|
Cash Flow | ||
|
| ||
|
Amounts in US$ thousands |
3Q13 |
2Q13 |
|
Net cash from operating activities |
269,581 |
108,360 |
|
Net cash used in investing activities |
(213,133) |
(242,559) |
|
Net cash from financing activities |
154,045 |
104,167 |
|
Effect of exchange rate changes |
59 |
55 |
|
Net change in cash |
210,552 |
(29,977) |
Capex Summary
- Capital expenditures for 3Q13 were $169.3 million.
- The planned 2013 capital expenditure for our foundry operation is $675 million.
- The 2013 planned capital expenditure does not account for additional expenditures for the joint venture company in Beijing, which was established in July 2013. The joint venture company will principally engage in, among other things, the testing, development, design, manufacturing, packaging and sale of integrated circuits.
- In addition, we have budgeted capital expenditures of another $130 million in 2013 for the construction of living quarters for employees as part of the Company's employee retention program. We plan to either rent out or sell these living quarter units to employees in the future.
Recent Highlights and Announcements
-
SMIC IP R&D Center Applies EDA Solution of Beijing Empyrean (2013-10-04)
-
SMIC Introduces Its Diversifying Embedded Non-Volatile Memory Platform (2013-09-23)
-
SMIC Selected as Constituent of Hang Seng Corporate Sustainability Index Series for Third Consecutive Year (2013-09-11)
-
Grant of Options (2013-09-09)
-
SMIC Adopts Cadence Digital Flow with Advanced Features for Improving Area, Power and Performance (2013-09-04)
-
SMIC's 2013 Technology Symposiums Kicks Off in Shanghai (2013-09-04)
-
Circulars - Notification Letter and Request Form to Non-registered Holders (2013-09-03)
-
Circulars - Notification Letter and Change Request Form to Registered Holders (2013-09-03)
-
Announcement of Unaudited Interim Results for the Six Months Ended June 30, 2013 (2013-08-26)
-
Notification of Board Meeting (2013-08-14)
-
List of Directors and Their Roles and Functions (2013-08-08)
-
Appointment of Independent Non-executive Director (2013-08-08)
-
SMIC Reports Unaudited Results for the Three Months Ended June 30, 2013 (2013-08-08)
-
Notification of Board Meeting (2013-07-19)
Please visit SMIC's website at http://www.smics.com/eng/press/press_releases.php and http://www.smics.com/eng/investors/ir_filings.php for further details regarding the recent announcements.
|
Semiconductor Manufacturing International Corporation | ||||
|
CONDENSED CONSOLIDATED STATEMENTS OF PROFIT OR LOSS AND COMPREHENSIVE INCOME | ||||
|
(In US$ thousands except share data) | ||||
|
| ||||
|
|
|
For the three months ended | ||
|
|
|
September 30, 2013 |
|
June 30, 2013 |
|
|
|
(Unaudited) |
|
(Unaudited) |
|
|
|
|
|
|
|
Revenue |
|
534,256 |
|
541,302 |
|
Cost of sales |
|
(422,274) |
|
(406,075) |
|
Gross profit |
|
111,982 |
|
135,227 |
|
Research and development |
|
(37,564) |
|
(36,736) |
|
General and administration expenses |
|
(24,718) |
|
(42,636) |
|
Sales and marketing expenses |
|
(9,324) |
|
(9,775) |
|
Other operating income |
|
8,159 |
|
33,052 |
|
Profit from operation |
|
48,535 |
|
79,132 |
|
Other expense, net |
|
(4,681) |
|
(3,292) |
|
Profit before tax |
|
43,854 |
|
75,840 |
|
Income tax expense |
|
(914) |
|
(510) |
|
Profit for the period |
|
42,940 |
|
75,330 |
|
Other comprehensive income |
|
|
|
|
|
Item that may be reclassified subsequently to profit or loss |
|
|
|
|
|
Exchange differences on translating foreign operations |
|
77 |
|
278 |
|
Total comprehensive income for the period |
|
43,017 |
|
75,608 |
|
Profit for the period attributable to: |
|
|
|
|
|
Owners of the Company |
|
42,491 |
|
75,401 |
|
Non-controlling interests |
|
449 |
|
(71) |
|
|
|
42,940 |
|
75,330 |
|
Total comprehensive income for the period attributable to: |
|
|
|
|
|
Owners of the Company |
|
42,568 |
|
75,679 |
|
Non-controlling interests |
|
449 |
|
(71) |
|
|
|
43,017 |
|
75,608 |
|
|
|
|
|
|
|
Earnings per share attributable to Semiconductor Manufacturing
|
|
0.00 |
|
0.00 |
|
Earnings per ADS attributable to Semiconductor Manufacturing
|
|
0.07 |
|
0.12 |
|
|
|
|
|
|
|
Shares used in calculating basic earnings per share |
|
32,083,651,959 |
|
32,051,257,487 |
|
Shares used in calculating diluted earnings per share |
|
32,354,552,218 |
|
32,311,620,628 |
|
|
|
|
|
|
|
Reconciliations of Non- GAAP Financial Measures to Comparable GAAP Measures ( 1 ) |
|
|
|
|
|
Non-GAAP revenue |
|
503,669 |
|
501,844 |
|
Non-GAAP cost of sales |
|
(392,407) |
|
(367,610) |
|
Non-GAAP gross margin |
|
22.1% |
|
26.7% |
|
| ||||
|
Note : | ||||
|
(1) SMIC defines non-GAAP revenue, non-GAAP cost of sales and non-GAAP gross margin, which are non-GAAP financial measures, as revenue, cost of sales and gross margin, in each case excluding wafer shipments from Wuhan Xinxin. SMIC reviews non-GAAP financial measures together with revenue, cost of sales and gross margin to understand, manage and evaluate its business and make financial and operational decisions. The Company also believe it is useful supplemental information for investors and analysts to assess its operating performance without the effect of wafer shipments from Wuhan Xinxin, which were not output through its production capacity. SMIC announced in March 2013 that it had ceased to manage and operate the 300mm wafer fab in Wuhan owned by Wuhan Xinxin, and began gradually phasing out wafer shipments from Wuhan Xinxin in 3Q13. However, the use of non-GAAP financial measures has material limitations as an analytical tool. One of the limitations of using non-GAAP financial measures is that they does not include all items that impact our net profit for the period. In addition, because non-GAAP financial measures are not calculated in the same manner by all companies, they may not be comparable to other similar titled measures used by other companies. In light of the foregoing limitations, you should not consider non-GAAP financial measure in isolation from or as an alternative to revenue, cost of sales and gross margin prepared in accordance with IFRS. | ||||
