SMIC Sees 21.8% YoY Revenue Surge to $1.9 Billion in Q2 2024, Boosted by Strong Demand in Consumer Electronics and Increased Wafer Production

SMIC Sees 21.8% YoY Revenue Surge to $1.9 Billion in Q2 2024, Boosted by Strong Demand in Consumer Electronics and Increased Wafer Production - Before You Take
Facebook
Twitter
LinkedIn
WhatsApp
Telegram
ADVERTISEMENT

 

SMIC, China’s leading semiconductor foundry, has announced its financial results for Q2 2024, showcasing a remarkable performance with significant increases in both revenue and net profit. Here’s a detailed look at the key financial metrics and operational highlights for the quarter.

 

 

@gizmochina

 

 

Key Points:

 

Revenue: SMIC achieved $1.9013 billion (approximately RMB 13.635 billion) in sales revenue for Q2 2024. This represents an 8.6% increase from the previous month and a substantial 21.8% rise compared to the same quarter last year.

 

Gross Profit Margin: The company’s gross profit margin for the quarter stood at 13.9%.

 

Net Profit: SMIC reported a net profit of $164.6 million (about RMB 1.18 billion), marking a 129.2% month-on-month increase but a 59.1% year-on-year decrease.

 

 

Revenue Breakdown:

 

Consumer Electronics: 36.5%

 

Smartphones: 32%

 

PCs and Tablets: 13.3%

 

Internet and Wearables: 11%

 

Industry and Automobiles: 8.1%

 

 

Geographic Revenue Distribution:

 

China: 80.3% of total revenue

 

United States: 16%

 

Eurasia: 3.7%

 

 

Operational Highlights:

Wafer Size and Production:

 

12-inch wafers contributed 73.6% to revenue.

 

8-inch wafers accounted for 26.4%.

 

Monthly production increased from 814,500 8-inch equivalent wafers in Q1 to 837,000 in Q2.

 

Capacity Utilization: The rate improved to 85.2%, with 2.11188 million 8-inch equivalent wafers sold, reflecting a 17.7% month-on-month increase and a 50.5% year-on-year rise.

 

Capital Expenditure: SMIC’s capital expenditure reached $2.2515 billion, slightly up from $2.2354 billion in Q1 2024, underscoring its ongoing investment in expanding production capabilities.

 

 

Conclusion

SMIC’s Q2 2024 financial results illustrate a robust growth trajectory and operational strength, despite some challenges. The significant increases in revenue and production capacity, coupled with a higher capacity utilization rate, highlight the company’s successful strategies and market expansion efforts. As SMIC continues to invest in technology and production, it is well-positioned for continued growth and dominance in the semiconductor industry.

 

 

Follow Before You Take on Facebook | Twitter | WhatsApp Channel | Instagram | Telegram | Threads | LinkedIn, For the Latest Technology News & Updates | Latest Electric Vehicles News | Electronics News | Mobiles News | Software Updates

We will be happy to hear your thoughts

Leave a reply

Also, Read

Latest News

ADVERTISEMENT
Deal of the Day
ADVERTISEMENT

Related or Latest Posts

ADVERTISEMENT
Deal of the Day
ADVERTISEMENT

Mobiles | Tablets

ADVERTISEMENT

Laptops | Desktops | Monitors

ADVERTISEMENT

Smartwatches | Smart Rings | TWS Earbuds

ADVERTISEMENT

Latest Electric Vehicles News

ADVERTISEMENT

Televisions | TV Sticks | Projectors

ADVERTISEMENT

Speakers | Soundbars | Headphones | keyboards | Mouse

ADVERTISEMENT

Power Banks | Wireless Chargers | Trimmer

ADVERTISEMENT

Air Fryers | Electric Kettles & Heaters | Vacuum Cleaners

ADVERTISEMENT

Refrigerators | Microwave Ovens | Water Purifier

ADVERTISEMENT

Cameras | Drones

ADVERTISEMENT

IT Industry | Business News

ADVERTISEMENT

Latest Space News & Updates

ADVERTISEMENT

Latest OTT Releases

ADVERTISEMENT

New Launches | Informative News | Software Updates

ADVERTISEMENT