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SMICY - China: Who Needs TSMC When They Have SMIC?
Semiconductor Manufacturing Intl Co ADR
China has been making strides to decrease its dependence on foreign companies who make semiconductors. According to our report entitled "Mainland China's Semiconductor and Equipment Markets: Analysis and Manufacturing Trends," China imported 445.13 billion integrated circuits in 2019, an increase of 6.6% year-on-year. The amount of imports was $305.55 billion, down 2.1% YoY. The export of integrated circuits was 218.7 billion units, an increase of 0.7% YoY. The export value was $101.58 billion, an increase of 20% year-on-year.
Semiconductor Manufacturing International (SMIC) (OTCQX:SMICY) is the fifth largest pure play foundry (a foundry that