Revenue fell 18% year-on-year! SMIC’s wafer shipments “increase in volume and decrease in price”
SMIC, the largest wafer foundry in China, recently released its second quarter financial report, with revenue of US$1.56 billion, down 18% year-on-year; profit attributable to company owners was US$403 million, down 21.7% year-on-year, and up 74.3% month-on-month.
SMIC management explained that in the second quarter, 12-inch production capacity demand was relatively full, while 8-inch customer demand was weak, and the capacity utilization rate was lower than 12-inch, but still better than the industry average.
Classified by application, SMIC's revenue from smartphones, Internet of Things, consumer electronics, and other products accounted for 26.8%, 11.9%, 26.5%, and 34.8% respectively.
Among them, the revenue share of smartphones increased by 3.3 percentage points month-on-month, and the revenue share of the Internet of Things decreased by 4.7 percentage points month-on-month.
By region, SMIC's revenue from China accounted for 79.6%, a year-on-year increase of 2.9 percentage points.
In fact, the domestic market has supported SMIC's rebound. The company's revenue and capacity utilization recovery have mainly benefited from domestic urgent orders, especially 12-inch wafer orders for 40nm and 28nm processes, which have returned to full capacity.
The areas involved are mainly DDIC, cameras, LED driver chips, etc. The reason is that the domestic supply chain is being reshuffled and new suppliers are joining, and these companies happen to be SMIC's customers.
SMIC said that shipments in the third quarter are expected to continue to rise, and at the same time, depreciation will also continue to increase. The company's sales revenue in the second half of the year is expected to be better than that in the first half. We will continue to do a good job in technology research and development and platform development, quickly verify new products, and arrange supporting production capacity as quickly as possible to prepare for the next round of growth cycle.
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