TAIPEI/SHANGHAI Aug 9 SMIC (0981.HK), China's
largest chipmaker, is close to receiving tens of millions of
dollars from the Chinese government, a source said on Monday, in
a move that could help its earnings this year.
Semiconductor Manufacturing International Corp (SMI.N) will
receive the money allocated by China to fund its 11th five-year
plan, which runs from 2006-2010, the source with direct
knowledge of the information said.
"If nothing goes wrong, the money should appear on the
balance sheet of the third or fourth quarter," the source said,
who declined to be named because the information was not yet
A SMIC spokesperson declined to comment ahead of the
company's results announcement on Tuesday. Analysts polled by
Thomson Reuters Starmine are expecting SMIC to report a loss per
share of $0.021.
(Reporting by Jennifer Yang and David Lin; Editing by