Bussard Ramjet
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SMIC looking good
SMIC 2016 Annual Results Announcement
PR Newswire March 27, 2017
SHANGHAI, March 27, 2017 /PRNewswire/ -- Semiconductor Manufacturing International Corporation (NYSE: SMI; SEHK: 981) ("SMIC" or the "Company"), one of the leading semiconductor foundries in the world, today announces the audited consolidated results of the Company for the year ended December 31, 2016.
FINANCIAL HIGHLIGHTS
- Revenue was a record high of US$2,914.2 million in 2016, compared to US$2,236.4 million in 2015, representing an increase of 30.3%.
- Gross profit was a record high of US$849.7 million in 2016, compared to US$682.6 million in 2015, representing an increase of 24.5%.
- Profit for the period attributable to owners of the Company was also a record high of US$376.6 million in 2016, compared to US$253.4 million in 2015, representing an increase of 48.6%.
- Revenue from China-region customers grew to an all-time high of 49.7% of total revenue in 2016, compared to 47.7% in 2015, representing a revenue increase of 35.7%.
- Net cash generated from operating activities was a record high of US$977.2 million in 2016, compared to US$669.2 million in 2015, representing an increase of 46.0%.
- Cash and cash equivalents and other financial assets totaled US$2,157.6 million as of December 31, 2016, compared to US$1,288.1 million as of December 31, 2015, representing an increase of 67.5%.
- The net debt to equity ratio remained low at 16.1% as of December 31, 2016.
The real test will be if it can be a leader in technologies.
It's 28 nm hardly contributes to any revenues, and I have heard a lot about various problems with its 28 nm, the reason why people aren't placing massive orders.
I have heard a lot about lower nodes. Let's hope that is correct.
TSMC plans to reach 3 nm by 2021.
Whta it needs to do is simply brute force, hire more engineers, more capex spending.
But if I correctly remember TSMC has a research budget that is 5 times that of smic. (don't quote me yet, let me find the source)
Instead of giving free cash to zombie companies, and other SOEs in different stages of decay, it should be given to smic, because they have shown good administration, and working.
In fact Tsinghua uni group is totally he'll bent on capex. It owns literally no IP. And doesn't even have a plan to own one.