Semiconductor Manufacturing International Corporation (“SMIC”, the “Company” or “our”) announced its consolidated results of operations for the three months ended June 30, 2020.

2020 Second Quarter Highlights

  • Revenue was a record high of $938.5 million in 2Q20, an increase of 3.7% QoQ from $904.9 million in 1Q20, and 18.7% YoY from $790.9 million in 2Q19.

  • Gross profit was $248.6 million in 2Q20, an increase of 6.4% QoQ from $233.6 million in 1Q20 and 64.5% YoY from $151.2 million in 2Q19.

  • Gross margin was 26.5% in 2Q20, compared to 25.8% in 1Q20 and 19.1% in 2Q19.

Third Quarter 2020 Guidance

The following statements are forward looking statements based on current expectations and involved risks and uncertainties, some of which are set forth under “Forward-Looking Statements” below.The Company expects:

  • Revenue to increaseby 1%to 3% QoQ.

  • Gross margin to range from 19% to21%.

  • Non-IFRS operating expenses to range from $220million to $235million.

  • Losses to be borne by non-controlling interests of our majority-owned subsidiaries to range from $0 to $10 million.

Dr. Zhao Haijun and Dr. Liang Mong Song, SMIC’s Co-Chief Executive Officers commented, “Although the macro environment remains uncertain, IC demand continues to be strong. Our second quarter revenue reached another record high of $938 million, an increase of 4% quarter-over-quarter and a 19% year-over-year increase; profit for the period attributable to SMIC also reached another historical high of $138 million.

In the second quarter, demand for our mature node technology platforms was strong, reflected in substantial growth in our consumer sector revenue, and our advanced technology business is progressing steadily. We maintain a high utilization, our expansion plan will release gradually, and our third quarter revenue is guided to grow to another all-time high.

SMIC is committed to innovation and development, capturing domestic and international opportunities, providing quality products and services to an increasing number of customers locally and globally, and driving the company’s continued growth.”