All currency figures stated in this report are in US Dollars unless stated otherwise.
The consolidated financial information is prepared in accordance with International Financial Reporting Standards (“IFRS”) and is presented in accordance with IFRS unless otherwise stated below.

Shanghai, China –February 11, 2025 – Semiconductor Manufacturing International Corporation (SEHK: 00981; SSE STAR MARKET: 688981) (“SMIC”, the “Company” or “we”), one of the leading semiconductor foundries in the world, today announced its consolidated results of operations for the three months ended December 31, 2024.

Fourth Quarter 2024 Highlights

• Revenue was $2,207.3 million in 4Q24, compared to $2,171.2 million in 3Q24, and $1,678.3 million in 4Q23.
• Gross profit was $499.0 million in 4Q24, compared to $444.2 million in 3Q24, and $275.0 million in 4Q23.
• Gross margin was 22.6% in 4Q24, compared to 20.5% in 3Q24 and 16.4% in 4Q23. 
• Unaudited revenue was $8,029.9 million in 2024, compared to $6,321.6 million in 2023.
• Unaudited profit attributable to owners of the Company was $492.7 million in 2024, a decrease of 45.4% from $902.5 million in 2023, mainly due to the decrease of investment income and financial income.

The following statements are forward looking statements based on current expectations and involved risks and uncertainties.

First Quarter 2025 Guidance

The Company expects (in accordance with IFRSs):

• Revenue toincrease by 6% to 8% QoQ.
• Gross margin to range from 19% to 21%.

The Management Comments

The Company's revenue in the fourth quarter increased by 1.7% sequentially to exceed $2.2 billion. Gross margin increased by 2.1 percentage points sequentially to 22.6%.

According to the unaudited financial results, the Company’s revenue in 2024 increased by 27% year-over-year to $8.03 billion, and gross margin was 18%. The Company’s capital expenditure in 2024 was $7.33 billion. Monthly capacity was 948 thousand standard logic 8-inch equivalent wafers by the end of the year. Total wafer shipment exceeded 8 million and annualized capacity utilization rate was 85.6%.

The Company’s first quarter guidance is as follows: revenue is expected to grow 6% to 8% sequentially, and the gross margin is expected to be in the range of 19% to 21%.

Based on the premise that there are no significant changes in the external environment, the Company's guidance for the year 2025 is: the revenue growth is expected to be higher than industry average in the same markets. The capital expenditure is expected to maintain roughly flat compared to that of previous year.

Conference Call / Webcast Announcement

Date: Wednesday, February 12, 2025

Time: 8:30 A.M. - 9:30 A.M.

WEBCAST

The call will be webcast live at:

https://edge.media-server.com/mmc/p/ibhnk4ps

CONFERENCE CALL

Please register in advance for the conference call at:

https://register.vevent.com/register/BIb8860a75a7634636b8d789d5bc063b86

REPLAY

Recording will be available 1 hour after the event and it will be archived for 12 months.

https://www.smics.com/tc/site/company_financialSummary

About SMIC

Semiconductor Manufacturing International Corporation (SEHK: 00981; SSE STAR MARKET: 688981) is one of the leading foundries in the world and is the front runner in manufacturing capability, manufacturing scale, and comprehensive service in the Chinese Mainland. SMIC Group provides semiconductor foundry and technology services to global customers on 8-inch and 12-inch wafers. Headquartered in Shanghai, China, SMIC Group has an international manufacturing and service base, with 8-inch and 12-inch wafer fabrication facilities in Shanghai, Beijing, Tianjin and Shenzhen. SMIC Group also has marketing and customer service offices in the U.S., Europe, Japan, and Taiwan, China.

For more information, please visit www.smics.com.

Forward-Looking Statements

This release contains, in addition to historical information, forward-looking statements. These forward-looking statements are based on SMIC's current assumptions, expectations, beliefs, plans, objectives, and projections about future events or performance. SMIC uses words including but not limited to “believe”, “anticipate”, “intend”, “estimate”, “expect”, “project”, “target”, “going forward”, “continue”, “ought to”, “may”, “seek”, “should”, “plan”, “could”, “vision”, “goal”, “aim”, “aspire”, “objective”, “schedule”, “outlook” and other similar expressions to identify forward looking statements. These forward-looking statements are estimates made by SMIC's senior management based on their best judgment and involve significant risks, both known and unknown, uncertainties and other factors that may cause SMIC's actual performance, financial condition or results of operations to be materially different from those suggested by the forward-looking statements including, among others, risks associated with cyclicality and market conditions in the semiconductor industry, intense competition in the semiconductor industry, timely wafer acceptance by SMIC's customers, timely introduction of new technologies, SMIC's ability to ramp new products into volume, supply and demand for semiconductor foundry services, shortages in equipment, parts, raw materials, software and service supports, orders or judgments from pending litigation, intellectual property litigation in the semiconductor industry, macro- economic conditions, fluctuations in currency exchange rates and the risk of geopolitics.

Contact:
Investor Relations
+86-21-2081-2800
ir@smics.com