Hsinchu, Taiwan, November 8, 2024 – Sino-American Silicon Products Inc. (SAS) announced its third-quarter 2024 financial results today following a Board of Directors meeting. For Q3 2024, SAS achieved consolidated revenue of NT$20.12 billion, reflecting a QoQ increase of 1.1% and a YoY growth of 2.7%. The company posted a gross profit margin of 28.8% and an operating profit margin of 17.4%. Net income after tax stood at NT$3.16 billion, with a net profit margin of 15.7%. Net income after tax attributable to the parent company was NT$1.32 billion, and earnings per share (EPS) reached NT$2.35. SAS subsidiary GlobalWafers also reported third-quarter performance, recording consolidated revenue of NT$15.87 billion with a gross profit margin of 30.0% and an operating profit margin of 20.2%. Net income after tax was NT$2.95 billion, resulting in a net profit margin of 18.6%, and EPS after tax reached NT$6.18. This marks the second-highest Q3 revenue for SAS and the third-highest for GlobalWafers on record, continuing the revenue growth trend for both entities over the past two quarters.

 

For the cumulative period ending in September 2024, SAS reported total consolidated revenue of NT$59.71 billion, down 1.8% from the previous year. The year-to-date gross profit margin was 30.7%, with an operating profit margin of 20.4%. Net income after tax totaled NT$10.66 billion, with a net profit margin of 17.9%. Net income after tax attributable to the parent company was NT$4.87 billion, and earnings per share (EPS) reached NT$8.70. GlobalWafers’ year-to-date consolidated revenue reached NT$46.28 billion, with gross profits amounting to NT$14.89 billion, representing a gross profit margin of 32.2%. Operating income was NT$10.53 billion, with an operating profit margin of 22.8%. Net income after tax stood at NT$9.36 billion, yielding a net profit margin of 20.2% and EPS of NT$20.19. Both SAS and GlobalWafers posted the third-highest cumulative revenue levels in their respective histories.

 

In recent years, SAS has actively invested across both upstream and downstream sectors, diversifying into strategic industries. Among these investments, Taiwan Specialty Chemicals Corporation, a leading semiconductor specialty gas supplier and part of SAS’s portfolio, successfully listed on the main board of Taipei Exchange in Q3 this year. Taiwan Specialty Chemicals recorded quarterly revenue of NT$210 million, its second-highest in history, with year-to-date revenue increasing by 70.2% YoY.

 

In Q3, SAS successfully issued USD 284 million in Global Depositary Receipts (GDR), establishing a strong foundation for future expansion. The capital raised will reinforce SAS’s existing competitive edge while enabling further market exploration, enhancing its capabilities in identifying emerging opportunities within the industry. In the green energy sector, SAS is accelerating its expansion and has recently signed a share subscription agreement with Anneal Energy. Upon completion of the share purchase, SAS will hold a 45% stake in Anneal Energy, becoming its largest institutional shareholder. Previously, solar plants under 2,000 kW (Type 3) were limited to self-consumption, and selling green power required a lengthy application process. Recent adjustments to the Electricity Act now allow these plants to sell green energy directly to renewable energy resellers, who can then supply it to corporate customers. Anneal Energy specializes in developing Type 3 solar projects, serving clients in sectors such as services, telecommunications, and finance. Meanwhile, SAS subsidiary Sustainable Energy Solution Co., Ltd. (SES) focuses on developing Type 1 solar plants, primarily catering to clients in the electronics and semiconductor sectors. Looking ahead, SES and Anneal Energy aim to pool customer needs and resources, broadening their operational scope and setting a new standard for green energy dispatch within the resale market. This collaboration will maximize synergies across finance, operations, distribution, and services, offering clients a diverse range of clean energy options and high-quality green power solutions. As the push for net-zero intensifies, corporate demand for green energy is growing swiftly. Through its diversified strategies, SAS Group is scaling up green energy sales, ensuring businesses have access to a stable and ample green power supply, establishing itself as a key partner for industries committed to reducing carbon emissions.