Exhibit EX-99.1

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 document.

SEMICONDUCTOR MANUFACTURING INTERNATIONAL CORPORATION
(Incorporated in the Cayman Islands with limited liability)
(STOCK CODE: 0981)

•

Revenue up by 14.9% to $332.7 million in 1Q12 from $289.6 million in 4Q11 and down by 10.2% compared to 1Q11.

•

Gross margin was 12.0% in 1Q12 compared to -7.4% in 4Q11 primarily due to higher utilization and cost saving actions in 1Q12.

•

Net cash flow from operations decreased to $35.8 million in 1Q12 from $84.7 million in 4Q11 mainly due to VAT refund in 2011 Q4.

•

Loss attributable to Semiconductor Manufacturing International Corporation was $ 42.8 million in 1Q12, compared to loss of $165.2 million in 4Q11.

Set out below is a copy of the full text of the press release by the Company on May 10, 2012, in relation to its results for the three months ended March 31, 2012.

All currency figures stated in this report are in US Dollars unless stated otherwise.

The financial statement amounts in this report are determined in accordance with US GAAP.

Shanghai, China –May 10, 2012. Semiconductor Manufacturing International Corporation (NYSE: SMI; SEHK: 981) (“SMIC” or the “Company”), one of the leading semiconductor foundries in the world, today announced its consolidated results of operations for the three months ended March 31, 2012.

The following statements are forward looking statements which are based on current expectations and which involve risks and uncertainties, some of which are set forth under “Safe Harbor Statements” below.

•

Operating expenses excluding foreign exchange differences are expected to range from

Dr. Tzu-Yin Chiu, Chief Executive Officer, commented, “In the first quarter of 2012, our revenue grew 15% sequentially; in the second quarter of 2012, our revenue is guided to increase between 19% and 21%; and into the second half of this year, we target continued growth. This ongoing momentum is primarily due to various new product ramp-ups for connectivity chips, mobile phones and set-top boxes, and is also attributable to increased demand for some of our existing products. Apart from macro reasons, the increase in demand and utilization is also driven by performance improvements.”

“Our China revenue continues to grow along with China’s semiconductor market. In the first quarter of 2012, our China revenue grew 9.5% quarter over quarter, equivalent to about 32.5% of our total revenue in the first quarter of 2012.”

“We have successfully obtained two major loans in the first quarter of 2012. First, we obtained a $268 million loan facility in February, and second, a $600 million syndicated loan in March. These credit arrangements have helped us achieve a healthier capital structure, and show that both policy and commercial banks recognize our potential.”

“We are excited about the growth prospects of the coming quarters and are expecting continued order momentum for both new and existing products, across various applications, from our leading global and Chinese customers.”

The call will be webcast live with audio at http://www.smics.com/eng/investors/ir—presentations.php, or at http://www.media-server.com/m/p/mmjw93d2

An archived version of the webcast, along with an electronic copy of this news release will be available on the SMIC website for a period of 12 months following the webcast.

Semiconductor Manufacturing International Corporation (“SMIC”; NYSE: SMI; SEHK: 981) is one of the leading semiconductor foundries in the world and the largest and most advanced foundry in Mainland China, providing integrated circuit (IC) foundry and technology services at 0.35-micron to 40-nanometer. Headquartered in Shanghai, China, SMIC has a 300mm wafer fabrication facility (”fab”) and three 200mm wafer fabs in its Shanghai mega-fab, two 300mm wafer fabs in its Beijing mega-fab, a 200mm wafer fab in Tianjin, and a 200mm fab under construction in Shenzhen. SMIC also has customer service and marketing offices in the U.S., Europe, Japan, and Taiwan, and a representative office in Hong Kong. In addition, SMIC manages and operates a 300mm wafer fab in Wuhan owned by Wuhan Xinxin Semiconductor Manufacturing Corporation.

Safe Harbor Statements
(Under the Private Securities Litigation Reform Act of 1995)

This press release contains, in addition to historical information, “forward-looking statements” within the meaning of the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements, including statements under “Second Quarter 2012 Guidance” are based on SMIC’s current assumptions, expectations and projections about future events. SMIC uses words like “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project” and similar expressions to identify forward-looking statements, although not all forward-looking statements contain these words. These forward-looking statements are necessarily estimates reflecting the best 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, the downturn in the global economy and the impact on China’s economy, intense competition, timely wafer acceptance by SMIC’s customers, timely introduction of new technologies, SMIC’s ability to capture growth opportunities in China, supply and demand for semiconductor foundry services, industry overcapacity, shortages in equipment, components and raw materials, orders or judgments from pending litigation, availability of manufacturing capacity and financial stability in end markets.

Investors should consider the information contained in SMIC’s filings with the U.S. Securities and Exchange Commission (SEC), including its annual report on 20-F filed with the SEC on April 27, 2012, especially in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections, and such other documents that SMIC may file with the SEC or The Hong Kong Stock Exchange Limited (“SEHK”) from time to time, including on Form 6-K. Other unknown or unpredictable factors also could have material adverse effects on SMIC’s future results, performance or achievements. In light of these risks, uncertainties, assumptions and factors, the forward-looking events discussed in this press release may not occur. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date stated, or if no date is stated, as of the date of this press release. Except as required by law, SMIC undertakes no obligation and does not intend to update any forward-looking statement, whether as a result of new information, future events or otherwise.


	1Q12			4Q11			QoQ			1Q11			YoY
Sales, net		332,711			289,628			14.9	%		370,559			-10.2	%
Cost of sales		292,867			310,959			-5.8	%		301,782			-3.0	%
Gross profit (loss)		39,844			(21,331	)		—			68,777			-42.1	%
Operating expenses		90,128			85,667			5.2	%		76,623			17.6	%
Loss from operations		(50,284	)		(106,998	)		-53.0	%		(7,846	)		540.9	%
Other income (expense), net		(4,069	)		5,430			—			2,702			—
Income tax benefit (expenses)		11,418			(65,040	)		—			128			8820.3	%
Net loss after income taxes		(42,935	)		(166,608	)		-74.2	%		(5,016	)		756.0	%
Gain from equity method investments		373			1,784			-79.1	%		1,016			-63.3	%
Income from discontinued operations net of tax effect⁽¹⁾		-			—			—			14,742			—
Net income (loss)		(42,562	)		(164,824	)		-74.2	%		10,742			—
Accretion of interest to noncontrolling interest		(263	)		(381	)		-31.0	%		(508	)		-48.2	%
Income (loss) attributable to Semiconductor Manufacturing International Corporation		(42,825	)		(165,205	)		-74.1	%		10,234			—
Gross margin		12.0	%		-7.4	%		—			18.6	%		—
Operating margin		-15.1	%		-36.9	%		—			-2.1	%		—
Earnings (loss) per ordinary share (basic and diluted)⁽²⁾		(0.00	)		(0.01	)		—			0.00			—
Earnings (loss) per ADS (basic and diluted)		(0.08	)		(0.30	)		—			0.02			—
Wafers shipped (in 8” wafers)⁽³⁾		445,689			374,116			19.1	%		471,231			-5.3	%
Capacity utilization⁽⁴⁾		74.1	%		65.6	%		8.5	%		76.3	%		-2.2	%

(1)

On March 1, 2011, the Company deconsolidated Semiconductor Manufacturing International (AT) Corporation (“AT”) as its majority ownership interest was reduced to 10%. Both the results of operations of AT prior to deconsolidation and a gain on deconsolidation were reported as income (loss) from discontinued operations.

(2)

Based on weighted average ordinary shares of 27,504million (basic) and 27,504 million (diluted) in 1Q12, 27,483 million (basic) and 27,483 million (diluted) in 4Q11, and 27,371million (basic) and 27,371 million (diluted) in 1Q11.

(4)

Effective 3Q 2011, capacity utilization rate is reported based on actual equipment usage in manufacturing processes. Utilization rate for previous quarters have been updated accordingly for comparison purpose. In prior quarters utilization had been reported based on total wafers out divided by estimated capacity.

•

Revenue increased to $332.7million in 1Q12, up 14.9% QoQ from $289.6 million in 4Q11 due to a 19.1% increase in wafer shipments.

•

Cost of sales decreased to $292.9 million in 1Q12, a decrease of 5.8% QoQ from $311.0 million in 4Q11 due to cost saving actions in 1Q12 and $11.4 million legal accruals for Elpida in 4Q11.

•

Gross profit of $39.8 million in 1Q12, compared to a gross loss of $21.3 million in 4Q11 and gross profit of $68.8 million in 1Q11.

•

Gross margin was 12.0% in 1Q12, up from -7.4% in 4Q11 primarily due to higher utilization and cost saving actions in 1Q12.

•

Operating expense increased to $90.1 million in 1Q12, an increase of 5.2% QoQ from $85.7 million in 4Q11, mainly due to government grants decrease.


Sales Analysis
By Application	1Q12			4Q11			1Q11
Computer		3.2	%		3.3	%		3.3	%
Communications		48.3	%		44.1	%		44.5	%
Consumer		40.2	%		42.5	%		42.5	%
Others		8.3	%		10.1	%		9.7	%
By Service Type		1Q12			4Q11			1Q11

Wafers⁽¹⁾		94.4	%		92.2	%		91.3	%
Mask Making, testing, others		5.6	%		7.8	%		8.7	%
By Customer Type		1Q12			4Q11			1Q11

Fabless semiconductor companies		91.4	%		88.5	%		80.4	%
Integrated device manufacturers (IDM)		5.0	%		8.2	%		13.5	%
System companies and others		3.6	%		3.3	%		6.1	%
By Geography		1Q12			4Q11			1Q11

North America		55.2	%		55.9	%		51.3	%
China⁽²⁾		32.5	%		34.1	%		35.6	%
Eurasia⁽³⁾		12.3	%		10.0	%		13.1	%
Wafer Revenue Analysis		¡¡			¡¡

By Technology (logic, memory & copper interconnect only)		1Q12			4Q11			1Q11

40/45nm		0.3	%		0.3	%		0.0	%
55/65nm		22.3	%		21.0	%		13.3	%
90nm		8.6	%		9.2	%		12.3	%
0.13mm		22.7	%		22.3	%		24.1	%
0.15/0.18mm		39.4	%		37.2	%		32.9	%
0.25/0.35mm		6.7	%		10.0	%		17.4	%

Note:
(1) Including 0.13mm copper interconnects
(2) Including Hong Kong
(3) Excluding China

• Wafers per month at the end of the period in 8” equivalent wafers, calculated on a 30-days basis for comparison purposes.

•

Capacity of Shanghai Mega Fab (8”) decreases to 79,210 in 1Q12 from 90,000 in 4Q11. The decrease is mainly due to product mix change.

(1)

•

Cost of sales decreased to $292.9 million in 1Q12, a decrease of 5.8% QoQ from $311.0 million in 4Q11 primarily due to cost saving actions in 1Q12 and $11.4 million legal accruals for Elpida in 4Q11.

•

Gross profit of $39.8 million in 1Q12, compared to a gross loss of $21.3 million in 4Q11 and gross profit of $68.8 million in 1Q11 due to a 19.1% QoQ increase in wafer shipments and a 5.8% QoQ decrease in cost of sales.

•

R&D expenses increased to $59.3 million in 1Q12, up 52.4% QoQ from $38.9 million in 4Q11 mainly due to a decrease of government R&D subsidies in 1Q12 compared to the prior quarter.

•

G&A expense was $23.9 million in 1Q12. Comparing with $25.0 million in 4Q11, the fluctuation was mainly due to a decrease of personnel related expenses and legal fees.

•

Selling & marketing expenses decreased to $6.9 million in 1Q12, down 25.8% QoQ from $9.3 million in 4Q11was mainly due to a decrease in selling activities.

•

Other operating expense was $1 thousand in 1Q12. Compared to other operating expense of $12.4 million in 4Q11, the fluctuation was mainly due to impairment loss of long-lived assets in 4Q11.

•

Depreciation and amortization in 1Q12 was $142.5 million compared to $145.2 million in 4Q11.


Amounts in US$ thousands	1Q12		4Q11
Cash and cash equivalents		300,641		261,615
Restricted cash		194,352		136,907
Accounts receivable		196,749		165,234
Inventories		211,353		207,309
Others		118,023		93,722
Total current assets		1,021,118		864,787
Accounts payable		307,206		280,691
Short-term borrowings		467,069		607,427
Current portion of long-term debt		191,619		191,355
Others		171,938		171,853
Total current liabilities		1,137,832		1,251,326
Cash Ratio		0.3x		0.2x
Quick Ratio		0.7x		0.5x
Current Ratio		0.9x		0.7x


Amounts in US$ thousands	1Q12		4Q11
Cash and cash equivalents	300,641		261,615
Restricted cash	194,352		136,907
Current portion of promissory notes	29,582		29,374
Non-current portion of promissory notes	28,761		28,560
Short-term borrowings	467,069		607,427
Current portion of long-term debt	191,619		191,355
Long-term debt	427,293		72,361
Total debt	1,085,981		871,143
Equity⁽¹⁾	2,204,738		2,245,997
Total debt to equity ratio	49.3	%	38.8	%

Ÿ Announcement of 2011 Annual Results (2012-03-29)

Ÿ Discloseable Transaction — SMIC and IBM Sign Collaboration Agreement (2012-03-29)

Ÿ SMIC @ SEMICON China 2012 (2012-03-26)

Ÿ List of Directors and Their Roles and Functions (2012-03-26)

Ÿ SMIC CEO Dr. Tzu-Yin Chiu Delivers Keynote at SEMICON China 2012 (2012-03-20)

Ÿ SMIC Secures USD 600 Million Syndicated Loan (2012-03-16)

Ÿ Notification of Approval of the Publication of 2011 Annual Results by the Board (2012-03-16)

Ÿ SMIC’s Vice President of Technology Development Dr. Shiuh-Wuu Lee Speaks at IC Market China 2012 (2012-03-15)

Ÿ SMIC, Brite, and Zhejiang University Found Joint IC Research Program (2012-03-14)

Ÿ SMIC Announces Ultra High Density IP Library for 0.11um Cu-BEoL Process (2012-03-08)

Ÿ SMIC and Brite Semiconductor Tape Out Low Leakage 40nm Test Chip Based on a Dual-Core ARM Cortex-A9 Processor (2012-02-27)

Ÿ SMIC Reports Results for the Three Months Ended December 31, 2011 (2012-02-08)

Ÿ Notification of Board Meeting (2012-01-18)

Please visit SMIC’s website at http://www.smics.com/eng/press/media_press.php and
http://www.smics.com/eng/investors/ir_filings.php
for further details regarding the recent announcements.


For the three months ended
	March 31, 2012			December 31, 2011
	(Unaudited)			(Unaudited)
Sales, net		332,711			289,628
Cost of sales		292,867			310,959
Gross profit (loss)		39,844			(21,331	)

Operating expenses:
Research and development		59,311			38,921
General and administrative		23,924			25,038
Selling and marketing		6,892			9,283
Other operating expense		1			12,425
Total operating expenses, net		90,128			85,667

Loss from operations		(50,284	)		(106,998	)
Total other income (loss), net		(4,069	)		5,430
Loss before income tax and equity investment		(54,353	)		(101,568	)

Income tax benefit (expense)		11,418			(65,040	)
Gain from equity method investments		373			1,784
Net loss		(42,562	)		(164,824	)

Accretion of interest to noncontrolling interest		(263	)		(381	)
Loss attributable to Semiconductor Manufacturing International Corporation		(42,825	)		(165,205	)

Net loss		(42,562	)		(164,824	)

Other comprehensive income:
Foreign currency translation adjustment		44			4,399

Comprehensive loss		(42,518	)		(160,425	)

Comprehensive loss attributable to noncontrolling interest		(263	)		(381	)

Comprehensive loss attributable to Semiconductor Manufacturing International Corporation		(42,781	)		(160,806	)

Loss per share attributable to Semiconductor Manufacturing International Corporation ordinary shareholders, basic and diluted		(0.00	)		(0.01	)
Loss per ADS attributable to Semiconductor Manufacturing International Corporation ordinary ADS holders, basic and diluted		(0.08	)		(0.30	)
Shares used in calculating basic and diluted loss per share		27,504,337,503			27,482,924,722


As of
	March 31, 2012				December 31, 2011
	(Unaudited)				(Unaudited)
ASSETS
Current assets:
Cash and cash equivalents		300,641				261,615
Restricted cash		194,352				136,907
Accounts receivable, net of allowances of $45,500 and $42,821 at March 31, 2012 and December 31, 2011, respectively		196,749				165,234
Inventories		211,353				207,309
Prepaid expense and other current assets		118,023				93,722
Total current assets		1,021,118				864,787

Prepaid land use rights		76,846				77,231
Plant and equipment, net		2,493,732				2,516,578
Acquired intangible assets, net		242,886				179,279
Other long-term assets		103,619				90,054
TOTAL ASSETS		3,938,201				3,727,929

LIABILITIES, NONCONTROLLING INTEREST AND EQUITY
Current liabilities:
Accounts payable		307,206				280,691
Accrued expenses and other current liabilities		142,356				142,479
Short-term borrowings		467,069				607,427
Current portion of promissory notes		29,582				29,374
Current portion of long-term debt		191,619				191,355
Total current liabilities		1,137,832				1,251,326

Long-term liabilities:
Promissory notes		28,761				28,560
Long-term debt		427,293				72,361
Other long-term liabilities		136,296				126,668
Total long-term liabilities		592,350				227,589

Total liabilities		1,730,182		¡¡		1,478,915

Noncontrolling interest		4,463				4,200
Ordinary shares, $0.0004 par value, 50,000,000,000 shares authorized, 27,509,521,180 and 27,487,676,065 shares issued and outstanding at March 31, 2012 and December 31, 2011, respectively		11,004				10,995
Convertible preferred shares, $0.0004 par value, 5,000,000,000 shares authorized, 445,545,911 shares issued and outstanding at both March 31, 2012 and December 31, 2011		178				178
Additional paid-in capital		4,242,043				4,240,529
Accumulated other comprehensive loss		3,889				3,845
Accumulated deficit		(2,053,558	)			(2,010,733	)
Total equity		2,203,556				2,244,814

TOTAL LIABILITIES, NONCONTROLLING INTEREST AND EQUITY		3,938,201				3,727,929


	For the three months ended
	March 31, 2012			December 31, 2011
	(Unaudited)			(Unaudited)
Cash flow from operating activities
Net loss		(42,562	)		(164,824	)
Depreciation and amortization		142,503			145,216
Gain from equity investment		(373	)		(1,783	)
Changes in working capital and others		(63,760	)		106,050

Net cash provided by operating activities		35,808			84,659

Cash flow from Investing activities:
Acquisitions of:
Property, plant and equipment		(116,366	)		(89,120	)
Intangible assets		(29,317	)		(5,568	)
Short-term investments		(4,167	)		35,403
Changes in restricted cash relating to investing activities		(55,954	)		88,428
Others		(1	)		(3,740	)

Net cash provided by (used in) investing activities		(205,805	)		25,403

Financing activities:
Increase (Decrease) in short-term borrowings		(140,358	)		36,961
Increase (Decrease) in long-term debt		355,197			(186,880	)
Repayment of promissory notes		—			(15,000	)
Others		(5,861	)		95

Net cash provided by (used in) financing activities		208,978			(164,824	)

Effect of exchange rate changes		44			687

NET INCREASE (DECREASE) IN CASH AND CASH
EQUIVALENTS		39,025			(54,075	)
CASH AND CASH EQUIVALENTS, beginning of period		261,615			315,690
CASH AND CASH EQUIVALENTS, end of period		300,641			261,615

As at the date of this announcement, the Directors are Zhang Wenyi as Chairman of the Board of Directors and Executive Director of the Company; Tzu-Yin Chiu as Chief Executive Officer and Executive Director; Chen Shanzhi, Gao Yonggang, Lawrence Juen-Yee Lau (Datong Chen as his Alternate) and Zhou Jie as Non-Executive Directors of the Company; and Tsuyoshi Kawanishi, Frank Meng and Lip-Bu Tan as Independent Non-Executive Directors of the Company.

By order of the Board
Semiconductor Manufacturing International Corporation
Dr. Tzu-Yin Chiu
Chief Executive Officer
Executive Director


Fab / (Wafer Size)	1Q12		4Q11
Shanghai Mega Fab (8”)		79,210		90,000
Beijing Mega Fab (12”)		67,500		65,540
Tianjin Fab (8”)		37,839		37,750
Total monthly wafer fabrication capacity		184,549		193,290


Amounts in US$ thousands	1Q12			4Q11			QoQ			1Q11			YoY
Other income (expenses)		(4,069	)		5,430			-			2,702		—
Interest income		1,199			1,342			-10.7	%		1,191			0.7	%
Interest expense		(7,424	)		(5,345	)		38.9	%		(4,248	)		74.8	%
Foreign currency exchange gain		393			6,776			-94.2	%		4,007			-90.2	%
Other, net		1,763			2,657			-33.6	%		1,752			0.6	%


8” equivalent wafers	1Q12			4Q11			QoQ			1Q11			YoY
Wafer shipments including copper interconnects		445,689			374,116			19.1	%		471,231			-5.3	%
Utilization rate⁽¹⁾		74.1	%		65.6	%		8.5	%		76.3	%		-2.2	%


Capex Summary
n		Capital expenditures for 1Q12 were $183.2 million.