SMIC Co-CEO Zhao Haijun: Q4 Not a Typical Slow Season, Shipments Seen Steady

Cointime update: Semiconductor Manufacturing International Corp (SMIC) co-CEO Zhao Haijun said at the company’s third-quarter earnings call that the fourth quarter is traditionally a slow season but the company’s performance will not be weak. While smartphone and some consumer orders have softened, SMIC is shifting released capacity toward high-demand, high-value products such as specialty memory and BCD. SMIC expects Q4 shipments to remain steady and revenue to rise 4% to 6% quarter on quarter, with gross margin guidance unchanged at 26% to 28%.