United Microelectronic Corp.

The grade, in three tenses

Headline 5.8 out of ten, 8 of 9 metrics filed and 1 estimated: past 6.3 out of ten, present 6.2 out of ten, future 4.6 out of ten. The past asks what it actually did, the present what it is doing right now, the future what it is set up to do next.

The nine metrics

• Surviving crises (past): 7.6 out of ten. No warning events in its filings since 2017. 76th percentile among 99 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
• Track record (past): 6.6 out of ten. +5.4% a year over 10 filed years; profitable in 10 of 10. 66th percentile among 93 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
• Shareholder treatment (past): 3.5 out of ten. Share count grew 0.3% a year. 0% of cash flow returned. Insiders: 5 sales, 0 purchases. 36th percentile among 67 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
• Financial health (present): 5.7 out of ten. ROE 13%: 13¢ of profit per shareholder dollar. Leverage 35%: owes 35¢ per asset dollar. 57th percentile among 95 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
• Industry position (present): 7.1 out of ten. top 29% of 97 in its family; net margin 21%. 71st percentile among 97 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
• Leadership (present): 5.3 out of ten. CrossAssetData estimate 5.3/10, confidence 20 of 100 (family median). 50th percentile among 78 sector filers. A CrossAssetData estimate, not a filed reading: family median, confidence 20 of 100; its next annual report on file with the inputs replaces this estimate with the filed reading.
• Room to expand (future): 4.2 out of ten. bottom 42% of 94 in its family for room to expand. 42nd percentile among 94 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
• Growth drivers (future): 5.7 out of ten. top 43% of 93 in its family for growth drivers. 57th percentile among 93 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
• Expectations vs reality (future): 3.5 out of ten. bottom 35% of 88 in its family for expectations against reality. 35th percentile among 88 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).

The filing record

Newest annual report: Form 20-F filed 2026-04-30 for the period ended 2025-12-31 (on EDGAR). Newest filing: Form 6-K, 2026-10-06. Filings on record since 1997. Read from EDGAR 2026-10-12.

How the company works

Read from its Form 20-F filed 2026-04-30.

The people

Jason Wang became chief executive in 2026. He joined UMC in 2008 as vice president of corporate marketing, ran UMC Group (USA), its North American arm, from 2009 to 2014, and became co-president in 2017, overseeing strategy, sales and customer engineering; before UMC he spent 18 years at Trident Microsystems. Stan Hung, who joined in 1991 and was once chief financial officer, is chairman and chief strategic officer. Ming Hsu, who joined in 2003, is president and chief operating officer. Chitung Liu, a managing director of UBS before he joined in 2001, is chief financial officer, and TS Wu, who joined in 1990, runs the fabs worldwide as a senior vice president. [1, 2, 3, 4, 5, 6]

The chief executive and the president sit on the board as representatives of two of UMC's own shareholders, Silicon Integrated Systems and Hsun Chieh Investment, which hold 2.12% and 3.51% of its shares; UMC in turn owns 17.99% of Silicon Integrated Systems and 36.49% of Hsun Chieh. Six independent directors sit beside them, among them Lih J. Chen, the lead independent director and a former president of National Tsing Hua University, and Jyuo-Min Shyu, a former minister of science and technology and president of the Industrial Technology Research Institute. The insider record this site holds begins only in 2026: ten of the eleven people on it first filed on the same day in March, so it shows nothing yet of their tenure. [1, 4, 7, 8, 9, 10, 11, 12, 13]

At the end of 2025 UMC counted 19,097 employees: 12,337 engineers, 5,924 technicians and 836 administrative staff, most of them working in Taiwan. Of these, 1,591 were research and development professionals. No employees are covered by collective bargaining agreements. Employees share in the profits under the articles of incorporation; for 2025 the board proposed a cash bonus of NT$3,438.3 million, in New Taiwan dollars. [14, 15, 16, 17]

How it operates

UMC is a foundry: it makes chips to other companies' designs using its own manufacturing processes, and sells them mostly as processed silicon wafers. By application, communication chips made up 41.4% of 2025 wafer sales, consumer products 30.6%, computers 11.6% and other uses 16.4%. For customers who want finished chips it offers a turnkey service, subcontracting assembly and testing to Siliconware Precision Industries and Advanced Semiconductor Engineering in Taiwan. [18, 19, 20, 21, 22]

Its customers come in two kinds: fabless design companies, meaning chip designers with no factories of their own, which bought 80.9% of 2025 wafer sales, and integrated device manufacturers, which also make chips themselves and bought 19.1%. The filing names Texas Instruments and Intel among the manufacturers and MediaTek, Realtek and Novatek among the designers. The top ten customers took 57.0% of revenue in 2025 and the largest alone 11.8%; the largest of 2023, at 13.1%, was a different company from the one that led in 2024 and 2025. [23, 24, 25, 26, 27]

Counted by where customers have their headquarters, Taiwan brought in 38.6% of 2025 revenue, up from 30.7% in 2023; the United States 22.0%, down from 26.6%; China including Hong Kong 15.8%; Korea 10.7%; Europe 8.5%; and Japan 4.4%. Asian sales are run from the main office in Taiwan, European sales through a subsidiary in Amsterdam and North American sales through UMC Group (USA) in Silicon Valley. [28, 29]

UMC runs its own factories and owns nearly all the equipment in them. It has twelve fabs: eight in Taiwan, all in the Hsinchu Science Park except Fab 12A in the Southern Taiwan Science Park; Fab 12i in Singapore; Fab 8N in Suzhou and Fab 12X in Xiamen, China; and Fab 12M in Mie, Japan. Four of them process 12-inch wafers, and all run around the clock. Its equipment comes mainly from Europe, Japan and the United States, and its raw silicon wafers chiefly from Shin-Etsu, GlobalWafers, Sumco Group and Soitec. [30, 31, 32, 33, 34, 35]

It prices by the wafer or by the die, weighing the technology, market conditions, order size, cycle time, the relationship with the customer and how full its fabs are. Fullness matters because most costs are fixed: in 2025 about 70.8% of manufacturing costs were depreciation, license amortization, indirect labor, utilities and part of indirect materials, so higher utilization spreads them over more wafers. The fabs ran at 75.2% of capacity in 2025, up from 68.5% in 2023 and 68.7% in 2024. The company reports in New Taiwan dollars and, for convenience, converts to US dollars at NT$31.37 to the dollar. [36, 37, 38, 39, 40]

The specifics

UMC does not race for the smallest transistors, by choice. It says building the earliest and most advanced technology without near-term volume may prove costly, so it prefers to buy improved, cheaper versions of the equipment once demand arrives. It introduced 28nm to customers in 2011 and put 22nm into volume production in 2021, and it has shipped 14nm FinFET wafers since 2017. Around that logic it offers specialty processes: embedded memory for microcontrollers and cars, high-voltage processes for display drivers, and processes for image sensors, power management and radio-frequency chips. [41, 42, 43, 44, 45, 46]

Its route into American production runs through partners. Under a collaboration signed with Intel in January 2024 the two are developing a 12nm process together: Intel completed the technology transfer in 2025, qualification at Intel's Arizona fab is expected to be completed in 2026, and the company expects 12nm production to begin in 2027. In December 2025 it signed a memorandum of understanding with Polar Semiconductor to explore 8-inch wafer production in the United States, and it licensed imec's iSiPP300 silicon photonics process to bring a 12-inch photonics platform to market. In 2022 it agreed with DENSO to produce power chips for cars together at the 300mm fab of USJC, its Japanese subsidiary. [47, 48, 49, 50, 51, 52]

The filing names no competitor. It says UMC competes with other dedicated foundries and with chip makers that have fabs of their own, that some rivals have far greater resources, and that new foundries competing directly are likely to push prices down and create overcapacity in older technologies. It protects its processes with more than 16,700 patents worldwide, more than 7,490 of them in the United States, and holds patent cross-licenses with IBM and Broadcom, among others. [53, 54, 55, 56]

Politics shapes where it can sell and build. New US export rules from January 2025 put due diligence duties on foundries, UMC included, and the filing warns that tension in the Taiwan Strait could deter customers from placing orders. UMC was incorporated in Taiwan in May 1980, listed on the Taiwan Stock Exchange in 1985 and on the New York Stock Exchange in 2000. It set up its Xiamen fab company in 2014 and, since July 2023, owns all of it together with Hejian, its Chinese subsidiary. An earthquake in January 2025 damaged wafers in process at Fab 12A in Tainan. [57, 58, 59, 60, 61, 62, 63, 64]

What drives growth, line by line

Revenue, reported in New Taiwan dollars, rose 2.3% in 2025 to NT$237,553 million (US$7,573 million), still below the 278.7 billion of 2022. The filing credits more wafers shipped, 3,870 thousand 12-inch equivalents against 3,446 thousand, partly offset by a 5.4% fall in the average selling price and a 2.9% rise of the New Taiwan dollar against the US dollar. Profit fell as sales rose: gross margin slid from 32.6% to 29.0%, and net income fell 17.3% to NT$40,360 million. [65, 66, 67, 68]

Communication. The largest application: 41.4% of 2025 wafer sales, down from 42.1% in 2024 and 45.1% in 2023. The filing does not say what moved it; networking and telecommunications are among the high-volume uses it says it focuses on. [20, 69]

Consumer. 30.6% of 2025 wafer sales, up from 28.4% in 2024 and 24.0% in 2023, the one application whose share grew in both years. The filing does not say what drove it; the consumer uses it names for its processes include display driver chips, set-top boxes, digital TVs and wearables. [20, 45, 70]

Computer. 11.6% of 2025 wafer sales, down from 13.5% in 2024 after rising from 11.0% in 2023. The filing gives no reason for the move. [20]

Others. 16.4% of 2025 wafer sales, against 16.0% in 2024 and 19.9% in 2023; the filing does not break this group down. [20]

By technology, the mix moved toward the smaller nodes: 28nm and below rose to 36.8% of wafer sales from 33.7% in 2024 and 30.7% in 2023, and 40nm to 16.1% from 13.8%, while 90nm fell to 7.6% from 10.7% and 0.11 to 0.13 micron to 7.4% from 10.2%. Nodes of 14nm and under stayed at 0.0%. The filing counts this mix among the main factors in revenue and profit, because wafers made with more complex technology command higher prices. [71, 72, 73, 74]

What comes next, in the company's own words: the first phase of a new fab beside Fab 12i in Singapore, designed for 30,000 wafers a month on 28nm and 22nm processes, with production expected to commence in the second half of 2026; 12nm production with Intel, expected to begin in 2027; and expansion projects it says are backed by customers who signed multi-year supply agreements. Capital spending fell to NT$50,562 million in 2025 from NT$91,052 million in 2024. [75, 76, 48, 77, 78]

What the desk infers (inferred, not filed)

• The one customer above a tenth of revenue in 2024 and 2025 is most likely headquartered in Taiwan, UMC's home market, rather than in the United States or China. Because: The filing counts the same Customer A above a tenth of revenue in 2024 and 2025, at 10.4% and then 11.8%, the largest customer in both years. [26, 27] Customers headquartered in Korea, Europe and Japan brought in 10.7%, 8.5% and 4.4% of 2025 revenue, each less than that one customer alone, so it must be headquartered in Taiwan, China or the United States. [28, 26] As that customer grew from below a tenth in 2023, Taiwan's share of revenue rose from 30.7% to 36.1% and then 38.6%, while the United States fell from 26.6% to 25.0% and then 22.0%, and China slipped from 16.0% to 15.8% in 2025. [28, 27] Confidence 60 of 100. Wrong if: A disclosure by UMC or by the customer showing that Customer A is headquartered in the United States or China.
• In practice UMC's leading edge is 28 and 22 nanometers. The 14nm process it has shipped since 2017 has not grown into a measurable share of sales, the capacity it is adding itself runs 28nm and 22nm, and its next step down, 12nm, is being set up in Intel's factory rather than its own. Because: Nodes of 14nm and under made up 0.0% of wafer sales in each of 2023, 2024 and 2025. [71] It has shipped 14nm wafers to customers since March 2017. [43] The new Singapore fab will use 28nm and 22nm processes. [76] Its 12nm process is being qualified at Intel's Arizona fab, with production expected to begin in 2027. [48] It says developing the most advanced technology without near-term volume may prove costly, and prefers to buy proven equipment later. [41] Confidence 75 of 100. Wrong if: A year in which the filing's table shows nodes of 14nm and under above zero, or a plan to run 12nm or smaller in a fab UMC owns.
• UMC's prices fell like for like in 2025, not through a shift toward cheaper wafers: its average price dropped even as its mix moved toward the more complex wafers that command higher prices, which fits the price competition in older technologies that the filing warns new foundries bring. Because: The average selling price fell 5.4% in 2025 after 5.0% in 2024, which the filing calls nominal price erosion. [79] Over the same year 28nm and below rose from 33.7% to 36.8% of wafer sales and 40nm from 13.8% to 16.1%, while 90nm and 0.11 to 0.13 micron shrank. [71] The filing says wafers made with more complex technology generally command higher prices, though prices for any one technology generally decline over its life. [74, 80] Shipments rose from 3,446 thousand to 3,870 thousand 12-inch equivalent wafers, so it was price, not volume, that fell. [66] It warns that new foundries competing directly are likely to start a trend of competitive pricing and overcapacity in legacy technology. [54] Confidence 60 of 100. Wrong if: A filing that attributes the 2025 fall in average price mainly to a shift toward cheaper wafers or to the currency, rather than to lower prices for the same wafers.

Sources

1. United Microelectronic Corp., Form 20-F filed 2026-04-30: “Jason Wang is a director and Chief Executive Officer of the Company. Mr. Wang is a representative institutional director of Silicon Integrated Systems Corp. Mr. Wang joined the Company as Vice President of Corporate Marketing in 2008, and from 2009 to 2014 served as President of UMC Group (USA), responsible for business operations and North America strategic business development.”
2. United Microelectronic Corp., Form 20-F filed 2026-04-30: “He was later appointed Senior Vice President, and became Co-President in 2017. As Co-President, Mr. Wang oversaw corporate strategy and planning, sales and marketing, and customer engineering. He was named Chief Executive Officer in 2026. Prior to joining the Company, Mr. Wang spent 18 years at Trident Microsystems in various leadership roles.”
3. United Microelectronic Corp., Form 20-F filed 2026-04-30: “Stan Hung is a director, the Chairman and Chief Strategic Officer of the Company. Mr. Hung joined the Company in 1991 and previously served as the Company’s Chief Financial Officer and Senior Vice President.”
4. United Microelectronic Corp., Form 20-F filed 2026-04-30: “Ming Hsu is a director, President and Chief Operating Officer of the Company. Mr. Hsu is the representative institutional director of Hsun Chieh Investment Co., Ltd. Mr. Hsu joined the Company in 2003, and has held leadership roles across functions including IP and design support, sales operations, corporate and operation planning, corporate marketing, and customer engineering.”
5. United Microelectronic Corp., Form 20-F filed 2026-04-30: “Chitung Liu is the Chief Financial Officer and the Senior Vice President of the Company. On March 6, 2019, Mr. Liu was appointed as our Head of Corporate Governance. Prior to joining our company in 2001, Mr. Liu was a managing director of UBS.”
6. United Microelectronic Corp., Form 20-F filed 2026-04-30: “TS Wu is our Senior Vice President, responsible for global fab operations, and serves as Chief Information Security Officer. Mr. Wu joined the Company in 1990 and has over 35 years of experience in semiconductor development and manufacturing.”
7. United Microelectronic Corp., Form 20-F filed 2026-04-30: “The following table shows our aggregate equity ownership interest, on a consolidated basis, in major related fabless design companies that we enter into transactions from time to time as of March 29, 2026. Name Ownership % Silicon Integrated Systems Corp. 17.99 Faraday Technology Corp. 13.80”
8. United Microelectronic Corp., Form 20-F filed 2026-04-30: “36.49% owned by United Microelectronics Corporation as of March 31, 2026.”
9. United Microelectronic Corp., Form 20-F filed 2026-04-30: “Hsun Chieh Investment Co., Ltd. held approximately 441 million of our common shares, representing approximately 3.51% of our issued and outstanding share capital; Silicon Integrated Systems Corp. held approximately 267 million of our common shares, representing approximately 2.12% of our issued and outstanding share capital”
10. United Microelectronic Corp., Form 20-F filed 2026-04-30: “except for our independent directors Lih J. Chen, Jyuo-Min Shyu, Kuang Si Shiu, Wen-Hsin Hsu, Ling-Ling Wu and Su Lin Wang.”
11. United Microelectronic Corp., Form 20-F filed 2026-04-30: “Lih J. Chen is an independent director of the Company and serves as the lead independent director and the convener of the Audit Committee. Professor Chen is the Distinguished Chair Professor at National Tsing Hua University and an Academician at Academia Sinica. He previously served as the President of National Tsing Hua University and the Deputy Minister of National Science Council.”
12. United Microelectronic Corp., Form 20-F filed 2026-04-30: “He previously served as Minister of Ministry of Science and Technology and the President of Industrial Technology Research Institute (ITRI).”
13. The record on this page: the officers and directors who file Forms 3, 4 and 5 (the SEC's insider data sets)
14. United Microelectronic Corp., Form 20-F filed 2026-04-30: “As of December 31, 2025, we had 19,097 employees, which included 12,337 engineers, 5,924 technicians and 836 administrative staff performing administrative functions, on a consolidated basis, where a majority of the employees work from our Taiwan R.O.C. offices and facilities.”
15. United Microelectronic Corp., Form 20-F filed 2026-04-30: “As of December 31, 2025, we employed 1,591 professionals in our research and development activities.”
16. United Microelectronic Corp., Form 20-F filed 2026-04-30: “Our employees are not covered by any collective bargaining agreements.”
17. United Microelectronic Corp., Form 20-F filed 2026-04-30: “Our employees participate in our profit distribution pursuant to our articles of incorporation. Employees are entitled to receive additional bonuses based on a certain percentage of our allocable surplus income. On February 25, 2026, our board of directors proposed an employee bonus in cash in the aggregate amount of NT$3,438.3 million (US$109.6 million) in relation to retained earnings in 2025.”
18. United Microelectronic Corp., Form 20-F filed 2026-04-30: “Our primary business is the manufacture, or “fabrication”, of semiconductors, sometimes called “chips” or “integrated circuits”, for others. Using our own proprietary processes and techniques, we make chips to the design specifications of our many customers.”
19. United Microelectronic Corp., Form 20-F filed 2026-04-30: “We sell and market mainly wafers which in turn are used in a number of different applications by our customers.”
20. United Microelectronic Corp., Form 20-F filed 2026-04-30: “Years Ended December 31, Application 2023 2024 2025 % % % Communication 45.1 42.1 41.4 Consumer 24.0 28.4 30.6 Computer 11.0 13.5 11.6 Others 19.9 16.0 16.4”
21. United Microelectronic Corp., Form 20-F filed 2026-04-30: “We offer our customers turnkey solutions by providing the option to purchase finished semiconductor products that have been assembled and tested.”
22. United Microelectronic Corp., Form 20-F filed 2026-04-30: “We outsource assembly and test services to leading assembly and test service providers, including Siliconware Precision Industries Co., Ltd., or Siliconware, and Advanced Semiconductor Engineering Inc. in Taiwan.”
23. United Microelectronic Corp., Form 20-F filed 2026-04-30: “Fabless design companies design, develop and distribute proprietary semiconductor products but do not maintain internal manufacturing capacity. Instead, these companies depend on third party manufacturing sources. Integrated device manufacturers, in contrast, generally have integrated internally some or all functions—manufacturing as well as design, development, sales and distribution.”
24. United Microelectronic Corp., Form 20-F filed 2026-04-30: “Years Ended December 31, Customer Type 2023 2024 2025 % % % Fabless design companies 78.3 84.3 80.9 Integrated device manufacturers 21.7 15.7 19.1”
25. United Microelectronic Corp., Form 20-F filed 2026-04-30: “Our primary customers, in terms of our sales revenues, include premier integrated device manufacturers, such as Texas Instruments and Intel, plus leading fabless design companies, such as MediaTek, Realtek and Novatek.”
26. United Microelectronic Corp., Form 20-F filed 2026-04-30: “Our top ten customers accounted for 62.0%, 55.6% and 57.0% of our operating revenues in 2023, 2024 and 2025, respectively. Our largest customer from our wafer fabrication segment accounted for 13.1%, 10.4% and 11.8% of our operating revenues in 2023, 2024 and 2025, respectively.”
27. United Microelectronic Corp., Form 20-F filed 2026-04-30: “Customer A N/A (Note) $ 24,180,535 $ 28,005,843 Customer B $ 29,242,973 N/A (Note) N/A (Note) Note: The sales amount is less than 10% of the Company’s operating revenues.”
28. United Microelectronic Corp., Form 20-F filed 2026-04-30: “Set forth below is a geographic breakdown of our operating revenues in 2023, 2024 and 2025 by the location where our customers are headquartered. Years Ended December 31, Region 2023 2024 2025 % % % Taiwan 30.7 36.1 38.6 China (including Hong Kong) 12.4 16.0 15.8 Japan 5.2 3.9 4.4 Korea 13.9 11.3 10.7 USA 26.6 25.0 22.0 Europe 11.2 7.7 8.5”
29. United Microelectronic Corp., Form 20-F filed 2026-04-30: “Our main sales office is located in Taiwan, which is in charge of our sales activities in Asia. United Microelectronics (Europe) BV, our wholly-owned subsidiary based in Amsterdam, assists our sales to customers in Europe. Our sales in North America are made through UMC Group (USA), our subsidiary located in Silicon Valley.”
30. United Microelectronic Corp., Form 20-F filed 2026-04-30: “The fabs in Taiwan that we own directly are named Wavetek, Fab 8A, Fab 8C, Fab 8D, Fab 8E, Fab 8F, Fab 8S and Fab 12A. All of them are located in the Hsinchu Science Park except for Fab 12A which is located in the Southern Taiwan Science Park. The fab in Singapore is named Fab 12i. The fabs in China are named Fab 8N and Fab 12X, located in Suzhou and Xiamen, respectively. The fab in Japan is named Fab 12M located in Mie.”
31. United Microelectronic Corp., Form 20-F filed 2026-04-30: “As one of our four 12-inch fabs in geographically diverse locations, USCXM provides global customers with high-quality fabrication services and varied manufacturing options.”
32. United Microelectronic Corp., Form 20-F filed 2026-04-30: “All of our fabs operate 24 hours per day, seven days per week.”
33. United Microelectronic Corp., Form 20-F filed 2026-04-30: “We own all of the production equipment except for a few demonstration tools.”
34. United Microelectronic Corp., Form 20-F filed 2026-04-30: “capital expenditures relating to equipment used in manufacturing processes (including lithography, etching and chemical vapor deposition) and purchased primarily from Europe, Japan and the United States.”
35. United Microelectronic Corp., Form 20-F filed 2026-04-30: “The principal makers for our wafers are Shin-Etsu, GlobalWafers, Sumco Group and Soitec.”
36. United Microelectronic Corp., Form 20-F filed 2026-04-30: “We price our products on a per die or per wafer basis, taking into account the complexity of the technology, the prevailing market conditions, the order size, the cycle time, the strength and history of our relationship with the customer and our capacity utilization.”
37. United Microelectronic Corp., Form 20-F filed 2026-04-30: “Our operating results are characterized by relatively high fixed costs. In 2023, 2024 and 2025, approximately 63.9%, 69.6% and 70.8%, respectively, of our manufacturing costs consisted of depreciation, a portion of indirect material costs, amortization of license fees, indirect labor and utilities costs.”
38. United Microelectronic Corp., Form 20-F filed 2026-04-30: “If our utilization rates increase, our costs would be allocated over a larger number of units, which generally leads to lower unit costs. As a result, our capacity utilization rates can significantly affect our margins.”
39. United Microelectronic Corp., Form 20-F filed 2026-04-30: “Our average capacity utilization rate was 68.5% in 2023, 68.7% in 2024 and 75.2% in 2025.”
40. United Microelectronic Corp., Form 20-F filed 2026-04-30: “For the convenience of readers, NT dollar amounts used in this section for, and as of, the year ended December 31, 2025, have been converted into U.S. dollar amounts using US$1.00 = NT$31.37”
41. United Microelectronic Corp., Form 20-F filed 2026-04-30: “We believe that developing the earliest and most advanced semiconductor technology without regard to its potential for near-term volume production may prove costly to our operations and would not strengthen our competitive position. We therefore believe it is beneficial to defer investment in premature equipment needed to claim the earliest advanced technology and instead to purchase more advanced and less expensive versions of such equipment from vendors who design this equipment based on pre-production lessons learned from the earliest technology.”
42. United Microelectronic Corp., Form 20-F filed 2026-04-30: “We introduced our 28-nanometer technology to customers in 2011 and commenced large-scale commercial production in 2014. The development of 22nm started in 2018 and entered into volume production in 2021.”
43. United Microelectronic Corp., Form 20-F filed 2026-04-30: “In March 2017, we commenced shipments of 14nm wafers to customers and achieved production quality yields for the advanced process that is being utilized for consumer electronic applications.”
44. United Microelectronic Corp., Form 20-F filed 2026-04-30: “Furthermore, we have successfully developed specialty technologies such as 55/40/28/22nm embedded memory for MCU and automotive products.”
45. United Microelectronic Corp., Form 20-F filed 2026-04-30: “We also offer 55/40/28/22/14nm eHV device for display drivers.”
46. United Microelectronic Corp., Form 20-F filed 2026-04-30: “Moreover, we offer 55/28/22nm BSI-CSI for image sensors, 110/55nm BCD for power management circuits, and RF-SOI technologies of 110/90/55/40nm nodes, covering both custom and platform for RF device applications.”
47. United Microelectronic Corp., Form 20-F filed 2026-04-30: “On January 25, 2024, we entered into a collaboration with Intel Corporation (the “Collaboration”), pursuant to which the parties agreed to jointly develop and commercialize new 12nm-related technology.”
48. United Microelectronic Corp., Form 20-F filed 2026-04-30: “In 2025, Intel completed the technology transfer based on our electrical design rules and UMC-verified process, successfully replicating our 12nm FinFET process with its advantages of high performance, low power consumption and small chip area. Currently, the qualification of technology transfer is being accelerated at Intel’s Arizona fab in the United States and is expected to be completed in 2026. Production of the 12nm FinFET process is expected to begin in 2027.”
49. United Microelectronic Corp., Form 20-F filed 2026-04-30: “On December 4, 2025, we signed a memorandum of understanding (“MOU”) with Polar Semiconductor, LLC to explore collaboration on delivering scalable U.S.-based 8-inch production of high-quality wafers that are essential across pillar industries including automotive, data centers, consumer electronics, and aerospace and defense.”
50. United Microelectronic Corp., Form 20-F filed 2026-04-30: “On December 8, 2025, we announced a licensing agreement with imec, a world-leading research and innovation hub in advanced semiconductor technologies, for the transfer of imec’s iSiPP300 silicon photonics process, featuring co-packaged optics (CPO) compatibility, to accelerate our silicon photonics roadmap. The licensed technology will enable us to bring a 12-inch silicon photonics platform to market targeting next-generation connectivity.”
51. United Microelectronic Corp., Form 20-F filed 2026-04-30: “In 2022, we agreed to jointly work on the production of power semiconductors at USJC’s 300mm fab to serve growing demand in the automotive market.”
52. United Microelectronic Corp., Form 20-F filed 2026-04-30: “UNITED SEMICONDUCTOR JAPAN CO., LTD. (USJC) Sales and manufacturing of integrated circuits”
53. United Microelectronic Corp., Form 20-F filed 2026-04-30: “We compete internationally and domestically with dedicated foundry service providers, as well as with integrated device manufacturers and final product manufacturers which have in-house manufacturing capacity or foundry operations. Some of our competitors have substantially greater production, financial, research and development and marketing resources than we have.”
54. United Microelectronic Corp., Form 20-F filed 2026-04-30: “In addition, several new dedicated foundries have commenced operations and compete directly with us. New entrants in the foundry business are likely to initiate a trend of competitive pricing and create potential overcapacity in legacy technology.”
55. United Microelectronic Corp., Form 20-F filed 2026-04-30: “As of December 31, 2025, we had obtained more than 16,700 patents worldwide, of which more than 7,490 patents were in the U.S.”
56. United Microelectronic Corp., Form 20-F filed 2026-04-30: “We have entered into various patent cross-licenses with major technology companies, including a number of leading international semiconductor companies, such as IBM and Broadcom Inc.”
57. United Microelectronic Corp., Form 20-F filed 2026-04-30: “Most recently, in January 2025, the U.S. Department of Commerce’s Bureau of Industry and Security, or BIS, issued additional rules expanding controls worldwide on advanced computing integrated circuits, and imposing new due diligence requirements on semiconductor foundries and outsourced semiconductor assembly and test (“OSAT”) companies, including us.”
58. United Microelectronic Corp., Form 20-F filed 2026-04-30: “Furthermore, political tensions in the Taiwan Strait, including any threat of potential military confrontation between China and Taiwan, as well as U.S. involvement of any such military operations, could have a material adverse effect on our business by, among other things, making it more difficult for us to coordinate our operations between the United States and China and discouraging customers to place orders with us.”
59. United Microelectronic Corp., Form 20-F filed 2026-04-30: “We were incorporated under the R.O.C. Company Law as a company limited by shares in May 1980 and our common shares are listed on the Taiwan Stock Exchange since 1985.”
60. United Microelectronic Corp., Form 20-F filed 2026-04-30: “Our ADSs have been listed on the NYSE under the symbol “UMC” since September 19, 2000.”
61. United Microelectronic Corp., Form 20-F filed 2026-04-30: “In 2014, we established United Semiconductor (Xiamen) Co., Ltd., or USCXM, based in Xiamen, Fujian Province, China that focuses on 12-inch wafer foundry services.”
62. United Microelectronic Corp., Form 20-F filed 2026-04-30: “After the completion of the transaction in July 2023, the Company and Hejian hold 100% of the shares of USCXM, and USCXM has increased its contribution to the overall financial performance of UMC.”
63. United Microelectronic Corp., Form 20-F filed 2026-04-30: “the board of directors of our PRC subsidiary, Hejian, approved the disposal of its ownership in UnitedDS Semiconductor (Shandong) Co., Ltd.”
64. United Microelectronic Corp., Form 20-F filed 2026-04-30: “Additionally, in January 2025, a 6.4 magnitude earthquake occurred in southern Taiwan, causing damage to some work-in-progress wafers at our Fab 12A factory in Tainan.”
65. The record on this page: the filed annual figures (EDGAR's company facts)
66. United Microelectronic Corp., Form 20-F filed 2026-04-30: “Operating revenues increased by 2.3% from NT$232,303 million in 2024 to NT$237,553 million (US$7,573 million) in 2025, primarily due to an increased customer demand from 3,446 thousand 12-inch equivalent wafers in 2024 to 3,870 thousand 12-inch equivalent wafers in 2025, partially offset by a decline of 5.4% in average selling price from 2024 to 2025, and a 2.9% appreciation of the NTD against the U.S. dollar in 2025 compared to 2024.”
67. United Microelectronic Corp., Form 20-F filed 2026-04-30: “Our gross margin decreased from 32.6% in 2024 to 29.0% in 2025, primarily due to an annual decline of 5.4% in average selling price and a 2.9% appreciation of the NTD against the U.S. dollar in 2025 compared to 2024, partially offset by the increase in capacity utilization.”
68. United Microelectronic Corp., Form 20-F filed 2026-04-30: “Due to the factors described above, our net income decreased by 17.3% from NT$48,779 million in 2024 to NT$40,360 million (US$1,287 million) in 2025.”
69. United Microelectronic Corp., Form 20-F filed 2026-04-30: “while continuing to focus on manufacturing for high growth, large volume applications, including networking, telecommunications, internet, multimedia, PCs and graphics.”
70. United Microelectronic Corp., Form 20-F filed 2026-04-30: “The 22nm platform is supported by our foundation IP and is ideal for a wide variety of semiconductor applications including consumer ICs for set-top boxes, digital TVs, surveillance, power- or leakage-sensitive IoT chips (with Bluetooth or Wi-Fi) and wearable products that require longer battery life.”
71. United Microelectronic Corp., Form 20-F filed 2026-04-30: “The table below sets forth a breakdown of percentage of our wafer sales by process technologies in 2023, 2024 and 2025. Years Ended December 31, Process Technologies 2023 2024 2025 % % % 14 nanometers and under 0.0 0.0 0.0 28 nanometers 30.7 33.7 36.8 40 nanometers 13.7 13.8 16.1 65 nanometers 19.2 16.0 17.0 90 nanometers 9.6 10.7 7.6 0.11/0.13 micron 10.6 10.2 7.4”
72. United Microelectronic Corp., Form 20-F filed 2026-04-30: “Our 28nm and below technologies contributed approximately 30.7%, 33.7% and 36.8% of our foundry revenue in 2023, 2024 and 2025 respectively.”
73. United Microelectronic Corp., Form 20-F filed 2026-04-30: “Because the price of wafers processed with different technologies varies significantly, the mix of wafers that we produce is among the primary factors that affect our revenues and profitability.”
74. United Microelectronic Corp., Form 20-F filed 2026-04-30: “Production of devices with higher levels of functionality and performance, with better yields and lower defect density as well as with greater system-level integration requires better manufacturing expertise and generally commands higher wafer prices.”
75. United Microelectronic Corp., Form 20-F filed 2026-04-30: “our board of directors approved a plan to build a new advanced manufacturing facility next to our existing 300mm fab (Fab 12i) in Singapore.”
76. United Microelectronic Corp., Form 20-F filed 2026-04-30: “The first phase of this greenfield fab is expected to have a design capacity of 30,000 wafers per month, with production expected to commence in the second half of 2026. The new fab (Fab 12i P3) will utilize 28nm and 22nm process technologies.”
77. United Microelectronic Corp., Form 20-F filed 2026-04-30: “We will continue to employ a ROI-driven approach in our capital expenditure planning as our expansion projects will be supported by customers who have signed multi-year supply agreements with us.”
78. United Microelectronic Corp., Form 20-F filed 2026-04-30: “In 2023, 2024 and 2025, we incurred capital expenditures of approximately NT$94,087 million, NT$91,052 million and NT$50,562 million (US$1,612 million), respectively, primarily to purchase equipment for research and development and production at our fabs.”
79. United Microelectronic Corp., Form 20-F filed 2026-04-30: “Our average selling price decreased by 5.0% from 2023 to 2024 and decreased by 5.4% from 2024 to 2025, which reflects the nominal price erosion in 2024 and 2025.”
80. United Microelectronic Corp., Form 20-F filed 2026-04-30: “Prices for wafers of a given level of technology generally decline over the processing technology life cycle.”

Who runs it

Wang, Jason Shi (Chief Executive Officer); Hung, Chia-Tsung (Chairman & CSO); Lin, Jen-Tsung (Vice President); Hu, Che-Jen (Vice President); Chen, Ming-Tsung (Vice President); Cheng, Tzyy-Ming (Vice President); Chuang, Yu-Chih (Vice President); Hsu, Shih-Chieh (Vice President); Hsu, Shu-Fen (Vice President); Kuo, Lin-Wu (Vice President); and 20 more. 30 officers and directors have filed their own trades in the last fifteen months, names and titles as filed with the SEC, through 2026-09-30.

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