MoA - The MoA Week In Review - OT 2021-011 moonofalabama.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from moonofalabama.org Daily Mail and Mail on Sunday newspapers.
SMIC Q4 Profit Rises
BEIJING (dpa-AFX) - Semiconductor Manufacturing International Corp. reported fourth quarter profit to owners of the company of $257.04 million, an increase of 189.7% from previous year. Earnings per ADS was $0.15 compared to $0.08. Fourth quarter revenue was $981.09 million, an increase of 16.9 percent from last year.
For the first quarter, the company projects: revenue to increase by 7% to 9% quarter-on-quarter; and gross margin to range from 17% to 19%.
Gao Yonggang, CFO of SMIC, said: For 2021, our annual revenue target is mid-to-high single digit percentage growth; revenue target for first half is around $2.1 billion; and annual gross margin target is in the mid-teens range.
China s SMIC Earns Top Revenues in 2020 Despite COVID-19, Sees No Exodus of Clients Amid Trade War
Subscribe
Sputnik International
https://sputniknews.com/business/202102051081988602-chinas-smic-earns-record-revenues-in-2020-amid-covid-19-sees-no-exodus-of-clients-amid-trade-war/
The Shanghai-based semiconductor firm continued to boost profits with clients because of rising demand for electronic devices amid the ongoing COVID-19 pandemic, but was working hard with US suppliers to reduce supply chain disruptions, it said as quoted by the South China Morning Post on late Thursday.
There has been no exodus of clients because of the US trade war on China launched by the former Trump administration, Semiconductor Manufacturing International Corp (SMIC) said in its 2020 fourth-quarter earnings call on Friday. The Shanghai-based semiconductor firm was working hard with US suppliers to reduce supply chain disruptions, it said as quoted by the South China Morning Post (SCMP).
Biden commerce pick sees no reason to pull Huawei from blacklist
US President Joe Biden’s nominee for commerce secretary, Gina Raimondo, said she knows of “no reason” why Huawei Technologies, ZTE and other Chinese companies shouldn’t remain on a restricted trade list.
Raimondo, in written questions from senate Republicans, was asked about the two companies, as well as Semiconductor Manufacturing International Corp and Hikvision and others. They are on a list that requires US firms to obtain government licences if they want to sell American technology and intellectual property to the Chinese companies.
“I understand that parties are placed on the Entity List and the Military End User List generally because they pose a risk to US national security or foreign policy interests,” said Raimondo, the governor of Rhode Island. “I currently have no reason to believe that entities on those lists should not be there. If confirmed, I look forward to a briefing on these ent