Chipmaker SMIC Reports High Profit Amid Global Shortage

Semiconductor Manufacturing International Corp. (SMIC), the largest contract chip manufacturer on the Chinese mainland, saw its shares rise on Friday after reporting record high quarterly revenue and substantial profit growth amid a global semiconductor shortage.

The unaudited revenue of SMIC (688981.SH) reached $1.58 billion in the fourth quarter of 2021, up 61.1% from the same period in the previous year, according to a Thursday company filing. Its quarterly net profit attributable to shareholders jumped 107.7% year-on-year to $533.8 million.