On August 6, Semiconductor Manufacturing International Corporation announced its second quarter results for the three months ended June 30, 2020:

• Revenue in the second quarter is $938.5 million, with market estimates of $944.8 million

• The net profit is $138 million, the market is expected to be $95.19 million, and the profit for the same period last year is $18.54 million

• Gross profit was $249 million, up 6.4% from the previous month and 64.5% over the same period last year; gross margin 26.5%, market estimate 26.2%
  

• Earnings per share are $0.02 and the market is expected to earn $0.02, compared with $0 in the same period last year.

In addition Semiconductor Manufacturing International Corporation said that there was a strong demand for mature technology application platforms in the second quarter with significant growth in consumer electronics revenue and steady progress in advanced process business. The company's capacity utilization rate remains high, expansion capacity will be gradually released, and revenue is expected to continue to grow in the third quarter.

In terms of guidance for the third quarterSemiconductor Manufacturing International Corporation expects revenue to grow by 1% in the third quarter compared with the previous quarter.Gross profit margin is in the range of 19% to 21%; operating expenses of non-IFRS will be between $220 million and $235 million; losses borne by non-controlling interests will be between $0 and $10m.

Semiconductor Manufacturing International Corporation commented on the financial results with CEO Dr. Zhao Haijun and Dr. Liang Mengsong: "although the macro environment is still changing, chip demand is still strong."The company achieved another good result in the second quarter: revenue reached US $938 million, up 4% from the previous month and 19% from the same period last year, and the profit attributable to the company was US $138 million, a single-quarter high.

In the second quarter, the demand for mature technology application platform was strong, the income of consumer electronics increased significantly, and the advanced process business advanced steadily. The company's capacity utilization rate remains high, expansion capacity will be gradually released, and revenue is expected to continue to grow in the third quarter. The company is committed to innovation and development, seize the opportunity of domestic and international double cycle, provide more quality products and services for more customers at home and abroad, and promote the continuous growth of the company. "

Summary of operating results in the second quarter

Original announcement: Semiconductor Manufacturing International Corporation's unaudited results for the three months ended June 30, 2020