SMIC second quarter revenue surge
Chinese semiconductor manufacturer Semiconductor Manufacturing International Corporation (SMIC), is reporting second-quarter revenue USD 1,903.2 million, an increase of over 40% YoY.
Revenue during the second quarter amounted to USD 1.90 billion, an increase of 41.6% YoY from USD 1.34 billion in 2Q21. Gross profit was USD 750.5 million in 2Q22, compared to USD 405.0 million in 2Q21.
“In the second quarter of this year, the company's revenue exceeded USD 1.9 billion, up 3.3% sequentially, with a small increase in both shipments and ASP. Capacity utilization was 97.1% and gross margin was 39.4%. Due to the limitations on people’s movement as a result of the epidemic, some of the fabs did not conduct annual maintenance in the second quarter, causing the overall impact of the epidemic on output to be lower than expected, thus revenue and gross margin in the quarter slightly exceeded guidance," SMIC management commented in the quarterly report.
In the third quarter, the company is expecting revenue to range from flat to up 2% sequentially.
The company says that it spent a total of USD 2.5 billion in the first half of the year on capital expenditures and increased its 8-inch equivalent capacity by 53 thousand wafers per month – and that its new projects are progressing as planned.