UMC Reports Second Quarter 2021 Results

The financial statements included in this release are prepared and published in accordance with Taiwan International Financial Reporting Standards, or TIFRSs, recognized by the Financial Supervisory Commission in the ROC, which is different from International Financial Reporting Standards, or IFRSs, issued by the International Accounting Standards Board. Investors are cautioned that there may be significant differences between TIFRSs and IFRSs. In addition, TIFRSs and IFRSs differ in certain significant respects from generally accepted accounting principles in the ROC and generally accepted accounting principles in the United States.

- FINANCIAL TABLES TO FOLLOW -

UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES
Consolidated Condensed Balance Sheet
As of June 30, 2021
Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$)


	June 30, 2021
	US$	NT$	%
Assets
Current assets
Cash and cash equivalents	4,451	124,000	29.4%
Accounts receivable, net	1,081	30,113	7.2%
Inventories, net	805	22,439	5.3%
Other current assets	1,123	31,281	7.4%
Total current assets	7,460	207,833	49.3%

Non-current assets
Funds and investments	2,389	66,570	15.8%
Property, plant and equipment	4,450	123,983	29.4%
Right-of-use assets	266	7,413	1.8%
Other non-current assets	571	15,878	3.7%
Total non-current assets	7,676	213,844	50.7%
Total assets	15,136	421,677	100.0%

Liabilities
Current liabilities
Short-term loans	193	5,386	1.3%
Payables	1,319	36,753	8.7%
Dividends payable	713	19,876	4.7%
Current portion of long-term liabilities	512	14,263	3.4%
Other current liabilities	314	8,726	2.0%
Total current liabilities	3,051	85,004	20.1%

Non-current liabilities
Bonds payable	721	20,082	4.8%
Long-term loans	1,109	30,885	7.3%
Lease liabilities, noncurrent	171	4,771	1.1%
Other non-current liabilities	1,462	40,743	9.7%
Total non-current liabilities	3,463	96,481	22.9%
Total liabilities	6,514	181,485	43.0%

Equity
Equity attributable to the parent company
Capital	4,459	124,233	29.5%
Additional paid-in capital	1,550	43,182	10.2%
Retained earnings and other components of equity	2,613	72,791	17.3%
Treasury stock	(4)	(120)	(0.0%)
Total equity attributable to the parent company	8,618	240,086	57.0%
Non-controlling interests	4	106	0.0%
Total equity	8,622	240,192	57.0%
Total liabilities and equity	15,136	421,677	100.0%







Note：New Taiwan Dollars have been translated into U.S. Dollars at the June 30, 2021 exchange rate of NT $27.86 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, 2021		June 30, 2020		Chg.	June 30, 2021		March 31, 2021		Chg.
	US$	NT$	US$	NT$	%	US$	NT$	US$	NT$	%
Operating revenues	1,827	50,908	1,593	44,386	14.7%	1,827	50,908	1,690	47,097	8.1%
Operating costs	(1,256)	(35,000)	(1,225)	(34,129)	2.6%	(1,256)	(35,000)	(1,242)	(34,603)	1.1%
Gross profit	571	15,908	368	10,257	55.1%	571	15,908	448	12,494	27.3%
	31.3%	31.3%	23.1%	23.1%		31.3%	31.3%	26.5%	26.5%
Operating expenses
- Sales and marketing expenses	(41)	(1,131)	(33)	(929)	21.8%	(41)	(1,131)	(39)	(1,089)	3.8%
- General and administrative expenses	(68)	(1,901)	(56)	(1,537)	23.5%	(68)	(1,901)	(64)	(1,806)	5.2%
- Research and development expenses	(114)	(3,168)	(115)	(3,203)	(1.1%)	(114)	(3,168)	(109)	(3,049)	3.9%
- Expected credit impairment gain (loss)	(0)	(1)	(0)	(8)	(81.3%)	(0)	(1)	0	12	-
Subtotal	(223)	(6,201)	(204)	(5,677)	9.2%	(223)	(6,201)	(212)	(5,932)	4.5%
Net other operating income and expenses	58	1,606	46	1,266	26.9%	58	1,606	38	1,060	51.6%
Operating income	406	11,313	210	5,846	93.5%	406	11,313	274	7,622	48.4%
	22.2%	22.2%	13.2%	13.2%		22.2%	22.2%	16.2%	16.2%

Net non-operating income and expenses	68	1,881	29	818	129.9%	68	1,881	120	3,361	(44.0%)
Income from continuing operations before income tax	474	13,194	239	6,664	98.0%	474	13,194	394	10,983	20.1%
	25.9%	25.9%	15.0%	15.0%		25.9%	25.9%	23.3%	23.3%

Income tax expenses	(48)	(1,327)	(22)	(613)	116.6%	(48)	(1,327)	(39)	(1,094)	21.3%
Net income	426	11,867	217	6,051	96.1%	426	11,867	355	9,889	20.0%
	23.3%	23.3%	13.6%	13.6%		23.3%	23.3%	21.0%	21.0%

Other comprehensive income (loss)	(70)	(1,935)	114	3,178	-	(70)	(1,935)	128	3,556	-

Total comprehensive income (loss)	356	9,932	331	9,229	7.6%	356	9,932	483	13,445	(26.1%)

Net income attributable to:
Shareholders of the parent	429	11,943	240	6,681	78.8%	429	11,943	374	10,428	14.5%
Non-controlling interests	(3)	(76)	(23)	(630)	(87.9%)	(3)	(76)	(19)	(539)	(85.8%)

Comprehensive income (loss) attributable to:
Shareholders of the parent	359	10,008	354	9,859	1.5%	359	10,008	502	13,984	(28.4%)
Non-controlling interests	(3)	(76)	(23)	(630)	(87.9%)	(3)	(76)	(19)	(539)	(85.8%)

Earnings per share-basic	0.035	0.98	0.020	0.55		0.035	0.98	0.031	0.85
Earnings per ADS ⁽²⁾	0.176	4.90	0.099	2.75		0.176	4.90	0.153	4.25
Weighted average number of shares
outstanding (in millions)		12,206		12,193			12,206		12,206


Notes:
(1) New Taiwan Dollars have been translated into U.S. Dollars at the June 30, 2021 exchange rate of NT $27.86 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, 2021			June 30, 2021
	US$	NT$	%	US$	NT$	%
Operating revenues	1,827	50,908	100.0%	3,518	98,005	100.0%
Operating costs	(1,256)	(35,000)	(68.7%)	(2,499)	(69,603)	(71.0%)
Gross profit	571	15,908	31.3%	1,019	28,402	29.0%


Operating expenses
- Sales and marketing expenses	(41)	(1,131)	(2.2%)	(80)	(2,220)	(2.3%)
- General and administrative expenses	(68)	(1,901)	(3.8%)	(132)	(3,707)	(3.8%)
- Research and development expenses	(114)	(3,168)	(6.2%)	(223)	(6,217)	(6.3%)
- Expected credit impairment gain (loss)	(0)	(1)	(0.0%)	0	11	0.0%
Subtotal	(223)	(6,201)	(12.2%)	(435)	(12,133)	(12.4%)
Net other operating income and expenses	58	1,606	3.1%	96	2,666	2.7%
Operating income	406	11,313	22.2%	680	18,935	19.3%

Net non-operating income and expenses	68	1,881	3.7%	188	5,242	5.4%
Income from continuing operations before income tax	474	13,194	25.9%	868	24,177	24.7%


Income tax expense	(48)	(1,327)	(2.6%)	(87)	(2,422)	(2.5%)
Net income	426	11,867	23.3%	781	21,755	22.2%

Other comprehensive income (loss)	(70)	(1,935)	(3.8%)	58	1,622	1.7%

Total comprehensive income (loss)	356	9,932	19.5%	839	23,377	23.9%

Net income attributable to:
Shareholders of the parent	429	11,943	23.5%	803	22,371	22.8%
Non-controlling interests	(3)	(76)	(0.2%)	(22)	(616)	(0.6%)

Comprehensive income (loss) attributable to:
Shareholders of the parent	359	10,008	19.7%	861	23,992	24.5%
Non-controlling interests	(3)	(76)	(0.2%)	(22)	(615)	(0.6%)

Earnings per share-basic	0.035	0.98		0.066	1.83
Earnings per ADS ⁽²⁾	0.176	4.90		0.328	9.15

Weighted average number of shares outstanding (in millions)		12,206			12,206

Notes:
(1) New Taiwan Dollars have been translated into U.S. Dollars at the June 30, 2021 exchange rate of NT $27.86 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, 2021
Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$)

	US$	NT$
Cash flows from operating activities :
Net income before tax	868	24,177
Depreciation & Amortization	844	23,504
Share of profit of associates and joint ventures	(95)	(2,648)
Changes in working capital & others	(131)	(3,629)
Net cash provided by operating activities	1,486	41,404

Cash flows from investing activities :
Acquisition of property, plant and equipment	(570)	(15,872)
Acquisition of intangible assets	(52)	(1,454)
Increase in other financial assets	(391)	(10,901)
Others	94	2,625
Net cash used in investing activities	(919)	(25,602)

Cash flows from financing activities :
Decrease in short-term loans	(198)	(5,509)
Proceeds from bonds issued	345	9,600
Redemption of bonds	(72)	(2,000)
Proceeds from long-term loans	500	13,943
Repayments of long-term loans	(267)	(7,450)
Increase in guarantee deposits	272	7,587
Others	(12)	(353)
Net cash provided by financing activities	568	15,818

Effect of exchange rate changes on cash and cash equivalents	(60)	(1,668)
Net increase in cash and cash equivalents	1,075	29,952

Cash and cash equivalents at beginning of period	3,376	94,048

Cash and cash equivalents at end of period	4,451	124,000



Note: New Taiwan Dollars have been translated into U.S. Dollars at the June 30, 2021 exchange rate of NT $27.86 per U.S. Dollar.

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