Business Context and Reporting Period
Company: ASE Technology Holding Co., Ltd. (ASEH)
Filing Type: Form 6-K (Report of Foreign Private Issuer)
Date: January 10, 2022
Reporting Period: Unaudited consolidated net revenues for December 2021, the fourth quarter (Q4) of 2021, and the full fiscal year (FY) 2021.
Business Overview: The company provides outsourced semiconductor packaging, testing, and electronic manufacturing services, including ATM (Assembly, Testing, and Material) business segments.
Key Financial Metrics
The filing provides unaudited net revenue figures in both New Taiwan Dollars (NT$) and US Dollars (US$). Profit, cash flow, margins, debt, and liquidity metrics are not disclosed in this specific filing.
Consolidated Net Revenues
| Period | Currency | Current Period | Prior Period | YoY Change |
|---|---|---|---|---|
| December 2021 | NT$ Million | 59,665 | 50,298 (Dec 2020) | +18.6% |
| December 2021 | US$ Million | 2,152 | 1,763 (Dec 2020) | +22.1% |
| Q4 2021 | NT$ Million | 172,936 | 148,877 (Q4 2020) | +16.2% |
| Q4 2021 | US$ Million | 6,226 | 5,174 (Q4 2020) | +20.3% |
| FY 2021 | NT$ Million | 569,997 | 476,979 (FY 2020) | +19.5% |
| FY 2021 | US$ Million | 20,399 | 16,194 (FY 2020) | +26.0% |
ATM Business Net Revenues
| Period | Currency | Current Period | Prior Period | YoY Change |
|---|---|---|---|---|
| December 2021 | NT$ Million | 31,011 | 25,391 (Dec 2020) | +22.1% |
| Q4 2021 | NT$ Million | 91,958 | 72,752 (Q4 2020) | +26.4% |
| FY 2021 | NT$ Million | 334,805 | 280,297 (FY 2020) | +19.4% |
Material Changes vs. Prior Period
- December 2021: Consolidated net revenues decreased sequentially by 1.4% (NT$) and 1.2% (US$) compared to November 2021, but increased significantly year-over-year.
- Q4 2021: Consolidated net revenues increased sequentially by 14.8% compared to Q3 2021 and grew 16.2% year-over-year.
- FY 2021: Full-year revenues grew 19.5% year-over-year in NT$ terms and 26.0% in US$ terms, reflecting strong demand across the semiconductor industry.
- ATM Segment: The ATM business showed consistent growth, with Q4 2021 revenues up 26.4% year-over-year.
Guidance, Outlook, and Risks
Guidance: The filing does not provide specific numerical guidance or forecasts for future periods.
Management Commentary: The release notes that forward-looking statements are based on management's best judgment but warns against undue reliance due to potential material differences in actual results.
Risks and Contingencies: The filing highlights several risk factors including:
- Cyclicality and market conditions in the semiconductor and electronic industries.
- Regulatory changes and environmental liabilities.
- Highly competitive industry dynamics and the need for new technology introductions.
- Geopolitical tensions, specifically the strained relationship between the Republic of China and the People's Republic of China.
- US trade policy shifts and foreign currency exchange rate fluctuations.
- Disruptions from natural or human-induced disasters.
Investor Verification Checklist
- Verify the impact of the sequential revenue decline in December 2021 on Q1 2022 expectations.
- Confirm the exchange rate assumptions used for US$ conversions, as the US$ growth rates differ from NT$ growth rates.
- Review the full 2020 Annual Report on Form 20-F for detailed risk factors and historical financial context.
- Monitor geopolitical developments regarding cross-strait relations and US trade policies affecting semiconductor supply chains.
- Check subsequent filings for profit margins and cash flow data, which are absent in this revenue-only report.