SMIC released its 2022Q4 unaudited financial results last week, with annual revenue topping $7.2 billion.
The company achieved sales revenue of $7.273 billion in FY2022, up 33.6% year-over-year; attributable profit attributable to the Company was $1.818 billion, up 6.8% year-over-year; and gross margin was 38.0%, up 7.2% year-over-year.
In 2022, cell phones will account for 27% of the company’s total wafer revenue, while consumption will account for 23% of total wafer revenue, adding up to half of the total wafer revenue.
But in reality, SMIC’s previous cell phone chip revenue was about 35% to 45% of wafer revenue, which means that the cell phone industry has declined very severely, and consumption has also declined a lot. A very large portion of the foundry business comes from cell phones and consumption. SMIC revealed that the mobile phone industry now has a relatively high inventory, and the consumer industry’s inventory may be digested within six months.
Compared with the coldness of the cell phone industry, the industrial sector has little inventory, and the automotive industry, especially new energy vehicles, is in short supply. In the cell phone and consumer industries, the highest inventory is related to display driver circuits, large-screen TVs, medium-screen monitors, small-screen cell phones, and panel-type driver chip inventory is estimated to be more than 3 quarters, individual inventory may be the whole year.
According to the regional view of SMIC’s annual revenue, China, the U.S. and Eurasia accounted for 74%, 21% and 5% respectively, and the amount of revenue from China and the U.S. increased by 42% and 24% year-over-year.
By size, eight-inch and 12-inch wafer revenue accounted for 33% and 67% of revenue, respectively, with year-over-year revenue growth of 24% and 42%.
By application, SMIC’s revenue from smartphones, consumer electronics, smart homes and other applications accounted for 27%, 23%, 14% and 36%, respectively, with year-over-year revenue growth of 14%, 32%, 48% and 54%.
