Press Releases



All currency figures stated in this report are in US Dollars unless stated otherwise.
The consolidated financial information is prepared in accordance with International Financial Reporting Standards (“IFRS”) and is presented in accordance with IFRS unless otherwise stated below.

Shanghai, China –November 9, 2023 – Semiconductor Manufacturing International Corporation (SEHK: 00981; SSE STAR MARKET: 688981) (“SMIC”, the “Company” or “we”), one of the leading semiconductor foundries in the world, today announced its consolidated results of operations for the three months ended September 30, 2023.

Third Quarter 2023 Highlights

  • Revenue was $1,620.6 million in 3Q23, compared to $1,560.4 million in 2Q23, and $1,907.0 million in 3Q22.
  • Gross profit was $321.6 million in 3Q23, compared to $316.5 million in 2Q23, and $742.2 million in 3Q22.
  • Gross margin was 19.8% in 3Q23, compared to 20.3% in 2Q23 and 38.9% in 3Q22.

The following statements are forward looking statements based on current expectations and involved risks and uncertainties.

Fourth Quarter 2023 Guidance

The Company expects (in accordance with IFRS):

  • Revenue to increase by 1% to 3% QoQ.
  • Gross margin to range from 16% to 18%.

The Management Comments

The third quarter’s revenue of this year was $1.62 billion, up 3.9% sequentially, which was at the midpoint of the guidance; gross margin was 19.8%, down 0.5 percentage points from the previous quarter. The company’s overall shipments continued to increase, up 9.5% sequentially. Due to the total capacity as the denominator, increased to 796 thousand wafers, the average utilization rate decreased by 1.2 percentage points to 77.1%.

The Company expects the fourth quarter’s revenue to grow by 1%~3% sequentially; the gross margin will continue to be under pressure from the depreciation of the new capacity, which is expected to be in the range of 16~18%.

The whole year’s capital expenditure is expected to be revised upwards to around $7.5 billion.

Conference Call / Webcast Announcement

Date: Friday, November 10, 2023

Time: 8:30 A.M. - 9:30 A.M.


The call will be webcast live at:


Please register in advance for the conference call at:


Recording will be available 1 hour after the event and it will be archived for 12 months.


About SMIC

Semiconductor Manufacturing International Corporation (SEHK: 00981; SSE STAR MARKET: 688981) and its subsidiaries is one of the leading foundries in the world and is the front runner in manufacturing capability, manufacturing scale, and comprehensive service in the Chinese Mainland. SMIC Group provides semiconductor foundry and technology services to global customers on 0.35 micron to FinFET process node technologies. Headquartered in Shanghai, China, SMIC Group has an international manufacturing and service base, with three 8-inch wafer fabrication facilities (“fabs”) and four 12-inch fabs in Shanghai, Beijing, Tianjin and Shenzhen, and three 12-inch fabs under construction in Shanghai, Beijing and Tianjin. SMIC Group also has marketing and customer service offices in the U.S., Europe, Japan, and Taiwan, China, and a representative office in Hong Kong, China.

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Forward-Looking Statements

This release contains, in addition to historical information, forward-looking statements. These forward-looking statements are based on SMIC's current assumptions, expectations, beliefs, plans, objectives, and projections about future events or performance. SMIC uses words including but not limited to “believe”, “anticipate”, “intend”, “estimate”, “expect”, “project”, “target”, “going forward”, “continue”, “ought to”, “may”, “seek”, “should”, “plan”, “could”, “vision”, “goal”, “aim”, “aspire”, “objective”, “schedule”, “outlook” and other similar expressions to identify forward looking statements. These forward-looking statements are estimates made by SMIC's senior management based on their best judgment and involve significant risks, both known and unknown, uncertainties and other factors that may cause SMIC's actual performance, financial condition or results of operations to be materially different from those suggested by the forward-looking statements including, among others, risks associated with cyclicality and market conditions in the semiconductor industry, intense competition in the semiconductor industry, timely wafer acceptance by SMIC's customers, timely introduction of new technologies, SMIC's ability to ramp new products into volume, supply and demand for semiconductor foundry services, shortages in equipment, parts, raw materials, software and theirservice supports, orders or judgments from pending litigation, intellectual property litigation in the semiconductor industry, general economic conditions, fluctuations in currency exchange rates and the risk of geopolitics.

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