Chinese chipmaker sees record sales revenue in Q2

SHANGHAI -- China's top home-grown chipmaker, Semiconductor Manufacturing International Corporation (SMIC), said on Thursday that its sales revenue in the second quarter reached a record high of $938.5 million.

The revenue was up by 3.7 percent quarter-on-quarter and up by 18.7 percent year-on-year, according to the company's fiscal report.

The gross profit from April to June skyrocketed by 64.5 percent year-on-year to $248.6 million, a quarter-on-quarter growth of 6.4 percent.

The company expected a further sales revenue increase in the third quarter (Q3), with the quarter-on-quarter growth rate expected at 1 to 3 percent. The gross margin in Q3 is expected to range from 19 to 21 percent quarter-on-quarter.

SMIC, China's leading semiconductor manufacturer, was listed on the country's Nasdaq-style sci-tech innovation board, known as the STAR Market, on July 16. It obtained approval for its IPO from Chinese regulators in 19 days and entered the board in just 46 days, reflecting the fast-track approach and constant innovations of the board's listing system.