Semiconductor Manufacturing International Corporation (SMIC), China's leading integrated circuit foundry company listed in Hong Kong, on April 7 issued an announcement to raise its revenue and gross profit margin guidance for the first quarter of 2020.
The company said that the revenue growth guidance for the first quarter of this year was raised from 0% to 2% to 6% to 8%; the gross profit margin guidance was raised from 21% to 23% to 25% to 27%.
Regarding the increase in the first-quarter revenue and gross profit margin guidance, SMIC Chief Financial Officer Gao Yonggang said in the announcement: "Since the company initially announced the first-quarter revenue and gross margin guidance, we have seen an increase in product demand and product portfolio. Optimization, these have exceeded our earlier expectations. "
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