Phoenix Silicon International Corp. · TWSE:8028
Phoenix Silicon International — Q4 2025 Earnings Presentation
27 slides from Phoenix Silicon International's earnings presentation, Mar 18, 2026
Slide 1: 2025 Fourth Quarter Earnings Conference
2025 Fourth Quarter Earnings Conference March 2026
Slide 2: Safe Harbor Notice
Safe Harbor Notice • Psi’s statements of its current expectations are forward-looking statements subject to significant risks and uncertainties and actual results may differ materially from those contained in the forward-looking statements. • Information as to those factors that could cause actual r
Slide 3: Agenda
Agenda • Financial Performance • Semi Industry Outlook • Drivers of Business Expansion • Long-Term Competitive Moat • Key Messages Phoenix Silicon International Corporation Confidential 2
Slide 4: Financial Performance
Financial Performance
Slide 5: Financial Highlights
Financial Highlights 2025Q4 Revenue GPM OPM M TWD NT$ 1,219M 33.4% 21.5% 1,400 37.3% 40% 34.7% 33.4% 33.4% 35% 1,200 31.7% 32.0% 30% 1,000 24.0% 25% 800 20.9% 21.5% 20.1% 19.7% 18.5% 20% 600 15% 400 10% 200 5% 938 1,050 1,082 1,044 1,164 1,219 0 0% 24Q3 24Q4 25Q1 25Q2 25Q3 25Q4 Revenue GM% OPM% Phoe
Slide 6: Financial Matrix
Financial Matrix Item 2024Q4 2025Q3 2025Q4 Y2024 Y2025 Shipment (Kpcs, 12"-equiv. Wafer) 1,963 2,531 2,599 6,869 9,486 Net Revenue (US$ Millions) 32 38 39 110 144 Net Revenue (NT$ Millions) 1,050 1,164 1,219 3,551 4,509 Gross Margin 34.7% 33.4% 33.4% 28.8% 34.0% Operating Margin 20.1% 20.9% 21.5% 15
Slide 7: Semi Industry Outlook
Semi Industry Outlook Bj
Slide 8: AI-Driven Chips to Top $1 Trillion
AI-Driven Chips to Top $1 Trillion 2.5Mu 2.5Mu 50Mu 200Mu 1,000Mu 100Mu 280Mu 5Mu 50Mu Source: WSTS, IDC, TSMC Phoenix Silicon International Corporation Confidential 7
Slide 9: Top CSPs CapEx Revving Up
Top 5 CSPs CapEx Revving Up US$ Bn 800 700 600 500 400 300 200 100 0 2024 2025 2026F 2027F CapEx -25Q4 Release CapEx -26Q1 Release Source: UBS, GS Phoenix Silicon International Corporation Confidential 8
Slide 10: Drivers of Business Expansion
Drivers of Business Expansion Reclaim: Scaling with Advanced Technology
Slide 11: Sub 2nm Capacity Scaling UP
Sub 2nm Capacity Scaling UP KWPM 250 CAGR 114.1% 200 150 100 50 0 2024 2025 2026F 2027F 2028F Sub 2nm-25Q3 Release Sub 2nm-26Q1 Release Source: JPM, UBS ,GS Phoenix Silicon International Corporation Confidential 10
Slide 12: Advanced Packaging Ramping Up
Advanced Packaging Ramping Up KWPM 250 CAGR 63.5% 200 150 100 50 0 2024 2025 2026F 2027F 2028F 2025/10 Release 2026/01 Release 2026/02 Release Source: JPM, UBS ,GS Phoenix Silicon International Corporation Confidential 11
Slide 13: Memory Wafer Starts
Memory Wafer Starts KWPM 4,000 3,500 CAGR 5.1% AI NAND 3,000 CAGR22.5% 2,500 2,000 1,500 AI DRAM 1,000 CAGR46.8% 500 - 2024 2025 2026E 2027F 2028F DRAM PC DRAM Server DRAM Mobile DRAM Graphics DRAM Consumer Source: TF, Sumco NAND PC NAND Graphics NAND Server NAND Consumer NAND Others Phoenix Silicon
Slide 14: Process Complexity Driving Reclaim Demand
Process Complexity Driving Reclaim Demand • Structural Transition & Design Challenges • Manufacturing Precision & Yield Pressure Source: imec Phoenix Silicon International Corporation Confidential 13
Slide 15: Node Evolution & Reclaim Demand
Node Evolution & Reclaim Demand Reclaim Usage Ratio 40nm 28/22nm 10nm 16/12nm 7nm 5nm 3nm 2nm Source: PSI estimate Phoenix Silicon International Corporation Confidential 14
Slide 16: Accelerating Market Share Gains
Accelerating Market Share Gains 60% 57% 59% 55% 51% 50% 47% 45% 43% 42% 40% 38% 33% 30% 20% 10% 0% 2024 2025 2026F 2027F 2028F WW TW Source: company data, PSI Phoenix Silicon International Corporation Confidential 15
Slide 17: Drivers of Business Expansion
Drivers of Business Expansion Thinning：Potential Drivers from 12” Si and SiC
Slide 18: Dr. MOS Capturing Multi-market Growth
Dr. MOS Capturing Multi-market Growth Driver MOSFET Phoenix Silicon International Corporation Confidential 17
Slide 19: Scaling Up 12-inch Si Thinning for Next-Gen
Scaling Up 12-inch Si Thinning for Next-Gen 600 CAGR 96.9% 500 400 300 200 2024 2025E 2026F 2027F 2028F 8" Si 12"Si Source: PSI estimate Phoenix Silicon International Corporation Confidential 18
Slide 20: Beyond Silicon - Silicon Carbide Key Properties
Beyond Silicon - Silicon Carbide Key Properties High Breakdown Field Mechanical Strength ~10× stronger than Si Mohs ~9.2, 1.3X than Si Thinner Drift Layer High Hardness & Strength High Performance Optical Transmission Thermal Conductivity Material SiC, best 0.4–2μm, strong & durable 260–450 W/MK, Gl
Slide 21: SiC New Era – Blooming Applications
SiC New Era – Blooming Applications Heat Dissipater IC Substrate Specialty glass Phoenix Silicon International Corporation Confidential 20
Slide 22: Long-Term Competitive Moat
Long-Term Competitive Moat
Slide 23: PSI's Competitive Moat
PSI’s Competitive Moat TECHNOLOGY • OHT compatible dry in dry out polishing • Near prime single wafer cleaning EFFICIENCY Scalability • Streamline flow via Automation and AI • Worldwide leading capacity build up • Double per capita outcomes in three years • Top tier long term supply chain relationsh
Slide 24: S.E.T. The Growth Energies
S.E.T. The Growth Energies Turning Scalability, Efficiency and Technology into the Sustainable Profit. 2025 2026E 2027E 2028E Scalability Efficiency Technology Phoenix Silicon International Corporation Confidential 23
Slide 25: Key Takeaways
Key Takeaways
Slide 26: Key Takeaways
Key Takeaways • PSI’s Moat, Technology, Efficiency, Scalability • Riding the AI Wave: Critical Demand for Advanced Nodes & Packaging • Operational Excellence: Driving Profitability via AI Automation • Unlocking the 2nd Growth Curve: SiC Wafering Technology • Strategic Expansion: Building Capacity fo
Slide 27: Https://www.psi.com.tw ir@psi.com.tw
Https://www.psi.com.tw ir@psi.com.tw Phoenix Silicon International Corporation Confidential 26
Phoenix Silicon International — Q4 2025 Earnings Presentation on 6ix