Semiconductor Manufacturing International Corporation (SMIC) expects full-year revenue to exceed $9 billion, citing tight capacity and supply-chain localisation. Quarterly revenue rose to $2.38 billion, with a gross margin of 22%. SMIC’s monthly capacity expanded to over 1 million wafers. The company is a key player in China’s chip ambitions, despite lagging behind international leaders. Revenue from China rose 11% quarter on quarter. SMIC anticipates flat to 2% growth in the fourth quarter. The company’s shares briefly rose before closing down. SMIC’s CEO predicts continued domestic capacity expansion in the wafer foundry industry.

Read more at Yahoo Finance: SMIC shrugs off US curbs with record revenue outlook on back of tight chip supply