SMIC's net profit in the first quarter of 2023 was 1.591 billion yuan, down 44% from the same period last year.

Thank you, Mr. Air, CTOnews.com netizens, and Daniel Wu for your clue delivery! CTOnews.com May 11 news, SMIC today released the first quarter 2023 report, first-quarter operating income of 10.209 billion yuan, down 13.9% from the same period last year; homed net profit of 1.591 billion yuan, down 44% from the same period last year; basic earnings per share of 0.20 yuan. CTOnews.com attached the main financial data as follows:

SMIC said the decline in net profit was mainly due to lower wafer sales and lower capacity utilization.

The announcement also said that in the first quarter, the company's sales revenue was slightly better than the guidance, and the gross profit margin was at the top of the guidance; in the second quarter, the company expects capacity utilization and shipments to be higher than in the first quarter, and sales revenue is expected to grow by 5% to 7% month-on-month. The average wafer unit price is affected by changes in the product portfolio; gross profit margin is expected to be between 19% and 21%.

At present, SMIC Shenzhen has entered mass production, SMIC Capital is expected to enter mass production in the second half of the year, SMIC Oriental is expected to open line by the end of the year, SMIC Xiqing is still under construction.