SMIC releases third quarter financial report for 2024, with both revenue and net profit reaching new highs

According to the third quarter financial report of 2024 released by SMIC on November 7, the company achieved revenue of 15.609 billion yuan in the quarter, a year-on-year increase of 32.5%; net profit of 1.06 billion yuan, a year-on-year increase of 56.4%. The total revenue in the first three quarters was 41.879 billion yuan, a year-on-year increase of 26.5%, but the net profit was 2.706 billion yuan, a year-on-year decrease of 26.4%. In addition, SMIC's Q3 single-quarter revenue exceeded US$2 billion for the first time, and profits soared 56.4%. The addition of 21,000 12-inch monthly production capacity has promoted the optimization of product structure, the average selling price has increased, the overall capacity utilization rate has increased to 90.4%, and the gross profit margin has increased to 20.5%.