晶圆代工龙头台积电13日召开董事会，全球瞩目，经济日报为读者整理台积电股东会重点，让读者一文 掌握关键数字与趋势。 第1季财报确认 台积电于13日正式核准2025年第1季财报，确认合并营收达8,392.5亿元新台币，税后纯益为3,615.6亿元 新台币，每股盈余13.95元新台币，与先前法说会所揭示数据一致，显示公司首季财务表现持稳且符合 市场预期。 股利政策与除息安排 针对股东权益的回馈，台积电董事会决议通过2025年第1季每股现金股利5.00元。普通股的除息交易日 订于9月16日，股息基准日为9月22日，实际配息发放日则为10月9日。根据《公司法》第165条，股东名 簿将自9月18日至22日停止过户。值得一提的是，台积电在美国纽约证交所挂牌之ADR，其除息与配息 基准日也同步订于9月16日，与中国台湾市场一致。 资本预算再加码 在长期扩产与技术布局方面，董事会核准新一波资本预算，总额约152.48亿美元，用于建置先进制程产 能、扩充先进封装及特殊制程产线，并涵盖厂房兴建与厂务设施工程。这项决议与公司于法说会中揭示 的全年资本支出区间380至420亿美元相呼应，显示公司将持续投入以维持技术领先与产能弹性。 ...

Financial Data and Key Metrics Changes - In Q1 2025, the company reported a net income of $20.5 million and operating income of $69.4 million, with net cash provided by operating activities at $54.7 million [12] - The average revenue per horsepower reached an all-time high of $21.6, reflecting a 1% increase sequentially and a 6% increase year-over-year [12] - The adjusted gross margin for Q1 was nearly 67%, consistent with previous quarters [12][14] Business Line Data and Key Metrics Changes - The total fleet horsepower at the end of Q1 was approximately 3.9 million horsepower, unchanged from the prior quarter, while revenue-generating horsepower was flat sequentially but up 2% year-over-year [13] - Average utilization for the first quarter was 94.4%, slightly down from 94.5% in the prior quarter [13] Market Data and Key Metrics Changes - The company holds the largest contract compression fleet in the Northeast, totaling around 900,000 horsepower, benefiting from strong demand in the data center market [7][8] - Key upstream companies in the Permian and Northeast reaffirmed their full-year capital production targets despite softening commodity prices [7] Company Strategy and Development Direction - The company is focused on disciplined growth, particularly in acquiring large horsepower, while monitoring market conditions closely [6][10] - The transition of IT and HR functions has been completed, with an ERP implementation planned for Q1 2026 to improve business management [11] Management's Comments on Operating Environment and Future Outlook - Management noted that while commodity prices have softened, the compression business is sustained by long-term agreements, making it less susceptible to short-term price fluctuations [10] - The company anticipates maintaining adjusted operating margins around 67% and is committed to reducing its leverage ratio while funding new growth projects [14][15] Other Important Information - The company has completed its idle to active initiative, with large horsepower utilization remaining close to fully utilized [6] - A promotion of Chris Wasson to Chief Operating Officer was highlighted, recognizing his leadership in the Permian operations [10] Q&A Session Summary Question: Guidance for 2025 - Management confirmed maintaining the guidance range of $590 million to $610 million for adjusted EBITDA, with Q1 performance aligning with the midpoint of this range [20][21] Question: Growth Outlook Beyond 2025 - Management indicated strong interest in 2026 proposals, with ongoing discussions and RFPs being undertaken despite current macroeconomic uncertainties [22][24] Question: Operating Horsepower Growth - The addition of 40,000 horsepower in Q1 was noted as below the full-year forecast, but management expressed confidence in meeting year-end targets [27][28] Question: Contracting Environment - Management stated that there has not been a significant change in contract duration or terms, with a preference for longer-term agreements to mitigate risks [36][37] Question: Lead Times and Manufacturing - Lead times for equipment remain stable, with no significant changes expected unless tariffs impact the market [38][39] Question: Asset Sales and Portfolio Optimization - Management confirmed ongoing efforts to optimize the portfolio through modest asset sales and swaps, aiming to improve overall efficiency [42][43]