Semiconductor Manufacturing International Corp (SMIC), China’s largest contract chip maker, reported a 161.9% increase in first-quarter profit compared to the previous year.

Profit for the March quarter totaled US$188 million. It fell short of analysts’ expectations of US$222.4 million, according to LSEG data.

Revenue rose 28.4% year-on-year to US$2.2 billion but also missed market forecasts of US$2.3 billion.

SMIC is listed on the Hong Kong Stock Exchange under the code 0981.HK and is a key player in China’s semiconductor industry..source-ref{font-size:0.85em;color:#666;display:block;margin-top:1em;}a.ask-tia-citation-link:hover{color:#11628d !important;background:#e9f6f5 !important;border-color:#11628d !important;text-decoration:none !important;}@media only screen and (min-width:768px){a.ask-tia-citation-link{font-size:11px !important;}}