Hsinchu, Taiwan, May 05, 2023 -Sino-American Silicon Products Inc. (SAS) today (5/5) held the Board meeting and approved Q1 2023 earnings results. Q1 2023 consolidated revenue totaled NT$20.9 billion with YoY 11.4%, reaching the highest record for the same period of the year. Q123 gross profit of NT$7.6 billion, with YoY increase of 1.7%, gross profit margin of 36.3%; operating income of NT$5.8 billion, YoY -6.6%, with operating income margin of 27.7%; pre-tax income of NT$6.6 billion, with YoY 840%, pre-tax income margin of 31.6%; net income of NT$4.7 billion, with YoY 119.4%, net income margin of 22.6%; net income attributed to the parent company NT$2.5 billion, with YoY 95.2%, net income attributed to the parent company margin of 11.8%, and EPS of NT$4.21. Its semiconductor subsidiary, GlobalWafers (GWC), Q123 consolidated revenue totaled NT$18.6 billion, breaking the record high! GWC Q123 gross profit of NT$7.6 billion, operating income of NT$6.1 billion, net income of NT$5 billion, and EPS of NT$11.49.


Today the Board of Directors also approved the cash dividend payment plan for the second half of 2022 and resolved to distribute a cash dividend of NT$5.8 per share, with a total amount of NT$3.4 billion for the second half of 2022. If the cash dividend of NT$3.2 per share with a total amount of NT$1.88 billion distributed in the first half is included, an annual cash dividend of NT$9 per share (NT$8.17 per share from earnings and NT$0.83 per share from capital reserve) with total annual amount of NT$5.28 billion is distributed throughout 2022. The dividend payout ratio is as high as 60.52%! SAS Annual General Shareholders' Meeting will be convened at 9 a.m. on June 21 at the Hsinchu Science Park Life Hub, Taiwan.


With the world is squarely focused on climate change issues, governments around the world are pushing for the net zero goal to reduce carbon emissions and protect the environment. The European Union has reached a deal recently on higher renewable energy targets, committed to get 42.5% of its energy from renewable sources by 2030, to mitigate the dependence on imported fuels as to fight the extreme weather events. Besides, the EU would plan to levy taxes on imported carbon-intensive goods to encourage more companies' adoption of clean energy. Taiwan will promote its Bureau of Energy to "Energy Agency," with expectations that more resources and official support will be invested in developing the green energy industry.


To be well-positioned in the trend of clean energy, SAS's subsidiary, Aleo, has taken the initiative in expanding its capacity of solar modules in Germany. In addition to seize the business opportunity of energy transition in Europe, SAS has also completed to enhance the high-performance cell products in Taiwan, in the meantime, actively investing in power plant installations, energy storage and the green energy-related layouts. The SAS group will further deepen its footprint in the renewable energy value chain and continue to consolidate its competitive position in the industry.


The results of the ninth (2022) Corporate Governance Evaluation are announced. SAS is once again awarded top 5% among all listed companies. This is SAS's 9th consecutive award, presenting the Company's long-term commitment to high-standard discipline. SAS will continue to adhere to the excellent performance and the improvement of corporate governance.

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Sino-American Silicon Products Inc. published this content on 05 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 May 2023 07:38:05 UTC.