SMIC Reports $8.03 Billion Revenue in 2024, Up 27% Year-on-Year
Semiconductor Manufacturing International Corporation (SMIC), China's leading chip foundry, announced its unaudited financial results for the fourth quarter and full year of 2024. The company reported a total annual revenue of $8.03 billion, representing a significant 27% increase compared to the previous year. Alongside this revenue growth, SMIC achieved a gross margin of 18%. The report also highlighted operational metrics, noting that the monthly production capacity for 8-inch wafers reached 948,000 units by the end of the period. These results reinforce SMIC's position as the second-largest wafer foundry globally, although it continues to trail industry leader TSMC by a considerable margin. The release of these financial figures provides insight into the resilience and expansion of China's semiconductor manufacturing sector amidst ongoing global supply chain dynamics and technological competition. The data underscores SMIC's continued investment in capacity expansion and its ability to drive revenue growth despite broader market challenges.
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SMIC Reports $8.03 Billion Revenue in 2024, Up 27% Year-on-Year
Semiconductor Manufacturing International Corporation (SMIC), China's leading chip foundry, announced its unaudited financial results for the fourth quarter and full year of 2024. The company reported a total annual revenue of $8.03 billion, representing a significant 27% increase compared to the previous year. Alongside this revenue growth, SMIC achieved a gross margin of 18%. The report also highlighted operational metrics, noting that the monthly production capacity for 8-inch wafers reached 948,000 units by the end of the period. These results reinforce SMIC's position as the second-largest wafer foundry globally, although it continues to trail industry leader TSMC by a considerable margin. The release of these financial figures provides insight into the resilience and expansion of China's semiconductor manufacturing sector amidst ongoing global supply chain dynamics and technological competition. The data underscores SMIC's continued investment in capacity expansion and its ability to drive revenue growth despite broader market challenges.
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