SAS’ semiconductor subsidiary, GlobalWafers (GWC, 6488: TT), also released its March results today that the consolidated revenue reached NT$5.45 billion with 23.8 % MoM and 0.1% YoY. GWC Q126 consolidated revenue totaled NT$13.98 billion, with -3.6 % QoQ and -10.3 % YoY.

GlobalWafers’ revenue for the first quarter of 2026 declined compared to the previous period, primarily due to fewer working days during the Lunar New Year holiday, as well as temporary disruptions caused by extreme cold weather and snowstorms in parts of Europe, the United States, and Northeast Asia, which constrained operations at certain overseas facilities. These impacts were seasonal and temporary. As weather conditions improved, all sites have resumed normal operations, with utilization and shipment momentum gradually stabilizing. As short-term disruptions subside, underlying operating fundamentals have gradually recovered. In addition to ongoing pilot production and customer qualifications for newly added capacity, existing 12-inch wafer lines remain fully loaded. Utilization for small- and medium-sized wafers has also improved compared to the previous quarter, indicating initial signs of demand recovery. However, the extent to which this improvement will translate into a broader and sustained market recovery remains to be seen observation. Meanwhile, the first tranche of government subsidies for the GlobalWafers’ Italian subsidiary was received in the first quarter, and will help strengthen the overall financial structure. Overall, after reaching a relatively low point in the first quarter, operating momentum shows a gradual but uneven upward trend. Nevertheless, future performance remains subject to uncertainties, including macroeconomic environment, geopolitical risks, and industry conditions. GlobalWafers will continue to adopt a proactive and prudent approach in responding to market conditions.

SAS reported a slight YoY increase in consolidated revenue for Q126. Driven by its dual-track strategy across manufacturing and services, the renewable energy business delivered outstanding performance, with its revenue in Q126 increasing 75.5% YoY, demonstrating strong growth momentum. On the solar technology front, SAS continues to expand into high-barrier niche applications, including space-related applications such as low Earth orbit (LEO) satellites, where demand for highly reliable solar products is expected to remain strong. These developments also present opportunities for the Company to further expand into higher value-added markets. In green energy services, SAS’s subsidiary Susen Green Energy (SGE) has established a one-stop green energy solutions platform integrating diversified energy and management services to support corporate decarbonization and energy transition. As of the end of the first quarter, SGE’s power trading subsidiaries, SES and Anneal, have secured cumulative green power contracts of nearly 22 billion kWh. This segment is expected to become a key growth driver for the Group’s renewable energy business. Among affiliated companies, Taiwan Specialty Chemicals Corporation (TSC, 4772:TT) reported first-quarter consolidated revenue of NT$0.86 billion, representing a YoY increase of 290%, driven by rising demand for disilane supported by AI applications. Its anhydrous hydrogen fluoride (AHF) products have also entered major customer supply chains and are gradually ramping up, and are expected to contribute to overall performance this year. Advanced Wireless Semiconductor Company (AWSC, 8086:TT) recorded first-quarter revenue of NT$1.22 billion, up 58.4% YoY. Building on its stable power amplifier (PA) business, AWSC continues to diversify its product and application portfolio, expanding into non-RF applications such as drones, LEO satellites, and high-altitude platform systems (HAPS), enhancing operational flexibility. Actron Technology Corporation (Actron, 8255:TT) reported first-quarter revenue of NT$2.04 billion, representing a YoY decrease of 3.7%. In addition to strengthening its automotive business, Actron is expanding into AI server power, energy systems, and electric vehicle power devices, leveraging SiC and GaN technologies to enter the high-efficiency power market. With steady progress across its business segments, the SAS Group will continue to leverage renewable energy, automotive components, and semiconductors as its three key growth engines, integrating Group resources and diversified operations to enhance competitiveness and long-term value.

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The ratings on SAS continue to reflect the company’s steady market position, globally diversified production bases, and its good profitability backed by stable utilization and long-term supply agreements with key clients. The company’s weaker market position and technology capabilities in the advanced silicon wafer applications than larger global peers partly offset these rating strengths.

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Today the Board of Directors also approved the cash dividend payment plan for the second half of 2025 and resolved to distribute a cash dividend of NT$2.5 per share, with a total amount of NT$ 1.6 billion for the second half of 2025. The ex-dividend record date is July 29, and the cash dividend payment date is August 21. If the cash dividend of NT$1 per share (total amount of NT$0.64 billion) distributed from capital surplus in the first half is included, an annual cash dividend of NT$ 3.5 per share (total annual amount of NT$ 2.24 billion) is distributed throughout 2025. Besides, SAS’ Annual General Shareholders’ Meeting will be convened at 9 a.m. on May 26 at the Hsinchu Science Park Life Hub, Taiwan.

SAS’s affiliated companies delivered strong operating performance in 2025, with several achieving record-high revenues. Their results underscore solid growth momentum and competitive strengths across materials, components, and key application segments, while effectively capturing opportunities arising from industry upgrades. Taiwan Specialty Chemicals Corporation (TSC, 4772:TT) benefited from increasing demand for high-purity specialty gases driven by volume production of advanced semiconductor processes. Through the consolidation of Hung Jie Technology, a next-generation semiconductor component cleaning and refurbishment service provider, TSC has established a one-stop “materials + services” platform. TSC reported full-year 2025 consolidated revenue of NT$1.99 billion, representing a 127.9% YoY increase and a record high; EPS was NT$4.2. Actron Technology Corporation (Actron, 8255:TT), in addition to strengthening its established automotive business, actively expanded into high-growth applications such as power supply units (PSUs) and AI server racks. Actron recorded full-year 2025 revenue of NT$8.11 billion, up 6.9% YoY and reaching a record high; EPS was NT$6.32. Advanced Wireless Semiconductor Company (AWSC, 8086:TT), supported by stable demand in its smartphone power amplifier (PA) business, further diversified into non-PA applications including AI, unmanned aerial vehicles (UAVs), and low Earth orbit (LEO) satellites. AWSC reported full-year 2025 revenue of NT$4.12 billion; EPS was NT$3.36.

According to the Renewables 2025 report by IEA, global renewable energy capacity is projected to increase by approximately 4,605 GW between 2025 and 2030, twice the additions recorded during 2019–2024. Solar power is expected to account for nearly 80% of the total expansion, serving as the primary driver of the global energy transition. Against the backdrop of the global energy transition and rapid growth in solar PV installations, Taiwan has also implemented regulations to accelerate rooftop solar PV deployment. Under the Ministry of the Interior’s “Standards for Setting up Solar Photovoltaic Power Generation Equipment in Buildings,” private buildings with newly constructed or expanded floor areas exceeding 1,000 square meters, or with renovated rooftop areas exceeding 1,000 square meters, are required to install solar PV power generation equipment. The policy is estimated to add approximately 660 MW of new installed capacity annually, equivalent to the yearly electricity consumption of around 200,000 households.

Against this backdrop, SAS provides customized solar solutions to module manufacturers in Taiwan. In terms of core technology, SAS’s solar cells have achieved a conversion efficiency of 26.0% and have obtained Verified Product Certificate (VPC) validation. SAS has also been recognized multiple times with the Taiwan “Golden Energy Award” for solar wafers, reflecting strong market recognition of its product quality and technological capabilities. Amid the long-term global trends of energy transition and technological advancement, SAS continues to optimize its product portfolio and market positioning, strategically focusing on high-barrier niche segments. The Company has gradually demonstrated growth momentum in space technology applications and the international solar market. In the space technology sector, applications demand exceptional material reliability, durability, and performance stability. The high entry barriers and extended customer validation cycles create clear technological differentiation. Leveraging its advanced process capabilities and stable product quality, SAS has successfully passed the stringent reliability testing required for low Earth orbit (LEO) satellite applications. Related products are currently undergoing end-application validation with customers, with commercialization progressing and successful expansion into overseas markets.

In the renewable energy services sector, rising decarbonization requirements across global supply chains, the implementation of carbon border mechanisms such as the Carbon Border Adjustment Mechanism (CBAM), and the promotion of RE100 commitments and Taiwan’s “High Electricity User Clause,” are accelerating the transformation of corporate electricity structures. Energy transition has become a decisive factor in determining corporate ESG performance, green supply chain eligibility, and long-term competitiveness. SAS’s comprehensive renewable energy service platform, Susen Green Energy Co., Ltd. (SGE), has established an integrated service framework encompassing power generation, power sales, energy storage, and energy efficiency solutions. Through a one-stop approach, SGE assists enterprises in planning and executing their net-zero transition pathways and has entered into multiple long-term green power supply agreements with corporate clients. According to publicly disclosed monthly statistics released by industry peers, SGE’s power trading subsidiaries, Sustainable Energy Solution (SES) and Anneal Energy (Anneal), ranked among the leading market participants in terms of green power sales volume in 2025. This performance indicates that SGE’s renewable energy services platform has entered an accelerated growth phase and continues to expand its market influence amid the corporate energy transition trend. In addition, SGE has expanded into the energy service company (ESCO) sector, further strengthening the Group’s capabilities in energy management and efficiency enhancement. Its subsidiary, EcoSoar Energy Service Co., Ltd (EES), recently achieved notable results by assisting clients in applying for incentive programs administered by Taiwan’s Energy Administration. The implemented energy efficiency projects are expected to generate annual energy cost savings of approximately NT$13.73 million for clients. Through systematic efficiency improvements and the replacement of high-energy-consuming equipment, SGE helps accelerate customers’ practical progress toward net-zero transition, while assisting clients in applying for relevant energy efficiency subsidies to reduce capital expenditure and shorten payback periods.

SAS continues to promote resource integration and leverage group synergies. Through strategic investments and business expansion, the Company is strengthening its ecosystems across the three major sectors of semiconductors, automotive electronic components, and renewable energy. In the semiconductor segment, its subsidiary GlobalWafers has benefited from rising AI-driven demand, supported by its advanced process capacity deployment and an optimized product portfolio, the company is well positioned to sustain mid- to long-term operational momentum. The Group’s affiliated companies, including TSC, AWSC, and Actron have also demonstrated growth momentum and technological strengths in their respective fields, adding long-term drivers to the Group’s overall development. Through upstream and downstream resource integration and global expansion, SAS has transformed into a multinational integrated group. Amid global supply chain restructuring and the energy transition, the Company continues to demonstrate stable growth momentum and strong industrial competitiveness.

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GlobalWafers operates across multiple overseas locations, and foreign-currency transactions account for a relatively high proportion of the Group’s revenue. Measured in U.S. dollar terms, GlobalWafers’ revenue performance in 2025 remained solid. For FY2025, consolidated revenue denominated in U.S. dollars amounted to US$1.95 billion, remaining almost flat year over year. SAS’s revenue was also affected by the performance of its subsidiary GlobalWafers. When measured in U.S. dollar terms, SAS’s cumulative FY2025 revenue reached US$2.51 billion, reflecting a YoY increase of 1.24%. The changes in consolidated revenue measured in U.S. dollars indicate that the underlying operating performance of both SAS and GlobalWafers remained stable.

Amid easing inflationary pressures and policy adjustments by certain central banks, the global economy has maintained moderate growth. Nevertheless, geopolitical tensions and uncertainties surrounding trade policies continue to pose challenges to the market. The semiconductor industry is experiencing divergent demand dynamics and an uneven recovery pace. Inventory digestion for applications related to mature process technologies has progressed more slowly than expected, while the recovery momentum in end-consumer markets remains limited. Against this backdrop, GlobalWafers has continued to strengthen its operational resilience. Leveraging its global footprint and localized manufacturing capabilities, the Company has flexibly optimized capacity allocation and shipment mix, while accelerating customer qualification and ramp-up for new expansion lines to proactively address customers’ long-term demand for localized supply. As the Company’s global expansion projects gradually deliver tangible results, several key operating sites and product lines have reported strong revenue performance. In particular, the 2025 revenues of subsidiaries in Niigata and Utsunomiya, Japan, as well as the Danish subsidiary, all reached record highs. From a product perspective, niche products such as Gallium Nitride (GaN) demonstrated especially strong performance.

Looking ahead, the accelerated development of technologies including AI, HPC (high-performance computing), silicon photonics, and high-efficiency power management is expected to continue driving demand for high-efficiency power devices and advanced materials. Demand for leading-edge silicon wafers and SOI wafers remain robust, while GaN capacity will continue to operate at full utilization. In the new materials segment, GlobalWafers is steadily advancing its technology and process roadmap, with ongoing investments in the research and development of next-generation materials such as square wafers and 12-inch Silicon Carbide (SiC). Sampling have commenced, and related technologies are being progressively advanced to address growing market interest and demand. GlobalWafers will remain focused on large-diameter wafers for advanced applications, and high value-added specialty wafer segments. By combining localized supply advantages across its global manufacturing network with advanced process capabilities, the Company aims to leverage its diversified portfolio and competitive strengths to drive sustainable long-term growth.

In the solar product manufacturing segment, it is expected that total solar installations in the United States will reach 40~42 GW in 2026. Driven by trade controls as well as anti-dumping and countervailing duty measures, the solar wafer market is undersupplied, further highlighting the advantages of Taiwan-based compliant manufacturing, high product quality, and strong reliability. In addition, with the rapid growth of global 5G communications, data and video transmission, and VR-based immersive applications, demand for low Earth orbit (LEO) satellites is expected to experience a significant surge in 2026. Against this backdrop, solar cell products manufactured by SAS in Taiwan, having passed stringent reliability testing and qualified by U.S.-based customers, are steadily expanding their international market presence and capturing emerging growth opportunities.

In the renewable energy services segment, as the 2050 net-zero emissions policy continues to advance, enterprises are accelerating their net-zero transition and committing to the Science Based Targets initiative (SBTi). The combined momentum from policy initiatives and corporate action has driven sustained growth in demand for renewable energy. In response to industry trends, SAS has continued to deepen its green energy business deployment. Through its comprehensive renewable energy service platform, Susen Green Energy Co., Ltd. (SGE), the Group has progressively established an integrated service framework encompassing green power development, power sales, energy storage, and energy efficiency solutions, addressing enterprises’ practical needs in their net-zero transition. As of the end of December 2025, SGE had cumulatively signed green power purchase agreements exceeding 18 billion kWh. With market demand continuing to expand, SGE’s power trading subsidiaries, Sustainable Energy Solution (SES) and Anneal Energy (Anneal), recorded combined revenue growth of approximately sevenfold in 2025 compared with the previous year. Looking ahead, operating momentum is expected to be released progressively in line with further market expansion. Supported by strong market demand, the Group’s green power services business has demonstrated0 strong growth momentum, further enhancing its market visibility and influence.

Among affiliated companies, Actron Technology Corporation (8255:TT) has strengthened its presence in automotive electronics while expanding into AI server power supply and energy-related applications, driving steady operational growth. Actron’s 2025 revenue amounted to NT$ 8.1 billion, a 6.9% year-over-year increase, reaching a historical high. Advanced Wireless Semiconductor Company (8086:TT) has seen tangible results from its diversified application portfolio across high-speed wireless communication (Datacom) chips, LiDAR, filters, and unmanned aerial vehicle (UAV) applications. Its revenue increased month by month throughout 2025, with full-year revenue reaching NT$ 4.12 billion, marking the second highest level in the Company’s history.

Taiwan Specialty Chemicals Corporation (4772:TT) benefited from rising demand for disilane (Si₂H₆) driven by advanced process technologies, delivering strong operating performance. TSC’s 2025 standalone revenue, excluding the consolidation of Hung Jie Technology, increased by 20% YoY, with Q4 2025 standalone revenue setting a new quarterly record. December standalone revenue reached a historical high, marking 11 consecutive months of YoY revenue growth. TSC’s consolidated revenue, including Hung Jie Technology, in December exceeded NT$300 million for the first time, delivering outstanding results! Following the addition of Hong Jie Technology, TSC further strengthens its one-stop solution capabilities, spanning specialty gases, precision surface processing of equipment components, and ultra-high purity cleaning and refurbishment services. This expanded service scope enhances coverage of advanced process requirements. After consolidating Hung Jie Technology, TSC’s full-year 2025 consolidated revenue reached NT$ 2 billion, up 128% YoY, driving overall operating scale to a new high.

Looking ahead, SAS will continue to position renewable energy and semiconductors as its dual growth engines. Leveraging deep industry expertise and technical capabilities, the Group will pursue disciplined investment deployment, integrate the diversified growth momentum of affiliated companies, and fully realize group synergies. Through the progressive construction of a competitive industrial value chain, SAS aims to steadily advance the Group’s sustainable growth.

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SAS and GWC provide comprehensive employee assistance and care mechanisms to ensure that colleagues receive professional support when facing emotional stress, family issues, or career challenges. Through training and open communication, SAS and GWC foster a culture of respect where every employee, regardless of background, can work in an environment built on equality and trust. In addition, the companies maintain clear and accessible grievance and communication channels, upholding a strict zero tolerance stance to safeguard workplace safety.

In terms of health management, SAS and GWC offer annual medical examinations, specialized screenings, and follow-up services, while organizing health seminars, first-aid training, and fitness initiatives based on employee needs. These efforts help employees build steady and healthy daily habits. The “7,000 Steps a Day” initiative, which combines wellness and community engagement, further transforms each step taken by employees into positive energy that contributes both to personal health and to society.

For employees who are pregnant or raising young children, the companies have established a comprehensive maternal health protection process that includes hazard assessments, physician consultations, flexible work hours, and health education. Supportive measures such as lactation rooms, maternity care kits, and designated parking spaces provide additional comfort and assurance throughout the journey of welcoming a new life.

SAS and GWC remain committed to creating workplaces where employees feel protected and valued. A friendly workplace is not a final destination but a continuous effort. Moving forward, the two companies will continue strengthening their actions in four key areas: health promotion, family care, equality awareness, and workplace safety. These efforts aim to ensure that every employee can work in an environment defined by stability, respect, and genuine support.

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Committed to Creating a Safe, Inclusive, and Supportive Work Environment first appeared on Sino-American Silicon Products Inc..

In recent years, the frequency and intensity of extreme weather events worldwide have continued to rise, including heavy rainfall, heat waves and droughts. This has reinforced the fact that climate risk is now a critical challenge faced by both governments and businesses. In alignment with global decarbonization pathways, the Taiwan government has released its updated 2035 Nationally Determined Contribution (NDC 3.0). Using 2005 as the base year, Taiwan has set core targets to reduce carbon emissions by 28% ±2% by 2030 and 38% ±2% by 2035, reaffirming its commitment to achieving net-zero emissions by 2050. Driven by policy advancement and the growing focus on sustainable supply chains, Taiwanese companies are rapidly accelerating their adoption of science-based carbon reduction strategies. As of the end of October 2025, 182 Taiwan-based enterprises have joined the Science Based Targets initiative (SBTi). To meet increasingly stringent requirements for emission reductions and net-zero transitions, demand for renewable energy is expected to continue rising, further driving the procurement of renewable energy and the acceleration of low-carbon transformation across industries.

To support businesses in implementing effective decarbonization pathways, SAS operates a comprehensive renewable energy service platform through its subsidiary Susen Green Energy (SGE), which has become a key enabler of corporate energy transition in Taiwan. By coordinating with SAS’s own renewable electricity needs and leveraging their strong creditworthiness and reliable contract performance, together with its expertise in power plant integration and diversified renewable energy supply, SGE has established a full-service green power solution and dispatching system. Its competitive strengths are clearly reflected in market performance. As of the end of October 2025, SGE has accumulated over 18 billion kWh of renewable energy purchase agreements. Through close collaboration between its subsidiaries, including Sustainable Energy Solution (SES) and Anneal Energy (Anneal), SGE integrates nearly 1,700 power plants with a combined solar installed capacity exceeding 800 MW, enabling a stable annual supply of nearly 700 million kWh of green electricity to corporate customers. SGE’s consolidated revenue for 2025 is projected to increase by nearly seven times compared with last year, and revenue is expected to continue growing year by year, demonstrating strong business momentum and rapidly expanding market influence.

Looking ahead, SAS will continue to leverage its extensive manufacturing expertise and frontline industry insights as a solid foundation for advancing its green energy service business. In response to the common challenges faced by the manufacturing sector during the net-zero transition, including limited access to green electricity, price volatility, and constraints in supply stability and dispatch flexibility, SAS is developing a comprehensive solution through its renewable energy subsidiary, SGE. By providing an integrated service framework spanning renewable energy procurement, power plant operations and maintenance, green power dispatching, and energy management, SGE supports enterprises to advance their low-carbon transition under increasingly stringent sustainability requirements. At the same time, the Group’s strategic investments in the semiconductor industry enable SAS to remain closely aligned with the demands of advanced manufacturing processes and supply chains. This further enhances the industry insights and collaborative depth of its green energy and smart energy services. With renewable energy and semiconductors serving as dual growth engines, SAS will continue to unlock group synergies, advance global expansion and technological upgrades, and steadily drive long-term growth and value creation for the Group.

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Renewables Sector Posts Strong Growth,
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SAS focuses on two major pillars as its decarbonization roadmap: energy efficiency improvements and renewable energy adoption. On energy efficiency, SAS has completed upgrades to lighting systems, optimized cooling water temperatures, and replaced aging and high-energy-consuming equipment such as motors, cooling tower fans, and thermal insulation materials to further strengthen overall energy efficiency. The company will next introduce high-efficiency chiller systems and upgrade its Energy Management System (EMS), which are expected to reduce chiller energy consumption by another 30%. Air compressor systems will also be reconfigured, targeting an additional 15% reduction in energy losses, thereby improving overall energy performance.

To meet SBTi’s stringent requirements, SAS is strengthening its decarbonization roadmap and accelerating the deployment of renewable energy. Through diversified investments and green power purchasing strategies, SAS aims to strengthen the group’s overall flexibility and resilience in renewable energy dispatch and supply. Leveraging the group’s long-standing expertise in the renewable energy sector, SAS has adopted a diversified Green Power Purchase Agreement (PPA) strategy, advancing solar and offshore wind procurement in parallel to steadily increase the share of renewable electricity consumption. SAS initiated its solar PPA program in 2024, and together with its renewable energy development subsidiary, Sustainable Energy Solution (SES), has entered into a joint offshore wind procurement agreement with Copenhagen Infrastructure Partners (CIP). Supported by both solar and wind resources, SAS plans for the proportion of renewable energy usage to rise progressively, with a long-term commitment to achieving 100% renewable energy (RE100) by 2050. Looking ahead, SAS will adjust PPA procurement volumes in line with operational needs, while continuing to monitor emerging energy sources, and exploring partnership opportunities with energy suppliers. For the final stretch toward net-zero emissions, SAS plans to close any remaining gaps through Renewable Energy Certificates (RECs) and carbon credit purchases.

For Scope 3 emissions reduction, SAS is actively collaborating with its supply chain. Through supplier engagement mechanisms and incorporating carbon management performance into supplier evaluations, SAS is scaling up its Scope 3 emission reduction impact. Moving forward, SAS will continue supporting supply chain partners in their low-carbon transition and work together to achieve science-based reduction goals.

Doris Hsu, Chairperson of SAS, stated:“SAS’ emission-reduction targets have been validated by the Science Based Targets initiative (SBTi), signifying that our decarbonization pathway is now fully aligned with the scientific benchmark for limiting global warming to 1.5°C. This marks an important milestone in our journey toward net-zero transition. SAS will continue strengthening its low-carbon competitiveness through low-carbon manufacturing, enhanced energy efficiency, and circular resource utilization. At the same time, we are leveraging the Group’s strategic presence in renewable energy development and power retailing. Through our subsidiary, Susen Green Energy (SGE), we provide comprehensive green energy service solutions to our customers and supply chain partners. In facing the challenges of Scope 3 emissions, SAS will work closely with value-chain partners to enhance carbon inventory and reduction practices, ensuring that every kilowatt-hour of energy and every product moves toward a lower-carbon and more sustainable future. Guided by the principles of providing energy that is Safe, Affordable, and Sustainable, SAS remains committed to advancing our sustainability vision through concrete actions. We aim to be a trusted green partner for our employees, customers, and society, and to help build a more resilient net-zero future.”

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Since 2022, Sino-American Silicon Products Inc. has participated in the Golden Energy Award for four consecutive years and has won the award each year. This demonstrates that the solar cells produced by SAS not only deliver excellent high conversion efficiency but also feature outstanding reliability. Moving forward, SAS will continue to support the government’s energy transition policies, enhance product specifications, and align with the global solar industry.

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Regarding the first three quarters of 2025 consolidated financial results, SAS cumulative consolidated revenue totaled NTD$58.69 billion with -1.7% YoY; gross profit margin of 23.9%; operating profit margin of 12.7%; net profit of NTD$ 6.05 billion; net profit margin of 10.3%; net income attributed to the parent company of NTD$ 2.50 billion; net income attributed to the parent company margin of 4.3%; EPS of NT$4.07. SAS’ semiconductor subsidiary, GlobalWafers cumulative consolidated revenue in the first three quarters of 2025 achieved NTD$46.10 billion with -0.4% YoY; gross profit margin of23.6%; operating profit margin of 13.6%; net profit of NT$5.11 billion; net profit margin of 11.1%; EPS of NT$10.68.

Since the beginning of the year, the New Taiwan dollar (NTD) has experienced significant fluctuations against the U.S. dollar (USD). The currency appreciated notably in the first half of the year before gradually weakening after August, continuing to exert pressure on revenue reported in NTD terms. In U.S. dollar terms, SAS reported consolidated revenue of USD 0.64 billion for the Q3 2025, representing a 2.0% QoQ decline and a 3.1% YoY increase. However, when translated into NTD, revenue showed a decline, reflecting the impact of currency appreciation on the reported figures. For the first three quarters of 2025, cumulative consolidated revenue reached USD 1.88 billion, up 1.1% YoY. In contrast, revenue in NTD terms recorded a slight 1.7% decrease. Overall, the appreciation of the NTD has had a noticeable effect on reported revenue, while operational performance in U.S. dollar terms remained stable.

Under the U.S. Inflation Reduction Act (IRA) and related origin-tracing policies, manufacturing traceability has become a key focus in the global solar market. As rules governing country-of-origin determination and import tariffs grow increasingly stringent, the U.S. has resumed anti-dumping and countervailing duty measures on solar products rerouted through third countries. This has further heightened market attention to supply chain transparency and post-sale warranty support. Against this backdrop, Taiwan’s solar module manufacturers holding Verified Product Certificate (VPC) are expected to benefit from a new wave of demand in the U.S. market. Leveraging its extensive renewable energy experience and strong manufacturing expertise, SAS is actively expanding its international footprint. Its solar cell products have successfully passed overseas customer validation and are expected to increase shipments steadily.

In the renewable energy sector, Taiwanese enterprises are demonstrating strong demand for green power, which has become a crucial driver of their sustainability transformation. In response, the SAS Group continues to strengthen its comprehensive green service platform, taking concrete actions to expand its renewable energy footprint. Its one-stop renewable energy service platform, Susen Green Energy Co., Ltd. (SGE), recently achieved another milestone. SGE’s subsidiary, Sustainable Energy Solution (SES), signed a 10-year renewable power purchase agreement (PPA) with Amkor Technology, a leading global semiconductor packaging and testing company, totaling 780 million kWh of solar power to be supplied starting in 2026. This collaboration marks a new chapter in corporate renewable energy partnerships. As of the end of September, SGE has accumulated more than 18 billion kWh in total contracted green power. SES and Anneal Energy (Anneal), SGE’s subsidiaries specializing in green power trading, have integrated over 1,500 solar power plants with a combined installed capacity of approximately 680 MW, enabling the stable annual supply of nearly 700 million kWh of green electricity to corporate clients. In 2025 alone, SES and Anneal assisted their customers in securing over 120,000 Renewable Energy Certificates (RECs), further supporting enterprises in advancing toward their RE100 targets.

Among affiliated companies, Taiwan Specialty Chemicals Corporation (TSC, 4772:TT) acquired a 65.22% stake in Hung Jie Technology Corporation (Hung Jie, unlisted) and consolidated it into its financial statements from August. The acquisition marks TSC’s strategic expansion into Ultra-High Purity (UHP) cleaning and refurbishment of equipment components for the semiconductor industry. TSC reported Q3 revenue of NT$640 million, a nearly 200% increase year over year, with cumulative revenue for the first three quarters reaching NT$1.12 billion, representing a significant YoY increase of 81.35%, and EPS of NT$2.69. Advanced Wireless Semiconductor Company (AWSC, 8086:TT), built on its established power amplifier (PA) business for mobile devices, has accelerated diversification into data communication (Datacom), optical sensing (VCSEL technology), automotive, drone and other emerging applications. AWSC posted Q3 revenue of NT$1.12 billion and cumulative first three quarters revenue of NT$2.86 billion, with EPS of NT$2.03. As of the end of October this year, AWSC’s revenue has grown for nine consecutive months. Actron Technology Corporation (Actron, 8255:TT) continued advancing the development and customer validation of next-generation MOSFETs, recording Q3 revenue of NT$1.99 billion and cumulative first three quarters revenue of NT$6.27 billion, up 10.7% YoY, with EPS of NT$4.64.

Looking ahead, SAS will continue to drive growth under its dual engines of renewable energy and semiconductors, leveraging group synergies to accelerate global expansion and technology advancement. Backed by a solid industrial foundation and forward-looking strategy, SAS remains committed to cultivating new growth momentum and steadily enhancing long-term value for the Group.

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