台积电TSM

外国私人发行人年度报告：地位相当于 10-K，可按本国会计准则编制（常见 IFRS）。

报告期

2025-12-31（财年）

提交日

2026-04-16

SEC 归档号

0001628280-26-025362

营业收入

$882.68亿

净利润

$353.01亿

总资产

$2040.79亿

• 下面的财务数据是 SEC XBRL 里与这份报告「归档号 + 报告期」精确匹配的那一条，不是最新一期的替代值。

这份定期报告本身不含事项编号，报告期前后也没有已收录的 8-K。

节选自 SEC 原文的 Risk Factors 章节，未做改写。

节选自 SEC 原文 · 该章节约 23370 字，此处显示前 3000 字

Risk Factors We wish to caution readers that the following important factors, and those important factors described in other reports submitted to, or filed with, the U.S. Securities and Exchange Commission (“U.S. SEC”), among other factors, could affect our actual results and could cause our actual results to differ materially from those expressed in any forward-looking statements made by us or on our behalf, and that such factors may adversely affect our business and financial status and therefore the value of your investment. Risks Relating to Our Business Any global systemic political, economic and financial crisis (as well as the indirect effects flowing therefrom) could negatively affect our business, results of operations, and financial condition. In recent times, several major systemic political, economic and financial crises negatively affected global business, banking and financial sectors, including the semiconductor industry and markets. Since 2018, political and trade tensions among a number of the world’s major economies have been on the rise. These tensions have resulted or may result in the implementation of tariffs, non-tariff trade barriers, sanctions, export controls and other measures that have been particularly impactful to the semiconductor industry and related markets. Prolonged or increased use of such measures may negatively impact the growth of the global economy and the semiconductor industry, resulting in declines in electronic products sales from which we generate our income through our products and services. For example, in April 2025, the U.S. President announced a 10% baseline tariff on imports into the U.S. from all countries, as well as varying reciprocal tariffs on most of the U.S.’s trading partners under the International Emergency Economic Powers Act (“IEEPA”). Collection of the reciprocal tariffs was delayed until August 2025, and while they excluded semiconductors, semiconductor manufacturing equipment and their respective derivative products (collectively “Semiconductor Items”), these tariffs nonetheless affected our cost of operations in the U.S. These tariffs were declared unlawful by a February 2026 U.S. Supreme Court ruling. While the ruling removes IEEPA as a basis for tariffs, its broader impact on the U.S. ’ s tariff and trade agenda, international trade activities, and the global economy remains uncertain. Following the Supreme Court ruling, the U.S. imposed a replacement tariff under Section 122 of the Trade Act of 1974 and in March 2026, the U.S. Trade Representative, using authority in Section 301 of the Trade Act of 1974, initiated two investigations relating to alleged manufacturing overcapacity and failures to take action on forced labor, targeting various economies, including Taiwan, which could result in trade actions such as the imposition of additional tariffs . Also, in April 2025, the U.S. government initiated a Section 232 investigation related to imports of Semiconductor Items, which c

在原文里查看该章节