SMIC guides Q4 revenue up 4%-6% QoQ, gross margin 26%-28%

SMIC's guidance matters as a read on Chinese foundry demand at a time when the sector's capacity and pricing dynamics are closely watched. The margin range is the more telling figure: it signals how much profitability the company expects to retain even as revenue grows, which speaks to pricing power and utilization rather than volume alone. The absence of detail behind the outlook leaves the drivers unconfirmed. Whether the margin band holds as revenue scales is the open question.