Chips

Semiconductor Manufacturing International Corp. (SMIC)(0981.HK; 688981.SH) on Thursday reported a 68.9% year-on-year drop in its third-quarter profit to $71.79 million.

FAST NEWS: SMIC forecasts continued gross margin decline

The Latest: Semiconductor Manufacturing International Corp. (SMIC)(0981.HK; 688981.SH) on Thursday reported a 68.9% year-on-year drop in its third-quarter profit to $71.79 million, as its gross margin plunged by 7.1 percentage points to 13.7%.…
0981.HK 688981.SHG
Semiconductor Manufacturing International Corp. on Thursday reported a 76.7% year-on-year drop in its third-quarter profit to $93.98 million, as its gross margin plummeted by 19.1 percentage points to 19.8%.

FAST NEWS: SMIC’s gross margin plunges, with no bottom in sight

The latest: Semiconductor Manufacturing International Corp. (SMIC)(0981.HK; 688981.SH) on Thursday reported a 76.7% year-on-year drop in its third-quarter profit to $93.98 million, as its gross margin plummeted by 19.1 percentage points…
0981.HK 688981.SHG
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SMIC expects third-quarter revenue to grow 3% to 5% quarter on quarter, but predicts a seventh straight quarterly fall in gross margin to between 18% and 20%.

Weak electronics demand squeezes SMIC margins

China’s leading semiconductor manufacturer faces continued earnings pressure as the U.S. tightens sanctions and global demand for consumer electronics falters Key Takeaways: SMIC expects third-quarter revenue to grow 3% to…
0981.HK 688981.SHG

CHINA BULLETIN: GDP Data Magically Reappears

In this week’s issue GDP growth rebounds, but microchips and China stocks end up losers. On a scale of 1 to 10, we give the week a 2.5 for offshore-listed China stocks.

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