China chipmaker SMIC hikes capex to $7.5bn despite profit slump

TAIPEI -- China's top chipmaker Semiconductor Manufacturing International Corp. (SMIC) raised its capital expenditure budget for 2023 to $7.5 billion amid escalating U.S.-China tensions, despite posting an 80% net profit decline in July-September. Net profit dropped to $94 million from $470.8…#taipei #smic #uschina
Source: Reuters: Health - Category: Consumer Health News Source Type: news