Hsinchu, Taiwan, May 7, 2024 – GlobalWafers held its board meeting today (May 7, 2024) to approve its financial statements for the first quarter ended on March 31, 2024 with the consolidated revenue reached NT$15.1 billion and YoY decrease of 19.0%; gross profit of NT$5.2 billion with YoY decrease of 31.6%, gross profit margin of 34.3% with YoY decrease of 6.3%; operating income of NT$4 billion with YoY decrease of 35%, operating income margin of 26.3% with YoY decrease of 6.5%; net income of NT$3.5 billion with YoY decrease of 29.3%, net income margin of 23.4% with YoY decrease of 3.5%; EPS of NT$8.1. The quarterly net income and EPS of Q124 both achieved the third highest in the same period in history, with double-digit growth in monthly revenue for two consecutive months!
Today the Board of Directors also approved the cash dividend payment plan for the second half of 2023. The Board of Directors resolved to distribute a cash dividend of NT$11 per share for the second half of 2023, with a total amount of NT$5.26 billion. The ex-dividend record date is July 24th, and the cash dividend payment date is August 16th. If the cash dividend of NT$8.0 per share with a total amount of NT$3.49 billion distributed in the first half is included, an annual cash dividend of NT$19 per share with total annual amount of NT$8.75 billion is distributed throughout 2023. GlobalWafers’ Annual General Shareholders’ Meeting will be convened at 9 a.m. on June 18 at the Hsinchu Science Park Life Hub, Taiwan.
Despite risks such as inflation and geopolitical conflicts affecting international economic development, the global economy has shown resilience, as evidenced by rising global GDP growth rates and the Purchasing Managers’ Index (PMI). Moreover, the rise of AI applications and the surge in demand for memory devices have become pivotal drivers propelling the growth of the semiconductor industry. Additionally, alongside moderate improvements in fab utilization rates, inventory levels are expected to gradually normalize. Nevertheless, the semiconductor industry still faces challenges such as the pace of interest rate cuts, fluctuations in oil prices, and a slowdown in electric vehicle demand. Furthermore, although the end markets progressively rebound, supporting long-term growth in semiconductor market, delays in restocking due to ongoing inventory adjustments by customers are anticipated to result in a more resilient performance in the second half of 2024 compared to the first half. In response, GlobalWafers has significantly ramped up the proportion of high-quality wafers dedicated to advanced processes and has initiated expansion plans in key global markets, positioning itself favorably to capitalize on the anticipated recovery in the semiconductor industry.
The tenth (2023) Corporate Governance Evaluation results have been announced. GlobalWafers has once again been awarded among the top 5% of all Taipei Exchange-listed companies for the sixth consecutive year. Firmly adhering to the principle of “responsible growth,” GlobalWafers remains dedicated to consistently enhancing its corporate governance practices and bolstering sustainability performance across all domains, with the aim of strengthening corporate competitiveness.