SHANGHAI, Oct. 13, 2016 /PRNewswire/ -- Semiconductor Manufacturing International Corporation ("SMIC"; NYSE: SMI; SEHK: 981), one of the leading semiconductor foundries in the world and the largest and most advanced foundry in Mainland China, today held the groundbreaking ceremony of a new 12-inch wafer fab in Shanghai to meet SMIC Shanghai's increasing production and development needs.
China's Ministry of Industry and Information Technology (MIIT) and the Shanghai Government have placed a high value on and provided strong support for the new project. Guests and leaders from the IC industry and investment funds attended the ceremony. The Chairman of SMIC, Dr. Zixue Zhou, and the CEO and Executive Director of SMIC, Dr. Tzu-Yin Chiu, together laid the foundation stone for the new project.
SMIC has 8-inch and 12-inch wafer fabs in Beijing, Shanghai, Shenzhen, Tianjin and Italy, and the company's revenue has continued to hit record highs recently. SMIC booked record revenue of US $1.3245 billion in the first half of 2016 (a year-on-year increase of 25.4%). SMIC has achieved 17 consecutive quarters of profit and is close to full production capacity. Revenue is expected to maintain rapid growth of 20% annually over the next three to four years. SMIC will manage production capacity and arrange facility expansions based on customer and market demand.
The Chairman of SMIC, Dr. Zixue Zhou, said: "The start of our new 12-inch wafer fab in SMIC Shanghai will not only help to meet our growing customer demand for advanced production, but also further strengthen and expand SMIC itself."
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 mega-fab in Shanghai; a 300mm mega-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 press release 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, including statements under "Third Quarter 2016 Guidance", "CapEx Summary" and the statements contained in the quotes of our CEO are based on SMIC's current assumptions, expectations and projections about future events. SMIC uses words like "believe," "anticipate," "intend," "estimate," "expect," "project," "target" and similar expressions to identify forward-looking statements, although not all forward-looking statements contain these words. These forward-looking statements 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 the cyclical nature of the semiconductor industry, changes in demand for our products, competition in our markets, our reliance on a small number of customers, orders or judgments from pending litigation, intensive intellectual property lawsuits in semiconductor industry and financial stability in end markets, general economic conditions and fluctuations in currency exchange rates.
Investors should consider the information contained in SMIC's filings with the U.S. Securities and Exchange Commission ("SEC"), including its annual report on 20-F filed with the SEC on April 25, 2016, especially the consolidated financial statements, and such other documents that SMIC may file with the SEC or The Hong Kong Stock Exchange Limited ("SEHK") from time to time, including current reports on Form 6-K. Other unknown or unpredictable factors also could have material adverse effects on SMIC's future results, performance or achievements. In light of these risks, uncertainties, assumptions and factors, the forward-looking events discussed in this press release 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 press release. Except as may be required by law, SMIC undertakes no obligation and does not intend to update any forward-looking statement, whether as a result of new information, future events or otherwise.
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SOURCE Semiconductor Manufacturing International Corporation