All currency figures stated in this report are in US Dollars unless stated otherwise.
The consolidated financial information is prepared in accordance with International Financial Reporting Standards (“IFRS”) and is presented in accordance with IFRS unless otherwise stated below.

Shanghai, China – February 4, 2020. Semiconductor Manufacturing International Corporation (SSE STAR MARKET: 688981; SEHK: 00981; OTCQX: SMICY) (“SMIC”, the “Company” or “our”), one of the leading semiconductor foundries in the world, today announced its consolidated results of operations for the three months ended December 31, 2020.

Fourth Quarter 2020 Highlights

• Revenue was $981.1 million in 4Q20, compared to $1,082.5 million in 3Q20 and $839.4 million in 4Q19.
• Gross profit was $176.8 million in 4Q20, compared to $262.0 million in 3Q20 and $199.4 million in 4Q19.
• Gross margin was 18.0% in 4Q20, compared to 24.2% in 3Q20 and 23.8% in 4Q19. 

First Quarter 2021 Guidance

The following statements are forward looking statements based on current expectations and involved risks and uncertainties, some of which are set forth under “Forward-Looking Statements” below.The Company expects:

• Revenue toincreaseby 7%to 9%QoQ.
• Gross margin to range from 17% to 19%.

Dr. Gao Yonggang, Chief Financial Officer of SMIC commented:“The Company’s revenue in the fourth quarter of 2020 was US$981 million, and gross margin was 18.0%. Multiple full-year financial metrics for the Company (unaudited) hit record highs. Annual revenue was US$3,907 million, a growth of 25.4%; gross profit was US$921 million, a growth of 43.3%; profit attributable to the company was US$716 million, an increase of 204.9%; and EBITDA was US$2,123 million, a growth of 54.6%.

Looking to 2021, as SMIC was placed on the US Entity List, the Company is restricted from procuring related US items or technologies; so, there are risks and uncertainties to our annual forecasts. The forecast we give today assumes that operational continuity is not significantly adversely affected. Export license application processes must be followed, they take time and will face uncertainty. Based on the above, our targets and plan for 2021 are as follows: our annual revenue target is mid-to-high single digit percentage growth; revenue target for 1st half is around $2.1 billion; and annual gross margin target is in the mid-teens range.”

Dr. Haijun Zhao and Dr. Liang Mong Song, Co-CEOs of SMIC commented:“At present, the foundry industry capacity is tight, the demand for non-FinFET processes remain strong, and our capacity for non-FinFET will continue to be fully loaded. In order to meet customer needs, the Company expects capital expenditures this year to be US$4.3 billion, in which majority is for non-FinFET capacity expansion, and remaining for FinFET, the infrastructure of the new Beijing joint-venture project, and etc. In terms of capacity expansion, we increase monthly non-FinFET capacity by 10,000 for 12-inch, and not less than 45,000 for 8-inch this year. Given the impact of being added to the Entity List, we will consider strengthening the development and deployment of our first and second generation FinFET multi-platforms and expand the reliability and competitiveness of our platforms.”

To see the complete results including financial tables, please click here:

http://www.smics.com/uploads/601bd109/2020%20Q4%20Earnings%20Release_ENG_Final.pdf

Conference Call / Webcast Announcement

Date: February 5, 2021

Time: 8:30 a.m. Beijing time

Dial-in:

Teleconference call services are affected by the COVID-19, operator assisted conference calls are not available at the moment. You must preregister online in order to receive the dial-in numbers.

Online registration:

You may register for the conference call at: http://apac.directeventreg.com/registration/event/8398227

Once preregistration has been complete, you will receive dial-in numbers, the passcode, and a unique registrant ID. To join the conference, dial the number you receive in the email, enter the passcode followed by your registrant ID, and you will join the conference instantly.

The call will be webcast live with audio at:

http://www.smics.com/en/site/company_financialSummary

orhttps://edge.media-server.com/mmc/p/2zpnux3o

An archived version of the webcast, along with an electronic copy of this news release will be available on the SMIC website for a period of 12 months following the webcast.

About SMIC

Semiconductor Manufacturing International Corporation (“SMIC”, SSE STAR MARKET: 688981; SEHK: 00981; OTCQX: SMICY) and its subsidiaries collectively constitute one of the leading foundries in the world, is Mainland China’s most advanced and largest foundry, broadest in technology coverage, and most comprehensive in semiconductor manufacturing services. SMIC Group provides integrated circuit (IC) foundry and technology services on process nodes from 0.35 micron to 14 nanometer. Headquartered in Shanghai, China, SMIC Group has an international manufacturing and service base. In China, SMIC has a 300mm wafer fabrication facility (fab), a 200mm fab and a effectively controlled joint-venture 300mm fab for advanced nodes in Shanghai; a 300mm fab and a majority-owned 300mm fab in Beijing; 200mm fabs in Tianjin and Shenzhen; and a majority-owned joint-venture 300mm bumping facility in Jiangyin. SMIC Group also has marketing and customer service offices in the U.S., Europe, Japan, and Taiwan China, and a representative office in Hong Kong China.

For more information, please visit www.smics.com.

Forward-Looking Statements

This release contains, in addition to historical information, forward-looking statements. These forward-looking statements, including statements under “Quarterly Guidance”, “Capex Summary” and the statements contained in the quotes of our Co-Chief Executive Officers and Chief Financial Officer are based on SMIC's current assumptions, expectations, beliefs, plans, objectives, and projections about future events or performance. SMIC uses words like “believe”, “anticipate”, “intend”, “estimate”, “expect”, “project”, “target”, “going forward”, “continue”, “ought to”, “may”, “seek”, “should”, “plan”, “could”, “vision”, “goals”, “aim”, “aspire”, “objective”, “schedules”, “outlook” and similar expressions to identify forward looking statements, although not all forward-looking statements contain these words. These forward-looking statements are necessary estimates reflecting judgment of SMIC's senior management and involve significant risks, both known and unknown, uncertainties and other factors that may cause SMIC's actual performance, financial condition or results of operations to be materially different from those suggested by the forward-looking statements including, among others, risks associated with cyclicality and market conditions in the semiconductor industry, intense competitionin the semiconductor industry, SMIC's reliance on a small number of customers, timely wafer acceptance by SMIC's customers, timely introduction of new technologies, SMIC's ability to ramp new products into volume, supply and demand for semiconductor foundry services, industry overcapacity, shortages in equipment, components and raw materials, availability of manufacturing capacity, financial stability in end markets, orders or judgments from pending litigation, intensive intellectual property litigation in the semiconductor industry, general economic conditions and fluctuations in currency exchange rates.

In addition to the information contained in this release, you should also consider the information contained in our other filings with The Stock Exchange of Hong Kong Limited (“SEHK”) and Shanghai Stock Exchange (“SSE”) from time to time. Other unknown or unpredictable factors also could have material adverse effects on our future results, performance or achievements. In light of these risks, uncertainties, assumptions and factors, the forward-looking events discussed in this release may not occur. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date stated or, if no date is stated, as of the date of this release. Except as required by applicablelaws, SMIC undertakes no obligation and does not intend to update any forward-looking statementto reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events after the date on which such statement is made or to reflect the occurrence of unanticipated events, whether as a result of new information, future events or otherwise.

About Non-International Financial Reporting Standards (“non-IFRS”) Financial Measures

To supplement SMIC’s consolidated financial results presented in accordance with IFRS, SMIC uses in this release non-IFRS measures of operating results that are adjusted to exclude finance cost, depreciation and amortization, income tax benefits and expenses, the effect of employee bonus accrual, government funding, impairment loss of tangible and intangible assets and gain or loss on the disposal of machinery and equipment. The presentation of non-IFRS financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with IFRS. This earnings release includes EBITDA, EBITDA margin and non-IFRS operating expenses which consist of total operating expenses as adjusted to exclude the effect of employee bonus accrual, government funding, impairment loss of tangible and intangible assets and gain or loss on the disposal of machinery and equipment. These non-IFRS financial measures are not calculated or presented in accordance with, and are not alternatives or substitutes for financial measures prepared in accordance with IFRS, and should be read only in conjunction with the Group's financial measures prepared in accordance with IFRS. The Group's non-IFRS financial measures may be different from similarly-titled non-IFRS financial measures used by other companies.

SMIC believes that use of these non-IFRS financial measures facilitates investors’ and management’s comparisons to SMIC’s historical performance. The Group’s management regularly uses these non-IFRS financial measures to understand, manage and evaluate the Group's business and make financial and operational decisions.

The accompanying table has more information and reconciliations of each non-IFRS financial measure to its most directly comparable IFRS financial measure.

Contact:
Investor Relations
+86-21-2081-2804
ir@smics.com