UMC Reports First Quarter 2025 Results

Business Wire

23-04-2025

TAIPEI, Taiwan--(BUSINESS WIRE)-- United Microelectronics Corporation (NYSE: UMC; TWSE: 2303) ('UMC' or 'The Company'), a leading global semiconductor foundry, today announced its consolidated operating results for the first quarter of 2025.
First quarter consolidated revenue was NT$57.86 billion, decreasing 4.2% from NT$60.39 billion in 4Q24. Compared to a year ago, 1Q25 revenue increased 5.9%. Consolidated gross margin for 1Q25 was 26.7%. Net income attributable to the shareholders of the parent was NT$7.78 billion, with earnings per ordinary share of NT$0.62.
Jason Wang, co-president of UMC, said, 'Our results in the first quarter were in line with previous guidance, with flattish wafer shipments and the one-time pricing adjustment at the beginning of the year to reflect market conditions. First-quarter highlights include 22/28nm revenue hitting a record high, representing 37% of total sales. That was driven by a 46% quarter-over-quarter increase in 22nm revenue from products such as OLED display driver ICs, image signal processors as well as digital TV, WiFi and audio codec chips. We expect customers to tape-out additional 22nm products in the coming quarters as customers increasingly migrate to our 22nm logic and specialty platforms for next-generation applications. Earlier this month, we also officially inaugurated our new Singapore Phase 3 fab, which will provide additional 22nm capacity to support future growth. Pilot runs are underway and is on schedule to ramp up to volume production early 2026. The expansion in Singapore also further broadens our geographic diversification, enabling customers to strengthen their supply chain resilience. In February, our Board of Directors proposed a cash dividend of NT$2.85 per share, which is subject to approval from shareholders in the upcoming annual general meeting.'
Co-president Wang added, 'Looking ahead to the second quarter, we are expecting a moderate rebound in demand across all segments according to near-term alignment with customers. Beyond that, we are cautious about wafer demand projections as policies and markets are still adjusting to the recent tariff announcements. To navigate this challenging environment, we are working closely with customers to monitor trends in end market demand. We are also strengthening our competitive advantages by focusing on execution of key technology projects, such as the 12nm collaboration with U.S. partner, and ensuring our customers have access to geographically diverse manufacturing options. In addition, we are implementing cost reduction plans and accelerating AI and intelligent manufacturing systems to enhance operational efficiency. Through these key focuses, we are confident that UMC can maintain our financial and business resilience.'
Co-president Wang said, 'In the first quarter, UMC was honored to receive high ratings in two key sustainability benchmarks. In the Sustainability Yearbook 2025 published by S&P Global, UMC is the only semiconductor company globally to earn the 'Top 1%' ranking based on the company's Corporate Sustainability Assessment (CSA) score. UMC also stood out in the CDP's annual assessment as the sole semiconductor company to be awarded the highest 'A' rating in both Climate Change and Water Security categories.'
Summary of Operating Results
First quarter operating revenues declined 4.2% sequentially to NT$57.86 billion. Revenue contribution from 40nm and below technologies represented 53% of wafer revenue. Gross profit decreased 15.8% QoQ to NT$15.45 billion, or 26.7% of revenue. Operating expenses decreased 9.3% to NT$6.12 billion. Net other operating income increased 27.6% to NT$0.46 billion. Net non-operating expenses totaled NT$0.44 billion. Net income attributable to shareholders of the parent amounted to NT$7.78 billion.
Earnings per ordinary share for the quarter was NT$0.62. Earnings per ADS was US$0.093. The basic weighted average number of shares outstanding in 1Q25 was 12,484,780,989, compared with 12,481,192,676 shares in 4Q24 and 12,414,087,724 shares in 1Q24. The diluted weighted average number of shares outstanding was 12,579,207,466 in 1Q25, compared with 12,610,756,874 shares in 4Q24 and 12,577,525,057 shares in 1Q24. The fully diluted shares counted on March 31, 2025 were approximately 12,579,207,000.
Detailed Financials Section
Operating revenues decreased to NT$57.86 billion. COGS grew 0.9% to NT$42.41 billion, which included a 4.1% sequential increase in depreciation. Gross profit decreased 15.8% QoQ to NT$15.45 billion. Operating expenses decreased to NT$6.12 billion, as G&A declined 13.9% QoQ to NT$1.54 billion, R&D declined 8.5% to NT$3.96 billion, and Sales & Marketing also declined 0.7% to NT$0.62 billion. Net other operating income was NT$0.46 billion. In 1Q25, operating income declined 18.2% QoQ to NT$9.79 billion.
Net non-operating expenses in 1Q25 was NT$0.44 billion, primarily reflecting the NT$0.77 billion in net investment loss, offset by the NT$0.22 billion in net interest income, and the NT$0.12 billion in exchange gain.
Non-Operating Income and Expenses
(Amount: NT$ million)
1Q25
4Q24
1Q24
Non-Operating Income and Expenses
(439
)
(1,443
)
1,056
Net Interest Income and Expenses
219
290
676
Net Investment Gain and Loss
(769
)
(2,614
)
(324
)
Exchange Gain and Loss
115
877
697
Other Gain and Loss
(5
)
4
7
Note：Sums may not equal totals due to rounding.
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In 1Q25, cash inflow from operating activities was NT$23.83 billion. Cash outflow from investing activities totaled NT$10.51 billion, which included NT$14.57 billion in capital expenditure, resulting in free cash flow of NT$9.26 billion. Cash outflow from financing was NT$13.78 billion, primarily from NT$13.02 billion in bank loans. Net cash flow in 1Q25 amounted to NT$1.35 billion. Over the next 12 months, the company expects to repay NT$5.62 billion in bank loans.
Cash Flow Summary
(Amount: NT$ million)
For the 3-Month Period Ended
Mar. 31, 2025
For the 3-Month Period Ended
Dec. 31, 2024
Cash Flow from Operating Activities
23,826
32,977
Net income before tax
9,347
10,514
Depreciation & Amortization
14,128
13,463
Share of loss of associates and
joint ventures
208
1,800
Income tax paid
(585
)
(137
)
Changes in working capital & others
728
7,337
Cash Flow from Investing Activities
(10,506
)
(16,968
)
Acquisition of PP&E
(14,153
)
(18,275
)
Acquisition of intangible assets
(329
)
(877
)
Others
3,976
2,184
Cash Flow from Financing Activities
(13,776
)
(14,305
)
Bank loans
(13,018
)
(10,495
)
Redemption of bonds
-
(3,400
)
Others
(758
)
(410
)
Effect of Exchange Rate
1,810
(111
)
Net Cash Flow
1,354
1,593
Beginning balance
105,000
103,407
Ending balance
106,354
105,000
Note：Sums may not equal totals due to rounding.
Expand
Cash and cash equivalents increased to NT$106.35 billion. Days of inventory decreased 3 days to 77 days.
Current Assets
(Amount: NT$ billion)
1Q25
4Q24
1Q24
Cash and Cash Equivalents
106.35
105.00
119.43
Accounts Receivable
34.80
33.34
30.68
Days Sales Outstanding
54
51
50
Inventories, net
35.43
35.78
34.59
Days of Inventory
77
80
85
Total Current Assets
192.32
189.68
205.16
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Current liabilities decreased to NT$72.87 billion. Long-term credit/bonds decreased to NT$44.63 billion. Total liabilities decreased to NT$182.13 billion, leading to a debt to equity ratio of 47%.
Liabilities
(Amount: NT$ billion)
1Q25
4Q24
1Q24
Total Current Liabilities
72.87
75.26
88.40
Accounts Payable
9.27
7.63
7.46
Short-Term Credit / Bonds
17.63
19.51
25.60
Payables on Equipment
8.46
10.52
13.97
Other
37.51
37.60
41.37
Long-Term Credit / Bonds
44.63
55.53
43.45
Total Liabilities
182.13
192.02
188.85
Debt to Equity
47
%
51
%
50
%
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Analysis of Revenue 2
Revenue from Asia Pacific increased to 66%, while business from North America was 22% of sales. Business from Europe decreased to 7%, while contribution from Japan was 5%.
Revenue contribution from 22/28nm increased to 37% of wafer revenue, while 40nm contribution remained at 16% of sales.
Revenue Breakdown by Geometry
Geometry
1Q25
4Q24
3Q24
2Q24
1Q24
14nm and below
0
%
0
%
0
%
0
%
0
%
14nm<x<=28nm
37
%
34
%
35
%
33
%
33
%
28nm<x<=40nm
16
%
16
%
13
%
12
%
14
%
40nm<x<=65nm
16
%
16
%
15
%
15
%
18
%
65nm<x<=90nm
8
%
11
%
10
%
12
%
10
%
90nm<x<=0.13um
7
%
10
%
10
%
11
%
9
%
0.13um<x<=0.18um
10
%
9
%
11
%
10
%
11
%
0.18um<x<=0.35um
5
%
4
%
5
%
5
%
4
%
0.5um and above
1
%
0
%
1
%
2
%
1
%
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Revenue from fabless customers accounted for 82% of revenue.
Revenue Breakdown by Customer Type
Customer Type
1Q25
4Q24
3Q24
2Q24
1Q24
Fabless
82
%
84
%
85
%
87
%
82
%
IDM
18
%
16
%
15
%
13
%
18
%
Expand
Revenue from the communication segment accounted for 40%, while business from computer applications was 11% of sales. Business from consumer applications increased to 34%, while other segments was 15% of revenue.
(1) Computer consists of ICs such as CPU, GPU, HDD controllers, DVD/CD-RW control ICs, PC chipset, audio codec, keyboard controller, monitor scaler, USB, I/O chipset, WLAN. Communication consists of handset components, broadband, bluetooth, Ethernet, LAN, DSP, etc. Consumer consists of ICs used for DVD players, DTV, STB, MP3/MP4, flash controller, game consoles, DSC, smart cards, toys, etc.
Blended ASP Trend
Blended average selling price (ASP) declined in 1Q25.
(To view blended ASP trend, please click here for 1Q25 ASP)
Shipment and Utilization Rate 3
Wafer shipments remained flat, accounting for 910K in the first quarter, while quarterly capacity was 1,264K. Overall utilization rate in 1Q25 slightly declined to 69%.
Capacity 4
Total capacity in the first quarter decreased to 1,264K 12-inch equivalent wafers. Capacity will grow in the second quarter of 2025 to 1,290K 12-inch equivalent wafers.
(1) One 6-inch wafer is converted into 0.25 (6 2 /12 2) 12-inch equivalent wafer; one 8-inch wafer is converted into 0.44 (8 2 /12 2) 12-inch equivalent wafers. Total capacity figures are expressed in 12-inch equivalent wafers.
CAPEX
CAPEX spending in 1Q25 totaled US$443 million. 2025 cash-based CAPEX budget will be US$1.8 billion.
Second Quarter 2025 Outlook & Guidance
Quarter-over-Quarter Guidance:
Wafer Shipments: Will increase by 5-7%
ASP in USD: Will remain flat
Gross Profit Margin: Will be approximately 30%
Capacity Utilization: mid-70% range
2025 CAPEX: US$1.8 billion
Recent Developments / Announcements
Jan. 14, 2025
UMC's Flagship Fab Designated One of 189 Smart Manufacturing Lighthouses by the World Economic Forum
Apr. 01, 2025
Expand
Please visit UMC's website for further details regarding the above announcements
Conference Call / Webcast Announcement
Wednesday, April 23, 2025
Time: 5:00 PM (Taipei) / 5:00 AM (New York) / 10:00 AM (London)
A live webcast and replay of the 1Q25 results announcement will be available at www.umc.com under the 'Investors / Events' section.
About UMC
UMC (NYSE: UMC, TWSE: 2303) is a leading global semiconductor foundry company. The company provides high-quality IC fabrication services, focusing on logic and various specialty technologies to serve all major sectors of the electronics industry. UMC's comprehensive IC processing technologies and manufacturing solutions include Logic/Mixed-Signal, embedded High-Voltage, embedded Non-Volatile-Memory, RFSOI, BCD etc. Most of UMC's 12-in and 8-in fabs with its core R&D are in Taiwan, with additional ones throughout Asia. UMC has a total of 12 fabs in production with a combined capacity of more than 400,000 wafers per month (12-in equivalent), and all of them are certified with IATF 16949 automotive quality standards. UMC is headquartered in Hsinchu, Taiwan, plus local offices in the United States, Europe, China, Japan, Korea, and Singapore, with a worldwide total of 20,000 employees. For more information, please visit: http://www.umc.com.
Safe Harbor Statements
This press release contains forward-looking statements within the meaning of Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended, and as defined in the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements regarding anticipated financial results for the first quarter of 2025; the expected wafer shipment and ASP; the anticipated annual budget; capex strategies; environmental protection goals and water management strategies; impact of foreign currency exchange rates; expected foundry capacities; the ability to obtain new business opportunities; and information under the heading 'Second Quarter 2025 Outlook and Guidance.'
These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual performance, financial condition or results of operations of UMC to be materially different from what is stated or may be implied in such forward-looking statements. Investors are cautioned that actual events and results could differ materially from those statements as a result of a number of factors including, but not limited to: (i) dependence upon the frequent introduction of new services and technologies based on the latest developments in the industry in which UMC operates; (ii) the intensely competitive semiconductor, communications, consumer electronics and computer industries and markets; (iii) the risks associated with international business activities; (iv) dependence upon key personnel; (v) general economic and political conditions; (vi) possible disruptions in commercial activities caused by natural and human-induced events and disasters, including natural disasters, terrorist activity, armed conflict and highly contagious diseases; (vii) reduced end-user purchases relative to expectations and orders; and (viii) fluctuations in foreign currency exchange rates. Further information regarding these and other risk factors is included in UMC's filings with the United States Securities and Exchange Commission, including its Annual Report on Form 20-F. All information provided in this release is as of the date of this release and are based on assumptions that UMC believes to be reasonable as of this date, and UMC does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.
The financial statements included in this release are prepared and published in accordance with Taiwan International Financial Reporting Standards, or TIFRSs, recognized by the Financial Supervisory Commission in the ROC, which is different from International Financial Reporting Standards, or IFRSs, issued by the International Accounting Standards Board. Investors are cautioned that there may be significant differences between TIFRSs and IFRSs. In addition, TIFRSs and IFRSs differ in certain significant respects from generally accepted accounting principles in the ROC and generally accepted accounting principles in the United States.
- FINANCIAL TABLES TO FOLLOW -
As of March 31, 2025
US$ NT$ %
Assets
Current assets
Cash and cash equivalents
3,205
106,354
18.6
%
Accounts receivable, net
1,049
34,801
6.1
%
Inventories, net
1,068
35,425
6.2
%
Other current assets
475
15,744
2.8
%
Total current assets
5,796
192,323
33.6
%
Non-current assets
Funds and investments
2,152
71,407
12.5
%
Property, plant and equipment
8,501
282,051
49.2
%
Right-of-use assets
240
7,948
1.4
%
Other non-current assets
580
19,233
3.4
%
Total non-current assets
11,472
380,639
66.4
%
Total assets
17,268
572,962
100.0
%
Liabilities
Current liabilities
Short-term loans
196
6,500
1.1
%
Payables
1,327
44,018
7.7
%
Current portion of long-term liabilities
336
11,132
1.9
%
Other current liabilities
338
11,224
2.0
%
Total current liabilities
2,196
72,873
12.7
%
Non-current liabilities
Bonds payable
741
24,586
4.3
%
Long-term loans
604
20,041
3.5
%
Lease liabilities, noncurrent
172
5,700
1.0
%
Other non-current liabilities
1,776
58,933
10.3
%
Total non-current liabilities
3,293
109,260
19.1
%
Total liabilities
5,489
182,134
31.8
%
Equity
Equity attributable to the parent company
Capital
3,785
125,584
21.9
%
Additional paid-in capital
452
14,995
2.6
%
Retained earnings and other components of equity
7,535
250,026
43.6
%
Total equity attributable to the parent company
11,772
390,605
68.2
%
Non-controlling interests
7
224
0.0
%
Total equity
11,779
390,829
68.2
%
Total liabilities and equity
17,268
572,962
100.0
%
Notes:
(1) New Taiwan Dollars have been translated into U.S. Dollars at the March 31, 2025 exchange rate of NT $33.18 per U.S. Dollar.
(2) Sums may not equal totals due to rounding.
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UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES
Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$)
Except Per Share and Per ADS Data
Year over Year Comparison
Quarter over Quarter Comparison
Three-Month Period Ended
Three-Month Period Ended
March 31, 2025
March 31, 2024
Chg.
March 31, 2025
December 31, 2024
Chg.
US$ NT$ NT$ % US$ NT$ NT$ %
Operating revenues
1,744
57,859
54,632
5.9
%
1,744
57,859
60,386
(4.2
%)
Operating costs
(1,278
)
(42,412
)
(37,733
)
12.4
%
(1,278
)
(42,412
)
(42,043
)
0.9
%
Gross profit
466
15,447
16,899
(8.6
%)
466
15,447
18,343
(15.8
%)
26.7
%
26.7
%
30.9
%
26.7
%
26.7
%
30.4
%
Operating expenses
- Sales and marketing expenses
(19
)
(619
)
(684
)
(9.5
%)
(19
)
(619
)
(623
)
(0.7
%)
- General and administrative expenses
(46
)
(1,542
)
(1,702
)
(9.4
%)
(46
)
(1,542
)
(1,791
)
(13.9
%)
- Research and development expenses
(119
)
(3,964
)
(3,407
)
16.3
%
(119
)
(3,964
)
(4,334
)
(8.5
%)
- Expected credit impairment gain
0
2
46
(94.7
%)
0
2
0
523.3
%
Subtotal
(185
)
(6,123
)
(5,747
)
6.5
%
(185
)
(6,123
)
(6,748
)
(9.3
%)
Net other operating income and expenses
14
462
513
(9.9
%)
14
462
362
27.6
%
Operating income
295
9,786
11,665
(16.1
%)
295
9,786
11,957
(18.2
%)
16.9
%
16.9
%
21.4
%
16.9
%
16.9
%
19.8
%
Net non-operating income and expenses
(13
)
(439
)
1,056
-
(13
)
(439
)
(1,443
)
(69.5
%)
Income from continuing operations
before income tax
282
9,347
12,721
(26.5
%)
282
9,347
10,514
(11.1
%)
16.2
%
16.2
%
23.3
%
16.2
%
16.2
%
17.4
%
Income tax expense
(48
)
(1,603
)
(2,291
)
(30.0
%)
(48
)
(1,603
)
(2,054
)
(22.0
%)
Net income
233
7,743
10,430
(25.8
%)
233
7,743
8,460
(8.5
%)
13.4
%
13.4
%
19.1
%
13.4
%
13.4
%
14.0
%
Other comprehensive income (loss)
135
4,489
7,954
(43.6
%)
135
4,489
1,270
253.4
%
Total comprehensive income (loss)
369
12,232
18,384
(33.5
%)
369
12,232
9,730
25.7
%
Net income attributable to:
Shareholders of the parent
234
7,777
10,456
(25.6
%)
234
7,777
8,497
(8.5
%)
Non-controlling interests
(1
)
(34
)
(26
)
26.2
%
(1
)
(34
)
(37
)
(9.2
%)
Comprehensive income (loss) attributable to:
Shareholders of the parent
370
12,266
18,410
(33.4
%)
370
12,266
9,767
25.6
%
Non-controlling interests
(1
)
(33
)
(26
)
26.3
%
(1
)
(33
)
(37
)
(9.3
%)
Earnings per share-basic
0.019
0.62
0.84
0.019
0.62
0.68
Earnings per ADS (2)
0.093
3.10
4.20
0.093
3.10
3.40
Weighted average number of shares
outstanding (in millions)
12,485
12,414
12,485
12,481
Notes:
(1) New Taiwan Dollars have been translated into U.S. Dollars at the March 31, 2025 exchange rate of NT $33.18 per U.S. Dollar.
(2) 1 ADS equals 5 common shares.
(3) Sums may not equal totals due to rounding.
Expand
For the Three-Month Period Ended
For the Three-Month Period Ended
March 31, 2025
March 31, 2025
US$
NT$
%
US$
NT$
%
Operating revenues
1,744
57,859
100.0
%
1,744
57,859
100.0
%
Operating costs
(1,278
)
(42,412
)
(73.3
%)
(1,278
)
(42,412
)
(73.3
%)
Gross profit
466
15,447
26.7
%
466
15,447
26.7
%
Operating expenses
- Sales and marketing expenses
(19
)
(619
)
(1.1
%)
(19
)
(619
)
(1.1
%)
- General and administrative expenses
(46
)
(1,542
)
(2.7
%)
(46
)
(1,542
)
(2.7
%)
- Research and development expenses
(119
)
(3,964
)
(6.9
%)
(119
)
(3,964
)
(6.9
%)
- Expected credit impairment gain
0
2
0.0
%
0
2
0.0
%
Subtotal
(185
)
(6,123
)
(10.6
%)
(185
)
(6,123
)
(10.6
%)
Net other operating income and expenses
14
462
0.8
%
14
462
0.8
%
Operating income
295
9,786
16.9
%
295
9,786
16.9
%
Net non-operating income and expenses
(13
)
(439
)
(0.8
%)
(13
)
(439
)
(0.8
%)
Income from continuing operations before income tax
282
9,347
16.2
%
282
9,347
16.2
%
Income tax expense
(48
)
(1,603
)
(2.8
%)
(48
)
(1,603
)
(2.8
%)
Net income
233
7,743
13.4
%
233
7,743
13.4
%
Other comprehensive income (loss)
135
4,489
7.8
%
135
4,489
7.8
%
Total comprehensive income (loss)
369
12,232
21.1
%
369
12,232
21.1
%
Net income attributable to:
Shareholders of the parent
234
7,777
13.4
%
234
7,777
13.4
%
Non-controlling interests
(1
)
(34
)
(0.1
%)
(1
)
(34
)
(0.1
%)
Comprehensive income (loss) attributable to:
Shareholders of the parent
370
12,266
21.2
%
370
12,266
21.2
%
Non-controlling interests
(1
)
(33
)
(0.1
%)
(1
)
(33
)
(0.1
%)
Earnings per share-basic
0.019
0.62
0.019
0.62
Earnings per ADS (2)
0.093
3.10
0.093
3.10
Weighted average number of shares outstanding (in millions)
12,485
12,485
Notes:
(1) New Taiwan Dollars have been translated into U.S. Dollars at the March 31, 2025 exchange rate of NT $33.18 per U.S. Dollar.
(2) 1 ADS equals 5 common shares.
(3) Sums may not equal totals due to rounding.
Expand
UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES
Consolidated Condensed Statement of Cash Flows
For The Three-Month Period Ended March 31, 2025
Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$)
US$
NT$
Cash flows from operating activities :
Net income before tax
282
9,347
Depreciation & Amortization
426
14,128
Share of loss of associates and joint ventures
6
208
Income tax paid
(18
)
(585
)
Changes in working capital & others
22
728
Net cash provided by operating activities
718
23,826
Cash flows from investing activities :
Acquisition of property, plant and equipment
(427
)
(14,153
)
Acquisition of intangible assets
(10
)
(329
)
Others
120
3,976
Net cash used in investing activities
(317
)
(10,506
)
Cash flows from financing activities :
Decrease in short-term loans
(61
)
(2,015
)
Proceeds from long-term loans
39
1,300
Repayments of long-term loans
(371
)
(12,303
)
Others
(23
)
(758
)
Net cash used in financing activities
(415
)
(13,776
)
Effect of exchange rate changes on cash and cash equivalents
55
1,810
Net increase in cash and cash equivalents
41
1,354
Cash and cash equivalents at beginning of period
3,165
105,000
Cash and cash equivalents at end of period
3,205
106,354
Notes:
(1) New Taiwan Dollars have been translated into U.S. Dollars at the March 31, 2025 exchange rate of NT $33.18 per U.S. Dollar.
(2) Sums may not equal totals due to rounding.
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1 Unless otherwise stated, all financial figures discussed in this announcement are prepared in accordance with TIFRSs recognized by Financial Supervisory Commission in the ROC, which is different from IFRSs issued by the International Accounting Standards Board. They represent comparisons among the three-month period ending March 31, 2025, the three-month period ending December 31, 2024, and the equivalent three-month period that ended March 31, 2024. For all 1Q25 results, New Taiwan Dollar (NT$) amounts have been converted into U.S. Dollars at the March 31, 2025 exchange rate of NT$ 33.18 per U.S. Dollar.
2 Revenue in this section represents wafer sales
3 Utilization Rate = Quarterly Wafer Out / Quarterly Capacity
4 Estimated capacity numbers are based on calculated maximum output rather than designed capacity. The actual capacity numbers may differ depending upon equipment delivery schedules, pace of migration to more advanced process technologies, and other factors affecting production ramp-up.