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%.…
U.S. tightens noose on outbound investment in cutting-edge China tech
A new executive order by President Joe Biden is the latest step by Washington to choke off U.S. funding for Chinese startups in sensitive areas like AI and microchips Key…
Daylight ahead for China’s battered semiconductor sector?
Interim results from Chinese semiconductor companies suggest change for the better lies ahead for this group By Research-Select Major Chinese microchip maker Hua Hong Semiconductor Ltd. (1347.HK; 688347.SH) went…
FAST NEWS: SMIC Forecasts 15% Drop in Fourth-Quarter Revenue
The latest: Semiconductor Manufacturing International Corp. (SMIC)(0981.HK; 688981.SH) said Thursday it expects its revenue will fall 13% to 15% quarter-on-quarter in the fourth quarter, and its gross margin will range…
SMIC Warns of Industry Downturn as U.S. Sanctions Cloud Its Future
China’s top chipmaker’s second-quarter results matched market expectations, but it warned of a cyclical slowdown in the global semiconductor industry Key Takeaways: SMIC’s second-quarter revenue rose by 40% year-on-year and…
New Oriental Education Records Huge Loss, But Forges Ahead
China’s former leading private educator has revealed the huge costs it incurred in its first earnings report since a major industry reshuffle Key takeaways: New Oriental fell deeply into the…
New Oriental Eyes Chip Design, China Liberal Chases Higher Education
New moves by one of China’s oldest and one of its newest private educators reflect scramble to find new businesses after last year’s education cleanup Key Takeaways: New Oriental Education’s…
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