Semiconductor Manufacturing International Corporation reaffirmed earnings guidance for the fourth quarter ended December 31, 2016. For the fourth quarter, the company narrows its revenue growth from 5% to 7% quarter over quarter to 5% to 6% quarter over quarter and gross margin range from 28% to 30% to 29% to 30%.

For the first quarter of 2017, the company revenue is expected to grow on a year over year basis and decline mildly quarter over quarter.

The company target an annual revenue growth of around 20% in 2017.