SMIC Q2 revenue of $156 billion, a year-on-year decrease of 18%

SMIC's Q2 revenue was $156 billion, down 18% YoY

【phoneauto News】On August 10th, phoneauto noticed that Semiconductor Manufacturing International Corporation (SMIC) announced its latest financial data for the second quarter of 2023 on the Hong Kong Stock Exchange. It is reported that in the second quarter of 2023, SMIC’s total revenue was $1.56 billion (approximately RMB 11.2 billion), slightly higher than market expectations of $1.553 billion, but lower than the $1.903 billion (approximately RMB 13.7 billion) in the same period last year. Overall, SMIC’s revenue in the second quarter of 2023 was lower than that of the same period last year.

At the same time, SMIC stated that it expects a 3% to 5% quarter-on-quarter increase in sales revenue and a gross profit margin between 18% and 20% for the third quarter of 2023. It is expected that shipments in the third quarter will continue to increase, while depreciation will also continue to rise. The company’s sales revenue in the second half of the year is expected to be better than that in the first half. SMIC will continue to focus on technology research and development, platform development, quickly validate new products, and arrange supporting production capacity as quickly as possible to prepare for the next growth cycle.

According to official data, in the first quarter of 2023, SMIC’s total revenue was RMB 10.209 billion, a year-on-year decrease of 13.9%; net profit attributable to shareholders was RMB 1.591 billion, a year-on-year decrease of 44%. At that time, SMIC stated that the decrease in net profit was mainly due to a decrease in wafer sales volume and a decline in capacity utilization.

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In July 2023, SMIC announced that Dr. Zhou Zixue resigned from the positions of Chairman of the Board, Executive Director, and Chairman of the Nomination Committee due to work adjustments. Dr. Liu Xunfeng, Vice Chairman, Executive Director, and member of the Nomination Committee, was appointed as Chairman of the Board, Executive Director, and Chairman of the Nomination Committee.

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