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

CTOnews.com February 9 news, SMIC released the 2022Q4 financial results, annual revenue exceeded $7.2 billion (currently about 48.888 billion yuan). The company's fourth-quarter revenue is $1.62 billion (currently about 11 billion yuan) and estimates are $1.65 billion; fourth-quarter net profit is $385.5 million (currently about 2.618 billion yuan) and estimates are $310.3 million.

Financial summary sales were $1621.3 million in the fourth quarter of 2022, $1907.0 million in the third quarter of 2022 and $1580.1 million in the fourth quarter of 2021.

Gross profit was $518.7 million in the fourth quarter of 2022, $742.2 million in the third quarter of 2022 and $552.8 million in the fourth quarter of 2021.

The gross profit margin was 32.0% in the fourth quarter of 2022, 38.9% in the third quarter of 2022, 35.0% in the fourth quarter of 2021.

Annual sales revenue in 2022 was $7273.3 million, an increase of 33.6% compared to $5443.1 million in 2021.

The profit attributable to the owners of the Company for the whole of 2022 was US $1817.9 million, an increase of 6.8% compared with the profit attributable to the owners of the Company for the whole of 2021 of US $1701.8 million.

The following statements are forward-looking statements based on current expectations and cover risks and uncertainties.

Guidelines for the first quarter of 2023 the guidelines for the Company's expectations under IFRS are:

Quarterly revenue fell 10% to 12% from the previous quarter.

Gross margin is in the range of 19% to 21%.

The management commented that the sales revenue in the fourth quarter of 2022 was $1.621 billion, down 15% from the previous month, and the gross profit margin was 32%, which is in line with the company's judgment and guidance on the industry.

Overall, according to unaudited financial data, the company's revenue leapt to $7.2 billion in 2022, an increase of 34% over the same period last year, achieving an annual growth rate of more than 30% in 2021 and 2022, and gross profit margin rose to 38% in 2022, an all-time high. The company's capital expenditure is $6.35 billion, with an 8-inch monthly production capacity of 714 million pieces by the end of the year, with a full-year capacity utilization rate of 92%. By the end of 2022, SMIC Shenzhen has entered the stage of commissioning, SMIC's capital has entered the stage of trial production, SMIC has completed the capping of the main structure near the port, and SMIC Xiqing has begun civil construction. SMIC Beijing is expected to delay production by one or two quarters due to the delay in the delivery of bottleneck equipment.

Looking forward to 2023, the first half of the industry cycle is still at the bottom, and the impact of external uncertainties is still complex. The company's guidance for the first quarter is that revenue is expected to fall by 10% to 12% month-on-month, and gross profit margin is expected to fall to between 19% and 21%. Based on the relatively stable external environment, the company estimates that for the whole year of 2023:

Sales fell by ten digits year-on-year, with a gross profit margin of about 20%.

Depreciation increased by more than 20% over the same period last year, and capital expenditure was roughly the same as the previous year.

The monthly production increment by the end of the year is similar to that of the previous year.

SMIC said that in the process of continuous investment, gross profit margin is under high depreciation pressure, and the company will always aim at sustainable profit, strive to grasp the pace of capacity expansion and ensure a certain gross profit margin.

CTOnews.com has learned that SMIC is one of the world's leading foundry companies for integrated circuit wafers and a leader in Chinese mainland integrated circuit manufacturing, with leading process capabilities, capacity advantages and supporting services to provide wafer foundry and technical services ranging from 0.35micron to FinFET technology nodes to global customers. Headquartered in Shanghai, China, SMIC has a global manufacturing and service base, with three 8-inch fabs and four 12-inch fabs in Shanghai, Beijing, Tianjin and Shenzhen. there is a 12-inch fab under construction in Shanghai, Beijing and Tianjin.

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