Shanghai, China – February 4, 2020 -- Semiconductor Manufacturing International Corporation (SSE STAR MARKET: 688981; SEHK: 00981; 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, 2020.
Fourth Quarter 2020 Highlights
- Revenue was $981.1 million in 4Q20, compared to $1,082.5 million in 3Q20 and $839.4 million in 4Q19.
- Gross profit was $176.8 million in 4Q20, compared to $262.0 million in 3Q20 and $199.4 million in 4Q19.
- Gross margin was 18.0% in 4Q20, compared to 24.2% in 3Q20 and 23.8% in 4Q19.
First Quarter 2021 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 7%to 9%QoQ.
- Gross margin to range from 17% to 19%.
Dr. Gao Yonggang, Chief Financial Officer of SMIC commented:“The Company’s revenue in the fourth quarter of 2020 was US$981 million, and gross margin was 18.0%. Multiple full-year financial metrics for the Company (unaudited) hit record highs. Annual revenue was US$3,907 million, a growth of 25.4%; gross profit was US$921 million, a growth of 43.3%; profit attributable to the company was US$716 million, an increase of 204.9%; and EBITDA was US$2,123 million, a growth of 54.6%.
Looking to 2021, as SMIC was placed on the US Entity List, the Company is restricted from procuring related US items or technologies; so, there are risks and uncertainties to our annual forecasts. The forecast we give today assumes that operational continuity is not significantly adversely affected. Export license application processes must be followed, they take time and will face uncertainty. Based on the above, our targets and plan for 2021 are as follows: our annual revenue target is mid-to-high single digit percentage growth; revenue target for 1st half is around $2.1 billion; and annual gross margin target is in the mid-teens range.”
Dr. Haijun Zhao and Dr. Liang Mong Song, Co-CEOs of SMIC commented:“At present, the foundry industry capacity is tight, the demand for non-FinFET processes remain strong, and our capacity for non-FinFET will continue to be fully loaded. In order to meet customer needs, the Company expects capital expenditures this year to be US$4.3 billion, in which majority is for non-FinFET capacity expansion, and remaining for FinFET, the infrastructure of the new Beijing joint-venture project, and etc. In terms of capacity expansion, we increase monthly non-FinFET capacity by 10,000 for 12-inch, and not less than 45,000 for 8-inch this year. Given the impact of being added to the Entity List, we will consider strengthening the development and deployment of our first and second generation FinFET multi-platforms and expand the reliability and competitiveness of our platforms.”
To see the complete results including financial tables, please click here:
Conference Call / Webcast Announcement
Date: February 5, 2021
Time: 8:30 a.m. Beijing time
Teleconference call services are affected by the COVID-19, operator assisted conference calls are not available at the moment. You must preregister online in order to receive the dial-in numbers.
You may register for the conference call at: http://apac.directeventreg.com/registration/event/8398227
Once preregistration has been complete, you will receive dial-in numbers, the passcode, and a unique registrant ID. To join the conference, dial the number you receive in the email, enter the passcode followed by your registrant ID, and you will join the conference instantly.
The call will be webcast live with audio at:
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.
Semiconductor Manufacturing International Corporation (“SMIC”, SSE STAR MARKET: 688981; SEHK: 00981; OTCQX: SMICY) and its subsidiaries collectively constitute 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 Group provides integrated circuit (IC) foundry and technology services on process nodes from 0.35 micron to 14 nanometer. Headquartered in Shanghai, China, SMIC Group has an international manufacturing and service base. In China, SMIC has a 300mm wafer fabrication facility (fab), a 200mm fab and a effectively controlled joint-venture 300mm fab for advanced nodes in Shanghai; a 300mm fab and a majority-owned 300mm fab in Beijing; 200mm fabs in Tianjin and Shenzhen; and a majority-owned joint-venture 300mm bumping facility in Jiangyin. SMIC Group 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.