SHANGHAI, March 27, 2017 /PRNewswire/ -- Semiconductor Manufacturing International Corporation (NYSE: SMI; SEHK: 981) ("SMIC" or the "Company"), one of the leading semiconductor foundries in the world, today announces the audited consolidated results of the Company for the year ended December 31, 2016.
- Revenue was a record high of US$2,914.2 million in 2016, compared to US$2,236.4 million in 2015, representing an increase of 30.3%.
- Gross profit was a record high of US$849.7 million in 2016, compared to US$682.6 million in 2015, representing an increase of 24.5%.
- Profit for the period attributable to owners of the Company was also a record high of US$376.6 million in 2016, compared to US$253.4 million in 2015, representing an increase of 48.6%.
- Revenue from China-region customers grew to an all-time high of 49.7% of total revenue in 2016, compared to 47.7% in 2015, representing a revenue increase of 35.7%.
- Net cash generated from operating activities was a record high of US$977.2 million in 2016, compared to US$669.2 million in 2015, representing an increase of 46.0%.
- Cash and cash equivalents and other financial assets totaled US$2,157.6 million as of December 31, 2016, compared to US$1,288.1 million as of December 31, 2015, representing an increase of 67.5%.
- The net debt to equity ratio remained low at 16.1% as of December 31, 2016.
To see the complete results including financial tables, please click here: http://www.smics.com/eng/investors/ir_filings.php?year=2017
Semiconductor Manufacturing International Corporation ("SMIC"; NYSE: SMI; SEHK: 981) is one of the leading semiconductor foundries in the world and the largest and most advanced foundry in mainland China. SMIC provides integrated circuit (IC) foundry and technology services on process nodes from 0.35 micron to 28 nanometer. Headquartered in Shanghai, China, SMIC has an international manufacturing and service base. In China, SMIC has a 300mm wafer fabrication facility (fab) and a 200mm fab in Shanghai; a 300mm fab and a majority-owned 300mm fab for advanced nodes in Beijing; 200mm fabs in Tianjin and Shenzhen; and a majority-owned joint-venture 300mm bumping facility in Jiangyin; additionally, in Italy SMIC has a majority-owned 200mm fab. SMIC also has marketing and customer service offices in the U.S., Europe, Japan, and Taiwan, and a representative office in Hong Kong.
For more information, please visit www.smics.com.
Safe Harbor Statements
(Under the Private Securities Litigation Reform Act of 1995)
This document contains, in addition to historical information, "forward-looking statements" within the meaning of the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on SMIC's current assumptions, expectations and projections about future events. SMIC uses words like "believe," "anticipate," "intend," "estimate," "expect," "project" and similar expressions to identify forward looking statements, although not all forward-looking statements contain these words. These forward-looking statements are necessarily estimates reflecting the best judgment of SMIC's senior management and involve significant risks, both known and unknown, uncertainties and other factors that may cause SMIC's actual performance, financial condition or results of operations to be materially different from those suggested by the forward-looking statements including, among others, risks associated with cyclicality and market conditions in the semiconductor industry, intense competition, timely wafer acceptance by SMIC's customers, timely introduction of new technologies, SMIC's ability to ramp new products into volume, supply and demand for semiconductor foundry services, industry overcapacity, shortages in equipment, components and raw materials, availability of manufacturing capacity, financial stability in end markets and intensive intellectual property litigation in high tech industry.
In addition to the information contained in this document, you should also consider the information contained in our other filings with the SEC, including our annual report on Form 20-F filed with the SEC on April 25, 2016, especially in the "Risk Factors" section and such other documents that we may file with the SEC or SEHK from time to time, including on Form 6-K. Other unknown or unpredictable factors also could have material adverse effects on our future results, performance or achievements. In light of these risks, uncertainties, assumptions and factors, the forward-looking events discussed in this document may not occur. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date stated or, if no date is stated, as of the date of this document.
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SOURCE Semiconductor Manufacturing International Corporation