Sino-American Silicon Products (5483) Q3 2024 earnings summary

Executive summary

• Revenue for the nine months ended September 30, 2024 was NT$59.7 billion, down from NT$60.8 billion year-over-year, reflecting a contraction in the semiconductor and renewable energy segments.

• Net income for the nine months was NT$10.66 billion, a decrease from NT$14.90 billion in the prior year period.

• Gross margin for the nine months was 31%, compared to 35% year-over-year.

• The group completed a capital increase via GDR issuance, raising NT$8.96 billion in September 2024.

Financial highlights

• Operating revenue for Q3 2024 was NT$20.12 billion, up 2.7% sequentially from Q2, but down from NT$19.60 billion in Q3 2023.

• Gross profit for Q3 2024 was NT$5.79 billion, with a gross margin of 29%.

• Net income attributable to shareholders for Q3 2024 was NT$1.32 billion, with basic EPS of NT$2.35.

• Cash and cash equivalents at September 30, 2024 were NT$56.33 billion, up from NT$30.83 billion at year-end 2023.

• Net cash from operating activities for the nine months was NT$10.44 billion.

Outlook and guidance

• Management expects the adoption of new IFRS standards in 2025 and 2027 to have minimal impact.

• The group is evaluating the impact of IFRS 18, effective January 2027, on its financial reporting.