SMIC Financial Report: SMIC's revenue in Q2 2023 was US$1.56 billion, down 18% year-on-year

According to recent news, China's largest wafer foundry, SMIC, released its Q2 financial report, with revenue of US$1.56 billion, a year-on-year decrease of 18%; profit attributable to owners of the company was US$403 million, a year-on-year decrease of 21.7% and a month-on-month increase of 74.3%.

In the second quarter, the company's capacity utilization rate increased by 10 percentage points. At the same time, the proportion of revenue from the domestic market increased to 79.6%. Urgent orders from domestic chip companies supported SMIC's rebound.

SMIC also made it clear that the domestic supply chain is being reshuffled, with new suppliers joining, and these companies happen to be SMIC's customers.

At the same time, SMIC's management also expressed confidence in the future. Co-CEO Zhao Haijun said that China is still the world's largest integrated circuit consumer market. Although it is foreseeable that competition will be more intense in the future due to changes in the industrial chain structure and the reintegration and allocation of resources, the company has long-term confidence in the industry's prospects.

He said that SMIC is pursuing long-term development based on the company's large platform, major technologies, comprehensiveness, leadership and scale effects in the domestic field.

SMIC will continue to do a good job in technology research and development and platform development, quickly verify new products, and arrange supporting production capacity as quickly as possible to prepare for the next round of growth cycle.

Zikuai Technology