SMIC's revenue in the first quarter of 2024 increased by 17.19%

According to the first quarter report of 2024 of Xinlian Integrated Circuit, the company achieved revenue of 1.353 billion yuan, a year-on-year increase of 17.19%, but operating cash flow reached 306 million yuan, a year-on-year increase of 40.68%. R&D investment was 470 million yuan, accounting for 34.75% of revenue, a year-on-year increase of 36.32%. Among them, SiC MOSFET performed well and achieved "the largest scale shipment in China". It is expected that by 2024, the revenue of SiC business will increase from 370 million yuan last year to 1 billion yuan.