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, 2020 |
||||||
Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$) |
||||||
March 31, 2020 |
||||||
US$ |
NT$ |
% |
||||
| Assets | ||||||
| Current assets | ||||||
| Cash and cash equivalents | 3,148 |
|
95,166 |
|
26.4 |
% |
| Notes & Accounts receivable, net | 945 |
|
28,569 |
|
7.9 |
% |
| Inventories, net | 732 |
|
22,126 |
|
6.1 |
% |
| Other current assets | 454 |
|
13,734 |
|
3.9 |
% |
| Total current assets | 5,279 |
|
159,595 |
|
44.3 |
% |
| Non-current assets | ||||||
| Funds and investments | 1,187 |
|
35,887 |
|
10.0 |
% |
| Property, plant and equipment | 4,669 |
|
141,151 |
|
39.2 |
% |
| Right-of-use assets | 265 |
|
7,998 |
|
2.2 |
% |
| Other non-current assets | 524 |
|
15,826 |
|
4.3 |
% |
| Total non-current assets | 6,645 |
|
200,862 |
|
55.7 |
% |
| Total assets | 11,924 |
|
360,457 |
|
100.0 |
% |
| Liabilities | ||||||
| Current liabilities | ||||||
| Short-term loans | 312 |
|
9,432 |
|
2.6 |
% |
| Payables | 912 |
|
27,584 |
|
7.7 |
% |
| Current portion of long-term liabilities | 527 |
|
15,919 |
|
4.4 |
% |
| Other current liabilities | 270 |
|
8,169 |
|
2.2 |
% |
| Total current liabilities | 2,021 |
|
61,104 |
|
16.9 |
% |
| Non-current liabilities | ||||||
| Bonds payable | 618 |
|
18,688 |
|
5.2 |
% |
| Long-term loans | 961 |
|
29,059 |
|
8.1 |
% |
| Lease liabilities, noncurrent | 171 |
|
5,170 |
|
1.4 |
% |
| Other non-current liabilities | 1,179 |
|
35,616 |
|
9.9 |
% |
| Total non-current liabilities | 2,929 |
|
88,533 |
|
24.6 |
% |
| Total liabilities | 4,950 |
|
149,637 |
|
41.5 |
% |
| Equity | ||||||
| Equity attributable to the parent company | ||||||
| Capital | 4,043 |
|
122,224 |
|
33.9 |
% |
| Additional paid-in capital | 1,368 |
|
41,345 |
|
11.5 |
% |
| Retained earnings, exchange differences on translation of
foreign operations and unrealized gains or losses on financial assets measured at fair value through other comprehensive income |
1,565 |
|
47,302 |
|
13.1 |
% |
| Treasury stock | (4 |
) |
(120 |
) |
(0.0 |
%) |
| Total equity attributable to the parent company | 6,972 |
|
210,751 |
|
58.5 |
% |
| Non-controlling interests | 2 |
|
69 |
|
0.0 |
% |
| Total equity | 6,974 |
|
210,820 |
|
58.5 |
% |
| Total liabilities and equity | 11,924 |
|
360,457 |
|
100.0 |
% |
| Note：New Taiwan Dollars have been translated into U.S. Dollars at the March 31, 2020 exchange rate of NT $30.23 per U.S. Dollar.
|
| UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES |
|||||||||||||||||||||||||||||
| Consolidated Condensed Statements of Comprehensive Income |
|||||||||||||||||||||||||||||
| Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$) |
|||||||||||||||||||||||||||||
| Except Per Share and Per ADS Data |
|||||||||||||||||||||||||||||
| Year over Year Comparison |
Quarter over Quarter Comparison |
||||||||||||||||||||||||||||
| Three-Month Period Ended |
Three-Month Period Ended |
||||||||||||||||||||||||||||
| March 31, 2020 |
March 31, 2019 |
Chg. |
March 31, 2020 |
December 31, 2019 |
Chg. |
||||||||||||||||||||||||
| US$ | NT$ | US$ | NT$ | % | US$ | NT$ | US$ | NT$ | % | ||||||||||||||||||||
| Operating revenues | 1,398 |
|
42,268 |
|
1,078 |
|
32,583 |
|
29.7 |
% |
1,398 |
|
42,268 |
|
1,384 |
|
41,849 |
|
1.0 |
% |
|||||||||
| Operating costs | (1,129 |
) |
(34,146 |
) |
(1,003 |
) |
(30,321 |
) |
12.6 |
% |
(1,129 |
) |
(34,146 |
) |
(1,154 |
) |
(34,881 |
) |
(2.1 |
%) |
|||||||||
| Gross profit | 269 |
|
8,122 |
|
75 |
|
2,262 |
|
259.1 |
% |
269 |
|
8,122 |
|
230 |
|
6,968 |
|
16.6 |
% |
|||||||||
| 19.2 |
% |
19.2 |
% |
6.9 |
% |
6.9 |
% |
19.2 |
% |
19.2 |
% |
16.7 |
% |
16.7 |
% |
||||||||||||||
| Operating expenses | |||||||||||||||||||||||||||||
| - Sales and marketing expenses | (34 |
) |
(1,040 |
) |
(29 |
) |
(889 |
) |
17.0 |
% |
(34 |
) |
(1,040 |
) |
(33 |
) |
(996 |
) |
4.3 |
% |
|||||||||
| - General and administrative expenses | (52 |
) |
(1,543 |
) |
(41 |
) |
(1,236 |
) |
24.8 |
% |
(52 |
) |
(1,543 |
) |
(53 |
) |
(1,603 |
) |
(3.7 |
%) |
|||||||||
| - Research and development expenses | (105 |
) |
(3,185 |
) |
(93 |
) |
(2,807 |
) |
13.5 |
% |
(105 |
) |
(3,185 |
) |
(114 |
) |
(3,453 |
) |
(7.8 |
%) |
|||||||||
| - Expected credit impairment gain (loss) | 2 |
|
46 |
|
- |
|
- |
|
100.0 |
% |
2 |
|
46 |
|
(4 |
) |
(113 |
) |
- |
|
|||||||||
| Subtotal | (189 |
) |
(5,722 |
) |
(163 |
) |
(4,932 |
) |
16.0 |
% |
(189 |
) |
(5,722 |
) |
(204 |
) |
(6,165 |
) |
(7.2 |
%) |
|||||||||
| Net other operating income and expenses | 33 |
|
1,014 |
|
35 |
|
1,073 |
|
(5.5 |
%) |
33 |
|
1,014 |
|
41 |
|
1,215 |
|
(16.5 |
%) |
|||||||||
| Operating income (loss) | 113 |
|
3,414 |
|
(53 |
) |
(1,597 |
) |
- |
|
113 |
|
3,414 |
|
67 |
|
2,018 |
|
69.2 |
% |
|||||||||
| 8.1 |
% |
8.1 |
% |
(4.9 |
%) |
(4.9 |
%) |
8.1 |
% |
8.1 |
% |
4.8 |
% |
4.8 |
% |
||||||||||||||
| Net non-operating income and expenses | (86 |
) |
(2,592 |
) |
41 |
|
1,247 |
|
- |
|
(86 |
) |
(2,592 |
) |
31 |
|
946 |
|
- |
|
|||||||||
| Income (loss) from continuing operations
before income tax |
27 |
|
822 |
|
(12 |
) |
(350 |
) |
- |
|
27 |
|
822 |
|
98 |
|
2,964 |
|
(72.3 |
%) |
|||||||||
| 1.9 |
% |
1.9 |
% |
(1.1 |
%) |
(1.1 |
%) |
1.9 |
% |
1.9 |
% |
7.1 |
% |
7.1 |
% |
||||||||||||||
| Income tax benefit | 14 |
|
408 |
|
15 |
|
443 |
|
(7.7 |
%) |
14 |
|
408 |
|
6 |
|
191 |
|
113.9 |
% |
|||||||||
| Net income | 41 |
|
1,230 |
|
3 |
|
93 |
|
1,228.5 |
% |
41 |
|
1,230 |
|
104 |
|
3,155 |
|
(61.0 |
%) |
|||||||||
| 2.9 |
% |
2.9 |
% |
0.3 |
% |
0.3 |
% |
2.9 |
% |
2.9 |
% |
7.5 |
% |
7.5 |
% |
||||||||||||||
| Other comprehensive income (loss) | (123 |
) |
(3,714 |
) |
120 |
|
3,614 |
|
- |
|
(123 |
) |
(3,714 |
) |
(51 |
) |
(1,538 |
) |
141.5 |
% |
|||||||||
| Total comprehensive income (loss) | (82 |
) |
(2,484 |
) |
123 |
|
3,707 |
|
- |
|
(82 |
) |
(2,484 |
) |
53 |
|
1,617 |
|
- |
|
|||||||||
| Net income attributable to: | |||||||||||||||||||||||||||||
| Stockholders of the parent | 73 |
|
2,207 |
|
40 |
|
1,201 |
|
83.7 |
% |
73 |
|
2,207 |
|
127 |
|
3,837 |
|
(42.5 |
%) |
|||||||||
| Non-controlling interests | (32 |
) |
(977 |
) |
(37 |
) |
(1,108 |
) |
(11.9 |
%) |
(32 |
) |
(977 |
) |
(23 |
) |
(682 |
) |
43.3 |
% |
|||||||||
| Comprehensive income (loss) attributable to: | |||||||||||||||||||||||||||||
| Stockholders of the parent | (54 |
) |
(1,634 |
) |
159 |
|
4,813 |
|
- |
|
(54 |
) |
(1,634 |
) |
76 |
|
2,291 |
|
- |
|
|||||||||
| Non-controlling interests | (28 |
) |
(850 |
) |
(36 |
) |
(1,106 |
) |
(23.1 |
%) |
(28 |
) |
(850 |
) |
(23 |
) |
(674 |
) |
26.2 |
% |
|||||||||
| Earnings per share-basic | 0.006 |
|
0.19 |
|
0.003 |
|
0.10 |
|
0.006 |
|
0.19 |
|
0.011 |
|
0.33 |
|
|||||||||||||
| Earnings per ADS (2) | 0.031 |
|
0.95 |
|
0.017 |
|
0.50 |
|
0.031 |
|
0.95 |
|
0.055 |
|
1.65 |
|
|||||||||||||
| Weighted average number of shares | |||||||||||||||||||||||||||||
| outstanding (in millions) | 11,783 |
|
11,909 |
|
11,783 |
|
11,709 |
|
|||||||||||||||||||||
| Notes: |
| (1) New Taiwan Dollars have been translated into U.S. Dollars at the March 31, 2020 exchange rate of NT $30.23 per U.S. Dollar. |
| (2) 1 ADS equals 5 common shares. |
| UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES |
|||||||||||||||||
| Consolidated Condensed Statements of Comprehensive Income |
|||||||||||||||||
| Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$) |
|||||||||||||||||
| Except Per Share and Per ADS Data |
|||||||||||||||||
| For the Three-Month Period Ended |
For the Three-Month Period Ended |
||||||||||||||||
| March 31, 2020 |
March 31, 2020 |
||||||||||||||||
| US$ |
NT$ |
% |
US$ |
NT$ |
% | ||||||||||||
| Operating revenues | 1,398 |
|
42,268 |
|
100.0 |
% |
1,398 |
|
42,268 |
|
100.0 |
% |
|||||
| Operating costs | (1,129 |
) |
(34,146 |
) |
(80.8 |
%) |
(1,129 |
) |
(34,146 |
) |
(80.8 |
%) |
|||||
| Gross profit | 269 |
|
8,122 |
|
19.2 |
% |
269 |
|
8,122 |
|
19.2 |
% |
|||||
| Operating expenses | |||||||||||||||||
| - Sales and marketing expenses | (34 |
) |
(1,040 |
) |
(2.5 |
%) |
(34 |
) |
(1,040 |
) |
(2.5 |
%) |
|||||
| - General and administrative expenses | (52 |
) |
(1,543 |
) |
(3.6 |
%) |
(52 |
) |
(1,543 |
) |
(3.6 |
%) |
|||||
| - Research and development expenses | (105 |
) |
(3,185 |
) |
(7.5 |
%) |
(105 |
) |
(3,185 |
) |
(7.5 |
%) |
|||||
| - Expected credit impairment gain | 2 |
|
46 |
|
0.1 |
% |
2 |
|
46 |
|
0.1 |
% |
|||||
| Subtotal | (189 |
) |
(5,722 |
) |
(13.5 |
%) |
(189 |
) |
(5,722 |
) |
(13.5 |
%) |
|||||
| Net other operating income and expenses | 33 |
|
1,014 |
|
2.4 |
% |
33 |
|
1,014 |
|
2.4 |
% |
|||||
| Operating income | 113 |
|
3,414 |
|
8.1 |
% |
113 |
|
3,414 |
|
8.1 |
% |
|||||
| Net non-operating income and expenses | (86 |
) |
(2,592 |
) |
(6.2 |
%) |
(86 |
) |
(2,592 |
) |
(6.2 |
%) |
|||||
| Income from continuing operations
before income tax |
27 |
|
822 |
|
1.9 |
% |
27 |
|
822 |
|
1.9 |
% |
|||||
| Income tax benefit | 14 |
|
408 |
|
1.0 |
% |
14 |
|
408 |
|
1.0 |
% |
|||||
| Net income | 41 |
|
1,230 |
|
2.9 |
% |
41 |
|
1,230 |
|
2.9 |
% |
|||||
| Other comprehensive income (loss) | (123 |
) |
(3,714 |
) |
(8.8 |
%) |
(123 |
) |
(3,714 |
) |
(8.8 |
%) |
|||||
| Total comprehensive income (loss) | (82 |
) |
(2,484 |
) |
(5.9 |
%) |
(82 |
) |
(2,484 |
) |
(5.9 |
%) |
|||||
| Net income attributable to: | |||||||||||||||||
| Stockholders of the parent | 73 |
|
2,207 |
|
5.2 |
% |
73 |
|
2,207 |
|
5.2 |
% |
|||||
| Non-controlling interests | (32 |
) |
(977 |
) |
(2.3 |
%) |
(32 |
) |
(977 |
) |
(2.3 |
%) |
|||||
| Comprehensive income (loss) attributable to: | |||||||||||||||||
| Stockholders of the parent | (54 |
) |
(1,634 |
) |
(3.9 |
%) |
(54 |
) |
(1,634 |
) |
(3.9 |
%) |
|||||
| Non-controlling interests | (28 |
) |
(850 |
) |
(2.0 |
%) |
(28 |
) |
(850 |
) |
(2.0 |
%) |
|||||
| Earnings per share-basic | 0.006 |
|
0.19 |
|
0.006 |
|
0.19 |
|
|||||||||
| Earnings per ADS (2) | 0.031 |
|
0.95 |
|
0.031 |
|
0.95 |
|
|||||||||
| Weighted average number of shares
outstanding (in millions) |
11,783 |
|
11,783 |
|
|||||||||||||
| Notes: |
| (1) New Taiwan Dollars have been translated into U.S. Dollars at the March 31, 2020 exchange rate of NT $30.23 per U.S. Dollar. |
| (2) 1 ADS equals 5 common shares. |
| UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES |
|||||
| Consolidated Condensed Statement of Cash Flows |
|||||
| For The Three-Month Period Ended March 31, 2020 |
|||||
| Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$) |
|||||
| US$ |
NT$ |
||||
| Cash flows from operating activities : | |||||
| Net income before tax | 27 |
|
822 |
|
|
| Depreciation & Amortization | 413 |
|
12,497 |
|
|
| Share of loss of associates and joint ventures | 28 |
|
847 |
|
|
| Changes in working capital & others | 19 |
|
566 |
|
|
| Net cash provided by operating activities | 487 |
|
14,732 |
|
|
| Cash flows from investing activities : | |||||
| Acquisition of property, plant and equipment | (120 |
) |
(3,631 |
) |
|
| Acquisition of intangible assets | (15 |
) |
(453 |
) |
|
| Increase in other financial assets | (169 |
) |
(5,114 |
) |
|
| Others | 3 |
|
87 |
|
|
| Net cash used in investing activities | (301 |
) |
(9,111 |
) |
|
| Cash flows from financing activities : | |||||
| Decrease in short-term loans | (84 |
) |
(2,544 |
) |
|
| Redemption of bonds | (83 |
) |
(2,500 |
) |
|
| Proceeds from long-term loans | 17 |
|
500 |
|
|
| Repayments of long-term loans | (17 |
) |
(519 |
) |
|
| Others | (26 |
) |
(786 |
) |
|
| Net cash used in financing activities | (193 |
) |
(5,849 |
) |
|
| Effect of exchange rate changes on cash and cash equivalents | (4 |
) |
(98 |
) |
|
| Net decrease in cash and cash equivalents | (11 |
) |
(326 |
) |
|
| Cash and cash equivalents at beginning of period | 3,159 |
|
95,492 |
|
|
| Cash and cash equivalents at end of period | 3,148 |
|
95,166 |
|
|
| Note: New Taiwan Dollars have been translated into U.S. Dollars at the March 31, 2020 exchange rate of NT $30.23 per U.S. Dollar. |
