Q2 revenue was up 42% y-o-y at $1.9 billion boosted by sales for chips for smart home applications.
Q2 capacity utilisation dropped to 97% from more than 100% in Q2 2021.
Q2 capex was $1.6 billion and H1 capex was $2.5 billion.
Capital expenditures topped $1.6 billion for the April-June quarter and totalled $2.5 billion for the first half of 2022.
Total planned 2022 capex is $5 billion.
SMIC’s forecast stated that the industry’s “cycle adjustment will last at least until the first half of next year.”
