SMIC and Hua Hong Semiconductor's production capacity expanded against the trend

Despite the continued decline in the global semiconductor market in 2023, SMIC and Hua Hong Semiconductor are still expanding their production capacity. The two companies' production capacity reached 805,500 and 391,000 pieces respectively in the fourth quarter of 2023, an increase of 1.2% and 9.2% respectively from the previous quarter. However, due to weakening market demand, the capacity utilization rate of the two companies continued to decline.