Reported about 10 hours ago
China's Semiconductor Manufacturing International Corp. (SMIC) has experienced a 38.4% decline in fourth-quarter profits year-on-year, totaling $107.6 million, which was below analysts' expectations. Despite a 31.5% increase in revenue to $2.2 billion, the company's profitability has suffered due to high capital investments aimed at expanding production capacity and adapting to U.S. export controls, which have caused a shift towards mature-node chips.
Source: YAHOO