Semiconductor Manufacturing International Corporation (“SMIC”;NYSE: SMI; SEHK: 981), one of the leading foundries in the world, is Mainland China’s largest foundry in scale, broadest in technology coverage, and most comprehensive in semiconductor manufacturing services. SMIC provides integrated circuit (IC) foundry and technology services on process nodes from 0.35 micron to 28 nanometer. Headquartered in Shanghai, China, SMIC has an international manufacturing and service base. In China, SMIC has a 300mm wafer fabrication facility (fab) and a 200mm fab 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; additionally, in Italy SMIC has a majority-owned 200mm fab. SMIC also has marketing and customer service offices in the U.S., Europe, Japan, and Taiwan, and a representative office in Hong Kong.

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SMIC Reports 2020 Fourth Quarter Results

SHANGHAI, Feb. 4, 2021 - Semiconductor Manufacturing International Corporation (SSE STAR MARKET: 688981; SEHK: 00981; OTCQX: SMICY) ("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 December 31, 2020.

2020 Fourth Quarter Highlights

  • Revenue was $981.1 million in 4Q20, compared to $1,082.5 million in 3Q20 and $839.4 million in 4Q19.
  • Gross profit was $176.8 million in 4Q20, compared to $262.0 million in 3Q20 and $199.4 million in 4Q19.
  • Gross margin was 18.0% in 4Q20, compared to 24.2% in 3Q20 and 23.8% in 4Q19.

First 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:

  • Revenue to increase by 7% to 9% QoQ.
  • Gross margin to range from 17% to 19%.

Dr. Gao Yonggang, Chief Financial Officer of SMIC commented:

"The Company's revenue in the fourth quarter of 2020 was US$981 million, and gross margin was 18.0%. Multiple full-year financial metrics for the Company (unaudited) hit record highs. Annual revenue was US$3,907 million, a growth of 25.4%; gross profit was US$921 million, a growth of 43.3%; profit attributable to the company was US$716 million, an increase of 204.9%; and EBITDA was US$2,123 million, a growth of 54.6%.

Looking to 2021, as SMIC was placed on the US Entity List, the Company is restricted from procuring related US items or technologies; so, there are risks and uncertainties to our annual forecasts. The forecast we give today assumes that operational continuity is not significantly adversely affected. Export license application processes must be followed, they take time and will face uncertainty. Based on the above, our targets and plan for 2021 are as follows: our annual revenue target is mid-to-high single digit percentage growth; revenue target for 1st half is around $2.1 billion; and annual gross margin target is in the mid-teens range."

Dr. Haijun Zhao and Dr. Liang Mong Song, Co-CEOs of SMIC commented:

"At present, the foundry industry capacity is tight, the demand for non-FinFET processes remain strong, and our capacity for non-FinFET will continue to be fully loaded. In order to meet customer needs, the Company expects capital expenditures this year to be US$4.3 billion, in which majority is for non-FinFET capacity expansion, and remaining for FinFET, the infrastructure of the new Beijing joint-venture project, and etc. In terms of capacity expansion, we increase monthly non-FinFET capacity by 10,000 for 12-inch, and not less than 45,000 for 8-inch this year. Given the impact of being added to the Entity List, we will consider strengthening the development and deployment of our first and second generation FinFET multi-platforms and expand the reliability and competitiveness of our platforms."

To see the complete results including financial tables, please click here: