SMIC-中芯国际(00981) - 2024 Q4 - 季度业绩

Financial Performance - In Q4 2024, the company's sales revenue was $2,207.3 million, a 1.7% increase from Q3 2024 and a 31.5% increase from Q4 2023[5]. - The gross profit for Q4 2024 was$ 499.0 million, up 12.3% from Q3 2024 and up 81.5% from Q4 2023[5]. - The gross margin for Q4 2024 was 22.6%, compared to 20.5% in Q3 2024 and 16.4% in Q4 2023[5]. - The unaudited full-year sales revenue for 2024 was $8,029.9 million, a 27% increase compared to$ 6,321.6 million in 2023[5]. - The unaudited profit attributable to shareholders for 2024 was $492.7 million, a decrease of 45.4% from$ 902.5 million in 2023, primarily due to declines in investment and financial income[5]. - The net profit for Q4 2024 was $270.9 million, a 21.4% increase from Q3 2024 and a 14.2% increase from Q4 2023[16]. - The company reported a net income of$ 270.9 million for Q4 2024, with an EBITDA of $1,279.9 million, reflecting a profit margin of 12.3%[26]. - The net profit for the three months ending December 31, 2024, was$ 270,946, compared to $223,270 for the previous quarter, representing a growth of approximately 21.3%[44]. - Net profit for Q4 2024 was$ 270,946 thousand, compared to $223,270 thousand in Q3 2024, representing a growth of 21.3%[35]. Sales and Shipment - Q4 2024 wafer sales totaled 1,991,761 units, a decrease of 6.1% from Q3 2024, but an increase of 18.9% year-over-year[20]. - The company’s revenue from the China region accounted for 89.1% of total revenue in Q4 2024, up from 86.4% in Q3 2024[18]. Capital Expenditures and Utilization - The company reported a capital expenditure of$ 7,333 million for 2024, with an average capacity utilization rate of 85.6%[7]. - Q4 2024 capital expenditures amounted to $1,660.1 million, significantly higher than Q3 2024's$ 1,178.8 million, with total capital expenditures for 2024 projected at approximately $7.33 billion[21]. - The total shipment volume for 2024 exceeded 8 million wafers, with an end-of-year capacity of 948,000 8-inch equivalent wafers per month[7]. Cash Flow and Liquidity - Cash and cash equivalents increased to$ 6,364,189 thousand in Q4 2024 from $3,651,385 thousand in Q3 2024, representing a growth of 74%[30]. - Operating cash flow net income for Q4 2024 was$ 1,449,842 thousand, up from $1,236,416 thousand in Q3 2024, an increase of 17.2%[32]. - The cash ratio improved to 0.7 in Q4 2024, compared to 0.5 in Q3 2024, indicating better liquidity management[27][28]. - The net cash generated from operating activities increased to$ 1,449,842 from $1,236,416, reflecting a rise of about 17.2%[44]. - The net cash used in investing activities improved to$ (207,300) from $(1,345,115), showing a reduction in cash outflow by about 84.6%[44]. - The company reported a net cash inflow from financing activities of$ 1,614,792, compared to a net cash outflow of $(97,009) in the previous quarter[44]. Debt and Equity - Total debt to equity ratio improved to 36.4% in Q4 2024 from 33.1% in Q3 2024, indicating a stronger capital structure[30]. - The company reported a net debt of$ (3,367,023) thousand in Q4 2024, compared to $(2,237,335) thousand in Q3 2024, indicating a decrease in net debt[30]. - Borrowings increased significantly to$ 1,658,024 from $127,683, marking a substantial rise of approximately 1202.5%[44]. Research and Development - Research and development expenses increased to$ 217,035 thousand in Q4 2024 from $179,386 thousand in Q3 2024, a rise of 21%[35]. Other Income and Expenses - Other income for Q4 2024 was$ 140.8 million, a 92.9% increase from Q3 2024's $73.0 million[24]. - Q4 2024 operating expenses were$ 284.5 million, up 3.7% from Q3 2024, primarily due to increased expenses related to new plant operations[23].