台积电- TSM.US -2026年第二季度业绩电话会

00:01:06 各位投资界及媒体的朋友们，大家午安，我是台积电法人关系处的苏志凯，欢迎您参加台基公司二零二六年第二季的法人说明会。由于本法说会是向全球投资人同时连线转播，所以我们会全程使用英文，请您见见谅。Good afternoon, everyone, and welcome to tsmtsecond quarter two thousand twenty six earnings conference. And conference call?This isjeff sue, tsmc's director of investor relations and your host for today. Today's event is beingwebcast live through tsmc'website at triple wtsmccom, where you can also download theearnings release materials. If you are joining us through the conference call, your dial inlines are in listen only mode. mode 00:02:01 The format for today'event will be as follows, first, tsmc's senior vice president and cfomister wendell huang will summarize our operations in the second quarter, two thousandand twenty six, followed by our guidance for the third quarter, two thousand and twentysix. Afterwards, mister huang and tsmc's chairman and ceo dr. Cc wei will join you providethe company's key messages. Then we will open both the floor and the the Line for thequestion and answer session. 00:02:33 As usual, I'd like to remind everybody that today's discussions may contain forward lookingstatements that are subject to significant risk and uncertainties, which could cause actualresults to differ maturity from those contained in the forward looking statements. Pleaserefer to the safe harbor notice that appears in our press release. 00:02:53 And now I would like to turn the microphone over to tsmccfo, mister wendell huang for thesummary of operations and the current quarter guidance. Thank you, jeff, good afternoon,everyone. Thank you for joining us today. My presentation will start with financialhighlights for the second quarter of twenty twenty six. After that, I will provide the guidancefor the third quarter of twenty twenty six. Now let'move on to revenue by technologytechnology Two nanometer process technology contributed three percent of wafer revenuein the second quarter. 00:03:30 Three nanometer, five nanometer and seven nanometer accounted for thirty percent, thirtythree percent and eleven percent respectively. Advanced technology, defined as sevennanometer and below, accounted for seventy seven percent of wafer revenue. 00:03:50 Moving on to revenue contribution by platform,hpc increased twenty percent,quarter overquarter to account for sixty six percent of our second quarter revenue,smartphonedecreased four percent to account for twenty two percent,iot increased four percent toaccount for five percent,automotive increased fifteen percent to account for fourpercent,dce increased five.Percent?To account for one percent. 00:04:24 Moving on to the balance sheet, we ended the second quarter with cash and marketablesecurities of three point five trillion nt, or hundred and ten billion us dollars, on the liabilityside. Current liabilities increased by one hundred and forty four billion nt quarter overquarter, mainly due to the increase of fifty eight billion in accounts payable and the increaseof forty forty eight billion In accrued liabilities in others. 00:04:57 In terms of financial ratios, accounts receivable days increase by three days to twenty ninedays, inventory days increase seven days to eighty seven days, primarily due to the ramp ofn two technology. 00:05:15 Regarding cash flow and kpex, during the second quarter, we generated about sevenhundred and eighty three billion nt in cash from operations, spent four hundred and ninetysix billion in kpex, and distributed one hundred and fifty six billion for third quarter twentytwenty five cash dividends. Overall, our cash balance increased ninety nine billion nt tothree point one trillion at the end of the quarter in u S. Terms. Our second quarter capitalexpenditures total fifteen point seven billion. 00:05:52 I finished my financial summary, now let me let'turn to the current quarter guidance basedon the current business outlook, we expect our third quarter revenue to be between fortyfour point six billion and forty five point eight billion us dollars, which represents a twelvepercent sequential increase or a thirty seven percent year over year increase at themidpoint. midpoint 00:06:21 Based on the exchange rate assumption of one us dollar to thirty two and t gross margin isexpected to be between sixty five and sixty seven percent, operating margin between fiftysix and fifty eight percent. This concludes by financial presentation. 00:06:47 Now let me turn to our key messages, I will start by talking about our second quartertwenty six and third quarter twenty six profitability compared to its first quarter, our second quarter gross margin increased by one hundred and fifty basis morning sequentiallyto sixty seven point seven percent, slightly ahead of our guidance, primarily due to costimprovement efforts and a slightly higher overall capacity utilization rate. Partially offset bydilution from our overseas fabs. 00:07:23 We have just guided our third quarter gross margin to decrease by one point sevenpercentage