SMIC second-quarter profit declined 19.5pc year-on-year

Semiconductor Manufacturing International Corp (0981), China’s largest contract chip maker, reported on Thursday a 19.5 percent year-on-year decline in second-quarter profit.

Profit attributable to owners of SMIC reached $132.5 million in the June quarter, missing analysts’ estimates of US$183.35 million (HK$1.43 billion), according to LSEG data.

Revenue rose 16.2 percent to US$2.2 billion, in line with market expectations of US$2.2 billion, according to LSEG.

REUTERS