RTTNews | Aug 5, 2021 09:37AM EDT

09:36 Thursday, August 5, 2021 (RTTNews.com) - Semiconductor Manufacturing International Corporation or SMIC reported that its second-quarter revenue was $1.34 billion, an increase of 43.2% from $938.5 million in last year.

Revenue for the third quarter is expected to grow 2% to 4% sequentially, and gross margin is expected to range from 32% to 34%.

The company now raised its annual revenue growth target and gross margin target to be around 30% respectively. The adverse impact of advanced technology to the company's overall gross margin is expected to decrease to around 5 percentage points, due to depreciation and amortization allocated to more output.

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