SMIC: China's SMIC says 2024 profit down 45.4% from last year

Beijing (AFP) Feb 11, 2025China's top chipmaker SMIC said Tuesday its 2024 profit had plunged significantly from the previous year, against a backdrop of surging trade tensions between the United States and China. Beijing has been seeking in recent years to shore up its self-reliance in the increasingly vital field of semiconductors, and Shanghai-based SMIC is the country's chipmaking champion. Washington has tak