Foundry leader TSMC (2330-TW) Today (15) held an online legal meeting. Despite the double rate quarterly reduction in the first quarter, the net profit per share of 5.39 yuan is still the second highest in history. In addition, the annual growth target, capital expenditure, and automotive chips are out of stock. Issues such as mature manufacturing processes are the focus of attention. “Juheng.com” sorted out the nine key points of this time, so that readers can understand them in one article.
Earning 5.39 yuan per share in the first quarter is the second highest in history
TSMC’s gross profit margin in the first quarter of this year was 52.4%, a quarterly decrease of 1.6%, and an annual increase of 0.6%. The profit rate was 41.5%, a quarterly decrease of 2%, and an annual increase of 0.1%. Although the double rate fell from the previous quarter, both The net profit after tax reached 139.69 billion yuan in a single quarter, a quarterly decrease of 2.2% and a year-on-year increase of 19.4%. The net profit per share was 5.39 yuan, the second highest in history.
Capital expenditures this year increased to 30 billionU.S. dollar
TSMC’s Chief Financial Officer Huang Renzhao said that due to the rising application trends of 5G and high-efficiency computing, in response to future demand growth, it was decided to increase capital expenditure this year to 30 billion.U.S. dollar, 80% of which will be used for advanced manufacturing processes such as 3nm, 5nm and 7nm, 10% will be used for mass production needs of advanced packaging technology, and 10% will be used for special manufacturing processes.
Q2 revenue quarterly growth of 2% will continue to hit a new high
TSMC announces second-quarter financial forecast figures, with revenue estimated to reach 12.5-13.2 billionU.S. dollar, A quarterly decrease of 0.15% to a quarterly increase of 2.17%, with a median of approximately 1.16%, which will continue to set new highs; U.S. dollarexchangeNew Taiwan Dollar 28.4 yuan calculation, the second quarterNew Taiwan DollarRevenue is estimated at 3,663-374.8 billion yuan, gross profit margin is estimated to be 49.5-51.5%, profit margin is estimated to be 38.5-40.5%, and both rates are down from the first quarter.
Huang Renzhao pointed out that the second-quarter financial estimates have already covered the impact of the power jump incident that occurred in the Nanke plant on the 14th. Thanks to efficient computing, continued strong demand for vehicles, and the slightly easing of smart seasonal effects, production capacity continues to be tight. However, the gross profit margin declined from the previous quarter due to factors such as 5nm mass production and full capacity, which led to the inability to further optimize costs.
This year’s foundry production value is estimated to increase by 16% TSMCU.S. dollarRevenue growth by 20%
Wei Zhejia predicts that the output value of the semiconductor industry (excluding memory) will grow by 12% this year, and the foundry output value is estimated to grow by 16%. TSMC’s advanced process technology maintains its leading position in the industry, and 5G mobile phones, efficient computing, automotive, and Internet of Things The momentum of other platforms is strong, and the demand for advanced processes is booming, which will be better than the industry average. It is estimated that this yearU.S. dollarRevenue will grow by 20%.
Mature process continues to be out of stock, new production capacity will be launched in 2023
Wei Zhejia pointed out that TSMC is witnessing a structural increase in potential demand for semiconductors. The general trend from 5G and HPC related applications will drive strong demand for advanced processes in the next few years. However, due to the impact of the COVID-19 epidemic and the uncertainty caused by geopolitical tensions, the supply chain has caused short-term imbalances in order to ensure its supply stability.
Wei Zhejia expects that semiconductor demand will continue to remain high-end, and will face shortages throughout this year, and capacity shortages may even extend to next year.
Wei Zhejia said that TSMC works closely with customers, and there are no repeated orders from customers in the current production capacity. It is expected that the shortage of mature processes will continue today and next year. TSMC will expand its mature process production capacity, and new production capacity will not be opened until 2023. It is hoped that more production capacity can be provided to customers by then, so that the tight supply situation will be slightly eased.
Automotive chips out of stock Q3 will be greatly improved
Regarding the shortage of automotive chips, Wei Zhejia said that the automotive industry supply chain only began to see signs of recovery in the fourth quarter of last year. Since January this year, it has been cooperating with other customers to dynamically adjust and reallocate wafer production capacity to support global automobiles. The industry, however, was unexpectedly affected by the Texas blizzard and Japan’s Renesas Electronics production interruption, which further worsened the shortage of automotive chips.
However, Wei Zhejia expects that with the increase in productivity, the shortage of automotive semiconductor components for customers will greatly improve in the next quarter.
Water shortage in Taiwan does not affect operations
Foreign capital is concerned about domestic water shortages. Wei Zhejia said that Taiwan’s rainfall last year caused tight water conditions. Through the current water-saving measures and in line with the government’s water restriction plan, TSMC has prepared plans for different water restriction stages and will continue to cooperate with the government and the government. Private companies work together on water conservation and development of water resources. With TSMC’s comprehensive enterprise risk management system, it is expected that water shortages will not have any material impact on operations.
New plant in Phoenix starts construction this year
Regarding the progress of the new plant in Arizona, Wei Zhejia said that construction will begin this year. In the future, factors such as market demand and production efficiency will be taken into consideration to determine the next phase of expansion plan. As for the new plant expansion plan, he responded, and it has not yet been announced. Plant expansion plans in other regions emphasized that Taiwan is still the main manufacturing center, and production capacity will still be concentrated in Taiwan.
IDM factory outsourcing OEM demand expands
Intel launched the IDM 2.0 strategic plan, in addition to continuing to promote advanced process technology, it will once again step into the foundry business, casting a shocking bomb for the market. Regarding foreign investment questions, Wei Zhejia only said that Intel is an important customer and will support customer needs. At the same time, he emphasized that he has seen the continuous growth of the demand for outsourcing IDM factories and does not believe that IDM factory expansion will lead to overcapacity in the market, because the technology is still The most important link is that TSMC has a leading position in technology, attracting customers to film, and working closely with customers.