May 9, 2025 – Sino-American Silicon Products Inc. (SAS) today (5/9) held the Board meeting and approved Q1 2025 earnings results. Q1 2025 consolidated revenue totaled NT$19.37 billion with YoY -1.6%; gross profit of NT$5.07 billion, gross profit margin of 26.2%, with YoY -5.3%; operating income of NT$2.93 billion, operating income margin of 15.1%, with YoY -7.0%; net income of NT$1.80 billion, net income margin of 9.3%; net income attributed to the parent company NT$0.73 billion, net income attributed to the parent company margin of 3.8%; EPS of NT$1.19. Its semiconductor subsidiary, GlobalWafers (GWC), Q1 2025 consolidated revenue totaled NT$15.59 billion, gross profit of NT$4.11 billion, operating income of NT$2.59 billion, net income of NT$1.46 billion, EPS of NT$3.05. The year-over-year decline in SAS’s Q1 2025 financial performance was primarily due to GWC’s global expansion and short-term mark-to-market valuation changes in its holdings of Siltronic AG (“Siltronic”) shares, resulting in a temporary impact on results. If excluding the impact of GlobalWafers’ expansion, and the aforementioned non-operating and non-cash flow related valuation adjustments, SAS’s Q1 2025 gross profit margin would have been 30.8 %, net profit margin 19.3 %, and EPS NT$2.54, and GlobalWafers’ Q1 2025 gross profit margin would have been 32.1%, net profit margin 21.9%, as EPS would have amounted to NT$6.94.
SAS’s diversified strategy continues to support Group-wide revenue performance. In Q1 2025, affiliated companies reported the following results: Actron Technology Corporation (Actron, 8255:TT) revenue totaled NT$2.12 billion, EPS of NT$2.32. Advanced Wireless Semiconductor Company (AWSC, 8086:TT) revenue totaled NT$0.77 billion, EPS of NT$0.42. Taiwan Speciality Chemicals Corporation (TSC, 4772:TT) revenue totaled NT$0.22 billion, EPS of NT$0.7.
In the realm of renewable energy, the United States is set to impose anti-dumping and anti-subsidy tariffs on solar products from four Southeast Asian countries in June this year. Considering Taiwan’s currently lower provisional tariffs, it is anticipated that some procurement demand will shift towards Taiwanese suppliers. SAS’s solar product orders are expected to increase accordingly, further bolstering revenue and profitability. SAS’s Board of Directors has approved several key initiatives, encompassing participation in a green energy fund, and an organizational optimization plan. These initiatives underscore SAS’s continued efforts to expand and deepen its strategic presence in the renewable energy sector.
Investment in AS Green Fund 1 to Deepen Green Energy Asset Portfolio
SAS plans to invest NT$400 million to participate in the ” AS Green Fund 1,” initiated by AB Value Capital Partners, aiming to hold 200MW of renewable energy project sites. The future engineering, construction, operation and maintenance of these sites will be undertaken by Hsu-Hsin Branch, a branch of the SAS Group specializing in power plant operations, which will help expand its business scale. The green power supply will be handled by Sustainable Energy Solution Co., Ltd. (SES), a green energy development and trading subsidiary under the SAS group, further solidifying its market position in green power trading. This collaboration deepens the SAS Group’s integrated deployment in the green energy industry chain and strengthens its operational resilience and long-term growth momentum.
SAS Initiates Organizational Restructuring to Spin Off Solar Cell and Solar Power Plant Businesses, Aiming to Optimize Investment Portfolio and Enhance Operational Flexibility
In response to the continued expansion of the Group’s businesses scale, the SAS Board of Directors also approved an organizational restructuring plan. Under this plan, the operations of the Solar Cell Division and the Solar Power Plant Division will be spun off and transferred to its two wholly owned subsidiaries – Sustainable Sunrise Co., Ltd. and Sunrise PV Three Co., Ltd. By professionally dividing manufacturing and service operations, SAS aims to enhance the autonomy of business units and improve resource utilization efficiency, thereby optimizing the Group’s management model and increasing operational flexibility and overall effectiveness.
Through strategic investments in various aspects of the renewable energy sector and organizational adjustments, expanding resources and markets, SAS comprehensively deepens the Group’s deployment in the green energy industry chain, and enhances operational resilience and growth momentum.
The results of the 11th (2024) Corporate Governance Evaluation have been announced. SAS has been ranked among the top 5% of Taipei Exchange-listed companies for the eleventh consecutive year. Its subsidiary, GlobalWafers, and affiliated companies, Actron and AWSC, were also recognized among the top 5% in the same category. These honors underscore the Group’s excellence in corporate governance. SAS remains committed to continuously enhancing its governance practices and strengthening sustainable management performance, advancing toward the Group’s long-term vision of sustainable development.