Fourth quarter operating revenues increased by 5.7% sequentially to NT$59.10 billion which was partly attributed to enhanced product mix and higher wafer shipments. Revenue contribution from 40nm and below technologies represented 38% of wafer revenue. Gross profit grew 12.5% QoQ to NT$23.10 billion, or 39.1% of revenue. Operating expenses was up 2.8% to NT$6.82 billion. Net other operating income reached NT$1.33 billion. Net non-operating income was NT$558 million. Net income attributable to shareholders of the parent amounted to NT$15.95 billion.

Earnings per ordinary share for the quarter was NT$1.30. Earnings per ADS was US$0.235. The basic weighted average number of outstanding shares in 4Q21 was 12,254,114,875, compared with 12,206,292,756 shares in 3Q21 and 12,206,292,756 shares in 4Q20. The diluted weighted average number of outstanding shares was 12,489,949,678 in 4Q21, compared with 12,411,100,649 shares in 3Q21 and 12,359,115,536 shares in 4Q20. The fully diluted shares counted on December 31, 2021 were approximately 12,519,315,000.

Detailed Financials Section

COGS & Expenses
(Amount: NT$ million)	4Q21		3Q21		QoQ % change	4Q20		YoY % change
Operating Revenues	59,100		55,907		5.7	45,296		30.5
COGS	(35,997	)	(35,363	)	1.8	(34,448	)	4.5
Depreciation	(10,122	)	(9,900	)	2.2	(10,436	)	(3.0	)
Other Mfg. Costs	(25,875	)	(25,463	)	1.6	(24,012	)	7.8
Gross Profit	23,103		20,544		12.5	10,848		113.0
Gross Margin (%)	39.1	%	36.8	%		23.9	%
Operating Expenses	(6,821	)	(6,636	)	2.8	(6,335	)	7.7
G&A	(2,164	)	(2,119	)	2.2	(1,966	)	10.0
Sales & Marketing	(1,240	)	(1,212	)	2.3	(1,175	)	5.5
R&D	(3,414	)	(3,303	)	3.4	(3,194	)	6.9
Expected Credit Impairment Gain (Loss)	(3	)	(2	)	37.8	0		-
Net Other Operating Income & Expenses	1,334		1,227		8.7	1,102		21.1
Operating Income	17,616		15,135		16.4	5,615		213.7

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