SMIC's 2024 Profit Slides 45%; Hong Kong Shares Fall 4%

MT Newswires Live

2025/03/28

Semiconductor Manufacturing International or SMIC's (HKG:0981, SHA:688981) attributable profit fell 45% to $492.7 million in 2024 from $902.5 million in 2023, according to a Thursday filing with the Hong Kong bourse.

Earnings per share at the computer chip manufacturer decreased 46% to $0.06 from $0.11 in the previous year.

Revenue grew 27% to $8.03 billion from $6.32 billion a year earlier.

Shares fell 4% in Hong Kong during Friday's afternoon trading.

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