Hsinchu, Taiwan, August 4, 2022 - Sino-American Silicon Products Inc. (SAS) board approved its financial statements for the second quarter 2022 today with the consolidated revenue reached NT$20.27 billion with 8.0% QoQ and 18.0% YoY; gross profit of NT$8.26 billion with 10.8% QoQ and 41.3% YoY; operating profit of NT$6.80 billion with 9.6% QoQ and 57.7% YoY; net income of NT$3.20 billion, net income attributed to the parent company of NT$1.82 billion and EPS of NT$3.11; gross profit margin of 40.8% with 1% QoQ and 6.8% YoY; operating profit margin of 33.6% with 0.5% QoQ and 8.5% YoY. SAS' semiconductor subsidiary, GlobalWafers (GWC) also concluded its second quarter with the consolidated revenue of NT$17.54 billion; gross profit of NT$7.64 billion and gross profit margin of 43.6%; operating profit of NT$6.40 billion and operating profit margin of 36.5%; net income of NT$2.7 billion; EPS of NT$6.24.

Regarding the first half of 2022 consolidated financial results, SAS cumulative consolidated revenue totaled NTD$39.04 billion with 17.5% YoY; gross profit of NT$15.73 billion with 39.8% YoY; operating profit of NT$13.01 billion with 57.2% YoY; EPS of NT$5.26; gross profit margin of 40.3% with 6.4% YoY; operating profit margin of 33.3% with 8.4% YoY. SAS' semiconductor subsidiary, GlobalWafers cumulative consolidated revenue in the first half of 2022 achieved NTD$33.85 billion with 12.8% YoY; gross profit of NT$14.59 billion with 35.4% YoY, and gross profit margin of 43.1% with 7.2% YoY; operating profit of NT$12.29 billion with 49.7% YoY, and operating profit margin of 36.3% with 8.9% YoY; net income of NT$4.5 billion; EPS of NT$10.25. For the second quarter and the first half of 2022, SAS and GlobalWafers achieved outstanding results with double-digit annual growth in revenue, gross profit and operating profit, setting new record highs! In addition, both gross profit margin and operating profit margin hit the highest records in the history! Additionally, GlobalWafers' prepayment balance amounted to NT$ 36 billion, the all-time high!

Moreover, if excluding the non-cash mark-to-market loss on the shares of Siltronic AG held by the subsidiary, GlobalWafers, 1H 2022 EPS of SAS andGlobalWaferswould have amounted to NT$11.35 and NT$26.28 respectively, both record-breaking!

Climate change is the defining issue for the whole world now. The Russian invasion of Ukraine and the corresponding power crisis urge most European countries to detach themselves from the energy strings from Russia, providing additional tailwind to the uptake of ambitious renewable energy policies to significantly increase renewables deployment and phase out fossil fuels. Also, Taiwan government pledges net-zero emission in 2050, and renewable is anticipated to weight up to 70% by 2050. The determination is reinforced by policies like mandatory rooftop PV system installation and hiking power rate, which will reduce the gap between grey and green power, making renewable energy more attractive for enterprise and household users. Solar power will rank the top power generation source installed across the globe owing to its cost-competitiveness. To seize the robust demand on renewable energy, SAS expands production line for high efficiency cell targeting the high output module market, and stretches its business into green power, energy storage and green energy resale business. Furthermore, SAS gives full assistance to its subsidiary, GlobalWafers, and its strategic partners in increasing the weight of clean power in order to strengthen energy resilience and tackle the challenges brought by climate change.

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Sino-American Silicon Products Inc. published this content on 04 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 August 2022 07:36:02 UTC.