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%.…
CHINA BULLETIN: Economic Distress Signals Keep Coming
In this week’s issue the Middle Kingdom in the Middle East, Bill Gates goes to Beijing and Hong Kong welcomes yuan-based stock trading. On a scale of 1 to 100, we give the week a 50 for offshore-listed China stocks.
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…
FAST NEWS: Megvii Technology Chief Scientist Dead at 45
The latest: Sun Jian, the chief scientist and managing director of research at top China artificial intelligence (AI) company Megvii Technology Ltd., died at the age of 45 on June 14,…
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