香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性 亦不發表任何聲明，並明確表示，概不對因本文檔全部或任何部份內容而産生或因倚賴該等內容而引致 的任何損失承擔任何責任。 SEMICONDUCTOR MANUFACTURING INTERNATIONAL CORPORATION 中芯國際集成電路製造有限公司 * (於開曼群島注冊成立之有限公司) (股份代號：00981) 中芯國際截至 2022年 9月 30日 止三個月未經審核業績公佈 | --- | --- | |-------|-------------------------------------------------------------------------------------------------------------| | | | | | 除非以下額外說明，本合併財務信息係依國際財務報告準則編製且表達。 | | | 2022 年第三季的銷售收入為 1,907.0 百萬美元，相較於 2022 年第二季的 1,903.2 百萬美元增長 | | | 0.2% ，相較於 2021 年第三季的 1,41 ...

中芯國際集成電路製造有限公司" Semiconductor Manufacturing International Corporation ( 於 開 曼 群 島 註 冊 成 立 的 有限公司) 股 份 代 號 : 00981 ２０２２ 中期報告 * 僅供識別 目錄 | --- | --- | --- | |-------|--------|------------------------| | | | | | 2 | 第一節 | 釋義 | | 3 | 第二節 | 公司簡介和主要財務指標 | | 6 | 第三節 | 管理層討論與分析 | | 22 | 第四節 | 公司治理 | | 30 | 第五節 | 環境與社會責任 | | 34 | 第六節 | 重要事項 | | 46 | 第七節 | 股份變動及股東情況 | | 54 | 第八節 | 債券相關情況 | | 55 | 第九節 | 財務報告 | 重要提示 中芯國際 二零二二年 中報 0 1 一、 本公司董事會、董事及高級管理人員保證中期報告內容的真實性、準確性、完整性，不存在虛假記載、誤導性陳述或重大 遺漏，並承擔個別和連帶的法律責任。 二、 重大風險提示 公司 ...

Financial Data and Key Metrics Changes - In Q2 2022, the company's revenue was $1,903 million, a sequential increase of 3.3% and a year-over-year increase of 41.6% [2][4] - Gross margin was 39.4%, down 1.3 percentage points sequentially but up 9.3 percentage points year-over-year [2][4] - Operating profit was $539 million, a sequential increase of 0.6% and a year-over-year increase of 0.3% [2][4] - EBITDA reached a historical high of $1,220 million, with a sequential increase of 7.4% and a year-over-year increase of 3.7% [2][4] - Total assets at the end of Q2 were $40.5 billion, with total liabilities of $13.1 billion and total equity of $27.3 billion [3] Business Line Data and Key Metrics Changes - Revenue from the smartphone segment accounted for 25%, while smart home and consumer electronics contributed 16% and 24% respectively [7][9] - The smart home segment grew by 24% sequentially, driven by demand for wireless network routers [8][9] - Consumer electronics saw an 8% sequential growth due to increased demand for high-end analog MCU platforms [8][9] - The industrial segment grew by 18% sequentially, indicating robust demand in that area [8][9] Market Data and Key Metrics Changes - Revenue distribution by region remained stable, with mainland China and Hong Kong accounting for 69%, North America for 19%, and Europe and Asia for 12% [7][9] - The company noted a structural differentiation in demand across various application areas, with automotive electronics and green energy maintaining solid growth [6][8] Company Strategy and Development Direction - The company is strategically adjusting its production capacity to avoid oversupply in saturated markets, focusing on high-value products like power management and high-end MCUs [6][10] - The management emphasized the importance of flexibility in manufacturing lines to quickly respond to market changes [10][11] - The company plans to continue investing in capacity expansion while being cautious and market-driven [12][13] Management's Comments on Operating Environment and Future Outlook - The management highlighted that the semiconductor industry is currently facing a dual-cycle impact, with macroeconomic slowdown and an industry downturn [5][6] - They expect the structural shortage in certain segments to persist into the second half of the year, prompting adjustments in production capacity [12][13] - The management expressed confidence in the long-term growth of the domestic foundry market despite short-term adjustments [13] Other Important Information - Capital expenditures in the first half of the year totaled $2.5 billion, increasing monthly capacity by 53,000 8-inch wafers [12][13] - The company has a solid customer base and is optimizing its customer structure to enhance cooperation with top clients [11][12] Q&A Session Summary Question: Impact of cyclical adjustments on utilization - Management noted that the most significant impact is seen in the smartphone sector, where demand has dropped significantly due to high inventory levels [14][15] Question: Price environment and long-term agreements - The management indicated that while some prices may drop, long-term agreements (LTA) are expected to remain stable [16][17] Question: Company's response to the current down cycle - The management explained that the external economic downturn and internal oversupply are the main factors affecting the current cycle, with a focus on maintaining flexibility and readiness [18][19] Question: Future capital expenditure plans - The management stated that capital expenditure plans will remain stable and cautious, with a focus on long-term growth [28][29]

Financial Data and Key Metrics Changes - In Q1 2022, the company reported revenue of $1,842 million, a sequential increase of 16.6% and a year-over-year increase of 66.9% [4][5] - Gross margin for Q1 2022 was 40.7%, up 5.7 percentage points sequentially and 18 percentage points year-over-year [4][5] - Operating profit for Q1 2022 was $536 million, a sequential increase of 27.6% and a year-over-year increase of 330% [4][5] - The company expects Q2 2022 revenue to grow sequentially by 1% to 3% and gross margin to be between 37% and 39% [5][13] Business Line Data and Key Metrics Changes - Revenue by application for Q1 2022: smartphones (29%), smart homes (14%), consumer electronics (23%), and other electronics (34%), with growth of 10% to 30% across categories [12][13] - The share of smartphones and consumer electronics decreased, while smart homes and other categories increased, aligning with market demand and capacity allocation [12][13] Market Data and Key Metrics Changes - The company noted a structural shortage in semiconductor manufacturing capacity, despite a softening demand in consumer electronics [2][9] - Revenue distribution by region in Q1 2022: Mainland China and Hong Kong (68%), North America (19%), and Eurasia (13%), with growth in all regions [12][13] Company Strategy and Development Direction - The company aims to optimize product mix and pricing strategies to enhance average selling prices, which increased by 13% sequentially in Q1 2022 [11][12] - The company plans to continue its strategy of seeking progress in a stable manner, focusing on fulfilling customer commitments [15] Management Comments on Operating Environment and Future Outlook - Management highlighted that the impact of COVID-19 and geopolitical tensions has been mitigated, but the long logistics supply chain remains a challenge [15] - The company expects strong customer demand to persist, with capacity remaining tight throughout the year [15] Other Important Information - The company plans capital expenditures of approximately $32 billion for 2022, with a focus on expanding production capacity [7][8] - The company has implemented various measures to ensure production continuity amid pandemic challenges, including closed-loop operations and logistics management [11][27] Q&A Session Summary Question: What impact has COVID-19 had on sales and maintenance? - Management indicated that the postponement of annual maintenance (APM) could disrupt manufacturing for 5 to 6 days, affecting productivity [16][17] Question: How is the company managing production amid ongoing pandemic challenges? - The company is working to expedite manufacturing to recover lost capacity and has not canceled any customer orders, only delayed some deliveries [18][27] Question: What is the outlook for wafer pricing in the foundry industry? - The company anticipates that rising costs for materials and equipment will impact gross margins, but it is negotiating with customers to adjust pricing accordingly [29][30] Question: How is inventory management affecting customer orders? - Management noted that while some customers are reducing orders due to high inventory levels, demand for critical components remains strong [32][33]

Financial Performance - Semiconductor Manufacturing International Corporation reported a revenue of approximately $3.5 billion for the year 2021, representing a year-over-year increase of 29% compared to 2020[28]. - In 2021, the company's sales revenue increased from $3.9 billion to $5.4 billion, achieving a robust growth of approximately 38%[31]. - Total revenue for 2021 reached $5,443,112 thousand, a 39.3% increase from $3,906,975 thousand in 2020[40]. - The company achieved a revenue of $5,443.1 million in 2021, representing a year-on-year increase of 39.3%[58]. - The wafer foundry business revenue was $4,982.2 million, reflecting a growth of 43.4% year-on-year[58]. - The company reported a net profit attributable to shareholders for 2021 was $1,701,803 thousand, up 137.8% from $715,550 thousand in 2020[40]. - The company's net profit for 2021 reached $1,775,158 thousand, a significant increase from $669,098 thousand in 2020, representing a growth of approximately 165.7%[51]. - Operating cash flow for 2021 was $3,011,895 thousand, an increase of 81.4% compared to $1,660,410 thousand in 2020[40]. - The total comprehensive income for the year was $1,823,173 thousand, compared to $714,201 thousand in 2020, reflecting a growth of 155.5%[52]. Operational Efficiency - The company achieved a gross margin of 24.5% in 2021, up from 20.1% in the previous year, indicating improved operational efficiency[28]. - Gross margin improved to 30.8% in 2021, up 7.2 percentage points from 23.6% in 2020[42]. - The company maintained a full capacity utilization rate throughout 2021, indicating strong demand and operational efficiency[31]. - The company has a diversified customer base and product platforms, which have improved marginal benefits in advanced processes[31]. - The company maintained a high capacity utilization rate and expanded production capacity to address market demand[59]. Research and Development - Research and development expenses for 2021 were approximately $600 million, accounting for 17% of total revenue, reflecting the company's commitment to innovation[28]. - Research and development expenses for 2021 were $638,842 thousand, reflecting the company's commitment to innovation and technology advancement[52]. - Research and development expenses as a percentage of sales decreased by 5.6 percentage points to 11.7% in 2021 due to increased sales revenue[43]. - The company is focused on enhancing its R&D capabilities to support advanced process technologies and maintain competitive advantages[61]. - The company is focusing on developing low-power and high-performance technology platforms, with applications in IoT products and high-end display technologies[76][78]. Market Strategy and Expansion - The company plans to expand its production capacity by 30% over the next two years to meet increasing demand in the semiconductor market[28]. - The company plans to continue expanding production capacity and enhancing cooperation with customers and suppliers to meet market demands[32]. - The company aims to address structural shortages in the supply chain and balance existing and incremental demand in 2022, amidst a challenging external environment[32]. - The company is actively expanding its customer base through various marketing strategies, including direct communication and collaboration with design service companies and industry associations[65]. - The company aims to maintain its leading position in the semiconductor industry by investing in sustainable talent and capital resources[73]. Challenges and Risks - The company has faced export restrictions from the US, which may introduce uncertainty into its future performance[89]. - The company is at risk of technological obsolescence if it fails to keep pace with industry advancements and market demands[91]. - Supply chain risks are present due to reliance on a limited number of qualified suppliers for critical materials and equipment, which could impact production if shortages or delays occur[96]. - The ongoing COVID-19 pandemic poses risks to normal operations, with potential supply chain disruptions and increased procurement costs if the situation worsens[107]. - The company has been affected by ongoing US-China trade tensions, which have led to restrictions on its securities and related derivatives trading by US individuals[108]. Corporate Governance - The company has maintained a high level of corporate governance to protect shareholder interests[180]. - The company has adopted a set of corporate governance policies since January 25, 2005, which are regularly updated to comply with the corporate governance code[181]. - The board of directors includes a mix of executive and non-executive members, with a total of 8 directors, including 4 independent non-executive directors[199]. - The company emphasizes the importance of timely communication with shareholders and investors, committing to quarterly financial performance announcements approximately 45 days after each quarter-end[193]. - The company is committed to maintaining compliance with the Shanghai Stock Exchange's regulations regarding related party transactions[196].

Financial Data and Key Metrics Changes - In Q4 2021, the company achieved a record revenue of $1.58 billion, representing a sequential growth of 11.6% and a year-over-year growth of 61.1% [4] - The gross margin for Q4 2021 was 35%, up 1.9 percentage points sequentially and 17 percentage points year-over-year [4] - For the full year 2021, total revenue reached $5.443 billion, a year-over-year increase of 39.3% [5] - The operating margin for 2021 was 25.6%, up 17.6 percentage points year-over-year, while the net margin attributable to the company was 31.3%, up 13 percentage points year-over-year [5][6] Business Line Data and Key Metrics Changes - The company reported significant growth in mature technology platforms, particularly in high-voltage drivers, microcontrollers, ultra-low power logic, and specialty memory, which saw the fastest revenue growth [9][10] - The company added a monthly capacity of 100,000 wafers, equivalent to eight-inch wafers, and completed the main structure of the Beijing project in October 2021 [9] Market Data and Key Metrics Changes - The semiconductor industry faced a chip shortage in 2021, driven by structural incremental growth from industry upgrades and increased demand for remote connectivity due to the pandemic [7][8] - The company noted that while overall demand outstripped production capacity, some application areas experienced a slowdown in demand [3][8] Company Strategy and Development Direction - The company aims to dynamically balance existing and incremental demand while filling structural gaps in the supply chain, emphasizing compliance and deep integration into the global supply chain [3][4] - In 2022, the company plans to continue its capital expenditure at a peak level, with an estimated capital expenditure of over $5 billion [6][7] Management's Comments on Operating Environment and Future Outlook - Management indicated that 2022 will present both challenges and opportunities, with a focus on ensuring operational continuity and meeting customer demand amid a complex external environment [3][4] - The company expects revenue growth in 2022 to outperform the industry average, with gross margins projected to be higher than in 2021 [6][7] Other Important Information - The company’s total assets at the end of Q4 2021 were $36.1 billion, with total liabilities of $10.7 billion, including interest-bearing debt of $6.8 billion [4] - The company has maintained a negative net debt-to-equity ratio of 38% [5] Q&A Session Summary Question: What are the advantages and pricing trends for 2022? - Management discussed a forecasted revenue growth of 15% to 17% for Q1 2022, with ASP expected to increase due to a shift towards more advanced technologies [14][15] Question: How will the entity list impact production and future expansion? - The entity list has significantly impacted production operations, but the company has managed to maintain operational continuity through close collaboration with suppliers [21] Question: What measures are in place to ensure high capacity utilization amid rapid growth? - The company is focusing on flexible production capabilities across different nodes and maintaining a diverse product platform to adapt to market demands [29][30] Question: What is the expected depreciation pressure in relation to capacity expansion? - Management indicated that depreciation is expected to increase, but efforts are being made to balance this with revenue growth and margin stability [34][35]

SMIC 中芯國際集成電路製造有限公司* Semiconductor Manufacturing International Corporation ( 於 開 曼 群 島 註 冊 成 立 的有限公司) 股 份 代 號 : 00981 2021 中期報告 * 僅供識別 目錄 | --- | --- | --- | |-------|--------|------------------------| | | | | | 2 | 第一節 | 釋義 | | 3 | 第二節 | 公司簡介和主要財務指標 | | 6 | 第三節 | 管理層討論與分析 | | 24 | 第四節 | 公司治理 | | 33 | 第五節 | 環境與社會責任 | | 36 | 第六節 | 重要事項 | | 50 | 第七節 | 股份變動及股東情況 | | 62 | 第八節 | 債券相關情況 | | 63 | 第九節 | 財務報告 | 重要提示 一、 本公司董事會、董事及高級管理人員保證中期報告內容的真實、準確、完整，不存在虛假記載、誤導性陳述或重大遺 漏，並承擔個別和連帶的法律責任。 二、 重大風險提示 公司已在本報告中詳細闡述公司在生產經營 ...