SMIC's revenue is expected to grow by 22.25% in 2024

Xinlian Integrated Circuit released its performance report for 2024 and the first quarter of 2025. In 2024, the company achieved revenue of 6.509 billion yuan, a year-on-year increase of 22.25%, and a net profit loss of 962 million yuan, a year-on-year reduction of 50.87%. In the first quarter of 2025, the company's revenue was 1.734 billion yuan, a year-on-year increase of 28.14%, and a net profit loss of 182 million yuan, a year-on-year reduction of 24.71%. The company said that the revenue growth was mainly due to the increase in market demand and the continuous release of production capacity.