Slides
Page 1
Hua Hong Semiconductor Limited 3Q 2025 Results
Page 2
2 HHGrace Proprietary 3Q 2025 Key Financials • Revenue reached an all-time high of US$635.2 million, 20.7% over 3Q 2024 and 12.2% above 2Q 2025. • Gross margin was 13.5%, 1.3 percentage points over 3Q 2024 and 2.6 percentage points above 2Q 2025. • Net profit attributable to shareholders of the parent company was US$25.7 million, 42.6% lower than 3Q 2024 and 223.5% above 2Q 2025.
Page 3
3 HHGrace Proprietary 3Q 2025 Income Statement • Revenue reached an all-time high of US$635.2 million, 20.7% over 3Q 2024, and 12.2% over 2Q 2025, primarily driven by increased wafer shipments and improved average selling price. • Gross margin was 13.5%, 1.3 percentage point over 3Q 2024, primarily driven by improved capacity utilization and average selling price, partially offset by increased depreciation costs, and 2.6 percentage points above 2Q 2025, primarily driven by improved average selling price. • Operating expenses were US$100.4 million, 23.3% over 3Q 2024, primarily due to increased engineering wafer costs and depreciation expenses, and 2.6% over 2Q 2025. • Other income net was US$17.8 million, 65.7% lower than 3Q 2024, primarily due to decreased foreign exchange gains and interest income, partially offset by decreased finance costs, and 67.4% over 2Q 2025, primarily driven by foreign exchange gains versus foreign exchange losses in 2Q 2025. • Net loss for the period was US$7.2 million, compared to a profit of US$22.9 million in 3Q 2024 and a loss of US$32.8 million in 2Q 2025. • Net profit attributable to shareholders of the parent company was US$25.7 million, 42.6% lower than 3Q 2024 and 223.5% above 2Q 2025. • Basic earnings per share was US$0.015, 42.3% lower than 3Q 2024, and 200.0% over 2Q 2025. • ROE (annualized) was 1.6%,1.2 percentage points lower than 3Q 2024, and 1.2 percentage points above 2Q 2025. 3Q 2025 3Q 2025 3Q 2024 2Q 2025 (US$ ’000) (Unaudited) (Guidance) (Unaudited) (Unaudited) YoY QoQ Revenue 635,180 620,000 ~640,000 526,306 566,065 20.7 % 12.2 % Gross profit 85,854 64,007 61,611 34.1 % 39.3 % Gross margin 13.5 % 10%~12% 12.2 % 10.9 % 1.3 2.6 Operating expenses (100,433) (81,430) (97,917) 23.3 % 2.6 % Other income net 17,752 51,797 10,602 (65.7)% 67.4 % Profit/(loss) before tax 3,173 34,374 (25,704) (90.8)% (112.3)% Income tax expense (10,363) (11,461) (7,097) (9.6)% 46.0 % (Loss)/profit for the period (7,190) 22,913 (32,801) (131.4)% (78.1)% Net profit margin (1.1)% 4.4 % (5.8)% (5.5) 4.7 Attributable to: Owners of the parent 25,725 44,816 7,952 (42.6)% 223.5 % Non-controlling interests (32,915) (21,903) (40,753) 50.3 % (19.2)% Earnings per share attributable to owners of the parent Basic ($) 0.015 0.026 0.005 (42.3)% 200.0 % Diluted ($) 0.015 0.026 0.005 (42.3)% 200.0 % ROE (Annualized) 1.6 % 2.8 % 0.4 % (1.2) 1.2
Page 4
4 HHGrace Proprietary 3Q 2025 Cash Flows 3Q 2025 3Q 2024 2Q 2025 (US$ ’000) (Unaudited) (Unaudited) (Unaudited) Cash and cash equivalents, beginning of period 3,846,900 6,423,866 4,079,935 Net cash generated from/(used in) operating activities 184,150 (26,838) 169,630 CapEx (261,894) (734,069) (407,728) Other net cash generated from investing activities 8,598 18,149 22,172 Net cash generated from/(used in) financing activities 104,163 (5,007) (25,185) Net increase/(decrease) in cash and cash equivalents 35,017 (747,765) (241,111) Effects of exchange rate changes on the balance of cash held in foreign currencies 22,816 90,648 8,076 Cash and cash equivalents, ending of period 3,904,733 5,766,749 3,846,900
Page 5
5 HHGrace Proprietary 3Q 2025 Balance Sheet (1) Debt ratio is calculated based on total liabilities/total assets. 30-Sep-25 30-Jun-25 (US$ ’000) (Unaudited) (Unaudited) Cash and cash equivalents 3,904,733 3,846,900 Restricted and time deposits 31,993 31,756 Trade and notes receivables 257,067 264,329 Inventories 526,840 513,434 Other current assets 739,674 688,534 Total Current Assets 5,460,307 5,344,953 PP&E 6,162,217 6,101,971 Equity instruments designated at fair value through other comprehensive income 381,305 290,515 Investment in associates 147,349 144,421 Other non-current assets 360,488 355,220 Total Non-current Assets 7,051,359 6,892,127 Total Assets 12,511,666 12,237,080 Short-term interest-bearing bank borrowings 340,686 341,313 Long-term interest-bearing bank borrowings 2,056,802 1,933,971 Total Bank Borrowings 2,397,488 2,275,284 Total Liabilities 3,502,618 3,363,437 Total Equity 9,009,048 8,873,643 Debt ratio (1) 28.0% 27.5%
Page 6
6 HHGrace Proprietary Capacity, Utilization and Shipment 391 391 413 447 468 105.3% 103.2% 102.7% 108.3% 109.5% 0% 20% 40% 60% 80% 100% 120% 0 75 150 225 300 375 450 525 3Q 2024 4Q 2024 1Q 2025 2Q 2025 3Q 2025 Capacity Capacity Utilization Capacity Utilization % Monthly Capacity (K 8” equivalent wafers) (1) Capacity utilization is calculated based on average monthly equivalent wafers output divided by total estimated monthly capacity. K wafers 3Q 2024 4Q 2024 1Q 2025 2Q 2025 3Q 2025 Monthly Capacity (8” equivalent wafers) 391 391 413 447 468 Wafer Shipments (8” equivalent wafers) 1,200 1,213 1,231 1,305 1,400 Overall capacity utilization 105.3% 103.2% 102.7% 108.3% 109.5%
Page 7
7 HHGrace Proprietary Revenue by Wafer Size 50.0% 46.8% 42.7% 41.0% 40.7% 50.0% 53.2% 57.3% 59.0% 59.3% 3Q 2024 (Unaudited) 4Q 2024 (Unaudited) 1Q 2025 (Unaudited) 2Q 2025 (Unaudited) 3Q 20265 (Unaudited) 8'' wafers 12'' wafers US$ million % US$ million % US$ million % 8'' wafers 258.8 40.7% 263.1 50.0% (4.3) (1.6)% 12'' wafers 376.4 59.3% 263.2 50.0% 113.2 43.0 % Total 635.2 100.0% 526.3 100.0% 108.9 20.7 % 3Q 2025 (Unaudited) 3Q 2024 (Unaudited) YoY Change
Page 8
8 HHGrace Proprietary Revenue by Geography 82.5% 83.7% 81.8% 83.0% 82.3% 8.9% 8.9% 10.4% 9.4% 10.0% 5.5% 4.8% 5.0% 5.0% 4.8% 3.1% 2.6% 2.8% 2.6% 2.9% 3Q 2024 (Unaudited) 4Q 2024 (Unaudited) 1Q 2025 (Unaudited) 2Q 2025 (Unaudited) 3Q 2025 (Unaudited) China North America Asia Europe US$ million % US$ million % US$ million % China 522.6 82.3% 434.5 82.5% 88.1 20.3 % North America 63.8 10.0% 46.7 8.9% 17.1 36.7 % Asia 30.3 4.8% 28.7 5.5% 1.6 5.6 % Europe 18.4 2.9% 16.4 3.1% 2.1 12.6 % Total 635.2 100.0% 526.3 100.0% 108.9 20.7 % 3Q 2025 (Unaudited) 3Q 2024 (Unaudited) YoY Change
Page 9
9 HHGrace Proprietary Revenue by Technology Platform 25.2% 25.4% 24.1% 24.9% 25.1% 5.6% 8.5% 7.9% 4.9% 9.5% 31.1% 30.7% 30.1% 29.5% 26.7% 14.6% 12.5% 12.3% 12.1% 12.8% 23.5% 22.9% 25.6% 28.6% 25.9% 3Q 2024 (Unaudited) 4Q 2024 (Unaudited) 1Q 2025 (Unaudited) 2Q 2025 (Unaudited) 3Q 2025 (Unaudited) Embedded NVM Standalone NVM Power discrete Logic & RF Analog & PM US$ million % US$ million % US$ million % Embedded NVM 159.7 25.1% 132.6 25.2% 27.1 20.4 % Standalone NVM 60.6 9.5% 29.3 5.6% 31.3 106.6 % Power discrete 169.0 26.7% 163.3 31.1% 5.8 3.5 % Logic & RF 81.1 12.8% 77.0 14.6% 4.1 5.3 % Analog & PM 164.8 25.9% 124.1 23.6% 40.7 32.8 % Total 635.2 100.0% 526.3 100.1% 108.9 20.7 % 3Q 2025 (Unaudited) 3Q 2024 (Unaudited) YoY Change
Page 10
10 HHGrace Proprietary Revenue by Technology Node 38.0% 37.1% 37.0% 35.5% 32.5% 0.8% 0.5% 0.7% 0.2% 0.5% 7.2% 5.8% 5.5% 5.1% 5.7% 13.0% 13.0% 10.0% 11.3% 11.5% 18.8% 19.7% 23.8% 25.7% 22.7% 22.2% 23.9% 23.0% 22.2% 27.1% 3Q 2024 (Unaudited) 4Q 2024 (Unaudited) 1Q 2025 (Unaudited) 2Q 2025 (Unaudited) 3Q 2025 (Unaudited) ≥0.35µm 0.25µ m 0.15µ m & 0.18µ m 0.11µ m & 0.13µ m 90nm & 95nm ≤65nm US$ million % US$ million % US$ million % ≤65nm 172.2 27.1% 116.6 22.2% 55.6 47.7 % 90nm & 95nm 144.4 22.7% 99.0 18.8% 45.4 45.9 % 0.11µ m & 0.13µ m 73.2 11.5% 68.3 13.0% 5.0 7.3 % 0.15µ m & 0.18µ m 36.5 5.7% 37.9 7.2% (1.4) (3.7)% 0.25µ m 3.2 0.5% 4.2 0.8% (1.0) (23.9)% ≥0.35µm 205.7 32.5% 200.4 38.0% 5.3 2.6 % Total 635.2 100.0% 526.3 100.0% 108.9 20.7 % 3Q 2025 (Unaudited) 3Q 2024 (Unaudited) YoY Change
Page 11
11 HHGrace Proprietary Revenue by End Market Distribution 62.9% 63.9% 64.3% 63.1% 64.1% 23.5% 23.0% 22.2% 22.8% 21.7% 12.5% 12.0% 12.1% 12.7% 12.6% 1.1% 1.1% 1.4% 1.4% 1.6% 3Q 2024 (Unaudited) 4Q 2024 (Unaudited) 1Q 2025 (Unaudited) 2Q 2025 (Unaudited) 3Q 2025 (Unaudited) Consumer Electronics Industrial & Automotive Communications Computing US$ million % US$ million % US$ million % Consumer Electronics 407.5 64.1% 330.9 62.9% 76.6 23.2 % Industrial & Automotive 137.9 21.7% 123.9 23.5% 14.0 11.3 % Communications 79.8 12.6% 66.0 12.5% 13.9 21.1 % Computing 9.9 1.6% 5.6 1.1% 4.4 78.3 % Total 635.2 100.0% 526.3 100.0% 108.9 20.7 % 3Q 2025 (Unaudited) 3Q 2024 (Unaudited) YoY Change
Page 12
12 HHGrace Proprietary 4Q 2025 Guidance • We expect revenue to be approximately US$650 million to US$660 million. • We expect gross margin to be in the range of 12% to 14%.
Page 13
13 HHGrace Proprietary http://www.huahonggrace.com ir@hhgrace.com
Page 14
THANK YOU 谢 谢