SMIC 0981

US - China (Cold War)

Postby behappyalways » Tue Sep 29, 2020 1:35 pm

US squeezes China's biggest chip-maker SMIC
https://www.bbc.com/news/technology-54324973
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Re: SMIC 0981

Postby winston » Sat Oct 17, 2020 8:41 am

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SMIC revises up third quarter revenue forecast

Semiconductor Manufacturing International Corporation (0981) raised its third-quarter revenue forecast, expecting a 14-16 percent rise from a quarter ago, from 1-3 percent increase.

Gross margin for the three months ended September would be 23 percent to 25 percent as compared with the original guidance of 19 percent to 21 percent, the company said.

However, Goldman Sachs predicts revenue to drop by 6 percent in the third quarter, a 26-27 percent decline from the three months ended June.

Shares of SMIC pared a 7 percent gain on opening to around 1 percent, trading at HK$19.96 as of 2:30 pm.

Source: The Standard

https://www.thestandard.com.hk/breaking ... e-forecast
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Re: SMIC 0981

Postby winston » Thu Nov 12, 2020 6:47 am

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SMIC profit soars to US$256m

by Winnie Lee

Semiconductor Manufacturing International (0981) said third-quarter net profit rose 211 percent year-on-year to US$256.4 million (HK$2.06 billion).

Basic earnings per share were 4 US cents.

Revenue rose 32.6 percent to US$1.08 billion as of the end of September. The gross profit margin fell 2.3 percentage points to 24.2 percent from a quarter ago.

The group expects revenue in the fourth quarter to decrease by 10 to 12 percent quarter-on-quarter. Meanwhile, the gross margin to 16 to 18 percent.

The company said it continues to evaluate the overall impact of US export restrictions on its production and operations.

The company is operating as usual, and though the export restrictions will have an impact, in the near-term, they are believed to be manageable.

Source: The Standard

https://www.thestandard.com.hk/section- ... to-US$256m
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