SMIC Reports 2019 Fourth Quarter Result
Shanghai, China – February13, 2019 -- Semiconductor Manufacturing International Corporation (SEHK: 981; OTCQX: SMICY) (“SMIC”, the “Company” or “our”), one of the leading semiconductor foundries in the world, today announced its consolidated results of operations for the three months ended December 31, 2019.
2019 Fourth Quarter Highlights
- Revenue was $839.4 million in 4Q19, an increase of 2.8% QoQ from $816.5 million in 3Q19, compared to $787.6 million in 4Q18. Excluding the contribution from the Avezzano 200mm fab in 3Q19 and 4Q18, revenue in 4Q19 was increased by 4.6% QoQ from $802.8 million in 3Q19 and 13.8% YoY from $737.6 million in 4Q18.
- Gross profit was $199.4 million in 4Q19, an increase of 17.4% QoQ from $169.8 million in 3Q19 and 48.7% YoY from $134.1 million in 4Q18.
- Gross margin was 23.8% in 4Q19, compared to 20.8% in 3Q19, 17.0% in 4Q18.
2020First Quarter Guidance
The following statements are forward looking statements based on current expectations and involved risks and uncertainties, some of which are set forth under “Forward-Looking Statements” below.The Company expects:
- Revenue toincreaseby 0%to 2% QoQ.
- Gross margin to range from 21% to23%.
- Non-IFRS operating expenses, excluding the effect of employee bonus accrual, government funding, impairment loss of tangible and intangible assets, gain or loss on the disposal of machinery and equipment, and gain from the disposal of living quarters, to range from $294million to $300million.
- Non-controlling interests of our majority-owned subsidiaries to range from $17 millionnet profit to $19million net profit.
Dr. Zhao Haijun and Dr. Liang Mong Song, SMIC’s Co-Chief Executive Officers commented, “Although there were many uncertain external factors in 2019, with the efforts and support of colleagues and customers, the company's operations have gradually improved, and our annual goals have been achieved. Among them, revenue from our China region accounted for 65% of our total revenue in the fourth quarter of 2019, representing a sequential increase of 11% and a year-on-year increase of 21%. In addition, our first generation of FinFET, 14nm, entered mass production, contributing 1% of wafer revenue for the quarter.
In 2020, SMIC will resume a period of growth. At present, the first quarter revenue is better than seasonal. In response to customers’ market demand, a new round of capital expenditure plans will be deployed, and capacity will gradually expand. In terms of business strategy, we will continue to expand mature process offerings and maintain our leadership in certain segments. In particular, demand for CMOS image sensors, power management, etc. remains strong. We are solidifying our fundamental capabilities on advanced technology, diversifying our customer engagement, and transitioning technology development into income generation. We also expect our first generation of FinFET to steadily ramp up, and our second generation of FinFET to continue customer engagement.
As a fundamental part of the Chinese semiconductor industry, we focus on expanding and improving our product portfolio offerings, expanding our target markets, and serving our increasingly mature customers in seizing the growing market opportunities.”
To see the complete results including financial tables, please click here.
Conference Call / Webcast Announcement
Date: February 14,2020
Time: 8:30 a.m. Beijing time
Dial-in numbers:
Mainland China | +86 400-620-8038 | (Pass code: SMIC) |
Hong Kong, China | +852 3018-6771 | (Pass code: SMIC) |
Taiwan, China | +886 2-5572-3895 | (Pass code: SMIC) |
United States | +1845-675-0437 | (Pass code: SMIC) |
The call will be webcast live with audio at:
http://www.smics.com/en/site/company_activity or https://edge.media-server.com/mmc/p/ookahtor.
An archived version of the webcast, along with an electronic copy of this news release will be available on the SMIC website for a period of 12 months following the webcast.
About SMIC
Semiconductor Manufacturing International Corporation (“SMIC”; SEHK: 981; OTCQX: SMICY), one of the leading foundries in the world, is Mainland China’s most advanced and largest foundry, broadest in technology coverage, and most comprehensive in semiconductor manufacturing services. SMIC provides integrated circuit (IC) foundry and technology services on process nodes from 0.35 micron to 14 nanometer. Headquartered in Shanghai, China, SMIC has an international manufacturing and service base. In China, SMIC has a 300mm wafer fabrication facility (fab), a 200mm faband a majority-owned joint-venture 300mm fab for advanced nodes (under construction) in Shanghai; a 300mm fab and a majority-owned 300mm fab for advanced nodes in Beijing; 200mm fabs in Tianjin and Shenzhen; and a majority-owned joint-venture 300mm bumping facility in Jiangyin. SMIC also has marketing and customer service offices in the U.S., Europe, Japan, and Taiwan China, and a representative office in Hong Kong China.
For more information, please visit www.smics.com.
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