Press Releases
SMIC REPORTS 2023 FOURTH QUARTER RESULTS
All currency figures stated in this report are in US Dollars unless stated otherwise.
The consolidated financial information is prepared in accordance with International Financial Reporting Standards (“IFRS”) and is presented in accordance with IFRS unless otherwise stated below.
Shanghai, China –February 6, 2024 – Semiconductor Manufacturing International Corporation (SEHK: 00981; SSE STAR MARKET: 688981) (“SMIC”, the “Company” or “we”), one of the leading semiconductor foundries in the world, today announced its consolidated results of operations for the three months ended December 31, 2023.
Fourth Quarter 2023 Highlights
The following statements are forward looking statements based on current expectations and involved risks and uncertainties.
FIRST Quarter 2024 Guidance
The Company expects:
The Management Comments
The fourth quarter revenue increased by 3.6% sequentially to $1,678.3 million, slightly beat the guidance; gross margin was 16.4%, in line with the guidance.
The unaudited revenue in 2023 was $6.32 billion, down 13% year-over-year; gross margin was 19.3%, basically in line with the Company’s guidance provided in the beginning of 2023. Monthly capacity was 806 thousand 8-inch equivalent wafers by the end of the year, and annualized capacity utilization rate was 75%.
The revenue for the first quarter of 2024 is expected to be flat to up 2% sequentially, and the gross margin is expected to be in the range of 9% to 11%.
Based on the premise that there are no significant changes in the external environment, the Company's guidance for the year 2024 is:
Date: Wednesday, February 7, 2024
Time: 8:30 A.M. - 9:30 A.M.
WEBCAST
The call will be webcast live at:
http://edge.media-server.com/mmc/p/z6jyxkgy
CONFERENCE CALL
Please register in advance for the conference call at:
http://register.vevent.com/register/BIabe3972cdbb8470abeec8626c567efbb
REPLAY
Recording will be available 1 hour after the event and it will be archived for 12 months.
http://www.kuakao-ls.com/en/site/company_financialSummary
About SMIC
Semiconductor Manufacturing International Corporation (SEHK: 00981; SSE STAR MARKET: 688981) is one of the leading foundries in the world and is the front runner in manufacturing capability, manufacturing scale, and comprehensive service in the Chinese Mainland. SMIC Group provides semiconductor foundry and technology services to global customers on 8-inch and 12-inch wafers. Headquartered in Shanghai, China, SMIC Group has an international manufacturing and service base, with 8-inch and 12-inch wafer fabrication facilities in Shanghai, Beijing, Tianjin and Shenzhen. SMIC Group also has marketing and customer service offices in the U.S., Europe, Japan, and Taiwan, China, and a representative office in Hong Kong, China.
For more information, please visit www.kuakao-ls.com.
Forward-Looking Statements
This release contains, in addition to historical information, forward-looking statements. These forward-looking statements are based on SMIC's current assumptions, expectations, beliefs, plans, objectives, and projections about future events or performance. SMIC uses words including but not limited to “believe”, “anticipate”, “intend”, “estimate”, “expect”, “project”, “target”, “going forward”, “continue”, “ought to”, “may”, “seek”, “should”, “plan”, “could”, “vision”, “goal”, “aim”, “aspire”, “objective”, “schedule”, “outlook” and other similar expressions to identify forward looking statements. These forward-looking statements are estimates made by SMIC's senior management based on their best judgment and involve significant risks, both known and unknown, uncertainties and other factors that may cause SMIC's actual performance, financial condition or results of operations to be materially different from those suggested by the forward-looking statements including, among others, risks associated with cyclicality and market conditions in the semiconductor industry, intense competition in the semiconductor industry, timely wafer acceptance by SMIC's customers, timely introduction of new technologies, SMIC's ability to ramp new products into volume, supply and demand for semiconductor foundry services, shortages in equipment, parts, raw materials, software and theirservice supports, orders or judgments from pending litigation, intellectual property litigation in the semiconductor industry, general economic conditions, fluctuations in currency exchange rates and the risk of geopolitics.
Contact:
Investor Relations
+86-21-2081-2800
ir@kuakao-ls.com