semiconductor manufact-adr (SMI) Key Developments
Semiconductor Manufacturing International Corp. Presents at HSBC Technology Day - Hong Kong, Feb-25-2014
Feb 22 14
Semiconductor Manufacturing International Corp. Presents at HSBC Technology Day - Hong Kong, Feb-25-2014 . Venue: Hong Kong.
Semiconductor Manufacturing International Corp. and Jiangsu Changjiang Electronics Technology Co., Ltd. Establish Joint Venture to Build China's Local IC Manufacturing Supply Chain
Feb 20 14
Semiconductor Manufacturing International Corp. and Jiangsu Changjiang Electronics Technology Co., Ltd. jointly announced a joint venture for 12" bumping and related testing. JCET will also build advanced back-end package production lines nearby. The two parties will use this as a base to jointly set up and develop an IC manufacturing supply chain within China to provide a high-quality, efficient and convenient one-stop-shop service for global customers focusing on the China market. Bumping is a necessity for wafer yield testing of advanced front-end IC manufacturing technologies, and the basis for the 3D wafer level packaging technology development. With the rapid growth of mobile market in China, and increasing adoption of advanced 40nm and 28nm process technologies, IC chips and their demand for bumping are anticipated to grow rapidly in the next few years. By establishing Bumping and nearby advanced flip-chip packaging capabilities, along with SMIC's front-end 28nm process technology offerings, the first complete 12" advanced IC manufacturing local supply chain in China will be formed. This supply chain can greatly reduce the cycle time between FEOL (Front-end of Line) and MEOL (Middle-end of Line) /BEOL (Back-end of Line), and effectively control the intermediate costs. More importantly, it is closer to the end market in China, therefore it can shorten the time to market for fabless customers while focusing on China's mobile market. Using this as a foundation, both sides will also strengthen the co-operation in the 3D wafer level packaging field.
Semiconductor Manufacturing International Corp. Presents at HSBC Technology Day- Singapore, Feb-24-2014
Feb 18 14
Semiconductor Manufacturing International Corp. Presents at HSBC Technology Day- Singapore, Feb-24-2014 . Venue: The Fullerton Hotel, Singapore, Singapore.
Semiconductor Manufacturing International Corp. Reports Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2013; Provides Earnings Guidance for the First Quarter and Capital Expenditure Guidance for the Fiscal Year 2014
Feb 17 14
Semiconductor Manufacturing International Corp. reported consolidated earnings results for the fourth quarter and year ended December 31, 2013. For the quarter, the company reported revenue of $491.8 million, an increase of 1.2 % year over year, and down 7.9% quarter over quarter. Non-GAAP revenue excluding wafer shipments from Wuhan Xinxin was $483.6 million, an increase of 10.6 % year over year, and down 4.0 % quarter over quarter. Profit from operations was $8.099 million against $51.688 million for the same period a year ago. Profit before tax was $15.855 million against $49.097 million for the same period a year ago. Profit attributable to the company was $14.681 million or $0.02 per basic and diluted ADS against $46.570 million or $0.07 per basic and diluted ADS for the same period a year ago. Net cash from operating activities was $205.437 million against $269.581 million for the same period a year ago. Capital expenditures were $114.3 million.
For the full year, the company reported revenue of $2.07 billion, an annual growth of 21.6% when compared to 2012. The company's net profit attributable to owners of the company also reached $173.2 million compared to $22.8 million in 2012, an increase of 6.6 times. Cash from operation increased 69.6%, from $435 million in 2012 to $738 million in 2013. Total CapEx for the year was $770 million.
For the first quarter of 2014, the company expects revenue to be down 5% to down 9% quarter over quarter [$440 million to $460 million]. This revenue guidance is given in relation to the revenue without wafer shipments from Wuhan Xinxin in fourth quarter of 2013. The company expects gross margin to be in range from 16% to 19%. Non-GAAP operating expenses excluding the effect of foreign exchange, employee bonus accrual, funding of R&D contracts from the government and gain from the disposal of living quarters are expected to range from $88 million to $92 million. Funding of R&D contracts from the government and other operating income is targeted to be around $15 million to $20 million in first quarter of 2014.
for the fiscal year 2014, the company's CapEx for foundry operation is planned to be approximately $880 million, of which around $570 million is for new Beijing project. In addition, the company budgeted in 2014 capital expenditure of non-foundry operation of approximately $110 million, mainly for the construction of living quarters.
Semiconductor Manufacturing International Corporation Announces Executive Changes
Feb 17 14
The board of directors of Semiconductor Manufacturing International Corporation (SMIC) announced that Dr. Gao Yonggang, the Executive Vice President of Strategic Planning and an executive Director, has been appointed as the Chief Financial Officer (CFO) of the company with effect from 17 February 2014. Dr. Gao will have the company's overall financial and accounting responsibilities. Dr. Gao was appointed as a non-executive Director in 2009 and has been re-designated as an executive Director since 17 June 2013. Prior to joining the company in 2013, Dr. Gao was the CFO of the China Academy of Telecommunications Technology, the Chairman of Datang Capital (Beijing) Co. Ltd. and Datang Telecom Group Finance Co. Ltd., and an executive director of Datang Hi –Tech Venture Capital Investment Co. Ltd. Upon Dr. Gao's new appointment, Mr. Gareth Kung has ceased to act as the CFO of the company and has been re-designated as an Executive Vice President of Finance of the company assisting CFO, Dr. Gao, with effect from 17 February 2014 and will continue to act as the Company Secretary of the company.