Financial Data and Key Metrics Changes - UMC's consolidated revenue for Q1 2025 was NT$57.86 billion, with a gross margin of approximately 26.7% [7] - Net income attributable to shareholders was NT$7.78 billion, resulting in an earnings per share (EPS) of NT$0.62 [8] - Year-over-year revenue increased by 5.9%, driven by a 12% increase in wafer shipments, although this was offset by a decline in average selling price (ASP) [11] - Operating expenses were controlled at about 10.6% of total revenue, leading to an operating income of NT$9.7 billion, or 15.9% [10] Business Line Data and Key Metrics Changes - Wafer revenue declined 4.2% sequentially to NT$57.85 billion due to a one-time price adjustment and lower ASP [9] - The consumer segment showed strong performance, primarily driven by products like Wi-Fi, DTV, and set-top boxes [14] - Revenue from 22 and 28 nanometer products accounted for 37% of total sales, with 22 nanometer revenue increasing by 46% quarter-over-quarter [17] Market Data and Key Metrics Changes - Asian-based customers contributed approximately 56% of total revenue, while North American customers represented about 22% [12] - The automotive segment experienced a decline in Q1 due to softness in microcontrollers and power management, while consumer electronics showed growth [68] Company Strategy and Development Direction - UMC is focusing on technology differentiation, global manufacturing diversification, and product mix optimization to navigate macro uncertainties [20] - The company plans to maintain a cash-based capital expenditure (CapEx) of $1.8 billion for 2025 [15] - The new Singapore Phase 3 fab is expected to ramp up to volume production in early 2026, enhancing UMC's capacity for 22 nanometer products [18] Management's Comments on Operating Environment and Future Outlook - Management expressed caution regarding wafer demand projections due to ongoing tariff adjustments and geopolitical tensions [20] - For Q2 2025, UMC expects a moderate rebound in demand across all segments, with wafer shipments projected to increase by 5% to 7% sequentially [21] - The gross margin is anticipated to recover to approximately 30% in Q2 [21] Other Important Information - UMC's cash position remained strong at NT$106 billion at the end of Q1 2025, with total equity reaching NT$390 billion [12] - A proposed cash dividend of NT$2.85 per share is subject to shareholder approval at the upcoming AGM [19] Q&A Session Summary Question: Impact of tariffs on customer order behaviors - Management noted that while tariffs have increased uncertainties, there has not been a significant change in market demand for Q2 2025 [26][28] Question: Utilization rates for 22 and 28 nanometer products - The guidance for Q2 indicates a mid-70% utilization rate for the company, with 22 and 28 nanometer products expected to be key growth drivers [36][37] Question: Update on the partnership with Intel for 12 nanometer - The joint development is on track, with pilot runs underway and expected to be ready for customer adoption by 2026 [42][44] Question: Margin expectations for Q2 and beyond - Management indicated that while Q1 margins were impacted by a one-time pricing adjustment, they expect improvements in Q2, but visibility for the second half remains limited [55][98] Question: Demand trends across key end markets - Management expects growth in consumer and computing segments for Q2, while automotive demand remains flattish [68][70] Question: Inventory levels across different applications - Current inventory levels are healthy for consumer electronics, but higher for automotive and industrial segments, which may take longer to digest [118][120]

Financial Performance - Operating Revenues for 1Q25 were NT$57,859 million, a decrease of 4.2% QoQ from NT$60,386 million in 4Q24 [7, 8] - Net Income Attributable to Shareholders of the Parent for 1Q25 was NT$7,777 million, a decrease of 8.5% QoQ from NT$8,497 million in 4Q24 [7, 8] - EPS (NTD) for 1Q25 was 0.62, compared to 0.68 in 4Q24 [7, 8] - Operating Revenues increased by 5.9% YoY from NT$54,632 million in 1Q24 to NT$57,859 million in 1Q25 [7, 10] - Net Income Attributable to Shareholders of the Parent decreased by 25.6% YoY from NT$10,456 million in 1Q24 to NT$7,777 million in 1Q25 [7, 10] - EPS (NTD) decreased from 0.84 in 1Q24 to 0.62 in 1Q25 [7, 10] Foundry Segment - Wafer Shipments for 1Q25 were 910 thousand (12" wafer eq), compared to 909 thousand in 4Q24 [7] - Utilization rate for 1Q25 was 69%, compared to 70% in 4Q24 [7] - In 1Q25, 66% of Foundry Segment Sales came from Asia [17] - In 1Q25, 82% of Foundry Segment Sales came from Fabless customers [19] - In 1Q25, 39% of Foundry Segment Sales came from Communication applications [21] - In 1Q25, 50% of Foundry Segment Sales came from ≤ 40nm technology [23] Capacity and Expenditure - Total capacity for 1Q25 was 1,264 thousand (12" eq), compared to 1,280 thousand in 4Q24 [25] - The 2025 Foundry Capital Expenditure Plan is USD 1.8 billion, with 90% allocated to 12" and 10% to 8" [26]

Financial Position - As of March 31, 2025, total assets amounted to NT$572,962,283,000, a slight increase from NT$570,200,670,000 as of December 31, 2024[12] - Current assets reached NT$192,323,086,000, compared to NT$189,677,884,000 as of December 31, 2024, indicating a growth of approximately 1.9%[12] - Total liabilities were NT$652,673,000,000, up from NT$536,673,000,000 as of March 31, 2024, reflecting an increase of about 21.6%[13] - The company's equity attributable to the parent company was NT$125,583,590,000 as of March 31, 2025, slightly down from NT$125,607,164,000 as of December 31, 2024[13] - Total non-current assets were NT$380,639,197,000, showing a marginal increase from NT$380,522,793,000 as of December 31, 2024[12] Revenue and Profitability - Operating revenues for Q1 2025 reached NT$57,858,957, an increase from NT$54,632,099 in Q1 2024, representing a growth of approximately 4.1%[16] - Gross profit for Q1 2025 was NT$15,446,645, down from NT$16,899,430 in Q1 2024, indicating a decrease of about 8.6%[16] - Net income for Q1 2025 was NT$7,743,239, compared to NT$10,429,595 in Q1 2024, reflecting a decline of approximately 25.7%[16] - Total comprehensive income for Q1 2025 was NT$12,232,352, compared to NT$18,383,803 in Q1 2024, a decline of about 33.2%[17] Expenses and Costs - Research and development expenses increased to NT$3,963,703 in Q1 2025 from NT$3,407,407 in Q1 2024, marking an increase of about 16.3%[16] - The company recognized NT$40,360 million in operating costs for the three-month period ended March 31, 2025, compared to NT$35,375 million for the same period in 2024, representing an increase of 14.0%[59] Cash Flow and Liquidity - Cash generated from operations increased to $23,816,475 in Q1 2025, up from $20,143,385 in Q1 2024, representing a growth of 13.3%[22] - Net cash provided by operating activities rose to $23,825,705 in Q1 2025, compared to $20,819,871 in Q1 2024, an increase of 14.4%[22] - Cash and cash equivalents at the end of Q1 2025 were $106,353,757, down from $119,431,260 at the end of Q1 2024, a decrease of 10.9%[25] Investments and Financial Instruments - Investments accounted for under the equity method were NT$42,399,076,000, a decrease from NT$43,320,605,000 as of December 31, 2024[12] - Financial assets at fair value through profit or loss totaled $18,329,615 as of March 31, 2025, compared to $18,456,932 as of December 31, 2024[51] - Financial assets at fair value through other comprehensive income reached $17,632,064 as of March 31, 2025, up from $17,209,328 as of December 31, 2024[52] Debt and Liabilities - The total current portion of long-term loans was $5,617,402 as of March 31, 2025, compared to $5,528,409 as of December 31, 2024, indicating a slight increase of about 1.6%[99] - The total short-term loans as of March 31, 2025, decreased to $6,500,000 from $11,130,000 as of March 31, 2024, representing a reduction of approximately 41.5%[88] - Unsecured long-term loans from Bank of China decreased from $1,545,973 as of March 31, 2024, to $1,261,804 as of March 31, 2025, a reduction of approximately 18%[98] Shareholder Information - UMC's cash dividends for 2024 were NT$35,787,598, with a cash dividend per share of NT$2.85[112] - The total number of common shares issued as of March 31, 2025, was 12,558 million, with 433 million shares represented by ADSs traded on the NYSE[109] - UMC's dividend policy allows for cash dividends ranging from 20% to 100% and stock dividends from 0% to 80%[110] Other Comprehensive Income - Total other comprehensive income for the three-month period ended March 31, 2025, was NT$4,825,552, compared to NT$4,489,113 in 2024, showing an increase of 7.5%[141] - The company reported a share of profit or loss from associates and joint ventures of NT$(258,000,000) for the three-month period ended March 31, 2025, compared to NT$1,000,000 for the same period in 2024[8] Accounting Policies and Compliance - The company’s consolidated financial statements were prepared in accordance with IAS 34 "Interim Financial Reporting" and relevant regulations, ensuring compliance with financial reporting standards[41] - Significant accounting judgments and estimates applied in the financial statements for the three-month period ended March 31, 2025, are consistent with those from the previous year, indicating a stable approach to financial reporting[48]

市场消息：晶圆代工企业联电被问及有关与同业格芯（格罗方德）合作的相关媒体报导时表示，目前未 有合并活动。 ...

国芯网[原:中国半导体论坛] 振兴国产半导体产业！ 不拘中国、 放眼世界 ！ 关注 世界半导体论坛 ↓ ↓ ↓ 4月11日消息，据台媒报道，晶圆代工龙头大厂台积电过往每年都会在4月进行调薪，最新传出消息 显示，台积电今年将例行调薪3%至5%。而另一大晶圆代工厂商联电则预订于5月进行调薪，调涨幅 度也在3%至5% 台积电曾于2021年结构性调薪当时固定薪酬调高20%、2022年为5%至10%，2023年则是在5%以 内，2024年的例行性调薪与往年持平，约3％至5％。个人调薪幅度则依据个人绩效、年资、职级条 件而定。今年则尚未公布例行调薪幅度。 ***************END*************** 半导体公众号推荐 半导体论坛百万微信群 加群步骤： 第一步：扫描下方二维码，关注国芯网微信公众号。 第二步：在公众号里面回复"加群"，按照提示操作即可。 爆料｜投稿｜合作｜社群 文章内容整理自网络，如有侵权请联系沟通 投稿 或 商务合作 请 联系 iccountry 有偿新闻爆料 请添加 微信 iccountry 联电方面历年在5月例行调薪，对于外界关注今年调薪幅度，联电4月8日重申，调薪参考公司获利及 ...

Group 1 - United Microelectronics Corporation (UMC) shares increased by 9.2% to close at $7.15, with notable trading volume compared to typical sessions, contrasting with a 1.6% gain over the past four weeks [1] - UMC is experiencing strong demand for AI-driven services, increased semiconductor content in devices, and growing adoption of its 22nm specialty platform, with a new semiconductor fab in Singapore set to begin volume production in 2026, boosting capacity to over 1 million wafers annually [2] - The company is expected to report quarterly earnings of $0.10 per share, reflecting a year-over-year decline of 23.1%, while revenues are projected to be $1.81 billion, an increase of 5.9% from the previous year [3] Group 2 - The consensus EPS estimate for UMC has remained unchanged over the last 30 days, indicating that stock price movements may not sustain without trends in earnings estimate revisions [4] - UMC holds a Zacks Rank of 3 (Hold), indicating a neutral outlook, while Qualcomm (QCOM), another company in the same industry, closed 0.6% higher at $153.61, with a return of -2.8% over the past month [4] - Qualcomm's consensus EPS estimate has also remained unchanged at $2.79, representing a year-over-year increase of 14.3%, and it holds a Zacks Rank of 3 (Hold) [5]

Core Viewpoint - The potential merger between GlobalFoundries and UMC aims to create a larger American company to enhance chip production capabilities amid increasing competition from China in the mature chip sector [1][2][4]. Group 1: Merger Details - GlobalFoundries and UMC are exploring a merger to establish a company with a broader production footprint across Asia, the U.S., and Europe [1]. - The merger is intended to ensure the U.S. has access to mature chips, especially given the geopolitical tensions between China and Taiwan [1][4]. - The combined entity could potentially rival TSMC, which currently holds significant market shares in both mature and advanced chip markets [1][4]. Group 2: Regulatory and Government Involvement - U.S. government efforts have historically encouraged Taiwanese firms to increase chip production in the U.S., including urging UMC to build or acquire facilities [2]. - The potential merger may face regulatory scrutiny from both Taiwanese and Chinese authorities, as seen in previous cases like Intel's failed acquisition of Tower Semiconductor [2][4]. - Concerns have been raised about the impact of TSMC's $100 billion investment in the U.S. on Taiwan's semiconductor industry [2]. Group 3: Market Context and Competition - Mature chips account for over 70% of global semiconductor demand, crucial for various sectors including infrastructure and defense [4]. - UMC, established in 1980, is smaller than TSMC and employs around 20,000 people globally, serving major clients like Qualcomm and Nvidia [4][5]. - GlobalFoundries reported revenue of $6.75 billion with a net loss of $265 million, while UMC had revenue of NT$232.3 billion (approximately $7.21 billion) and a profit of NT$47.2 billion [5]. Group 4: Strategic Moves - UMC is collaborating with Intel to develop 12nm chips for various applications, aiming to start production in the U.S. by 2027 [5]. - UMC is also diversifying its manufacturing capabilities by expanding operations in Singapore [5]. - UMC's CFO stated that the company is not currently pursuing any merger deals and maintains good communication with all relevant governments, including the U.S. [6][7].

以下文章来源于芯思想 ，作者赵元闯 芯思想 . 中国半导体正能量传播平台。为中国半导体产业服务，我们都是中国半导体产业腾飞的见证人。新闻分 析，精彩评论，独家数据，为您定制信息，欢迎拍名片回复，和行业精英交流。 如果您希望可以时常见面，欢迎标星收藏哦~ 来源：内容转自【芯思想】，作者：赵元闯，谢谢。 2024年前十大专属晶圆代工公司中，增幅排名前三的都超过20%，增幅最高的是台积电（TSMC）， 年增幅32%；其次是晶合集成（Nexchip），年增幅达28%；增幅排名第三的是中芯国际（SMIC）， 达27%。2024年营收唯一出现下滑的是格芯（GlobalFoundries），下滑超过8%。 在IDM厂商代工方面，三星代工2024年营收约1462亿元，英特尔1261亿元，都较2023年下滑7%。 台积电 2023年台积电的3纳米正式贡献营收，到2024年第四季营收占比达26%，全年营收占比18%。 台积电在IEDM 2024大会上首次披露了2nm（N2）工艺的关键技术细节和性能指标： 对比3nm，晶 体管密度增加15％，同等功耗下性能提升15％，同等性能下功耗降低24-35％ ，同时通过NanoFlex技 术 ...

Group 1 - Ryan Messick employs a fundamentally-driven approach to value investing, focusing on companies with a strong margin of safety and growth catalysts [1] - The investment philosophy is influenced by legendary investors such as Benjamin Graham, Warren Buffett, Charlie Munger, and Joel Greenblatt [1] - The analysis primarily targets microcap and small cap value stocks, although larger companies are considered if they meet value criteria [1] Group 2 - Ryan Messick emphasizes long-term investment as a key strategy for gaining an edge in the market [1] - The focus is on value investing and growth at a reasonable price, with occasional analysis of special situations and merger arbitrage [1] - Ryan Messick is a graduate of Syracuse University, which may contribute to his analytical approach [1]

Core Insights - Medera Inc. and its subsidiary Novoheart have installed the CTScreen™ platform at the University Medical Center Utrecht, enhancing capabilities in cardiac disease modeling and therapeutic development [1][2][3] Company Overview - Medera is a clinical-stage biopharmaceutical company focused on addressing difficult-to-treat diseases with significant unmet needs, utilizing next-generation gene and cell-based approaches [5] - Novoheart specializes in human-based cardiac tissue engineering, particularly through its "mini-Heart™" platform, which allows for accurate modeling of human cardiac diseases [6] Technological Advancements - The CTScreen™ system supports high-throughput screening of bioengineered human cardiac tissues, enabling the evaluation of up to 96 samples simultaneously, which accelerates the drug development process [3][7] - This technology aims to improve the understanding of cardiac conditions and enhance drug safety through human-based assays [4][7] Research and Development Collaboration - The installation at UMC Utrecht signifies a strengthened partnership between Novoheart and the institution, aiming for breakthroughs in cardiovascular research [4][7] - UMC Utrecht researchers will utilize the CTScreen™ system to study disease mechanisms and optimize therapeutic candidates, particularly for conditions like familial cardiomyopathies [4][7] Clinical Development Pipeline - Medera's subsidiary Sardocor is advancing clinical trials for gene therapies targeting heart failure and Duchenne Muscular Dystrophy-induced cardiomyopathy, with three ongoing AAV-based cardiac gene therapy trials [9] - Sardocor's pipeline includes four preclinical gene therapy and three preclinical small molecule candidates targeting various cardiac, pulmonary, and vascular diseases [9]