SMIC 2009 planned capital expenditures $ 200,000,000 will soon be selected strategic investors

Semiconductor Manufacturing International Co., Ltd (Semiconductor Manufacturing International Corp., SMI, SMIC) on Wednesday said third-quarter continuing losses due to memory chip prices have fallen sharply. The company also warned that fiscal fourth-quarter revenues are likely to decline over the third fiscal quarter, up 29%.

SMIC, as of September 30 the three-month net loss of 3,030 million U.S. dollars, higher than the year earlier loss of 2,560 million U.S. dollars. Quarter revenue from $ 391,400,000 a year earlier fell to $ 375,900,000, a decline of 4.0%.

The companys fiscal third-quarter gross margin of 10.8% from a year earlier to 7.2%. The second-quarter gross margin was 6.1%. The company also expects capital expenditures for the fiscal fourth quarter from 165 million to 195 million U.S. dollars, lower than the third fiscal quarter to 2.42 billion U.S. dollars.

SMIC chief executive Richard Chang (Richard Chang) said the company plans capital expenditure in 2009 the scale of 2 million, well below the year to 7.9 billion dollars.

Richard Chang said that in the end customer demand conditions of predictability is enhanced before the company will not expand production capacity in 2009. The company will soon be selected strategic investors.

He also said that a letter of intent on the assessment of potential investors has entered the final stage, the company hopes to find a company to help improve marketing and EPC2LI20 datasheet and technology investors. A few months ago has been ruled out in just a financial investment in some of the bidders.

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