Semiconductor Manufacturing International Corporation (SMIC), the largest semiconductor foundry in mainland China, has announced its unaudited financial results for Q2, recording revenue of US$1.6 billion (11.3 billion yuan) and a net profit of US$403 million. Both figures fell short of the same period last year but exceeded expectations.
The second-quarter profit was primarily driven by "other income" which the company did not specify, while sales revenue increased by 6.7 percent from the first quarter, primarily due to higher wafer sales.
In terms of regional distribution, the share of revenue from China increased, while the share from overseas decreased.
On the expenditure front, SMIC's capital expenditure was up to US$1.7 billion, showing an increase from the first quarter. The capacity utilization rate improved from 68.1 percent in the first quarter to 78.3 percent.
Sales revenue for the second half of the year is projected to outperform the first, potentially growing by as much as 5 percent.
