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SMIC’s revenue topped $8 billion in 2024, up 27% y-o-y
SMIC reported a revenue of $8.03 billion for 2024, marking a 27% year-on-year increase. The company's gross margin was 18%, and its monthly production capacity of 8-inch wafers reached 948,000 by year-end. SMIC shipped over eight million wafers in 2024, with an average capacity utilization rate of 85.6%.
Key points
- SMIC's revenue for 2024 was $8.03 billion, representing a 27% increase from the previous year.
- The gross margin for the company stood at 18%.
- Monthly production capacity of 8-inch wafers was 948,000 at the end of 2024.
- SMIC shipped over eight million wafers for the year.
- The annual average capacity utilization rate was 85.6%.
Why it matters
- SMIC's growth reflects the global semiconductor market's continued recovery amid supply chain disruptions.
- With increasing demand for semiconductors, SMIC's capacity and utilization rates highlight the industry's trend towards higher production efficiency as seen in 2025 IT trends.
- This growth positions SMIC favorably in relation to competitors and emphasizes China's strategic investments in semiconductor technology.
SMIC's significant revenue growth in 2024 underscores its successful operations amidst a recovering semiconductor market, reflecting broader industry trends and China's focus on self-sufficiency in technology.