Billionaire chip giant SMIC: The chairman resigned and he was replaced

On July 17, SMIC (0981.HK) announced on the Hong Kong Stock Exchange that Dr. Gao Yonggang will resign as chairman of the company, executive director and chairman of the nomination committee of the board of directors due to work adjustments, effective from July 17, 2023.

SMIC disclosed in the announcement that Dr. Liu Xunfeng (hereinafter referred to as "Dr. Liu"), the company's vice chairman, executive director and member of the board of directors' nomination committee, has been appointed as the company's chairman, executive director and chairman of the board of directors' nomination committee, starting from 2023 Effective July 17.

Resumes of Gao Yonggang and Liu Xunfeng

According to the company's official website, Dr. Gao Yonggang once served as the chairman and executive director of SMIC, and also served as director or chairman of several of the company's subsidiaries and joint-stock companies. Dr. Gao is currently the chairman of Jiangsu Changdian Technology Co., Ltd. (600584.SH) and an independent director of Shanghai Yirui Optoelectronics Technology Co., Ltd. (688301.SH); he is also the executive director of the Accounting Society of China and the founding member of the Hong Kong Independent Non-executive Directors Association. Director, Vice President of China Electronic Information Industry Federation, Executive Director of China International Economic Exchange Center, etc. Dr. Gao has more than 30 years of experience in business management and has served as the financial or business leader of multiple companies or institutions. Dr. Gao once served as the chief accountant of the Institute of Telecommunications Science and Technology and the chairman of Datang Telecom Group Finance Co., Ltd. Dr. Gao holds a doctorate in management from Nankai University.

Dr. Liu Xunfeng, previously served as Vice Chairman and Executive Director of the Company. He also serves as Vice Chairman of Shanghai Chemical Industry Zone Development Co., Ltd. He is also a member of the 14th National Committee of the Chinese People’s Political Consultative Conference, Vice Chairman of China Petroleum and Chemical Industry Federation, and Chairman of Shanghai Municipal Government. President of New Materials Association. Dr. Liu has worked in large industrial groups for a long time and has more than 30 years of corporate management experience. He has served as deputy chief engineer, deputy director of the investment engineering department, assistant general manager and deputy general manager of the ethylene plant of Sinopec Shanghai Petrochemical Co., Ltd., Shanghai Secco Deputy General Manager of Petrochemical Co., Ltd., Deputy General Manager of Shanghai Chemical Industry Zone Development Co., Ltd., Deputy Secretary, President, Party Secretary and Chairman of the Party Committee of Shanghai Huayi (Group) Company, Secretary of the Party Committee and Director of Shanghai Huayi Group Co., Ltd. Chang, Chairman of Shanghai Huayi Holding Group Co., Ltd. He has been awarded titles such as Shanghai Industrial and Commercial Leader and Shanghai Outstanding Entrepreneur. Dr. Liu holds a PhD in Management Science and Engineering from Xi'an Jiaotong University, an MBA from China Europe International Business School, a master's degree in Reaction Engineering from the Department of Chemical Engineering of East China Institute of Chemical Technology (now known as East China University of Science and Technology) and a professor-level senior engineer.

Full year 2022 sales revenue of US$7.2 billion

In March, SMIC released its 2022 annual report: full-year sales revenue in 2022 will exceed US$7.2 billion, a year-on-year increase of 34%, gross profit margin will increase to 38%, and net profit attributable to shareholders of listed companies will exceed US$1.8 billion, both records. reached a new high and achieved the best performance of the year. The company's asset structure is sound. As of the end of the year, total assets were US$43.8 billion, an increase of 21% over the previous year, and the asset-liability ratio was 34%.

SMIC is one of the world's leading integrated circuit wafer foundries and a leader in the integrated circuit manufacturing industry in mainland China. It has leading process manufacturing capabilities, production capacity advantages, and service packages, and provides global customers with different technologies from 0.35 micron to FinFET. Node wafer foundry and technical services. SMIC is headquartered in Shanghai, China, and has a global manufacturing and service base. It has three 8-inch wafer fabs and four 12-inch wafer fabs in Shanghai, Beijing, Tianjin, and Shenzhen; one each in Shanghai, Beijing, and Tianjin The 12-inch wafer fab is under construction.

As of the close on the 17th, SMIC fell 1.40% to close at 48.77 yuan per share, with a total market value of 386.55 billion yuan.