Although UMC (2303)’s capacity utilization rate fell to 90% in the fourth quarter of last year due to semiconductor inventory reduction, its consolidated revenue last year was 278.705 billion yuan, and the after-tax net profit attributable to the parent company was 87.198 billion yuan, simultaneously hitting a record high. 7.09 yuan. In the first quarter of this year, due to customers actively adjusting inventory, wafer shipments are expected to decrease by 17-19% quarterly, and capacity utilization is expected to drop to 70%, but foundry prices remain unchanged.
UMC has carried out strict cost control measures and postponed some capital expenditures. Last year, capital expenditures fell to 2.7 billion US dollars, but this year it increased to 3 billion US dollars, mainly for expanding 28nm production capacity. UMC’s stock price closed at 45.95 yuan on the 17th, and it stood above all moving averages with volume. After the Lunar New Year, there is a chance to get out of the band market.
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