SMIC Financial Report: Revenue in Q3 2024 is 15.609 billion yuan, a year-on-year increase of 32.5%

SMIC Financial Report: Revenue in Q3 2024 is 15.609 billion yuan, a year-on-year increase of 32.5%

According to recent news, SMIC released its third quarter report for 2024, with revenue of 15.609 billion yuan in the third quarter, a year-on-year increase of 32.5%; net profit of 1.06 billion yuan, a year-on-year increase of 56.4%.

In the first three quarters, the company achieved revenue of 41.879 billion yuan, a year-on-year increase of 26.5%; net profit was 2.706 billion yuan, a year-on-year decrease of 26.4%.

SMIC said that according to International Financial Reporting Standards, the company's revenue in the third quarter increased by 14% month-on-month to US$2.17 billion, reaching the US$2 billion mark in a single quarter for the first time, setting a historical high.

The addition of 21,000 12-inch monthly production capacity has promoted further optimization of product structure, increased the average selling price, increased the overall capacity utilization rate to 90.4%, and increased the gross profit margin to 20.5%.

For the fourth quarter, SMIC's guidance is that revenue will be flat to up 2% quarter-on-quarter, with gross profit margin between 18% and 20%.

Looking at the revenue contribution of each region in the third quarter, revenue from China accounted for 86.4%; the United States accounted for 10.6%; and Eurasia accounted for 3%.

By wafer size, 12-inch wafers accounted for 78.5% of revenue in the third quarter, and 8-inch wafers accounted for 21.5% of revenue.

Zikuai Technology

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