SHANGHAI -- May 13, 2021 -- Semiconductor Manufacturing International Corporation (SSE STAR MARKET: 688981; SEHK: 00981) ("SMIC", the "Company" or "we"), one of the leading semiconductor foundries in the world, today announced its consolidated results of operations for the three months ended March 31, 2021.
2021 First Quarter Highlights
- Revenue was $1,103.6 million in 1Q21, an increase of 12.5% QoQ from $981.1 million in 4Q20, and 22.0% YoY from $904.9 million in 1Q20.
- Gross profit was $250.1 million in 1Q21, an increase of 41.5% QoQ from $176.8 million in 4Q20, and 7.1% YoY from $233.6 million in 1Q20.
- Gross margin was 22.7% in 1Q21, compared to 18.0% in 4Q20 and 25.8% in 1Q20.
Second 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(in according with IFRS):
- Revenue to increase by 17% to 19% QoQ.
- Gross margin to range from 25% to 27%.
Dr. Gao Yonggang, Chief Financial Officer of SMIC commented:
"First quarter 2021 revenue and gross margin beat guidance, revenue was $1104 million, an increase of 12.5% quarter over quarter and an increase of 22.0% year over year. Gross margin was 22.7%, sequentially up 4.7 percentage points. Second quarter revenue is expected to grow 17% to 19% sequentially, and gross margin is expected to range from 25% to 27%. Revenue for the first half of 2021 will be expected to be around $2.4 billion.
This year, the semiconductor market notes a positive development. Under normal circumstances, the Company should have maintained the rapid growth momentum from last year. But as SMIC was placed on the US entity list, the Company is restricted from procuring related US-origin items and technologies. There are still risks and uncertainties to our second half of 2021. In February, the annual forecast we gave were revenue growth target to be mid-to-high single digit percentage, and gross margin target to be in the mid-teens range. In light of the information currently available to the Company, and based on the uncertain assumption that operational continuity will not be significantly adversely affected, our annual revenue and gross margin are expected to beat original forecast. However, out of an abundance of caution, we ask for your understanding that we will not provide an exact revised range of our second half and full-year expectation for the time being. We will do our best to ensure operation continuity and improve performance, for a better return to our shareholders."
Dr. Haijun Zhao and Dr. Liang Mong Song, Co-CEOs of SMIC commented:
"Our revenue for the first half of 2021 will expect to beat original forecast, first quarter revenue reached one billion U.S. dollars on a firm footing. Facing difficulties, we tackle with precision, and continue to exceed ourselves. Non-FinFET capacity will continue to be fully loaded till the end of the year, and new capacity will mainly form in the second half of this year. In the first quarter FinFET revenue grew sequentially from a trough, and new tape-out projects are steadily engaging."
To see the complete results including financial tables, please click here:
Conference Call / Webcast Announcement
Date: May 14, 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:
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) and its subsidiaries constituting 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 an 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. 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.