SMIC, the Beijing and Shanghai foundry company, saw 2017 revenues grow 6.4% to $3.1 billion but profits fall 52% to $180 million.
Apr. 03, 2018 –
Operating profit of $124.9 million was down from $339.2 million in 2016.
Gross margin slid to 23.9% in 2017 from 29.2% in 2016, due mainly to rising depreciation costs and lower capacity utilization rates.
SMIC shipped about 4.31 million 8-inch equivalent wafers in 2017, up 8.9% from 3.96 million units in 2016.
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