Due to the weak smartphone market and rising uncertainty in the cryptocurrency mining market, coupled with the appreciation of the exchange rate of the Taiwan dollar against the US dollar, TSMC estimated that the consolidated revenue in NT in the second quarter will be between 2,277.6 and 230.68 billion yuan. During the period, it fell by 7.0 to 8.2% from the previous quarter, which was lower than market expectations. TSMC also reduced its annual revenue growth target from 10-15% estimated at the beginning of the year to 10%.

Affected by the negative impact of TSMC’s downward revision this year, US stocks earlier in the day, TSMC ADR fell by more than 6%, fell to 39.38 US dollars.

Foundry leader TSMC held a legal briefing yesterday (19th). The company’s consolidated revenue in the first quarter reached US$8.459 billion, a decrease of 8.2% from the fourth quarter of last year and a 12.7% increase from the same period of last year. Affected by the appreciation of the exchange rate against the United States dollar, the NT$ consolidated revenue for the first quarter of the year fell 10.6% to 248.079 billion yuan, still 6.1% higher than the same period last year. SP506CF

TSMC’s co-chief executive Wei Zhejia said that the main reason for the outlook adjustment is that the demand for smart phones is lower than expected, and the demand for cryptocurrency mining ASIC market is also full of uncertainties.

TSMC’s average gross profit margin in the first quarter was 50.3%, and its operating profit rate was 39.0%. It was in line with its previous performance outlook. The single-season parent company’s net profit after tax fell 9.6% to RMB 89.788 billion, a growth of 24.6% compared to the same period last year, and net profit per share. 3.46 yuan, in line with market expectations. TSMC said that 28nm and more advanced process revenue has reached 61% of the total wafer sales.

However, TSMC’s outlook for the second quarter was conservative, mainly due to the weak demand from the smart phone market. It is expected that the consolidated revenue will be between US$7.8 billion and US$7.9 billion, representing a decline of 6.6 to 7.8% from the previous quarter and 10.5% from the same period of last year. ~11.9%. Under the assumption that the exchange rate of the New Taiwan dollar against the US dollar is 29.2 yuan, the consolidated revenue in NT will be between 2,277.6 and 230.68 billion yuan, down by 7.0 to 8.2% from the previous quarter, which is lower than market expectations, but the same period of last year. Compared to still grow 6.5 to 7.9%. BTW58-1500R

TSMC estimates that the gross profit margin for the second quarter is between 47 and 49%, and the operating profit rate is between 35 and 37%. This compares with the first quarter and the same period of last year. TSMC said that the main reasons include the appreciation of the Taiwan dollar and poor product mix.

Regarding cryptocurrency computing market ASIC market changes, TSMC said that related performance in the second quarter is still better than the first quarter, and the second half will be better than the first half, but after the recent cryptocurrency price drop, 28nm ASIC demand turns Weak, strong demand for 20nm and more advanced process ASICs, so this market is still conservative and cautious.

TSMC also revised its outlook for the semiconductor and foundry market this year. TSMC estimates that the annual growth rate of the semiconductor market that does not include memory this year is about 5%, which is only 5-7 percent of the bottom margin estimated at the beginning of the year; the foundry market grew by 8% from last year, slightly lower than the forecast at the beginning of the year. Increase by 9 to 10% annually. TSMC’s revenue in US dollars this year is about 10% higher than last year, lower than the annual increase of 10% to 15% expected at the beginning of the year.