WIN Semiconductors reported financial results for 1Q2022 with revenue of NT$5.6 billion, down 22% quarter-over-quarter and 7% year-over-year. Gross margin and operating margin declined from the previous quarter to 30.6% and 16.4% respectively, mainly due to a decline in capacity utilization rate. Net profit was NT$786 million, down 53% quarter-over-quarter and 28% year-over-year. For 2Q2022, revenue is expected to decline by high single digits quarter-over-quarter with gross margin between high twenties to low thirties percent.