SMIC’s 2024 revenue hits record high, but net profit declines

['Technode Feed', '.Wp-Block-Co-Authors-Plus-Coauthors.Is-Layout-Flow', 'Class', 'Wp-Block-Co-Authors-Plus', 'Display Inline', '.Wp-Block-Co-Authors-Plus-Avatar', 'Where Img', 'Height Auto Max-Width', 'Vertical-Align Bottom .Wp-Block-Co-Authors-Plus-Coauthors.Is-Layout-Flow .Wp-Block-Co-Authors-Plus-Avatar', 'Vertical-Align Middle .Wp-Block-Co-Authors-Plus-Avatar Is .Alignleft .Alignright'] TechNode 2025-03-28 00:00:00

On Thursday, Chinese chip foundry SMIC reported record-high annual revenue of RMB 57.8 billion ($8.07 billion), a 27.7% year-on-year increase. The gross margin was 18.6%, and capacity utilization stood at 85.6%, according to its 2024 fiscal year financial report. However, net profit attributable to shareholders fell 23.3% year-on-year to RMB 3.7 billion ($520 million), with earnings per share at RMB 0.46 ($0.064). The number of wafers sold, converted to an 8-inch standard, reached 8.021 million units, up 36.7% year-on-year, while the average selling price declined to RMB 6,639 ($927.31). SMIC’s management noted a 2024 recovery in the global semiconductor industry, driven by demand for intelligent and high-performance computing.