Fourth quarter operating revenues declined 0.2% sequentially to NT$60.39 billion. Revenue contribution from 40nm and below technologies represented 50% of wafer revenue. Gross profit decreased 10.2% QoQ to NT$18.34 billion, or 30.4% of revenue. Operating expenses increased 2.9% to NT$6.75 billion. Net other operating income increased 57.7% to NT$0.36 billion. Net non-operating expenses totaled NT$1.44 billion. Net income attributable to shareholders of the parent amounted to NT$8.50 billion.

Earnings per ordinary share for the quarter was NT$0.68. Earnings per ADS was US$0.104. The basic weighted average number of shares outstanding in 4Q24 was 12,481,192,676, compared with 12,436,436,695 shares in 3Q24 and 12,414,087,724 shares in 4Q23. The diluted weighted average number of shares outstanding was 12,610,756,874 in 4Q24, compared with 12,559,358,115 shares in 3Q24 and 12,589,138,701 shares in 4Q23. The fully diluted shares counted on December 31, 2024 were approximately 12,614,345,000.

Detailed Financials Section

Operating revenues decreased to NT$60.39 billion. COGS grew 5.0% to NT$42.04 billion, which included 13.3% sequential increase in depreciation. Gross profit decreased 10.2% QoQ to NT$18.34 billion. Operating expenses increased to NT$6.75 billion, as R&D grew 7.8% sequentially to NT$4.33 billion or 7.2% of revenue, while Sales & Marketing decreased 13.0% to NT$0.62 billion and G&A also declined 1.6% QoQ to NT$1.79 billion. Net other operating income was NT$0.36 billion. In 4Q24, operating income declined 15.2% QoQ to NT$11.96 billion.

COGS & Expenses
(Amount: NT$ million)		4Q24			3Q24			QoQ % change			4Q23			YoY % change
Operating Revenues		60,386			60,485			(0.2	)		54,958			9.9
COGS		(42,043	)		(40,056	)		5.0			(37,152	)		13.2
Depreciation		(11,841	)		(10,449	)		13.3			(9,006	)		31.5
Other Mfg. Costs		(30,202	)		(29,607	)		2.0			(28,146	)		7.3
Gross Profit		18,343			20,429			(10.2	)		17,806			3.0
Gross Margin (%)		30.4	%		33.8	%					32.4	%
Operating Expenses		(6,748	)		(6,559	)		2.9			(6,635	)		1.7
Sales & Marketing		(623	)		(717	)		(13.0	)		(823	)		(24.3	)
G&A		(1,791	)		(1,820	)		(1.6	)		(1,930	)		(7.2	)
R&D		(4,334	)		(4,022	)		7.8			(3,945	)		9.9
Expected Credit Impairment gain (loss)		0			(0	)		-			63			(99.4	)
Net Other Operating Income & Expenses		362			230			57.7			1,252			(71.1	)
Operating Income		11,957			14,100			(15.2	)		12,423			(3.8	)

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