According to CoinMeta, Goldman Sachs released a report stating that SMIC's revenue in the second quarter reached $3 billion, representing a year-on-year increase of 36% and a quarter-on-quarter increase of 20%, both exceeding market expectations and management's guidance. The gross margin during the period was 25.3%, also higher than the anticipated 21% and 21.4%. Goldman Sachs noted that the revenue growth was mainly due to an increase in wafer shipments and average selling prices, while the improvement in gross margin was attributed to the optimization of the product portfolio. For the third quarter, revenue is expected to grow by 2% to 4% quarter-on-quarter, with a gross margin forecast of 26% to 28%, which is in line with market expectations. Goldman Sachs maintains its buy rating on SMIC, believing that the company has an optimistic long-term growth outlook, mainly benefiting from the increasing demand from local fabless semiconductor customers and opportunities related to artificial intelligence.