By Kate Yuan

(JW Insights) Feb 14 -- China’s leading foundry Hua Hong Semiconductor (华虹半导体) achieved $2.476 billion in 2022 revenue, surging 51.8% over the previous year, the company announced at the Hong Kong Stock Exchange on February 14.

The Shanghai-based foundry said although the pandemic and geopolitical tensions have brought unprecedented challenges to the semiconductor industry, it maintained steady growth in Q4 of 2022 with revenue reaching $630 million, up 19.3% year on year.

The company also expects $630 million revenue in Q1 of 2023 with an estimated gross profit margin reaching about 32% to 34%.

Founded in 1996, Hua Hong Semiconductor went public on Hong Kong Stock Exchange in 2014. It has three 8-inch wafer fabs and three 12-inch wafer fabs in Shanghai and Wuxi.

It will continue to optimize the 8-inch platform, upgrade the 12-inch platform and expand capacity, said Hua Hong. The first phase of its 12-inch production expansion was fully completed with a monthly capacity of 65,000 pieces in 2022. The second phase has installed all the needed equipment, which will lift the monthly production capacity to 95,000 pieces in 2023.