Recently, SMIC, the leading enterprise in China's semiconductor industry, released its financial report for the first quarter of 2024. Data shows that the company's Q1 revenue reached an astonishing $1.75 billion, equivalent to approximately RMB 12.635 billion, a significant increase of 19.7% year-on-year and 4.3% month on month compared to the same period last year's $1.462 billion. This achievement not only highlights SMIC's tremendous achievements in technological innovation and market development, but also marks a new height in its position in the global wafer manufacturing industry.

The rapid growth of SMIC stems from continuous breakthroughs in both technology and business in recent years. Technically, SMIC has completed the technological development of the N+2 process, which has greatly enhanced SMIC's competitiveness in the global semiconductor industry. In the business field, SMIC has continuously expanded its business scope and achieved deep cooperation with numerous semiconductor design companies in mainland China, with a strategic layout of co frequency and co vibration, making SMIC stand out in fierce market competition.

Industry analysts point out that SMIC's rapid growth is due to its precise investment and efficient execution in technological innovation and market expansion. With the deepening of global digital transformation, the demand for the semiconductor industry has surged. SMIC has seized this opportunity and not only expanded its production capacity, but also made great efforts in fine management of chip manufacturing and customer service.

After its quarterly revenue surpassed that of two major chip manufacturers, Uni President Semiconductor Manufacturing Corporation (UMC) and Semiconductor Manufacturing Corporation (SMIC) for the first time, SMIC became the world's second largest wafer fab after TSMC. As the industry leader, TSMC's revenue during the same period was 592.644 billion New Taiwan Dollars, equivalent to approximately 132.16 billion RMB or 18.262 billion US dollars. Although SMIC still has a significant gap in revenue compared to TSMC, its growth rate and development potential have been widely recognized in the market.

This leap has not only brought commercial success to SMIC itself, but also injected strong impetus into the overall development of China's semiconductor industry. Against the backdrop of increasing global demand for chips in electronic products, the rise of SMIC has to some extent reduced China's dependence on foreign technology and products in the semiconductor industry, improved the supply capacity and market competitiveness of domestic chips, and promoted China's transformation from a semiconductor powerhouse to a semiconductor powerhouse.

In the future, SMIC will still face fierce competition from the international market, but the company has demonstrated solid strength in technological innovation and market expansion. The market expects SMIC to continue to make further breakthroughs in advanced process technology, consolidate its leading position in the global semiconductor industry by improving product quality and service level, and contribute more to the technological progress and industrial upgrading of China and even the world.

Fushite Technology is deeply involved in the field of power devices, providing customers with microcontrollers (MCUs), touch chips, IGBT, IPM and other power devices. It is an electronic component supplier and solution provider with core technology.