SMIC Releases Strong Q2 2024 Results with Promising Outlook
TapTechNews August 8th news, the leading foundry in the Chinese mainland, Semiconductor Manufacturing International Corporation (SMIC) today released its second quarter 2024 financial report. The sales revenue was 1.9013 billion US dollars (TapTechNews note: currently about 13.635 billion yuan), estimated at 1.84 billion US dollars, with a sequential growth of 8.6% and a year-on-year growth of 21.8%.
The gross margin of SMIC in the second quarter was 13.9%; the net profit in the second quarter was 164.6 million US dollars (currently about 118 million yuan), estimated at 76.3 million US dollars.
From the perspective of business, the revenue proportions of SMIC in the second quarter were: 32% for smart phones, 13.3% for computers and tablets, 35.6% for consumer electronics, 11% for the Internet and wearables, and 8.1% for industry and automobiles.
From the perspective of regions, the revenue proportion from the Chinese region in the second quarter was 80.3%, the proportion from the US region was 16%, and the proportion from the Eurasian region was 3.7%.
From the perspective of wafer size, the revenue proportion of 12-inch wafers in the second quarter of SMIC was 73.6%, and the revenue proportion of 8-inch wafers was 26.4%.
From the perspective of capacity, the monthly capacity of SMIC increased from 814,500 8-inch equivalent wafers in the first quarter of 2024 to 837,000 8-inch equivalent wafers in the second quarter of 2024.
The capacity utilization rate of SMIC continued to increase to 85.2% in the second quarter, and the company sold 2,111,880 8-inch equivalent wafers in the second quarter, with a sequential growth of 17.7% and a year-on-year growth of 50.5%.
The capital expenditure of SMIC in the second quarter was 2.2515 billion US dollars (currently about 16.146 billion yuan), and it was 2.2354 billion US dollars in the first quarter of 2024.
The sales revenue and gross margin of SMIC in the second quarter were both better than the guidance. Looking forward to the third quarter, the revenue guidance given by SMIC is a sequential growth of 13% to 15%, and the gross margin is within the range of 18% to 20%.