TSMC(US:TSM) 仪器信息网·2025-07-23 03:37Core Viewpoint - TSMC reported a net revenue of NT$933.78 billion for Q2 2025, reflecting a quarter-over-quarter increase of 11.3% and a year-over-year increase of 38.6%, driven by demand for 3nm technology and CoWoS packaging [1][2][8] Financial Performance - Gross margin for Q2 2025 was 58.6%, a slight decrease of 0.2 percentage points from Q1, influenced by unfavorable exchange rate fluctuations and dilution effects from overseas wafer fabs, although capacity utilization improvements and cost optimization measures partially offset these pressures [3] - Operating income reached NT$463.42 billion, with an operating margin of 49.6%, and net income attributable to shareholders was NT$398.27 billion, marking a 10.2% increase from Q1 and a 60.7% increase from Q2 2024 [3][4] Revenue Breakdown - Advanced technologies (7nm and below) accounted for 74% of total wafer revenue, with 3nm contributing 24%, 5nm at 36%, and 7nm at 14% [4][6] - North America represented 75% of total net revenue, indicating a concentration of revenue sources and potential geopolitical risks [5][8] Market Segmentation - High Performance Computing (HPC) accounted for 60% of revenue, while smartphones contributed 27%, reflecting the growing importance of AI chips and high-end mobile processors as core growth drivers [6][8] - Revenue from China was 9%, down from 16% in Q2 2024, indicating a shift in market dynamics [5][6]