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Industry news

Shenzhen Baidu Micro Semiconductor Co., Ltd.:Zhongxin International achieved net profit of $12.3 million in the first quarter
The author: Time: reading:1460
Zhongxin International released its first quarter results in 2019. According to the results, the first quarter revenue of Zhongxin International was 668.9 million US dollars, and the market forecast was 657.5 million US dollars; the first quarter net profit was 12.3 million US dollars, and the market forecast loss was 44.4 million US dollars.


Zhongxin International achieved net profit of $12.3 million in the first quarter
Sales in the first quarter of 2019 amounted to $669 million, mainly due to reduced wafer shipments and changes in product mix in the first quarter of 2019.

In the first quarter of 2019, research and development expenditure decreased by $57.877 million in net quarterly. Excluding government funding for research and development contracts, research and development expenditure decreased by $34.8 million quarterly.

This change is mainly due to the low R&D activities in the first quarter of 2019. In terms of research and development contracts, the amount of funds received from government projects was $73.1 million in the first quarter of 2019.

The planned capital expenditure for the operation of wafer factories in 2019 is about $2.1 billion, mainly for the machinery and equipment of Zhongxin International's 300 mm wafer factory in Shanghai and the FinFET R&D line. The capital expenditure planned for the operation of amorphous wafer factories in 2019 is about $106 million, mainly for the construction of employee living parks.






Monthly production capacity increased from 4513,000 8-inch wafers in the fourth quarter of 2018 to 468,000-inch wafers in the first quarter of 2019, mainly due to the expansion of production capacity of Beijing 300 mm wafer factory in the first quarter of 2019.






Dr. Zhao Navy, Chief Executive Officer of Zhongxin International Co-operation, said: "We see that the first quarter of this year's low revenue, the end of the industrial inventory cycle adjustment, the new mature process platform that Zhongxin has worked hard is also ready, and new applications such as analog and power management chips, CMOS radio frequency and Internet of Things chips are driving the growth of performance. Revenue in the second quarter is expected to rise by 17% to 19% annually.