The market share with the second place has shrunk further.
China's foundry leader SMIC released its 2024 annual report on Tuesday. Data show that SMIC annual sales revenue of 8.03 billion US dollars, an increase of 27%, a record high; Gross profit margin 18%, capacity utilization rate 85.6%. By the end of 2024, the company's total assets were about $49.2 billion, equivalent to 948,000 8-inch standard logic monthly production capacity.
In his Letter to Shareholders, Liu Xunfeng, chairman of SMIC, said that 2024 is a crucial year for SMIC to make new breakthroughs in promoting high-quality development. Faced with the severe and complex international geopolitical environment, macroeconomic situation and profound changes in the industry development pattern, the company actively implements the original mission of "strengthening, improving and expanding SMIC, and participating in international competition on behalf of the industry". Guided by the development blueprint of "One SMIC, global operation", the company scientifically plans its development strategy, deeply promotes reform and innovation, and all work is "stable" and improving. "In" to improve quality.
He interpreted the results of the company's work in 2024 from the three levels of innovative technology, ecological cooperation and green development.
1. Adhere to innovation-driven, and constantly improve the core competitiveness. Smic has always been benchmarking world-class enterprises to improve its core competitiveness, a number of business indicators have reached a record high, capacity utilization has reached the industry-leading level, process research and development and platform construction has been steadily expanded, technology iterations and product upgrades have been steadily advanced, the ability to quickly introduce various terminal applications has been significantly enhanced, and customer satisfaction and market influence have been continuously improved.
2. Adhere to open cooperation and continue to expand the industrial chain ecosystem. Take "customer-centric, creating value for customers" as the starting point and goal of all work, deepen strategic cooperation with leading enterprises in consumer electronics, automotive, Internet of Things, industrial control, artificial intelligence and other industries, strengthen industry-university-research collaboration with top universities and research institutes at home and abroad, carry out more forward-looking project research, and make significant progress in process research and development and platform construction. We will accelerate the construction of industrial, ecological and innovation chains with SMIC characteristics.
3. Put people first and promote green and sustainable development in an all-round way. Follow the behavior pursuit of "creating value for customers, bringing returns to shareholders, providing a stage for employees, and contributing to society", and build a community of interests, cause and destiny between the company, employees and society. Actively fulfill the responsibility of emission reduction and carbon reduction, and build green factories. Continue to carry out charitable projects such as "Core Liver Baby Program" to create a more warm corporate culture.
"The year 2025 is a breakthrough year for SMIC to comprehensively deepen reform and promote high-quality development. In the face of challenges and opportunities, SMIC will continue to adhere to the general tone of seeking progress while maintaining stability, based on the new development stage, implementing the new development concept, integrating into the new development pattern, better coordinating development and security, scientifically planning development strategies, fostering and developing new quality productivity, and working with customers and partners to contribute to the innovation and development of the global IC industry!" Liu Xunfeng said.
It is worth mentioning that, driven by downstream demand, SMIC's operating income in the first quarter of 2024 was 1.75 billion US dollars, an increase of 19.7%, surpassing the two international factories of UMC and GF for the first time, and becoming the world's second largest pure wafer foundry after TSMC.
In the fourth quarter of 2024, SMIC's wafer shipments decreased quarter-on-quarter due to customer inventory adjustments, but benefited from the opening of new 12-inch capacity and the quarterly growth of Blended ASP driven by the optimized product mix, which offset the two, revenue increased 1.7% quarter-on-quarter to $2.2 billion, with a 5.5% market share. In third place. And with the second place Samsung market share further reduced.
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