SMIC's third quarter financial report is released, with both revenue and net profit increasing

SMIC recently released its financial report for the third quarter of 2024. The report showed that the company's operating income reached 15.609 billion yuan, a year-on-year increase of 32.5%. Net profit attributable to shareholders of listed companies was 1.060 billion yuan, a year-on-year increase of 56.4%. SMIC said that the growth in revenue was mainly due to increased wafer sales and changes in product mix. In addition, the company's capacity utilization rate exceeded 90%, with 12-inch revenue accounting for a significant increase, reaching 78.5%. For fourth-quarter performance guidance, SMIC expects quarterly revenue to be flat to increase by 2% quarter-on-quarter, with gross profit margins ranging from 18% to 20%.