AsianFin -- Semiconductor Manufacturing International Corp (SMIC), China’s largest contract chipmaker, reported a 19.5% year-on-year decline in second-quarter profit on Thursday.

Net profit attributable to shareholders came in at $132.5 million for the June quarter, falling short of the $183.35 million forecast by analysts, according to LSEG data.

Revenue rose 16.2% to $2.2 billion, matching market expectations.