SHANGHAI, June 29 /PRNewswire-Asia/ -- Semiconductor Manufacturing
International Corporation ('SMIC' or the 'Company') (NYSE: SMI; SEHK: 981),
one of the leading semiconductor foundries in the world, announces today an
upward revision of Q2 revenue guidance for the three months ended June 30,
2009, which was originally released by the Company in its results for the
three months ended March 31, 2009 on April 29, 2009 (the 'Original Revenue
Guidance').
'Since the release of our Q2 revenue guidance, we have seen strong growth
in our customer orders, exceeding our earlier expectation, due to the robust
demand in the China market. Therefore, we are now revising up our Q2 revenue
guidance to a quarter-on-quarter increase of 76% to 78%, from the original
guidance of an increase of 58% to 62%,' said Morning Wu, Acting Chief
Financial Officer and Chief Accounting Officer.
There is evidence that the economy is stabilizing but it is far from
recovery. It is unclear whether the strong growth in our customer orders seen
by the Company for Q2 comes from rushed orders by customers to replenish
inventory or is an indication of the beginning of a sustainable recovery of
the economy in general. The Company cannot at the moment give, and is not
giving, any guidance on Q3 or onwards revenues.
About SMIC
Semiconductor Manufacturing International Corporation ('SMIC'; NYSE: SMI;
SEHK: 981) is one of the leading semiconductor foundries in the world and the
largest and most advanced foundry in Mainland China, providing integrated
circuit (IC) foundry and technology services at 0.35um to 45nm. Headquartered
in Shanghai, China, SMIC has a 300mm wafer fabrication facility (fab) and
three 200mm wafer fabs in its Shanghai mega-fab, two 300mm wafer fabs in its
Beijing mega-fab, a 200mm wafer fab in Tianjin, a 200mm fab under construction
in Shenzhen, and an in-house assembly and testing facility in Chengdu. SMIC
also has customer service and marketing offices in the U.S., Europe, and Japan,
and a representative office in Hong Kong. In addition, SMIC manages and
operates a 200mm wafer fab in Chengdu owned by Cension Semiconductor
Manufacturing Corporation and a 300mm wafer fab in Wuhan owned by Wuhan Xinxin
Semiconductor Manufacturing Corporation.
