Win Semiconductors Corp. · TPEX:3105
Win Semiconductors — Q2 2025 Earnings Presentation
18 slides from Win Semiconductors's earnings presentation, Jul 25, 2025
Slide 1: WIN Semiconductors 2Q2025 Investor Conference
WIN Semiconductors 2Q2025 Investor Conference July 2025 WIN Semiconductors Confidential
Slide 2: Safe Harbor Notice
Safe Harbor Notice This presentation contains certain forward-looking statements that are based on current expectations and are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Except as
Slide 3: ESG Achievements
ESG Achievements WIN recognized in DJSI World Index for the fifth consecutive year. (2020~2024) WIN has been included in the S&P Global Sustainability Yearbook for the sixth consecutive year. (2020~2025) WIN ranked in the top 5% among TPEx-listed companies for the Corporate Governance Evaluati
Slide 4: Business Highlights and Operational Analysis Over the Past Two Years
BUSINESS HIGHLIGHTS AND OPERATIONAL ANALYSIS OVER THE PAST TWO YEARS WIN Semiconductors Confidential 4
Slide 5: Ongoing Long-Term Optimization of Our Product Mix
Ongoing Long-Term Optimization of Our Product Mix • Cellular (↓) Revenue trend by product mix Cellular has been WIN Semi’s most volatile revenue contributor since 2023, mainly due to geopolitical factors accelerating the 2023-Q2 2023-Q3 2023-Q4 2024-Q1 2024-Q2 localization of low-end products by Chi
Slide 6: Well-Controlled Opex, Ongoing R&D Investment, and Positive Operating Cash Flow
Well-Controlled Opex, Ongoing R&D Investment, and Positive Operating Cash Flow Operating expense trend Operating cash flow vs. Capex NT$M Operating Expense R&D as % of Opex NT$M Cashflow from operations Capital expenditures 1000 60% 2000 1500 900 50% 1000 800 40% 500 0 700 30% -500 600 20% -1000 -15
Slide 7: Utilization Recovering and Depreciation Pressure Easing
Utilization Recovering and Depreciation Pressure Easing Company’s individual GM vs. UT ratio Depreciation trend NT$M (UT %) Utilization% Company's individual GM % (GM %) 1300 70% 35.0% 1200 60% 30.0% 1100 50% 25.0% 1000 40% 20.0% 900 30% 15.0% 800 20% 10.0% 700 10% 5.0% 600 0% 0.0% 500 1Q23 2Q23 3Q2
Slide 8: Management Comments Quarterly Results & Guidance
MANAGEMENT COMMENTS QUARTERLY RESULTS & GUIDANCE WIN Semiconductors Confidential 8
Slide 9: Revenue & Margin Trend
Revenue & Margin Trend 2Q25 consolidated revenue was NT$3,780 million, up 5.7% QoQ and down 23.8% YoY. The variance between reported revenue and earlier guidance was primarily attributable to the significant appreciation of the NTD against the USD. In USD terms, consolidated revenue increased by a
Slide 10: Earnings Trend
Earnings Trend Due to FX loss of NT$246 million and other non-op items, 2Q25 net loss attributable to the parent company was NT$421 million, compared to 1Q25, net profit attributable to the parent company was NT$16million. EPS came in at NT$-0.99 for 2Q25, compared to NT$0.04 in 1Q25. NT$M Earning
Slide 11: Product Mix
Product Mix 2Q24 Others* 2Q25 12% Others* Wi-Fi 15-20% Cellular 13% 40-45% Cellular 30-35% Infra. Wi-Fi 25-30% 15-20% 1Q25 Others* 17% Cellular 30-35% Wi-Fi 10-15% Infra. 30-35% * Others: Revenue not attributable to main product segments and additional revenue being consolidated in accordance with I
Slide 12: Guidance
Guidance We expect 3Q25 consolidated revenue to increase mid-teens QoQ. We expect 3Q25 consolidated gross margin to be around the level of low- twenties. WIN Semiconductors Confidential 12
Slide 13: Financial Summary
FINANCIAL SUMMARY WIN Semiconductors Confidential 13
Slide 14: Consolidated Statements of Comprehensive Income – Quarterly
Consolidated Statements of Comprehensive Income – Quarterly 2Q'25 Unit: NTD Million 2Q'24 1Q'25 QoQ YoY (unaudited) Net revenue 4,961 3,576 3,780 +6% -24% Gross profit 1,352 598 698 +17% -48% Gross margin (%) 27.2% 16.7% 18.5% Operating expenses (850) (815) (817) +0% -4% Operating expenses rate (%)
Slide 15: Consolidated Statements of Comprehensive Income – YTD
Consolidated Statements of Comprehensive Income - YTD 2025H1 Unit: NTD Million 2024H1 YoY (unaudited) Net revenue 9,404 7,356 -22% Gross profit 2,346 1,296 -45% Gross margin (%) 24.9% 17.6% Operating expenses (1,661) (1,632) -2% Operating expenses rate (%) -18% -22% Operating income (loss) 685 (336)
Slide 16: Non-operating Items
Non-operating Items 2Q'25 2025H1 Unit: NTD Million 2Q'24 2024H1 (unaudited) (unaudited) Foreign exchange gains (losses) (12) (246) (33) (133) Gains (losses) on disposals of property, plant and (0) 26 (0) 26 equipment Gains on financial liabilities at amortised cost - - 254 - Gain (losses) on financi
Slide 17: Consolidated Balance Sheets
Consolidated Balance Sheets 2025/6/30 2024/6/30 2025/3/31 (Unit: NTD Million) Major Item (unaudited) $ % $ % $ % Cash and cash equivalents 5,296 8% 5,546 9% 5,460 9% Current financial assets at fair value through profit or loss 143 0.2% 183 0.3% 174 0.3% Notes and accounts receivable, net 1,533 2% 1
Slide 18: For more information regarding WIN
Q&A For more information regarding WIN www.winfoundry.com For all inquiries, suggestions, and comments ir@winfoundry.com WIN Semiconductors Confidential 18