UMC Reports First Quarter 2021 Results

The financial statements included in this release are prepared and published in accordance with Taiwan International Financial Reporting Standards, or TIFRSs, recognized by the Financial Supervisory Commission in the ROC, which is different from International Financial Reporting Standards, or IFRSs, issued by the International Accounting Standards Board. Investors are cautioned that there may be significant differences between TIFRSs and IFRSs. In addition, TIFRSs and IFRSs differ in certain significant respects from generally accepted accounting principles in the ROC and generally accepted accounting principles in the United States.

- FINANCIAL TABLES TO FOLLOW -

UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES
Consolidated Condensed Balance Sheet
As of March 31, 2021
Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$)


	March 31, 2021
	US$	NT$	%
Assets
Current assets
Cash and cash equivalents	3,760	107,285	27.2%
Accounts receivable, net	1,025	29,237	7.4%
Inventories, net	779	22,225	5.6%
Other current assets	713	20,336	5.2%
Total current assets	6,277	179,083	45.4%

Non-current assets
Funds and investments	2,273	64,835	16.4%
Property, plant and equipment	4,431	126,430	32.1%
Right-of-use assets	267	7,609	1.9%
Other non-current assets	571	16,305	4.2%
Total non-current assets	7,542	215,179	54.6%
Total assets	13,819	394,262	100.0%

Liabilities
Current liabilities
Short-term loans	181	5,163	1.3%
Payables	1,137	32,428	8.2%
Current portion of long-term liabilities	1,126	32,121	8.2%
Other current liabilities	309	8,819	2.2%
Total current liabilities	2,753	78,531	19.9%

Non-current liabilities
Bonds payable	368	10,492	2.7%
Long-term loans	603	17,210	4.4%
Lease liabilities, noncurrent	173	4,925	1.3%
Other non-current liabilities	1,171	33,431	8.4%
Total non-current liabilities	2,315	66,058	16.8%
Total liabilities	5,068	144,589	36.7%

Equity
Equity attributable to the parent company
Capital	4,354	124,224	31.5%
Additional paid-in capital	1,509	43,057	10.9%
Retained earnings and other components of equity	2,889	82,416	20.9%
Treasury stock	(4)	(120)	(0.0%)
Total equity attributable to the parent company	8,748	249,577	63.3%
Non-controlling interests	3	96	0.0%
Total equity	8,751	249,673	63.3%
Total liabilities and equity	13,819	394,262	100.0%







Note：New Taiwan Dollars have been translated into U.S. Dollars at the March 31, 2021 exchange rate of NT $28.53 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
	March 31, 2021		March 31, 2020		Chg.	March 31, 2021		December 31, 2020		Chg.
	US$	NT$	US$	NT$	%	US$	NT$	US$	NT$	%
Operating revenues	1,651	47,097	1,482	42,268	11.4%	1,651	47,097	1,588	45,296	4.0%
Operating costs	(1,213)	(34,603)	(1,197)	(34,146)	1.3%	(1,213)	(34,603)	(1,208)	(34,448)	0.4%
Gross profit	438	12,494	285	8,122	53.8%	438	12,494	380	10,848	15.2%
	26.5%	26.5%	19.2%	19.2%		26.5%	26.5%	23.9%	23.9%
Operating expenses
- Sales and marketing expenses	(38)	(1,089)	(36)	(1,040)	4.8%	(38)	(1,089)	(41)	(1,175)	(7.2%)
- General and administrative expenses	(63)	(1,806)	(55)	(1,543)	17.0%	(63)	(1,806)	(69)	(1,966)	(8.2%)
- Research and development expenses	(107)	(3,049)	(112)	(3,185)	(4.3%)	(107)	(3,049)	(112)	(3,194)	(4.5%)
- Expected credit impairment gain	0	12	2	46	(73.1%)	0	12	0	0	5,409.7%
Subtotal	(208)	(5,932)	(201)	(5,722)	3.7%	(208)	(5,932)	(222)	(6,335)	(6.4%)
Net other operating income and expenses	37	1,060	36	1,014	4.5%	37	1,060	39	1,102	(3.8%)
Operating income	267	7,622	120	3,414	123.2%	267	7,622	197	5,615	35.7%
	16.2%	16.2%	8.1%	8.1%		16.2%	16.2%	12.4%	12.4%

Net non-operating income and expenses	118	3,361	(91)	(2,592)	-	118	3,361	197	5,619	(40.2%)
Income from continuing operations before income tax	385	10,983	29	822	1,236.3%	385	10,983	394	11,234	(2.2%)
	23.3%	23.3%	1.9%	1.9%		23.3%	23.3%	24.8%	24.8%

Income tax benefit (expenses)	(38)	(1,094)	14	408	-	(38)	(1,094)	(12)	(344)	217.9%
Net income	347	9,889	43	1,230	703.8%	347	9,889	382	10,890	(9.2%)
	21.0%	21.0%	2.9%	2.9%		21.0%	21.0%	24.0%	24.0%

Other comprehensive income (loss)	124	3,556	(130)	(3,714)	-	124	3,556	134	3,831	(7.2%)

Total comprehensive income (loss)	471	13,445	(87)	(2,484)	-	471	13,445	516	14,721	(8.7%)

Net income attributable to:
Stockholders of the parent	366	10,428	77	2,207	372.5%	366	10,428	393	11,196	(6.9%)
Non-controlling interests	(19)	(539)	(34)	(977)	(44.8%)	(19)	(539)	(11)	(306)	76.1%

Comprehensive income (loss) attributable to:
Stockholders of the parent	490	13,984	(57)	(1,634)	-	490	13,984	527	15,027	(6.9%)
Non-controlling interests	(19)	(539)	(30)	(850)	(36.6%)	(19)	(539)	(11)	(306)	76.1%

Earnings per share-basic	0.030	0.85	0.007	0.19		0.030	0.85	0.032	0.92
Earnings per ADS ⁽²⁾	0.149	4.25	0.033	0.95		0.149	4.25	0.161	4.60
Weighted average number of shares
outstanding (in millions)		12,206		11,783			12,206		12,206


Notes:
(1) New Taiwan Dollars have been translated into U.S. Dollars at the March 31, 2021 exchange rate of NT $28.53 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 Three-Month Period Ended
	March 31, 2021			March 31, 2021
	US$	NT$	%	US$	NT$	%
Operating revenues	1,651	47,097	100.0%	1,651	47,097	100.0%
Operating costs	(1,213)	(34,603)	(73.5%)	(1,213)	(34,603)	(73.5%)
Gross profit	438	12,494	26.5%	438	12,494	26.5%


Operating expenses
- Sales and marketing expenses	(38)	(1,089)	(2.3%)	(38)	(1,089)	(2.3%)
- General and administrative expenses	(63)	(1,806)	(3.8%)	(63)	(1,806)	(3.8%)
- Research and development expenses	(107)	(3,049)	(6.5%)	(107)	(3,049)	(6.5%)
- Expected credit impairment gain	0	12	0.0%	0	12	0.0%
Subtotal	(208)	(5,932)	(12.6%)	(208)	(5,932)	(12.6%)
Net other operating income and expenses	37	1,060	2.3%	37	1,060	2.3%
Operating income	267	7,622	16.2%	267	7,622	16.2%

Net non-operating income and expenses	118	3,361	7.1%	118	3,361	7.1%
Income from continuing operations before income tax	385	10,983	23.3%	385	10,983	23.3%


Income tax expense	(38)	(1,094)	(2.3%)	(38)	(1,094)	(2.3%)
Net income	347	9,889	21.0%	347	9,889	21.0%

Other comprehensive income (loss)	124	3,556	7.6%	124	3,556	7.6%

Total comprehensive income (loss)	471	13,445	28.6%	471	13,445	28.6%

Net income attributable to:
Stockholders of the parent	366	10,428	22.1%	366	10,428	22.1%
Non-controlling interests	(19)	(539)	(1.1%)	(19)	(539)	(1.1%)

Comprehensive income (loss) attributable to:
Stockholders of the parent	490	13,984	29.7%	490	13,984	29.7%
Non-controlling interests	(19)	(539)	(1.1%)	(19)	(539)	(1.1%)

Earnings per share-basic	0.030	0.85		0.030	0.85
Earnings per ADS ⁽²⁾	0.149	4.25		0.149	4.25

Weighted average number of shares outstanding (in millions)		12,206			12,206

Notes:
(1) New Taiwan Dollars have been translated into U.S. Dollars at the March 31, 2021 exchange rate of NT $28.53 per U.S. Dollar.
(2) 1 ADS equals 5 common shares.

UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES
Consolidated Condensed Statement of Cash Flows
For The Three-Month Period Ended March 31, 2021
Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$)

	US$	NT$
Cash flows from operating activities :
Net income before tax	385	10,983
Depreciation & Amortization	415	11,833
Share of profit of associates and joint ventures	(62)	(1,767)
Changes in working capital & others	(97)	(2,768)
Net cash provided by operating activities	641	18,281

Cash flows from investing activities :
Acquisition of property, plant and equipment	(258)	(7,352)
Acquisition of intangible assets	(22)	(619)
Others	30	851
Net cash used in investing activities	(250)	(7,120)

Cash flows from financing activities :
Decrease in short-term loans	(204)	(5,815)
Proceeds from long-term loans	440	12,560
Repayments of long-term loans	(153)	(4,377)
Others	7	212
Net cash provided by financing activities	90	2,580

Effect of exchange rate changes on cash and cash equivalents	(17)	(504)
Net increase in cash and cash equivalents	464	13,237

Cash and cash equivalents at beginning of period	3,296	94,048

Cash and cash equivalents at end of period	3,760	107,285



Note: New Taiwan Dollars have been translated into U.S. Dollars at the March 31, 2021 exchange rate of NT $28.53 per U.S. Dollar.

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