31st July, 2025
1
Agenda
Financial Review
Operation Highlights
Q&A
3
FINANCIAL REVIEW
4
Year 2025.2Q Condensed Consolidated Income Statement
Condensed Consolidated P&L (In Million NTD, except for EPS in NTD) | 2025.2Q % | 2025.1Q % | QoQ % | 2024.2Q % | YoY % | |
Net Sales | 6,455 | 100% | 6,865 100% | (6%) | 5,515 100% | 17% |
Consolidated Sales of Testing Equipment Business | 6,292 | 97% | 6,456 94% | (3%) | 5,234 95% | 20% |
Consolidated Sales of MAS | 94 | 2% | 349 5% | (73%) | 192 3% | (51%) |
Others | 69 | 1% | 60 1% | 15% | 89 2% | (22%) |
Cost of Goods Sold | (2,231) | (35%) | (2,717) (40%) | (18%) | (2,249) (41%) | (1%) |
Gross Profit | 4,224 | 65% | 4,148 60% | 2% | 3,266 59% | 29% |
Operating Expenses: | ||||||
General & Administration | (1,395) | (22%) | (1,378) (20%) | 1% | (1,230) (22%) | 13% |
Research & Development | (632) | (9%) | (606) (9%) | 4% | (522) (9%) | 21% |
Operating Income | 2,197 | 34% | 2,164 31% | 2% | 1,514 28% | 45% |
Non-Operating Income (Expenses), net | 241 | 4% | 433 6% | (44%) | 291 5% | (17%) |
Income (Loss) Before Tax | 2,438 | 38% | 2,597 37% | (6%) | 1,805 33% | 35% |
Income Tax | (431) | (7%) | (441) (6%) | (2%) | (368) (7%) | 17% |
Net Income | 2,007 | 31% | 2,156 31% | (7%) | 1,437 26% | 40% |
Net Income (Losses) Attributable To: | ||||||
Shareholders of the Parent | 1,953 | 30% | 2,123 31% | (8%) | 1,407 26% | 39% |
Noncontrolling Interests | 54 | 1% | 33 - | 64% | 30 - | 80% |
$ 2,007 | 31% | $ 2,156 31% | (7%) | $ 1,437 26% | 40% | |
EPS (Basic) | $ 4.64 | $ 5.03 | (8%) | $ 3.34 | 39% | |
EPS (Diluted) | $ 4.60 | $ 4.98 | (8%) | $ 3.31 | 39% | |
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Year 2025.1H Condensed Consolidated Income Statement
Condensed Consolidated P&L (In Million NTD, except for EPS in NTD) | 2025.1H % | 2024.1H % | YoY % | |
Net Sales | 13,320 | 100% | 9,933 100% | 34% |
Consolidated Sales of Testing Equipment Business | 12,748 | 96% | 9,493 96% | 34% |
Consolidated Sales of MAS | 443 | 3% | 278 3% | 59% |
Others | 129 | 1% | 162 1% | (20%) |
Cost of Goods Sold | (4,948) | (37%) | (4,100) (41%) | 21% |
Gross Profit | 8,372 | 63% | 5,833 59% | 44% |
Operating Expenses: | ||||
General & Administration | (2,774) | (21%) | (2,412) (24%) | 15% |
Research & Development | (1,237) | (9%) | (1,007) (10%) | 23% |
Operating Income | 4,361 | 33% | 2,414 24% | 81% |
Non-Operating Income (Expenses), net | 674 | 5% | 610 6% | 10% |
Income (Loss) Before Tax | 5,035 | 38% | 3,024 30% | 67% |
Income Tax | (872) | (7%) | (611) (6%) | 43% |
Net Income | 4,163 | 31% | 2,413 24% | 73% |
Net Income (Losses) Attributable To: | ||||
Shareholders of the Parent | 4,076 | 31% | 2,362 22% | 73% |
Noncontrolling Interests | 87 | - | 51 1% | 71% |
$ 4,163 | 31% | $ 2,413 23% | 73% | |
EPS (Basic) | $ 9.67 | $ 5.61 | 72% | |
EPS (Diluted) | $ 9.58 | $ 5.56 | 72% | |
Balance Sheet Highlights & Financial Ratio
Consolidated (In Million NTD)
2025. June 2024. Dec + / - %
Balance Sheet Highlights | |||||||
Cash & Short Term Investments | 7,456 | 5,040 | 48% | ||||
Inventory | 6,135 | 5,458 | 12% | ||||
Short Term Debt | 336 | 1,417 | - 76% | ||||
Long Term Debt | 2,325 | 2,108 | 10% | ||||
Shareholders Equity | 24,486 | 25,450 | - 4% | ||||
Total Assets | 40,785 | 37,308 | 9% | ||||
Inventory Turnover (Day) | 211 | 209 | |||||
AR Turnover (Day) | 75 | 87 | |||||
AP Turnover (Day) | 106 | 118 | |||||
Net Debt to Equity (%) | Net Cash | Net Cash | |||||
ROE (%) | 33% | 22% | |||||
ROA (%) | 21% | 15% | |||||
Cash Position | 2025.1H | 2024.1H | YoY | ||||
EBITDA | 5,460 | 3,423 | 60% | ||||
Cash Flow from Operation | 2,742 | 2,994 | (8%) | ||||
Free Cash Flow | 2,185 | 2,228 | (2%) | ||||
Free Cash Flow = Net Cash Provided by Operating Activities + (Net Cash used by Investing Activities)
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OPERATION HIGHLIGHT8
2025.2Q & 1H Product Mix and Consolidated Sales Breakdown
(Unit: Million NTD) | 2025.2Q | % | QoQ | YoY | 2025.1H | % | YoY | 2024 | % |
Test Instruments & Automatic Testing System (ATS) | 2,698 | 51% | 22% | 55% | 4,903 | 46% | 44% | 6,825 | 44% |
Semiconductor / Photonics Test Solutions | 2,202 | 41% | (15%) | 18% | 4,804 | 45% | 57% | 6,974 | 45% |
Turnkey Solutions | 123 | 2% | (18%) | (23%) | 273 | 3% | (37%) | 685 | 4% |
Service & Others | 315 | 6% | 12% | - | 597 | 6% | 5% | 1,168 | 7% |
Total of Parent Company Sales | 5,338 | 100% | 2% | 31% | 10,577 | 100% | 42% | 15,652 | 100% |
+ Sales from Overseas Operations & Related Subsidiaries | 954 | (22%) | (17%) | 2,171 | 8% | 4,767 | |||
Chroma Consolidated Testing Equipment Business | 6,292 | 97% | (3%) | 20% | 12,748 | 96% | 34% | 20,419 | 95% |
MAS | 94 | 2% | (73%) | (51%) | 443 | 3% | 59% | 872 | 4% |
Other Subsidiaries | 69 | 1% | 15% | (22%) | 129 | 1% | (20%) | 313 | 1% |
Consolidated Sales | 6,455 | 100% | (6%) | 17% | 13,320 | 100% | 34% | 21,604 | 97% |
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Year 2025 Guidance
The semiconductor / photonics sector will be still the major growth driver in second half, while the Test
Instruments & ATS for power testing solutions expected to hit yearly record high in 2025.
Qualified Metrology equipment for Advanced Packaging and increasing demand of SLT from AI / HPC and autonomous driving are key drivers for Semiconductor / Photonics sector.
The growth of Test Instruments & ATS for power testing solutions are coming from AI server power related
applications.
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Technology & Solution Milestones High Precision Test Solutions
Semiconductor Test Solutions
3650-S2 3380 MXADO
768pin
12 slots
15kVA
Floating
LB electronics
IC: SiC/Power/logic
Designed for High Quality Audio Testing
8 WG and 8 WD channels
6Vpp audioband
High-performance bandwidth: 100kHz (WG) and 22kHz (WD)
Applications:
Wired/wireless/Bluetooth audio devices, headphones, speakers
2023 2024 2025
3680 HDRF2Internally Integrated
One-touch engagement
4 Vector Signal Transceivers
32 RF ports
6Ghz Software Defined Radio
200Mhz bandwidth
Supports various protocols: Bluetooth 5.2, Wi-Fi 6, LoRa, GPS
3650-S2 HTMUAdvanced Performance for Timing Test
16 channels
High precision with nSec-
level accuracy
Supports multiple testing modes
Applications:
PMIC, industrial control chips, logic chips
IC: SiC / Power / Logic / Wireless
IC System Level Test Solutions
Temperature-forcing Systems18/36/54 sites
Package size 5x5~ 120x150mm
-40~+150@Tc, up to 2.9 kw @70 ℃ cooling capacity/site
Model 31000R-L
Sea Cobra-E G1
Contact force up to 600kgf TSD/ Tsense function OHT integration
Model 31000R-L
Sea Cobra-E G2
-40℃~ +150℃ @Tc
Up to 1,800W power
dissipation
-40℃~ +150℃ @Tc
Up to 2,900W power
dissipation
Excellent RTGB and Spike response control
2024 2025
FT & SLT Hybrid Test SystemSLT Handler System
Model 3200
5x5~120x120mm
4~24 sites
-40 ~ +150℃ @Tc, up to
1.5kw/site dissipation
500 kgf/site contact
Warpage detection
OHT integration
Model 3200-HD
5x5~120x150mm
18/36/54 sites
-40 ~ +150℃ @Tc, up to
2.9kW/site dissipation
600 kgf/site contact
TSD/Tsense function integration
Advanced packaging of AI/HPC, automotive, IoT, cloud, network and data center chips
Photonics Test Solutions
PD/APD Burn-in System
Model 58606
Temp. : 40° ~ 180°C
DUT pad size > 70um
±2mA; ±80V
HP LD Burn-in System
Model 58605
Temp. : 20° ~ 85°C
Up to 6Amps of Pulse Driving
LD Burn-in System
Model 58604-HD
Temp. : 40° ~ 150°C
500mA SMU, 2,688ch per Rack
2021 2023
VCSEL Wafer Test System II
Model 58636 series
Temp.: -20° ~ 100°C
LIV+NF two-in-one
Pulse width: hundreds ns to few us
Integrate digital control function
2025
OFC
Consumer/ Automotive Sensing; LiDAR
Semiconductor Test Solutions - Advanced Packaging
2D/3D Wafer Metrology Systems SOC Test
7980
7981
3680 Systems 3650-S2
Front-end Process: Wafer Fabrication
Middle-end Process: Advanced Packaging
Back-end Process: Assembly and Packaging
Lithography, etch, implant
Singulation
Redistribution
Bump
placement
Die attach
Overmold/ Underfill/ Encapsulation
Probe,
test
Wafer clean
Reconstitution
Die stacking
Singulation
Wire Bond
FT Handlers
SLT Handlers
3110-FT 3180 3200 3260
Technology & Solution Milestones High Power Test Solutions
AI Server Power Test Solutions
Power Supply Unit (PSU) Battery Backups
Power Shelf
Battery Backup Unit On-board DC-DC Converter
AI Server
(Source: Supermicro)
Regenerative Grid Simulator
DC Electronic Load
Power Conversion Device ATS
Bidirectional DC Source
DC Electronic Load
Model 61800
Model 61815
15kVA
Model 63200A Series
2kW - 24kW
Model 62000D Series
0 - 2000V, 0 - 540A
6kW - 45kW
Model 62000D-HL Series
Model 63202A-20-1000 63202A-20-2000
2KW/Up to 2000A
105kVA
Model 8000 ATS
Up to 500kW
High range: 2000V/480A/360kW
Low range: 650V/1440A/360kW
High power system: up to 1.8MW
AI Server Battery Backup Unit Test Solutions
Battery Backup Unit
BBU Battery Pack
(Source: Supermicro)
Power Rack
BBU Shelf BBU Module BBU Battery Pack Battery pack BMS Battery Cell
Regenerative Battery Pack Test System
BBU Functional ATS
Battery pack ATS
Regenerative Battery Pack Test System
BMS functional ATS
Battery reliability test system
Model 17040E | Model 17050 | Model 8000 ATS | Model 8720 ATS | Model 17020/E/C | Model 8710 ATS | Model 17010H |
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Thank You
Copyright © 2023 Chroma ATE Inc. All rights reserve1d9.
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