Date
21 August 2018

SMIC 3Q net profit soars to US$42.5 mln, filing says

Semiconductor Manufacturing International Corp. (SMIC) (00981.HK) said its unaudited net profit was US$42.5 million in the third quarter, more than triple the US$12 million gain in the same period last year. Revenue rose 15.8 percent to US$534.3 million from a year earlier but fell 1.3 percent from the previous quarter, the Chinese chipmaker said in a stock exchange filing Tuesday. The company expects fourth-quarter revenue to come in either unchanged or 4.5 percent lower than that in the previous quarter, with gross margin projected at 19 percent to 22 percent compared with 21 percent in the third quarter. Both forecasts do not account for wafer shipments from its Wuhan Xinxin unit, the filing said.

– Contact HKEJ at [email protected]

TL/AC/RA

 

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