Key Developments: Semiconductor Manufacturing International Corp (SMI)

SMI on New York Consolidated

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21 Aug 2014
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Latest Key Developments (Source: Significant Developments)

Semiconductor Manufacturing International Corp and JCET establish joint venture in Jiangyin National High-Tech Industrial Development Zone
Friday, 8 Aug 2014 04:00am EDT 

Semiconductor Manufacturing International Corp:Says Semiconductor Manufacturing International Corporation (SMIC) and Jiangsu Changjiang Electronics Technology Co., Ltd. (JCET) jointly announces formation of joint venture.Says for 12-inch bumping and related testing, from previously signed joint venture agreement, which will be established in Jiangyin National High-Tech Industrial Development Zone (JOIND), in Jiangsu Province, China.By setting up in Jiangyin National High-Tech Industrial Development Zone, the joint venture can benefit from Jiangyin's location and mature industrial environment to quickly set up 12-inch wafer bumping and CP testing production line (Middle-End-Of-Line).Joint venture can also utilize JCET's nearby advanced back-end packaging production line, which includes Flip-Chip to support advanced Back-End-Of-Line production for 40/45nm, 28nm and below.Together with SMIC's 12-inch front-end advanced chip production line in development, this will be China's first-ever domestic 12-inch advanced IC manufacturing supply chain.This supply chain will shorten the overall manufacturing cycle time.More importantly, its close proximity to China's consumer electronic industry and end-market, will allow customers to respond with a shorter time-to-market window, and therefore better serve the fast changing consumer electronic market.  Full Article

Semiconductor Manufacturing International Corp gives Q3 2014 revenue outlook below analysts' estimates
Wednesday, 6 Aug 2014 07:43am EDT 

Semiconductor Manufacturing International Corp:Expects Q3 2014 revenue to increase 1- 5 pct quarter over quarter.Reported revenue of $511.3 mln in Q2 2014.Q3 2014 revenue of $569.8 mln - Thomson Reuters I/B/E/S.  Full Article

Semiconductor Manufacturing International Corp announces completion of placing of existing shares and subscription of new shares
Thursday, 12 Jun 2014 08:52am EDT 

Semiconductor Manufacturing International Corp:Completes Placing on June 09, 2014 and completion of Subscription took place on June 12, 2014.Pursuant to terms and conditions of Placing and Subscription Agreement, total of 2,590,000,000 Sale Shares were successfully placed by Joint Placing Agents to not fewer than six independent Placees.Says Placees are third parties independent of and not connected with Company and its connected persons, at placing price of HK$0.60 per Sale Share.Company allotted and issued 2,590,000,000 Subscription Shares, representing about 7.44 pct of issued share capital of Company as enlarged by issue of 2,590,000,000 new Shares, to Vendor at price of HK$0.60 per Subscription Share.  Full Article

Semiconductor Manufacturing International Corp announces placing of existing shares and subscription of new shares and proposed issue of $95 mln zero coupon convertible bonds due 2018
Thursday, 5 Jun 2014 12:29am EDT 

Semiconductor Manufacturing International Corp:Says the vendor entered into the placing and subscription agreement with the joint placing agents and the company.Pursuant to which the vendor agreed to appoint the joint placing agents, and each of the joint placing agents has agreed, severally and not jointly, to act as agent for the vendor.To purchase or procure purchasers to purchase 2,590,000,000 sale shares held by the vendor at the price of HK$0.60 per sale share.The Vendor will subscribe for 2,590,000,000 Subscription Shares at the price of HK$0.60 per subscription share.An application will be made to the Hong Kong Stock Exchange for the listing of, and permission to deal in, the subscription shares.Says the company and the joint managers entered into the bond subscription agreement.Pursuant to which each of the joint managers has agreed to subscribe and pay for, or to procure subscribers to subscribe and pay for the further bonds to be issued by the company in an aggregate principal amount of $95 mln.An application will be made to the Hong Kong Stock Exchange for the listing of, and permission to deal in, the new conversion shares.Net proceeds (net of fees, commissions and expenses) from the issue of the Subscription Shares and the Further Bonds will be about $291.2 mln.Intends to use the net proceeds for its capital expenditure used for capacity expansion associated with 8-inch and 12-inch manufacturing facilities and general corporate purposes.  Full Article

Semiconductor Manufacturing International Corp announces change in auditors
Wednesday, 30 Apr 2014 05:32am EDT 

Semiconductor Manufacturing International Corp:Says Deloitte Touche Tohmatsu (‘Deloitte’) will retire as auditors upon expiration of its current term of office at conclusion of the forthcoming annual general meeting on June 27.Appoints PricewaterhouseCoopers (PwC) as auditors of Company.  Full Article

Semiconductor Manufacturing International Corp announces proposed change of auditors
Tuesday, 29 Apr 2014 08:18am EDT 

Semiconductor Manufacturing International Corp:Says that Deloitte Touche Tohmatsu will retire as auditors of the company upon expiration of its current term of office at conclusion of forthcoming annual general meeting of the company to be held on June 27.Resolves to propose appointment of PricewaterhouseCoopers as auditors of the company at AGM following retirement of Deloitte and to hold office from conclusion of AGM until conclusion of next following annual general meeting of the company.  Full Article

Semiconductor Manufacturing International Corp gives Q2 2014 revenue outlook below analysts' estimates
Monday, 28 Apr 2014 07:08am EDT 

Semiconductor Manufacturing International Corp:Expects Q2 2014 revenue to be up from 12- 15 pct quarter over quarter.Reported revenue of $541.30 mln in Q2 2013.FY 2014 revenue of $525.99 mln - Thomson Reuters I/B/E/S.  Full Article

Semiconductor Manufacturing International Corp and JCET establish joint venture
Thursday, 20 Feb 2014 06:15am EST 

Semiconductor Manufacturing International Corp and Jiangsu Changjiang Electronics Technology Co. Ltd:Announces a joint venture for 12" bumping and related testing.Says JCET will also build advanced back-end package production lines nearby.Says the two parties will use this as a base to jointly set up and develop an IC manufacturing supply chain within China to provide a one-stop-shop service for global customers focusing on the China market.  Full Article

Semiconductor Manufacturing International Corp gives Q1 2014 revenue guidance below analysts' estimates
Monday, 17 Feb 2014 09:45am EST 

Semiconductor Manufacturing International Corp:Expects Q1 2014 revenue to be down 5pct to down 9pct quarter over quarter [$440 million to $460 million].Q1 2014 revenue of $501 million - Thomson Reuters I/B/E/S.  Full Article

Semiconductor Manufacturing International Corp appoints new CFO
Monday, 17 Feb 2014 06:35am EST 

Semiconductor Manufacturing International Corp:Appoints Gao Yonggang as the chief financial officer of the company.Effect from Feb. 17.  Full Article

Qualcomm turns to China's SMIC for Snapdragon chip production

SAN FRANCISCO - Qualcomm, which makes mobile chips, said on Thursday that Chinese contract manufacturer SMIC would produce its Snapdragon processors.

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