Semiconductor Manufacturing International Corporation announced its second quarter results. In Q2, the revenue was 1.9 billion USD, an increase of 8.6% QoQ and 21.8% YoY, while the market had estimated 1.84 billion USD. The net income was 0.1646 billion USD, a decrease of 59% YoY, while the market had estimated 76.3 million USD. The company's performance exceeded market expectations across the board.
Semiconductor Manufacturing International Corporation (SMIC) released its Q2 performance results, with Q2 revenue of $1.9 billion, up 8.6% QoQ and 21.8% YoY, exceeding the market's estimated $1.84 billion. Net income was $164.6 million, down 59% YoY, with the market's estimated $76.3 million. Monthly capacity increased from the first quarter of 2024, with roughly 814,500 8-inch wafers produced to roughly 837,000 8-inch wafers produced in the second quarter of 2024, exceeding market expectations.
Currently, according to ChipMOS Technologies, it is expected that by 2024, the domestic production rate of semiconductor equipment in China will only increase to 13.6%, and there is still ample room for improvement in several core areas of the semiconductor industry in China. Therefore, enhancing independent innovation capabilities and promoting the coordinated development of the entire industry chain has become the inevitable path for China's semiconductor industry. Wang Shubao of Guodu Securities pointed out that under the promotion of AI demand and external environmental factors, the domestic semiconductor industry chain is expected to accelerate its development, and upstream semiconductor equipment companies are expected to usher in a long period of prosperity.
According to the Financial Data Center, among related listed companies:
Konfoong Materials International is the only domestically produced supplier of integrated circuit hybrid bonding equipment. SMIC was once the company's largest customer.
JiangFeng Electronic Technology Co. is engaged in the research, production, and sales of high-purity sputtering target materials, and is one of the top five customers of SMIC.