Operating revenues grew to NT$50.91 billion. COGS remained flattish at NT$35.00 billion, as the 2.2% sequential decline in depreciation was offset the 2.6% increase in other manufacturing costs primarily due to higher wafer shipments in 2Q21. Gross profit increased 27.3% QoQ to NT$15.91 billion, reflecting the uptick in overall average selling price across 8” and 12” wafer shipments. Operating expenses increased 4.5% QoQ to NT$6.20 billion, as G&A grew 5.2% sequentially to NT$1.90 billion while R&D increased 3.9% QoQ to NT$3.17 billion, representing 6.2% of revenue. Sales & Marketing was up 3.8% QoQ to NT$1.13 billion. Net other operating income was NT$1.61 billion. In 2Q21, operating income expanded 48.4% QoQ to NT$11.31 billion.

Non-Operating Income and Expenses
(Amount: NT$ million)	2Q21	1Q21	2Q20
Non-Operating Income and Expenses	1,881	3,361	818
Net Interest Income and Expenses	(310)	(272)	(307)
Net Investment Gain and Loss	2,276	3,530	1,643
Exchange Gain and Loss	(84)	93	(411)
Other Gain and Loss	(1)	10	(107)

Net non-operating income in 2Q21 was NT$1.88 billion, mainly resulting from NT$2.28 billion in net investment gain, offset by a NT$310 million in net interest expense and a NT$84 million in exchange loss.

Cash Flow Summary
(Amount: NT$ million)	For the 3-Month Period Ended Jun. 30, 2021	For the 3-Month Period Ended Mar. 31, 2021
Cash Flow from Operating Activities	23,123	18,281
Net income before tax	13,194	10,983
Depreciation & Amortization	11,671	11,833
Share of profit of associates and joint ventures	(881)	(1,767)
Income tax paid	(300)	(51)
Changes in working capital & others	(561)	(2,717)
Cash Flow from Investing Activities	(18,482)	(7,120)
Acquisition of PP&E	(8,520)	(7,352)
Acquisition of intangible assets	(835)	(619)
Increase in other financial assets	(10,893)	(8)
Others	1,766	859
Cash Flow from Financing Activities	13,238	2,580
Bank loans	(1,384)	2,368
Bonds Issued	9,600	-
Redemption of bonds	(2,000)	-
Increase in deposits-in	7,205	382
Others	(183)	(170)
Effect of Exchange Rate	(1,164)	(504)
Net Cash Flow	16,715	13,237
Beginning balance	107,285	94,048
Ending balance	124,000	107,285

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