Use wechat to scan the QR code < / P > < p > to share with friends and circle of friends < / P > < p > on March 1, Jiwei learned from the supply chain that < a target = "_ blank" href=" https://news.163.com/news/search?keyword=%E4%B8%AD%E8%8A%AF%E5%9B%BD%E9%99%85 "> SMIC < / a > has obtained supply licenses from some US equipment manufacturers, mainly covering mature process < a target ="_ blank" href=" https://news.163.com/news/search?keyword=%E5%8D%8A%E5%AF%BC%E4%BD%93%E8%AE%BE%E5%A4%87 "> semiconductor devices < / a > etc. < / P > < p > recently, the Morgan Stanley research report pointed out that the U.S. equipment suppliers have recently resumed their investment in SMIC_ blank" href=" https://news.163.com/news/search?keyword=%E9%9B%B6%E7%BB%84%E4%BB%B6 "> parts < / a > supply and field service. After obtaining the supply license from American equipment manufacturers, SMIC's operation prospect will be further clarified. < / P > < p > in the fourth quarter of 2020, Zhao Haijun, CEO of SMIC international, said that after being included in the list of entities, the company and its suppliers actively applied for permits at the first time. Although the external force majeure can not be controlled, the company will definitely encounter new opportunities in the crisis, open up new opportunities in the changing situation, continue to spare no effort to save itself, and always aim at serving global customers . (proofreading / nagging) < / P > < p > < b > related reading: < / b > < / P > < p > < / P > < p > < b > SMIC has made money. However, this is not important. How to complete localization is the key; "> light of chips" < span style = "box sizing: inherit; text decoration thickness: initial; text decoration style: initial; text decoration color: initial;" > SMIC recently released its financial report for the fourth quarter of 2020. In terms of financial reports, both income and net profit have achieved year-on-year growth. In 2020, the net profit attributable to the parent company is 4.332 billion yuan, even a sharp increase of 142% year-on-year. < / P > < p > SMIC international may also change from "SMIC international-u" to "SMIC international" ("U" represents that the listed company is not yet profitable). In 2020, SMIC has achieved good results in terms of various indicators. < / P > < p > however, the industry is not concerned about its profits, but more about when SMIC can complete the localization of its production line and go to the United States; whether it can enter the era of 7Nm process chips as soon as possible, and whether SMIC can achieve high-speed growth in 2021 without Huawei's big customers? < p > < p > on February 5, the day after the financial report was announced, SMIC's Hong Kong stocks fell sharply. As of 10:11 a.m., SMIC fell 7.69% to HK $25.2, with a market value of HK $150.1 billion. According to the financial report, in the fourth quarter of 2020, SMIC achieved an operating revenue of $981 million, an increase of 16.9% over the same period of last year, and its profit attributable to the company was about $257 million, an increase of 189.7% over the same period of last year. < / P > < p > the reason why SMIC was able to achieve year-on-year growth was due to the increase in wafer sales and average selling price in the fourth quarter, as well as the increase in investment income and inventory loss from government project funds, joint ventures and financial assets. < / P > < p > however, it should be noted that although the revenue and profit of SMIC increased year-on-year in the fourth quarter of 2020, it decreased month on month. According to the financial report, SMIC's revenue in the fourth quarter decreased by 9.4% compared with that in the third quarter. SMIC said the decline was due to the decrease in wafer sales and other revenue. < / P > < p > from the perspective of the whole year, in 2020, the parent net profit without audit was 4.332 billion yuan, an increase of 142% over the same period of last year; in 2020, the net profit without audit was 1.697 billion yuan, while in 2019, it was a loss of 522 million yuan. < / P > < p > SMIC's net profit in 2020 surged by 142%, indicating that it will achieve profitability, which means that SMIC's A-share stock identification will change from "smic-u" to "SMIC". It is understood that the special logo "U" of the science and technology innovation board represents that the listed company has not yet made profits. If the issuer makes profits for the first time, the special logo will be cancelled. < / P > < p > for the satisfactory answers delivered in 2020, SMIC said that it mainly benefited from the strong demand of consumer electronics, information communication and other industries in 2020, the increase of chip usage, the overall tight production capacity of the wafer foundry industry, the strong demand for mature processes, and the annual revenue growth of the company. < p > < p > Zhao Haijun and Liang Mengsong, CO executives of SMIC, said that the current capacity of the wafer foundry industry is tight, especially the demand for mature processes is strong, and it is expected that the company's mature capacity will continue to be full. < / P > < p > in order to continue to meet the needs of customers, SMIC expects to spend US $4.3 billion in capital expenditure in 2021, most of which will be used for the expansion of mature processes (above 28nm), and a small part will be used for advanced processes (below 28nm) and civil engineering and other new joint venture projects in Beijing. < / P > < p > it can be seen that SMIC is full of confidence in the sales volume of mature process in 2021. < / P > < p > even if SMIC made a profit, its net profit even increased sharply. However, the industry's expectations for him are far beyond that. < p > < p > < B style = "box sizing: inherit;" > "domestic and foreign troubles" SMIC faces a great challenge in 2021 < / b > < / P > < p > as mentioned above, although the fourth quarter of 2020 has achieved year-on-year growth, it has seen a month on month decline. In terms of its revenue structure in the fourth quarter of 2020, the proportion of 14 / 28nm process revenue in the fourth quarter of 2020 dropped sharply, accounting for only 5%, while the proportion of revenue in the third quarter of 2020 was 14.6%. < / P > < p > according to the analysis, this is because SMIC lost Huawei, its largest customer of 14nm. In the fourth quarter, it was unable to supply Huawei, which led to a sharp decline in its revenue from advanced manufacturing processes. < / P > < p > it is understood that at the performance presentation meeting in August 2020, Liang Mengsong, CO chief executive of SMIC, did not give up. Huawei responded: SMIC abides by international regulations and does not violate international regulations. Moreover, SMIC has a large number of orders waiting to enter the limited capacity, which will not have a great impact.

was SMIC international investors and netizens Tucao: if SMC can not supply HUAWEI, "make complaints about what you want"? It is understood that at that time, SMIC International's share price fell. < / P > < p > in fact, after September 14, 2020, SMIC will no longer supply goods to Huawei. < / P > < p > previously, Huawei was < span style = "box sizing: inherit; text decoration thickness: initial; text decoration style: initial; texT-decoration-color: initial; "> after TSMC's < / span > power outage, TSMC entrusted 14 nm Kirin 710A entry-level mobile phone chip to SMIC. Although the 14nm process is not the mainstream, it is of great significance, which means that from chip design to OEM to mobile phone, all of them have been localized. < / P > < p > in addition to the loss of key customers, SMIC has also been sanctioned by the United States and is facing great uncertainty. As for the performance in the next year, SMIC said that because it was listed in the list of entities by the US government, it was restricted in purchasing US related products or technologies, which brought uncertainty risk to the performance expectation. In addition, the application for export license must go according to the process, which takes time and also has certain uncertainty. < / P > < p > in addition to these "foreign troubles", SMIC has also been criticized as "chaotic internal management". The typical event is the change of Liang Mengsong and Jiang Shangyi. In December 2020, SMIC announced the appointment of Jiang Shangyi as vice chairman of the board of directors, class II executive director and member of the strategy committee, which will take effect from December 15, 2020. However, Jiang Shangyi's taking office has triggered the sudden resignation of Liang Mengsong, the current co CEO of SMIC. This incident has also been interpreted as "internal strife", "management confusion" and so on. < / P > < p > in fact, in addition to "internal and external troubles", SMIC is also highly expected by the public: when to develop a mature 7Nm process, when to realize the domestic production line, and when to beautify. < / P > < p > it is reported that under the joint research and development of Chinese Academy of Sciences and SMIC international, SMIC international already has a lithography process that can match the 7Nm process. However, it is still in the experimental stage and can not be mass produced for the time being. < / P > < p > < / P > < p > "SMIC's performance in 2020 has reached a new high. Congratulations. But the challenge this year is really too big. Internal management, external sanctions, without Huawei this super cot customer. This year is not easy for SMIC! " This is the analysis of Gu Wenjun.