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SMIC Reports 2020 Fourth Quarter Results

SMIC Reports 2020 Fourth Quarter Results
All currency figures stated in this report are in US Dollars unless stated otherwise.
The consolidated financial statements are prepared in accordance with International Financial Reporting Standards ( IFRS ).
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SHANGHAI, Feb. 4, 2021 /PRNewswire/ Semiconductor Manufacturing International Corporation (SSE STAR MARKET: 688981; SEHK: 00981;OTCQX: SMICY) ( SMIC , the Company or we ), one of the leading semiconductor foundries in the world, today announced its consolidated results of operations for the three months ended December 31, 2020.
20
Quarter Highlights
Revenue was $981.1 million in 4Q20, compared to $1,082.5 million in 3Q20 and $839.4 million in 4Q19.
Gross profit was $176.8 million in 4Q20, compared to $262.0 million in 3Q20 and $199.4 million in 4Q19. ....

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Alert: US Government Imposes Export Restrictions on SMIC, DJI and 75 Other Entities | Cooley LLP

de minimis amount of US-origin controlled content
certain foreign-made direct products of US-origin technology or software
certain commodities produced by any plant or major component of a plant located outside the United States that is a direct product of US-origin technology or software
Exports to designated entities will not be eligible for any license exceptions under the EAR, and license applications for exports to these entities will be subject to a policy of denial with few exceptions.
The Final Rule contains a “savings clause” that authorizes affected shipments to the newly designated entities, provided they were shipped prior to December 18, 2020 and are ....

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US maximizes sanctions pressure on China with "Entity Listing" of 59 Chinese entities

US maximizes sanctions pressure on China with "Entity Listing" of 59 Chinese entities
lexology.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from lexology.com Daily Mail and Mail on Sunday newspapers.

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US maximizes sanctions pressure on China with "Entity Listing" of 59 Chinese entities | Eversheds Sutherland (US) LLP

items that are located in the US, even temporarily; and
non-US-origin items that contain more than a de minimis level of controlled US-origin content (for non-embargoed countries, this is 25% US origin content by value).
The ban applies only to the named affiliates and does not extend automatically to subsidiaries of listed entities. At the same time, transfer of goods, software or technologies to affiliates of named entities risk violating the sanctions if there is reason to know that a named entity could receive or have access to the items.
Parties desiring to export prohibited items to entities on the Entity List may apply to BIS for a license. ....

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Dow Jones Today, Stocks Lose Ground Amid Vaccine, Stimulus Expectations; Nike Stock Rises Before Earnings

Dow Jones Today, Stocks Lose Ground Amid Vaccine, Stimulus Expectations; Nike Stock Rises Before Earnings
investors.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from investors.com Daily Mail and Mail on Sunday newspapers.

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