UMC Reports Third Quarter 2016 Results

² Revenue in this section represents wafer sales

³ Utilization Rate = Quarterly Wafer Out / Quarterly Capacity

⁴ Estimated capacity numbers are based on calculated maximum output rather than designed capacity. The actual capacity numbers may differ depending upon equipment delivery schedules, pace of migration to more advanced process technologies, and other factors affecting production ramp-up.

- FINANCIAL TABLES TO FOLLOW -

UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES
Consolidated Condensed Balance Sheet
As of September 30, 2016
Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$)


	September 30, 2016
	US$		NT$		%
Assets
Current assets
Cash and cash equivalents	1,762		55,266		14.7	%
Financial assets at fair value through profit or loss, current	24		751		0.2	%
Notes & Accounts receivable, net	713		22,366		6.0	%
Inventories, net	547		17,167		4.6	%
Other current assets	365		11,420		3.0	%
Total current assets	3,411		106,970		28.5	%

Non-current assets
Funds and investments	1,205		37,799		10.1	%
Property, plant and equipment	6,869		215,414		57.5	%
Other non-current assets	472		14,776		3.9	%
Total non-current assets	8,546		267,989		71.5	%
Total assets	11,957		374,959		100.0	%

Liabilities
Current liabilities
Short-term loans	1,142		35,821		9.6	%
Payables	1,079		33,853		9.0	%
Current portion of long-term liabilities	358		11,225		3.0	%
Other current liabilities	82		2,542		0.7	%
Total current liabilities	2,661		83,441		22.3	%

Non-current liabilities
Bonds payable	1,097		34,395		9.2	%
Long-term loans	169		5,290		1.4	%
Other non-current liabilities	1,046		32,834		8.7	%
Total non-current liabilities	2,312		72,519		19.3	%
Total liabilities	4,973		155,960		41.6	%

Equity
Equity attributable to the parent company
Capital	4,026		126,243		33.7	%
Additional paid-in capital	1,307		41,005		11.0	%
Retained earnings, unrealized gain or loss on available-for-sale financial assets and exchange differences on translation of foreign operations	1,749		54,862		14.6	%
Treasury stock	(150	)	(4,719	)	(1.3	%)
Total equity attributable to the parent company	6,932		217,391		58.0	%
Non-controlling interests	52		1,608		0.4	%
Total equity	6,984		218,999		58.4	%
Total liabilities and equity	11,957		374,959		100.0	%

Note: New Taiwan Dollars have been translated into U.S. Dollars at the September 30, 2016 exchange rate of NT $31.36 per U.S. Dollar.

UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES
Consolidated Condensed Statements of Comprehensive Income
Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$)
Except Per Share and Per ADS Data


	Year over Year Comparison										Quarter over Quarter Comparison
	Three-Month Period Ended										Three-Month Period Ended
	September 30, 2016				September 30, 2015				Chg.		September 30, 2016				June 30, 2016				Chg.
	US$		NT$		US$		NT$		%		US$		NT$		US$		NT$		%
Net operating revenues	1,217		38,164		1,126		35,320		8.1	%	1,217		38,164		1,180		36,997		3.2	%
Operating costs	(952	)	(29,863	)	(906	)	(28,409	)	5.1	%	(952	)	(29,863	)	(916	)	(28,712	)	4.0	%
Gross profit	265		8,301		220		6,911		20.1	%	265		8,301		264		8,285		0.2	%
	21.8	%	21.8	%	19.6	%	19.6	%			21.8	%	21.8	%	22.4	%	22.4	%
Operating expenses
- Sales and marketing expenses	(39	)	(1,207	)	(33	)	(1,045	)	15.5	%	(39	)	(1,207	)	(35	)	(1,092	)	10.5	%
- General and administrative expenses	(57	)	(1,769	)	(30	)	(942	)	87.8	%	(57	)	(1,769	)	(49	)	(1,541	)	14.8	%
- Research and development expenses	(108	)	(3,397	)	(100	)	(3,139	)	8.2	%	(108	)	(3,397	)	(103	)	(3,226	)	5.3	%
Subtotal	(204	)	(6,373	)	(163	)	(5,126	)	24.3	%	(204	)	(6,373	)	(187	)	(5,859	)	8.8	%
Net other operating income and expenses	(14	)	(443	)	(26	)	(804	)	(44.9	%)	(14	)	(443	)	1		23		-
Operating income	47		1,485		31		981		51.4	%	47		1,485		78		2,449		(39.4	%)
	3.9	%	3.9	%	2.8	%	2.8	%			3.9	%	3.9	%	6.6	%	6.6	%

Net non-operating income and expenses	15		466		13		410		13.7	%	15		466		(21	)	(650	)	-
Income from continuing operations before income tax	62		1,951		44		1,391		40.3	%	62		1,951		57		1,799		8.4	%
	5.1	%	5.1	%	3.9	%	3.9	%			5.1	%	5.1	%	4.9	%	4.9	%

Income tax expense	(6	)	(195	)	(2	)	(84	)	132.1	%	(6	)	(195	)	(7	)	(220	)	(11.4	%)
Net income	56		1,756		42		1,307		34.4	%	56		1,756		50		1,579		11.2	%
	4.6	%	4.6	%	3.7	%	3.7	%			4.6	%	4.6	%	4.3	%	4.3	%

Other comprehensive income (loss)	(71	)	(2,213	)	49		1,543		-		(71	)	(2,213	)	(31	)	(977	)	126.5	%

Total comprehensive income (loss)	(15	)	(457	)	91		2,850		-		(15	)	(457	)	19		602		-

Net income attributable to:
Stockholders of the parent	95		2,975		54		1,708		74.2	%	95		2,975		82		2,583		15.2	%
Non-controlling interests	(39	)	(1,219	)	(12	)	(401	)	204.0	%	(39	)	(1,219	)	(32	)	(1,004	)	21.4	%

Comprehensive income (loss) attributable to:
Stockholders of the parent	26		802		103		3,215		(75.1	%)	26		802		52		1,635		(50.9	%)
Non-controlling interests	(41	)	(1,259	)	(12	)	(365	)	244.9	%	(41	)	(1,259	)	(33	)	(1,033	)	21.9	%

Earnings per share-basic	0.008		0.24		0.004		0.14				0.008		0.24		0.007		0.21
Earnings per ADS ⁽²⁾	0.038		1.20		0.022		0.70				0.038		1.20		0.033		1.05
Weighted average number of shares
outstanding (in millions)			12,208				12,525						12,208				12,335

Notes:
(1) New Taiwan Dollars have been translated into U.S. Dollars at the September 30, 2016 exchange rate of NT $31.36 per U.S. Dollar.
(2) 1 ADS equals 5 common shares.

UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES
Consolidated Condensed Statements of Comprehensive Income
Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$)
Except Per Share and Per ADS Data

	For the Three-Month Period Ended						For the Nine-Month Period Ended
	September 30, 2016						September 30, 2016
	US$		NT$		%		US$		NT$		%
Net operating revenues	1,217		38,164		100.0	%	3,494		109,564		100.0	%
Operating costs	(952	)	(29,863	)	(78.2	%)	(2,805	)	(87,944	)	(80.3	%)
Gross profit	265		8,301		21.8	%	689		21,620		19.7	%


Operating expenses
- Sales and marketing expenses	(39	)	(1,207	)	(3.2	%)	(105	)	(3,308	)	(3.0	%)
- General and administrative expenses	(57	)	(1,769	)	(4.6	%)	(136	)	(4,280	)	(3.9	%)
- Research and development expenses	(108	)	(3,397	)	(8.9	%)	(310	)	(9,708	)	(8.9	%)
Subtotal	(204	)	(6,373	)	(16.7	%)	(551	)	(17,296	)	(15.8	%)
Net other operating income and expenses	(14	)	(443	)	(1.2	%)	(13	)	(407	)	(0.3	%)
Operating income	47		1,485		3.9	%	125		3,917		3.6	%

Net non-operating income and expenses	15		466		1.2	%	(4	)	(137	)	(0.1	%)
Income from continuing operations before income tax	62		1,951		5.1	%	121		3,780		3.5	%


Income tax expense	(6	)	(195	)	(0.5	%)	(12	)	(366	)	(0.4	%)
Net income	56		1,756		4.6	%	109		3,414		3.1	%

Other comprehensive income (loss)	(71	)	(2,213	)	(5.8	%)	(120	)	(3,773	)	(3.4	%)

Total comprehensive income (loss)	(15	)	(457	)	(1.2	%)	(11	)	(359	)	(0.3	%)

Net income attributable to:
Stockholders of the parent	95		2,975		7.8	%	184		5,768		5.3	%
Non-controlling interests	(39	)	(1,219	)	(3.2	%)	(75	)	(2,354	)	(2.2	%)

Comprehensive income (loss) attributable to:
Stockholders of the parent	26		802		2.1	%	66		2,081		1.9	%
Non-controlling interests	(41	)	(1,259	)	(3.3	%)	(77	)	(2,440	)	(2.2	%)

Earnings per share-basic	0.008		0.24				0.015		0.47
Earnings per ADS ⁽²⁾	0.038		1.20				0.075		2.35

Weighted average number of shares outstanding (in millions)			12,208						12,317

Notes:
(1) New Taiwan Dollars have been translated into U.S. Dollars at the September 30, 2016 exchange rate of NT $31.36 per U.S. Dollar.
(2) 1 ADS equals 5 common shares.

UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES
Consolidated Condensed Statement of Cash Flows
For The Nine-Month Period Ended September 30, 2016
Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$)

	US$		NT$
Cash flows from operating activities :
Net income before tax	121		3,780
Depreciation & Amortization	1,231		38,607
Gain on disposal of investments	(34	)	(1,074	)
Changes in notes & accounts receivable	(104	)	(3,271	)
Changes in prepayments	(267	)	(8,379	)
Changes in assets, liabilities and others	38		1,241
Net cash provided by operating activities	985		30,904

Cash flows from investing activities :
Proceeds from disposal of available-for-sale financial assets	65		2,044
Acquisition of property, plant and equipment	(2,221	)	(69,656	)
Acquisition of intangible assets	(39	)	(1,238	)
Others	225		7,085
Net cash used in investing activities	(1,970	)	(61,765	)

Cash flows from financing activities :
Increase in short-term loans	1,001		31,379
Proceeds from long-term loans	64		2,000
Repayments of long-term loans	(175	)	(5,475	)
Increase in other financial liabilities	510		15,979
Cash dividends	(220	)	(6,907	)
Treasury stock acquired	(76	)	(2,396	)
Others	(1	)	(5	)
Net cash provided by financing activities	1,103		34,575

Effect of exchange rate changes on cash and cash equivalents	(55	)	(1,738	)
Net Increase in cash and cash equivalents	63		1,976

Cash and cash equivalents at beginning of period	1,699		53,290

Cash and cash equivalents at end of period	1,762		55,266

Note: New Taiwan Dollars have been translated into U.S. Dollars at the September 30, 2016 exchange rate of NT $31.36 per U.S. Dollar.

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