VANGUARD INTERNATIONAL SEMICONDUCTOR CORPORATION VANGUARD INTERNATIONAL SEMICONDUCTOR CORPORATION
CONSOLIDATED BALANCE SHEETS
As of Mar. 31, 2023 and 2022
(Figures in Millions of New Taiwan Dollars (NTD) and U.S. Dollars (USD))*
Mar. 31, 2023 | Mar. 31, 2022 | YoY | ||||||||||
ASSETS | USD | NTD | % | NTD | % | Move | Inc(Dec)% | |||||
Cash and Cash Designated for Hedging | 934 | 28,428 | 27.9 | 29,426 | 34.3 | (999) | (3.4) | |||||
Investments in Marketable Financial Instruments | 181 | 5,500 | 5.4 | 3,025 | 3.5 | 2,475 | 81.8 | |||||
Accounts Receivable | 158 | 4,800 | 4.7 | 9,020 | 10.5 | (4,220) | (46.8) | |||||
Inventories | 202 | 6,160 | 6.1 | 4,257 | 5.0 | 1,904 | 44.7 | |||||
Other Current Assets | 24 | 741 | 0.7 | 795 | 0.9 | (54) | (6.8) | |||||
Total Current Assets | 1,500 | 45,629 | 44.8 | 46,523 | 54.3 | (894) | (1.9) | |||||
Investments | 346 | 10,521 | 10.3 | 6,172 | 7.2 | 4,348 | 70.5 | |||||
Property, Plant and Equipment | 1,291 | 39,271 | 38.6 | 28,791 | 33.6 | 10,480 | 36.4 | |||||
Right-of-use Assets and Other Assets | 209 | 6,360 | 6.2 | 4,224 | 4.9 | 2,135 | 50.6 | |||||
Total Assets | 3,346 | 101,780 | 100.0 | 85,711 | 100.0 | 16,070 | 18.8 | |||||
LIABILITIES | ||||||||||||
Accounts Payable & Other Current Liabilities | 703 | 21,398 | 21.0 | 18,015 | 21.0 | 3,383 | 18.8 | |||||
Other Long Term Liabilities | 1,110 | 33,769 | 33.2 | 27,735 | 32.4 | 6,034 | 21.8 | |||||
Total Liabilities | 1,813 | 55,167 | 54.2 | 45,750 | 53.4 | 9,417 | 20.6 | |||||
EQUITY | ||||||||||||
Capital Stock | 539 | 16,390 | 16.1 | 16,390 | 19.1 | 0 | 0.0 | |||||
Capital Surplus | 30 | 914 | 0.9 | 898 | 1.0 | 16 | 1.8 | |||||
Retained Earnings | ||||||||||||
- Legal Reserve | 247 | 7,501 | 7.4 | 6,335 | 7.4 | 1,166 | 18.4 | |||||
- Special Reserve | 65 | 1,988 | 2.0 | 1,657 | 1.9 | 330 | 19.9 | |||||
- Unappropriated Earnings | 650 | 19,772 | 19.4 | 15,964 | 18.6 | 3,807 | 23.9 | |||||
Other Equity | 2 | 49 | 0.0 | (1,284) | (1.5) | 1,333 | (103.8) | |||||
Total Equity | 1,532 | 46,613 | 45.8 | 39,960 | 46.6 | 6,653 | 16.7 | |||||
Total Liabilities & Equity | 3,346 | 101,780 | 100.0 | 85,711 | 100.0 | 16,070 | 18.8 | |||||
*Note: The exchange rate for the figures of Mar. 31, 2023 was NTD30.422.
VANGUARD INTERNATIONAL SEMICONDUCTOR CORPORATION
CONSOLIDATED BALANCE SHEETS
As of Mar. 31, 2023 and Dec. 31, 2022
(Figures in Millions of New Taiwan Dollars (NTD) and U.S. Dollars (USD))*
Mar. 31, 2023 | Dec. 31, 2022 | QoQ | ||||||||||
ASSETS | USD | NTD | % | NTD | % | Move | Inc(Dec)% | |||||
Cash and Cash Designated for Hedging | 934 | 28,428 | 27.9 | 30,857 | 30.6 | (2,430) | (7.9) | |||||
Investments in Marketable Financial Instruments | 181 | 5,500 | 5.4 | 3,986 | 3.9 | 1,514 | 38.0 | |||||
Accounts Receivable | 158 | 4,800 | 4.7 | 4,962 | 4.9 | (162) | (3.3) | |||||
Inventories | 202 | 6,160 | 6.1 | 5,880 | 5.8 | 280 | 4.8 | |||||
Other Current Assets | 24 | 741 | 0.7 | 571 | 0.6 | 170 | 29.8 | |||||
Total Current Assets | 1,500 | 45,629 | 44.8 | 46,255 | 45.8 | (627) | (1.4) | |||||
Investments | 346 | 10,521 | 10.3 | 9,798 | 9.7 | 722 | 7.4 | |||||
Property, Plant and Equipment | 1,291 | 39,271 | 38.6 | 38,504 | 38.2 | 767 | 2.0 | |||||
Right-of-use Assets and Other Assets | 209 | 6,360 | 6.2 | 6,382 | 6.3 | (22) | (0.4) | |||||
Total Assets | 3,346 | 101,780 | 100.0 | 100,940 | 100.0 | 840 | 0.8 | |||||
LIABILITIES | ||||||||||||
Accounts Payable & Other Current Liabilities | 703 | 21,398 | 21.0 | 21,093 | 20.9 | 305 | 1.4 | |||||
Other Long Term Liabilities | 1,110 | 33,769 | 33.2 | 34,496 | 34.2 | (727) | (2.1) | |||||
Total Liabilities | 1,813 | 55,167 | 54.2 | 55,589 | 55.1 | (422) | (0.8) | |||||
EQUITY | ||||||||||||
Capital Stock | 539 | 16,390 | 16.1 | 16,390 | 16.2 | 0 | 0.0 | |||||
Capital Surplus | 30 | 914 | 0.9 | 914 | 0.9 | 0 | 0.0 | |||||
Retained Earnings | ||||||||||||
- Legal Reserve | 247 | 7,501 | 7.4 | 7,501 | 7.4 | 0 | 0.0 | |||||
- Special Reserve | 65 | 1,988 | 2.0 | 1,988 | 2.0 | 0 | 0.0 | |||||
- Unappropriated Earnings | 650 | 19,772 | 19.4 | 18,408 | 18.2 | 1,364 | 7.4 | |||||
Other Equity | 2 | 49 | 0.0 | 150 | 0.2 | (101) | (67.5) | |||||
Total Equity | 1,532 | 46,613 | 45.8 | 45,351 | 44.9 | 1,263 | 2.8 | |||||
Total Liabilities & Equity | 3,346 | 101,780 | 100.0 | 100,940 | 100.0 | 840 | 0.8 | |||||
*Note: The exchange rate for the figures of Mar. 31, 2023 was NTD30.422.
Vanguard International Semiconductor Corporation
Consolidated Statements of Comprehensive Income
For the Three Months Ended Mar. 31, 2023, Dec. 31, 2022 and Mar. 31, 2022
(Expressed in Millions of New Taiwan Dollars (NTD) and U.S. Dollars (USD) (1)
Except for Per Share Amounts and Shares Outstanding)
Year over Year Comparison | Sequential Comparison | ||||||||||||||||||||
1Q 2023 | % of | 1Q 2022 | YoY | 1Q 2023 | % of | 4Q 2022 | QoQ | ||||||||||||||
USD | NTD | Sales | NTD | Inc(Dec) % | USD | NTD | Sales | NTD | Inc(Dec) % | ||||||||||||
Net Revenue | 269 | 8,187 | 100.0 | 13,492 | (39.3) | 269 | 8,187 | 100.0 | 9,573 | (14.5) | |||||||||||
Cost of Revenue | (188) | (5,728) | (70.0) | (6,966) | (17.8) | (188) | (5,728) | (70.0) | (5,819) | (1.6) | |||||||||||
Gross Profit | 81 | 2,459 | 30.0 | 6,526 | (62.3) | 81 | 2,459 | 30.0 | 3,755 | (34.5) | |||||||||||
Operating Expenses | |||||||||||||||||||||
General and Administrative Expenses | (15) | (444) | (5.4) | (734) | (39.4) | (15) | (444) | (5.4) | (510) | (12.8) | |||||||||||
Selling and Marketing Expenses | (3) | (87) | (1.1) | (141) | (38.7) | (3) | (87) | (1.1) | (111) | (22.1) | |||||||||||
Research and Development Expenses | (18) | (562) | (6.9) | (663) | (15.2) | (18) | (562) | (6.9) | (672) | (16.3) | |||||||||||
Total Operating Expenses | (36) | (1,093) | (13.4) | (1,538) | (28.9) | (36) | (1,093) | (13.4) | (1,292) | (15.4) | |||||||||||
Income from Operations | 45 | 1,365 | 16.7 | 4,988 | (72.6) | 45 | 1,365 | 16.7 | 2,462 | (44.5) | |||||||||||
Net Non-operating Income | 11 | 335 | 4.1 | 83 | 302.1 | 11 | 335 | 4.1 | 445 | (24.8) | |||||||||||
Income before Income Tax | 56 | 1,700 | 20.8 | 5,071 | (66.5) | 56 | 1,700 | 20.8 | 2,907 | (41.5) | |||||||||||
Income Tax Expense | (11) | (336) | (4.1) | (979) | (65.7) | (11) | (336) | (4.1) | (428) | (21.5) | |||||||||||
Net Income | 45 | 1,364 | 16.7 | 4,092 | (66.7) | 45 | 1,364 | 16.7 | 2,479 | (45.0) | |||||||||||
Other Comprehensive (Loss) Income | (3) | (98) | (1.2) | 711 | - | (3) | (98) | (1.2) | 127 | - | |||||||||||
Comprehensive Income | 42 | 1,266 | 15.5 | 4,803 | (73.6) | 42 | 1,266 | 15.5 | 2,606 | (51.4) | |||||||||||
Diluted Earnings Per Share (2) | |||||||||||||||||||||
0.027 | 0.82 | 2.47 | (66.8) | 0.027 | 0.82 | 1.47 | (44.2) | ||||||||||||||
Weighted Average Outstanding Shares('M) (2) | 1,662 | 1,654 | 1,662 | 1,682 |
Note: (1) The exchange rate for the figures of three months ended Mar. 31, 2023 was NTD30.431.
(2) Total weighted average outstanding shares were 1,662,474K, 1,681,846K and 1,653,822K for 1Q23, 4Q22 and 1Q22, respectively.
Vanguard International Semiconductor Corporation
Consolidated Statements of Comprehensive Income
For the Three Months Ended Mar. 31, 2023 and 2022
(Expressed in Millions of New Taiwan Dollars (NTD) and U.S. Dollars (USD) (1)
Except for Per Share Amounts and Shares Outstanding)
Three Months Ended Mar. 31 | |||||||||||
2023 | % of | 2022 | YoY | ||||||||
USD | NTD | Sales | NTD | Inc(Dec) % | |||||||
Net Revenue | 269 | 8,187 | 100.0 | 13,492 | (39.3) | ||||||
Cost of Revenue | (188) | (5,728) | (70.0) | (6,966) | (17.8) | ||||||
Gross Profit | 81 | 2,459 | 30.0 | 6,526 | (62.3) | ||||||
Operating Expenses | |||||||||||
General and Administrative Expenses | (15) | (444) | (5.4) | (734) | (39.4) | ||||||
Selling and Marketing Expenses | (3) | (87) | (1.1) | (141) | (38.7) | ||||||
Research and Development Expenses | (18) | (562) | (6.9) | (663) | (15.2) | ||||||
Total Operating Expenses | (36) | (1,093) | (13.4) | (1,538) | (28.9) | ||||||
Income from Operations | 45 | 1,365 | 16.7 | 4,988 | (72.6) | ||||||
Net Non-operating Income | 11 | 335 | 4.1 | 83 | 302.1 | ||||||
Income before Income Tax | 56 | 1,700 | 20.8 | 5,071 | (66.5) | ||||||
Income Tax Expense | (11) | (336) | (4.1) | (979) | (65.7) | ||||||
Net Income | 45 | 1,364 | 16.7 | 4,092 | (66.7) | ||||||
Other Comprehensive (Loss) Income | (3) | (98) | (1.2) | 711 | - | ||||||
Comprehensive Income | 42 | 1,266 | 15.5 | 4,803 | (73.6) | ||||||
Diluted Earnings Per Share (2) | |||||||||||
0.027 | 0.82 | 2.47 | (66.8) | ||||||||
Weighted Average Outstanding Shares('M) (2) | 1,662 | 1,654 |
Note: (1) The exchange rate for the figures of three months ended Mar. 31, 2023 was NTD30.431.
(2) Total weighted average outstanding shares were 1,662,474K and 1,653,822K for the three months ended Mar. 31, 2023 and 2022, respectively.
VANGUARD INTERNATIONAL SEMICONDUCTOR CORPORATION
CONSOLIDATED STATEMENTS OF CASH FLOWS
For the Three Months Ended Mar. 31, 2023 and 2022
(Figures in Millions of New Taiwan Dollars (NTD) and U.S. Dollars (USD))*
2023 | 2022 | |||||
USD | NTD | NTD | ||||
Cash Flows from Operating Activities | ||||||
Income before income tax | 56 | 1,700 | 5,071 | |||
Depreciation & Amortization | 60 | 1,824 | 1,194 | |||
Income taxes paid | (1) | (21) | (0) | |||
Changes of notes and accounts receivable | 3 | 100 | 388 | |||
Changes in working capital & others | (28) | (837) | 3,528 | |||
Net Cash Provided by Operating Activities | 91 | 2,766 | 10,181 | |||
Cash Flows from Investing Activities | ||||||
Increase in financial assets | (77) | (2,342) | (660) | |||
Acquisitions of PP&E and intangible assets | (94) | (2,871) | (5,246) | |||
Others | 3 | 98 | (1) | |||
Net Cash Used in Investing Activities | (168) | (5,115) | (5,906) | |||
Cash Flows from Financing Activities | ||||||
Issuance of bonds | 0 | 0 | 7,000 | |||
Increase in guarantee deposits | 0 | 10 | 1,596 | |||
Decrease in lease liabilities | (2) | (54) | (56) | |||
Others | (0) | (1) | 16 | |||
Net Cash (Used in) Provided by Financing Activities | (1) | (44) | 8,556 | |||
Net (Decrease) Increase in Cash and Cash Equivalents | ||||||
(79) | (2,393) | 12,831 | ||||
Effect of Exchange Rate Changes | (1) | (37) | 209 | |||
Cash and Cash Equivalents, Beginning of Period | 1,014 | 30,857 | 16,387 | |||
Cash and Cash Equivalents, End of Period | 934 | 28,428 | 29,426 | |||
*Note: The exchange rate for the figures of three months ended Mar. 31, 2023 was NTD30.431.
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VIS - Vanguard International Semiconductor Corporation published this content on 18 April 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 May 2023 07:40:03 UTC.
