SMIC releases Q3 results: Net profit jumps 10times, 12nm process goes well

On the evening of November 12, SMIC reported Q3 results, with revenue of $816.5 million, up 4% yoy and down 3.2% from a year earlier, to a net profit of $84.626 million, up 1014% from $7.591 million a year earlier. In fact, SMIC’s q3 gross profit was down, rising 12.3 per cent from $170million, down 2.7 per cent year-on-year.

The net profit surge was mainly due to an operating loss of $5.828 million in the same period last year, q3 operating profit of $47.15 million, and other gains of $41.537 million, mainly due to the sale of the overseas Avezano fab, which boosted profits, with net profit attributable to shareholders of $115 million and net profit of $84.628 million.

SMIC releases Q3 results: Net profit jumps 10times 12nm

In terms of process, revenue as a percentage is 150/180nm (35.8%), 55/65nm (29.3%), 40/45nm (18.5%), 110/130nm (6.6%), 250/350nm (250/350nm) 4.2%, 28nm (4.3%), 90nm (1.3%), accounting for the largest number of mature 150/180nm, 55/65nm processes, the most advanced production of 28nm process accounted for only 4.3%, but compared with the previous quarter’s 2.8% has begun to grow.

On the technical side, SMIC Co-CEO, Dr. Zhao Navy and Dr. Liang Mengsong commented: After two years of accumulation, we not only further shorten the gap in advanced technology, but also at the same time fully expand the new mature technology platform, with the development of 5G terminal application wave into a new stage of development.

FinFET technology research and development continues to move forward: the first generation of FinFET has been successfully mass-produced, the fourth quarter will contribute meaningful revenue, the second generation of FinFET research and development is progressing steadily, customer imports are progressing smoothly.

SMIC’s first-generation FinFET process, which SMIC says is 14nm, will begin producing goods this quarter, although they have previously said large-scale shipments will not be available until 2021.

The second generation FinFET process should be an improved 12nm process, which is further reduced compared to the size of 14nm transistors, reduced power consumption by 20%, performance improvement by 10%, error rate reduced by 20%, is now imported by customers, there will be some streams at the end of the year.

According to SMIC said the progress, then the end of this year, the latest next year will have 12nm chip into production, this process level and Intel’s 14nm is a generation, with the international most advanced level is also a gap between the two generations.

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