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SMIC profit falls 52%

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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