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魏哲家回应一切

6月4日，台积电年度股东会举行，魏哲家回应市场多项关切。

魏哲家谈及英特尔 18A、三星代工与马斯克 TeraFab 建厂等竞品，他称行业向来不乏竞争者，台积电依靠技术与效率持续取胜。对马斯克 TeraFab，致以诚挚祝福。

关于玻璃基板先进封装，其透露现已建成试产线，技术研发无捷径，需协同客户验证工艺，预计还要 2 至 3 年方能大批量投产。

魏哲家 2026 年台积电年度股东大会发言全文 

发言人：魏哲家（台积电董事长兼首席执行官）｜举办地点：中国台湾新竹｜日期：2026 年 6 月 4 日

开篇致辞与年度经营复盘

各位股东同仁，现场与线上参会的各位来宾，大家好。很荣幸在台积电 2026 年度股东大会上做年度经营汇报。上一财年依托全球人工智能产业热潮，公司业绩迎来跨越式增长，创下历史新高。

2025 年台积电合并营收达 3.8 万亿新台币，同比大涨 31.6%，全年营收与每股收益双双刷新历史纪录。公司股价也为全体股东创造丰厚回报：去年股东大会当日收盘股价为 950 新台币，截至今年 6 月 3 日收盘报 2425 新台币，12 个月内涨幅超 150%，切实为全体投资人实现资产增值。为和股东共享经营红利，2026 年度现金分红由去年每股 18 新台币上调至最低每股 24 新台币，分红增幅超 30%。与此同时，员工分红连续第三年上调约 30% 且不设分红上限，在行业上行周期中回馈核心员工。

AI 行业前景研判与长期需求展望

全球人工智能正迎来关键结构性变革，产业从以生成式 AI 问答应用为主，快速迈向可自主规划、执行指令的智能代理 AI，持续推高全球高性能芯片算力需求。公司直接客户及其下游终端厂商，均对全 AI 产业链需求保持乐观预判。

全球头部云厂商本年度计划投入 7250 亿美元布局 AI 相关资本开支，将持续拉动先进制程晶圆代工产能需求。即便台积电正全速推进全球建厂扩产，未来数年仍难以完全承接全行业由 AI 催生的芯片订单，在可预见周期内，市场需求体量将持续大幅高于全球晶圆代工总供给。

我们维持 2026 全年美元计价营收同比增速超 30% 的业绩指引，其中第二季度合并营收区间为 390 亿至 402 亿美元，毛利率介于 65.5%~67.5%。目前公司未发现增长放缓的相关信号，因此建议长期持仓的股东持续持有台积电股票，我们有信心长期业绩增速跑赢全球半导体大盘。

定价策略问答环节

多位股东提问，希望台积电趁供需紧张局势更大幅度上调芯片报价。魏哲家回应：我认同公司需要合理调价、维持稳健获利，但台积电绝不会效仿存储厂商暴涨式调价，这类暴涨仅能带来短期暴利，无法长久。

台积电将所有客户视为长期战略伙伴，而非短期获利工具。公司核心原则是永续经营，不做投机式大幅涨价。未来将依据技术价值稳健优化定价，在保障自身利益的同时，避免引发行业价格乱象。

前沿技术进展：高数值孔径极紫外光刻机（High-NA EUV）与先进封装

在尖端光刻设备方面，台积电已正式向阿斯麦采购下一代高 NA EUV 光刻机；目前内部研发团队正开展设备反复验证与工艺调试，该设备暂无法短期内投入量产。基于企业保密条例，相关设备采购数量不予披露，公司优先完成设备成本优化后再落地量产部署。

玻璃基板先进封装业务已建成专属试产产线，预计 2 至 3 年后实现规模化商用投产。先进封装与新型半导体材料研发没有捷径，我们将联合全球客户开展联合工艺验证，稳步提升良率与大规模量产效率，落地既定研发路线。

行业竞争格局：英特尔、三星及马斯克泰拉晶圆厂项目

现场股东就英特尔 18A 制程、三星晶圆代工业务、埃隆・马斯克拟建 TeraFab 晶圆厂带来的竞争威胁提出疑问。我的观点很明确：台积电发展历程中从不缺强劲竞争对手，我们一贯的竞争策略，就是依靠领先技术与运营效率持续领跑同业。

无论新玩家入局还是老牌厂商大举扩产，台积电始终锚定全球半导体工艺与制造效率领跑的战略目标。倘若某条新工艺路线被市场验证具备商业化价值，台积电完全有能力依托技术实力守住该领域全球顶尖代工地位。针对马斯克的 TeraFab 建厂计划，我们仅在此送上诚挚祝福。

全球产能布局与结束语

台积电全球建厂布局综合考量三大核心要素：终端市场需求增长、客户供应链本土化诉求、地缘多元化布局需求，同时依托各地政府配套产业政策有序落地海外建厂项目。公司将持续加码研发与资本开支，产能扩张锚定 AI 长期需求周期，在技术迭代升级的同时，持续为股东创造稳健收益。

最后，再次感谢各位股东长久以来的信赖与支持，助力台积电长远发展。

English Translation of C.C. Wei’s Full Remarks at TSMC 2026 Annual Shareholders’ Meeting（魏哲家 2026 台积电股东会发言全文 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.

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