SMIC Reports 2013 Third Quarter Results

The following table sets forth the reconciliation of each of non-GAAP revenue, non-GAAP cost of sales and non-GAAP gross margin to its most directly comparable financial measure presented in accordance with IFRS, for the periods indicated.

Semiconductor Manufacturing International Corporation

CONDENSED CONSOLIDATED STATEMENTS OF PROFIT OR LOSS AND COMPREHENSIVE INCOME

(In US$ thousands)




For the three months ended



September 30, 2013


June 30, 2013


September 30, 2012



(Unaudited)


(Unaudited)


(Unaudited)

Revenue


534,256


541,302


461,168

Revenue from Wuhan Xinxin


(30,587)


(39,458)


(47,391)

Non-GAAP revenue


503,669


501,844


413,777








Cost of sales


(422,274)


(406,075)


(334,347)

Cost of sales of Wuhan Xinxin


29,867


38,465


46,204

Non-GAAP cost of sales


(392,407)


(367,610)


(288,143)








Gross margin


21.0%


25.0%


27.5%

Non-GAAP gross margin


22.1%


26.7%


30.4%

 


Semiconductor Manufacturing International Corporation

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

(In US$ thousands)




As of



September 30, 2013


June 30, 2013



(Unaudited)


(Unaudited)

ASSETS





Non-current assets





Property, plant and equipment


2,558,563


2,523,893

Prepaid land use right


123,974


124,818

Intangible assets


227,380


228,898

Investments in associates


23,758


23,189

Deferred tax assets


43,889


43,802

Other assets


36,969


37,926

Total non-current assets


3,014,533


2,982,526

Current assets





Inventories


289,954


308,328

Prepaid operating expenses


48,383


57,231

Trade and other receivables


396,108


472,426

Other financial assets


2,574


2,881

Restricted cash


195,813


214,430

Cash and bank balances


473,507


262,955



1,406,339


1,318,251

Assets classified as held-for-sale


210


922

Total current assets


1,406,549


1,319,173

TOTAL ASSETS


4,421,082


4,301,699






EQUITY AND LIABILITIES





Capital and reserves





Ordinary shares, $0.0004 par value, 50,000,000,000 shares

authorized, 32,088,989,727 and 32,075,631,400 shares issued and
         outstanding at September 30, 2013 and June 30, 2013, respectively


12,836


12,830

Share premium


4,088,854


4,088,071

Reserves


56,993


53,079

Accumulated deficit


(1,708,540)


(1,751,031)

Equity attributable to owners of the Company


2,450,143


2,402,949

Non-controlling interests


109,238


789

Total equity


2,559,381


2,403,738

Non-current liabilities





Borrowings


553,435


474,692

Deferred tax liabilities


207


257

Deferred government grant


213,098


147,952

Long-term financial liabilities


5,429


4,989

Total non-current liabilities


772,169


627,890

Current liabilities





Trade and other payables


402,827


537,003

Borrowings


548,385


586,425

Deferred government grant ( 1 )


17,833


26,924

Accrued liabilities


105,497


104,678

Promissory notes


14,895


14,791

Other financial liabilities


10


107

Current tax liabilities


85


143

Total current liabilities


1,089,532


1,270,071

Total liabilities


1,861,701


1,897,961

TOTAL EQUITY AND LIABILITIES


4,421,082


4,301,699


Note :

(1) The Company made a reclassification of part of non-current deferred government grant to current liability as of June 30, 2013.


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