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Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take

no responsibility for the contents of this announcement, make no representation as to its accuracy or

completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. SEMICONDUCTOR MANUFACTURING INTERNATIONAL CORPORATION (Stock Code: 981) Executive Director, Chief Financial Officer and Company Secretary As at the date of this announcement, the directors of the Company are:

Executive Directors

(Chairman) (Vice Chairman) (Co-Chief Executive Officer) (Co-Chief Executive Officer) (Chief Financial Officer and Company Secretary)

Non-executive Directors

Independent Non-executive Directors

For identification purposes only

GLOBAL NETWORK

SMIC FAB

SMIC MARKETING OFFICE

SMIC REPRESENTATIVE OFFICE

SMIC BUMPING FABSHANGHAI

(Headquarters)

HONG KONG,CHINA

SHENZHEN

GUANGDONGHSINCHU,

TAIWAN,CHINATIANJIN

BEIJING

JIANGYIN,

JINAGSUTOKYO,

JAPAN SAN

JOSE, CA

USAMILAN,

ITALY

THE LARGEST

ADVANCED FOUNDRY

IN MAINLAND CHINA

EMPOWERED TECHNOLOGY

ENRICHED

SERVICES

ENHANCED

COMPETITIVENESS

Section 1 Letter to Shareholders

Section 2 Definitions

Section 3 Corporate Profile and Principal Financial Indicators

Section 4 Business Profile

Section 5 Management Discussion and Analysis

Section 6 Report of the Directors

Section 7 Significant Events

Section 8 Changes in Shares and Information of Shareholders Section 9 Directors, Senior Management and Employees Section 10 Corporate Governance and Corporate Governance Report

Section 11 Social Responsibility

Section 12 Financial Report

7 11 12 18 24
38
41
79
86
103
116
123

Annual Report

Annual ReportSMIC

I. The Board of Directors and the Directors and senior management of the Company warrant that the content of

this annual report is true, accurate and complete and does not contain any false representations, misleading

statements or material omissions, and severally and jointly accept legal responsibility thereof. II.

Material risk alert

The Company has described in details the various risks it may face during its production and operation and the

countermeasures in this report. For further information, please refer to "II. Risk Factors" in "Section 5 Management

Discussion and Analysis" of this report.

III. All Directors of the Company attended the Board meeting. IV. PricewaterhouseCoopers has issued a standard unqualified auditors' report for the Company. V.

Zhou Zixue, the person-in-charge of the Company, Gao Yonggang, the person-in-charge of accounting affairs,

and Liu Chenjian, the head of the accounting department (person-in-charge of accounting), warrant the

truthfulness, accuracy and completeness of the financial report contained in this annual report. VI.

Plan for profit distribution or plan to convert capital reserves into share capital as approved by the Board in

the reporting period

The Company will not make profit distribution for 2020. The proposal still needs to be submitted to the 2021 annual

general meeting for approval. VII. Any significant events such as special arrangements for corporate governance Special arrangements for corporate governance: The Company is a red-chip enterprise VIII.

Risks associated with forward-looking statements

This report contains, in addition to historical information, forward-looking statements. These forward-looking statements

are based on SMIC's current assumptions, expectations, beliefs, plans, objectives, and projections about future events or

performance. SMIC uses words like "believe", "anticipate", "intend", "estimate", "expect", "project", "target", "going

forward", "continue", "ought to", "may", "seek", "should", "plan", "could", "vision", "goals", "aim", "aspire",

"objective", "schedules", "outlook" and similar expressions to identify forward-looking statements, although not all

forward-looking statements contain these words. These forward-looking statements are necessary estimates reflecting

judgment of SMIC's senior management and involve significant risks, both known and unknown, uncertainties and other

factors that may cause SMIC's actual performance, financial condition or results of operations to be materially different

from those suggested by the forward-looking statements including, among others, risks associated with cyclicality and

market conditions in the semiconductor industry, intense competition in the semiconductor industry, SMIC's reliance on

a small number of customers, timely wafer acceptance by SMIC's customers, timely introduction of new technologies,

SMIC's ability to ramp new products into volume, supply and demand for semiconductor foundry services, industry

overcapacity, shortages in equipment, components, raw materials and software, availability of manufacturing capacity,

financial stability in end markets, orders or judgments from pending litigation, intensive intellectual property litigation

in the semiconductor industry, general economic conditions and fluctuations in currency exchange rates.

IX.

Any appropriation of fund by the controlling shareholder and its related parties for non-operating purpose

No X. Any provision of external guarantee in violation of the stipulated decision-making procedure No XI.

More than half of the Directors cannot warrant the truthfulness, accuracy and completeness of the annual

report disclosed by the Company No

LETTER TO

SHAREHOLDERS

Annual ReportSMIC

In 2020, as the novel coronavirus pandemic spread globally, the "stay-at-home economy" strengthened demand for the

Internet of Everything and brought rare market opportunities to the semiconductor industry. The year of 2020 is SMIC's

20th year anniversary and marks the Company's first year of being successfully listed on the STAR Market of the Shanghai

Stock Exchange. After 20 years of independent technology development, market expansion, capacity construction and talent

training, the Company has steadily driven the continuous development cycle of its old and new fabs, and is gradually expanding

production capacity, improving operational efficiency, optimizing product portfolio, developing FinFET technology, and striving

to enhance the competitiveness of the Company. The Company has accumulated a lot and should have restarted its rapid

growth. However, in the second half of the year, the Company was impacted by U.S. Entity List and other restrictions, and

was forced to adjust its customer structure and production capacity composition, which caused additional costs.

Nevertheless, the Company has always been customer-oriented and strives to improve product quality and customer service.

With unremitting efforts, in terms of Non FinFET process, SMIC worked on product platforms such as power management,

ultra-low power, radio frequency, image sensors, fingerprint recognition, and specialty memory, especially on 0.15/0.18 micron,

55/65 nanometer, 40/45 nanometer, etcetera; these process nodes have all achieved industry leading standards; as for FinFET

technology, the Company reached the target of 15,000 wafers installed FinFET capacity as planned. The first generation FinFET

mass production has steadily progressed, and the second generation has entered into risk production. In 2020, a number

of financial indicators for the Company set new records: annual revenue totaled US$3.907 billion, a year-on-year growth of

25.4%; gross profit was US$921 million, a year-on-year growth of 43.3%; net profit attributable to the Company was US$716

million, a year-on-year growth of 204.9%; earnings before interest, tax, depreciation and amortization was US$2.123 billion,

a year-on-year growth of 54.6%. These results could not have been achieved without the tireless efforts of the staff, and the

trust and understanding of customers, suppliers, shareholders, investors, and the public.

Looking forward to 2021, opportunities and challenges coexist. On the one hand, the rise of new formats, new models and new

applications, such as AI and Internet of things, drives demand for chips. At present, worldwide foundry capacity remains tight,

customer demand is growing, but capacity expansion cannot keep up. On the other hand, the Company still faces the impact of

uncertainties from the U.S. "Entity List", the delivery time of equipment procurement will be longer than in the past, and the

progress of capacity building may not be as expected. Although we cannot completely control the irresistible external factors,

we can cultivate new opportunities amidst crisis, open new frontiers in the changing landscape, and explore a more suitable

path for SMIC's sustainable development. The key focus in 2021, while continue to persist to be in compliant with the relevant

laws and regulations of all jurisdictions, is as follows: first, to continue to work closely and actively communicate with supp

liers,

customers and relevant government departments, to promote the application of export licenses, and do our best to ensure

the continuity of operation. Second, to strive to expand production capacity as soon as possible to meet customer demand.

The Company always adheres to the concept of "caring for people, caring for the environment and caring for society", on the

basis of employees, and employees perceiving the Company as home. During this period of pandemic, the Company launched

a series of measures to protect the health and safety of employees, while employees also diligently kept their posts to ensure

production and operation of the Company. In February 2020, the Company, together with its directors and employees, donated

RMB10 million in cash and supplies to the frontline fighting the pandemic. In the second half of the year, the Company

continued to carry out the "SMIC Liver Transplant Program for Children" charity project. Over the past eight years, the "SMIC

Liver Transplant Program for Children" has collected a total of RMB28.93 million to help more than 500 unfortunate children.

The Company will continue to fulfill its corporate social responsibility and promote the development of corporate culture.

Finally, we would like to express our heartfelt gratitude to our employees for their efforts and dedication, as well as our

customers, suppliers, shareholders, investors and the public for their concern and support!

Zhou Zixue

Shanghai, PRC

March 31, 2021

SMIC2020

STRIVING

FOR RETURNS

ON BEHALF OF SHAREHOLDERS

SMIC2020

18% 17% 20% 64%
45%
23%
13% 60%
26%
14% 44%
17% 20% 19% 4%

33%16%

9% 30%
3% 5%

0 500 1,000 1,500 2,000 2,500 3,000 3,500 4,000

39%
17% 4% 2%7% 4% 27%
Re venue (US$ million) BEING

TRUSTWORTHY

ANDRELIABLE

FOR OUR CUSTOMERS

Annual ReportSMIC

I. DEFINITIONS

In this report, the following expressions shall have meanings as follows:

Definitions of common terms

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