Semiconductor Manufacturing International Corporation (SMIC), a leading Chinese semiconductor manufacturer, released its 2021 Q4 financial report yesterday. According to the report, the company made $1.6 billion in revenue in the last quarter of 2021, an increase of 12% on the previous quarter. SMIC also reported that its revenue hit $5.4 billion overall in 2021, an increase of 39% year on year. Such progress made SMIC the fastest growing of the top four wafer foundries in the past year. The report also notes the challenges but highlights the opportunities that the company faces amid the global semiconductor shortage. [SMIC press release]