UMC Reports Second Quarter 2022 Results

- FINANCIAL TABLES TO FOLLOW -

UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES
Consolidated Condensed Balance Sheet
As of June 30, 2022
Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$)

	June 30, 2022
	US$	NT$	%
Assets
Current assets
Cash and cash equivalents	6,184	183,723	36.8%
Accounts receivable, net	1,443	42,884	8.6%
Inventories, net	920	27,341	5.5%
Other current assets	399	11,830	2.3%
Total current assets	8,946	265,778	53.2%

Non-current assets
Funds and investments	2,234	66,373	13.3%
Property, plant and equipment	4,518	134,243	26.9%
Right-of-use assets	266	7,900	1.6%
Other non-current assets	857	25,460	5.0%
Total non-current assets	7,875	233,976	46.8%
Total assets	16,821	499,754	100.0%

Liabilities
Current liabilities
Short-term loans	21	624	0.1%
Payables	3,194	94,907	19.0%
Current portion of long-term liabilities	424	12,593	2.5%
Other current liabilities	798	23,689	4.8%
Total current liabilities	4,437	131,813	26.4%

Non-current liabilities
Bonds payable	777	23,080	4.6%
Long-term loans	761	22,619	4.5%
Lease liabilities, noncurrent	180	5,346	1.1%
Other non-current liabilities	1,132	33,648	6.7%
Total non-current liabilities	2,850	84,693	16.9%
Total liabilities	7,287	216,506	43.3%

Equity
Equity attributable to the parent company
Capital	4,201	124,821	25.0%
Additional paid-in capital	350	10,400	2.1%
Retained earnings and other components of equity	4,970	147,661	29.5%
Total equity attributable to the parent company	9,521	282,882	56.6%
Non-controlling interests	13	366	0.1%
Total equity	9,534	283,248	56.7%
Total liabilities and equity	16,821	499,754	100.0%



Note: New Taiwan Dollars have been translated into U.S. Dollars at the June 30, 2022 exchange rate of NT $29.71 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
	June 30, 2022		June 30, 2021		Chg.	June 30, 2022		March 31, 2022		Chg.
	US$	NT$	US$	NT$	%	US$	NT$	US$	NT$	%
Operating revenues	2,425	72,055	1,713	50,908	41.5%	2,425	72,055	2,135	63,423	13.6%
Operating costs	(1,298)	(38,583)	(1,178)	(35,000)	10.2%	(1,298)	(38,583)	(1,209)	(35,919)	7.4%
Gross profit	1,127	33,472	535	15,908	110.4%	1,127	33,472	926	27,504	21.7%
	46.5%	46.5%	31.3%	31.3%		46.5%	46.5%	43.4%	43.4%
Operating expenses
- Sales and marketing expenses	(31)	(915)	(38)	(1,131)	(19.1%)	(31)	(915)	(42)	(1,255)	(27.1%)
- General and administrative expenses	(87)	(2,579)	(63)	(1,901)	35.7%	(87)	(2,579)	(75)	(2,226)	15.8%
- Research and development expenses	(108)	(3,209)	(107)	(3,168)	1.3%	(108)	(3,209)	(102)	(3,033)	5.8%
- Expected credit impairment gain (loss)	(0)	(3)	(0)	(1)	90.3%	(0)	(3)	0	1	-
Subtotal	(226)	(6,706)	(208)	(6,201)	8.2%	(226)	(6,706)	(219)	(6,513)	3.0%
Net other operating income and expenses	47	1,398	54	1,606	(12.9%)	47	1,398	45	1,343	4.1%
Operating income	948	28,164	381	11,313	149.0%	948	28,164	752	22,334	26.1%
	39.1%	39.1%	22.2%	22.2%		39.1%	39.1%	35.2%	35.2%

Net non-operating income and expenses	(87)	(2,586)	63	1,881	-	(87)	(2,586)	44	1,314	-
Income from continuing operations
before income tax	861	25,578	444	13,194	93.9%	861	25,578	796	23,648	8.2%
	35.5%	35.5%	25.9%	25.9%		35.5%	35.5%	37.3%	37.3%

Income tax expense	(138)	(4,088)	(45)	(1,327)	207.8%	(138)	(4,088)	(121)	(3,582)	14.1%
Net income	723	21,490	399	11,867	81.1%	723	21,490	675	20,066	7.1%
	29.8%	29.8%	23.3%	23.3%		29.8%	29.8%	31.6%	31.6%

Other comprehensive income (loss)	(126)	(3,749)	(65)	(1,935)	93.8%	(126)	(3,749)	48	1,422	-

Total comprehensive income (loss)	597	17,741	334	9,932	78.6%	597	17,741	723	21,488	(17.4%)

Net income attributable to:
Shareholders of the parent	718	21,327	402	11,943	78.6%	718	21,327	667	19,808	7.7%
Non-controlling interests	5	163	(3)	(76)	-	5	163	8	258	(36.6%)

Comprehensive income (loss) attributable to:
Shareholders of the parent	592	17,578	337	10,008	75.6%	592	17,578	715	21,229	(17.2%)
Non-controlling interests	5	163	(3)	(76)	-	5	163	8	259	(36.6%)

Earnings per share-basic	0.059	1.74	0.033	0.98		0.059	1.74	0.054	1.61
Earnings per ADS ⁽²⁾	0.293	8.70	0.165	4.90		0.293	8.70	0.271	8.05
Weighted average number of shares
outstanding (in millions)		12,283		12,206			12,283		12,283


Notes:
(1) New Taiwan Dollars have been translated into U.S. Dollars at the June 30, 2022 exchange rate of NT $29.71 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 Six-Month Period Ended
	June 30, 2022			June 30, 2022
	US$	NT$	%	US$	NT$	%
Operating revenues	2,425	72,055	100.0%	4,560	135,478	100.0%
Operating costs	(1,298)	(38,583)	(53.5%)	(2,508)	(74,501)	(55.0%)
Gross profit	1,127	33,472	46.5%	2,052	60,977	45.0%


Operating expenses
- Sales and marketing expenses	(31)	(915)	(1.3%)	(73)	(2,170)	(1.6%)
- General and administrative expenses	(87)	(2,579)	(3.5%)	(162)	(4,806)	(3.5%)
- Research and development expenses	(108)	(3,209)	(4.5%)	(210)	(6,242)	(4.6%)
- Expected credit impairment loss	(0)	(3)	(0.0%)	(0)	(2)	(0.0%)
Subtotal	(226)	(6,706)	(9.3%)	(445)	(13,220)	(9.7%)
Net other operating income and expenses	47	1,398	1.9%	93	2,741	2.0%
Operating income	948	28,164	39.1%	1,700	50,498	37.3%

Net non-operating income and expenses	(87)	(2,586)	(3.6%)	(43)	(1,273)	(1.0%)
Income from continuing operations
before income tax	861	25,578	35.5%	1,657	49,225	36.3%


Income tax expense	(138)	(4,088)	(5.7%)	(258)	(7,669)	(5.6%)
Net income	723	21,490	29.8%	1,399	41,556	30.7%

Other comprehensive income (loss)	(126)	(3,749)	(5.2%)	(79)	(2,327)	(1.7%)

Total comprehensive income (loss)	597	17,741	24.6%	1,320	39,229	29.0%

Net income attributable to:
Shareholders of the parent	718	21,327	29.6%	1,385	41,134	30.4%
Non-controlling interests	5	163	0.2%	14	422	0.3%

Comprehensive income (loss) attributable to:
Shareholders of the parent	592	17,578	24.4%	1,306	38,807	28.7%
Non-controlling interests	5	163	0.2%	14	422	0.3%

Earnings per share-basic	0.059	1.74		0.113	3.35
Earnings per ADS ⁽²⁾	0.293	8.70		0.564	16.75

Weighted average number of shares
outstanding (in millions)		12,283			12,283

Notes:
(1) New Taiwan Dollars have been translated into U.S. Dollars at the June 30, 2022 exchange rate of NT $29.71 per U.S. Dollar.
(2) 1 ADS equals 5 common shares.

UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES
Consolidated Condensed Statement of Cash Flows
For The Six-Month Period Ended June 30, 2022
Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$)

	US$	NT$
Cash flows from operating activities :
Net income before tax	1,657	49,225
Depreciation & Amortization	757	22,497
Share of loss of associates and joint ventures	131	3,885
Income tax paid	(124)	(3,682)
Changes in working capital & others	(226)	(6,716)
Net cash provided by operating activities	2,195	65,209

Cash flows from investing activities :
Decrease in financial assets measured at amortized cost	889	26,418
Acquisition of property, plant and equipment	(731)	(21,710)
Acquisition of intangible assets	(42)	(1,236)
Others	(14)	(436)
Net cash provided by investing activities	102	3,036

Cash flows from financing activities :
Decrease in short-term loans	(45)	(1,349)
Redemption of bonds	(328)	(9,733)
Proceeds from long-term loans	24	710
Repayments of long-term loans	(390)	(11,588)
Others	19	578
Net cash used in financing activities	(720)	(21,382)

Effect of exchange rate changes on cash and cash equivalents	143	4,238
Net increase in cash and cash equivalents	1,720	51,101

Cash and cash equivalents at beginning of period	4,464	132,622

Cash and cash equivalents at end of period	6,184	183,723



Note: New Taiwan Dollars have been translated into U.S. Dollars at the June 30, 2022 exchange rate of NT $29.71 per U.S. Dollar.

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