TAIPEI (Taiwan News) — Silicon wafer supplier GlobalWafers said its Q2 revenue was NT$15 billion (US$458.9 million) on Wednesday (Aug. 7), a 1.6% increase from Q1.

According to a corporate meeting on Wednesday, the company’s consolidated revenue totaled NT$30.41 billion, a year-over-year decrease of 16.7%, per CNA. The gross profit margin was 33.3% and the net profit margin was 24.1%.

Net profit after tax was NT$6.41 billion, a year-over-year decrease of 34.5%, with an after-tax net profit margin of 21.1%. Earnings per share after tax were NT$14.04, per Liberty Times.

GlobalWafers said global economic growth is expected to remain stable in 2024, with a slight recovery anticipated in 2025. Despite inflationary challenges, the global economy has shown resilience. However, trade frictions and geopolitical risks persist, it said.

The company added advancements in 3D packaging technology to improve chip performance, increasing wafer usage. As electronic devices incorporate AI capabilities, a wave of device replacements may further increase demand for ICs and sensors, it explained.

Regarding its global expansion plans, GlobalWafers’ subsidiaries, GlobalWafers America (GWA) and MEMC LLC, will receive up to US$400 million in subsidies to construct the first advanced silicon wafer plant with an integrated process in the U.S. The plant will also be the only 12-inch advanced silicon-on-wafer (SOI) wafer production base in the U.S., helping to fill the gap in the country’s semiconductor supply chain.