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China’s semiconductor foundry leader SMIC has released its financial report for the second quarter of the year today. According to the report, the company has achieved a sales revenue of US$1.9013 billion (equivalent to RMB 13.635 billion). This is reportedly a month-on-month increase of 8.6% and a year-on-year increase of 21.8%.
The company’s gross profit margin in the second quarter was 13.9%; net profit in the second quarter was US$164.6 million (currently approximately RMB 1.18 billion), which was estimated to be US$76.3 million, a month-on-month increase of 129.2% and a year-on-year decrease of 59.1%.
Reportedly, 36.5% of the company’s revenue in Q2 2024 came from consumer electronics, 32% from smartphones, 13.3% from PCs and tablets, 11% from Internet and wearables, and 8.1% from industry and automobiles. From a regional perspective, 80.3% of the company’s second-quarter revenue came from China alone. In comparison, only 16% of it came from the US and only 3.7% came from Eurasia. Notably, the second quarter sales revenue and gross profit margin were better than expected.
In terms of wafer size, 12-inch wafers accounted for 73.6% of SMIC’s revenue in the second quarter, while 8-inch wafers accounted for 26.4% of its revenue. The company’s monthly production capacity increased from 814,500 8-inch equivalent wafers in Q1 2024 to 837,000 8-inch equivalent wafers in Q2 2024.
SMIC’s capacity utilization rate continued to increase to 85.2% in Q2 this year. It sold 2.11188 million 8-inch equivalent wafers In the period, which is a month-on-month increase of 17.7% and a year-on-year increase of 50.5%. The company’s capital expenditure in Q2 was US$2.2515 billion, slightly higher than US$2.2354, which was the capital expenditure in Q1.
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