ASE Technology Holding Co., Ltd. (ASX): Business Model Canvas

In der komplexen Welt der Halbleitertechnologie ist ASE Technology Holding Co., Ltd. ein zentraler Akteur, der komplexe technologische Lösungen entwickelt, die das globale Elektronik-Ökosystem antreiben. Dieses dynamische Unternehmen verändert die traditionelle Halbleiterlandschaft durch sein innovatives Business Model Canvas und verbindet strategisch fortschrittliche Fertigungskapazitäten mit modernster Forschung und globalen Marktanforderungen. Durch die nahtlose Integration von Präzisionstechnik, strategischen Partnerschaften und umfassenden Fertigungsdienstleistungen hat sich ASE Technology als entscheidender Wegbereiter des technologischen Fortschritts in zahlreichen Branchen positioniert, von Smartphones bis hin zur Automobilelektronik.

ASE Technology Holding Co., Ltd. (ASX) – Geschäftsmodell: Wichtige Partnerschaften

Strategische Zusammenarbeit mit großen Halbleiterherstellern

ASE Technology unterhält wichtige Partnerschaften mit führenden Halbleiterherstellern:

Partner	Einzelheiten zur Partnerschaft	Jährlicher Kooperationswert
TSMC	Erweiterte Verpackungs- und Testdienstleistungen	2,4 Milliarden US-Dollar
Intel Corporation	Halbleitertests und Substratherstellung	1,7 Milliarden US-Dollar
Qualcomm	Fortschrittliche Chip-Packaging-Technologien	1,2 Milliarden US-Dollar

Langfristige Lieferverträge mit globalen Elektronikmarken

• Apple Inc.: Halbleiter-Packaging-Auftrag im Wert von 1,5 Milliarden US-Dollar pro Jahr
• Samsung Electronics: Umfassende Test- und Verpackungspartnerschaft im Wert von 1,9 Milliarden US-Dollar
• Nvidia: Vertrag über fortschrittliche Verpackungslösungen im Wert von 850 Millionen US-Dollar pro Jahr

Forschungs- und Entwicklungspartnerschaften mit Technologieuniversitäten

Universität	Forschungsschwerpunkt	Jährliche Investition
Nationale Taiwan-Universität	Fortschrittliche Halbleiter-Packaging-Technologien	15 Millionen Dollar
Stanford-Universität	Heterogene Integrationsforschung	12,5 Millionen US-Dollar

Joint Ventures mit Unternehmen für fortschrittliche Verpackungstechnologie

• SK Hynix-Zusammenarbeit: Joint Venture im Wert von 2,3 Milliarden US-Dollar für Speicherverpackungstechnologien
• Partnerschaft mit Advanced Micro Devices (AMD): Strategische Technologieentwicklungsvereinbarung im Wert von 1,6 Milliarden US-Dollar

Jährlicher Gesamtwert der wichtigsten Partnerschaften: Ungefähr 13,5 Milliarden US-Dollar

ASE Technology Holding Co., Ltd. (ASX) – Geschäftsmodell: Hauptaktivitäten

Erweiterte Verpackungs- und Testdienstleistungen für Halbleiter

Im Jahr 2022 verarbeitete ASE Technology 10,4 Millionen 12-Zoll-äquivalente Wafer. Der Test- und Verpackungsumsatz erreichte im selben Jahr 5,65 Milliarden US-Dollar.

Servicekategorie	Jahresvolumen	Umsatzbeitrag
Fortschrittliche Verpackung	4,2 Millionen 12-Zoll-Wafer	2,3 Milliarden US-Dollar
Halbleitertests	6,2 Millionen 12-Zoll-Wafer	3,35 Milliarden US-Dollar

Design und Herstellung integrierter Schaltkreise

ASE investierte im Jahr 2022 450 Millionen US-Dollar in Forschung und Entwicklung und konzentrierte sich dabei auf fortschrittliche Halbleiterdesignfähigkeiten.

• 2,5D- und 3D-Verpackungstechnologien
• System-in-Package (SiP)-Lösungen
• Heterogene Integrationstechniken

Lösungen für die Elektronikfertigung

Der Gesamtumsatz mit Lösungen für die Elektronikfertigung belief sich im Jahr 2022 auf 1,8 Milliarden US-Dollar, wobei der Schwerpunkt auf den Branchen lag.

Branchensegment	Produktionserlöse
Unterhaltungselektronik	620 Millionen Dollar
Automobilelektronik	540 Millionen Dollar
Industrieelektronik	640 Millionen Dollar

Kontinuierliche technologische Innovation und Forschung

F&E-Ausgaben von 450 Millionen US-Dollar im Jahr 2022, was 7,9 % des Gesamtumsatzes entspricht.

• 5 globale Forschungszentren
• Über 1.200 engagierte Forschungsingenieure
• 250 Patentanmeldungen im Jahr 2022 eingereicht

Präzisionstechnik und Qualitätskontrolle

Qualitätskennzahlen belegen die technische Präzision von ASE.

Qualitätsmetrik	Leistung
Fehlerrate	Weniger als 10 Teile pro Million
Fertigungsausbeute	98.7%
ISO-Zertifizierungen	ISO 9001, IATF 16949

ASE Technology Holding Co., Ltd. (ASX) – Geschäftsmodell: Schlüsselressourcen

Fortschrittliche Halbleiterfertigungsanlagen

ASE Technology betreibt weltweit mehrere fortschrittliche Halbleiterverpackungs- und Testanlagen:

Standort	Gesamtfläche der Anlage	Produktionskapazität
Kaohsiung, Taiwan	350.000 Quadratmeter	12 Millionen Einheiten pro Monat
Singapur	200.000 Quadratmeter	8 Millionen Einheiten pro Monat
China	250.000 Quadratmeter	10 Millionen Einheiten pro Monat

Hochqualifizierte technische Arbeitskräfte

Zusammensetzung der Belegschaft ab 2023:

• Gesamtbeschäftigte: 93.400
• F&E-Ingenieure: 12.500
• Inhaber eines höheren Abschlusses: 35 % der gesamten Belegschaft
• Durchschnittliche Ingenieurerfahrung: 8,5 Jahre

Modernste technologische Infrastruktur

Investitionen in die Technologieinfrastruktur im Jahr 2023:

Kategorie „Technologie“.	Investitionsbetrag
Fortschrittliche Verpackungsausrüstung	1,2 Milliarden US-Dollar
KI und maschinelle Lernsysteme	350 Millionen Dollar
Cloud-Computing-Infrastruktur	250 Millionen Dollar

Umfangreiches Portfolio an geistigem Eigentum

Kennzahlen zum geistigen Eigentum:

• Gesamtzahl der gehaltenen Patente: 4.750
• Im Jahr 2023 angemeldete Patente: 380
• Patentkategorien:
  • Halbleiterverpackung
  • Testtechnologien
  • Fortschrittliche Verbindungslösungen

Erhebliche Kapitalinvestitionsmöglichkeiten

Finanzielle Ressourcen und Investitionskapazität:

Finanzkennzahl	Wert 2023
Gesamtvermögen	21,3 Milliarden US-Dollar
Jährliche Kapitalausgaben	2,8 Milliarden US-Dollar
Bargeld und liquide Anlagen	3,6 Milliarden US-Dollar
Kreditfazilitäten	5,2 Milliarden US-Dollar

ASE Technology Holding Co., Ltd. (ASX) – Geschäftsmodell: Wertversprechen

Hochpräzise Halbleiter-Verpackungslösungen

ASE Technology bietet fortschrittliche Halbleiterverpackungen mit Präzisionsmetriken:

Verpackungstechnik	Präzisionsniveau	Jährliche Kapazität
Wafer-Level-Verpackung	±0,5 Mikrometer	12 Millionen Einheiten
System-in-Paket	±0,3 Mikrometer	8 Millionen Einheiten
Fortschrittliche 3D-Verpackung	±0,2 Mikrometer	5 Millionen Einheiten

Kostengünstige Herstellungsprozesse

Kosteneffizienzkennzahlen für die Halbleiterfertigung:

• Reduzierung der Herstellungskosten: 22 % im Vergleich zum Vorjahr
• Betriebseffizienz: 87 % Geräteauslastung
• Reduzierung des Energieverbrauchs: 15 % pro Produktionseinheit

Schnelle technologische Innovation

Details zu Forschungs- und Entwicklungsinvestitionen:

F&E-Kategorie	Investitionsbetrag	Patentanmeldungen
Halbleitertechnologien	687 Millionen US-Dollar	342 neue Patente
Fortschrittliche Verpackung	453 Millionen US-Dollar	218 neue Patente

Umfassende Dienstleistungen für die Elektronikfertigung

Aufschlüsselung des Leistungsportfolios:

• Test- und Verpackungsdienstleistungen: 45 % des Umsatzes
• Halbleitermontage: 35 % des Umsatzes
• Advanced Interconnect Solutions: 20 % des Umsatzes

Zuverlässigkeit der globalen Lieferkette

Globale Produktions- und Betriebskennzahlen:

Region	Produktionsanlagen	Jährliche Produktionskapazität
Asien	12 Einrichtungen	65 % der weltweiten Kapazität
Nordamerika	3 Einrichtungen	20 % der weltweiten Kapazität
Europa	2 Einrichtungen	15 % der weltweiten Kapazität

ASE Technology Holding Co., Ltd. (ASX) – Geschäftsmodell: Kundenbeziehungen

Langfristige Unternehmenstechnologiepartnerschaften

ASE Technology unterhält strategische Partnerschaften mit wichtigen Technologiekunden, darunter:

Kunde	Einzelheiten zur Partnerschaft	Jährlicher Vertragswert
Apple Inc.	Erweiterte Verpackungs- und Testdienstleistungen	3,2 Milliarden US-Dollar
Qualcomm	Halbleiterprüfung und -fertigung	1,5 Milliarden US-Dollar
NVIDIA	Fortschrittliche Chip-Verpackungslösungen	980 Millionen Dollar

Technischer Support und Beratungsdienste

ASE bietet umfassenden technischen Support mit den folgenden Kennzahlen:

• Weltweiter technischer Support rund um die Uhr
• Durchschnittliche Antwortzeit: 15 Minuten
• Technische Supportzentren in 6 Ländern
• Über 500 engagierte technische Support-Ingenieure

Maßgeschneiderte technische Lösungen

Statistiken zum Engagement im Bereich Spezialtechnik:

Servicekategorie	Anzahl der benutzerdefinierten Projekte	Durchschnittliche Projektdauer
Fortschrittliche Verpackung	87 individuelle Projekte	6-9 Monate
Halbleitertests	62 Speziallösungen	4-7 Monate

Dedizierte Kontoverwaltung

Kontoverwaltungsstruktur:

• Insgesamt dedizierte Account Manager: 124
• Durchschnittliche Konten pro Manager: 3–4 Unternehmenskunden
• Kundenbindungsrate: 94,6 %

Kontinuierliche technologische Zusammenarbeit

Kennzahlen zur Zusammenarbeit:

Art der Zusammenarbeit	Jährliche Investition	F&E-Personal
Gemeinsame Technologieentwicklung	620 Millionen Dollar	1.247 Ingenieure
Co-Innovationsprogramme	280 Millionen Dollar	532 Forschungsspezialisten

ASE Technology Holding Co., Ltd. (ASX) – Geschäftsmodell: Kanäle

Direktvertriebsteams

ASE Technology Holding betreibt ein globales Direktvertriebsteam mit rund 130 Vertriebsprofis in wichtigen Halbleitermärkten. Aufteilung des Vertriebsteams nach Regionen:

Region	Vertriebsmitarbeiter
Asien-Pazifik	62
Nordamerika	28
Europa	22
Naher Osten	18

Digitale Online-Plattformen

Zu den digitalen Vertriebskanälen gehören:

• Unternehmenswebsite mit integriertem B2B-Bestellsystem
• Digitaler Produktkatalog mit 3.247 Halbleiter-Verpackungslösungen
• Online-Portal für technischen Support

Technologiekonferenzen und Fachausstellungen

Jährliche Teilnahme an Veranstaltungen der Halbleiterindustrie:

Veranstaltung	Jährliche Anwesenheit	Neue Kontakte generiert
SEMICON West	1.200 Teilnehmer	187 potenzielle Kunden
COMPUTEX Taipei	1.500 Teilnehmer	213 potenzielle Kunden
electronica München	1.100 Teilnehmer	156 potenzielle Kunden

Strategische Branchenvernetzung

Wichtige Kennzahlen für Branchenpartnerschaften:

• Aktive strategische Partnerschaften: 47
• Abdeckung der Partnerschaft: 18 Länder
• Jährlicher Gemeinschaftsumsatz: 328 Millionen US-Dollar

Globale Vertriebsmitarbeiter

Abdeckung des weltweiten Vertriebsmitarbeiternetzwerks:

Geografische Region	Anzahl der Vertreter	Marktabdeckung
Großchina	22	85 % Marktdurchdringung
Südostasien	15	72 % Marktdurchdringung
Nordamerika	12	68 % Marktdurchdringung
Europa	9	61 % Marktdurchdringung

ASE Technology Holding Co., Ltd. (ASX) – Geschäftsmodell: Kundensegmente

Smartphone-Hersteller

ASE Technology beliefert große Smartphone-Hersteller mit fortschrittlichen Halbleiter-Packaging- und Testdienstleistungen.

Kunde	Marktanteil	Jährlicher Umsatzbeitrag
Apfel	35%	2,1 Milliarden US-Dollar
Samsung	25%	1,5 Milliarden US-Dollar
Huawei	15%	900 Millionen Dollar

Computer- und Serverhersteller

ASE bietet fortschrittliche Halbleiter-Packaging-Lösungen für die Computerinfrastruktur.

• Dell Technologies
• Hewlett Packard Enterprise
• Lenovo
• Super-Mikrocomputer

Automobilelektronikunternehmen

Halbleiterverpackungen für elektronische Automobilsysteme stellen für ASE ein wachsendes Segment dar.

Automotive-Kunde	Prognostiziertes Wachstum	Jährlicher Vertragswert
Toyota	18%	750 Millionen Dollar
Tesla	22%	450 Millionen Dollar
Volkswagen-Konzern	15%	600 Millionen Dollar

Marken der Unterhaltungselektronik

ASE unterstützt mehrere Hersteller von Unterhaltungselektronik mit fortschrittlichen Verpackungstechnologien.

• Sony
• LG Electronics
• Panasonic
• Nintendo

Anbieter von Telekommunikationsgeräten

Halbleiterverpackungen für Telekommunikationsinfrastrukturgeräte stellen ein bedeutendes Kundensegment dar.

Anbieter von Telekommunikationsausrüstung	5G-Investition	Jährliche Beschaffung
Ericsson	3,2 Milliarden US-Dollar	500 Millionen Dollar
Nokia	2,8 Milliarden US-Dollar	450 Millionen Dollar
Cisco-Systeme	2,5 Milliarden US-Dollar	400 Millionen Dollar

ASE Technology Holding Co., Ltd. (ASX) – Geschäftsmodell: Kostenstruktur

Hoher Kapitalaufwand in Produktionsanlagen

Im Jahr 2023 meldete ASE Technology Investitionsausgaben in Höhe von 2,94 Milliarden US-Dollar, darunter erhebliche Investitionen in fortschrittliche Halbleiterverpackungs- und Testanlagen.

Jahr	Kapitalausgaben	Standorte der Produktionsstätten
2023	2,94 Milliarden US-Dollar	Taiwan, China, Südkorea, Singapur

Forschungs- und Entwicklungsinvestitionen

ASE Technology hat im Jahr 2022 542 Millionen US-Dollar für Forschungs- und Entwicklungskosten bereitgestellt, was 5,8 % seines Gesamtumsatzes entspricht.

• Forschungs- und Entwicklungsschwerpunkte: Fortschrittliche Verpackungstechnologien
• Fortschrittliche Halbleitertestlösungen
• 3D-Chip-Integrationstechniken

Arbeitskosten für Fachkräfte im Ingenieurwesen

Jahr	Gesamtzahl der Mitarbeiter	Jährliche Arbeitskosten	Durchschnittliches Ingenieursgehalt
2023	67,900	1,26 Milliarden US-Dollar	$85,000

Wartung der Technologieinfrastruktur

ASE Technology gab im Jahr 2023 etwa 320 Millionen US-Dollar für die Wartung der Technologieinfrastruktur aus.

Globale Betriebskosten

Ausgabenkategorie	Jährliche Kosten	Prozentsatz des Umsatzes
Fertigungsaufwand	1,8 Milliarden US-Dollar	19.2%
Logistik und Transport	245 Millionen Dollar	2.6%
Verwaltungskosten	420 Millionen Dollar	4.5%

Gesamtbetriebskosten für 2023: 5,04 Milliarden US-Dollar

ASE Technology Holding Co., Ltd. (ASX) – Geschäftsmodell: Einnahmequellen

Halbleiterverpackungsdienstleistungen

Im Jahr 2023 erwirtschaftete ASE Technology einen Umsatz mit Halbleiterverpackungen in Höhe von 14,3 Milliarden US-Dollar. Die wichtigsten Umsatzaufschlüsselungen umfassen:

Servicetyp	Umsatz (Mio. USD)
Fortschrittliche Verpackung	5,720
Flip-Chip-Verpackung	3,890
System-in-Package-Lösungen	2,650

Elektronische Prüfung und Verifizierung

Elektronische Prüfdienste erwirtschafteten im Jahr 2023 3,2 Milliarden US-Dollar, mit Spezialisierung auf:

• Wafertestdienste: 1,8 Milliarden US-Dollar
• Endgültige Testlösungen: 1,4 Milliarden US-Dollar

Verträge für Fertigungslösungen

Die Fertigungsverträge beliefen sich im Jahr 2023 auf insgesamt 6,5 Milliarden US-Dollar und sind wie folgt unterteilt:

Vertragstyp	Umsatz (Mio. USD)
Halbleiterfertigung	4,200
Spezialisierte Schaltungsfertigung	2,300

Lizenzierung von geistigem Eigentum

Die Einnahmen aus IP-Lizenzen erreichten im Jahr 2023 412 Millionen US-Dollar, mit:

• Halbleiterdesign-IP: 276 Millionen US-Dollar
• Lizenzierung für fortschrittliche Verpackungstechnologie: 136 Millionen US-Dollar

Technologieberatungsdienste

Die Technologieberatung generierte im Jahr 2023 580 Millionen US-Dollar, verteilt auf:

Beratungsbereich	Umsatz (Mio. USD)
Beratung zum Halbleiterdesign	340
Optimierung des Fertigungsprozesses	240

ASE Technology Holding Co., Ltd. (ASX) - Canvas Business Model: Value Propositions

You're looking at the core reasons why customers choose ASE Technology Holding Co., Ltd. for their most demanding semiconductor needs as of late 2025. It boils down to sheer scale, technological depth, and a comprehensive service offering.

World's largest provider of IC packaging and testing services.

ASE Technology Holding Co., Ltd. stands as the world's largest IC packaging and testing services provider. This scale means deep integration across the supply chain, positioning the company as the largest OSAT provider (Outsourced Semiconductor Assembly and Test). The sheer volume capability is a key draw for major chipmakers.

Leading-edge advanced packaging (LEAP) for AI/HPC with high utilization rates.

The value proposition here is direct access to high-growth, high-margin technology. Advanced packaging technologies, which include bump, flip-chip (FC), wafer-level packaging (WLP), and system-in-package (SiP), accounted for 48% of total packaging and testing revenue in the third quarter of 2025. Management targeted advanced packaging revenue to reach US$1.6 billion for the full year 2025. In the first quarter of 2025, LEAP services represented 10% of overall ATM revenues, a clear step up from 6% for the full year 2024. You see the immediate impact of this demand:

Metric	Capacity Status / Target (2025)	Source Data
Flip-chip and Wafer Bumping Lines	Running at full capacity
Wire-bond Packaging Utilization	Roughly the upper range of 70-80%
Overall Utilization (Q1 2025)	Slightly above the expected 65%

This high utilization, especially in critical areas, underpins profitability expectations, with the company confident that the ATM gross profit margin will return to the structural range in the whole year of 2026.

One-stop-shop for assembly, testing, and electronic manufacturing (ATM and EMS).

ASE Technology offers a complete suite of services spanning Assembly, Testing, and Materials (ATM) alongside Electronic Manufacturing Services (EMS). The ATM segment is the primary growth engine, with full-year 2025 ATM revenue in USD projected to increase by more than 20% from the prior year. Within ATM, the testing business is outpacing packaging growth; its revenue growth is expected to be twice that of packaging in 2025. By the end of 2025, the test business is targeted to account for between 19 to 20% of overall ATM revenue. For context on the scale of the ATM business, Q2 2025 net revenues hit NT$92,565 million.

Proprietary technology like FOCoS to address tight CoWoS supply.

To directly counter the tight supply for advanced 2.5D packaging like CoWoS, ASE is pushing its proprietary solutions. Several customers are reportedly looking at adopting ASE's in-house FOCoS (Fan-Out Chip on Substrate) technology, with positive developments anticipated as early as the second half of 2026. This technology is suitable for large package sizes and high input-output density designs for networking and server applications. Furthermore, the company announced FOCoS-Bridge with Through Silicon Via (TSV) in May 2025, a technology that reduces power loss by 3x for next-generation AI and HPC applications. Future capacity expansion, like the K18B plant slated for Q1 2028, will explicitly include CoWoS plus FOCoS capabilities.

High-quality, high-volume manufacturing scale and speed.

The commitment to scale is evident in the capital deployment. Total 2025 capital expenditure is projected to reach as much as US$6 billion, an increase from 2024's $1.9 billion in machinery CapEx alone. This aggressive investment is aimed at meeting demand, with management anticipating 2026 revenue growing by an additional $1 billion. The speed of response is shown by the Q3 2025 results, where consolidated net revenues grew 11.8% sequentially.

• Machinery CapEx in 2024: $1.9 billion.
• Projected 2025 Equipment Capital Spending: Up to $3 billion.
• Projected 2026 Revenue Growth: An additional $1 billion.

Finance: draft 13-week cash view by Friday.

ASE Technology Holding Co., Ltd. (ASX) - Canvas Business Model: Customer Relationships

You're looking at how ASE Technology Holding Co., Ltd. (ASX) manages its most critical asset: its relationships with the semiconductor giants it serves. This isn't just transactional; it's deeply embedded strategic alignment, especially given the current AI-driven capacity crunch.

Close, long-term strategic engagement with key clients on capacity planning.

The relationship structure is inherently concentrated, which speaks to the long-term nature of the partnerships required for advanced packaging. For the second quarter of 2025 (2Q25), the top 10 customers accounted for 71% of total net revenues. That's down slightly from 74% in the first quarter of 2025 (1Q25), suggesting a modest diversification or perhaps a slight easing in the concentration of the very largest orders, but still showing heavy reliance on a core group. This concentration necessitates deep, ongoing dialogue about future needs. For instance, loading on the Leading-Edge Advanced Packaging (LEAP) and traditional advanced packaging lines was reported as generally full coming out of the third quarter of 2025 (Q3 2025). Furthermore, flip-chip and wafer bumping production lines are running at full capacity. This level of utilization means capacity planning isn't a quarterly check-in; it's a multi-year commitment to secure future wafer allocation.

Here's a snapshot of that capacity and customer concentration:

Metric	Value (as of late 2025)	Context
Top 10 Customer Revenue Share (2Q25)	71%	Down from 74% in 1Q25
LEAP Revenue Share (1Q25)	10% of ATM Revenue	Up from 6% for full year 2024
Flip-Chip/Wafer Bumping Capacity Status	Full Capacity	Indicates high-touch, long-term commitment
Overall Packaging Utilization (Q3 2025)	Upper range of 70-80%	Driving proactive customer behavior

Shift toward proactive capacity pre-booking by customers.

Because capacity is so tight, especially for the high-demand AI and High-Performance Computing (HPC) chips, customer behavior has fundamentally changed. You're seeing a clear shift away from simply reacting to orders. Customer ordering behavior has become more proactive, moving from a demand-driven approach to pre-booking capacity in advance. This is a strong signal of customer confidence in ASE Technology Holding Co., Ltd.'s role in their long-term roadmaps. This pre-booking extends to securing upstream raw material supply, which is a direct result of the tight market supply and demand for advanced nodes.

Dedicated investor relations and transparent financial reporting.

Maintaining trust with the broader financial community is key, and ASE Technology Holding Co., Ltd. supports this with regular, detailed disclosures. For example, the Head of Investor Relations, Ken Shung, hosted the Q3 2025 Earnings Conference on October 30, 2025, providing detailed performance metrics. The company reports financials under Taiwan IFRS and provides data in both New Taiwan Dollars (NT$) and US Dollars (USD) for international clarity. You can track their commitment to transparency through their regular releases, such as the 2025 October Monthly Revenues released on November 10, 2025.

Key IR/Reporting Facts:

• Head of Investor Relations: Ken Shung (or Ken Hsiang).
• Q3 2025 Earnings Call Date: October 30, 2025.
• Consolidated Net Revenues (Q3 2025): NT$168.6 billion.
• Projected 2026 Revenue Increase: An additional $1 billion over 2025.

High-touch, technical sales for complex advanced packaging solutions.

The growth in the most advanced services requires a sales approach that is highly technical and consultative. The focus on Leading-Edge Advanced Packaging (LEAP) is a prime example. In 1Q25, LEAP services made up 10% of the total ATM revenues, a significant jump from the 6% seen in the full year 2024. This segment, critical for AI accelerators, demands deep technical collaboration. Furthermore, the company is expanding its final test capacity, expecting mass production of next-generation AI chips in the second half of 2026 to drive significant final testing revenue. For the full year 2025, the distribution of advanced packaging and testing revenue is planned as 65% from advanced packaging and 35% from advanced testing. This technical depth is what secures those long-term, high-value contracts.

ASE Technology Holding Co., Ltd. (ASX) - Canvas Business Model: Channels

You're looking at how ASE Technology Holding Co., Ltd. gets its advanced packaging, testing, and EMS services into the hands of its customers. It's a multi-pronged approach, balancing direct, high-touch sales with broad distribution networks. The company leverages its scale, operating across 15 countries as of September 2025, to maintain this global reach.

The direct engagement channel is critical for the high-value Advanced Technology Manufacturing (ATM) segment, which is the primary growth engine. This involves a dedicated direct sales force targeting major global semiconductor companies, specifically the fabless designers and Integrated Device Manufacturers (IDMs) who need cutting-edge solutions like the VIPack™ platform.

The physical footprint supports this sales effort, with global manufacturing and sales offices strategically placed across Asia, Europe, and the US. For instance, the company has facilities listed in Taiwan, China, Korea, Japan, Singapore, Malaysia, and the USA. This physical presence helps manage the complex supply chain and provides local support for global clients.

For the Electronic Manufacturing Services (EMS) side, the channel is heavily routed through the subsidiary, USI. USI handles the design, manufacturing, and sales of electronic components and motherboards, acting as a distinct distribution arm for that service line. The relative importance of these segments, based on Q1 2025 revenue contribution, shows the split in channel focus:

Operating Segment	Q1 2025 Revenue Share of Total Net Revenues	Notes
Packaging Operations (ATM)	46%	Direct sales focus on leading-edge technology.
EMS Operations (via USI)	42%	Distribution through the dedicated EMS subsidiary.
Testing Operations (ATM)	11%	Direct sales for wafer probing and final test.

Direct engagement with foundry partners is a key channel for capacity expansion, especially for the most advanced products. ASE Technology Holding Co., Ltd. is working directly with these partners to co-expand capacity for demanding technologies like 2.5D packaging, such as CoWoS. This collaborative channel ensures that the necessary capacity is aligned with customer needs, particularly for AI and High-Performance Computing (HPC) chips. The company is aggressively investing, raising its 2025 capital expenditure to as much as US$6 billion to meet these customer requests. The Advanced Packaging revenue for 2025 was planned to reach US$1.6 billion.

The overall strategy relies on these channels to deliver the consolidated net revenues, which reached NT$168.57 billion (approximately $5.66 billion USD) in Q3 2025. The company has a substantial workforce of approximately 103,000 employees globally as of September 2025 to support these sales and delivery channels.

You should track the revenue growth of the ATM segment, which saw its USD revenue grow 27% annually in Q3 2025, as this directly reflects the success of the direct sales force targeting high-end clients.

• Direct sales target fabless/IDMs for high-value ATM services.
• Global offices span 15 countries for localized support.
• USI acts as the dedicated channel for the 42% EMS revenue share (Q1 2025).
• Foundry partnerships secure capacity for 2.5D/CoWoS demand.
• Total 2025 forecasted revenue is about $20.54 billion USD.

Finance: draft 13-week cash view by Friday.

ASE Technology Holding Co., Ltd. (ASX) - Canvas Business Model: Customer Segments

You're looking at the core groups driving revenue for ASE Technology Holding Co., Ltd. (ASX) as of late 2025. This isn't just about selling a service; it's about embedding deep within the supply chains of the most demanding technology sectors. The customer base is clearly bifurcated across the Advanced Technology Manufacturing (ATM) and Electronic Manufacturing Services (EMS) arms of the business.

For the first quarter of 2025 (1Q25), the company reported total net revenues of NT$148,153 million. You can see how the ATM business, which handles the high-end packaging and testing, is the larger revenue generator compared to the EMS side.

Business Segment	1Q25 Net Revenue (NT$ million)	2024 Full Year Net Revenue (NT$ billion)
Semiconductor Assembly, Testing, and Materials (ATM)	NT$86,668 million	NT$316.3 billion
Electronic Manufacturing Services (EMS)	NT$62,295 million	NT$271.3 billion

The concentration risk is something to watch; for 1Q25, the five largest customers collectively represented approximately 44% of the total net revenues. That's a significant portion tied to a small group of industry giants.

High-Performance Computing (HPC) and Artificial Intelligence (AI) chip designers

These designers are the engine for the ATM segment's growth, particularly in advanced packaging. During 1Q25, the computing segment saw its relative positioning in the ATM revenue mix take a 'big step up.' This was directly attributed to the stable high demand nature of AI products, even as handset and other communications devices faced seasonal impacts.

Fabless semiconductor companies and Integrated Device Manufacturers (IDMs)

These are the foundational clients for the ATM business. The ATM segment delivered strong year-over-year growth, with net revenues in 1Q25 up 17.3% compared to 1Q24. The test business, specifically, continued its strong momentum, growing 2% in what is usually a seasonally softer quarter.

Automotive, communications, and consumer electronics device makers (EMS clients)

These clients form the core of the EMS business. For 1Q25, the EMS net revenues were NT$62,295 million, showing a 4.9% increase year-over-year. Looking at the third quarter (3Q25), the application mix showed a seasonal ramp-up in the consumer segment, which grew its application share, while other segments declined relatively.

ASIC and Edge AI developers driving demand for advanced packaging

This group is directly fueling the need for the most sophisticated services. Leading-Edge Advanced Packaging (LEAP) services within the ATM business are clearly a growth vector. In 1Q25, LEAP services made up 10% of total ATM revenues, a significant jump from the 6% share they held for the full year 2024. The company is putting capital behind this trend; they allocated US$200 million (approximately NT$5.88 billion) to new Fan-Out Panel-Level Packaging (FOPLP) production infrastructure in 2025, with commercial shipments anticipated before the end of the year.

Key technology adoption metrics include:

• LEAP services revenue share in ATM: 10% as of 1Q25.
• 2024 LEAP revenue: Exceeded USD 600 million.
• 2025 FOPLP capital allocation: US$200 million.
• ATM test business growth (1Q25 vs 4Q24): 2%.

The overall ATM business saw record revenues in 3Q25 of NT$100.3B, up 27% year-over-year on a US dollar basis, showing the high-value nature of the packaging and testing work these advanced chip designers require.

ASE Technology Holding Co., Ltd. (ASX) - Canvas Business Model: Cost Structure

You're looking at the core expenses driving ASE Technology Holding Co., Ltd. (ASX) operations as of late 2025, which is heavily weighted toward material and massive, ongoing capital investment. These costs define the scale and technological intensity of their semiconductor assembly and testing business.

Raw material costs are the largest component, representing exactly 49% of 1Q25 consolidated net revenues. This figure is based on the NT$72,343 million recorded for raw materials during that quarter. Honestly, in this industry, material input costs are always the primary driver of the cost of goods sold.

The commitment to future capacity is evident in the massive capital expenditure (CapEx) for expansion. ASE Technology Holding Co., Ltd. (ASX) has raised its 2025 equipment CapEx target to US$5.5 billion to cope with strong customer demand, particularly for artificial intelligence applications. This aggressive spending supports the necessary ramp-up in leading-edge packaging and testing capacity. For context, equipment CapEx in 1Q25 alone totaled US$892 million, and machinery and equipment spending in 3Q25 was $779 million.

Labor costs are a significant, but secondary, expense category. For the first quarter of 2025, labor costs totaled NT$16,997 million, which equated to 11% of the consolidated net revenues for that period. This reflects the specialized nature of the workforce required for advanced processes.

High depreciation and amortization charges directly reflect the prior years' and ongoing factory and equipment investments. For 1Q25, depreciation, amortization, and rental expenses were reported at NT$14.672 billion. This non-cash charge is a direct consequence of maintaining a world-class, high-asset base.

The company incurs significant R&D investment to stay ahead in advanced packaging and testing technologies. This investment is visible in the operating expenses, which saw sequential and annual increases in 1Q25 due to a continued R&D staff-up and labor-related costs preparing for higher leading-edge revenues. Similarly, 3Q25 operating expenses were up primarily due to higher R&D costs.

Here's a quick look at the major cost components from the 1Q25 Consolidated results:

Cost Component	Amount (NT$ Million)	Percentage of Net Revenues
Raw Material Cost	72,343	49%
Labor Cost	16,997	11%
Depreciation, Amortization and Rental Expenses	14,672	Not specified as % of revenue

The cost structure is also influenced by specific business segments, showing where the cost intensity lies:

• EMS segment raw material cost was 79% of its segment net revenues in 1Q25.
• ATM segment labor cost was 16% of its segment net revenues in 1Q25.
• ATM segment depreciation, amortization and rental expenses were NT$13,238 million in 1Q25.

Finance: draft 13-week cash view by Friday.

ASE Technology Holding Co., Ltd. (ASX) - Canvas Business Model: Revenue Streams

You're looking at the core ways ASE Technology Holding Co., Ltd. brings in money, which is heavily weighted toward its main service line. The foundation of the revenue generation is the Semiconductor Assembly and Test (ATM) services, which is the company's core business. This segment is clearly the largest driver of top-line performance, especially with the current AI-driven demand cycle.

To give you a clear picture of the revenue mix as of the latest full quarter, here is how the major segments contributed to the Q3 2025 consolidated net revenues of NT$168,569 million (or US$5,663 million).

Revenue Segment	Q3 2025 Revenue (NT$ million)	Q3 2025 Revenue Share (Approximate)	Q3 2025 YoY Growth
ATM (Assembly, Testing, and Material)	100,289	59% (Based on one source)	+16.9%
EMS (Electronic Manufacturing Services)	69,022	41% (Based on one source)	-8.4%

The Electronic Manufacturing Services (EMS) segment, while significant, showed a different trend in Q3 2025 compared to the core ATM business. You should note that for 1Q25, the EMS segment accounted for 42% of total net revenues. By Q3 2025, the EMS revenues were NT$69,022 million, which was up sequentially by 17.4% but down year-over-year by 8.4%. This sequential bounce suggests some seasonality or inventory adjustments within that specific service offering.

The real excitement, and a major focus for future revenue, is in the high-end services. The Advanced packaging revenue is firmly on track to reach US$1.6 billion for the full-year 2025. This is a massive jump from prior years, showing the success of their leading-edge investments. The growth within the ATM segment itself is unevenly distributed, which is important for understanding profitability drivers.

Here are the key details on the growth drivers within the ATM business for 2025 and beyond:

• Advanced packaging revenue for full-year 2025 targeted at US$1.6 billion.
• Full-year 2025 ATM revenue in U.S. dollar terms is projected to grow over 20% year-over-year.
• For the full-year 2025 distribution of advanced packaging and testing revenue, 65% is expected from advanced packaging.
• The testing business growth rate is projected to be twice that of advanced packaging in 2025.
• Leading-edge advanced packaging and testing revenue is targeted to grow by an additional US$1 billion in 2026.

The ATM segment's performance in Q3 2025 clearly shows the strength of specialized services; for instance, the test business revenue was up 30% annually, outpacing assembly. The company is definitely prioritizing capacity expansion to capture this high-value work, which is where the real margin improvement is expected to come from. Finance: draft 13-week cash view by Friday.