联电：晶圆出货量不受关税影响

Core Viewpoint - United Microelectronics Corporation (UMC) anticipates a 7% increase in wafer shipments for the current quarter compared to the previous quarter, with capacity utilization rising to 75%, indicating stable order behavior from clients despite uncertainties in U.S. tariff policies [1][2]. Group 1: Business Outlook - UMC's CFO noted that the uncertainty surrounding U.S. tariffs has created pressure on the business outlook for the second half of the year, but there has been no significant change in market demand [1]. - Some clients are adopting a wait-and-see approach due to the escalating trade tensions, while others are moving forward with orders, resulting in limited net impact for the second quarter [1]. Group 2: Financial Performance - UMC reported its lowest profit in about 19 quarters, with a net profit decrease of 8.5% quarter-over-quarter and 25.6% year-over-year, amounting to NT$77.8 billion (approximately $2.394 billion) [2]. - Earnings per share fell from NT$0.68 in the previous quarter and NT$0.84 in the same quarter last year to NT$0.62 [2]. Group 3: Market Demand and Projections - The company expects gross margin to rebound to around 30% in the current quarter, up from 26.7% in the previous quarter, unaffected by typical one-time price reductions at the beginning of the year [2]. - Demand for chips in the communication, computing, and consumer electronics sectors is expected to drive factory utilization rates higher, which were only 69% in the last quarter [2]. - UMC projects a revenue growth of over 3% for the entire year, surpassing the low single-digit percentage growth expected in the global foundry industry [2].