Financial Performance - In Q4 2025, the company achieved a revenue of $659.9 million, marking a historical high with a year-on-year increase of 22.4% and a quarter-on-quarter increase of 3.9%, driven primarily by increased shipment volumes and ASP growth [4][23][24] - The gross margin stood at 13.0%, up 1.6 percentage points year-on-year, but down 0.5 percentage points quarter-on-quarter, mainly due to rising labor costs [4][23] - The net profit attributable to shareholders was $17.45 million, reflecting a significant year-on-year decline of 169.3% and a quarter-on-quarter decrease of 32.2% [4][24] Capacity and Utilization - As of Q4 2025, the company had an 8-inch wafer capacity of 486,000 pieces per month, with a utilization rate of 103.8%, down 5.7 percentage points quarter-on-quarter [4][5] - The ASP for 8-inch wafers was $438.1 per piece, showing a slight quarter-on-quarter increase of 0.4% [4][5] Revenue by Product Segments - Embedded non-volatile memory platform revenue reached $180.2 million, up 31.3% year-on-year and 12.9% quarter-on-quarter, driven by increased demand for MCUs and automotive-grade ICs [5][24] - Power devices generated $168.9 million in revenue, a year-on-year increase of 2.4%, primarily driven by general MOSFET products [5][24] - The revenue from analog and power management ICs was $173.8 million, reflecting a robust year-on-year growth of 40.7% [5][24] Guidance and Outlook - For Q1 2026, the company expects revenue to be between $650 million and $660 million, with a year-on-year growth of 21.5% and a quarter-on-quarter decrease of 0.74% [6][27] - The gross margin is projected to be between 13% and 15%, indicating a positive outlook for ASP driven by 12-inch demand [6][27] Capacity Expansion - The company has successfully completed the first phase of the Fab 9 project, which is expected to contribute an additional 40,000 pieces of 12-inch capacity [6][29] - Fab 9B is scheduled to start construction in March 2026, with plans for equipment installation to begin around October 2026 [6][39] Market Trends and Strategic Insights - The demand for AI-related products is driving growth across multiple technology platforms, particularly in power management and MCU sectors [28][34] - The company maintains a cautious optimism regarding ASP trends, with expectations for further price increases in the 12-inch segment while the 8-inch supply-demand balance remains relatively stable [6][34]