Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) chairman Mark Liu (劉德音) and chief executive officer C.C. Wei (魏哲家) each received about NT$422 million (US$14.89 million) in compensation last year, when the contract chipmaker’s net profit smashed records.
Liu’s and Wei’s pay rose NT$129 million, or 44 percent, from a year earlier, as the chipmaker reported a nearly 50 percent year-on-year increase in net income to NT$517.89 billion last year, TSMC said in its annual report.
Earnings per share were NT$19.97, a significant increase from NT$13.32 a year earlier, as the company benefited from global demand for its high-end 5-nanometer and 7-nanometer process chips used in emerging technologies such as 5G applications, high-performance computing devices and the Internet of Things.
Photo: CNA
Consolidated sales for last year also reached a record NT$1.34 trillion, up from NT$1.07 trillion a year earlier. In US dollar terms, sales rose 31.4 percent from a year earlier, beating the average growth of 10 percent in the global semiconductor industry.
The company shipped 12.4 million 12-inch-equivalent wafers, up from 10.1 million units in 2019, while sales of chips made using a 16-nanometer process and more advanced technologies, including the 5 and 7-nanometer processes, accounted for 58 percent of the company’s total sales, up from 50 percent a year earlier, the annual report showed.
Last year, the company provided 281 different production technologies to its 510 customers and rolled out 11,617 products, it said.
The company accounted for 24 percent of total production value in the global semiconductor industry, excluding the memorychip segment, up from 21 percent in 2019, it said.
In the report, Liu and Wei thanked shareholders for their support and trust in the company.
Several other TSMC executives received annual compensation topping NT$100 million last year, the report showed.
These executives included senior vice president of Europe and Asia sales Lora Ho (何麗梅), senior vice president of operations Y.P. Chin (秦永沛), senior vice president of research and development Y.J. Mii (米玉傑), senior vice president of information technology, materials and risk management J.K. Lin (林錦坤) and senior vice president of research and development Lo Wei-jen (羅唯仁).
Chief financial officer Wendell Huang (黃仁昭), senior vice president of corporate planning J.K. Wang (王建光), senior vice president of Europe and Asia sales and corporate research under research and development Cliff Hou (侯永清), senior vice president of business development Kevin Zhang (張曉強) and vice president and general counsel Sylvia Fang (方淑華) each received compensation of NT$50 million to NT$100 million, TSMC said.
Taiwan’s foreign exchange reserves fell below the US$600 billion mark at the end of last month, with the central bank reporting a total of US$596.89 billion — a decline of US$8.6 billion from February — ending a three-month streak of increases. The central bank attributed the drop to a combination of factors such as outflows by foreign institutional investors, currency fluctuations and its own market interventions. “The large-scale outflows disrupted the balance of supply and demand in the foreign exchange market, prompting the central bank to intervene repeatedly by selling US dollars to stabilize the local currency,” Department of Foreign
Intel Corp is joining Elon Musk’s long-shot effort to develop semiconductors for Tesla Inc, Space Exploration Technologies Corp and xAI, marking a surprising twist in the chipmaker’s comeback bid. Intel would help the Terafab project “refactor” the technology in a chip factory, the company said on Tuesday in a post on X, Musk’s social media platform. That is a stage in the development process that typically helps make chips more powerful or reliable. The chipmaker’s shares jumped 4.2 percent to US$52.91 in New York trading on Tuesday. The Terafab project is a grand plan by Musk to eventually manufacture his own chips for
Taiwan Power Co (Taipower, 台電) yesterday said it plans to resume operations at two coal-fired power generators for three months to boost security of electricity supply as liquefied natural gas (LNG) supply risks are running high due to the Middle East conflict. The two coal-fired power generators are at Mailiao Power Plant in Yunlin County’s Mailiao Township (麥寮). The plant, operated by Formosa Plastics Group (台塑集團), supplied electricity to Taipower’s power grid until the end of last year. Taipower’s decision came about one month after Minister of Economic Affairs Kung Ming-hsin (龔明鑫) on March 10 said that the nation had no imminent
Some robotaxi passengers were left stranded in the middle of fast-moving traffic in a major Chinese city after their driverless vehicles stopped running, according to police and media reports on Wednesday. A preliminary investigation indicates more than 100 robotaxis came to a halt because of a “system malfunction,” police in the city of Wuhan said in a statement, without elaborating. No injuries were reported. One passenger told Chinese media that their robotaxi stopped after turning a corner. An instruction on a screen read: “Driving system malfunction. Staff are expected to arrive in 5 minutes.” After no one showed up, the passenger pushed
RSS