Chinese microarray manufacturer SMIC sharply increased revenue

The largest Chinese microarray manufacturer Semiconductor Manufacturing International Corporation (SMIC) reported that sales revenue for the second quarter of the year reached a record high of $938.5 million, Xinhua News Agency reported on August 6. Revenue grew by 3.7% QoQ and 18.7% YoY. Gross profit between April and June soared 64.5% year-on-year, to $248.6 million or 6.4% quarterly. The company expects further growth in sales revenue in the third quarter, while growth relative to the second quarter of this year should be from 1 to 3%. Gross profit in the third quarter is expected to be 19 to 21% quarterly. SMIC, China's leading semiconductor producer, was listed on July 16 by Nasdaq's National Council for Science and Technology Innovation, known as STAR Market.