Semiconductor Manufacturing International will need up to another year to achieve sustainable profits, China's largest contract chipmaker by capacity said yesterday.
The company, which once saw itself as a beacon for China's ambitions to build a semiconductor industry, yesterday recorded a quarterly profit for the first time in three years.
However, the remarks by David Wang, chief executive, are likely to add to investor doubts about the chances of a turnround for the company, which has struggled over the decade since its establishment.
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