SMIC's Q1 2021: Revenue Reaches USD 1.1 Bn, Higher Than Expected

Technology Author: 苑晶铭 Editor: 张宇喆 May 14, 2021 09:20 AM (GMT+8)

On the evening of May 13, SMIC announced its financials Q1 2021, which shows that revenue climbed by 22% to USD 1.1 billion, while net profit jumped 145% to USD 158.9 million, higher than the market expectation of USD 104 million as well as an optimistic prediction on H1 2021. 

SMIC International

  • Gross profit reached USD 250.1 million, a jump of 41.5% compared with USD 176.8 million in Q4 2020, and an increase of 7.1% compared with USD 233.6 million in Q1 2020. 

  • Gross profit rate was 22.7%, declined from 25.8% in Q1 2020, but recovered from 18.0% in 4Q 2020. 

  • SMIC expects revenue of about USD 2.4 billion in the first half of this year, revenue growth of 17% to 19% in the second quarter, and gross profit margin of 25% to 27%.

  • Revenue from the domestic market reached 55.6%, while Eurasia accounted for 16.7% of the total revenue.

  • SMIC's revenue is accounted for 35.2% by smartphones, 13.9% by smart home, 20.4% by consumer electronics and 30.5% by others. 

  • Wafer foundry accounted for 91.2% of revenue, while mask manufacturing, wafer testing and other aspects accounted for 8.8% of the total, down from 11% in the previous quarter.

  • 28nm and 14nm processes accounted for 6.9% of revenue, while 150 / 180nm for 30.3%, 55 / 65nm for 32.8%, 40 / 45nm for 16.3%, 110 / 130nm for 6%, 250 / 350nm for 3.6% and 90nm for 4.1%.

  • SMIC's monthly wafer production capacity increased from 520,000 8-inch wafers in the fourth quarter of 2020 to 540,000 wafers in the first quarter of 2021, mainly due to the capacity expansion of the 200 mm wafer plant.

  • "The company's performance in the first half of the year is expected to exceed earlier expectations," commented Dr. Zhao Haijun and Dr. Liang Mengsong, co-CEOs of SMIC, "Mature production will continue to be full by the end of this year, and new capacity will be built mainly in the second half of this year."

  • Gao Yonggang, the chief financial officer of SMIC, commented: "the whole market is developing in a positive way this year. The company should have continued the rapid growth trend of last year if not blacklisted by the American government. The company still faces uncertain risks in the second half of this year."