UMC Reports First Quarter 2017 Results

² Revenue in this section represents wafer sales

³ Utilization Rate = Quarterly Wafer Out / Quarterly Capacity

⁴ Estimated capacity numbers are based on calculated maximum output rather than designed capacity. The actual capacity numbers may differ depending upon equipment delivery schedules, pace of migration to more advanced process technologies, and other factors affecting production ramp-up.

- FINANCIAL TABLES TO FOLLOW -

UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES
Consolidated Condensed Balance Sheet
As of March 31, 2017
Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$)


	March 31, 2017
	US$		NT$		%
Assets
Current assets
Cash and cash equivalents	2,006		60,812		16.0	%
Financial assets at fair value through profit or loss, current	29		867		0.2	%
Notes & Accounts receivable, net	689		20,878		5.5	%
Inventories, net	537		16,262		4.3	%
Other current assets	419		12,718		3.4	%
Total current assets	3,680		111,537		29.4	%

Non-current assets
Funds and investments	1,153		34,950		9.2	%
Property, plant and equipment	7,178		217,555		57.3	%
Other non-current assets	506		15,337		4.1	%
Total non-current assets	8,837		267,842		70.6	%
Total assets	12,517		379,379		100.0	%

Liabilities
Current liabilities
Short-term loans	622		18,842		5.0	%
Payables	875		26,525		7.0	%
Current portion of long-term liabilities	577		17,496		4.6	%
Other current liabilities	132		4,008		1.0	%
Total current liabilities	2,206		66,871		17.6	%

Non-current liabilities
Bonds payable	1,167		35,360		9.3	%
Long-term loans	889		26,952		7.1	%
Other non-current liabilities	1,106		33,515		8.9	%
Total non-current liabilities	3,162		95,827		25.3	%
Total liabilities	5,368		162,698		42.9	%

Equity
Equity attributable to the parent company
Capital	4,165		126,243		33.3	%
Additional paid-in capital	1,370		41,518		10.9	%
Retained earnings, unrealized gain or loss on available-for-sale financial assets and exchange differences on translation of foreign operations	1,739		52,692		13.9	%
Treasury stock	(156	)	(4,719	)	(1.2	%)
Total equity attributable to the parent company	7,118		215,734		56.9	%
Non-controlling interests	31		947		0.2	%
Total equity	7,149		216,681		57.1	%
Total liabilities and equity	12,517		379,379		100.0	%


Note：New Taiwan Dollars have been translated into U.S. Dollars at the March 31, 2017 exchange rate of NT $30.31 per U.S. Dollar.


UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES
Consolidated Condensed Statements of Comprehensive Income
Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$)
Except Per Share and Per ADS Data


	Year over Year Comparison										Quarter over Quarter Comparison
	Three-Month Period Ended										Three-Month Period Ended
	March 31, 2017				March 31, 2016				Chg.		March 31, 2017				December 31, 2016				Chg.
	US$		NT$		US$		NT$		%		US$		NT$		US$		NT$		%
Net operating revenues	1,235		37,418		1,135		34,404		8.8	%	1,235		37,418		1,264		38,306		(2.3	%)
Operating costs	(990	)	(29,990	)	(969	)	(29,370	)	2.1	%	(990	)	(29,990	)	(975	)	(29,547	)	1.5	%
Gross profit	245		7,428		166		5,034		47.6	%	245		7,428		289		8,759		(15.2	%)
	19.9	%	19.9	%	14.6	%	14.6	%			19.9	%	19.9	%	22.9	%	22.9	%
Operating expenses
- Sales and marketing expenses	(38	)	(1,170	)	(33	)	(1,010	)	15.8	%	(38	)	(1,170	)	(43	)	(1,282	)	(8.7	%)
- General and administrative expenses	(35	)	(1,050	)	(32	)	(970	)	8.2	%	(35	)	(1,050	)	(50	)	(1,521	)	(31.0	%)
- Research and development expenses	(132	)	(3,991	)	(102	)	(3,085	)	29.4	%	(132	)	(3,991	)	(126	)	(3,824	)	4.4	%
Subtotal	(205	)	(6,211	)	(167	)	(5,065	)	22.6	%	(205	)	(6,211	)	(219	)	(6,627	)	(6.3	%)
Net other operating income and expenses	5		154		0		15		926.7	%	5		154		5		144		6.9	%
Operating income (loss)	45		1,371		(1	)	(16	)	-		45		1,371		75		2,276		(39.8	%)
	3.7	%	3.7	%	(0.1	%)	(0.1	%)			3.7	%	3.7	%	5.9	%	5.9	%

Net non-operating income and expenses	(10	)	(304	)	2		46		-		(10	)	(304	)	(40	)	(1,210	)	(74.9	%)
Income from continuing operations before income tax	35		1,067		1		30		3,456.7	%	35		1,067		35		1,066		0.1	%
	2.9	%	2.9	%	0.1	%	0.1	%			2.9	%	2.9	%	2.8	%	2.8	%

Income tax benefit (expense)	14		430		2		49		777.6	%	14		430		(20	)	(617	)	-
Net income	49		1,497		3		79		1,794.9	%	49		1,497		15		449		233.4	%
	4.0	%	4.0	%	0.2	%	0.2	%			4.0	%	4.0	%	1.2	%	1.2	%

Other comprehensive income (loss)	(98	)	(2,997	)	(20	)	(583	)	414.1	%	(98	)	(2,997	)	(20	)	(591	)	407.1	%

Total comprehensive income (loss)	(49	)	(1,500	)	(17	)	(504	)	197.6	%	(49	)	(1,500	)	(5	)	(142	)	956.3	%

Net income attributable to:
Stockholders of the parent	75		2,286		7		210		988.6	%	75		2,286		84		2,548		(10.3	%)
Non-controlling interests	(26	)	(789	)	(4	)	(131	)	502.3	%	(26	)	(789	)	(69	)	(2,099	)	(62.4	%)

Comprehensive income (loss) attributable to:
Stockholders of the parent	(20	)	(599	)	(12	)	(356	)	68.3	%	(20	)	(599	)	63		1,902		-
Non-controlling interests	(29	)	(901	)	(5	)	(148	)	508.8	%	(29	)	(901	)	(68	)	(2,044	)	(55.9	%)

Earnings per share-basic	0.006		0.19		0.001		0.02				0.006		0.19		0.007		0.21
Earnings per ADS ⁽²⁾	0.031		0.95		0.003		0.10				0.031		0.95		0.035		1.05
Weighted average number of shares
outstanding (in millions)			12,208				12,408						12,208				12,208


Notes:
(1) New Taiwan Dollars have been translated into U.S. Dollars at the March 31, 2017 exchange rate of NT $30.31 per U.S. Dollar.
(2) 1 ADS equals 5 common shares.


UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES
Consolidated Condensed Statements of Comprehensive Income
Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$)
Except Per Share and Per ADS Data

	For the Three-Month Period Ended						For the Three-Month Period Ended
	March 31, 2017						March 31, 2017
	US$		NT$		%		US$		NT$		%
Net operating revenues	1,235		37,418		100.0	%	1,235		37,418		100.0	%
Operating costs	(990	)	(29,990	)	(80.1	%)	(990	)	(29,990	)	(80.1	%)
Gross profit	245		7,428		19.9	%	245		7,428		19.9	%


Operating expenses
- Sales and marketing expenses	(38	)	(1,170	)	(3.1	%)	(38	)	(1,170	)	(3.1	%)
- General and administrative expenses	(35	)	(1,050	)	(2.8	%)	(35	)	(1,050	)	(2.8	%)
- Research and development expenses	(132	)	(3,991	)	(10.7	%)	(132	)	(3,991	)	(10.7	%)
Subtotal	(205	)	(6,211	)	(16.6	%)	(205	)	(6,211	)	(16.6	%)
Net other operating income and expenses	5		154		0.4	%	5		154		0.4	%
Operating income	45		1,371		3.7	%	45		1,371		3.7	%

Net non-operating income and expenses	(10	)	(304	)	(0.8	%)	(10	)	(304	)	(0.8	%)
Income from continuing operations before income tax	35		1,067		2.9	%	35		1,067		2.9	%


Income tax benefit	14		430		1.1	%	14		430		1.1	%
Net income	49		1,497		4.0	%	49		1,497		4.0	%

Other comprehensive income (loss)	(98	)	(2,997	)	(8.0	%)	(98	)	(2,997	)	(8.0	%)

Total comprehensive income (loss)	(49	)	(1,500	)	(4.0	%)	(49	)	(1,500	)	(4.0	%)

Net income attributable to:
Stockholders of the parent	75		2,286		6.1	%	75		2,286		6.1	%
Non-controlling interests	(26	)	(789	)	(2.1	%)	(26	)	(789	)	(2.1	%)

Comprehensive income (loss) attributable to:
Stockholders of the parent	(20	)	(599	)	(1.6	%)	(20	)	(599	)	(1.6	%)
Non-controlling interests	(29	)	(901	)	(2.4	%)	(29	)	(901	)	(2.4	%)

Earnings per share-basic	0.006		0.19				0.006		0.19
Earnings per ADS ⁽²⁾	0.031		0.95				0.031		0.95

Weighted average number of shares outstanding (in millions)			12,208						12,208

Notes:
(1) New Taiwan Dollars have been translated into U.S. Dollars at the March 31, 2017 exchange rate of NT $30.31 per U.S. Dollar.
(2) 1 ADS equals 5 common shares.


UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES
Consolidated Condensed Statement of Cash Flows
For The Three-Month Period Ended March 31, 2017
Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$)

	US$		NT$
Cash flows from operating activities :
Net income before tax	35		1,067
Depreciation & Amortization	439		13,292
Changes in notes & accounts receivable	63		1,895
Changes in other current assets	(38	)	(1,149	)
Changes in payables	(43	)	(1,296	)
Changes in assets, liabilities and others	(17	)	(498	)
Net cash provided by operating activities	439		13,311

Cash flows from investing activities :
Acquisition of available-for-sale financial assets	(16	)	(481	)
Proceeds from disposal of available-for-sale financial assets	23		701
Proceeds from disposal of investments accounted for under the equity method	65		1,980
Acquisition of property, plant and equipment	(582	)	(17,654	)
Others	(28	)	(839	)
Net cash used in investing activities	(538	)	(16,293	)

Cash flows from financing activities :
Proceeds from bonds issued	274		8,300
Proceeds from long-term loans	74		2,258
Repayments of long-term loans	(29	)	(885	)
Acquisition of subsidiaries	(41	)	(1,228	)
Others	(19	)	(600	)
Net cash provided by financing activities	259		7,845

Effect of exchange rate changes on cash and cash equivalents	(54	)	(1,630	)
Net Increase in cash and cash equivalents	106		3,233

Cash and cash equivalents at beginning of period	1,900		57,579

Cash and cash equivalents at end of period	2,006		60,812


Note: New Taiwan Dollars have been translated into U.S. Dollars at the March 31, 2017 exchange rate of NT $30.31 per U.S. Dollar.

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