硅片大厂，14年来首次亏损，股价暴跌

Core Viewpoint - SUMCO, a major silicon wafer manufacturer, is forecasting a bleak performance for the upcoming quarter (October-December 2025), with expectations of losses for two consecutive quarters and the first annual loss in 14 years, which is below market expectations [2][3]. Financial Performance - For the last quarter (July-September 2025), SUMCO reported a slight revenue increase of 0.7% year-on-year to 99.1 billion yen, but the operating profit turned from a profit of 9.1 billion yen last year to a loss of 1.6 billion yen, and the net profit shifted from a profit of 3.6 billion yen to a loss of 3.9 billion yen [2]. - The forecast for the upcoming quarter includes expected revenue of 100 billion yen (same as last year), an operating loss of 10 billion yen (compared to an operating profit of 7 billion yen last year), and a net loss of 16 billion yen (compared to a net profit of 3.6 billion yen last year) [3]. - For the entire fiscal year (2025), SUMCO anticipates a revenue increase of 2% to 404.4 billion yen, an operating loss of 4.2 billion yen (down from an operating profit of 36.9 billion yen last year), and a net loss of 16.9 billion yen (down from a net profit of 19.8 billion yen last year), marking the first annual loss since 2011 [3]. Market Dynamics - Demand for advanced 12-inch silicon wafers used in AI applications remains strong, while demand for traditional products is recovering slowly due to customer inventory adjustments [3]. - The shipment volume for 8-inch and smaller silicon wafers is expected to remain low, influenced by competition with Chinese manufacturers [4]. Shareholder Information - SUMCO is the largest shareholder of Taisun Technology, holding approximately 40% of its shares through its subsidiary SUMCO TECHXIV [4].