Semiconductor Manufacturing International Corp (SMIC), China’s largest chip manufacturer, said on Tuesday, 12, that its profit in 2024 showed a 45.4% drop from the previous year. The result occurs amid a scenario of commercial tensions between Beijing and Washington.
According to a document sent to the Hong Kong Stock Exchange, the non -audited profit attributed to the company’s owners was $ 492.7 million by 2024, below the US $ 902.5 million recorded by 2023. SMIC attributed the fall reducing investment income and financial income.
In the fourth quarter of 2024, the company registered a profit of US $ 107.6 million, which represents a 38.4% reduction over the same period of the previous year.
Despite the drop in profit, SMIC’s revenue showed growth. In the fourth quarter, revenue increased by 31.5%, reaching US $ 2.2 billion. In accumulated of the year, the unprecedented revenue totaled US $ 8 billion, exceeding US $ 6.3 billion registered in 2023.
With information from SCMP
Source: https://www.ocafezinho.com/2025/02/12/smic-registra-queda-brutal-no-lucro-de-2024-em-meio-a-guerra-comercial-dos-eua-contra-a-china/
