SMIC, the Beijing and Shanghai foundry company, saw 2017 revenues grow 6.4%  to  $3.1 billion but profits fall 52% to $180 million. Operating profit of $124.9 million was down from $339.2 million in 2016. Gross margin slid to 23.9% in 2017 from 29.2% in 2016, due mainly to rising depreciation costs and lower capacity utilization ...

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