April 9, 2024 – Sino-American Silicon (SAS) released its March results today that the consolidated revenue reached NT$7.1 billion with 10.1% MoM and -5.7% YoY. SAS Q124 consolidated revenue totaled NT$19.7 billion, with -6.9% QoQ and -5.8% YoY. Both monthly and quarterly revenues reached the second-highest levels for the same period in history, indicating that its operations are steadily advancing under a diversified strategy in renewable energy, semiconductor, and automotive components.
SAS’ semiconductor subsidiary, GlobalWafers (GWC), also released its March results today that the consolidated revenue reached NT$5.7 billion with 12.6% MoM and -15.6% YoY. GWC Q124 consolidated revenue totaled NT$15.1 billion, with -10.0% QoQ and -19.0% YoY. GlobalWafers’ monthly revenue in 2024 has grown at double digits for two consecutive months, embarking on a steady pace of growth.
Regarding the recent earthquake, although some pullers were affected, they have largely resumed operation after inspection. With an ample supply of ingot inventory prepared in advance to address unforeseen events such as earthquakes and power outages, production has smoothly transitioned, ensuring a supply for subsequent sites. The solar power plants also operate normally. The earthquake has not impacted the Q2 revenue of both SAS and GWC.
Looking ahead to 2024, as the end market gradually destocks and the demand for advanced process wafers is bolstered by AI-driven developments, emerging applications are poised to generate new business momentum. GlobalWafers is strategically focusing its expansion plan on large-size silicon wafers, specialty wafers, and compound semiconductors, positioning itself well for the market’s shift towards advanced processes and well-prepared to leverage the impending recovery wave. GlobalWafers has witnessed a consistent month-on-month revenue increase from January to March this year, fostering a cautiously optimistic outlook for future revenue growth, the company anticipates a healthier performance in the second half of the year compared to the first half.
Concurrently, the escalating global demand for renewable energy, driven by the looming energy crisis and escalating climate concerns, presents new opportunities. According to the latest “Renewable Energy 2023” report by the International Energy Agency (IEA), solar photovoltaic and wind power are projected to collectively represent 95% of the new renewable energy capacity (3700GW) over the next five years. In response to this burgeoning demand, SAS is actively upgrading its production lines to N-type M10 Topcon to meet market requirements. Following the conclusion of the presidential election in Taiwan, solar photovoltaic projects have been back on track, allowing for the acceleration of power plant installations starting from the second quarter. As an energy solution provider, SAS is primed to flexibly mobilize group resources to capitalize on the new energy wave and proactively diversifying its range of renewable energy products to offer customers comprehensive one-stop services.