Gross profit was $316.5 million, compared to $304.7 million in 1Q23, and $750.5 million in 2Q22.

Gross margin was 20.3%, compared to 20.8% in 1Q23 and 39.4% in 2Q22.

In Q3 the company expects revenue to increase by 3% to 5% QoQ and gross  margin to range from 18% to 20%.

‘In the second quarter of 2023, the Company’s revenue increased by 6.7% sequentially to $1.56 billion, and gross margin declined 0.5 percentage points to 20.3%,’ says SMIC, ‘the capacity demand of 12-inch were relatively full, while the customer demand of 8-inch were weak. The utilization rate for 8-inch was lower than 12-inch, but still better than the industry average.’

Third quarter’s revenue is expected to grow by 3%-5% sequentially, and gross margin is expected to be in the range of 18%-20%. Shipments are expected to continue to increase in the third quarter, meanwhile, the depreciation will also continue to increase. The Company’s revenue in the second half of the year is expected to be better than that in the first half.

Full results at: https://www.smics.com/uploads/64d4aaba/ER_EN.pdf