SHANGHAI -- Aug. 11, 2022 -- 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, 2022.
2022 Second Quarter Highlights
- Revenue was $1,903.2 million in 2Q22, an increase of 3.3% QoQ from$1,841.9 million in 1Q22, and 41.6% YoY from $1,344.1 million in 2Q21.
- Gross profit was $750.5 million in 2Q22, compared to $750.3 million in 1Q22, and 85.3% YoY from $405.0 million in 2Q21.
- Gross margin was 39.4% in 2Q22, compared to 40.7% in 1Q22 and 30.1% in 2Q21.
Third Quarter 2022 Guidance
The following statements are forward looking statements based on current expectations and involved risks and uncertainties. The Company expects (in accordance with IFRS):
- Revenue to increase by 0% to 2% QoQ.
- Gross margin to range from 38% to 40%.
SMIC management commented: "In the second quarter of this year, the company's revenue exceeded US$ 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.
In the third quarter, revenue is expected to be flat to up 2% sequentially, with gross margins in the range of 38% to 40%.
In the first half of the year, the Company spent a total of $2.5 billion on capital expenditures and increased its 8-inch equivalent capacity by 53 thousand wafers per month, which is in line with the expectation, and the new projects are progressing as planned.
At present, it seems that this cycle adjustment will last at least until the first half of next year. However, what is certain is that the IC industry's demand growth and global localization trend as well as the long-term logic of indigenous manufacturing remains unchanged, although there are short-term adjustments. We remain confident in the company's medium- to long-term growth."
To see the complete results including financial tables, please click here:
Conference Call / Webcast Announcement
Date: Friday, August 12, 2022
Time: 8:30 A.M. - 9:30 A.M.
The call will be webcast live at:
Please register in advance for the conference call at:
Recording will be available approximately 1 hour after the event and it will be archived for 12 months.
Semiconductor Manufacturing International Corporation (SEHK: 00981; SSE STAR MARKET: 688981) and its subsidiaries 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 0.35 micron to 14 nanometer process node technologies. Headquartered in Shanghai, China, SMIC Group has an international manufacturing and service base, with three 8-inch wafer fabrication facilities ("fabs") and three 12-inch fabs in Shanghai, Beijing, Tianjin and Shenzhen, and three 12-inch fabs under construction in Shanghai, Beijing and Shenzhen. SMIC Group also has marketing and customer service offices in the U.S., Europe, Japan, and Taiwan, China, and a representative office in Hong Kong, China.
For more information, please visit www.smics.com.