Hsinchu, Taiwan, August 9, 2024 – Sino-American Silicon Products Inc. (SAS) board approved its financial statements for the second quarter 2024 today with the consolidated revenue reached NT$19.90 billion with 1.0% QoQ and -2.1% YoY; gross profit margin of 32%; operating profit margin of 21.8%; net income of NT$3.54 billion with -10.5% QoQ and -25.1% YoY; net income margin of 17.8%; net income attributed to the parent company of NT$1.65 billion with -13.4% QoQ and -32.3% YoY; net income attributed to the parent company margin of 8.3%; and EPS of NT$2.94. SAS’ semiconductor subsidiary, GlobalWafers (GWC) also concluded its second quarter with the consolidated revenue of NT$15.33 billion; gross profit margin of 32.3%; operating profit margin of 22%; net profit of NT$2.88 billion and net profit margin of 18.8%; EPS of NT$6.02.

 

Regarding the first half of 2024 consolidated financial results, SAS cumulative consolidated revenue totaled NTD$39.59 billion with -4% YoY; gross profit margin of 31.7%; operating profit margin of 22%; net profit of 7.5 billion with
-20.6% YoY; net profit margin of 18.9%; net income attributed to the parent company of 3.55 billion with -27.6% YoY; net income attributed to the parent company margin of 9%; EPS of NT$6.35. SAS’ semiconductor subsidiary, GlobalWafers cumulative consolidated revenue in the first half of 2024 achieved NTD$30.41 billion with -16.7% YoY; gross profit margin of 33.3%; operating profit margin of 24.1%; net profit of NT$6.41 billion with -34.5% YoY; net profit margin of 21.1%; EPS of NT$14.04. SAS’s consolidated revenue, net profit, and EPS achieved the second-highest level on record in the first half of 2024.

 

In terms of renewable energy outlook, to achieve the net-zero carbon emissions target by 2050, the global demand for renewable energy capacity installation has doubled, accelerating investments in clean energy technologies and infrastructure in countries around the world. Meanwhile, decarbonization has become a long-term and necessary mission for enterprises, with an increasing number of multinational corporations pledging to use 100% renewable energy. Furthermore, to realize Taiwan’s renewable energy targets, ensuring stable power purchase agreements is essential, which creates unprecedented growth opportunities in the renewable energy trading market. SAS has identified the green energy market as a prime growth opportunity and has strategically expanded its business to encompass power plants and integrated green energy sales, complementing its existing solar cell and module offerings. SAS’s subsidiary, Sustainable Energy Solution Co., Ltd. (SES), specializes in renewable energy development. SES purchases and sells a diverse portfolio of renewable energy and RECs (renewable energy certificates), encompassing solar, wind, and hydropower. Leveraging the Group’s extensive experience and resources in the renewable energy industry, SES facilitates enterprises in formulating their green energy roadmap and fulfilling their renewable energy commitments amid the global sustainability transition. In the renewable energy sector, SAS has shifted its focus to profitable sustainability, evolving from a pure manufacturer to an integrated renewable energy total solutions provider.

 

SAS has successfully transformed and obtained significant achievement in diversifying its investment portfolio, expanding into semiconductors, automotive components, and renewable energy. In the semiconductor and automotive components sectors, SAS builds a competitive industry chain layout by forming strategic alliances with upstream and downstream players and continues to drive group growth with its international resources and semiconductor sales network. SAS group’s affiliates Actron Technology Corporation (Actron), Advanced Wireless Semiconductor Company (AWSC), and Taiwan Speciality Chemicals Corporation (TSC), demonstrated robust operational performance throughout the first six months of 2024. With three consecutive years of revenue growth, Actron recorded a revenue of NT$3.68 billion in the first half of 2024, representing a 53% YoY increase. By the end of Q2 this year, AWSC has maintained its upward momentum for five consecutive quarters, with its first-half 2024 revenue nearly doubling to NT$2.59 billion, not only approaching the full-year level of the previous year but also posting a YoY growth rate of nearly 200%. TSC, gearing up for its IPO, impressively boosted its revenue to over NT$400 million in the first half of 2024, marking a nearly 100% YoY increase. With a ten-year track record of being among the top 5% of TPEx-listed companies in corporate governance evaluations, SAS has implemented corporate governance with excellence. Leveraging its global footprints, SAS will drive continuous growth among its affiliated companies.