Hangzhou Silan Microelectronics (600460) Q3 2026 earnings summary

Executive summary

• Q3 revenue rose 8.85% YoY to RMB 3.676bn, while attributable net income fell 78.84% to RMB 17.8m, mainly due to fair-value losses on equity investments.

• 9M revenue increased 12.61% YoY to RMB 10.938bn and attributable net income grew 52.91% to RMB 533.8m.

Financial highlights

• Q3 total profit was a loss of RMB 65.9m; 9M total profit reached RMB 360.8m, up 79.96% YoY.

• Q3 adjusted attributable net income, excluding non-recurring items, was RMB 107.7m, up 303.62% YoY; 9M adjusted income was RMB 378.4m, up 28.00%.

• 9M operating cash flow was RMB 875.8m, down 26.93% YoY; 9M basic and diluted EPS were RMB 0.32, up 52.38%.

Outlook and guidance

• Q4 guidance calls for 5-, 6-, 8- and 12-inch silicon wafer lines to remain at full production; SiC chip sales volume is expected to continue growing.

• SiC output from the 6-inch power-device line was near full capacity; the 8-inch SiC line formally entered production.

• Q4 priorities include accelerating product-mix adjustments, expanding output and strengthening cost management to keep gross margin broadly stable.