Details: Its first quarter financial results place SMIC second among the world’s wafer foundries, albeit with a considerable gap to TSMC, which reported a revenue of $18.262 billion for the same period. In the first quarter, SMIC shipped 1.79 million units of 8-inch wafers, a 7% increase compared to the previous quarter. SMIC told Jiemian that this net profit decline was primarily due to shifts in product assortment, depreciation, and diminished investment returns. Efforts are underway to coordinate orders from lower-priority customers for delayed processing, and the 12nm chip production line is almost at full capacity, Zhao said. By 2028, AI chip orders are expected to contribute over 20% to the company’s total revenue.