Semiconductor Manufacturing International Corporation (00981) had a net profit attributable to shareholders of $493 million in 2024, a decrease of 45.4% year-on-year.

Semiconductor Manufacturing International Corporation (00981) announced its unaudited performance for the three months ending December 31, 2024. Sales revenue for the fourth quarter of 2024 was 2.207 billion US dollars, compared to 2.171 billion US dollars in the third quarter of 2024 and 1.678 billion US dollars in the fourth quarter of 2023. The unaudited full-year net profit attributable to the company's owners in 2024 was 493 million US dollars, a decrease of 45.4% compared to 903 million US dollars in 2023, mainly due to a decrease in investment income and interest income for the year. The company expects a 6% to 8% quarter-on-quarter growth in revenue for the first quarter of 2025 under international financial reporting standards. The gross profit margin is expected to be between 19% and 21%. Management commentary: The company's fourth quarter sales revenue exceeded 2.2 billion US dollars, an increase of 1.7% compared to the previous quarter, with a gross profit margin of 22.6%, an increase of 2.1 percentage points quarter-on-quarter. Based on unaudited financial data, the company's sales revenue for 2024 was 80.3 billion US dollars, a year-on-year increase of 27%, with a gross profit margin of 18%. Capital expenditures for the company in 2024 were 7.33 billion US dollars, with a monthly production capacity of 948 thousand 8-inch standard logic wafers at year-end, total shipments exceeding 8 million wafers, and an average annual production capacity utilization rate of 85.6%. The company's guidance for the first quarter is: an increase in sales revenue of 6-8%, with a gross profit margin expected to be between 19% and 21%. Assuming no major changes in the external environment, the company's guidance for 2025 is: a sales revenue growth rate higher than the industry average, with capital expenditures expected to be roughly flat compared to the previous year.