Leading Chinese microchip maker SMIC (0981.HK; 688981.SH) said its revenue rose to $1.9 billion in the second quarter from $1.56 billion yuan a year earlier, while its gross profit dropped to $265 million from $317 million over that time. Its gross margin fell to 13.9% in the second quarter from 20.3% in the second quarter of 2023.
Recent Articles
Daqo goes ‘back to the future’ with AI power equipment gamble
The polysilicon maker will partner with the Kunshan government to build a 6 billion yuan base producing electrical equipment to power AI data centers Key Takeaways: Daqo and the Kunshan…
Tiny income, big dreams: can True Health become the next robotics champion?
The developer of medical devices is aiming to open up a commanding lead in the niche market for puncture and ablation robots, with the help of IPO proceeds Key Takeaways:…
Fairland’s ‘smart pools’ swim closer to IPO with CSRC application
The smart garden ecosystem maker boasts strong double-digit revenue growth Key Takeaways: Fairland Corp. has submitted its IPO application to China’s securities regulator, bringing it closer to a Hong Kong…
Chery tiptoes into Japan with EV ‘kei’ microcar joint venture
China’s leading car exporter is targeting the insular Japanese market through a Singaporean joint venture, as the domestic car market struggles Key Takeaways: Chery’s 27% stake in a Singaporean joint…