SMIC announced that second-quarter revenue was 1.9 billion U...

SMIC announced that second-quarter revenue was 1.9 billion US dollars, up 8.6% month-on-month, up 21.8% year on year, and the market estimated 1.84 billion US dollars; net profit for the second quarter was 0.1646 billion US dollars, down 59% year on year, and the market estimated 76.3 million US dollars. According to SMIC, the monthly production capacity increased from about 814,500 8-inch wafers in the first quarter of 2024 to about the equivalent of 837,000 8-inch wafers in the second quarter of 2024. SMIC issued guidance for the third quarter of 2024. The expected IFRS guidelines are: revenue for the third quarter of 2024 is expected to increase 13% to 15% month-on-month, and gross margin is in the range of 18% to 20%. The Q2 gross margin was 13.9%, down 6.4 percentage points from 20.3% in the same period last year, and is expected to be 11.3%.