February 27, 2025 – Sino-American Silicon Products Inc. (SAS) today (2/27) held the Board meeting and approved 2024 financial results. SAS 2024 consolidated revenue totaled NT$79.68 billion with YoY -2.8%; gross profit of NT$24.27 billion, with YoY -9.0%, gross profit margin of 30.5%, with YoY -2.1%; operating income of NT$16.11 billion, with YoY -13.4%, operating income margin of 20.2%, with YoY -2.5%; net income of NT$11.61 billion, with YoY -34.7%, net income margin of 14.6%, with YoY -7.1%; net income attributed to the parent company NT$5.35 billion, with YoY -45.7%, net income attributed to the parent company margin of 6.7%; EPS of NT$9.24. Its semiconductor subsidiary, GlobalWafers (GWC), FY2024 revenue reached NT$62.63 billion, with YoY -11.4%; gross profit of NT$19.80 billion, gross profit margin of 31.6%; operating income of NT$14.12 billion, operating income margin of 22.5%; net income of NT$9.84 billion, net income margin of 15.7%; EPS of NT$21.06. The decline in SAS’ 2024 net profit and EPS compared with 2023 were mainly impacted by valuation changes of Siltronic AG shares held by its subsidiary, GlobalWafers, as well as the Exchangeable Units issued based on the holdings. If excluding the impact of the aforementioned non-operating and non-cash flow related valuation adjustments, SAS’ 2024 net profit margin would have been 19.15%, as EPS would have amounted to NT$12.29, and GlobalWafers’ 2024 pre-tax profit margin would have been 27.2%, as EPS would have amounted to NT$28.97.
Today the Board of Directors also approved the cash dividend payment plan for the second half of 2024 and resolved to distribute a cash dividend of NT$3.5 per share, with a total amount of NT$2.24 billion for the second half of 2024. If the cash dividend of NT$3 per share (total amount of NT$1.92 billion) distributed in the first half is included, an annual cash dividend of NT$6.5 per share (total annual amount of NT$4.17 billion) is distributed throughout 2024. The dividend payout ratio stands at an impressive 70%! Based on the closing price of 126 NT dollars on February 27, the dividend yield is 5%, rewarding shareholders who have long supported SAS. Besides, SAS’ Annual General Shareholders’ Meeting will be convened at 9 a.m. on May 27 at the Hsinchu Science Park Life Hub, Taiwan.
In 2024, Taiwan’s renewable energy industry faced challenges such as delays in project site approvals and low-cost competition from overseas imports. However, SAS strategically expanded its high-value downstream power plant operations and green energy sales within its vertically integrated energy supply value chain. This approach has been adopted to meet the ever-increasing demand for renewable energy from businesses in Taiwan. SES, a subsidiary specializing in green energy development, has demonstrated strong performance by securing multiple long-term power supply agreements with businesses. This success is driven by SAS, the parent company’s expertise in renewable energy, solid financial foundation, and deep partnership with a wide network of clients, positioning SES as a catalyst for the Group’s growth. Subsidiary GlobalWafers’ (GWC) holds a significant share of the Group’s revenue and continues to provide a stable contribution to overall earnings, while affiliated companies – Taiwan Speciality Chemicals Corporation (TSC) and Actron Technology Corporation (Actron) both recorded their highest-ever revenues and eps in 2024. TSC revenue totaled NT$0.9 billion with YoY 57.9%, EPS of NT$2.74 while Actron revenue totaled NT$7.6 billion with YoY 34.2%, EPS of NT$8.24. Meanwhile, Advanced Wireless Semiconductor Company (AWSC) revenue totaled NT$4.5 billion with YoY 63.6%, EPS of NT$2.65, achieving the second-highest revenue performance in its history. These affiliates’ strong overall performance has contributed to the steady development of the group.
In the realm of renewable energy, global clean energy technology investment is forecast to reach US$670 billion in 2025, surpassing upstream oil and gas spending for the first time, marking a major shift in energy priorities. Solar PV, wind power, and battery energy storage system (BESS) are the key drivers of this transformation. In Taiwan, National Climate Change Committee reaffirmed ambitious carbon reduction goals. By 2030 carbon emissions are expected to decrease by 28±2% compared to the baseline year of 2005. Additionally, solar PV capacity is projected to reach 31.2GW and offshore wind capacity to 10.9GW, equating to an average annual addition of 2.82GW and 1.17GW of renewable energy capacity, respectively, between 2025 and 2030, providing stable policy support for renewable energy demand. With streamlining process, stricter import policies, and rising corporate ESG commitments, Taiwan’s renewable energy market is poised for steady growth. SAS Group is actively involved in renewable energy development. Its subsidiary, SES, combines its own solar power plants with the development of diverse green energy sources to successfully provide Taiwanese businesses with a variety of green electricity services. SES has also become the first power retailer in Taiwan to sign an offshore wind corporate power purchase agreement (PPA). In 2024, SES ranked one of Taiwan’s top green power retailers, solidifying SAS’s position in the renewable energy sector and providing strong support for the energy transition of its semiconductor supply chain partners.
SAS has successfully transitioned from a renewable energy materials provider into a green energy total solution provider. Looking ahead, with the government’s clear carbon reduction targets and optimized policies, SAS will continue to leverage its diverse and flexible value chain strategy to seize growth opportunities. In the semiconductor sector, the subsidiary, GlobalWafers, with its strategic deployment of advanced process capacity, coupled with strong demand in the AI market, is driving continued business growth. Furthermore, affiliated companies within the group—TSC, AWSC, and Actron—are all experiencing steady growth and significant development potential for the future. Through alliances with upstream and downstream partners, SAS has built a competitive industry chain. By leveraging its international resources and semiconductor network, SAS continues to drive the group’s growth!