Tech war: China’s SMIC reports strong revenue growth as geopolitical tensions spur local demand

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Tech war: China’s SMIC reports strong revenue growth as geopolitical tensions spur local demand - SCMP

Quick Summary:

China’ top chip maker Semiconductor Manufacturing International Corp said its revenue grew 22 per cent year on year in the second quarter as customers rushed to place orders amid rising geopolitical tensions.

In the first half, SMIC’s capital expenditure and fab construction costs totalled US$4.5 billion, compared with US$3.8 billion in the same period a year earlier.

A Kirin 9000s chip fabricated in China by SMIC, taken from a Huawei Mate 60 Pro smartphone, arranged in Ottawa, Ontario, Canada, on Sept.3, 2023.