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

On the evening of August 11, SMIC announced on the Hong Kong Stock Exchange that its sales revenue in the second quarter of 2022 was $1.903 billion, up 3.3% from $1.84 billion in the first quarter of 2022 and 41.6% from $1.344 billion in the second quarter of 2021.

According to the announcement, the company's second-quarter net profit was $514 million, compared with $688 million in the same period last year; gross profit was $755 million, up 85.3% from a year earlier; and gross profit margin was 39.4%, compared with 40.7% in the first quarter of 2022 and 30.1% in the second quarter of 2021.

SMIC said it expects sales revenue to be flat to 2% in the third quarter from a month earlier, with a gross profit margin of between 38% and 40%.

In addition, according to the announcement, the company's capital expenditure totaled $2.5 billion in the first half of the year and is expected to be about $5 billion in 2022. SMIC's monthly production capacity increased from 649125 equivalent wafers in the first quarter of 2022 to 673750 in the second quarter of 2022.

SMIC management said that at present, it seems that this round of cyclical adjustment will last at least until the first half of next year, but what is certain is that the demand growth of the integrated circuit industry and the trend of global regionalization will remain unchanged, although there will be adjustments in the short term. however, the long-term logic of local manufacturing remains unchanged, and we are still confident about the company's medium-and long-term growth.

SMIC also announced that Dr. Zhao Haijun resigned as executive director of the company in order to focus on performing his duties as co-CEO of the company, effective August 11, 2022. After resigning from the above position, Dr. Zhao will continue to serve as the Co-CEO of the Company.

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