Slide 1: WIN Semiconductors 4Q2024 Investor Conference
WIN Semiconductors 4Q2024 Investor Conference February 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: Quarterly Results & Guidance
QUARTERLY RESULTS & GUIDANCE WIN Semiconductors Confidential 4
Slide 5: Revenue & Margin Trend
Revenue & Margin Trend 4Q24 revenue was NT$3.71b, down 15% QoQ and down 24% YoY. In 4Q24, the product mix improved, but capacity utilization declined to 35%, and the share price decline of a listed Chinese customer held by our consolidated subsidiary negatively affected gross margin by -1pp. As
Slide 6: Earnings Trend
Earnings Trend In 4Q24, net loss attributable to the parent company was NT$352 million, with EPS of NT$-0.83. EPS for the full year of 2024 was NT$1.81. NT$M Earnings & growth trend NT$ EPS 800 1.50 600 400 1.00 200 0.50 0 -200 0.00 -400 -600 (0.50) -800 1Q23 3Q23 1Q24 3Q24 2Q23 4Q23 2Q24 4Q24 (1.
Slide 7: Product Mix
Product Mix 4Q23 4Q24 Others* 22% Others* Cellular 21% Cellular Wi-Fi 45-50% 25-30% 5-10% Infra. 20-25% Wi-Fi 3Q24 10-15% Others* 16% Cellular 35-40% Infra. Wi-Fi 15-20% 35-40% * Others: Revenue not attributable to main product segments and additional revenue being Infra. 25-30% consolidated in acco
Slide 8: Guidance
Guidance We expect 1Q25 revenue to decline mid-single digit QoQ. We expect 1Q25 gross margin to be around the level of high-teens. WIN Semiconductors Confidential 8
Slide 9: Financial Summary
FINANCIAL SUMMARY WIN Semiconductors Confidential 9
Slide 10: Consolidated Statements of Comprehensive Income – Quarterly
Consolidated Statements of Comprehensive Income – Quarterly 4Q'24 Unit: NTD Million 4Q'23 3Q'24 QoQ YoY (unaudited) Net revenue 4,868 4,348 3,706 -15% -24% Gross profit 1,433 938 758 -19% -47% Gross margin (%) 29.4% 21.6% 20.4% Operating expenses (794) (813) (806) -1% +2% Operating expenses rate (%)
Slide 11: Consolidated Statements of Comprehensive Income - YTD
Consolidated Statements of Comprehensive Income - YTD 2024Y Unit: NTD Million 2023Y YoY (unaudited) Net revenue 15,836 17,458 +10% Gross profit 3,469 4,042 +17% Gross margin (%) 21.9% 23.2% Operating expenses (3,525) (3,280) -7% Operating expenses rate (%) -22% -19% Operating income (loss) (56) 762
Slide 12: Non-operating Items
Non-operating Items 4Q'24 2024Y Unit: NTD Million 4Q'23 2023Y (unaudited) (unaudited) Foreign exchange gains (losses) (68) (250) (846) (19) Gains (losses) on disposals of property, plant and (1) (17.1) (19) (17) equipment Gains on repurchase of bonds payable 104 - 817 - Gains on financial liabilitie
Slide 13: Consolidated Balance Sheets
Consolidated Balance Sheets 2024/12/31 2023/12/31 2024/9/30 (Unit: NTD Million) Major Item (unaudited) $ % $ % $ % Cash and cash equivalents 10,326 15% 5,673 9% 5,419 8% Current financial assets at fair value through profit or loss 143 0.2% 180 0.3% 183 0.3% Notes and accounts receivable, net 1,149
Slide 14: Market Outlook
MARKET OUTLOOK WIN Semiconductors Confidential 14
Slide 15: Rapidly Increased Global Data Traffic
Rapidly Increased Global Data Traffic To increase data transmission capacity: 1. Increase number of devices 2. Improve performance of devices (spectrum efficiency) 3500 3280 1 EB=1 billion GB 3000 Enterprise & Industry EB / Month 2500 2000 Consumer Mobile 1500 1000 Consumer Fixed 500 0 2023 2024 202
Slide 16: 5G Adoption Rate Continues to Rise
5G Adoption Rate Continues to Rise 5G smartphone adoption continues to grow, with WIN’s advanced HBT technology increasingly integrated into premium and flagship models. Cellular Standard % 2024 2025 2026 2027 2028 2029 2030 5G 63.3% 68.6% 72.9% 77.0% 80.6% 82.8% 72.9% 6G 0.0% 0.0% 0.0% 0.0% 0.0% 0.
Slide 17: Wi-Fi 7 is One of the Main Growth Engines
Wi-Fi 7 is One of the Main Growth Engines • Wi-Fi 7 data rates increase with spectrum expansion, wider channel bandwidth, and advanced modulation. • The Wi-Fi 7 market continues to grow in 2025 for both cellular and router segments. • Wi-Fi 6 adoption continues to expand, gradually replacing Wi-Fi 5
Slide 18: Technology Leadership in Cellular and Wi-Fi
Technology Leadership in Cellular and Wi-Fi • WIN’s cutting-edge HBT7 technology is a proven solution widely adopted for 5G L/M/H/UH-band power amplifiers and Wi-Fi 7 applications. • State-of-the-art performance on power gain, efficiency, linearity and robustness under stringent environment conditio
Slide 19: Satellite Expanding Connectivity
Satellite Expanding Connectivity • E/V-band is being adopted in satellites to expand capacity in 2025. • More LEO satellites are planned for launch in 2025. • WIN’s industry-leading GaAs pHEMT and GaN HEMT technologies support the growing demand for new frequency applications. • Emerging opportuniti
Slide 20: WIN's Advanced Technologies for Satcom
WIN’s Advanced Technologies for Satcom PRODUCTION V-Band E-Band 28V NP12 (2024) 28V NP12 (2025) NP10 (2025/26) • Ka-Band PA • SATCOM PA • E-band PA • 0.12μm EBL GaN HEMT • 0.12μm EBL GaN HEMT • 0.1μm EBL GaN HEMT • 2/4 mil Substrate TSV with COV • 2/4 mil Substrate TSV with COV • 2/4 mil Subst
Slide 21: AI Accelerating III-V Semiconductor Adoption
AI Accelerating III-V Semiconductor Adoption WIN Semiconductors Confidential 21
Slide 22: AI: Transforming the World
AI : Transforming the World Data Center Robotics AI Glasses Autonomous Vehicle 22
Slide 23: AI Servers Fuel Optical Transceiver Growth
AI Servers Fuel Optical Transceiver Growth Datacom optical transceiver growing with AI server demand. Source: YOLE 23
Slide 24: Laser Technologies in Data Center
Laser Technologies in Data Center Data Center Interconnect Distance Laser Source OT Rate 800G Spine Spine - Leaf >2km LR/ER/ER InP DFB/EML Leaf 800G Leaf - Server <2km DR/FR InP DFB/EML 800G Server - Server <100m Servers AOC/SR GaAs VCSEL : WIN’s Technologies 24
Slide 25: WIN Technologies in Optical Transceiver
WIN Technologies in Optical Transceiver : WIN’s Technologies Fiber Light Out Modulator (EAM or MZM) Laser Diode Driver TX Directly Modulated Laser (DML) Modulator + Laser SiPh CW-DFB EML VCSEL Driver 100G 200G 400G 100G, 200G 100G, 200G 100G 200G 0.1μm pHEMT 0.07μm pHEMT InP DHBT Light In Detector R
Slide 26: Trends in Laser Technologies for Datacom
Trends in Laser Technologies for Datacom CPO w/ External Laser Source Si Photonics w/ Integrated Laser (ELS) Source Fiber III-V Laser integrated with Si Photonics 400 • Challenges: Coupling, alignment, and integration mW CW Laser Power 200 InP La ser mW Si Pho tonics 100 mW InP La ser 70 + SOA mW Si
Slide 27: AI-Powered Robots
AI-Powered Robots • AI-powered robots will accelerate the adoption of 3D sensing devices. • These robots rely on advanced 3D sensing technologies, such as LiDAR and time-of-flight (ToF) sensors. • Advanced VCSEL array chips are essential for enabling AI-powered robots with high-precision navigation,
Slide 28: AI Powering XR Growth
AI Powering XR Growth • AI is driving AR and VR growth by enabling more immersive experiences across industries such as gaming, healthcare, education, and training. • VCSEL technology will play a crucial role in AI-powered AR glasses and VR headsets by enabling precise 3D sensing, eye tracking, and
Slide 29: AI Enables and Drives the Growth of the Autonomous Vehicle Market
AI Enables and Drives the Growth of the Autonomous Vehicle Market • Accuracy of Lidar will provide the safest driving capability for autonomous vehicles. • Both VCSEL and EEL are the strong contenders each with its own merits. LiDAR Market by shipment in M units 8.3 0.8 2022 2023 2024 2025 2026 2027
Slide 30: Q&A
Q&A For more information regarding WIN www.winfoundry.com For all inquiries, suggestions, and comments ir@winfoundry.com WIN Semiconductors Confidential 30