Core Viewpoint - TSMC's 2024 Sustainability Report highlights the company's strong employee compensation and benefits, with 84% of employees considering them reasonable, surpassing global high-performance companies and high-tech firms [2][3] Employee Compensation and Benefits - TSMC's total employee compensation and benefits reached NT$357 million, with 84% of employees deeming it reasonable, significantly higher than the global average of 66% and 61% for high-tech companies [2][3] - The company added over 10,000 employees in the past year, bringing the total to 84,512 [2] - TSMC's employee stock purchase plan, initiated in 2022, has over 85% participation, with a 15% subsidy provided by the company [2] - From 2020 to 2024, total employee compensation expenses increased from approximately NT$140.8 billion to NT$301.8 billion, while average per capita compensation rose from NT$2.47 million to NT$3.57 million [2] Financial Performance - TSMC's financial data for 2024 shows record-breaking figures: consolidated revenue of approximately $89.7 billion, net profit of about $36.4 billion, and capital expenditures of around $29.6 billion [4] - R&D investment reached $6.361 billion, accounting for 7.1% of revenue, with a 3.1 times increase in R&D expenses over the past decade [4] - 69% of revenue comes from advanced processes of 7nm and below, an increase of 11 percentage points from the previous year [4][5] Patent Accumulation and Economic Impact - As of 2024, TSMC has been granted over 70,833 patents, reflecting its strong R&D output [5] - TSMC contributes approximately $76 billion to Taiwan's economy and supports around 358,000 jobs [5] - The company serves 522 customers and delivered 12.9 million 12-inch wafer equivalents in the past year [5] Competitive Advantage - TSMC's competitive edge is summarized in a "triple spiral" model: - Capital spiral: High capital expenditures drive capacity and advanced process expansion - R&D spiral: Continuous investment in R&D creates advantages in advanced processes and yield - Talent spiral: Competitive compensation packages attract and retain top talent [5] - This combined effect ensures TSMC's technological leadership and stability amid global geopolitical and industrial fluctuations [5]