Gross profit for the third quarter of 2017 was $ 177.3 million, compared to $ 194.1 million in the second quarter of 2017 and $ 232.1 million in the third quarter of 2016. Gross profit margin for the third quarter of 2017 was 23.0% The quarter was 25.8% and the third quarter of 2016 was 30.0%.
According to Dr. Zhao Haijun and Dr. Liang Mengsong, co-CEO of SMIC commented, our third-quarter results matched the guidance with a 2.5% increase in revenue over the previous quarter, mainly due to the overall recovery of smartphone-related shipments. Process point of view, 28-nanometer wafer revenue growth of 38.9%, 0.18-micron wafer revenue growth of 33.8%.
In addition, SMIC expects revenue growth of 1% to 3% and gross profit margin of 18% to 20% for the fourth quarter of 2017. Non-GAAP operating expenses are net of employee bonus accruals and government support Will be between $ 204.4 million and $ 210 million after the sale of the assets of the Living Park and non-controlling interests will be between $ 48 million and $ 50 million (between non-controlling interests Bear the loss).
Over the past three years, SMIC has made tremendous progress with its high capacity utilization rate in a number of indicators such as sales volume and net profit, but there are also worries and risks behind the bright performance, which is clearly visible from the third quarter earnings , SMIC earnings report is not as good as ever, the growth rate slowed down in the advanced technology is even more urgent breakthrough.
SMIC's co-CEO also said that we are in a transitional period and are preparing technologies and factories for the next phase of growth. In the short term, the growth drivers are still including 28nm, flash memory, fingerprint sensor and power management chip In the long term, we need to accelerate execution and focus our resources on key technology platforms to become a foundry partner of choice, recognizing the importance of focusing on strategic projects for the company's long-term growth, profitability and business growth. Through a solid team, a clear sense of direction and a favorable position in China, SMIC will move forward and will benefit from the wave of development in the integrated circuit industry. We will work hard for all the company's interests Continue to create greater value.
Therefore, for the arrival of the co-CEO Liang Mingsong, SMIC and even the Chinese semiconductor industry have placed high hopes for the present, SMIC R & D in the still maintain the proportion of 10% of each year with the revenue growth, which An absolute value of investment will increase, but far less than world-class enterprises R & D investment in the future SMIC will continue to increase investment in the technical strength under the blessing of the more capable to catch up with advanced industries. 'Double CEO' work together to bring new technology into the process of research and development drive, coupled with hundreds of hardships in order to achieve catch-up first-class goal.