BEIJING, Oct. 31 (InfoChina) – Semiconductor Manufacturing International Corporation (SMIC) (SMI. NYSE, 981HK:), China’s leading semiconductor foundry, Tuesday released its Q3 financial report showing a loss of 25.6 million U.S. dollars (199 million HK dollars) or 6.9 cents per ADR due to recent plummet of DRAM price, on 6.1 percent revenue growth over the same period of last year to 391.4 million U.S. dollars.
The quarterly financial statistics show that 23.6 percent of the company’s revenue in the third quarter came from DRAM chip business, compared with 28.9 percent in the quarter.
The poor financial results dismayed Thomson analysts, who earlier forecasted the company might lose 120 million HK dollars at most.
Richard Chang, Chief Executive Officer of SMIC remarked, despite the strength of non-DRAM foundry services, the company’s business was severely affected by ongoing severe price declines in the DRM market. (Edited by Zhu Zhu, )
China Stock News 
