Le Lézard
Classified in: Science and technology, Business, Covid-19 virus
Subjects: ERN, CCA, ERP

SMIC Reports 2020 Second Quarter Results


SHANGHAI, Aug. 6, 2020 /PRNewswire/ -- 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 June 30, 2020.

2020 Second Quarter Highlights

2020 Third 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:

Dr. Zhao Haijun and Dr. Liang Mong Song, SMIC's Co-Chief Executive Officers commented, "Although the macro environment remains uncertain, IC demand continues to be strong. Our second quarter revenue reached another record high of $938 million, an increase of 4% quarter-over-quarter and a 19% year-over-year increase; profit for the period attributable to SMIC also reached another historical high of $138 million.

In the second quarter, demand for our mature node technology platforms was strong, reflected in substantial growth in our consumer sector revenue, and our advanced technology business is progressing steadily. We maintain a high utilization, our expansion plan will release gradually, and our third quarter revenue is guided to grow to another all-time high.

SMIC is committed to innovation and development, capturing domestic and international opportunities, providing quality products and services to an increasing number of customers locally and globally, and driving the company's continued growth."

To see the complete results including financial tables, please click here: http://www.smics.com/uploads/2020%20Q2%20Earnings%20Release_ENG_final.pdf

Conference Call / Webcast Announcement

Date: August 7, 2020

Time: 8:30 a.m. Beijing time

Dial-in:

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.

Online registration:

You may register for the conference call at: http://apac.directeventreg.com/registration/event/1289672

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: 

http://www.smics.com/en/site/company_activity or https://edge.media-server.com/mmc/p/4majjijt 

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", 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 majority-owned joint-venture 300mm fab for advanced nodes 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 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.

Forward-Looking Statements

This release contains, in addition to historical information, forward-looking statements. These forward-looking statements, including statements under "First Quarter 2020 Guidance", "Capex Summary" and the statements contained in the quotes of our Co-Chief Executive Officers are based on SMIC's current assumptions, expectations, beliefs, plans, objectives, and projections about future events or performance. SMIC uses words like "believe," "anticipate," "intend," "estimate," "expect," "project," "target, "going forward", "continue", "ought to", "may", "seek", "should", "plan", "could", "vision", "goals", "aim", "aspire", "objective", "schedules", "outlook" and similar expressions to identify forward looking statements, although not all forward-looking statements contain these words. These forward-looking statements are necessary estimates reflecting judgment of SMIC's senior management and involve significant risks, both known and unknown, uncertainties and other factors that may cause SMIC's actual performance, financial condition or results of operations to be materially different from those suggested by the forward-looking statements including, among others, risks associated with cyclicality and market conditions in the semiconductor industry, intense competition in the semiconductor industry, SMIC's reliance on a small number of customers, timely wafer acceptance by SMIC's customers, timely introduction of new technologies, SMIC's ability to ramp new products into volume, supply and demand for semiconductor foundry services, industry overcapacity, shortages in equipment, components and raw materials, availability of manufacturing capacity, financial stability in end markets, orders or judgments from pending litigation, intensive intellectual property litigation in the semiconductor industry, general economic conditions and fluctuations in currency exchange rates.

In addition to the information contained in this release, you should also consider the information contained in our other filings with Hong Kong Stock Exchange Limited ("SEHK") and Shanghai Stock Exchange ("SSE") from time to time. Other unknown or unpredictable factors also could have material adverse effects on our future results, performance or achievements. In light of these risks, uncertainties, assumptions and factors, the forward-looking events discussed in this release may not occur. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date stated or, if no date is stated, as of the date of this release. Except as required by applicable laws, SMIC undertakes no obligation and does not intend to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events after the date on which such statement is made or to reflect the occurrence of unanticipated events, whether as a result of new information, future events or otherwise.

About Non-International Financial Reporting Standards ("non-IFRS") Financial Measures

To supplement SMIC's consolidated financial results presented in accordance with IFRS, SMIC uses in this release non-IFRS measures of operating results that are adjusted to exclude finance cost, depreciation and amortization, income tax benefits and expenses, 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. This earnings release also includes first quarter 2020 guidance for non-IFRS operating expenses. The presentation of non-IFRS financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with IFRS. This earnings release includes EBITDA, EBITDA margin and non-IFRS operating expenses which consist of total operating expenses as adjusted to exclude 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. These non-IFRS financial measures are not calculated or presented in accordance with, and are not alternatives or substitutes for financial measures prepared in accordance with IFRS, and should be read only in conjunction with the Group's financial measures prepared in accordance with IFRS. The Group's non-IFRS financial measures may be different from similarly-titled non-IFRS financial measures used by other companies.

SMIC believes that use of these non-IFRS financial measures facilitates investors' and management's comparisons to SMIC's historical performance. The Group's management regularly uses these non-IFRS financial measures to understand, manage and evaluate the Group's business and make financial and operational decisions.

The accompanying table has more information and reconciliations of each non-IFRS financial measure to its most directly comparable IFRS financial measure. A reconciliation of non-IFRS guidance measures to corresponding IFRS measures is not available on a forward-looking basis because the effect of these adjustment items excluded for the purpose of non-IFRS operating expenses guidance are subject to some unpredictable conditions that cannot be estimated with reasonable certainty. 

Contact:
Investor Relations
+86-21-2081-2804
ir@smics.com

SOURCE Semiconductor Manufacturing International Corporation


These press releases may also interest you

at 11:20
Kroll Bond Rating Agency (KBRA) assigns a senior unsecured debt rating of BBB, a subordinated debt rating of BBB-, and a short-term debt rating of K3 for Defiance, Ohio-based Premier Financial Corp. ("Premier Financial" or "the company"). In...

at 11:20
Technavio has been monitoring the waste to energy market and it is poised to grow by USD 12.26 billion during 2020-2024, progressing at a CAGR of over 5% during the forecast period. The report offers an up-to-date analysis regarding the current...

at 11:20
Citi Private Bank today released results from a survey led by the Private Capital Group, providing a rare insight into the thinking of some of the world's sophisticated family offices and investors during an unprecedented health and economic crisis....

at 11:15
The "Clean Room Robot Market with COVID-19 Impact Analysis by Type (Articulated, SCARA, Collaborative Robots), End User (Aerospace, Electrical & Electronics, Food & Beverage), Component (Robotic Arm, End Effector), and Region - Global Forecast to...

at 11:15
HubSpot, a leading growth platform, today introduced new features and updates to help businesses meet the challenges brought on by the COVID-19 crisis and seize new opportunities in the post-pandemic world. The additions include an enterprise sales...

at 11:15
STATEMENT: JOHN DOWNS, NCA PRESIDENT & CEO "The CDC's guidance reinforces that Halloween is happening and provides inspiration for creative and safe approaches to celebrating the holiday throughout the month of October. There's no question that...



News published on 6 august 2020 at 05:33 and distributed by: