➀ SMIC's Q2 2024 net profit dropped by 62.9% to $172 million, but revenue increased by 21.8% to $1.901 billion, indicating a recovery in downstream demand. ➁ The company's capacity utilization rate improved to 85.2%, up from 76.8% in Q4 2023, showing resilience in the face of global overcapacity and price wars. ➂ Despite the profit decline, SMIC's strategy of focusing on low-end consumer electronics and domestic chip demand is paying off, with expectations of further growth in the second half of 2024.

❶ The U.S. has sanctioned 18 Chinese semiconductor fabs, but many remain in the white zone, allowing them to purchase equipment. ❷ China is accelerating domestic chipmaking equipment development to reduce reliance on foreign tools in response to U.S. export controls. ❸ SMIC is focusing on expanding capacities at mature nodes and using Western tools for advanced node production, despite U.S. restrictions.

1. TDK has developed a 1,000Wh/L solid-state battery as a replacement for coin cells, utilizing proprietary material technology. 2. CML Micro announces the launch of a Ka-band GaN power amplifier for satellite communication terminals. 3. QuickLogic joins Intel Foundry's Accelerator IP and USMAG Alliances, marking a significant milestone. 4. Intel's 3nm process is in high volume production, delivering performance improvements. 5. SMIC ranks as the No.3 foundry, overtaking GlobalFoundries and UMC.

1. SMIC overtook GlobalFoundries and UMC to become the No.3 foundry in Q1 2024. 2. The top 10 foundries saw a QoQ revenue drop of 4.3% to $29.2 billion. 3. TSMC maintained its market share at 61.7% despite a QoQ revenue drop of 4.1%.

1. TrendForce reports a 4.3% QoQ revenue drop for top 10 semiconductor foundries in 1Q24. 2. The decline is attributed to the traditional off-season for consumer demand. 3. SMIC rises to the third spot in the ranking.