信驊科技 ASPEED Technology 2025年法人說明會
Company Overview
- 成立 (Founded): 2004年
- Business Model: 無晶圓廠 IC 設計公司 (Fabless IC Design Company)
- 員工人數 (Employee Count): 148 (2025年9月初資料 - as of early September 2025)
- 營運地點 (Operating Locations):
- 總部 (Headquarters): 台灣新竹市 (Hsinchu City, Taiwan)
- 分公司 (Branch Office): 台灣台北市 (Taipei City, Taiwan)
- 美國辦公室 (US Office): San Jose, CA
Financial Highlights
Safe Harbor Notice:
ASPEED's statements of its current expectations are forward-looking statements subject to significant risks and uncertainties and actual results may differ materially from those contained in the forward-looking statements. Except as required by law, we undertake no obligation to update any forward-looking statement, whether as a result of new information, future events, or otherwise. Please note that while we have made every effort to list all significant risks, there may still be other risk factors that have not been identified or currently appear to be insignificant.
投資安全聲明:
信驊科技所提供之資訊(除歷史資訊外)屬預測性陳述,受到各種風險及不確定性因素影響,可能造成實際結果與陳述內容發生顯著不符,這些不確定性因素包括: 受到競爭性產品及定價之影響、設計是否及時被客戶接受、新技術是否及時導入利用、新產品大量量產之能力、產業及市場對產品之供給及需求移轉、產業及市場是否供給過剩、製造產能可得利用情況、終端市場之財務穩定性、人才留任困難之可能性、無法預期之成本和費用、任何併購相關之不確定性,如主管機關核准之取得或整合延遲、重要客戶之流失、法律或行政訴訟之涉及、可能會影響營運之新法規、外匯匯率之波動、全球經濟因素或非經濟因素之影響及其他風險因素等。請注意,儘管我們已盡力羅列各項重要風險,但仍可能存在尚未識別或當前看似不顯著的其他風險因素。
Recent Performance and Results
損益表 (Income Statement)
| In NT$ thousands | 3Q25 | 2Q25 | 3Q24 | QoQ (3Q25 over 2Q25) | YoY (3Q25 over 3Q24) |
|---|
| Operating Revenue | 2,330,084 | 2,246,547 | 1,986,435 | 3.72% | 17.30% |
| Gross Profit | 1,613,721 | 1,524,869 | 1,276,807 | 5.83% | 26.39% |
| Gross Margin (%) | 69.26% | 67.88% | 64.28% | +1.38ppts | +4.98ppts |
| Operating Expenses | 382,254 | 340,785 | 325,351 | 12.17% | 17.49% |
| Operating Profit | 1,231,467 | 1,184,084 | 951,456 | 4.00% | 29.43% |
| Operating Margin (%) | 52.85% | 52.71% | 47.90% | +0.14ppts | +4.95ppts |
| Non-Operating Income and Expenses | 274,859 | (397,317) | (39,933) | -169.18% | -788.30% |
| Pre-Tax Profit | 1,506,326 | 786,767 | 911,523 | 91.46% | 65.25% |
| Net Income | 1,214,205 | 629,097 | 729,320 | 93.01% | 66.48% |
| Net Profit Margin (%) | 52.11% | 28.00% | 36.72% | +24.11ppts | +15.39ppts |
| EPS (Basic) | 32.12 | 16.65 | 19.30 | 92.91% | 66.42% |
合併營業收入 (Consolidated Operating Revenue) (Unit: NTD 1,000)
| Metric | 3Q24 | 4Q24 | 1Q25 | 2Q25 | 3Q25 | QoQ | YoY |
|---|
| Revenue | 1,986,435 | 2,103,713 | 2,065,118 | 2,246,547 | 2,330,084 | 3.72% | 17.30% |
| Gross Margin | 64.28% | 65.45% | 66.23% | 67.88% | 69.26% | +1.38ppts | +4.98ppts |
營業利益 (Operating Profit) (Unit: NTD 1,000)
| Metric | 3Q24 | 4Q24 | 1Q25 | 2Q25 | 3Q25 | QoQ | YoY |
|---|
| Operating Profit | 951,456 | 1,000,352 | 1,027,063 | 1,184,084 | 1,231,467 | 4.00% | 29.43% |
| Operating Margin (%) | 47.90% | 47.55% | 49.73% | 52.71% | 52.85% | +0.14ppts | +4.95ppts |
營業費用 (Operating Expenses) (Unit: NTD 1,000)
| Metric | 3Q24 | 4Q24 | 1Q25 | 2Q25 | 3Q25 | QoQ | YoY |
|---|
| R&D | 205,974 | 267,482 | 244,021 | 223,223 | 15,953 | -92.85% | -92.25% |
| Admin | 81,735 | 76,073 | 72,548 | 85,170 | 77,395 | -9.13% | -5.31% |
| Sales | 37,642 | 32,946 | 24,131 | 32,392 | 288,906 | 791.91% | 667.51% |
| Operating Expenses | 325,351 | 376,501 | 340,700 | 340,785 | 382,254 | 12.17% | 17.49% |
本期淨利 (Net Income) (Unit: NTD 1,000)
| Metric | 3Q24 | 4Q24 | 1Q25 | 2Q25 | 3Q25 | QoQ | YoY |
|---|
| Net Income | 729,320 | 942,842 | 886,770 | 629,097 | 1,214,205 | 93.01% | 66.48% |
| Net Profit Margin (%) | 36.72% | 44.82% | 42.94% | 28.00% | 52.11% | +24.11ppts | +15.39ppts |
有效稅率 (Effective Tax Rate) (Unit: NTD 1,000)
| Metric | 3Q24 | 4Q24 | 1Q25 | 2Q25 | 3Q25 | QoQ | YoY |
|---|
| Tax | 182,203 | 211,125 | 218,330 | 157,670 | 292,121 | 85.27% | 60.33% |
| Effective Tax Rate (%) | 19.99% | 18.30% | 19.76% | 20.04% | 19.39% | -0.65ppts | -0.60ppts |
每股盈餘 (EPS) (Unit: NTD)
| Quarterly | 3Q24 | 4Q24 | 1Q25 | 2Q25 | 3Q25 | QoQ | YoY |
|---|
| EPS | 19.30 | 24.95 | 23.46 | 16.65 | 32.12 | 92.91% | 66.42% |
Products & Technologies
產品組合 (Product Portfolio)
- 企業及雲端業務 (Cloud & Enterprise):
- BMC (Baseboard Management Controller): AST2500, AST2600, AST2700, AST2750
- BIC (Baseboard Management Controller Interface Controller): AST1030
- PFR (Platform Firmware Resilience): AST1060
- I/O Expander: AST1700, AST1800
- 智慧 AV (Smart AV):
- AV Matrix: AST1520, AST1530
- AV Extender: AST1620, AST1630
- Cupola360: AST1220, AST1230
- #1 in AV over IP (1G Ethernet)
- #1 in Commercial 360 camera
產品規劃路線圖 (Product Roadmap)
| Product Line | Product Model | 2023 Phase | 2024 Phase | 2025 Phase | 2026 Phase | 2027 Phase |
|---|
| BMC | AST2600 | Ramp-up | | | | |
| AST2700 | | Design-in Phase | | Production-ready | Ramp-up |
| BIC | AST1030 | Ramp-up | | | | |
| PFR | AST1060 | Production-ready | | Ramp-up | | |
| I/O Expander | AST1700 | | Design-in Phase | | Production-ready | Ramp-up |
| AST1800 | | | | | Design-in Phase |
| AVoIP | AST1530 & AST1535 Dual Chips | Ramp-up | | | | |
| AST1630 | Ramp-up | | | | |
| AST1532 | | Ramp-up | | | |
| AST1540 | | | | | Production-ready |
| Cupola360 | AST1235 | Ramp-up | | | | |
Strategic Initiatives and Plans
邁向多元應用 (Moving towards Diverse Applications)
雲端與企業級 SoC 透過全方位解決方案驅動創新 (Cloud and Enterprise SoC driving innovation through comprehensive solutions).
Key Concepts & Applications:
- AI VFF
- Cooling Management
- Edge (AI/Networking)
- Compute Node
- Smart NIC
- Internet
- Power Shelf
- Switch
Products & Partner Integrations:
- AST2700 VFF (Vertical Form Factor) - ASPEED
- BMC Module - Accton (ASPEED Model: AST2600)
- AST2600 DC-SCM - Accton (ASPEED Model: AST2600/AST1060)
- DNI-SCM - DELTA (ASPEED Model: AST2600/AST1060)
- SideCar, CDU (Cooling Distribution Unit) - AVC (ASPEED Model: AST2600)
- Lanner IAC-AST2602A (ASPEED model: AST2600/AST1060)
- ADVANTECH ASMB-561 MicroATX Server Board (ASPEED Model: AST2600)
- PMC (Power Management Controller) - LITEON (ASPEED Model: AST2620)
- PMC (Power Management Controller) - MEGMEET (ASPEED Model: AST2620)
- MSI MGT1 - msi (ASPEED Model: AST2600/AST1060)
- SENAO SX904 (ASPEED Model: AST2600/AST1060)