1、First Quarter 2025 Earnings Release 30 April,2025 ASE Technology Holding Safe Harbor Notice This presentation contains forward-looking statements within the meaning of Section 27A of the United States Securities Act of 1933,as amended,and Section 21E of the United States Securities Exchange Act of 1

2、934,as amended.These statements are made under the“safe harbor”provisions of the U.S.Private Securities Litigation Reform Act of 1995.Although these forward-looking statements,which may include statements regarding our future results of operations,financial condition or business prospects,are based

3、on our own information and information from other sources we believe to be reliable,you should not place undue reliance on these forward-looking statements,which apply only as of the date of this presentation.The words“anticipate,”“believe,”“estimate,”“expect,”“intend,”“plan”and similar expressions,

4、as they relate to us,are intended to identify these forward-looking statements in this presentation.These forward-looking statements are necessarily estimates reflecting the best judgment of our senior management and our actual results of operations,financial condition or business prospects may diff

5、er materially from those expressed or implied by the forward-looking statements for reasons including,among others,risks associated with cyclicality and market conditions in the semiconductor or electronic industry;changes in our regulatory environment,including our ability to comply with new or str

6、icter environmental regulations and to resolve environmental liabilities;demand for the outsourced semiconductor packaging,testing and electronic manufacturing services we offer and for such outsourced services generally;the highly competitive semiconductor or manufacturing industry we are involved

7、in;our ability to introduce new technologies in order to remain competitive;international business activities;our business strategy;our future expansion plans and capital expenditures;the strained relationship between the Republic of China and the Peoples Republic of China;general economic and polit

8、ical conditions;the recent shift in United States trade policies;possible disruptions in commercial activities caused by natural or human-induced disasters;fluctuations in foreign currency exchange rates;and other factors.For a discussion of these risks and other factors,please see the documents we

9、file from time to time with the Securities and Exchange Commission,including the 2024 Annual Report on Form 20-F filed on March 27,2025.2 Consolidated Statements of Income Quarterly Comparison(Unaudited)3(NT$million)Q1/2025%Q4/2024%Q1/20241%QoQYoYNet Revenues:ATM85,60657.8%87,20853.7%72,86254.9%-2%1

10、7%EMS61,86041.7%74,24345.8%59,32644.7%-17%4%Others6870.5%8130.5%6150.4%-15%12%Total Net Revenues148,153100.0%162,264100.0%132,803100.0%-9%12%Gross Profit24,89316.8%26,63116.4%20,82115.7%-7%20%Operating Income(Loss)9,6716.5%11,2116.9%7,4775.6%-14%29%Pretax Income(Loss)9,8106.6%11,4417.1%7,8125.9%-14%

11、26%Income Tax Benefit(Expense)(2,022)-1.4%(1,862)-1.1%(1,893)-1.4%Non-controlling Interests(234)-0.2%(267)-0.2%(259)-0.2%Net Income Attributable toShareholders of the Parent7,5545.1%9,3125.7%5,6604.3%-19%33%Basic EPS(NT$)1.75 2.15 1.31 -19%34%Diluted EPS(NT$)1.642.071.27-21%29%Additional Commentary

12、From Management1:Gross Profit excl.PPA expenses25,45017.2%27,27416.8%21,77516.4%-7%17%Operating Income excl.PPA expenses10,4917.1%12,1177.5%8,6946.5%-13%21%Net income attributable toshareholders of the parent excl.PPAexpenses8,3525.6%10,1876.3%6,8345.1%-18%22%Basic EPS(NT$)excl.PPA expenses1.932.361

13、.58-18%22%1:We exclude certain expenses recorded in connection with business combinations,which include retrospective adjustments recorded in 1Q24 following the completion of the purchase price allocation(“PPA”)calculation in relation to Hirschmann acquisition as of September 30,2024.Please refer to

14、 Appendix 1 for details.Consolidated Operations(Unaudited)4 72,862 76,676 84,545 87,208 85,606 59,326 62,853 74,871 74,243 61,860 15.7%16.4%16.5%16.4%16.8%5.6%6.4%7.2%6.9%6.5%0%10%20%30%030,00060,00090,000120,000150,000180,000Q1/24Q2/24Q3/24Q4/24Q1/25NT$million ATM RevenueEMS RevenueOther RevenueGro

15、ss MarginOperating Margin1 1 1:We completed the purchase price allocation calculation in relation to Hirschmann acquisition as of September 30,2024,and have retrospectively adjusted the consolidated financial results for the prior periods.1 ATM Statements of Income Quarterly Comparison(Unaudited)5(N

16、T$million)Q1/2025%Q4/2024%Q1/2024%QoQYoYNet Revenues:Packaging69,36080.0%71,34280.7%60,38881.7%-3%15%Testing16,00418.5%15,71317.8%12,10216.4%2%32%Direct Material1,2191.4%1,2331.4%1,3381.8%-1%-9%Others850.1%750.1%800.1%13%6%Total Net Revenues86,668100.0%88,363100.0%73,908100.0%-2%17%Gross Profit19,61

17、122.6%20,60923.3%15,55721.0%-5%26%Operating Income(Loss)8,3359.6%9,43510.7%6,0778.2%-12%37%Additional Commentary From Management1:Gross Profit excl.PPA expenses20,13723.2%21,21324.0%16,43322.2%-5%23%Operating Income excl.PPA expenses9,11110.5%10,28911.6%7,2039.7%-11%26%1:We exclude certain expenses

18、recorded in connection with business combinations.Please refer to Appendix 1 for details.ATM Operations(Unaudited)6 15,557 17,201 19,795 20,609 19,611 73,908 77,813 85,790 88,363 86,668 21.0%22.1%23.1%23.3%22.6%0%10%20%30%40%020,00040,00060,00080,000100,000Q1/24Q2/24Q3/24Q4/24Q1/25NT$million Gross P

19、rofitGross MarginRevenue ATM Revenues by Application(Unaudited)7 52%49%50%53%48%18%19%18%17%22%30%32%32%30%30%0%20%40%60%80%100%Q1/24Q2/24Q3/24Q4/24Q1/25CommunicationComputingAutomotive,Consumer&OthersATM Revenues by Type(Unaudited)8 43%44%45%47%46%30%31%29%27%28%9%7%8%7%6%16%16%16%18%18%2%2%2%1%2%0

20、%20%40%60%80%100%Q1/24Q2/24Q3/24Q4/24Q1/25MaterialTestingOthersWirebondingBump/FC/WLP/SiPEMS Operations Quarterly Comparison&Revenues by Application(unaudited)(NT$million)Q1/2025%Q4/2024%Q1/20241%QoQYoYEMS Net Revenues62,295100.0%74,895100.0%59,365100.0%-17%5%Gross Profit5,5288.9%6,1828.3%5,4529.2%-

21、11%1%Operating Income(Loss)1,6082.6%1,9862.7%1,6092.7%-19%0%9 34%33%34%37%33%12%11%9%9%11%27%29%36%33%31%12%13%11%11%13%12%11%9%8%10%3%3%1%2%2%0%20%40%60%80%100%Q1/24Q2/24Q3/24Q4/24Q1/25CommunicationComputingConsumerIndustrialAutomotiveOthers1:We completed the purchase price allocation calculation i

22、n relation to Hirschmann acquisition as of September 30,2024,and have retrospectively adjusted the consolidated financial results for the prior periods.Key Balance Sheet Items&Indices(Unaudited)10(NT$million)Mar.31,2025Dec.31,2024 Cash and cash equivalent$77,100$76,493 Financial assets-current16,435

23、9,376 Financial assets-non current&investments-equity method41,42841,810 Property,plant&equipment342,056312,531Total assets774,177740,698 Short-term loans&short-term bills payable55,48547,445 Current portion of bonds payable14,99914,998 Current portion of long-term loans5,7753,885 Bonds payable21,06

24、617,978 Long-term loans126,708121,750 Total interest bearing debts231,637213,868Total liabilities439,154394,911Total equity(Including non-controlling interest)335,023345,787Quarterly EBITDA*27,62828,797Current ratio1.041.19Net debt to equity ratio0.41 0.37 *:EBITDA stands for net income or loss befo

25、re interest,taxes,depreciation,amortization,impairment and investment gain or loss as well as other items.Equipment Capital Expenditures vs.EBITDA(Unaudited)11 228 406 603 640 892 765 811 888 895 843 02004006008001,000Q1/24Q2/24Q3/24Q4/24Q1/25US$million CapexEBITDA1:We completed the purchase price a

26、llocation calculation in relation to Hirschmann acquisition as of September 30,2024,and have retrospectively adjusted the consolidated financial results for the prior periods.1 1 1 Second Quarter 2025 Outlook Based on our current business outlook and exchange rate assumptions,management projects ove

27、rall performance for the second quarter of 2025 to be as follows:In NT dollar terms,our ATM 2nd quarter 2025 revenues should grow by 9 to 11 percent quarter over quarter;Our ATM 2nd quarter gross margin should increase by 140-180 basis points quarter over quarter;In NT dollar terms,our EMS 2nd quart

28、er 2025 revenues should decline by 10 percent year over year;Our EMS 2nd quarter 2025 operating margin should decline by 100 basis points year over year.12 Thank you Appendix 1 Consolidated Statements of Comprehensive Income(Unaudited)14(NT$thousand)Q1/20242,3&4Q2/20242,3&4Q3/20242,3&4Q4/20243&4FY/2

29、0242,3&4Q1/20253&4Revenues132,802,855140,238,063160,105,107162,263,560595,409,585148,153,262 COGS111,981,689117,183,829133,679,394135,632,929498,477,841123,260,526 PPA under COGS954,137958,574934,749643,5183,490,978557,027Gross profit20,821,16623,054,23426,425,71326,630,63196,931,74424,892,736Gross

30、profit excl.PPA21,775,30324,012,80827,360,46227,274,149100,422,72225,449,763 OPEX13,343,69314,045,89414,955,68215,420,09057,765,35915,221,435 PPA under OPEX262,917263,176263,418262,9801,052,491262,652Operating income7,477,4739,008,34011,470,03111,210,54139,166,3859,671,301Operating income excl.PPA8,

31、694,52710,230,09012,668,19812,117,03943,709,85410,490,980 Non Op gain/(loss)334,8681,096,772854,753230,7092,517,102138,628 PPA under Non Op gain/(loss)1,0273,67085911,98617,54261 Non Op gain/(loss)excl.PPA335,8951,100,442855,612242,6952,534,644138,689Pretax income7,812,34010,105,11212,324,78411,441,

32、25041,683,4869,809,929 PPA under Pretax income1,218,0811,225,4201,199,026918,4844,561,011819,740Pretax income excl.PPA9,030,42111,330,53213,523,81012,359,73446,244,49710,629,669 Tax expenses1,893,1991,950,1372,052,3711,862,1387,757,8452,021,624 PPA under Tax expense(21,989)(12,940)(13,849)(32,703)(8

33、1,481)(12,964)Tax expense excl.PPA1,915,1881,963,0772,066,2201,894,8417,839,3262,034,588 Non-controlling interests258,783377,466539,872267,0421,443,163234,472 PPA under Non-controlling interests22,27812,03611,33910,93356,5868,408 Non-controlling interests excl.PPA281,061389,502551,211277,9751,499,74

34、9242,880Net income attributable to shareholders ofthe parent5,660,3587,777,5099,732,5419,312,07032,482,4787,553,833 PPA expenses under Net incomeattributable to shareholders of the parent1,173,8141,200,4441,173,838874,8484,422,944798,368Net income attributable to shareholders ofthe parent excl.PPA6,

35、834,1728,977,95310,906,37910,186,91836,905,4228,352,201 Total PPA expenses1,196,0921,212,4801,185,177885,7814,479,530806,776Basic EPS(NT$)1.311.802.252.157.521.75Basic EPS(NT$)excl.PPA1.582.082.522.368.541.93Diluted EPS(NT$)1.271.752.182.077.231.64Diluted EPS(NT$)excl.PPA1.542.032.452.278.231.822:We

36、 completed the purchase price allocation calculation in relation to Hirschmann acquisition as of September 30,2024,and have retrospectively adjusted the consolidated financial results for the prior periods.3:PPA expenses are the P&L impacts from the accounting treatment of purchase price allocation

37、in relation to the ASE/SPIL and ASE/Infineon transaction,which resulted in increased asset values from purchase price premiums in inventory,PP&E,intangibles,right-of-use assets,other assets,and deferred tax liability.The PPA expenses excluded are related to depreciation,amortization,other expenses,a

38、nd income tax benefit$1.13bn in 1Q24,$1.17bn in 2Q24,1.14bn in 3Q24,0.85bn in 4Q24,$4.29bn in 2024,and 0.77bn in 1Q25.4:PPA expenses are the P&L impacts from the accounting treatment of purchase price allocation in relation to the USI/Asteelflash and USI/Hirschmann transaction,which resulted in incr

39、eased asset and liability values from purchase price premiums in inventory,PP&E,intangibles,right-of-use assets and deferred tax liability.The PPA expenses excluded are related to depreciation,amortization,other expenses and income tax benefit$0.07bn in 1Q24,$0.04bn in 2Q24,3Q24,4Q24,and 1Q25,and 0.19bn in 2024.