魏哲家回應(yīng)一切

6月4日，臺(tái)積電年度股東會(huì)舉行，魏哲家回應(yīng)市場多項(xiàng)關(guān)切。

魏哲家談及英特爾 18A、三星代工與馬斯克 TeraFab 建廠等競品，他稱行業(yè)向來不乏競爭者，臺(tái)積電依靠技術(shù)與效率持續(xù)取勝。對馬斯克 TeraFab，致以誠摯祝福。

關(guān)于玻璃基板先進(jìn)封裝，其透露現(xiàn)已建成試產(chǎn)線，技術(shù)研發(fā)無捷徑，需協(xié)同客戶驗(yàn)證工藝，預(yù)計(jì)還要 2 至 3 年方能大批量投產(chǎn)。

魏哲家談及存儲(chǔ)：我想漲價(jià)，但不學(xué)存儲(chǔ)廠商暴漲報(bào)價(jià)，和客戶是伙伴關(guān)系、臺(tái)積電走永續(xù)經(jīng)營路線。（點(diǎn)擊看

Multiple shareholders proposed we lift chip pricing more aggressively to capitalize on tight supply. I acknowledge our incentive to adjust pricing reasonably to secure healthy corporate profitability, yet TSMC will never follow the volatile sharp price spikes seen in memory-chip manufacturers, which yield unsustainable short-term windfalls only.

附：魏哲家股東會(huì)10條核心觀點(diǎn)

1. AI需求持續(xù)攀升：AI從生成轉(zhuǎn)向推理，算力需求持續(xù)走高，上下游客戶對AI前景看法都偏正面。

2. 產(chǎn)能長期供不應(yīng)求：就算持續(xù)擴(kuò)產(chǎn)，未來數(shù)年產(chǎn)能仍跟不上AI帶來的芯片需求。

3. 營收增速向好：2026年美元營收增速目標(biāo)超30%，目前沒看到增長放緩的訊號，建議股東繼續(xù)持股。

4. 堅(jiān)持穩(wěn)健定價(jià)：我想漲價(jià)，但不學(xué)存儲(chǔ)廠商暴漲報(bào)價(jià)，和客戶是伙伴關(guān)系、臺(tái)積電走永續(xù)經(jīng)營路線。

5. 高NA EUV 已買：已采購High-NA EUV設(shè)備，現(xiàn)階段成本偏高，暫不量產(chǎn)，持續(xù)優(yōu)化成本再投產(chǎn)。

6. 封裝量產(chǎn)有期：玻璃基板先進(jìn)封裝已建試產(chǎn)線，還需2～3年才可規(guī)?；慨a(chǎn)。

7. 憑實(shí)力應(yīng)對競爭：行業(yè)從來分紅回饋全員股東：今年現(xiàn)金股息上調(diào)至每股至少24新臺(tái)幣，員工分紅連年增約30%、無分紅上限。

8. 全球化穩(wěn)健布局：全球建廠兼顧市場需求、客戶本地化、地緣分散，依托各地政策穩(wěn)步落地。

9. 持續(xù)加碼資本投入：資本開支高點(diǎn)無法預(yù)判，當(dāng)下沒有縮減大額投入的理由。

魏哲家 2026 年臺(tái)積電年度股東大會(huì)發(fā)言全文

發(fā)言人：魏哲家（臺(tái)積電董事長兼首席執(zhí)行官）｜舉辦地點(diǎn)：中國臺(tái)灣新竹｜日期：2026 年 6 月 4 日

篇致辭與年度經(jīng)營復(fù)盤

各位股東同仁，現(xiàn)場與線上參會(huì)的各位來賓，大家好。很榮幸在臺(tái)積電 2026 年度股東大會(huì)上做年度經(jīng)營匯報(bào)。上一財(cái)年依托全球人工智能產(chǎn)業(yè)熱潮，公司業(yè)績迎來跨越式增長，創(chuàng)下歷史新高。

2025 年臺(tái)積電合并營收達(dá) 3.8 萬億新臺(tái)幣，同比大漲 31.6%，全年?duì)I收與每股收益雙雙刷新歷史紀(jì)錄。公司股價(jià)也為全體股東創(chuàng)造豐厚回報(bào)：去年股東大會(huì)當(dāng)日收盤股價(jià)為 950 新臺(tái)幣，截至今年 6 月 3 日收盤報(bào) 2425 新臺(tái)幣，12 個(gè)月內(nèi)漲幅超 150%，切實(shí)為全體投資人實(shí)現(xiàn)資產(chǎn)增值。為和股東共享經(jīng)營紅利，2026 年度現(xiàn)金分紅由去年每股 18 新臺(tái)幣上調(diào)至最低每股 24 新臺(tái)幣，分紅增幅超 30%。與此同時(shí)，員工分紅連續(xù)第三年上調(diào)約 30% 且不設(shè)分紅上限，在行業(yè)上行周期中回饋核心員工。

AI 行業(yè)前景研判與長期需求展望

全球人工智能正迎來關(guān)鍵結(jié)構(gòu)性變革，產(chǎn)業(yè)從以生成式 AI 問答應(yīng)用為主，快速邁向可自主規(guī)劃、執(zhí)行指令的智能代理 AI，持續(xù)推高全球高性能芯片算力需求。公司直接客戶及其下游終端廠商，均對全 AI 產(chǎn)業(yè)鏈需求保持樂觀預(yù)判。

全球頭部云廠商本年度計(jì)劃投入 7250 億美元布局 AI 相關(guān)資本開支，將持續(xù)拉動(dòng)先進(jìn)制程晶圓代工產(chǎn)能需求。即便臺(tái)積電正全速推進(jìn)全球建廠擴(kuò)產(chǎn)，未來數(shù)年仍難以完全承接全行業(yè)由 AI 催生的芯片訂單，在可預(yù)見周期內(nèi)，市場需求體量將持續(xù)大幅高于全球晶圓代工總供給。

我們維持 2026 全年美元計(jì)價(jià)營收同比增速超 30% 的業(yè)績指引，其中第二季度合并營收區(qū)間為 390 億至 402 億美元，毛利率介于 65.5%~67.5%。目前公司未發(fā)現(xiàn)增長放緩的相關(guān)信號，因此建議長期持倉的股東持續(xù)持有臺(tái)積電股票，我們有信心長期業(yè)績增速跑贏全球半導(dǎo)體大盤。

定價(jià)策略問答環(huán)節(jié)

多位股東提問，希望臺(tái)積電趁供需緊張局勢更大幅度上調(diào)芯片報(bào)價(jià)。魏哲家回應(yīng)：我認(rèn)同公司需要合理調(diào)價(jià)、維持穩(wěn)健獲利，但臺(tái)積電絕不會(huì)效仿存儲(chǔ)廠商暴漲式調(diào)價(jià)，這類暴漲僅能帶來短期暴利，無法長久。

臺(tái)積電將所有客戶視為長期戰(zhàn)略伙伴，而非短期獲利工具。公司核心原則是永續(xù)經(jīng)營，不做投機(jī)式大幅漲價(jià)。未來將依據(jù)技術(shù)價(jià)值穩(wěn)健優(yōu)化定價(jià)，在保障自身利益的同時(shí)，避免引發(fā)行業(yè)價(jià)格亂象。

前沿技術(shù)進(jìn)展：高數(shù)值孔徑極紫外光刻機(jī)（High-NA EUV）與先進(jìn)封裝

在尖端光刻設(shè)備方面，臺(tái)積電已正式向阿斯麥采購下一代高 NA EUV 光刻機(jī)；目前內(nèi)部研發(fā)團(tuán)隊(duì)正開展設(shè)備反復(fù)驗(yàn)證與工藝調(diào)試，該設(shè)備暫無法短期內(nèi)投入量產(chǎn)?；谄髽I(yè)保密條例，相關(guān)設(shè)備采購數(shù)量不予披露，公司優(yōu)先完成設(shè)備成本優(yōu)化后再落地量產(chǎn)部署。

玻璃基板先進(jìn)封裝業(yè)務(wù)已建成專屬試產(chǎn)產(chǎn)線，預(yù)計(jì) 2 至 3 年后實(shí)現(xiàn)規(guī)?；逃猛懂a(chǎn)。先進(jìn)封裝與新型半導(dǎo)體材料研發(fā)沒有捷徑，我們將聯(lián)合全球客戶開展聯(lián)合工藝驗(yàn)證，穩(wěn)步提升良率與大規(guī)模量產(chǎn)效率，落地既定研發(fā)路線。

行業(yè)競爭格局：英特爾、三星及馬斯克泰拉晶圓廠項(xiàng)目

現(xiàn)場股東就英特爾 18A 制程、三星晶圓代工業(yè)務(wù)、埃隆?馬斯克擬建 TeraFab 晶圓廠帶來的競爭威脅提出疑問。我的觀點(diǎn)很明確：臺(tái)積電發(fā)展歷程中從不缺強(qiáng)勁競爭對手，我們一貫的競爭策略，就是依靠領(lǐng)先技術(shù)與運(yùn)營效率持續(xù)領(lǐng)跑同業(yè)。

無論新玩家入局還是老牌廠商大舉擴(kuò)產(chǎn)，臺(tái)積電始終錨定全球半導(dǎo)體工藝與制造效率領(lǐng)跑的戰(zhàn)略目標(biāo)。倘若某條新工藝路線被市場驗(yàn)證具備商業(yè)化價(jià)值，臺(tái)積電完全有能力依托技術(shù)實(shí)力守住該領(lǐng)域全球頂尖代工地位。針對馬斯克的 TeraFab 建廠計(jì)劃，我們僅在此送上誠摯祝福。

全球產(chǎn)能布局與結(jié)束語

臺(tái)積電全球建廠布局綜合考量三大核心要素：終端市場需求增長、客戶供應(yīng)鏈本土化訴求、地緣多元化布局需求，同時(shí)依托各地政府配套產(chǎn)業(yè)政策有序落地海外建廠項(xiàng)目。公司將持續(xù)加碼研發(fā)與資本開支，產(chǎn)能擴(kuò)張錨定 AI 長期需求周期，在技術(shù)迭代升級的同時(shí)，持續(xù)為股東創(chuàng)造穩(wěn)健收益。

最后，再次感謝各位股東長久以來的信賴與支持，助力臺(tái)積電長遠(yuǎn)發(fā)展。

English Translation of C.C. Wei’s Full Remarks at TSMC 2026 Annual Shareholders’ Meeting（魏哲家 2026 臺(tái)積電股東會(huì)發(fā)言全文 英）

Speaker: C.C. Wei (Chairman & CEO, TSMC) | Venue: Hsinchu, Taiwan | Date: June 4, 2026

Opening & Annual Operational Review

Dear fellow shareholders, good day to all in-person and online attendees. It is my honor to deliver this annual operational briefing at TSMC’s 2026 Annual General Shareholders’ Meeting. The past fiscal year has been an outstanding year of record-setting growth powered by the global artificial intelligence boom.In 2025, TSMC posted consolidated revenue of NT$3.8 trillion, representing a year-on-year surge of 31.6%, with both annual revenue and earnings per share hitting all-time historical highs. Our stock price has delivered remarkable returns for shareholders: closing at NT$950 on the date of last year’s AGM, our share price settled at NT$2,425 as of June 3 this year, marking an over 150% appreciation within 12 months and substantial value creation for all investors. To share operational gains with shareholders, we raise annual cash dividends from NT$18 per share last year to a minimum of NT$24 per share in 2026, a dividend hike exceeding 30%. Meanwhile, employee profit-sharing will climb roughly 30% for the third consecutive year with no upper payout cap, as we reward our core workforce amid the industry upswing.

AI Industry Outlook & Long-Term Demand Judgement

Global AI is undergoing a pivotal structural shift, evolving rapidly from generative-AI query-centric applications toward agentic-AI that executes autonomous planning and actionable commands, continuously ratcheting up worldwide high-performance computing requirements. Our direct clients and their downstream end-users uniformly maintain upbeat forecasts for the full AI industrial chain.Major global hyperscale cloud operators are poised to pour USD 725 billion into AI-focused capital outlays this single year, generating persistent robust demand for advanced wafer fabrication capacity. Even with our ongoing aggressive global fab expansion initiatives, TSMC will be unable to fully satisfy AI-fueled chip demand across the semiconductor sector for multiple years ahead; demand fundamentals far outpace global foundry supply capacity in the foreseeable future. We reiterate our full-year 2026 US-dollar denominated revenue growth guidance above 30%, with Q2 consolidated revenue projected between USD 39 billion and USD 40.2 billion and gross margin ranging from 65.5% to 67.5%. Up to now, we have spotted no indicators signaling an upcoming slowdown in our growth trajectory; hence I consistently advise shareholders who intend to hold our stock to keep investing in TSMC, as we remain confident of outperforming broader semiconductor industry growth over the long haul.

Pricing Strategy Q&A

Multiple shareholders proposed we lift chip pricing more aggressively to capitalize on tight supply. I acknowledge our incentive to adjust pricing reasonably to secure healthy corporate profitability, yet TSMC will never follow the volatile sharp price spikes seen in memory-chip manufacturers, which yield unsustainable short-term windfalls only. We treat all clients as long-term strategic partners instead of transient profit sources, and our core principle centers on sustainable perpetual business development rather than opportunistic drastic markup cycles. We will steadily optimize product pricing to match our technological value without triggering abnormal industry price turbulence.

Advanced Technology Progress: High-NA EUV & Advanced Packaging

For cutting-edge lithography development, I confirm TSMC has formally purchased ASML’s next-generation High-NA EUV scanners; our internal R&D team is conducting iterative equipment validation and process tuning at present, though volume mass production using these machines will not kick off anytime soon. We withhold specific procurement quantities of High-NA EUV per corporate confidentiality protocols, prioritizing cost-efficiency optimization of the equipment before formal production deployment.Regarding glass-substrate advanced packaging, we have established dedicated pilot production lines, and mass commercial manufacturing is expected to roll out in roughly two to three years. Breakthroughs in advanced packaging and novel semiconductor materials admit no shortcuts; our R&D roadmap hinges on joint technical verification alongside global clients to stabilize production yield and large-scale manufacturing efficiency.

Competition Landscape: Intel, Samsung & Musk’s TeraFab Project

Questions emerged concerning competitive threats from Intel’s 18A process, Samsung Foundry, plus Elon Musk’s prospective TeraFab wafer fab blueprint. My straightforward stance is TSMC has never lacked fierce competitors throughout its development history, and our permanent competitive strategy is to outpace rivals persistently via superior technology and operational efficiency.Irrespective of new market entrants or incumbent peers’ aggressive capacity expansion, TSMC sticks firmly to the strategic objective of leading global semiconductor technology and manufacturing productivity. If a cutting-edge manufacturing route proves commercially viable, TSMC is fully positioned to retain global top-tier foundry standing on that technology. As for Mr. Musk’s TeraFab plan, my sole comment is to offer sincere best wishes for his project.

Global Capacity Layout & Closing Remarks

Our worldwide fab construction layout balances three core drivers: end-market demand growth, clients’ supply-chain localization requirements, and geopolitical diversification needs, with targeted governmental policy backing supporting orderly overseas factory rollout. We will keep ramping R&D and capital expenditure, align capacity expansion with long-run AI demand cycles, and maximize sustained returns for shareholders alongside continuous technical advancement.

Once more, thank all shareholders for your enduring trust and backing of TSMC’s long-term development.