Press Releases
SMIC REPORTS 2024 SECOND QUARTER RESULTS
All currency figures stated in this report are in US Dollars unless stated otherwise.
The consolidated financial information is prepared in accordance with International Financial Reporting Standards (“IFRS”) and is presented in accordance with IFRS unless otherwise stated below.
Shanghai, China –August 8, 2024 – Semiconductor Manufacturing International Corporation (SEHK: 00981; SSE STAR MARKET: 688981) (“SMIC”, the “Company” or “we”), one of the leading semiconductor foundries in the world, today announced its consolidated results of operations for the three months ended June 30, 2024.
Second Quarter 2024 Highlights
- Revenue was $1,901.3million in 2Q24, compared to $1,750.2 million in 1Q24, and $1,560.4 million in 2Q23.
- Gross profit was $265.1million in 2Q24, compared to $239.7 million in 1Q24, and $316.5 million in 2Q23.
- Gross margin was 13.9% in 2Q24, compared to 13.7% in 1Q24 and 20.3% in 2Q23.
The following statements are forward looking statements based on current expectations and involved risks and uncertainties.
Third Quarter 2024 Guidance
The Company expects (in accordance with IFRSs):
- Revenue toincrease by 13% to 15% QoQ.
- Gross margin to range from 18% to 20%.
The Management Comments
The Company’s revenue and gross margin both beat guidance in the second quarter. Revenue increased by 9% sequentially to $1.9 billion, of which, 8-inch equivalent wafer shipments increased by 18% sequentially to more than 2.11 million, and blended ASP declined by 8% sequentially due to the changes in product mix.
In the third quarter, the Company’s guidance is: revenue is expected to grow 13% to 15% sequentially, gross margin is expected to be in the range of 18% to 20%.
The Company will continue to dedicate in wafer manufacturing, create vision-based strategic plans, and embrace headwinds and opportunities.
Conference Call / Webcast Announcement
Date: Friday, August 9, 2024
Time: 8:30 A.M. - 9:30 A.M.
WEBCAST
The call will be webcast live at:
http://edge.media-server.com/mmc/p/ic2kiuq7/
CONFERENCE CALL
Please register in advance for the conference call at:
http://register.vevent.com/register/BI9be07cbe39cb4e2daf380f1b426ec2b6
REPLAY
Recording will be available 1 hour after the event and it will be archived for 12 months.
http://www.3dsentson.com/en/site/company_financialSummary
About SMIC
Semiconductor Manufacturing International Corporation (SEHK: 00981; SSE STAR MARKET: 688981) is one of the leading foundries in the world and is the front runner in manufacturing capability, manufacturing scale, and comprehensive service in the Chinese Mainland. SMIC Group provides semiconductor foundry and technology services to global customers on 8-inch and 12-inch wafers. Headquartered in Shanghai, China, SMIC Group has an international manufacturing and service base, with 8-inch and 12-inch wafer fabrication facilities in Shanghai, Beijing, Tianjin and Shenzhen. SMIC Group also has marketing and customer service offices in the U.S., Europe, Japan, and Taiwan, China.
For more information, please visit www.3dsentson.com.
Forward-Looking Statements
This release contains, 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, intellectual property litigation in the semiconductor industry, macro- economic conditions, fluctuations in currency exchange rates and the risk of geopolitics.
Contact:
Investor Relations
+86-21-2081-2800
ir@3dsentson.com
