SMIC Net Profit Up 168.6% In First Three Quarters Of 2020
Semiconductor Manufacturing International Corporation recently published its financial report for the third quarter of 2020, stating that the company’s revenue in the third quarter was CNY7.638 billion, a year-on-year increase of 31.7% and an increase of 13% over the previous quarter; its net profit attributable to shareholders was CNY1.694 billion; and its profit before interest, tax, depreciation and amortization was CNY4.455 billion.
During the first three quarters of 2020, SMIC’s operating revenue was CNY20.799 billion, a year-on-year increase of 30.2%; and its revenue from main business was CNY20.439 billion, a year-on-year increase of 32.6%. The company’s net profit attributable to shareholders was CNY3.08 billion, a year-on-year increase of 168.6%; and its net profit after deducting non-recurring gains and losses was CNY1.656 billion.
In the third quarter of 2020, SMIC’s gross profit was USD262 million, up 5.4% from USD248.6 million in the second quarter of 2020. The gross profit increase was mainly because of the net impact of the increase in sales and cost of sales. In the third quarter of 2020, SMIC’s gross margin was 24.2%, and the number was 26.5% in the second quarter of 2020.
The financial report shows that the external situation becomes complicated and changeable in 2020. As a foundry company, SMIC targets diversified customers at home and abroad. It has been operated in compliance with laws and regulations since establishment. The company maintains active communication with suppliers, customers and related authorities to comprehensive assess the impact of US export control on its production and operations. At present, the company is in normal operation. The export control will have a certain impact on the company in the short term, but the impact is controllable. The company will continue to follow up on this matter and continue to evaluate the impact.