Semiconductor Manufacturing International Corp

00981: XHKG (HKG)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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SMIC Earnings: Heavy Investments and Stiff Competition Weigh on Outlook; Valuation Stays at HKD 14

Phelix Lee

Feb 12, 2025

SMIC's fourth-quarter 2024 revenue was no surprise at USD 2.21 billion, up 2% sequentially. Gross margin rose more than we expected by 215 basis points from the prior quarter to 22.6% due to higher prices from rush smartphone-related orders.

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Semiconductor Manufacturing International Corp

SMIC Earnings: Heavy Investments and Stiff Competition Weigh on Outlook; Valuation Stays at HKD 14

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