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China’s biggest chipmaker SMIC posts record revenue despite U.S. sanctions - superadmin - 02-12-2022 China’s largest chipmaker Semiconductor Manufacturing International Corporation reported record revenue and a surge in profit last year. That record performance came despite SMIC being put on a U.S. trade blacklist called the Entity List in 2020. SMIC is also continuing to invest heavily and the company said that it plans to spend $5 billion in capital as it tries to get three new plants off the ground. China’s largest chipmaker Semiconductor Manufacturing International Corporation reported record revenue and a surge in profit last year amid a global chip shortage but strong demand. SMIC recorded 2021 revenue of $5.44 billion up 39% year-on-year, the fastest growth rate since 2010. Profit came in at $1.7 billion marking a 138% year-on-year rise. That record performance came despite SMIC being put on a U.S. trade blacklist called the Entity List in 2020. - More -