UMC Reports Second Quarter 2020 Results

- FINANCIAL TABLES TO FOLLOW -

UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES
Consolidated Condensed Balance Sheet
As of June 30, 2020
Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$)


	June 30, 2020
	US$	NT$	%
Assets
Current assets
Cash and cash equivalents	3,371	99,872	27.2%
Notes & Accounts receivable, net	920	27,260	7.4%
Inventories, net	788	23,342	6.4%
Other current assets	589	17,481	4.7%
Total current assets	5,668	167,955	45.7%

Non-current assets
Funds and investments	1,415	41,939	11.4%
Property, plant and equipment	4,449	131,817	35.9%
Right-of-use assets	274	8,117	2.2%
Other non-current assets	598	17,716	4.8%
Total non-current assets	6,736	199,589	54.3%
Total assets	12,404	367,544	100.0%

Liabilities
Current liabilities
Short-term loans	324	9,612	2.6%
Payables	1,004	29,763	8.1%
Dividends payable	330	9,765	2.7%
Current portion of long-term liabilities	260	7,712	2.1%
Other current liabilities	279	8,256	2.2%
Total current liabilities	2,197	65,108	17.7%

Non-current liabilities
Bonds payable	563	16,689	4.5%
Long-term loans	1,242	36,807	10.0%
Lease liabilities, noncurrent	182	5,382	1.5%
Other non-current liabilities	1,160	34,355	9.4%
Total non-current liabilities	3,147	93,233	25.4%
Total liabilities	5,344	158,341	43.1%

Equity
Equity attributable to the parent company
Capital	4,125	122,224	33.3%
Additional paid-in capital	1,378	40,828	11.1%
Retained earnings, exchange differences on translation of foreign operations and unrealized gains or losses on financial assets measured at fair value through other comprehensive income	1,600	47,395	12.9%
Treasury stock	(45)	(1,320)	(0.4%)
Total equity attributable to the parent company	7,058	209,127	56.9%
Non-controlling interests	2	76	0.0%
Total equity	7,060	209,203	56.9%
Total liabilities and equity	12,404	367,544	100.0%







Note：New Taiwan Dollars have been translated into U.S. Dollars at the June 30, 2020 exchange rate of NT $29.63 per U.S. Dollar.

UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES
Consolidated Condensed Statements of Comprehensive Income
Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$)
Except Per Share and Per ADS Data


	Year over Year Comparison					Quarter over Quarter Comparison
	Three-Month Period Ended					Three-Month Period Ended
	June 30, 2020		June 30, 2019		Chg.	June 30, 2020		March 31, 2020		Chg.
	US$	NT$	US$	NT$	%	US$	NT$	US$	NT$	%
Operating revenues	1,498	44,386	1,216	36,031	23.2%	1,498	44,386	1,427	42,268	5.0%
Operating costs	(1,152)	(34,129)	(1,025)	(30,379)	12.3%	(1,152)	(34,129)	(1,153)	(34,146)	(0.0%)
Gross profit	346	10,257	191	5,652	81.5%	346	10,257	274	8,122	26.3%
	23.1%	23.1%	15.7%	15.7%		23.1%	23.1%	19.2%	19.2%
Operating expenses
- Sales and marketing expenses	(31)	(929)	(32)	(953)	(2.6%)	(31)	(929)	(35)	(1,040)	(10.7%)
- General and administrative expenses	(53)	(1,537)	(43)	(1,251)	23.0%	(53)	(1,537)	(53)	(1,543)	(0.3%)
- Research and development expenses	(108)	(3,203)	(94)	(2,787)	14.9%	(108)	(3,203)	(107)	(3,185)	0.6%
- Expected credit impairment gain (loss)	(0)	(8)	(20)	(587)	(98.7%)	(0)	(8)	2	46	-
Subtotal	(192)	(5,677)	(189)	(5,578)	1.8%	(192)	(5,677)	(193)	(5,722)	(0.8%)
Net other operating income and expenses	43	1,266	57	1,687	(25.0%)	43	1,266	34	1,014	24.9%
Operating income	197	5,846	59	1,761	232.0%	197	5,846	115	3,414	71.2%
	13.2%	13.2%	4.9%	4.9%		13.2%	13.2%	8.1%	8.1%

Net non-operating income and expenses	28	818	(20)	(617)	-	28	818	(87)	(2,592)	-
Income from continuing operations before income tax	225	6,664	39	1,144	482.6%	225	6,664	28	822	710.8%
	15.0%	15.0%	3.2%	3.2%		15.0%	15.0%	1.9%	1.9%

Income tax benefit (expense)	(21)	(613)	(7)	(202)	204.2%	(21)	(613)	14	408	-
Net income	204	6,051	32	942	542.1%	204	6,051	42	1,230	391.8%
	13.6%	13.6%	2.6%	2.6%		13.6%	13.6%	2.9%	2.9%

Other comprehensive income (loss)	107	3,178	25	743	328.2%	107	3,178	(126)	(3,714)	-

Total comprehensive income (loss)	311	9,229	57	1,685	447.9%	311	9,229	(84)	(2,484)	-

Net income attributable to:
Stockholders of the parent	225	6,681	59	1,740	283.8%	225	6,681	74	2,207	202.7%
Non-controlling interests	(21)	(630)	(27)	(798)	(21.1%)	(21)	(630)	(32)	(977)	(35.5%)

Comprehensive income (loss) attributable to:
Stockholders of the parent	333	9,859	84	2,488	296.3%	333	9,859	(55)	(1,634)	-
Non-controlling interests	(22)	(630)	(27)	(803)	(21.6%)	(22)	(630)	(29)	(850)	(25.9%)

Earnings per share-basic	0.019	0.55	0.005	0.15		0.019	0.55	0.006	0.19
Earnings per ADS ⁽²⁾	0.093	2.75	0.025	0.75		0.093	2.75	0.032	0.95
Weighted average number of shares
outstanding (in millions)		12,193		11,818			12,193		11,783


Notes:
(1) New Taiwan Dollars have been translated into U.S. Dollars at the June 30, 2020 exchange rate of NT $29.63 per U.S. Dollar.
(2) 1 ADS equals 5 common shares.

UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES
Consolidated Condensed Statements of Comprehensive Income
Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$)
Except Per Share and Per ADS Data


	Year over Year Comparison					Quarter over Quarter Comparison
	Three-Month Period Ended					Three-Month Period Ended
	June 30, 2020		June 30, 2019		Chg.	June 30, 2020		March 31, 2020		Chg.
	US$	NT$	US$	NT$	%	US$	NT$	US$	NT$	%
Operating revenues	1,498	44,386	1,216	36,031	23.2%	1,498	44,386	1,427	42,268	5.0%
Operating costs	(1,152)	(34,129)	(1,025)	(30,379)	12.3%	(1,152)	(34,129)	(1,153)	(34,146)	(0.0%)
Gross profit	346	10,257	191	5,652	81.5%	346	10,257	274	8,122	26.3%
	23.1%	23.1%	15.7%	15.7%		23.1%	23.1%	19.2%	19.2%
Operating expenses
- Sales and marketing expenses	(31)	(929)	(32)	(953)	(2.6%)	(31)	(929)	(35)	(1,040)	(10.7%)
- General and administrative expenses	(53)	(1,537)	(43)	(1,251)	23.0%	(53)	(1,537)	(53)	(1,543)	(0.3%)
- Research and development expenses	(108)	(3,203)	(94)	(2,787)	14.9%	(108)	(3,203)	(107)	(3,185)	0.6%
- Expected credit impairment gain (loss)	(0)	(8)	(20)	(587)	(98.7%)	(0)	(8)	2	46	-
Subtotal	(192)	(5,677)	(189)	(5,578)	1.8%	(192)	(5,677)	(193)	(5,722)	(0.8%)
Net other operating income and expenses	43	1,266	57	1,687	(25.0%)	43	1,266	34	1,014	24.9%
Operating income	197	5,846	59	1,761	232.0%	197	5,846	115	3,414	71.2%
	13.2%	13.2%	4.9%	4.9%		13.2%	13.2%	8.1%	8.1%

Net non-operating income and expenses	28	818	(20)	(617)	-	28	818	(87)	(2,592)	-
Income from continuing operations before income tax	225	6,664	39	1,144	482.6%	225	6,664	28	822	710.8%
	15.0%	15.0%	3.2%	3.2%		15.0%	15.0%	1.9%	1.9%

Income tax benefit (expense)	(21)	(613)	(7)	(202)	204.2%	(21)	(613)	14	408	-
Net income	204	6,051	32	942	542.1%	204	6,051	42	1,230	391.8%
	13.6%	13.6%	2.6%	2.6%		13.6%	13.6%	2.9%	2.9%

Other comprehensive income (loss)	107	3,178	25	743	328.2%	107	3,178	(126)	(3,714)	-

Total comprehensive income (loss)	311	9,229	57	1,685	447.9%	311	9,229	(84)	(2,484)	-

Net income attributable to:
Stockholders of the parent	225	6,681	59	1,740	283.8%	225	6,681	74	2,207	202.7%
Non-controlling interests	(21)	(630)	(27)	(798)	(21.1%)	(21)	(630)	(32)	(977)	(35.5%)

Comprehensive income (loss) attributable to:
Stockholders of the parent	333	9,859	84	2,488	296.3%	333	9,859	(55)	(1,634)	-
Non-controlling interests	(22)	(630)	(27)	(803)	(21.6%)	(22)	(630)	(29)	(850)	(25.9%)

Earnings per share-basic	0.019	0.55	0.005	0.15		0.019	0.55	0.006	0.19
Earnings per ADS ⁽²⁾	0.093	2.75	0.025	0.75		0.093	2.75	0.032	0.95
Weighted average number of shares
outstanding (in millions)		12,193		11,818			12,193		11,783


Notes:
(1) New Taiwan Dollars have been translated into U.S. Dollars at the June 30, 2020 exchange rate of NT $29.63 per U.S. Dollar.
(2) 1 ADS equals 5 common shares.

UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES
Consolidated Condensed Statements of Comprehensive Income
Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$)
Except Per Share and Per ADS Data

	For the Three-Month Period Ended			For the Six-Month Period Ended
	June 30, 2020			June 30, 2020
	US$	NT$	%	US$	NT$	%
Operating revenues	1,498	44,386	100.0%	2,925	86,654	100.0%
Operating costs	(1,152)	(34,129)	(76.9%)	(2,305)	(68,274)	(78.8%)
Gross profit	346	10,257	23.1%	620	18,380	21.2%


Operating expenses
- Sales and marketing expenses	(31)	(929)	(2.1%)	(66)	(1,968)	(2.3%)
- General and administrative expenses	(53)	(1,537)	(3.5%)	(103)	(3,083)	(3.5%)
- Research and development expenses	(108)	(3,203)	(7.2%)	(216)	(6,388)	(7.4%)
- Expected credit impairment gain (loss)	(0)	(8)	(0.0%)	1	39	0.1%
Subtotal	(192)	(5,677)	(12.8%)	(384)	(11,400)	(13.1%)
Net other operating income and expenses	43	1,266	2.9%	77	2,280	2.6%
Operating income	197	5,846	13.2%	313	9,260	10.7%

Net non-operating income and expenses	28	818	1.8%	(60)	(1,774)	(2.1%)
Income from continuing operations before income tax	225	6,664	15.0%	253	7,486	8.6%


Income tax expense	(21)	(613)	(1.4%)	(7)	(205)	(0.2%)
Net income	204	6,051	13.6%	246	7,281	8.4%

Other comprehensive income (loss)	107	3,178	7.2%	(18)	(536)	(0.6%)

Total comprehensive income (loss)	311	9,229	20.8%	228	6,745	7.8%

Net income attributable to:
Stockholders of the parent	225	6,681	15.1%	300	8,888	10.3%
Non-controlling interests	(21)	(630)	(1.5%)	(54)	(1,607)	(1.9%)

Comprehensive income (loss) attributable to:
Stockholders of the parent	333	9,859	22.2%	278	8,225	9.5%
Non-controlling interests	(22)	(630)	(1.4%)	(50)	(1,480)	(1.7%)

Earnings per share-basic	0.019	0.55		0.025	0.74
Earnings per ADS ⁽²⁾	0.093	2.75		0.125	3.70

Weighted average number of shares outstanding (in millions)		12,193			11,988

Notes:
(1) New Taiwan Dollars have been translated into U.S. Dollars at the June 30, 2020 exchange rate of NT $29.63 per U.S. Dollar.
(2) 1 ADS equals 5 common shares.

UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES
Consolidated Condensed Statement of Cash Flows
For The Six-Month Period Ended June 30, 2020
Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$)

	US$	NT$
Cash flows from operating activities :
Net income before tax	253	7,486
Depreciation & Amortization	835	24,745
Changes in working capital & others	(37)	(1,096)
Net cash provided by operating activities	1,051	31,135

Cash flows from investing activities :
Acquisition of property, plant and equipment	(267)	(7,901)
Acquisition of intangible assets	(30)	(901)
Increase in other financial assets	(273)	(8,093)
Others	(3)	(93)
Net cash used in investing activities	(573)	(16,988)

Cash flows from financing activities :
Decrease in short-term loans	(74)	(2,202)
Redemption of bonds	(462)	(13,703)
Proceeds from long-term loans	405	12,000
Repayments of long-term loans	(97)	(2,878)
Treasury stock acquired	(41)	(1,201)
Others	(28)	(812)
Net cash used in financing activities	(297)	(8,796)

Effect of exchange rate changes on cash and cash equivalents	(33)	(971)
Net increase in cash and cash equivalents	148	4,380

Cash and cash equivalents at beginning of period	3,223	95,492

Cash and cash equivalents at end of period	3,371	99,872

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