Chinese semiconductor foundry company SMIC: Net profit for Q...

Chinese semiconductor foundry company SMIC: Net profit for Q4 2021 was 3.415 billion yuan, a year-on-year increase of 172.7%, compared to 1.252 billion yuan in Q4 2020. The full-year net profit for 2021 was 10.733 billion yuan, compared to 4.332 billion yuan last year. The restrictions imposed by the Entity List have created obstacles to development. The CAPEX for 2022 is expected to be $5 billion. A higher gross margin is expected compared to the level in 2021. The framework pact with Datang Holdings will continue in 2022.
Semiconductor manufacturing international corporation (SMIC): Net profit for the fourth quarter of 2021 was 3.415 billion yuan, an increase of 172.7% year-on-year. The full-year net profit for 2021 was 10.733 billion yuan, compared to 4.34 billion yuan in the same period last year. It is expected that the revenue for the first quarter of 2022 will increase by 15-17% compared to the previous quarter. The gross margin is expected to be between 36% and 38%. The capital expenditure is expected to be $5 billion, and the production capacity is expected to increase compared to last year.