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WIN Semiconductors (3105) investor relations material

WIN Semiconductors Q2 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 2025 earnings summary31 Jul, 2025

Executive summary

  • Q2 2025 revenue was NT$3,780 million, up 5.7% quarter-on-quarter but down 23.8% year-over-year, mainly due to currency appreciation and market shifts.

  • Net loss attributable to the parent company was NT$421 million, reversing from a profit in Q1, mainly due to FX losses and non-operating items; EPS at -0.99 for Q2.

  • Product mix shifted, with infrastructure and cellular PA now contributing equally, and WiFi segment showing strong growth from WiFi 7 adoption.

  • Operating expenses remained stable, with over 50% allocated to R&D, and positive operating cash flow was maintained.

  • Recognized for sustainability and governance, including DJSI World Index and TCSA Gold Award.

Financial highlights

  • Q2 consolidated revenue: NT$3,780 million; Q/Q +5.7%, Y/Y -23.8%.

  • Gross margin: 18.5% (up 1.8 ppt Q/Q); operating margin: -3.1% (improved 3 ppt Q/Q).

  • Net loss: NT$421 million; EPS: -0.99; ROE: -5%.

  • Utilization rate improved to 45% from 35% last quarter; depreciation expense was NT$1,038 million.

  • Cash and equivalents: NT$5,460 million; current ratio: 227%; debt ratio: 39%.

Outlook and guidance

  • Q3 2025 revenue expected to increase mid-teens percent quarter-on-quarter.

  • Q3 gross margin forecasted in the low 20% range; all product segments expected to show positive growth.

  • Optical segment anticipated to be the fastest-growing in Q3 due to new smartphone launches.

  • Depreciation expense expected to continue declining in coming quarters.

  • Gross margin recovery anticipated as utilization and product mix improve, despite potential FX headwinds.

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Frequently asked questions

WIN Semiconductors Corp. is a leading provider of pure-play foundry services for compound semiconductor devices. The company specializes in the production of gallium arsenide (GaAs) and gallium nitride (GaN) wafers used in applications such as wireless communications, optoelectronics, 5G infrastructure, and automotive electronics. WIN Semiconductors offers high-frequency and high-power solutions tailored to meet the needs of its global client base, which includes companies in the telecommunications, aerospace, and consumer electronics sectors. The company is headquartered in Taoyuan, Taiwan, and its shares are listed on the TWSE.

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