TSMC(US:TSM) 半导体行业观察·2026-01-01 01:26Core Viewpoint - TSMC has received an annual license from the U.S. government to import American chip manufacturing equipment to its factory in Nanjing, China, ensuring uninterrupted operations and product delivery [1] Group 1: TSMC's U.S. Operations - TSMC's new factory in Silicon Valley is projected to incur a loss of nearly 14.3 billion New Taiwan Dollars (NTD) in 2024, making it the most costly overseas facility [2] - The cumulative losses for TSMC's U.S. factory from 2021 to 2023 reached approximately 4 billion NTD, with losses of 4.81 billion NTD in 2021, 9.43 billion NTD in 2022, and 10.924 billion NTD in 2023 [2] - TSMC's chairman stated that the construction of the U.S. factory is entirely based on customer demand, and once completed, it will contribute about 30% of TSMC's 2nm and more advanced production capacity [2] Group 2: TSMC's Nanjing Operations - TSMC's subsidiary in Nanjing reported a profit of 25.954 billion NTD last year, showing a consistent increase from 12.283 billion NTD in 2021, 20.486 billion NTD in 2022, and 21.755 billion NTD in 2023 [2] - Over four years, the total profit from the Nanjing factory exceeded 80 billion NTD, indicating strong performance compared to its U.S. counterparts [2]