SMIC’s 2024 revenue hits record high, but net profit declines · TechNode

SMIC’s 2024 revenue hits record high, but net profit declines · TechNode

On Thursday, Chinese chip foundry SMIC reported record-high annual revenue of RMB 57.8 billion ($8.07 billion), a 27.7% year-on-year increase. The gross margin was 18.6%, and capacity utilization stood at 85.6%, according to its 2024 fiscal year financial report. However, net profit attributable to shareholders fell 23.3% year-on-year to RMB 3.7 billion ($520 million), with earnings per share at RMB 0.46 ($0.064). The number of wafers sold, conv…

China’s top foundry SMIC reports revenue growth in 2024, but net profits plunge

Full-year revenue grew 27 per cent to US$8 billion but net profit plunged 45.4 per cent to US$493 million.

Good news for the China industry, and is that according to the latest reports, its leading foundry, SMIC, would complete the development of its node at 5 nm this year. This information came from Kiwoom Securities, a financial services company from South Korea. Information that was collected by @jukanlosreve. However, as a negative point for the Chinese industry, these wafers will be much more expensive compared to those of TSMC. In addition, a l…

SMIC profit slides 23% in 2024 despite record revenue surge

SMIC released its fourth-quarter and full-year 2024 financial results on March 27, reporting record revenue and wafer shipments. However, profitability declined amid persistent US export controls and reduced investment income. Net profit attributable to shareholders dropped more than 20% year-over-year.