SMIC's Q3 Revenue Surpasses $2 Billion for the First Time, Q4 Growth Projected at Up to 2%

On November 7, Semiconductor Manufacturing International Corporation (SMIC) released its financial results for the third quarter of 2024, reporting record-high sales revenue of $2.17 billion, representing a 14% quarter-over-quarter increase, with the gross margin improving to 20.5%.

For the third quarter, SMIC's revenue by application category was as follows: smartphones accounted for 24.9%, computers and tablets for 16.4%, consumer electronics for 42.6%, IoT and wearables for 8.2%, and industrial and automotive for 7.9%. By region, revenue contribution from China was 86.4%, the U.S. accounted for 10.6%, and Europe and Asia accounted for 3%.

By wafer size, revenue from 12-inch wafers accounted for 78.5% of the total, while 8-inch wafers contributed 21.5%. In terms of capacity, SMIC's monthly capacity increased from 837,000 8-inch equivalent wafers in Q2 2024 to 884,250 8-inch equivalent wafers in Q3 2024. The capacity utilization rate improved to 90.4% in the third quarter, with a total of 2.12 million 8-inch equivalent wafers sold, reflecting a year-over-year growth of 38.1%.