Chinese chipmaker SMIC reports revenue increase in Q4

BEIJING - Chinese chipmaker Semiconductor Manufacturing International Corporation (SMIC) said Friday its revenue had experienced year-on-year growth in the fourth quarter of 2022.

In a report made public on its official website, SMIC said its revenue in the fouth quarter of 2022 rose to $1.62 billion, up from $1.58 billion registered in the fourth quarter of 2021.

The company's profit from operations from October to December last year hit $282 million, according to the report.

By the end of 2022, the company had total cash on hand valued at $18.66 billion.