年
5年以上

借款以幣種分類
人民幣
美元

借款以利率類型分類
固定利率
浮動利率

借款之加權平均實際利率載列如下：

人民幣
美元
上述利率不含套期工具的影響 。
截至2026年6月30日 ，無質押貸款（2025年12月31日：無）由銀行存款質押擔保 。

借款的公允價值與其賬面價值相近 ，因為相關借款的應付利率接近當前市場利率 ，或者該等借款屬於短期性質 。

中芯國際

二零二六年 中報

65

簡明合併財務報表附註
截至2026年6月30日止六個月

21. 貿易及其他應付款項
2026年6月30日
千美元

2025年12月31日
千美元

2,056,204
913,461
244,742
40,331
211,153

1,633,573
830,042
291,743
19,301
191,322

3,465,891

2,965,981

應付不動產 、廠房及設備款項
貿易應付款項
收取按金
應付票據
其他

貿易及其他應付款項為不計息 ，且還款期限一般為30至60天 。
以下為於報告期末基於發票日期呈列的貿易應付款項 、應付票據及應付不動產 、廠房及設備款項賬齡分析：
2026年6月30日
千美元

2025年12月31日
千美元

2,845,848
114,284
49,864

2,328,915
116,333
37,668

3,009,996

2,482,916

30天以內
31至60天
60天以上

貿易及其他應付款項因屬短期性質 ，故其賬面價值被視為與其公允價值相同 。

22. 以股份為基礎的付款
股份激勵計劃

本公司可根據本公司的股份激勵計劃向本集團僱員提供多種激勵獎勵 ，包括2014年購股權計劃 、2014年以股支薪獎勵計
劃 、2024年股份獎勵計劃 、2021年科創板限制性股票激勵計劃 。
於截至2026年6月30日止六個月 ，以權益結算的股份支付所產生的開支為68.0百萬美元（截至2025年6月30日止六個月：
19.5百萬美元）。

期內變動

2014年購股權計劃
下表說明購股權於期內之數目及加權平均行使價 ，以及其變動：
截至2026年6月30日止六個月
數目
加權平均行使價

截至2025年6月30日止六個月
數目
加權平均行使價

於1月1日尚未行使
於期內失效
於期內行使

9,161,696
(62,427)
(559,257)

16.87港元
14.82港元
18.80港元

15,303,689
(47,038)
(4,430,237)

17.88港元
22.06港元
19.48港元

於6月30日尚未行使

8,540,012

16.76港元

10,826,414

17.20港元

緊接購股權行使日期前本公司股份的加權平均收市價為75.83港元（截至2025年6月30日止六個月：41.82港元）。
截至2026年6月30日止六個月尚未行使的購股權行使價區間為7.90港元至24.50港元（截至2025年6月30日止六個月：6.42港
元至24.50港元）。
截至2026年6月30日止六個月未授予購股權 。

66

中芯國際

二零二六年 中報

簡明合併財務報表附註
截至2026年6月30日止六個月

22. 以股份為基礎的付款
（續）
期內變動
（續）

2014年以股支薪獎勵計劃
下表說明2014受限制股份單位於期內之數目及購買價 ，以及其變動：
截至2026年6月30日止六個月
數目
購買價

截至2025年6月30日止六個月
數目
購買價

於1月1日尚未歸屬
於期內失效
於期內歸屬

1,423,867
(23,140)
(1,218,830)

0.031港元
0.031港元
0.031港元

4,801,041
(78,516)
(2,979,961)

0.031港元
0.031港元
0.031港元

於6月30日尚未歸屬

181,897

0.031港元

1,742,564

0.031港元

緊接2014受限制股份單位歸屬日期前本公司股份的加權平均收市價為68.10港元（截至2025年6月30日止六個月：50.76港
元）。
截至2026年6月30日止六個月未授予2014受限制股份單位 。

2024年股份獎勵計劃
下表說明2024限制性股票單位於期內之數目及購買價 ，以及其變動：
截至2026年6月30日止六個月
數目
購買價

截至2025年6月30日止六個月
數目
購買價

於1月1日尚未歸屬
於期內授出
於期內失效
於期內歸屬

2,932,944
18,298,455
(197,818)
(11,491,056)

0.031港元
0.031港元
0.031港元
0.031港元

4,180,026
2,876,943
(109,305)
(3,958,172)

0.031港元
0.031港元
0.031港元
0.031港元

於6月30日尚未歸屬

9,542,525

0.031港元

2,989,492

0.031港元

緊接2024限制性股票單位歸屬日期前本公司股份的加權平均收市價為50.70港元（截至2025年6月30日止六個月：45.65港
元）。
2024限制性股票單位於2026年4月1日授出 ，公允價值為52.82港元（2025年4月1日：44.27港元）。
2024限制性股票單位的估值基於授予日的普通股價格 。

2021年科創板限制性股票激勵計劃
下表說明限制性股票於期內之數目及授予價 ，以及其變動：
截至2026年6月30日止六個月
數目
授予價

截至2025年6月30日止六個月
數目
授予價

於1月1日尚未歸屬
於期內失效

1,095,840
(48,960)

人民幣20.00元
人民幣20.00元

13,153,720
(519,060)

人民幣20.00元
人民幣20.00元

於6月30日尚未歸屬

1,046,880

人民幣20.00元

12,634,660

人民幣20.00元

緊接限制性股票歸屬日期前本公司股份的加權平均收市價為人民幣57.72元（截至2025年6月30日止六個月：人民幣45.92
元）。
截至2026年6月30日止六個月未授予限制性股票 。

中芯國際

二零二六年 中報

67

簡明合併財務報表附註
截至2026年6月30日止六個月

23. 金融工具的公允價值和公允價值等級
以攤餘成本計量的金融工具公允價值

本集團認為 ，已於簡明合併財務報表確認的金融資產及金融負債賬面價值與其公允價值相近 。

計量公允價值應用的估值技術及假設

根據活躍市場的市場報價及基於可觀察市場數據或按市場數據得出的不可觀察輸入數據的估值技術計量金融工具的公允價
值 。本集團內部確認自第三方所得價格資料合理後方會用於合併財務報表 。倘無可觀察市價數據 ，則本集團一般會採用依
賴通常較難自客觀來源可觀察的其他市場數據或輸入數據的估值技術 ，並按適用報告期間的相關資料估計公允價值 。若干
情況下 ，公允價值未必可精確計算或核實 ，或會因經濟及市場因素變更且本集團對該等因素的評估有變時改變 。

已於簡明合併財務狀況表確認的公允價值計量

下表提供於初始確認後按經常基準以公允價值計量的金融工具之分析 ，以公允價值可觀察程度劃分為第1至3級 。截至2026
年6月30日止六個月及截至2025年12月31日止年度 ，公允價值等級內各級之間並無調動：
•

第1級公允價值計量為來自相同資產或負債在活躍市場的報價（未經調整）
；

•

第2級公允價值計量為來自除計入第1級報價以外的直接（即價格）或間接（源自價格）資產或負債可觀察輸入數據；及

•

第3級公允價值計量為來自估值技術所衍生者 ，包括並非基於可觀察市場數據（不可觀察輸入數據）的資產或負債的輸
入數據 。

2026年6月30日

估值技術

金融資產
權益工具－上市公司
權益工具－非上市公司
結構性存款
貨幣基金
交叉貨幣掉期合約
－現金流量套期
遠期外匯合約
－現金流量套期

市場報價
估值倍數或最新融資價格法
蒙特卡洛模擬
可觀察價格
按可觀察收益率曲線計算估計未來
現金流量現值
按可觀察收益率曲線計算估計未來
現金流量現值

金融負債
交叉貨幣掉期合約
－現金流量套期
遠期外匯合約
－現金流量套期

68

中芯國際

二零二六年 中報

按可觀察收益率曲線計算估計未來
現金流量現值
按可觀察收益率曲線計算估計未來
現金流量現值

第1級
千美元

第2級
千美元

第3級
千美元

總計
千美元

28
–
–
59,493
–

–
–
–
–
20,582

–
1,359,236
25,713
–
–

28
1,359,236
25,713
59,493
20,582

–

2,334

–

2,334

59,521

22,916

1,384,949

1,467,386

–

10,978

–

10,978

–

97

–

97

–

11,075

–

11,075

簡明合併財務報表附註
截至2026年6月30日止六個月

23. 金融工具的公允價值和公允價值等級
（續）
已於簡明合併財務狀況表確認的公允價值計量
（續）
於2025年12月31日

估值技術

金融資產
權益工具－上市公司
權益工具－非上市公司
結構性存款
貨幣基金
交叉貨幣掉期合約
－現金流量套期
遠期外匯合約
－現金流量套期

市場報價
估值倍數或最新融資價格法
蒙特卡洛模擬
可觀察價格
按可觀察收益率曲線計算估計未來
現金流量現值
按可觀察收益率曲線計算估計未來
現金流量現值

金融負債
交叉貨幣掉期合約
－現金流量套期

第1級
千美元

第2級
千美元

第3級
千美元

總計
千美元

29
–
–
57,051
–

–
–
–
–
84,151

–
810,472
323,806
–
–

29
810,472
323,806
57,051
84,151

–

3,000

–

3,000

57,080

87,151

1,134,278

1,278,509

–

18,994

–

18,994

按可觀察收益率曲線計算估計未來
現金流量現值

使用主要不可觀察輸入數據的公允價值計量（第3級）
下表呈列截至以下日期止六個月的第3級工具變動：

權益工具－
非上市公司
千美元

結構性存款
千美元

總計
千美元

於2025年1月1日
添置
出售
已確認的（虧損）╱收益
匯率調整

132,067
1,391
(3,931)
(4,796)
466

476,180
203,361
(370,608)
2,921
(308)

608,247
204,752
(374,539)
(1,875)
158

於2025年6月30日

125,197

311,546

436,743

於2026年1月1日
添置
出售
已確認的收益
匯率調整

810,472
514,671
(8,280)
38,327
4,046

323,806
67,716
(367,790)
1,264
717

1,134,278
582,387
(376,070)
39,591
4,763

於2026年6月30日

1,359,236

25,713

1,384,949

中芯國際

二零二六年 中報

69

簡明合併財務報表附註
截至2026年6月30日止六個月

24. 取得非控制性權益
於2026年6月12日 ，本集團從非控股股東處取得了中芯北方49%的股份 ，持股比例增至100% 。本集團向非控股股東發行
了代價為5,961.2百萬美元的普通股 。於該日 ，中芯北方非控制性權益的賬面價值為2,986.9百萬美元 。下表列示了獲取中
芯北方非控制性權益的詳情：
千美元
向非控股股東發行普通股的代價
所取得非控制性權益的賬面價值

(5,961,167)
2,986,876

抵減權益儲備的代價超額部分

(2,974,291)

25. 關聯方交易
截至2026年6月30日止六個月 ，與本集團之間擁有交易的關聯方名稱及與本集團之間的關係披露如下：
關聯方名稱
大唐控股及其關聯公司（「大唐」）
凸版迪色絲電子傳感器（上海）有限公司（「凸版」）
燦芯半導體（上海）股份有限公司（「燦芯」）及其子公司
中芯聚源私募基金管理（上海）有限公司（「中芯聚源」）
芯鑫融資租賃集團股份有限公司（原芯鑫融資租賃有限責任公司）
（「芯鑫融資租賃」）及其子公司
中芯集成電路（寧波）有限公司（「中芯寧波」）
盛吉盛半導體科技股份有限公司
（原盛吉盛（寧波）半導體科技有限公司）
（「盛吉盛」）及其子公司
北方集成電路技術創新中心（北京）有限公司（「北京創新中心」）
上海福瑞科技有限公司（「福瑞」）
國家集成電路基金二期
上海集成電路產業投資基金（二期）有限公司
（「上海集成電路基金二期」）
與本集團有關聯交易的關鍵管理人

70

中芯國際

二零二六年 中報

與本集團的關係
大唐控股通過大唐香港間接持有本公司5%以上股份
本集團的聯營企業
本集團的聯營企業
本集團的聯營企業
本集團的聯營企業
本集團的聯營企業
本集團的聯營企業
本集團的聯營企業
本集團的聯營企業
直接持有本集團若干子公司10%以上的股份
直接持有本集團一子公司10%以上的股份
董事及高級管理人員

簡明合併財務報表附註
截至2026年6月30日止六個月

25. 關聯方交易
（續）
買賣交易

於期內 ，本集團與本集團成員公司以外關聯方訂立以下交易：
截至6月30日止六個月
2026年
千美元

2025年
千美元

銷售商品及服務
燦芯及其子公司
中芯寧波
北京創新中心
大唐
福瑞

銷售商品及服務
銷售商品
銷售商品及服務
銷售商品及服務
提供服務

36,455
17,065
16,445
11,356
362

21,100
13,167
17,634
6,517
–

購買商品及服務
凸版
北京創新中心
中芯聚源
盛吉盛及其子公司

購買商品
接受服務
接受服務
購買商品及接受服務

1,889
1,451
279
178

3,269
9,717
–
681

資產轉讓
芯鑫融資租賃及其子公司
盛吉盛及其子公司

購買設備
購買設備

131,880
433

129,923
20,417

集團作為出租人
凸版
中芯聚源
盛吉盛及其子公司
北京創新中心

租金收入
租金收入
租金收入
租金收入

2,821
319
224
–

2,759
446
165
14

集團作為承租人
芯鑫融資租賃及其子公司

租賃負債付款

6,616

10,116

下列結餘於報告期末尚未償還：
關聯方結欠款項

燦芯及其子公司
盛吉盛及其子公司
凸版
北京創新中心
中芯聚源
芯鑫融資租賃及其子公司
大唐
中芯寧波

結欠關聯方款項

2026年
6月30日
千美元

2025年
12月31日
千美元

2026年
6月30日
千美元

2025年
12月31日
千美元

5,725
2,109
1,635
14,654
151
–
2,009
164

5,916
2,712
1,080
10,481
–
–
444
5,745

593
5,565
341
1,675
52
–
12,595
10,976

83
5,546
183
8,207
71
6,581
5,865
10,005

餘額無擔保且不計息 ，一經要求即可償還 。
與非本集團成員公司之關聯方的買賣交易定價 ，參考第三方在同一時間 、同一地區對可比產品或服務的定價標準 。

中芯國際

二零二六年 中報

71

簡明合併財務報表附註
截至2026年6月30日止六個月

25. 關聯方交易
（續）
注資

本期內 ，國家集成電路基金二期和上海集成電路基金二期對本集團若干子公司注資 ，金額分別為558.2百萬美元和250.5百
萬美元 。

關鍵管理人薪酬

董事及高級管理層人員為具有權力及責任（直接或間接）規劃 、領導及控制本集團活動的人士 。
報告期內及上年同期董事及高級管理層人員的薪酬如下：
截至6月30日止六個月

薪金 、獎金及福利
國家管理的退休金
以權益結算的股份支付開支

2026年
千美元

2025年
千美元

1,320
16
1,579

1,283
20
1,377

2,915

2,680

董事及高級管理層人員的薪酬乃由薪酬委員會就本集團之盈利能力 、業務成績 、個別人士之表現與市場趨勢而釐定 。

26. 承諾
於報告期末 ，本集團的合同承諾如下：

建造廠房及設施的承諾
購買機器及設備的承諾
購買無形資產的承諾
投資出資的承諾

27. 期後事件
本集團於2026年6月30日後未發生重大期後事件 。

72

中芯國際

二零二六年 中報

2026年6月30日
千美元

2025年12月31日
千美元

419,599
5,560,616
9,222
26,447

353,747
10,701,400
23,494
22,787

6,015,884

11,101,428

（於開曼群島註冊成立的有限公司）
股 份 代 號 : 00981

中華人民共和國上海市浦東新區張江路18號
郵政編碼：201203
電 話 : + 86 (21) 3861 0000
網 站 : www.smics.com
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中期報告

2026
* 僅供識別