2024-02-06 10:43Financial Performance - In Q4 2023, the revenue was $1,678.3 million, a 3.6% increase from Q3 2023 and a 3.5% decrease from Q4 2022[1][4]. - The gross profit for Q4 2023 was $275.0 million, down 14.5% from Q3 2023 and down 47.0% from Q4 2022[1][4]. - The gross margin for Q4 2023 was 16.4%, compared to 19.8% in Q3 2023 and 32.0% in Q4 2022[1][4]. - The unaudited full-year revenue for 2023 was $6,321.6 million, a 13% decrease from $7,273.3 million in 2022[1][4]. - The profit attributable to shareholders for 2023 was $902.5 million, a 50.4% decrease from $1,817.9 million in 2022[1][4]. - The company reported a net profit of $237.3 million in Q4 2023, representing a 51.7% increase from Q3 2023 but a 44.2% decrease from Q4 2022[1][4]. - The total comprehensive income for Q4 2023 was $249,296, compared to $135,356 in Q3 2023, reflecting a significant increase of approximately 84.2%[20]. - The net profit for the three months ending December 31, 2023, was $237,268 thousand, an increase from $156,376 thousand in the previous quarter, representing a growth of 51.6%[24]. Capacity and Utilization - The average capacity utilization rate for 2023 was 75%, with an 8-inch monthly capacity of 806,000 wafers at year-end[4]. - Q4 2023 wafer sales volume was 1,675,002, a 9.0% increase from Q3 2023's 1,536,845[12]. - Q4 2023 capacity utilization rate was 76.8%, slightly down from 77.1% in Q3 2023[12]. Future Outlook - For Q1 2024, the company expects revenue to remain flat or grow by 2%, with a gross margin forecasted between 9% and 11%[3][4]. - The company anticipates that the revenue growth for 2024 will not be less than the average of comparable peers, with a mid-single-digit percentage increase year-over-year[4]. - Capital expenditures for 2024 are expected to be roughly in line with 2023 levels[4]. Expenses and Cash Flow - Operating expenses in Q4 2023 decreased to $167.7 million from $234.2 million in Q3 2023, a reduction of 28.4%[14]. - Other income for Q4 2023 was $140.7 million, a 74.9% increase from Q3 2023's $80.4 million[15]. - The company incurred capital expenditures of $2,317,547 thousand for property, plant, and equipment, compared to $2,253,086 thousand in the previous quarter, showing an increase of 2.9%[24]. - The net cash used in investing activities was $(2,171,391) in Q4 2023, compared to $(1,710,713) in Q3 2023, indicating a higher cash outflow[18]. - The cash flow from financing activities was $483,441 thousand, an increase from $358,107 thousand in the previous quarter, reflecting a growth of 35%[24]. Balance Sheet and Ratios - The company’s cash and cash equivalents decreased to $6,215.1 million in Q4 2023 from $6,953.6 million in Q3 2023[16]. - The company’s current ratio remained stable at 1.8 in both Q4 2023 and Q3 2023[16]. - The company reported a net debt of $(6,496,852) in Q4 2023, improving from $(7,721,898) in Q3 2023, indicating a reduction in net debt[17]. - The equity ratio improved to 33.1% in Q4 2023 from 31.5% in Q3 2023, indicating a stronger equity position[17]. - The company’s total liabilities increased to $16,941,696 in Q4 2023 from $16,170,494 in Q3 2023, an increase of about 4.8%[23]. - Total assets rose to $47,787,312 as of December 31, 2023, compared to $46,754,462 at the end of Q3 2023, an increase of about 2.2%[23]. Research and Development - Research and development expenses increased to $(189,138) in Q4 2023 from $(172,836) in Q3 2023, a rise of approximately 9.4%[20].