Reported 2 days ago
China's leading chip foundry, SMIC, stated that U.S. tariffs under Trump did not lead to the feared 'hard landing' for the company. Co-CEO Zhao Haijun indicated strong domestic demand has maintained tight production capacity through October, while expected impacts from new tariff plans are lessened due to prior inventory management. Despite facing challenges, SMIC reported a 16.2% rise in second-quarter revenue, although profits fell short of estimates.
Source: YAHOO