VANGUARD INTERNATIONAL SEMICONDUCT Business Summary

Vanguard International Semiconductor (VIS) operates as a leading pure-play specialty IC foundry, generating revenue through the fabrication of silicon wafers for fabless chip designers and integrated device manufacturers (IDMs). The company’s business model is heavily concentrated in mature and specialty process technologies, with approximately 78% of its revenue derived from Power Management ICs (PMICs), followed by Display Driver ICs (DDICs) and discrete power devices. While historically a specialist in 8-inch (200mm) wafer production, VIS is currently executing a strategic shift toward 12-inch (300mm) manufacturing through VisionPower Semiconductor Manufacturing Company (VSMC), a $7.8 billion joint venture with NXP Semiconductors in Singapore. This expansion is designed to capture high-growth demand in AI server infrastructure, automotive, and industrial sectors. VIS competes directly with United Microelectronics Corporation (UMC), GlobalFoundries, and Powerchip Semiconductor Manufacturing Corp (PSMC), positioning itself as a high-efficiency niche leader that bridges the gap between legacy nodes and advanced specialty analog applications. Founded in 1994 as a spin-off from the Industrial Technology Research Institute (ITRI) Sub-Micron Project, VIS maintains a deep institutional pedigree tied to the Taiwan Semiconductor Manufacturing Company (TSMC) ecosystem. The current leadership team is headed by Chairman and Chief Strategy Officer Leuh Fang and President John Wei, both of whom are TSMC veterans with decades of experience in semiconductor operations and strategic planning. The executive suite, supported by CFO Amanda Huang, focuses on maintaining high factory utilization rates and technology cross-licensing. TSMC remains the company’s most notable investor and strategic partner, holding an approximate 28% stake and providing critical technology transfers for the company's new 300mm initiatives. The board of directors includes prominent industry figures such as Vice Chairman F.C. Tseng, a co-founder of TSMC, ensuring strong corporate governance and alignment with global semiconductor standards.