Announcement • Jun 30
Semiconductor Manufacturing International Corporation to Report First Half, 2026 Results on Aug 28, 2026 Semiconductor Manufacturing International Corporation announced that they will report first half, 2026 results on Aug 28, 2026 Announcement • Jun 25
Semiconductor Manufacturing International Corporation (SEHK:981) completed the acquisition of the remaining 49% stake in Semiconductor Manufacturing North China (Beijing) Corporation from a group of shareholders. Semiconductor Manufacturing International Corporation (SEHK:981) signed asset purchase intent agreement to acquire the remaining 49% stake in Semiconductor Manufacturing North China (Beijing) Corporation from a group of shareholders for CNY 65.2 billion on August 29, 2025. The transaction is subject to approval by regulatory board / committee, approval of merger agreement by the board of directors and shareholders of Semiconductor Manufacturing International Corporation.
As of August 31, 2025 Semiconductor Manufacturing North China (Beijing) Corporation reported total assets of CNY 45.28 billion.
The transaction was reviewed and approved by the board of directors of Semiconductor Manufacturing International Corporation on September 8, 2025. Acquisition agreement was signed on September 8, 2025. Supplemental agreement was signed on December 29, 2025.The transaction has obtained the principal opinions of shareholders holding more than 5% of Semiconductor Manufacturing International Corporation. The Sellers have completed the necessary internal authorizations or approvals required at the current stage. The transaction is subject to approval from Internal authorities of the transaction counterparties, Necessary approval procedures of the Hong Kong Stock Exchange, The transaction will be reviewed and approved by the Shanghai Stock Exchange and registered with the China Securities Regulatory Commission or any other approvals required by relevant authorities under Chinese law. An Independent Board Committee comprising Dr. Fan Ren Da Anthony, Professor Liu Ming, Academician Wu Hanming, and Professor Chen Xinyuan has been established by Semiconductor Manufacturing International Corporation to advise the Independent Shareholders. As of April 8, 2026, Approvals obtained from Approval of the transaction plan from State-owned assets supervision authorities, All necessary internal authorizations or approvals necessary in this stage and necessary approval procedures from Hong Kong Stock Exchange.
Rainbow Capital (HK) Limited acted as financial advisor to Semiconductor Manufacturing International Corporation. Guotai Haitong Securities Co., Ltd. acted as independent financial consultant. Yang Jiwei, Lu Qingchua and Zhong Hang of AllBright Law Offices acted as legal advisor for Semiconductor Manufacturing International Corporation. Meng Dong and Wang Chen of Ernst & Young Hua Ming LLP acted as accountant for Semiconductor Manufacturing International Corporation. Xu Yixiao, Su Dongyi acted as project organizers.
Semiconductor Manufacturing International Corporation (SEHK:981) completed the acquisition of the remaining 49% stake in Semiconductor Manufacturing North China (Beijing) Corporation from a group of shareholders on June 25, 2026. Announcement • Jun 03
Semiconductor Manufacturing International Corporation, Annual General Meeting, Jun 26, 2026 Semiconductor Manufacturing International Corporation, Annual General Meeting, Jun 26, 2026, at 14:00 China Standard Time. Location: building 5, no.39 zhangjiang road, pu dong new area, shanghai China Announcement • Mar 30
Semiconductor Manufacturing International Corporation to Report Q1, 2026 Results on Apr 30, 2026 Semiconductor Manufacturing International Corporation announced that they will report Q1, 2026 results on Apr 30, 2026 Announcement • Mar 16
Semiconductor Manufacturing International Corporation to Report Fiscal Year 2025 Results on Mar 26, 2026 Semiconductor Manufacturing International Corporation announced that they will report fiscal year 2025 results on Mar 26, 2026 Announcement • Feb 12
Semiconductor Manufacturing International Corporation Provides Earnings Guidance for the First Quarter 2026 Semiconductor Manufacturing International Corporation provided earnings guidance for the first quarter 2026. For the first quarter 2026, the company guidance are as follows: Revenue is expected to be flat sequentially, and gross margin is expected to be in the range of 18% to 20%. Announcement • Dec 26
Semiconductor Manufacturing International Corporation to Report Fiscal Year 2025 Results on Mar 27, 2026 Semiconductor Manufacturing International Corporation announced that they will report fiscal year 2025 results on Mar 27, 2026 Announcement • Sep 30
Semiconductor Manufacturing International Corporation to Report Q3, 2025 Results on Nov 14, 2025 Semiconductor Manufacturing International Corporation announced that they will report Q3, 2025 results on Nov 14, 2025 Announcement • Aug 18
Semiconductor Manufacturing International Corporation to Report First Half, 2025 Results on Aug 28, 2025 Semiconductor Manufacturing International Corporation announced that they will report first half, 2025 results on Aug 28, 2025 Announcement • Jun 30
Semiconductor Manufacturing International Corporation to Report First Half, 2025 Results on Aug 29, 2025 Semiconductor Manufacturing International Corporation announced that they will report first half, 2025 results on Aug 29, 2025 Announcement • Jun 24
Semiconductor Manufacturing International Corporation(SHSE:688981) dropped from Shanghai Stock Exchange 180 Value Index Semiconductor Manufacturing International Corporation has been removed from Shanghai Stock Exchange 180 Value Index. Announcement • Jun 04
Semiconductor Manufacturing International Corporation, Annual General Meeting, Jun 27, 2025 Semiconductor Manufacturing International Corporation, Annual General Meeting, Jun 27, 2025, at 14:00 China Standard Time. Location: conference center, 18 zhangjiang road, pu dong new area, shanghai, prc., China Announcement • Mar 28
Semiconductor Manufacturing International Corporation to Report Q1, 2025 Results on May 09, 2025 Semiconductor Manufacturing International Corporation announced that they will report Q1, 2025 results on May 09, 2025 Announcement • Jan 24
Semiconductor Manufacturing International Corporation to Report Q4, 2024 Results on Feb 11, 2025 Semiconductor Manufacturing International Corporation announced that they will report Q4, 2024 results on Feb 11, 2025 Announcement • Dec 27
Semiconductor Manufacturing International Corporation to Report Fiscal Year 2024 Results on Mar 28, 2025 Semiconductor Manufacturing International Corporation announced that they will report fiscal year 2024 results on Mar 28, 2025 Reported Earnings • Nov 08
Third quarter 2024 earnings released: EPS: CN¥0.13 (vs CN¥0.087 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.13 (up from CN¥0.087 in 3Q 2023). Revenue: CN¥16.3b (up 38% from 3Q 2023). Net income: CN¥1.05b (up 53% from 3Q 2023). Profit margin: 6.4% (up from 5.8% in 3Q 2023). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 7.7% growth forecast for the Semiconductor industry in Germany. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Oct 14
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to €2.96, the stock trades at a forward P/E ratio of 36x. Average forward P/E is 13x in the Semiconductor industry in Germany. Total returns to shareholders of 25% over the past three years. New Risk • Oct 02
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 11% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (11% average weekly change). High level of non-cash earnings (23% accrual ratio). Minor Risk Profit margins are more than 30% lower than last year (7.3% net profit margin). Announcement • Sep 30
Semiconductor Manufacturing International Corporation to Report Q3, 2024 Results on Nov 08, 2024 Semiconductor Manufacturing International Corporation announced that they will report Q3, 2024 results on Nov 08, 2024 Valuation Update With 7 Day Price Move • Sep 27
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to €1.99, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 13x in the Semiconductor industry in Germany. Total loss to shareholders of 16% over the past three years. Announcement • Sep 27
Semiconductor Manufacturing International Corporation Appoints Wu Hanming as Member of Audit Committee The board of directors of Semiconductor Manufacturing International Corporation announced that Academician Wu Hanming, an independent non-executive Director, has been appointed as a member of the audit committee of the Board with effect from 27 September 2024. Following the appointment of Academician Wu Hanming as a member of the Audit Committee, the Audit Committee comprises three members. Valuation Update With 7 Day Price Move • Sep 11
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to €1.99, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 12x in the Semiconductor industry in Germany. Total loss to shareholders of 17% over the past three years. Reported Earnings • Aug 09
Second quarter 2024 earnings released: EPS: US$0.021 (vs US$0.051 in 2Q 2023) Second quarter 2024 results: EPS: US$0.021 (down from US$0.051 in 2Q 2023). Revenue: US$1.90b (up 22% from 2Q 2023). Net income: US$164.6m (down 59% from 2Q 2023). Profit margin: 8.7% (down from 26% in 2Q 2023). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 8.6% growth forecast for the Semiconductor industry in Germany. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Announcement • Aug 09
Semiconductor Manufacturing International Corporation to Report First Half, 2024 Results on Aug 29, 2024 Semiconductor Manufacturing International Corporation announced that they will report first half, 2024 results on Aug 29, 2024 Announcement • Jul 26
Semiconductor Manufacturing International Corporation to Report Q2, 2024 Results on Aug 08, 2024 Semiconductor Manufacturing International Corporation announced that they will report Q2, 2024 results After-Market on Aug 08, 2024 Board Change • Jul 02
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Hanming Wu was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Jun 28
Semiconductor Manufacturing International Corporation Announces Retirement of Lau Lawrence Juen-Yee as an Independent Non-Executive Director and Member of Each of the Audit Committee, the Compensation Committee, the Nomination Committee and the Strategic Committee of the Board Semiconductor Manufacturing International Corporation at its AGM held on June 28, 2024 announced that Professor Lau Lawrence Juen-Yee has retired as an independent non-executive Director, and ceased to be a member of each of the audit committee, the compensation committee, the nomination committee and the strategic committee of the Board with effect from the conclusion of the AGM. Valuation Update With 7 Day Price Move • Jun 01
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to €2.12, the stock trades at a forward P/E ratio of 36x. Average forward P/E is 15x in the Semiconductor industry in Germany. Total loss to shareholders of 14% over the past three years. Announcement • May 10
Semiconductor Manufacturing International Corporation Provides Earnings Guidance for the Second Quarter of 2024 Semiconductor Manufacturing International Corporation provided earnings guidance for the second quarter of 2024. For the quarter, the company expects (in accordance with IFRSs): revenue to increase by 5% to 7% quarter on quarter. Reported Earnings • May 10
First quarter 2024 earnings released First quarter 2024 results: Revenue: US$1.75b (up 20% from 1Q 2023). Net income: US$71.8m (down 69% from 1Q 2023). Profit margin: 4.1% (down from 16% in 1Q 2023). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 8.4% growth forecast for the Semiconductor industry in Germany. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has fallen by 11% per year, which means it is performing significantly worse than earnings. Valuation Update With 7 Day Price Move • Apr 19
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to €1.91, the stock trades at a forward P/E ratio of 34x. Average forward P/E is 13x in the Semiconductor industry in Germany. Total loss to shareholders of 28% over the past three years. Announcement • Mar 30
Semiconductor Manufacturing International Corporation to Report Q1, 2024 Results on May 10, 2024 Semiconductor Manufacturing International Corporation announced that they will report Q1, 2024 results on May 10, 2024 New Risk • Mar 29
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 114% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (9.3% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (14% net profit margin). Announcement • Mar 29
Semiconductor Manufacturing International Corporation, Annual General Meeting, Jun 28, 2024 Semiconductor Manufacturing International Corporation, Annual General Meeting, Jun 28, 2024. Reported Earnings • Mar 29
Full year 2023 earnings released: EPS: US$0.11 (vs US$0.23 in FY 2022) Full year 2023 results: EPS: US$0.11 (down from US$0.23 in FY 2022). Revenue: US$6.32b (down 13% from FY 2022). Net income: US$902.5m (down 50% from FY 2022). Profit margin: 14% (down from 25% in FY 2022). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 8.4% growth forecast for the Semiconductor industry in Germany. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to €2.08, the stock trades at a forward P/E ratio of 32x. Average forward P/E is 19x in the Semiconductor industry in Germany. Total loss to shareholders of 23% over the past three years. New Risk • Feb 08
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 1.9% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 1.9% per year for the foreseeable future. High level of non-cash earnings (22% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (8.9% average weekly change). Profit margins are more than 30% lower than last year (18% net profit margin). Announcement • Feb 07
Semiconductor Manufacturing International Corporation Provides Earnings Guidance for First Quarter and Full Year of 2024 Semiconductor Manufacturing International Corporation provided earnings guidance for first quarter and full year of 2024. For the first quarter, the company expects revenue to be flat to up 2% QoQ.For the year, the revenue growth is expected to be not less than industry average in the same markets and around mid-single-digit percentage year-over-year. Announcement • Jan 06
Semiconductor Manufacturing International Corporation to Report Fiscal Year 2023 Results on Feb 06, 2024 Semiconductor Manufacturing International Corporation announced that they will report fiscal year 2023 results on Feb 06, 2024 Buying Opportunity • Nov 16
Now 20% undervalued Over the last 90 days, the stock is up 30%. The fair value is estimated to be €3.14, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 21% over the last 3 years. Earnings per share has grown by 16%. For the next 3 years, revenue is forecast to grow by 15% per annum. Earnings is also forecast to grow by 5.7% per annum over the same time period. Reported Earnings • Nov 11
Third quarter 2023 earnings released: EPS: US$0.012 (vs US$0.06 in 3Q 2022) Third quarter 2023 results: EPS: US$0.012 (down from US$0.06 in 3Q 2022). Revenue: US$1.62b (down 15% from 3Q 2022). Net income: US$94.0m (down 80% from 3Q 2022). Profit margin: 5.8% (down from 25% in 3Q 2022). Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 7.8% growth forecast for the Semiconductor industry in Germany. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Announcement • Nov 10
Semiconductor Manufacturing International Corporation Provides Revenue Guidance for the Fourth Quarter of 2023 Semiconductor Manufacturing International Corporation provided revenue guidance for the fourth quarter of 2023. For the period, the company expected revenue to increase by 1% to 3% quarter on quarter. New Risk • Oct 31
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 8.5% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (8.5% average weekly change). Earnings are forecast to decline by an average of 5.1% per year for the foreseeable future. High level of non-cash earnings (24% accrual ratio). Valuation Update With 7 Day Price Move • Oct 30
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to €3.00, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 14x in the Semiconductor industry in Germany. Total returns to shareholders of 15% over the past three years. New Risk • Aug 11
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 24% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 14% per year for the foreseeable future. High level of non-cash earnings (24% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (6.7% average weekly change). Reported Earnings • Aug 11
Second quarter 2023 earnings released: EPS: US$0.051 (vs US$0.065 in 2Q 2022) Second quarter 2023 results: EPS: US$0.051 (down from US$0.065 in 2Q 2022). Revenue: US$1.56b (down 18% from 2Q 2022). Net income: US$402.8m (down 22% from 2Q 2022). Profit margin: 26% (down from 27% in 2Q 2022). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 8.0% growth forecast for the Semiconductor industry in Germany. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Announcement • Jul 18
Semiconductor Manufacturing International Corporation Announces Executive Changes The board of directors of Semiconductor Manufacturing International Corporation announces that: Dr. Gao Yonggang ("Dr. Gao"), has resigned as the chairman of the Board, executive director of the Company and chairman of the nomination committee of the Board with effect from 17 July 2023 due to job adjustment. Dr. Liu Xunfeng ("Dr. Liu"), the vice chairman of the Board, executive director of the Company and member of nomination committee of the Board, has been appointed by the Board as the chairman of the Board, executive director of the Company and the chairman of the nomination committee of the Board with effect from 17 July 2023. Dr. Liu Xunfeng, aged 58, is the chairman of the Board, executive director and chairman of Board nomination committee of the Company. Dr. Liu concurrently serves as vice chairman of Shanghai Chemical Industry Park Development Co. Ltd.(SCIP), also serves as member of the 14th National Committee of the Chinese People's Political Consultative Conference, vice president of China Petroleum and Chemical Industry Federation, president of Shanghai Society for Advanced Materials. Dr. Liu has long tenured in large industrial group and has more than 30 years of experience in corporate management. He had successively served as the deputy chief engineer of the ethylene plant, deputy director of the investment engineering department, assistant to thegeneral manager, and deputy general manager of SINOPEC Shanghai Petrochemical Co. Ltd., vice general manager of Shanghai Secco Petrochemical Company Limited, deputy general manager of Shanghai Chemical Industry Park Development Co. Ltd.(SCIP), deputy secretary of the Party Committee, president, secretary of the Party Committee and chairman of Shanghai Huayi (Group) Co. Ltd., secretary of the Party Committee and chairman of Shanghai Huayi Group Co. Ltd., chairman of Shanghai Huayi Holding Group Co., Ltd, vice chairman, executive director and member of the Board nomination committee of Semiconductor Manufacturing International Corporation. He has successively won the titles of Shanghai Industrial and Commercial Leader and Shanghai Outstanding Entrepreneur, etc. Dr. Liu holds a Ph. D. in management science and engineering from Xi'an Jiaotong University, a Master's degree in business administration from China Europe International Business School, a Master's degree in chemical engineering from the Chemical Engineering Department of East China Institute of Chemical Technology (now known as East China University of Science and Technology), and a professorate senior engineer. Following Dr. Gao's resignation, he ceased to act as one of the authorised representatives of the Company under Rule 3.05 of the Rules Governing the Listing of Securities on The StockExchange of Hong Kong Limited (the "Hong Kong Listing Rules"). The Board announces that Dr. Liu has been appointed as one of the authorised representatives of the Company under Rule 3.05 of the Hong Kong Listing Rules with effect from 17 July 2023. Announcement • Jul 12
Semiconductor Manufacturing International Corporation to Report Q2, 2023 Results on Aug 10, 2023 Semiconductor Manufacturing International Corporation announced that they will report Q2, 2023 results at 4:00 PM, China Standard Time on Aug 10, 2023 Announcement • Jun 27
Semiconductor Manufacturing International Corporation to Report First Half, 2023 Results on Aug 26, 2023 Semiconductor Manufacturing International Corporation announced that they will report first half, 2023 results on Aug 26, 2023 Reported Earnings • May 12
First quarter 2023 earnings released: EPS: CN¥0.20 (vs CN¥0.36 in 1Q 2022) First quarter 2023 results: EPS: CN¥0.20 (down from CN¥0.36 in 1Q 2022). Revenue: CN¥10.2b (down 13% from 1Q 2022). Net income: CN¥1.59b (down 44% from 1Q 2022). Profit margin: 16% (down from 24% in 1Q 2022). Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 8.9% growth forecast for the Semiconductor industry in Germany. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Apr 20
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to €2.92, the stock trades at a forward P/E ratio of 39x. Average forward P/E is 18x in the Semiconductor industry in Germany. Total returns to shareholders of 72% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €1.34 per share. Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to €2.40, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 18x in the Semiconductor industry in Germany. Total returns to shareholders of 51% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €1.31 per share. Reported Earnings • Mar 29
Full year 2022 earnings released: EPS: US$1.53 (vs US$0.21 in FY 2021) Full year 2022 results: EPS: US$1.53 (up from US$0.21 in FY 2021). Revenue: US$49.5b (up US$44.1b from FY 2021). Net income: US$12.1b (up US$10.4b from FY 2021). Profit margin: 25% (down from 31% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 66% p.a. on average during the next 3 years, while revenues in the Semiconductor industry in Germany are expected to grow by 8.9%. Over the last 3 years on average, earnings per share has increased by 97% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Mar 17
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to €2.16, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 16x in the Semiconductor industry in Germany. Total returns to shareholders of 51% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €1.31 per share. Announcement • Jan 11
Semiconductor Manufacturing International Corporation to Report Q4, 2022 Results on Feb 09, 2023 Semiconductor Manufacturing International Corporation announced that they will report Q4, 2022 results at 4:00 PM, China Standard Time on Feb 09, 2023 Reported Earnings • Nov 16
Third quarter 2022 earnings released: EPS: US$0.06 (vs US$0.041 in 3Q 2021) Third quarter 2022 results: EPS: US$0.06 (up from US$0.041 in 3Q 2021). Revenue: US$1.91b (up 35% from 3Q 2021). Net income: US$470.8m (up 47% from 3Q 2021). Profit margin: 25% (up from 23% in 3Q 2021). Revenue is forecast to grow 7.8% p.a. on average during the next 3 years, compared to a 8.5% growth forecast for the Semiconductor industry in Germany. Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Director Hanming Wu was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Board Change • Nov 12
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Director Hanming Wu was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Reported Earnings • Nov 11
Third quarter 2022 earnings released: EPS: CN¥0.32 (vs CN¥0.26 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.32 (up from CN¥0.26 in 3Q 2021). Revenue: CN¥11.1b (up 22% from 3Q 2021). Net income: CN¥2.55b (up 23% from 3Q 2021). Profit margin: 23% (in line with 3Q 2021). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 8.7% growth forecast for the Semiconductor industry in Germany. Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 12
Second quarter 2022 earnings released: EPS: US$0.065 (vs US$0.087 in 2Q 2021) Second quarter 2022 results: EPS: US$0.065 (down from US$0.087 in 2Q 2021). Revenue: US$1.90b (up 42% from 2Q 2021). Net income: US$514.3m (down 25% from 2Q 2021). Profit margin: 27% (down from 51% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 16%, compared to a 12% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 66% per year but the company’s share price has only increased by 32% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 13
First quarter 2022 earnings released: EPS: CN¥0.36 (vs CN¥0.13 in 1Q 2021) First quarter 2022 results: EPS: CN¥0.36 (up from CN¥0.13 in 1Q 2021). Revenue: CN¥11.9b (up 64% from 1Q 2021). Net income: CN¥2.84b (up 173% from 1Q 2021). Profit margin: 24% (up from 14% in 1Q 2021). Over the next year, revenue is forecast to grow 30%, compared to a 14% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 70% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 6 non-independent directors. Independent Non-Executive Director Ming Liu was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Apr 02
Full year 2021 earnings released: EPS: CN¥1.36 (vs CN¥0.73 in FY 2020) Full year 2021 results: EPS: CN¥1.36 (up from CN¥0.73 in FY 2020). Revenue: CN¥35.6b (up 40% from FY 2020). Net income: CN¥10.7b (up 132% from FY 2020). Profit margin: 30% (up from 18% in FY 2020). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 31%, compared to a 16% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 71% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 12
Third quarter 2021 earnings released: EPS US$0.041 (vs US$0.035 in 3Q 2020) The company reported a solid third quarter result with improved earnings and revenues, although profit margins were flat. Third quarter 2021 results: Revenue: US$1.42b (up 31% from 3Q 2020). Net income: US$321.4m (up 25% from 3Q 2020). Profit margin: 23% (in line with 3Q 2020). Over the last 3 years on average, earnings per share has increased by 72% per year but the company’s share price has only increased by 52% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions • Oct 01
Independent Non-Executive Director recently sold €456k worth of stock On the 29th of September, Juen-Yee Lau sold around 188k shares on-market at roughly €2.43 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €629k more than they bought in the last 12 months. Reported Earnings • Aug 06
Second quarter 2021 earnings released The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: US$1.34b (up 43% from 2Q 2020). Net income: US$687.8m (up 417% from 2Q 2020). Profit margin: 51% (up from 14% in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 64% per year but the company’s share price has only increased by 40% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 28
Investor sentiment improved over the past week After last week's 18% share price gain to US$2.72, the stock trades at a forward P/E ratio of 36x. Average forward P/E is 32x in the Semiconductor industry in Germany. Total returns to shareholders of 172% over the past three years.