Shulou(Shulou.com)11/24 Report--

According to CTOnews.com news on November 10, SMIC issued an announcement on the Hong Kong Stock Exchange this evening, disclosing its unaudited results for the three months ended September 30, 2022.

SMIC's third-quarter revenue was $1.907 billion (about 13.826 billion yuan), up 34.7% from a year earlier, up 0.2% from a month earlier, estimated at $1.93 billion, and net profit was $470.8 million (about 3.413 billion yuan), with an estimated $4.897 billion, according to the financial report.

In addition, SMIC's gross profit in the third quarter of 2022 was $742 million (about 5.38 billion yuan), up 58.6 percent from a year earlier. The gross profit margin in the third quarter of 2022 was 38.9%.

Looking ahead to the fourth quarter, SMIC expects quarterly revenue to fall by 13% to 15% month-on-month, with gross margins in the range of 30% to 32%.

CTOnews.com learned that SMIC said third-quarter sales revenue was $1.907 billion and shipments fell slightly, but the average unit price rose slightly due to portfolio optimization, with revenue unchanged from the previous quarter. Due to the decline in external demand, some internal factories have carried out year-on-year repairs, while the month-on-month production capacity has increased by 32,000 pieces from the previous month, and the capacity utilization rate is 92.1%, down 5% from the previous quarter. Taking all the above factors into account, the gross profit margin in the third quarter was 38.9%, down 0.5 percentage points from the previous month.

According to SMIC, sales revenue is expected to fall 13% to 15% month-on-month in the fourth quarter, due to weak demand in the mobile phone and consumer sectors, and some customers need a buffer time to interpret the new US export control rules. Gross profit margin is between 30% and 32%. Based on the results of the first three quarters and the median guidance for the fourth quarter, the company's full-year revenue is expected to be about $7.3 billion, an increase of about 34 per cent year-on-year, and gross profit margin is expected to be about 38 per cent. Full-year capital expenditure is planned to rise from $5 billion to $6.6 billion.

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