Semiconductor Manufacturing International (DE:MKN2) has released an update.
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Semiconductor Manufacturing International Corporation (SMIC) posted a revenue increase to $1.9 billion in Q2 2024, up from the previous quarter and year-over-year, although gross margin declined to 13.9%. Looking ahead, SMIC anticipates a revenue increase of 13-15% and an improved gross margin between 18-20% for Q3 2024. The company aims to persevere in advancing wafer manufacturing and strategic planning amidst varying market conditions.
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