Sino-American Silicon Products (5483) Q2 2024 earnings summary

Executive summary

• Operating revenue for the six months ended June 30, 2024 was NT$39,588,537 thousand, down from NT$41,221,854 thousand year-over-year.

• Net income for the six months ended June 30, 2024 was NT$7,496,623 thousand, compared to NT$9,442,357 thousand for the same period last year.

• The group operates in semiconductor, renewable energy, and automotive components segments, with semiconductor as the largest contributor.

Financial highlights

• Gross profit margin for the six months ended June 30, 2024 was 32%, compared to 35% year-over-year.

• Basic earnings per share for the six months ended June 30, 2024 was NT$6.35, down from NT$8.36 year-over-year.

• Cash and cash equivalents as of June 30, 2024 were NT$50,360,143 thousand.

• Total assets as of June 30, 2024 were NT$273,220,989 thousand, with total equity of NT$106,847,787 thousand.

Outlook and guidance

• The group is expanding manufacturing capacity, including new facilities in Texas and Missouri supported by a preliminary memorandum with the US Department of Commerce under the CHIPS Act.

• Ongoing investments in property, plant, and equipment, with significant outstanding commitments of NT$61,266,732 thousand as of June 30, 2024.