Log in
Log in
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
Sign up
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     

SEMICONDUCTOR MANUFACTURING INTERNATIONAL CORPORATION

(981)
  Report
Delayed Hong Kong Stock Exchange  -  04:08 2022-10-05 am EDT
16.94 HKD   +4.96%
09/22New China ETFs test investor appetite amid Sino-U.S. tech war, market rout
RE
09/06Semiconductor Manufacturing International Corporation commences an Equity Buyback Plan for 791,003,043 shares, representing 10% of its issued share capital, under the authorization approved on June 24, 2022.
CI
09/01Explainer-Biden's curbs on chips to China part of broader effort
RE
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisionsFunds 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

China's SMIC posts quarterly revenue surge but warns of some panic in chip sector

08/12/2022 | 12:01am EDT
FILE PHOTO: A logo of Semiconductor Manufacturing International Corporation (SMIC) is seen at China International Semiconductor Expo (IC China 2020) following the coronavirus disease (COVID-19) outbreak in Shanghai

SHANGHAI (Reuters) - Chinese chip maker Semiconductor Manufacturing International Corp (SMIC) on Friday reported a 42% jump in second-quarter revenue but also said the sector was facing some "panic and uncertainty".

A slowdown in demand for smartphones in particular has driven down prices for certain chips, co-CEO Zhao Haijun told investors on an earnings call.

His remarks echo comments from other chip companies which have warned that a weakening global economy and a re-balancing of supply and demand might soon lead to a glut for some types of semiconductors.

Memory chip maker Micron Technology has cut its current-quarter revenue forecast citing waning demand for PCs and smartphones, while GPU chip maker Nvidia has warned of weak demand for its gaming business.

SMIC's revenue for the April-June quarter came in at $1.9 billion, in line with a Refinitiv consensus estimate.

Net profit slid by a quarter to $514.3 million as the company poured funds into capacity expansion, but still beat an average estimate from analysts of $475 million.

Last year, at the height of the global chip shortage, the company committed to opening new fabs in Shanghai, Beijing, and Shenzhen. The new projects "are progressing as planned," Zhao said.

He added that the company spent $2.5 billion in the first half of the year, and had increased its 8-inch wafer production capacity by 53,000 wafers per month.

SMIC also said Zhao would step down as an executive board member to focus on his co-CEO duties.

Former Arm executive William Tudor Brown resigned as independent non-executive director of the board, replaced by Wu Hanming, an industry veteran who worked at Intel before returning to China.

(Reporting by Josh Horwitz; Editing by Edwina Gibbs)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
INTEL CORPORATION -0.22% 27.64 Delayed Quote.-46.21%
MICRON TECHNOLOGY, INC. 1.43% 54.73 Delayed Quote.-41.25%
NVIDIA CORPORATION 0.32% 132.09 Delayed Quote.-55.09%
SEMICONDUCTOR MANUFACTURING INTERNATIONAL CORPORATION 4.96% 16.94 Delayed Quote.-13.50%
All news about SEMICONDUCTOR MANUFACTURING INTERNATIONAL CORPORATION
09/22New China ETFs test investor appetite amid Sino-U.S. tech war, market rout
RE
09/06Semiconductor Manufacturing International Corporation commences an Equity Buyback Plan ..
CI
09/01Explainer-Biden's curbs on chips to China part of broader effort
RE
08/28SMIC to Build New $7.5 Billion Factory in China's Tianjin City
MT
08/27Chinese chip foundry SMIC to invest $7.5 bln in new fab in Tianjin
RE
08/26Chinese chip foundry SMIC to invest $7.5 billion in Tianjin
RE
08/15Former TSMC Top Executive "Regrets" Working for SMIC
MT
08/15Hong Kong Hang Seng Down 0.7% on Economic Growth, Pandemic Outlooks
MT
08/15Nomura Adjusts Semiconductor Manufacturing International's Price Target to HK$20 From H..
MT
08/12Hong Kong Hang Seng Up 0.5% As Property and Tech Sectors Edge Higher
MT
More news
Analyst Recommendations on SEMICONDUCTOR MANUFACTURING INTERNATIONAL CORPORATION
More recommendations
Financials (USD)
Sales 2022 7 546 M - -
Net income 2022 1 899 M - -
Net cash 2022 183 M - -
P/E ratio 2022 9,14x
Yield 2022 -
Capitalization 23 243 M 23 243 M -
EV / Sales 2022 3,06x
EV / Sales 2023 2,98x
Nbr of Employees 19 417
Free-Float 82,5%
Chart SEMICONDUCTOR MANUFACTURING INTERNATIONAL CORPORATION
Duration : Period :
Semiconductor Manufacturing International Corporation Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends SEMICONDUCTOR MANUFACTURING INTERNATIONAL CORPORATION
Short TermMid-TermLong Term
TrendsBullishNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 24
Last Close Price 2,16 $
Average target price 2,65 $
Spread / Average Target 22,6%
EPS Revisions
Managers and Directors
Hai Jun Zhao Co-Chief Executive Officer
Meng Song Liang Co-Chief Executive Officer
Yong Gang Gao Chairman & Chief Financial Officer
Xin Zhang Senior Vice President-Operations & Engineering
Mei Fung Hoo Joint Secretary & Compliance Officer
Sector and Competitors