On August 24th, semiconductor company Semiconductor Manufacturing International Corporation (SMIC) announced its first half 2022 financial results. Its revenue for the period amounted to RMB 5.65 billion and its adjusted net profit reached RMB 1.44 billion.
In the first half of the year, revenue from countries and regions outside of China and the United States accounted for 39% of the total, an increase of 16 percentage points compared to the same period last year, when it was 23%. Sales in the US market experienced a short-term decline, but the company is considering using Hong Kong as a transit point to improve sales to business customers in the US market, which decreased by 33% compared to the same period last year and accounted for 28.6% of total revenue, down from 34.6% in the same period last year. Additionally, SMIC's research and development expenditure for the first half of the year was 604 million, an increase of 156% compared to the same period last year.
Looking back at the first half of 2021, semiconductor manufacturer SMIC International (06969.HK) reported a revenue of 6.95 billion yuan and a net profit of 2.975 billion yuan. SMIC Group stated that the persistent and fluctuating COVID-19 pandemic had a certain impact on the group's production, supply chain, and logistics in the first half of 2022. The gradual development, refinement, and implementation of major market regulatory policies and regulations will benefit the sustainable and healthy development of the industry in the long term, but may have a certain impact on demand in the short term. As a result, the group's revenue and profit during the review period declined compared to the same period last year.
The following is the original performance report for Symore in mid-June 2022.
Click to download the performance report in PDF format.
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