SMIC’s net profit fell 21.7% in the second quarter of 2023 to US$402.8 million

According to news from this site on August 10, SMIC today released a summary of its second quarter results for 2023, with revenue of US$1.56 billion (notes from this site: currently about 11.263 billion yuan), market expectations of US$1.553 billion, and the same period last year US$1.903 billion, a year-on-year decrease of 18%.

Second quarter net profit was US$402.8 million (currently approximately 2.908 billion yuan), market expectations were US$184 million, compared with US$514 million in the same period last year,

a year-on-year decrease of 21.7%.

In terms of specific revenue,

SMIC’s revenue in China accounted for 79.6% in the second quarter , followed by 17.6% in the United States; 12-inch wafers accounted for 74.7%, and 8-inch wafers accounted for 25.3%.

SMIC’s monthly production capacity increased to 2023 from 732,250 8-inch equivalent wafers in the first quarter of 2023 754,250 8-inch equivalent wafers in the second quarter

SMIC said that in the second quarter of 2023, the company’s sales revenue increased by 6.7% from the previous quarter. % to US$1.56 billion, and gross profit margin decreased by 0.5 percentage points to 20.3%.

12-inch production capacity demand is relatively full, while 8-inch customer demand is weak. The capacity utilization rate is lower than 12-inch, but still better than the industry average.

SMIC officially expects that in the third quarter, sales revenue is expected to increase by 3% to 5% quarter-on-quarter, with gross profit margins between 18% and 20%. Shipments are expected to continue to rise in the third quarter, and at the same time, depreciation will also continue to increase.

The company's sales revenue in the second half of the year is expected to be better than the first half of the year.

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