Semiconductor manufacturer SMIC with good Q1 figures
SMIC's first-quarter revenue rose to USD 1.1B (22% YoY). Second-quarter sales are expected to grow 17% to 19% to USD 2.4B. Profit reached USD 250M (7% YoY) in the first quarter. With government support, SMIC is a major player in China's efforts to strengthen domestic semiconductor manufacturing, and growth is expected to continue as the company invests heavily in new equipment.
This briefing is contributed by and first appeared on CIMK.
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