Press Center
Chang Wah Board of Directors Meeting Resolutions
Issued by: Chang Wah Electromaterials Inc.
Issued on: August 8, 2023
Chang Wah Electromaterials Inc. (Chang Wah*, 8070.tw) held a board meeting on August 8 and approved the reviewed consolidated financial report for the six months ended June 30, 2023. In the second quarter, consolidated revenue amounted to NT$4,179 million, with a gross margin of 18%, net profit attributable to owners of the Corporation of NT$592 million and earnings per share of NT$0.88.
Due to weak market demand, inventory adjustments continued throughout the semiconductor supply chain. On a quarter-over-quarter basis, Chang Wah’s consolidated revenue of the second quarter remained flat at NT$4,165 million, while gross margin decreased by 1%. Due to dividend income and foreign exchange gains. profit before income tax and net profit attributable to owners of the Corporation doubled from the previous quarter.
On a year-over-year basis, Chang Wah’s consolidated revenue decreased by 28%, while gross margin and profit before income tax decreased by 5% and 18%, respectively. However, net profit attributable to owners of the Corporation increased by 10% due to higher dividend income and lower income tax expense compared to the same period in 2022.
As for the first half of 2023, Chang Wah’s consolidated revenue amounted to NT$8,345 million, a year-over-year decrease of 27%. Gross margin was 19%, down 4% from last year. Profit before income tax decreased by 38% to NT$1,453 million, while net profit attributable to owners of the Corporation decreased by 29% to NT$805 million. Earnings per share of NT$1.19 was equivalent to a profit of 1.19 times the share capital.
For financial results of Chang Wah, please refer to the table below or access the corporate website at https://www.cwei.com.tw/
Unit：NT$ million
| Period | 2Q23 | 1Q23 | 2Q22 | QoQ | YoY |
|---|---|---|---|---|---|
| Consolidated revenue | 4,179 | 4,166 | 5,820 | - | -28% |
| Gross profit | 770 | 802 | 1,343 | -4% | -43% |
| Gross margin | 18% | 19% | 23% | Down 1% | Down 5% |
| Profit from operations | 389 | 461 | 938 | -16% | -59% |
| Operating margin | 9% | 11% | 16% | Down 2% | Down 7% |
| Profit before income tax | 978 | 475 | 1,189 | 106% | -18% |
|
Net profit attributable to owners of the Corporation |
592 | 213 | 539 | 178% | 10% |
| Earnings per share (NT$) | 0.88 | 0.31 | 0.79 | 184% | 11% |
| Period | YTD 2023 | YTD 2022 | YoY |
|---|---|---|---|
| Consolidated revenue | 8,345 | 11,475 | -27% |
| Gross profit | 1,572 | 2,656 | -41% |
| Gross margin | 19% | 23% | Down 4% |
| Profit from operations |
850 | 1,857 | -54% |
| Operating margin | 10% | 16% | Down 6% |
| Profit before income tax | 1,453 | 2,343 | -38% |
|
Net profit attributable to owners of the Corporation |
805 | 1,131 | -29% |
| Earnings per share (NT$) | 1.19 | 1.64 | -27% |
Note: As of June 30, 2023, the number of shares issued was 689,422 thousand.