MagnaChip Semiconductor Corp 2024年度报告

(Mark One)☒ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the fiscal year endedDecember 31,2024or☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the transition period fromtoCommission File Number001-34791 Magnachip Semiconductor Corporation (Exact name of registrant as specified in its charter) Delaware(State or Other Jurisdiction ofIncorporation or Organization) c/o Magnachip Semiconductor, Ltd.15F, 76 Jikji-daero436beon-gil,Heungdeok-guCheongju-si,Chungcheongbuk-do,Republic of Korea28581(Address of principal executive offices) (Zip Code)Registrant’s telephone number, including area code: +82(2) 6903-3000Securities registered pursuant to Section12(b) of the Act: Accelerated Filer☒SmallerReportingCompany☒Emerginggrowthcompany☐If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial DOCUMENTS INCORPORATED BY REFERENCE Portions of the registrant’s definitive proxy statement relating to its 2025 annual meeting of stockholders will be incorporated by reference into PartIII of this Annual Report onForm10-Kor included by amendment to this report within 120days after the end of the fiscal year to which this report relates. Table of Contents MAGNACHIP SEMICONDUCTOR CORPORATION AND SUBSIDIARIESFORM10-KFOR THE YEAR ENDED DECEMBER31, 2024TABLE OF CONTENTS PagePARTIItem1.Business2Item1A.Risk Factors19Item1B.Unresolved Staff Comments38Item 1C.Cybersecurity38Item 2.Properties40Item 3.Legal Proceedings40Item 4.Mine Safety Disclosures40PARTIIItem 5.Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities41Item 6.[Reserved]42Item 7.Management’s Discussion and Analysis of Financial Condition and Results of Operations42Item7A.[Reserved]62Item 8.Financial Statements and Supplementary Data63Item 9.Changes in and Disagreements with Accountants on Accounting and Financial Disclosure104Item9A.Controls and Procedures104Item9B.Other Information105Item9C.Disclosure Regarding Foreign Jurisdictions that Prevent Inspections105PARTIIIItem10.Directors, Executive Officers and Corporate Governance106Item 11.Executive Compensation106Item 12.Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters106Item 13.Certain Relationships and Related Transactions, and Director Independence106Item 14.Principal Accounting Fees and Services106PARTIVItem15.Exhibits and Financial Statement Schedules107Item16.10-KSummary112SIGNATURES113 Table of Contents PART I INDUSTRY AND MARKET DATA We have made statements in this Annual Report on Form10-Kfor the year ended December31, 2024 (this “Report”) regarding our industry andour position in the industry based on our experience in the industry and our own views of market conditions, but we have not independently verifiedthose statements. We do not have any obligation to announce or otherwise make publicly available updates or revisions to forecasts contained in thesedocuments. Statements made in this Report, unless the context otherwise requires, include the use of the terms “us,” “we,” “our,” the “Company” and“Magnachip” to refer to Magnachip Semiconductor Corporation and its consolidated subsidiaries. The term “Korea” refers to the Republic of Korea orSouth Korea. On September1, 2020, we completed the sale of our Foundry Services Group business and our fabrication facility located in Cheongju,Korea to SK keyfoundry Inc. Unless otherwise noted herein, historical operational metrics presented herein do not include those of the Foundry ServicesGroup. SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS We have made certain “forward-looking” statements in this Report within the meaning of Section21E of the Securities Exchange Act of 1934, asamended (the “Exchange Act”), and Section27A of the Securities Act of 1933, as amended (the “Securities Act”), that involve risks and uncertainties.Forward-looking statements give our current expectations and projections relating to our financial condition, results of operations, plans, objectives,future performance and business. You can identify these statements by the fact that they do not relate strictly to historical or current facts. Thesestatements may include words such as “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “believe” and other words and terms of similarmeaning in connection with any discussion of the timing or nature of future operating or financial performance or other events. All statements other thanstatements of historical facts included in this Report that address activities, events or developments that we expect, believe or anticipate will or mayoccur in the future are forward-looking statements. These forward-looking statements are largely based on our expectations and beliefs concerning future events, which reflect estimates andassumpt