22nm revenue surges 46% QoQ on display driver and networking chip demand

Inauguration of new Singapore fab to support future 22nm growth

First Quarter 2025 Overview¹:

Revenue: NT$57.86 billion (US$1.74 billion)
Gross margin: 26.7%; Operating margin: 16.9%
Revenue from 22/28nm: 37%
Capacity utilization rate: 69%
Net income attributable to shareholders of the parent: NT$7.78 billion (US$234 million)
Earnings per share: NT$0.62; earnings per ADS: US$0.093

United Microelectronics Corporation (NYSE:UMC, TWSE: 2303)) ("UMC" or "The Company"), a leading global semiconductor foundry, today announced its consolidated operating results for the first quarter of 2025.

First quarter consolidated revenue was NT$57.86 billion, decreasing 4.2% from NT$60.39 billion in 4Q24. Compared to a year ago, 1Q25 revenue increased 5.9%. Consolidated gross margin for 1Q25 was 26.7%. Net income attributable to the shareholders of the parent was NT$7.78 billion, with earnings per ordinary share of NT$0.62.

Jason Wang, co-president of UMC, said, "Our results in the first quarter were in line with previous guidance, with flattish wafer shipments and the one-time pricing adjustment at the beginning of the year to reflect market conditions. First-quarter highlights include 22/28nm revenue hitting a record high, representing 37% of total sales. That was driven by a 46% quarter-over-quarter increase in 22nm revenue from products such as OLED display driver ICs, image signal processors as well as digital TV, WiFi and audio codec chips. We expect customers to tape-out additional 22nm products in the coming quarters as customers increasingly migrate to our 22nm logic and specialty platforms for next-generation applications. Earlier this month, we also officially inaugurated our new Singapore Phase 3 fab, which will provide additional 22nm capacity to support future growth. Pilot runs are underway and is on schedule to ramp up to volume production early 2026. The expansion in Singapore also further broadens our geographic diversification, enabling customers to strengthen their supply chain resilience. In February, our Board of Directors proposed a cash dividend of NT$2.85 per share, which is subject to approval from shareholders in the upcoming annual general meeting."

Co-president Wang added, "Looking ahead to the second quarter, we are expecting a moderate rebound in demand across all segments according to near-term alignment with customers. Beyond that, we are cautious about wafer demand projections as policies and markets are still adjusting to the recent tariff announcements. To navigate this challenging environment, we are working closely with customers to monitor trends in end market demand. We are also strengthening our competitive advantages by focusing on execution of key technology projects, such as the 12nm collaboration with U.S. partner, and ensuring our customers have access to geographically diverse manufacturing options. In addition, we are implementing cost reduction plans and accelerating AI and intelligent manufacturing systems to enhance operational efficiency. Through these key focuses, we are confident that UMC can maintain our financial and business resilience."

Co-president Wang said, "In the first quarter, UMC was honored to receive high ratings in two key sustainability benchmarks. In the Sustainability Yearbook 2025 published by S&P Global, UMC is the only semiconductor company globally to earn the ‘Top 1%' ranking based on the company's Corporate Sustainability Assessment (CSA) score. UMC also stood out in the CDP's annual assessment as the sole semiconductor company to be awarded the highest ‘A' rating in both Climate Change and Water Security categories."

Summary of Operating Results

Operating Results
(Amount: NT$ million)	1Q25		4Q24		QoQ % change		1Q24		YoY % change
Operating Revenues	57,859		60,386		(4.2	)	54,632		5.9
Gross Profit	15,447		18,343		(15.8	)	16,899		(8.6	)
Operating Expenses	(6,123	)	(6,748	)	(9.3	)	(5,747	)	6.5
Net Other Operating Income and Expenses	462		362		27.6		513		(9.9	)
Operating Income	9,786		11,957		(18.2	)	11,665		(16.1	)
Net Non-Operating Income and Expenses	(439	)	(1,443	)	(69.5	)	1,056		-
Net Income Attributable to Shareholders of the Parent	7,777		8,497		(8.5	)	10,456		(25.6	)
EPS (NT$ per share)	0.62		0.68				0.84
EPS (US$ per ADS)	0.093		0.104				0.131
Exchange rate (USD/NTD)	33.18		32.78				31.99
Note：Sums may not equal totals due to rounding.

First quarter operating revenues declined 4.2% sequentially to NT$57.86 billion. Revenue contribution from 40nm and below technologies represented 53% of wafer revenue. Gross profit decreased 15.8% QoQ to NT$15.45 billion, or 26.7% of revenue. Operating expenses decreased 9.3% to NT$6.12 billion. Net other operating income increased 27.6% to NT$0.46 billion. Net non-operating expenses totaled NT$0.44 billion. Net income attributable to shareholders of the parent amounted to NT$7.78 billion.

Earnings per ordinary share for the quarter was NT$0.62. Earnings per ADS was US$0.093. The basic weighted average number of shares outstanding in 1Q25 was 12,484,780,989, compared with 12,481,192,676 shares in 4Q24 and 12,414,087,724 shares in 1Q24. The diluted weighted average number of shares outstanding was 12,579,207,466 in 1Q25, compared with 12,610,756,874 shares in 4Q24 and 12,577,525,057 shares in 1Q24. The fully diluted shares counted on March 31, 2025 were approximately 12,579,207,000.

Detailed Financials Section

Operating revenues decreased to NT$57.86 billion. COGS grew 0.9% to NT$42.41 billion, which included a 4.1% sequential increase in depreciation. Gross profit decreased 15.8% QoQ to NT$15.45 billion. Operating expenses decreased to NT$6.12 billion, as G&A declined 13.9% QoQ to NT$1.54 billion, R&D declined 8.5% to NT$3.96 billion, and Sales & Marketing also declined 0.7% to NT$0.62 billion. Net other operating income was NT$0.46 billion. In 1Q25, operating income declined 18.2% QoQ to NT$9.79 billion.

COGS & Expenses
(Amount: NT$ million)	1Q25		4Q24		QoQ % change		1Q24		YoY % change
Operating Revenues	57,859		60,386		(4.2	)	54,632		5.9
COGS	(42,412	)	(42,043	)	0.9		(37,733	)	12.4
Depreciation	(12,321	)	(11,841	)	4.1		(9,335	)	32.0
Other Mfg. Costs	(30,091	)	(30,202	)	(0.4	)	(28,398	)	6.0
Gross Profit	15,447		18,343		(15.8	)	16,899		(8.6	)
Gross Margin (%)	26.7	%	30.4	%			30.9	%
Operating Expenses	(6,123	)	(6,748	)	(9.3	)	(5,747	)	6.5
Sales & Marketing	(619	)	(623	)	(0.7	)	(684	)	(9.5	)
G&A	(1,542	)	(1,791	)	(13.9	)	(1,702	)	(9.4	)
R&D	(3,964	)	(4,334	)	(8.5	)	(3,407	)	16.3
Expected Credit Impairment Gain	2		0		523.3		46		(94.7	)
Net Other Operating Income & Expenses	462		362		27.6		513		(9.9	)
Operating Income	9,786		11,957		(18.2	)	11,665		(16.1	)
Note：Sums may not equal totals due to rounding.

Net non-operating expenses in 1Q25 was NT$0.44 billion, primarily reflecting the NT$0.77 billion in net investment loss, offset by the NT$0.22 billion in net interest income, and the NT$0.12 billion in exchange gain.

Non-Operating Income and Expenses
(Amount: NT$ million)	1Q25		4Q24		1Q24
Non-Operating Income and Expenses	(439	)	(1,443	)	1,056
Net Interest Income and Expenses	219		290		676
Net Investment Gain and Loss	(769	)	(2,614	)	(324	)
Exchange Gain and Loss	115		877		697
Other Gain and Loss	(5	)	4		7
Note：Sums may not equal totals due to rounding.

In 1Q25, cash inflow from operating activities was NT$23.83 billion. Cash outflow from investing activities totaled NT$10.51 billion, which included NT$14.57 billion in capital expenditure, resulting in free cash flow of NT$9.26 billion. Cash outflow from financing was NT$13.78 billion, primarily from NT$13.02 billion in bank loans. Net cash flow in 1Q25 amounted to NT$1.35 billion. Over the next 12 months, the company expects to repay NT$5.62 billion in bank loans.

Cash Flow Summary
(Amount: NT$ million)	For the 3-Month Period Ended Mar. 31, 2025		For the 3-Month Period Ended Dec. 31, 2024
Cash Flow from Operating Activities	23,826		32,977
Net income before tax	9,347		10,514
Depreciation & Amortization	14,128		13,463
Share of loss of associates and joint ventures	208		1,800
Income tax paid	(585	)	(137	)
Changes in working capital & others	728		7,337
Cash Flow from Investing Activities	(10,506	)	(16,968	)
Acquisition of PP&E	(14,153	)	(18,275	)
Acquisition of intangible assets	(329	)	(877	)
Others	3,976		2,184
Cash Flow from Financing Activities	(13,776	)	(14,305	)
Bank loans	(13,018	)	(10,495	)
Redemption of bonds	-		(3,400	)
Others	(758	)	(410	)
Effect of Exchange Rate	1,810		(111	)
Net Cash Flow	1,354		1,593
Beginning balance	105,000		103,407
Ending balance	106,354		105,000
Note：Sums may not equal totals due to rounding.

Cash and cash equivalents increased to NT$106.35 billion. Days of inventory decreased 3 days to 77 days.

Current Assets
(Amount: NT$ billion)	1Q25	4Q24	1Q24
Cash and Cash Equivalents	106.35	105.00	119.43
Accounts Receivable	34.80	33.34	30.68
Days Sales Outstanding	54	51	50
Inventories, net	35.43	35.78	34.59
Days of Inventory	77	80	85
Total Current Assets	192.32	189.68	205.16

Current liabilities decreased to NT$72.87 billion. Long-term credit/bonds decreased to NT$44.63 billion. Total liabilities decreased to NT$182.13 billion, leading to a debt to equity ratio of 47%.

Liabilities
(Amount: NT$ billion)	1Q25		4Q24		1Q24
Total Current Liabilities	72.87		75.26		88.40
Accounts Payable	9.27		7.63		7.46
Short-Term Credit / Bonds	17.63		19.51		25.60
Payables on Equipment	8.46		10.52		13.97
Other	37.51		37.60		41.37
Long-Term Credit / Bonds	44.63		55.53		43.45
Total Liabilities	182.13		192.02		188.85
Debt to Equity	47	%	51	%	50	%

Analysis of Revenue²

Revenue from Asia Pacific increased to 66%, while business from North America was 22% of sales. Business from Europe decreased to 7%, while contribution from Japan was 5%.

Revenue Breakdown by Region
Region	1Q25			4Q24			3Q24			2Q24			1Q24
North America		22	%		25	%		26	%		25	%		25	%
Asia Pacific		66	%		61	%		65	%		64	%		63	%
Europe		7	%		11	%		5	%		7	%		8	%
Japan		5	%		3	%		4	%		4	%		4	%

Revenue contribution from 22/28nm increased to 37% of wafer revenue, while 40nm contribution remained at 16% of sales.

Revenue Breakdown by Geometry
Geometry	1Q25			4Q24			3Q24			2Q24			1Q24
14nm and below		0	%		0	%		0	%		0	%		0	%
14nm<x<=28nm		37	%		34	%		35	%		33	%		33	%
28nm<x<=40nm		16	%		16	%		13	%		12	%		14	%
40nm<x<=65nm		16	%		16	%		15	%		15	%		18	%
65nm<x<=90nm		8	%		11	%		10	%		12	%		10	%
90nm<x<=0.13um		7	%		10	%		10	%		11	%		9	%
0.13um<x<=0.18um		10	%		9	%		11	%		10	%		11	%
0.18um<x<=0.35um		5	%		4	%		5	%		5	%		4	%
0.5um and above		1	%		0	%		1	%		2	%		1	%

Revenue from fabless customers accounted for 82% of revenue.

Revenue Breakdown by Customer Type
Customer Type	1Q25			4Q24			3Q24			2Q24			1Q24
Fabless		82	%		84	%		85	%		87	%		82	%
IDM		18	%		16	%		15	%		13	%		18	%

Revenue from the communication segment accounted for 40%, while business from computer applications was 11% of sales. Business from consumer applications increased to 34%, while other segments was 15% of revenue.

Revenue Breakdown by Application ⁽¹⁾
Application	1Q25			4Q24			3Q24			2Q24			1Q24
Computer		11	%		13	%		13	%		15	%		13	%
Communication		40	%		39	%		42	%		39	%		48	%
Consumer		34	%		29	%		31	%		31	%		23	%
Others		15	%		19	%		14	%		15	%		16	%

⁽¹⁾ Computer consists of ICs such as CPU, GPU, HDD controllers, DVD/CD-RW control ICs, PC chipset, audio codec, keyboard controller, monitor scaler, USB, I/O chipset, WLAN. Communication consists of handset components, broadband, bluetooth, Ethernet, LAN, DSP, etc. Consumer consists of ICs used for DVD players, DTV, STB, MP3/MP4, flash controller, game consoles, DSC, smart cards, toys, etc.

Blended ASP Trend

Blended average selling price (ASP) declined in 1Q25.

(To view blended ASP trend, please click here for 1Q25 ASP)

Shipment and Utilization Rate³

Wafer shipments remained flat, accounting for 910K in the first quarter, while quarterly capacity was 1,264K. Overall utilization rate in 1Q25 slightly declined to 69%.

Wafer Shipments
	1Q25			4Q24			3Q24			2Q24			1Q24
Wafer Shipments (12" K equivalents)		910			909			896			831			810

Quarterly Capacity Utilization Rate
	1Q25			4Q24			3Q24			2Q24			1Q24
Utilization Rate		69	%		70	%		71	%		68	%		65	%
Total Capacity (12" K equivalents)		1,264			1,280			1,274			1,257			1,212

Capacity⁴

Total capacity in the first quarter decreased to 1,264K 12-inch equivalent wafers. Capacity will grow in the second quarter of 2025 to 1,290K 12-inch equivalent wafers.

Annual Capacity in																Quarterly Capacity in
*thousands of wafers*																*thousands of wafers*
FAB		Geometry (um)		2024			2023			2022			2021			FAB		2Q25E		1Q25		4Q24		3Q24
WTK	6"		5 – 0.15		331			328			335			329		WTK	6"		80		78		83		83
8A	8"		3 – 0.11		829			811			765			755		8A	8"		215		212		207		207
8C	8"		0.35 – 0.11		477			473			459			459		8C	8"		125		123		119		119
8D	8"		0.18 – 0.09		473			440			410			380		8D	8"		118		116		118		118
8E	8"		0.6 – 0.14		524			490			469			457		8E	8"		131		129		131		131
8F	8"		0.18 – 0.11		578			570			550			514		8F	8"		146		144		145		145
8S	8"		0.18 – 0.11		455			447			443			408		8S	8"		117		115		114		114
8N	8"		0.5 – 0.11		1,013			996			952			917		8N	8"		250		246		254		254
12A	12"		0.13 – 0.014		1,556			1,305			1,170			1,070		12A	12"		409		402		409		403
12i	12"		0.13 – 0.040		678			655			655			641		12i	12"		172		169		172		172
12X	12"		0.080 – 0.022		318			317			314			284		12X	12"		80		78		80		80
12M	12"		0.13 – 0.040		455			438			436			395		12M	12"		119		113		115		115
Total⁽¹⁾					5,022			4,674			4,458			4,201		Total			1,290		1,264		1,280		1,274
YoY Growth Rate					7	%		5	%		6	%		3	%

⁽¹⁾One 6-inch wafer is converted into 0.25 (6²/12²) 12-inch equivalent wafer; one 8-inch wafer is converted into 0.44 (8²/12²) 12-inch equivalent wafers. Total capacity figures are expressed in 12-inch equivalent wafers.

CAPEX

CAPEX spending in 1Q25 totaled US$443 million. 2025 cash-based CAPEX budget will be US$1.8 billion.

Capital Expenditure by Year - in US$ billion
Year	2024			2023			2022			2021			2020
CAPEX		$	2.9		$	3.0		$	2.7		$	1.8		$	1.0

2025 CAPEX Plan
8"		12"			Total
10%		90%			US$1.8 billion

Second Quarter 2025 Outlook & Guidance

Quarter-over-Quarter Guidance:

Wafer Shipments: Will increase by 5-7%
ASP in USD: Will remain flat
Gross Profit Margin: Will be approximately 30%
Capacity Utilization: mid-70% range
2025 CAPEX: US$1.8 billion

Recent Developments / Announcements

Jan. 14, 2025		UMC's Flagship Fab Designated One of 189 Smart Manufacturing Lighthouses by the World Economic Forum
Feb. 10, 2025		UMC Recognized with Double ‘A' score for Climate Change and Water Security Leadership in CDP A List for Three Consecutive Years
Feb. 14, 2025		UMC Ranks Top 1% in the Semiconductor Industry in S&P Global Sustainability Yearbook 2025
Feb. 26, 2025		UMC Board of Directors Announces Proposals for its Annual Shareholders Meeting
Apr. 01, 2025		UMC Unveils New Fab Expansion in Singapore in Grand Opening Ceremony

Please visit UMC's website for further details regarding the above announcements

Conference Call / Webcast Announcement

Wednesday, April 23, 2025

Time: 5:00 PM (Taipei) / 5:00 AM (New York) / 10:00 AM (London)

Dial-in numbers and Access Codes:
Taiwan Number:		02 3396 1191
Taiwan Toll Free:		0080 119 6666
US Toll Free:		+1 866 212 5567
Other Areas:		+886 2 3396 1191

Access Code:		3707023#

A live webcast and replay of the 1Q25 results announcement will be available at www.umc.com under the "Investors / Events" section.

About UMC

UMC (NYSE:UMC, TWSE: 2303)) is a leading global semiconductor foundry company. The company provides high-quality IC fabrication services, focusing on logic and various specialty technologies to serve all major sectors of the electronics industry. UMC's comprehensive IC processing technologies and manufacturing solutions include Logic/Mixed-Signal, embedded High-Voltage, embedded Non-Volatile-Memory, RFSOI, BCD etc. Most of UMC's 12-in and 8-in fabs with its core R&D are in Taiwan, with additional ones throughout Asia. UMC has a total of 12 fabs in production with a combined capacity of more than 400,000 wafers per month (12-in equivalent), and all of them are certified with IATF 16949 automotive quality standards. UMC is headquartered in Hsinchu, Taiwan, plus local offices in the United States, Europe, China, Japan, Korea, and Singapore, with a worldwide total of 20,000 employees. For more information, please visit: http://www.umc.com.

Safe Harbor Statements

This press release contains forward-looking statements within the meaning of Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended, and as defined in the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements regarding anticipated financial results for the first quarter of 2025; the expected wafer shipment and ASP; the anticipated annual budget; capex strategies; environmental protection goals and water management strategies; impact of foreign currency exchange rates; expected foundry capacities; the ability to obtain new business opportunities; and information under the heading "Second Quarter 2025 Outlook and Guidance."

These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual performance, financial condition or results of operations of UMC to be materially different from what is stated or may be implied in such forward-looking statements. Investors are cautioned that actual events and results could differ materially from those statements as a result of a number of factors including, but not limited to: (i) dependence upon the frequent introduction of new services and technologies based on the latest developments in the industry in which UMC operates; (ii) the intensely competitive semiconductor, communications, consumer electronics and computer industries and markets; (iii) the risks associated with international business activities; (iv) dependence upon key personnel; (v) general economic and political conditions; (vi) possible disruptions in commercial activities caused by natural and human-induced events and disasters, including natural disasters, terrorist activity, armed conflict and highly contagious diseases; (vii) reduced end-user purchases relative to expectations and orders; and (viii) fluctuations in foreign currency exchange rates. Further information regarding these and other risk factors is included in UMC's filings with the United States Securities and Exchange Commission, including its Annual Report on Form 20-F. All information provided in this release is as of the date of this release and are based on assumptions that UMC believes to be reasonable as of this date, and UMC does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.

The financial statements included in this release are prepared and published in accordance with Taiwan International Financial Reporting Standards, or TIFRSs, recognized by the Financial Supervisory Commission in the ROC, which is different from International Financial Reporting Standards, or IFRSs, issued by the International Accounting Standards Board. Investors are cautioned that there may be significant differences between TIFRSs and IFRSs. In addition, TIFRSs and IFRSs differ in certain significant respects from generally accepted accounting principles in the ROC and generally accepted accounting principles in the United States.

- FINANCIAL TABLES TO FOLLOW -

UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES
Consolidated Condensed Balance Sheet
As of March 31, 2025
Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$)


	March 31, 2025
	US$	NT$	%
Assets
Current assets
Cash and cash equivalents	3,205	106,354	18.6	%
Accounts receivable, net	1,049	34,801	6.1	%
Inventories, net	1,068	35,425	6.2	%
Other current assets	475	15,744	2.8	%
Total current assets	5,796	192,323	33.6	%

Non-current assets
Funds and investments	2,152	71,407	12.5	%
Property, plant and equipment	8,501	282,051	49.2	%
Right-of-use assets	240	7,948	1.4	%
Other non-current assets	580	19,233	3.4	%
Total non-current assets	11,472	380,639	66.4	%
Total assets	17,268	572,962	100.0	%

Liabilities
Current liabilities
Short-term loans	196	6,500	1.1	%
Payables	1,327	44,018	7.7	%
Current portion of long-term liabilities	336	11,132	1.9	%
Other current liabilities	338	11,224	2.0	%
Total current liabilities	2,196	72,873	12.7	%

Non-current liabilities
Bonds payable	741	24,586	4.3	%
Long-term loans	604	20,041	3.5	%
Lease liabilities, noncurrent	172	5,700	1.0	%
Other non-current liabilities	1,776	58,933	10.3	%
Total non-current liabilities	3,293	109,260	19.1	%
Total liabilities	5,489	182,134	31.8	%

Equity
Equity attributable to the parent company
Capital	3,785	125,584	21.9	%
Additional paid-in capital	452	14,995	2.6	%
Retained earnings and other components of equity	7,535	250,026	43.6	%
Total equity attributable to the parent company	11,772	390,605	68.2	%
Non-controlling interests	7	224	0.0	%
Total equity	11,779	390,829	68.2	%
Total liabilities and equity	17,268	572,962	100.0	%

Notes:
(1) New Taiwan Dollars have been translated into U.S. Dollars at the March 31, 2025 exchange rate of NT $33.18 per U.S. Dollar.
(2) Sums may not equal totals due to rounding.

UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES
Consolidated Condensed Statements of Comprehensive Income
Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$)
Except Per Share and Per ADS Data

	Year over Year Comparison								Quarter over Quarter Comparison
	Three-Month Period Ended								Three-Month Period Ended
	March 31, 2025				March 31, 2024		Chg.		March 31, 2025				December 31, 2024		Chg.
	US$		NT$		NT$		%		US$		NT$		NT$		%
Operating revenues	1,744		57,859		54,632		5.9	%	1,744		57,859		60,386		(4.2	%)
Operating costs	(1,278	)	(42,412	)	(37,733	)	12.4	%	(1,278	)	(42,412	)	(42,043	)	0.9	%
Gross profit	466		15,447		16,899		(8.6	%)	466		15,447		18,343		(15.8	%)
	26.7	%	26.7	%	30.9	%			26.7	%	26.7	%	30.4	%
Operating expenses
- Sales and marketing expenses	(19	)	(619	)	(684	)	(9.5	%)	(19	)	(619	)	(623	)	(0.7	%)
- General and administrative expenses	(46	)	(1,542	)	(1,702	)	(9.4	%)	(46	)	(1,542	)	(1,791	)	(13.9	%)
- Research and development expenses	(119	)	(3,964	)	(3,407	)	16.3	%	(119	)	(3,964	)	(4,334	)	(8.5	%)
- Expected credit impairment gain	0		2		46		(94.7	%)	0		2		0		523.3	%
Subtotal	(185	)	(6,123	)	(5,747	)	6.5	%	(185	)	(6,123	)	(6,748	)	(9.3	%)
Net other operating income and expenses	14		462		513		(9.9	%)	14		462		362		27.6	%
Operating income	295		9,786		11,665		(16.1	%)	295		9,786		11,957		(18.2	%)
	16.9	%	16.9	%	21.4	%			16.9	%	16.9	%	19.8	%

Net non-operating income and expenses	(13	)	(439	)	1,056		-		(13	)	(439	)	(1,443	)	(69.5	%)
Income from continuing operations before income tax	282		9,347		12,721		(26.5	%)	282		9,347		10,514		(11.1	%)
	16.2	%	16.2	%	23.3	%			16.2	%	16.2	%	17.4	%

Income tax expense	(48	)	(1,603	)	(2,291	)	(30.0	%)	(48	)	(1,603	)	(2,054	)	(22.0	%)
Net income	233		7,743		10,430		(25.8	%)	233		7,743		8,460		(8.5	%)
	13.4	%	13.4	%	19.1	%			13.4	%	13.4	%	14.0	%

Other comprehensive income (loss)	135		4,489		7,954		(43.6	%)	135		4,489		1,270		253.4	%

Total comprehensive income (loss)	369		12,232		18,384		(33.5	%)	369		12,232		9,730		25.7	%

Net income attributable to:
Shareholders of the parent	234		7,777		10,456		(25.6	%)	234		7,777		8,497		(8.5	%)
Non-controlling interests	(1	)	(34	)	(26	)	26.2	%	(1	)	(34	)	(37	)	(9.2	%)

Comprehensive income (loss) attributable to:
Shareholders of the parent	370		12,266		18,410		(33.4	%)	370		12,266		9,767		25.6	%
Non-controlling interests	(1	)	(33	)	(26	)	26.3	%	(1	)	(33	)	(37	)	(9.3	%)

Earnings per share-basic	0.019		0.62		0.84				0.019		0.62		0.68
Earnings per ADS ⁽²⁾	0.093		3.10		4.20				0.093		3.10		3.40
Weighted average number of shares
outstanding (in millions)			12,485		12,414						12,485		12,481


Notes:
(1) New Taiwan Dollars have been translated into U.S. Dollars at the March 31, 2025 exchange rate of NT $33.18 per U.S. Dollar.
(2) 1 ADS equals 5 common shares.
(3) Sums may not equal totals due to rounding.

UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES
Consolidated Condensed Statements of Comprehensive Income
Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$)
Except Per Share and Per ADS Data

	For the Three-Month Period Ended						For the Three-Month Period Ended
	March 31, 2025						March 31, 2025
	US$		NT$		%		US$		NT$		%
Operating revenues	1,744		57,859		100.0	%	1,744		57,859		100.0	%
Operating costs	(1,278	)	(42,412	)	(73.3	%)	(1,278	)	(42,412	)	(73.3	%)
Gross profit	466		15,447		26.7	%	466		15,447		26.7	%


Operating expenses
- Sales and marketing expenses	(19	)	(619	)	(1.1	%)	(19	)	(619	)	(1.1	%)
- General and administrative expenses	(46	)	(1,542	)	(2.7	%)	(46	)	(1,542	)	(2.7	%)
- Research and development expenses	(119	)	(3,964	)	(6.9	%)	(119	)	(3,964	)	(6.9	%)
- Expected credit impairment gain	0		2		0.0	%	0		2		0.0	%
Subtotal	(185	)	(6,123	)	(10.6	%)	(185	)	(6,123	)	(10.6	%)
Net other operating income and expenses	14		462		0.8	%	14		462		0.8	%
Operating income	295		9,786		16.9	%	295		9,786		16.9	%

Net non-operating income and expenses	(13	)	(439	)	(0.8	%)	(13	)	(439	)	(0.8	%)
Income from continuing operations before income tax	282		9,347		16.2	%	282		9,347		16.2	%


Income tax expense	(48	)	(1,603	)	(2.8	%)	(48	)	(1,603	)	(2.8	%)
Net income	233		7,743		13.4	%	233		7,743		13.4	%

Other comprehensive income (loss)	135		4,489		7.8	%	135		4,489		7.8	%

Total comprehensive income (loss)	369		12,232		21.1	%	369		12,232		21.1	%

Net income attributable to:
Shareholders of the parent	234		7,777		13.4	%	234		7,777		13.4	%
Non-controlling interests	(1	)	(34	)	(0.1	%)	(1	)	(34	)	(0.1	%)

Comprehensive income (loss) attributable to:
Shareholders of the parent	370		12,266		21.2	%	370		12,266		21.2	%
Non-controlling interests	(1	)	(33	)	(0.1	%)	(1	)	(33	)	(0.1	%)

Earnings per share-basic	0.019		0.62				0.019		0.62
Earnings per ADS ⁽²⁾	0.093		3.10				0.093		3.10

Weighted average number of shares outstanding (in millions)			12,485						12,485

Notes:
(1) New Taiwan Dollars have been translated into U.S. Dollars at the March 31, 2025 exchange rate of NT $33.18 per U.S. Dollar.
(2) 1 ADS equals 5 common shares.
(3) Sums may not equal totals due to rounding.

UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES
Consolidated Condensed Statement of Cash Flows
For The Three-Month Period Ended March 31, 2025
Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$)

	US$		NT$
Cash flows from operating activities :
Net income before tax	282		9,347
Depreciation & Amortization	426		14,128
Share of loss of associates and joint ventures	6		208
Income tax paid	(18	)	(585	)
Changes in working capital & others	22		728
Net cash provided by operating activities	718		23,826

Cash flows from investing activities :
Acquisition of property, plant and equipment	(427	)	(14,153	)
Acquisition of intangible assets	(10	)	(329	)
Others	120		3,976
Net cash used in investing activities	(317	)	(10,506	)

Cash flows from financing activities :
Decrease in short-term loans	(61	)	(2,015	)
Proceeds from long-term loans	39		1,300
Repayments of long-term loans	(371	)	(12,303	)
Others	(23	)	(758	)
Net cash used in financing activities	(415	)	(13,776	)

Effect of exchange rate changes on cash and cash equivalents	55		1,810
Net increase in cash and cash equivalents	41		1,354

Cash and cash equivalents at beginning of period	3,165		105,000

Cash and cash equivalents at end of period	3,205		106,354

Notes:
(1) New Taiwan Dollars have been translated into U.S. Dollars at the March 31, 2025 exchange rate of NT $33.18 per U.S. Dollar.
(2) Sums may not equal totals due to rounding.

¹ Unless otherwise stated, all financial figures discussed in this announcement are prepared in accordance with TIFRSs recognized by Financial Supervisory Commission in the ROC, which is different from IFRSs issued by the International Accounting Standards Board. They represent comparisons among the three-month period ending March 31, 2025, the three-month period ending December 31, 2024, and the equivalent three-month period that ended March 31, 2024. For all 1Q25 results, New Taiwan Dollar (NT$) amounts have been converted into U.S. Dollars at the March 31, 2025 exchange rate of NT$ 33.18 per U.S. Dollar.

² Revenue in this section represents wafer sales

³ Utilization Rate = Quarterly Wafer Out / Quarterly Capacity

⁴ Estimated capacity numbers are based on calculated maximum output rather than designed capacity. The actual capacity numbers may differ depending upon equipment delivery schedules, pace of migration to more advanced process technologies, and other factors affecting production ramp-up.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250423806399/en/

Michael Lin / David Wong

UMC, Investor Relations

+ 886-2-2658-9168, ext. 16900

jinhong_lin@umc.com

david_wong@umc.com

UMC Reports First Quarter 2025 Results