China's leading chipmaker SMIC announced on Thursday a sharp rise in profits over the same period last year.

SMIC said in a statement to the Hong Kong Stock Exchange on Thursday that its third-quarter profit attributable to owners of the company stood at US$148.8 million, a jump of 58.3 percent compared to the equivalent period last year.

The company said its revenue rose to nearly US$2.2 billion, a record high and the first time it had raked in over US$2 billion in a single quarter.

The results marked a return to form for the chipmaker after chalking up a nearly 60 percent year-on-year decline in profit in the second quarter.

The firm said it expected revenue growth to be roughly flat in the fourth quarter, adding that it would "strengthen our confidence in development, maintain our strategic focus, stabilise our market share and consolidate our position in the industry". (AFP)