SMIC reports 35% rise in Q3 revenue, lifts capital expenditure plan

FILE PHOTO: A logo of Semiconductor Manufacturing International Corporation (SMIC) is seen at China International Semiconductor Expo (IC China 2020) following the coronavirus disease (COVID-19) outbreak in Shanghai, China October 14, 2020. REUTERS/Aly Song

SHANGHAI (Reuters) - Chinese chip foundry Semiconductor Manufacturing International Corp (SMIC) saw revenue rise 34.7% year-on-year to $1.91 billion in the third quarter, according to a market filing published on Thursday.

Gross profit was $742.2 million, up 58.6% year-on-year, and the company revised its capital expenditure plan for the year from $5 billion to $6.6 billion.