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SMIC Reports 2012 Fourth Quarter Results



                   SMIC Reports 2012 Fourth Quarter Results

All currency figures stated in this report are in US Dollars unless stated
otherwise.

The financial statement amounts in this report are determined in accordance
with US GAAP.

PR Newswire

SHANGHAI, Feb. 6, 2013

SHANGHAI, Feb. 6, 2013 /PRNewswire/ -- Semiconductor Manufacturing
International Corporation (NYSE: SMI; SEHK: 981) ("SMIC" or the "Company"),
one of the leading semiconductor foundries in the world, today announced its
consolidated results of operations for the three months ended December 31,
2012.

Fourth Quarter 2012 Highlights:

  o Record high quarterly revenue of $485.9 million in 4Q12, an increase of
    5.4% quarter over quarter, and up 67.8% year over year.
  o $189.8 million net cash generated from operations in 4Q12, $70.8 million
    more than 3Q12.
  o Net income of $39.7 million attributable to Semiconductor Manufacturing
    International Corporation in 4Q12, compared to $12.0 million in 3Q12.
  o Diluted EPS was $0.06 per ADS.

Fourth Quarter 2012 Guidance:

The following statements are forward looking statements which are based on
current expectations and which involve risks and uncertainties, some of which
are set forth under "Safe Harbor Statements" below.

  o Revenue is expected to be flat to up 2%.
  o Gross margin is expected to range from 18% to 20%.
  o Operating expenses excluding the effect of foreign exchange and government
    R&D grants are expected to range from $70 million to $74 million.

First Quarter 2013 Guidance:

The following statements are forward looking statements which are based on
current expectations and which involve risks and uncertainties, some of which
are set forth under "Safe Harbor Statements" below.

  o Revenue is expected to be up 1% to down 2%.
  o Gross margin is expected to range from 17.5% to 19.5%.
  o Operating expenses excluding the effect of foreign exchange, government
    R&D grants and assets disposal are expected to range from $74 million to
    $77 million.
  o 2013 capital expenditure for foundry operations is expected to be
    approximately $600 million.

Dr. Tzu-Yin Chiu, SMIC's Chief Executive Officer and Executive Director,
commented, "I am pleased to report that SMIC has outperformed the foundry
market cycle again in the fourth quarter of  2012. We achieved record high
revenue of $485.9 million, representing sequential growth of 5.4%, and year
over year growth of 67.8%. Furthermore, we delivered a net profit attributable
to SMIC of $39.7 million in the fourth quarter.

"Based on our unaudited financial statements for the full year of 2012, we
also achieved record high revenue of $1.7 billion, representing an increase of
29% year over year. Moreover, we delivered a positive net income attributable
to SMIC of $15.9 million in 2012, which is our highest in seven years. In
2012, because of our improved operations, customer service, and quality, SMIC
gained significant customer confidence, which contributed to high fab
utilization. Apart from improved operations, revenue drivers in 2012 also
included demand for mobile devices. Notably, our revenue from China customers
grew 34.1% in 2012 over 2011, while employing our full spectrum of technology
from 0.35-micron to 40nm.

"Our 45/40nm process commenced volume shipment in the fourth quarter, and its
contribution more than tripled quarter-over-quarter to 2.6% of revenue. Our
28nm offering is on track and both HKMG and PolySiON processes are targeted to
be ready by the fourth quarter of 2013.

"As the leading and most advanced foundry provider in China, we have upgraded
our technology portfolio, services and quality to help all of our customers
participate in the rapidly growing China semiconductor market. The latest
survey published by the Ministry of Industry and Information Technology's
China Software and Integrated Circuit Promotion Center (CSIP) in November 2012
specifies that approximately 75% of Chinese fabless companies choose SMIC as
their preferred foundry partner in 2012, a noticeable and significant
improvement as compared to 59% in 2011.

"I am very pleased with SMIC's achievements in 2012, and we are starting 2013
with both excitement and caution. I believe we have the right strategy, the
right focus and the right team. We will continue to focus on sustainable
profitability, growth, and shareholder value."

Conference Call / Webcast Announcement 

 
Date: February 7, 2013
Time: 8:30 a.m. Shanghai time
Dial-in numbers and pass code: 

 
United States                   1-718-354-1231  (Pass code: SMIC)
Hong Kong                       852-2475-0994   (Pass code: SMIC)
Mainland China                  86-80-0819-0121 (Pass code: SMIC)
Taiwan                          886-2-2650-7825 (Pass code: SMIC)

The call will be webcast live with audio at
http://www.smics.com/eng/investors/ir_presentations.php, or at
http://www.media-server.com/m/p/d532va5f.

An archived version of the webcast, along with an electronic copy of this news
release will be available on the SMIC website for a period of 12 months
following the webcast.

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 0.35-micron to 40-nanometer.
Headquartered in Shanghai, China, SMIC has a 300mm wafer fabrication facility
(fab) and a 200mm mega-fab in Shanghai, a 300mm mega-fab in Beijing, a 200mm
fab in Tianjin, and a 200mm fab project under development in Shenzhen. SMIC
also has customer service and marketing offices in the U.S., Europe, Japan,
and Taiwan, and a representative office in Hong Kong. In addition, SMIC
manages and operates a 300mm wafer fab in Wuhan owned by Wuhan Xinxin
Semiconductor Manufacturing Corporation.

For more information, please visit www.smics.com.

Safe Harbor Statements

(Under the Private Securities Litigation Reform Act of 1995)

This press release contains, in addition to historical information,
"forward-looking statements" within the meaning of the "safe harbor"
provisions of the U.S. Private Securities Litigation Reform Act of 1995. These
forward-looking statements, including statements under "First Quarter 2013
Guidance", and the statement regarding our expectation that both HKMG and
PolySiON processes will be ready by the fourth quarter of 2013 are based on
SMIC's current assumptions, expectations and projections about future events.
SMIC uses words like "believe," "anticipate," "intend," "estimate," "expect,"
"project" and similar expressions to identify forward-looking statements,
although not all forward-looking statements contain these words. These
forward-looking statements involve significant risks, both known and unknown,
uncertainties and other factors that may cause SMIC's actual performance,
financial condition or results of operations to be materially different from
those suggested by the forward-looking statements including, among others,
risks associated with the global economic slowdown, orders or judgments from
pending litigation and financial stability in end markets.

Investors should consider the information contained in SMIC's filings with the
U.S. Securities and Exchange Commission (SEC), including its annual report on
20-F filed with the SEC on April 27, 2012, especially the consolidated
financial statements, and such other documents that SMIC may file with the SEC
or The Hong Kong Stock Exchange Limited ("SEHK") from time to time, including
current reports on Form 6-K. Other unknown or unpredictable factors also could
have material adverse effects on SMIC's future results, performance or
achievements. In light of these risks, uncertainties, assumptions and factors,
the forward-looking events discussed in this press release may not occur. You
are cautioned not to place undue reliance on these forward-looking statements,
which speak only as of the date stated, or if no date is stated, as of the
date of this press release. Except as may be required by law, SMIC undertakes
no obligation and does not intend to update any forward-looking statement,
whether as a result of new information, future events or otherwise.

For the full release, including all financial tables, please visit the
following link:

http://www.prnasia.com/sa/attachment/2013/02/20130206200949951384.pdf

Contact: 

Investor Relations
+86-21-3861-0000 ext. 12804
ir@smics.com

SOURCE Semiconductor Manufacturing International Corporation

Website: http://www.smics.com
Website: http://www.prnasia.com/sa/attachment/2013/02/20130206200949951384.pdf
Website: http://www.smics.com/eng/investors/ir_presentations.php
Website: http://www.media-server.com/m/p/d532va5f
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