UMC (2303 TT / UMC) FY25 (TWD): Revenue 237.6bln (exp. 235.6bln), Net 41.7bln (exp. 42.1bln)

• Revenue 61.81bln (prev. 59.13bln)
• Gross Margin 30.7% (prev. 29.8%)
• Net Income 10.06bln (prev. 14.98bln)
• EPS 0.81/shr (prev. 1.20/shr)

• "... flattish wafer shipments amid mild demand across most markets."
• Into Q1, "expect wafer demand to remain firm".
• "Confident that 2026 will be another growth year as tape-outs on our 22nm platforms accelerate and other new solutions continue to gain business traction."

UMC's FY25 results show slightly better revenue than expected but a miss on net income, indicating some pressure on profitability despite revenue growth. The co-president's comments suggest a cautious outlook for wafer demand, although they remain optimistic about growth potential moving into 2026. This mixed performance may influence sentiment towards the stock, reflecting concerns about demand and margins alongside revenue strengths.