Sino-American Silicon Products Inc. (SAS) (TPEX:5483) released its June results today, indicating that the consolidated revenue reached NT$6.8 billion, with +1.38% MoM and -5.21% YoY. Moving into Q224, SAS reported consolidated revenue of NT$19.9 billion, marking a +1.04% QoQ and -2.08% YoY. Examining SAS’s revenue performance for the first half of the year, cumulative consolidated revenue reached NT$39.6 billion, approaching the NT$40 billion milestone. This notable achievement underscores the gradual realization of synergies from its strategic positioning in critical sectors, significantly enhancing its competitive edge and growth potential across the overall business landscape.
SAS’ semiconductor subsidiary, GlobalWafers (GWC), also released its June results today. The consolidated revenue reached NT$5.3 billion, marking a +2.66% MoM but a -15.32% YoY. In Q224, GWC’s consolidated revenue totaled NT$15.3 billion, showing a +1.58% QoQ yet a -14.36% YoY. Looking at the first half of 2024, the consolidated revenue amounted to NT$30.4 billion, reflecting a -16.71% YoY.
GWC encountered a recent cyberattack that disrupted production and shipment timelines at certain fabs. A small batch of products slated for June deliveries has been rescheduled for early Q3 shipment to mitigate the impact. Despite this setback, GWC’s Q2 revenue managed to notch a gain over Q1. The uneven recovery in end-user demand is resulting in varying levels of inventory adjustments among customers. Nevertheless, there is steady progress in inventory reabsorption, albeit at a more gradual pace than initially anticipated. Amidst the global AI boom, demand for high-bandwidth memory (HBM) has surged, driving a steady increase in semiconductor wafer consumption. Advanced process technologies and CoWoS 3D packaging are expected to continue fueling this growth. GWC maintains a cautiously optimistic outlook on future revenue growth, projecting a stronger performance in the second half of the current year compared to the first.
Regarding the green energy sector, buoyed by increased summer electricity demand and heightened interest in green energy driven by national energy policies and industry initiatives, SAS is optimistic about the prospects of the green energy market and is expanding its renewable energy portfolio. In addition to its solar cell, module, and power plant businesses, SAS is also committed to providing customers with a diversified range of low-carbon electricity, encompassing wind, hydropower, and solar energy. By integrating green energy sales to meet customer demands and providing comprehensive energy solutions, SAS is laying a solid energy foundation for its customers in the global sustainability wave.
SAS’s successful transformation and diversified investment strategy have yielded substantial rewards in recent years. The Group’s primary revenue streams have expanded beyond GWC’s semiconductor wafers to span a diverse range of product domains, including renewable energy, semiconductor automotive components, specialty gases, compound materials, and chemical materials. Subsidiaries like Taiwan Speciality Chemicals Corporation (TSC), Advanced Wireless Semiconductor Company (AWSC), and Actron Technology Corporation (Actron) continue to demonstrate strong growth. Actron (TPEX:8255), a leader in automotive power semiconductors, is capitalizing on both the continuous improvement of electric vehicles and the efforts to enhance the efficiency of combustion engine vehicles to strengthen competitiveness. Consequently, the strong sales of LLD (Low Leakage Diode) and ULLD (Ultra Low Leakage Diode), along with the inclusion of revenue from the wafer foundry Mosel Vitelic Inc., has propelled Actron’s first-half revenue to increase by 53% compared to the same period last year. AWSC (TPEX:8086), the world’s second-largest gallium arsenide (GaAs) wafer foundry, has already approaching its full-year 2023 revenue in the first half of 2024, with a YoY increase of nearly 200%. TSC (TPEX:4772), focusing on the research, development, production, and sales of specialty gas materials for semiconductors, is expected to list on Taipei Exchange in the second half of this year, having achieved a 96% revenue growth in the first half of 2024 compared to last year. Looking ahead, the SAS Group will continue to foster close collaboration with its affiliates in key sectors such as semiconductors, automotive components, and renewable energy to leverage synergies and deliver exceptional operational outcomes.