SMIC announces capacity expansion plan

SMIC is expanding its production capacity. Co-CEO Zhao Haijun said at a recent earnings conference that the new capacity will be gradually released at a steady pace, with about 50,000 12-inch factories added each year. SMIC has formulated a capacity expansion plan for 2025, and fixed asset expenditures are expected to be roughly the same as in 2024, at about US$7.5 billion.