SMIC International: Channels are stepping up stocking efforts, and stock replenishment is expected to continue until the third quarter.

In its financial report, SMIC International anticipates that in the first half of 2025, under the influence of policy changes both domestically and internationally, distribution channels will intensify stocking and replenishing inventory. The company will actively cooperate with customers to ensure shipments, and this situation is expected to continue until the third quarter. The fourth quarter is the traditional off-season for the industry, and the situation of rush orders and accelerated shipments will relatively slow down. Due to the overall insufficient supply of company's production capacity, the slowdown in quantity will not have a significant impact on the company's capacity utilization rate. Assuming no major changes in the external environment, the company's goal for the whole year is to exceed the average of comparable peers.