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

According to a report by Science and Technology Innovation Board Daily, Zhao Haijun, co-CEO of SMIC, said at the performance meeting on the 12th that in the first half of this year, the integrated circuit industry chain entered a dual-cycle impact stage, bringing some panic and uncertainty to the market, and some links of the industrial chain even showed extreme reactions of "quick freeze and quick stop".

Zhao Haijun pointed out that the first is the cycle of slowing global economic growth. Under the influence of many factors, such as the impact of the epidemic, high inflation and international local conflicts, global economic growth is under great pressure and consumption power is insufficient. The second is that the semiconductor market itself has entered a downward cycle. After accelerating consumption and expanding production capacity in the past few quarters, the industry as a whole has entered the balance of supply and demand, and some links have entered the destocking stage.

SMIC's second-quarter financial report announced on the Hong Kong Stock Exchange on the 11th pointed out that due to the flow of epidemic control personnel, the annual repairs of some factories were not carried out in the second quarter, so that the impact of the epidemic on output was lower than expected, with a net profit of US $514 million, an annual decrease of 25.2%; and delete items classified by technology nodes that have been mentioned in the past.

SMIC had second-quarter revenue of $1.903 billion, an annual increase of 41.6 per cent.

It is reported that on August 11, SMIC issued an announcement announcing the resignation of Dr. Zhao as an executive director and appointing Academician Wu Hanming as an independent non-executive director of the Company, a member of the board of directors nomination committee and a member of the strategy committee of the Company, effective August 11, 2022.

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