Earnings release
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1 Investor Relations Contact ir@aseglobal.com Tel: +886.2.6636.5678 https://www.aseglobal.com ASE Technology Holding Co., Ltd. Reports Its Unaudited Consolidated Financial Results for the Third Quarter of 2026 Taipei, October 29, 2026 – ASE Technology Holding Co., Ltd. (TWSE: 3711, NYSE: ASX) (“We”, “ASEH”, or the “Company”) , the leading provider of semiconductor assembly and test ing services (“ATM”) and the provider of electronic manufacturing services ( “EMS”), today reported its unaudited1 net revenues of NT$244,161 million for 3Q26, up by 44.8% year-over-year and up by 27.8% sequentially. Net income attributable to shareholders of the parent for the quarter totaled NT$26,996 million, up from NT$10,870 million in 3Q25 and up from NT$21,065 million in 2Q26. Basic earnings per share for the quarter were NT$6.13 (or US$0.384 per ADS), compared to NT$ 2.50 for 3Q25 and NT$4.80 for 2Q26. Diluted earnings per share for the quarter were NT$5.84 (or US$0.365 per ADS), compared to NT$2.41 for 3Q25 and NT$4.61 for 2Q26. RESULTS OF OPERATIONS 3Q26 Results Highlights – Consolidated ⚫ Net revenue s from packaging operations, testing operations, EMS operations , and others represented approximately 50%, 11%, 38%, and 1% of the total net revenues for the quarter, respectively. ⚫ Cost of revenues was NT$190,194 million for the quarter, up from NT$150,917 million in 2Q26. - Raw material cost totaled NT$116,793 million for the quarter, representing 48% of the total net revenues. - Labor cost totaled NT$ 23,777 million for the quarter, representing 10% of the total net revenues. - Depreciation, amortization and rental expenses totaled NT$20,664 million for the quarter. ⚫ Gross margin increased by 1.1 percentage points to 22.1% in 3Q26 from 21.0% in 2Q26. ⚫ Operating margin was 13.6% in 3Q26, compared to 11.1% in 2Q26. ⚫ Non-operating items: - Net interest expense was NT$2,611 million. - Net gain on foreign exchange hedging activities was NT$1,176 million. 1 All financial information presented in this press release is unaudited, consolidated and prepared in accordance with Taiwan -IFRS (International Financial Reporting Standards as endorsed for use in the R.O.C.). Such financial information is generated internally by us and has not been subjected to the same review and scrutiny, including internal auditing procedures and audit by our independent auditors, to which we su bject our year-end audited consolidated financial statements, and may vary materially from the year-end audited consolidated financial information for the same period. Any evaluation of the financial information presented in this press release should also take into account our published year-end audited consolidated financial statements and the notes to those statements. In addition, the financial information presented is not necessarily indicative of our results of operations for any future period.
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2 - Net gain on equity-method investments was NT$190 million. - Other net non -operating income was NT$813 million, primarily attributable to miscellaneous income. Total non-operating expenses for the quarter were NT$432 million. ⚫ Income before tax was NT$32,710 million in 3Q26, compared to NT$25,696 million in 2Q26. We recorded income tax expense of NT$4,831 million for the quarter, compared to NT$4,171 million in 2Q26. ⚫ Net income attributable to shareholders of th e parent was NT $26,996 million in 3Q26, compared to NT$10,870 million in 3Q25 and NT$21,065 million in 2Q26. ⚫ Our total number of shares outstanding at the end of the quarter was 4,488,092,493, including treasury stock owned by our subsidiaries in 3Q26. Our 3Q26 basic earnings per share of NT$6.13 (or US$ 0.384 per ADS) were based on 4,403,114,522 weighted average number of shares outstanding in 3Q26. Our 3Q26 diluted earnings per share of NT$ 5.84 (or US$0.365 per ADS) were based on 4,532,143,664 weighted average number of shares outstanding in 3Q26. 3Q26 Results Highlights – ATM ⚫ Net revenues were NT$151,485 million for the quarter, up by 51.0% year-over-year and up by 20.1% sequentially. ⚫ Cost of revenues was NT$105,073 million for the quarter, up by 35.4% year-over-year and up by 14.6% sequentially. - Raw material cost totaled NT$40,974 million for the quarter, representing 27% of the total net revenues. - Labor cost totaled NT$ 20,013 million for the quarter, representing 13% of the total net revenues. - Depreciation, amortization and rental expenses totaled NT$19,131 million for the quarter. ⚫ Gross margin increased by 3.3 percentage points to 30.6% in 3Q26 from 27.3% in 2Q26. ⚫ Operating margin was 20.0% in 3Q26, compared to 15.7% in 2Q26. 3Q26 Results Highlights – EMS ⚫ Net revenues were NT$93,469 million, up by 35.4% year-over-year and up by 42.1% sequentially. ⚫ Cost of revenues for the quarter was NT$85,676 million, up by 36.8% year-over-year and up by 43.0% sequentially. - Raw material cost totaled NT$76,221 million for the quarter, representing 82% of the total net revenues. - Labor cost totaled NT$ 3,698 million for the quarter, representing 4% of the total net revenues. - Depreciation, amortization and rental expenses totaled NT$1,289 million for the quarter. ⚫ Gross margin decreased by 0.6 percentage points to 8.3% in 3Q26 from 8.9% in 2Q26. ⚫ Operating margin was 3.3% in 3Q26, compared to 2.4% in 2Q26.
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3 LIQUIDITY AND CAPITAL RESOURCES ⚫ Equipment capital expenditures in 3Q26 totaled US$2,104 million, of which US$991 million was used in packaging operations, US$ 1,067 million in testing operations, US$ 41 million in EMS operations and US$5 million in interconnect materials operations and others. ⚫ Total unused credit lines amounted to NT$457,283 million as of September 30, 2026. ⚫ Current ratio was 1.16 and net debt to equity ratio was 0.66 as of September 30, 2026. ⚫ Total number of employees was 119,346 as of September 30, 2026, compared to 114,558 as of June 30, 2026. BUSINESS REVIEW Customers ATM BASIS ⚫ Our five largest customers together accounted for approximately 46% of our total net revenues in 3Q26, compared to 44% in 2Q26. One customer accounted for more than 10% of our total net revenues in 3Q26. ⚫ Our top 10 customers contributed 63% of our total net revenues in 3Q26, compared to 60% in 2Q26. ⚫ Our customers that are integrated device manufacturers or IDMs accounted for 46% of our total net revenues in 3Q26, compared to 41% in 2Q26. EMS BASIS ⚫ Our five largest customers together accounted for approximately 70% of our total net revenues in 3Q26, compared to 58% in 2Q26. Two customers each accounted for more than 10% of our total net revenues in 3Q26 individually. ⚫ Our top 10 customers contributed 78% of our total net revenues in 3Q26, compared to 69% in 2Q26. About ASE Technology Holding Co., Ltd. ASEH is the leading provider of semiconductor manufacturing services in assembly and test. The Company develops and offers complete turnkey solutions covering front-end engineering test, wafer probing and final test, as well as packaging, materials and electronic manufacturing services through USI with superior technologies, breakthrough innovations, and advanced development programs . With advanced technological capabilities and a global presence spanning Taiwan, China, South Korea, Japan, Singapore, Malaysia, the Philippines, Vietnam, Mexico, and Tunisia as well as the United States and Europe, ASEH has established a reputation for reliable, high quality products and services. For more information, please visit our website at https://www.aseglobal.com. Safe Harbor Notice This press release 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 1934, 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 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 press release. The words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “plan” and similar expressions, as they relate to us, are intended to identify these forward -looking statements in this press release. 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 differ materially from those expressed or implied by the forward-looking statements for reasons including, among others, risks associated with
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4 cyclicality and market conditions in the semiconductor or electronic industry; changes in our regulatory environment, including our ability to comply with new or stricter environmental regulations and to resolve environmental liabilities; demand for the ou tsourced 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 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 People’s Republic of China; general economic an d political 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 t hese risks and other factors, please see the documents we file from time to time with the Securities and Exchange Commission, including the 2025 Annual Report on Form 20-F filed on April 1, 2026.
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5 Supplemental Financial Information (Unaudited) Consolidated Operations 3Q26 2Q26 3Q25 EBITDA2 (NT$ million) 57,963 45,779 32,613 ATM Operations 3Q26 2Q26 3Q25 Net Revenues (NT$ million) 151,485 126,148 100,289 Revenues by Application Communication 38% 41% 45% Computing 34% 30% 25% Automotive, Consumer & Others 28% 29% 30% Revenues by Type Bumping, Flip Chip, WLP & SiP 51% 49% 48% Wirebonding 24% 24% 26% Others 6% 6% 6% Testing 17% 19% 18% Material 2% 2% 2% Capacity & EBITDA Equipment CapEx (US$ million) 2,063 1,646 736 EBITDA2 (NT$ million) 52,440 41,491 27,969 Number of Wirebonders 24,801 24,815 25,120 Number of Testers 8,831 8,348 7,066 EMS Operations 3Q26 2Q26 3Q25 Net Revenues (NT$ million) 93,469 65,789 69,022 Revenues by Application Communication 19% 22% 30% Computing 21% 16% 9% Consumer 41% 36% 40% Industrial 12% 16% 12% Automotive 6% 8% 7% Others 1% 2% 2% Capacity Equipment CapEx (US$ million) 41 49 40 2 EBITDA stands for net income or loss before interest, taxes, depreciation, amortization, impairment and investment gain or loss as well as other items.
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6 ASE Technology Holding Co., Ltd. Summary of Consolidated Statement of Income Data (In NT$ million, except per share data) (Unaudited) For the three months ended For the nine months ended Sep. 30 2026 Jun. 30 2026 (Retrospectively Adjusted) Sep. 30 2025 Sep. 30 2026 (Retrospectively Adjusted) Sep. 30 2025 Net revenues Packaging 122,173 99,387 79,806 310,541 221,877 Testing 26,302 23,665 18,420 71,008 51,037 EMS 92,997 65,411 68,405 219,769 188,638 Others 2,689 2,601 1,938 7,569 5,920 Total net revenues 244,161 191,064 168,569 608,887 467,472 Cost of revenues (190,194) (150,917) (139,692) (479,955) (388,015) Gross profit 53,967 40,147 28,877 128,932 79,457 Operating expenses Research and development (11,273) (10,229) (8,308) (30,712) (23,891) Selling, general and administrative (9,552) (8,788) (7,368) (26,455) (22,501) Total operating expenses (20,825) (19,017) (15,676) (57,167) (46,392) Operating income 33,142 21,130 13,201 71,765 33,065 Net non-operating income and expenses Interest expense - net (2,611) (1,853) (1,428) (6,040) (3,887) Foreign exchange gain (loss) - net (636) 738 (3,790) (2,123) 6,420 Gain (Loss) on valuation of financial assets and liabilities - net 1,812 2,899 5,191 7,775 (4,035) Gain on equity-method investments - net 190 2,298 294 3,216 557 Others - net 813 484 508 1,975 921 Total non-operating income and expenses (432) 4,566 775 4,803 (24) Income before tax 32,710 25,696 13,976 76,568 33,041 Income tax expense (4,831) (4,171) (2,615) (12,632) (6,213) Income from operations and before non- controlling interests 27,879 21,525 11,361 63,936 26,828 Non-controlling interests (883) (460) (491) (1,743) (883) Net income attributable to shareholders of the parent 26,996 21,065 10,870 62,193 25,945 Per share data: Earnings per share – Basic NT$6.13 NT$4.80 NT$2.50 NT$14.17 NT$5.99 – Diluted NT$5.84 NT$4.61 NT$2.41 NT$13.40 NT$5.73 Earnings per equivalent ADS – Basic US$0.384 US$0.304 US$0.168 US$0.895 US$0.383 – Diluted US$0.365 US$0.292 US$0.162 US$0.846 US$0.367 Number of weighted average shares used in diluted EPS calculation (in thousand shares) 4,532,144 4,505,703 4,419,121 4,510,216 4,414,605 FX (NTD/USD) 31.96 31.59 29.74 31.69 31.24
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7 ASE Technology Holding Co., Ltd. Summary of ATM Statement of Income Data (In NT$ million) (Unaudited) For the three months ended For the nine months ended Sep. 30 2026 Jun. 30 2026 (Retrospectively Adjusted) Sep. 30 2025 Sep. 30 2026 (Retrospectively Adjusted) Sep. 30 2025 Net revenues Packaging 122,945 100,324 80,602 312,942 224,402 Testing 26,302 23,665 18,420 71,008 51,037 Direct material 2,148 2,057 1,190 5,826 3,839 Others 90 102 77 291 244 Total net revenues 151,485 126,148 100,289 390,067 279,522 Cost of revenues (105,073) (91,661) (77,592) (279,970) (216,966) Gross profit 46,412 34,487 22,697 110,097 62,556 Operating expenses Research and development (9,375) (8,384) (6,695) (25,256) (19,058) Selling, general and administrative (6,794) (6,325) (5,140) (18,943) (15,484) Total operating expenses (16,169) (14,709) (11,835) (44,199) (34,542) Operating income 30,243 19,778 10,862 65,898 28,014
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8 ASE Technology Holding Co., Ltd. Summary of EMS Statement of Income Data (In NT$ million) (Unaudited) For the three months ended For the nine months ended Sep. 30 2026 Jun. 30 2026 Sep. 30 2025 Sep. 30 2026 Sep. 30 2025 Net revenues 93,469 65,789 69,022 221,132 190,088 Cost of revenues (85,676) (59,916) (62,643) (201,604) (172,632) Gross profit 7,793 5,873 6,379 19,528 17,456 Operating expenses Research and development (1,969) (1,887) (1,671) (5,606) (4,974) Selling, general and administrative (2,713) (2,417) (2,167) (7,375) (6,820) Total operating expenses (4,682) (4,304) (3,838) (12,981) (11,794) Operating income 3,111 1,569 2,541 6,547 5,662
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9 ASE Technology Holding Co., Ltd. Summary of Consolidated Balance Sheet Data (In NT$ million) (Unaudited) 3 Borrowings include bank loans and bills payable. As of Sep. 30, 2026 As of Jun. 30, 2026 (Retrospectively Adjusted) Current assets Cash and cash equivalents 88,421 91,292 Financial assets – current 19,517 16,081 Trade receivables 174,495 143,318 Inventories 99,721 86,268 Others 37,313 23,565 Total current assets 419,467 360,524 Financial assets - non-current & investments - equity -method 70,189 67,852 Property, plant and equipment 621,962 517,715 Right-of-use assets 16,480 14,427 Intangible assets 65,731 65,937 Others 50,956 44,988 Total assets 1,244,785 1,071,443 Current liabilities Short-term borrowings3 70,428 60,063 Long-term debts - current portion 5,141 11,787 Trade payables 126,991 99,513 Others 160,317 165,445 Total current liabilities 362,877 336,808 Bonds payable 42,201 14,985 Long-term borrowings3 276,633 209,603 Other liabilities 109,152 90,852 Total liabilities 790,863 652,248 Equity attributable to shareholders of the parent 422,834 389,203 Non-controlling interests 31,088 29,992 Total liabilities & shareholders’ equity 1,244,785 1,071,443 Current ratio 1.16 1.07 Net debt to equity ratio 0.66 0.47
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10 ASE Technology Holding Co., Ltd. Summary of Consolidated Statement of Cash Flow Data (In NT$ million) (Unaudited) For the three months ended For the nine months ended Sep. 30 2026 Jun. 30 2026 (Retrospectively Adjusted) Sep. 30 2025 Sep. 30 2026 (Retrospectively Adjusted) Sep. 30 2025 Cash Flows from Operating Activities Income before tax 32,710 25,696 13,976 76,568 33,041 Depreciation & amortization 22,258 20,003 16,992 60,929 49,614 Other operating activities items (4,506) 1,315 (16,342) (3,634) (11,211) Net cash generated from operating activities 50,462 47,014 14,626 133,863 71,444 Cash Flows from Investing Activities Net payments for property, plant and equipment (125,852) (79,849) (44,920) (249,792) (124,373) Other investment activities items (1,490) (3,240) (996) (6,383) (2,677) Net cash used in investing activities (127,342) (83,089) (45,916) (256,175) (127,050) Cash Flows from Financing Activities Net proceeds from borrowings and bonds 100,925 39,864 49,518 140,862 87,825 Dividends paid (28,958) - (23,034) (28,958) (23,034) Other financing activities items 1,067 (709) 1,234 1,122 835 Net cash generated from financing activities 73,034 39,155 27,718 113,026 65,626 Foreign currency exchange effect 975 401 5,929 5,238 (11,371) Net increase (decrease) in cash and cash equivalents (2,871) 3,481 2,357 (4,048) (1,351) Cash and cash equivalents at the beginning of period 91,292 87,811 72,785 92,469 76,493 Cash and cash equivalents at the end of period 88,421 91,292 75,142 88,421 75,142