A logo of Semiconductor Manufacturing International Corporation (SMIC) is seen at China International Semiconductor Expo (IC China 2020) following the coronavirus disease (COVID-19) outbreak in Shanghai, China October 14, 2020.
REUTERS/Aly Song/File photo Acquire Licensing RightsNov 9 (Reuters) - Semiconductor Manufacturing International Corp (0981.HK) on Thursday lifted its annual capital expenditure forecast to around $7.5 billion and said it expects lower fourth-quarter gross margins.
SMIC expects a gross margin of between 16% and 18% in the fourth quarter, compared with 19.8% in the third quarter.
Revenue for the third quarter fell to $1.62 billion from $1.91 billion a year ago, but the company expects a sequential increase of 1% to 3% in the fourth quarter.
SMIC had previously said it expects capital expenditure in 2023 to be roughly flat compared with 2022, which came in at about $6.35 billion.
Persons:
Aly, TSMC, Germany's, SMIC, Nausheen, Devika
Organizations:
Semiconductor Manufacturing International Corporation, China International Semiconductor, REUTERS, Semiconductor Manufacturing International Corp, HK, SMIC, Revenue, Thomson
Locations:
Shanghai, China, Bengaluru