10 unchanged sentences
We are a designer, developer and global supplier of a broad portfolio of power semiconductors.
−Removed: Our portfolio of power semiconductors includes approximately 2,800 products, and has grown with the introduction of over 100 new products in the fiscal year ended June 30, 2025, and over 100 and 60 new products in the fiscal years ended June 30, 2024 and 2023, respectively.
+Added: Our portfolio of power semiconductors includes approximately 2,900 products, and has grown with the introduction of over 70 new products in the fiscal year ended June 30, 2026, and over 100 new products in each of the fiscal years ended June 30, 2025 and 2024, respectively.
Our teams of scientists and engineers have developed extensive intellectual properties and technical knowledge that encompass major aspects of power semiconductors, which we believe enables us to introduce and develop innovative products to address the increasingly complex power requirements of advanced electronics.
13 unchanged sentences
We believe our in-house packaging and testing capability provide us with a competitive advantage in proprietary packaging technology, product quality, cost and sales cycle time.
−Removed: As of June 30, 2025, we owned approximately 39.2% of outstanding equity interest in a joint venture company (the “JV Company”) that operates a power semiconductor packaging, testing and 12-inch wafer fabrication facility (“Fab”, “Chongqing Fab” ) in the LiangJiang New Area of Chongqing, China, and the JV Company is an important supplier of wafers and assembly and test services to us.
−Removed: On December 30, 2024, the JV Company signed an investment agreement with an investor, pursuant to which the investor agreed to invest RMB 500 million (or $68.5 million based on the currency exchange rate between RMB and
−Removed: Dollar on December 31, 2024) in the JV Company in exchange for a 7.09% interest.
−Removed: This transaction closed on January 15, 2025, at which time, the percentage of outstanding JV Company’s equity interest owned by the Company was reduced to approximately 39.2%.
−Removed: We recorded a gain of $0.5 million on the change of equity interest in the JV Company, which was included in the equity method investment loss line in the consolidated statements of operations.
−Removed: The funding of the investment was agreed to be made in three installments.
−Removed: The JV Company received the first installment of RMB 40 million (or $5.5 million) on December 31, 2024.
−Removed: However, the JV Company has not received the remaining two installments as of the filing date.
−Removed: On July 14, 2025, we entered into an equity transfer agreement (“Agreement”) with the investor to sell approximately 20.3% of outstanding equity interest in the JV Company for an aggregate cash consideration of $150 million.
−Removed: We identified the negotiations of the equity transfer agreement throughout the fourth quarter of fiscal year 2025 as an impairment indicator and performed a quantitative impairment test as of June 30, 2025.
−Removed: Based on the implied valuation of the JV Company per the transaction price in the equity transfer agreement, the fair value of the equity method investment was determined to be lower than its carrying value, and a $76.8 million other-than-temporary impairment of the equity method investment was recognized as of June 30, 2025.
−Removed: We believe this sale will provide additional and significant capital for us to continue investment in technology, research and development projects and acquisition of assets complimentary to our business operations, which will facilitate and accelerate our efforts to develop and distribute innovative and diverse power semiconductor products to customers worldwide.
−Removed: In addition, the JV Company will continue to provide us with a significant level of foundry capacity to enable us to develop and manufacture our products.
−Removed: Pursuant to an agreement with the JV Company and other shareholders of the JV Company, the JV Company is committed to provide us with a specified level of monthly wafer production capacity.
+Added: We hold a minority equity interest in a power semiconductor packaging, testing and 12-inch wafer fabrication facility (the “JV Company”) in the LiangJiang New Area of Chongqing, China, which provides us with significant level of foundry and packaging capacity to enable us to develop and manufacture our products.
+Added: Pursuant to an agreement with the JV Company and other shareholders of the JV Company, the JV Company is committed to providing us with a specified level of monthly wafer production capacity.
+Added: On July 14, 2025, we entered into an equity transfer agreement with a strategic investor to sell
+Added: approximately 20.3% of outstanding equity interest in the JV Company held by us for an aggregate cash consideration of $150 million paid in four installments, subject to satisfaction of certain conditions.
+Added: On August 29, 2025, the amended Shareholders’ agreement for the JV Company was signed, which reduced our equity interest in the JV Company by 20.3% to an ownership percentage of 18.9%.
+Added: During fiscal year 2026, all of the conditions for installments were satisfied, and we received all installment payments.
+Added: We believe this sale provides additional and significant capital for us to continue investment in technology, new product development and acquisition of assets complementary to our business operations, which will facilitate and accelerate our efforts to develop and distribute innovative and diverse power semiconductor products to customers worldwide.
+Added: As of June 30, 2026, the percentage of outstanding JV equity interest beneficially owned by us was 18.9%.
Semiconductors are electronic devices that perform a variety of functions, such as converting or controlling signals, processing data and delivering or managing power.
−Removed: The functionality and performance of semiconductors have generally increased over time, while size and cost have generally decreased.
+Added: The functionality and performance of semiconductors have generally increased over time.
These advances have led to a proliferation of more complex semiconductors being used in a wide variety of consumer, computing, communications and industrial markets and have contributed to the growth of the semiconductor industry.
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The evolution of these products is characterized by increased functionality, thinner and smaller form factors and decreasing prices.
−Removed: Our Power IC and low voltage
−Removed: (5V-40V) MOSFET products address these markets.
+Added: Our Power IC and low voltage (5V-40V) MOSFET products address these markets.
In the area of AC-DC power supplies for electronic equipment, data centers and servers, the market is characterized by a continuous demand for energy conservation through higher efficiency, which drives the market for our medium voltage (40V-400V) and high voltage (500V-1000V) MOSFET products.
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In addition, we enhanced the manufacturing capability and capacity of our Oregon Fab by investing in new equipment and expanding factory facilities, which we expect will have a positive impact on our future new product development and revenue.
−Removed: We intend to continue exploring opportunities to expand our manufacturing capabilities, including acquisition of existing facilities, formation of joint ventures or partnerships with third parties or applying for government funding or grants available in the semiconductor industry.
+Added: We intend to continue exploring opportunities to expand our manufacturing capabilities, including acquisition of existing facilities, formation of joint ventures or partnerships with third parties or applying for government funding or grants in the semiconductor industry.
Although our largest end-market is the Computing market, we have successfully diversified our business by expanding into other markets, including consumer, communications, and power supply and industrial markets.
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In addition, several ODMs are beginning to design, manufacture and brand their own proprietary products which are sold directly to consumers.
−Removed: We intend to strengthen our existing relationships and form new ones with both OEMs and ODMs by aligning our product development efforts with their product requirements, thereby increasing the number of our products used within their systems, and leveraging relationships to penetrate other products.
+Added: We intend to strengthen our existing relationships and form new ones with both OEMs and ODMs by aligning our product development efforts with their product requirements, thereby increasing the number of our products used within their systems, and leveraging relationships to penetrate other product applications.
In addition, we are focusing our research and development efforts to respond more directly to market demand by designing and developing new products based on feedback from our customers, which also allows us to reduce time-to-market and sales cycles.
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We expanded our high voltage 600V and 700V MOSFET portfolio based on our aMOS5 technology platform in order to address demanding consumer and industrial applications.
−Removed: Our high-voltage portfolio includes our proprietary IGBT technology, which we provide highly robust and easy-to-use solutions for industrial motor control and white goods applications.
+Added: Our high-voltage portfolio includes our proprietary IGBT technology, which provides highly robust and easy-to-use solutions for industrial motor control and white goods applications.
We have also deployed our 1200V SiC (Silicon carbide) products based on our AlphaSiC platform, designed to address high efficiency, high density industrial applications such as solar inverters, UPS, and battery management systems.
Our power ICs deliver power as well as control and regulate the power management variables, such as the flow of current and level of voltage.
−Removed: Our DrMOS and smart power stage (SPS) family of products continue to grow as we paired our latest high performance MOSFET silicon with our latest Driver IC and smart driver technologies.
−Removed: We continue to expand our EZBuck power IC family with products that feature lower on-resistance, less power consumption, smaller footprint and thermally enhanced packages as well.
−Removed: Our smart load switch products have expanded beyond basic load switched to include specialized applications like Type C and eFuse.
−Removed: Success has been driven by increased power density and protection to discrete solutions.
−Removed: Sale of power ICs continued to gain traction during the past years especially with the expansion of our driver and multiphase controller product lines.
+Added: Our DrMOS and smart power stage (SPS) family of products continue to grow as we pair our latest high performance MOSFET silicon with our latest Driver IC and smart driver technologies.
+Added: We continue to expand our EZBuck power IC family with products that feature lower on-resistance, lower power consumption, smaller footprint and thermally enhanced packages as well.
+Added: Our smart load switch products have expanded beyond basic load switches to include specialized applications like Type C and eFuse.
+Added: Success has been driven by increased power density and protection for discrete solutions.
+Added: Sales of power ICs continue to gain traction in recent years especially with the expansion of our driver and multiphase controller product lines.
We introduced higher voltage drivers to expand success beyond PCs to motor drive applications such as power tools and garden equipment.
We have also made a major investment in R&D to enter the multiphase controller market in 2020 with the introduction of the Intel IMVP 9.1 controller for notebooks.
−Removed: Since then, AOS has released or is designing in several multiphase controller families serving Intel, AMD and NVIDIA.
−Removed: Introduction of these multiphase controllers has enabled AOS to become a complete solution level provider, across multiple compute platforms from PCs, graphics cards to AI and datacenter.
+Added: Since then, we have released or are designing in several multiphase controller families serving Intel, AMD and NVIDIA.
+Added: Introduction of these multiphase controllers has enabled us to become a complete solution level provider, across multiple compute platforms from PCs, graphics cards to AI and datacenter.
The following table lists our product families and the principal end uses of our products:
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Power factor correction
−Removed: Smart phone chargers, battery packs, notebooks, desktop and servers, data centers, base stations, graphics card, game boxes, TVs, AC adapters, power supplies, motor control, power tools, E-vehicles, white goods and industrial motor drives, UPS systems, solar inverters and industrial welding
+Added: Smart phones, chargers, notebooks, tablets, desktops, battery packs, servers, AI data centers, base stations, graphics cards, game consoles, TVs, AC adapters, power supplies, motor control, power tools, E-vehicles, and white goods industrial motor drives, and solar power inverters
Power ICs Integrated devices used for power management and power delivery DC-DC Buck conversion
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Smart load switching DrMOS power stage
−Removed: Flat panel displays, TVs, Notebooks, graphic cards, servers, AI datacenters, DVD/Blu-Ray players, set-top boxes, and networking equipment
+Added: Notebooks, desktops, graphic cards, servers, AI datacenters, game consoles, flat panel displays, TVs, and networking equipment
Analog power devices used for circuit protection and signal switching Transient voltage protection
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We introduced several new products based on our proprietary technology platform and continue to expand our product families.
−Removed: During the fourth quarter of fiscal year of 2025, we unveiled mega IPM-7 series intelligent power modules engineered to improve application performance and deliver increased power density.
−Removed: These new series are optimized for brushless DC (BLDC) motor drive-based designs, including home appliance applications such as air-conditioners, refrigerators, dishwashers, and power tools.
−Removed: We announced AOTL66935 utilizes AOS’ 100V AlphaSGT™ proprietary MOSFET technology which combines the advantages of trench technology for low on-resistance with high safe operating area (SOA) capability that meets 48V hot swap requirements in AI server and telecom applications.
−Removed: We introduced Gen3 1200V αSiC MOSFETs designed to maximize efficiency in high power applications.
−Removed: These Gen3 MOSFETs provide up to 30 percent improved switching figure-of-merit (FOM) compared to AOS’ previous generation while maintaining low conduction losses at high load conditions.
−Removed: We also introduced AMD SVI3 multiphase controller with low quiescent power for graphics and desktop systems.
−Removed: In addition, we introduced 25V MOSFET in DFN3.3x3.3 source-down packaging that meets power demands in AI servers.
−Removed: The source-down
−Removed: packaging technology offers a larger source contact to the PCB, and its center gate pin layout allows easier routing on the PCB, so the gate driver connection can be minimized.
−Removed: During the third quarter of fiscal year of 2025, we unveiled a 16-phase controller that supports further AI server and graphic card innovation.
−Removed: This control scheme delivers a highly efficient, flexible power solution when paired with AOS' power stages.
−Removed: We also added two new advanced MOSFET package options for high-current applications.
−Removed: These devices provide low ohmic and high current capabilities, critical to reducing the number of parallel MOSFETs needed in high current designs such as in next-generation e-mobility and industrial applications.
−Removed: During the second quarter of fiscal year of 2025, we announced our new application-specific EZBuck™ Regulator.
−Removed: The highly integrated, compact, and high-power-density AOZ23567QI constant on-time buck converter offers an upgraded solution that is designed to support VCCPRIM_VNNAON rails in the Intel Arrow Lake platform.
−Removed: Also, we unveiled our AOZ73004CQI, the world’s first 4-phase controller for blackwell GPUs.
−Removed: Its advanced design has received full OpenVReg (Open Voltage Regulator) OVR4-22 compliance.
−Removed: During the first quarter of fiscal year of 2025, we announced new highly robust power MOSFET LFPAK 5x6 package for high performance and high-reliability requirements.
−Removed: It is designed to withstand harsh environments while maintaining MOSFET.
−Removed: In addition, we introduced an ideal diode protection switch with limited power source feature as a safeguard for multiport USB-C applications.
−Removed: The new device has advanced features that substantially reduce voltage drop and power loss compared to a discrete implementation.
+Added: During the fourth quarter of fiscal year of 2026, we unveiled total power solution for next-generation Intel panther lake and wildcat lake platforms.
+Added: This technology bridges the gap between digital flexibility and analog efficiency, combining variable-frequency hysteretic peak-current mode control with advanced phase-current sensing.
+Added: We also announced the launch of the SmartClamp™ family of protected DrMOS.
+Added: Designed specifically for the extreme power demands of AI servers, data centers, and high-end graphics cards, the SmartClamp™ family offers high-accuracy over current protection and negative current protection.
+Added: During the third quarter of fiscal year of 2026, we introduced 25V and 80V MOSFETs in state-of-the-art packaging that meets increasing AI server power demands.
+Added: This double-sided thermal interface is the optimal solution to reduce heat generation and thermal stress compared to sing-sided cooling devices.
+Added: In addition, we unveiled our powerful αMOS E2™
+Added: 600V super junction MOSFET platform.
+Added: The design meets the growing demand for high efficiency and high-power density across a wide range of applications, including servers, workstations, telecom rectifiers, solar inverters, motor drives, and industrial power systems.
+Added: During the second quarter of fiscal year of 2026, we enabled 48V hot swap in AI servers with new high SOA MOSFET in LFPAK 8x8.
+Added: This state-of-the-art MOSFET handles higher peak currents delivering a cost-effective, high-performance and enhanced reliability hot swap solution.
+Added: In addition, we announced support for the power requirements of the innovative 800 VDC power architecture for next-generation AI factories with innovative SiC and GaN, power MOSFET, and power IC solutions.
+Added: This architecture is set to power the next generation of AI data centers, which will feature megawatt-scale racks to meet the exponential growth of AI workloads.
+Added: During the first quarter of fiscal year of 2026, we announced two powerful Type-C sink and source protection switches.
+Added: We designed these switches to increase the power delivery capability of USB Type-C ports to 240W, paving the way for Type-C extended power range (EPR) implementations.
+Added: In addition, we announced advanced eFuse that meets high reliability server application requirements.
+Added: We optimized this new eFuse product series for 12V power rails in servers, data centers, and telecom infrastructure.
Distributors and customers
6 unchanged sentences
In order to take advantage of the expertise of end-customer fulfillment logistics and shorter payment cycles, we sell most of our products through distributors.
−Removed: In general, under our agreements with distributors, they have limited rights to return unsold merchandise, subject to time and volume limitations.
As of June 30, 2026, 2025 and 2024, our two largest distributors were WPG Holdings Limited, or WPG, and Promate Electronic Co.
Ltd., or Promate.
−Removed: Sales to WPG and Promate accounted for 51.3% and 22.1% of our revenue, respectively, for the fiscal year ended June 30, 2025, 46.0% and 25.0% of our revenue, respectively, for the fiscal year ended June 30, 2024, and 35.6% and 21.6% of our revenue, respectively, for fiscal year ended June 30, 2023, respectively.
+Added: Sales to WPG and Promate accounted for 53.0% and 19.3% of our revenue, respectively, for the fiscal year ended June 30, 2026, 51.3% and 22.1% of our revenue, respectively, for the fiscal year ended June 30, 2025, and 46.0% and 25.0% of our revenue, respectively, for the fiscal year ended June 30, 2024.
Sales and marketing
6 unchanged sentences
Our sales team consists of sales personnel, field application engineers, customer service representatives and customer quality engineers who are responsible for key accounts.
−Removed: We strategically position our team near our end customers through our offices in Taipei, Hong Kong, Shenzhen, Shanghai, Qingdao, Suzhou, Tokyo, Seoul, Heilbronn, and Sunnyvale, California, complemented by our applications centers in Sunnyvale and Shanghai.
+Added: We strategically position our team near our end customers through our offices in Taipei, Hong Kong, Shenzhen, Shanghai, Beijing, Chengdu, Qingdao, Suzhou, Tokyo, Seoul, Heilbronn, and Sunnyvale, California, complemented by our applications centers in Sunnyvale and Shanghai.
In addition, our distributors and sales representatives assist us in our sales and marketing efforts by identifying potential customers, creating additional demand and promoting our products, in which case we may pay a sales commission.
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We view technology as a competitive advantage, and we invest significant time and capital in research and development to address the technology-intensive needs of our end customers.
−Removed: Our research and development expenditures for the fiscal years of 2025, 2024 and 2023 were $94.3 million, $89.9 million and $88.1 million, respectively.
−Removed: We continue to invest in developing new technologies and products utilizing our own fabrication and packaging facilities as it is critical to our long-term success.
+Added: Our research and development expenditures for fiscal years 2026, 2025 and 2024 were $103.9 million, $94.3 million and $89.9 million, respectively.
+Added: We continue to invest in developing
+Added: new technologies and products utilizing our own fabrication and packaging facilities as it is critical to our long-term success.
We also evaluate appropriate investment levels and stay focused on new product introductions to improve our competitiveness.
−Removed: We have research and development teams in Silicon Valley (Sunnyvale, California), Oregon, Texas, Arizona, Korea, Taiwan, and China.
+Added: We have research and development teams in Silicon Valley (Sunnyvale, California), Oregon, Texas, Arizona, Korea, Taiwan, United Kingdom, Serbia, India and China.
We believe that these diverse research and development teams enable us to develop leading edge technology platforms and new products.
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We allocate our wafer production between our in-house facility and third-party foundries.
−Removed: Currently wafers from our third-party accounts for around 30% of AOS’s total wafer supply.
+Added: Currently wafers from our third-party suppliers account for approximately 35% of AOS’s total wafer supply.
Packaging and testing
5 unchanged sentences
In addition, the JV Company handles a portion of our packaging and testing requirement.
−Removed: We continuously increase the outsourcing portion of our packaging and testing requirements to other
−Removed: contract manufacturers to improve our ability to respond to changes in market demand.
+Added: We continuously increase the outsourcing portion of our packaging and testing requirements to other contract manufacturers to improve our ability to respond to changes in market demand.
Our facilities have the combined capacity to package and test over 600 million parts per month and have available floor space for new package introductions.
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We have also entered into intellectual property licensing agreements with other companies to use selected third-party technology for the development of our products, although we do not believe our business is dependent to any significant degree on any individual third-party license agreement.
−Removed: In February 2023, the Company entered into a license agreement with a customer, pursuant to which the Company agreed to license its proprietary Silicon Carbide (SiC) technology to the customer and engineering and development services for 24 months for a total fee of $45.0 million, consisting of an upfront fee and various milestone payments over the 24 months.
−Removed: As of June 30, 2025, all revenue has been recognized and all consideration has been received associated with the license agreement and we have no further obligations under this agreement.
While we focus our patent efforts in the United States, we file corresponding foreign patent applications in other jurisdictions, such as China and Taiwan, when filing is justified by cost and strategic importance.
−Removed: The patents are increasingly important to remain competitive in our industry, and a strong patent portfolio will facilitate the entry of our products into new markets.
−Removed: As of June 30, 2025, we had 949 patents issued in the United States, which were based on our research and development efforts, of the 949 issued patents, 855 are active and these patents are set to expire between 2025 and 2043.
−Removed: We also had a total of 961 foreign patents, including 392 Chinese patents, 520 Taiwanese patents, 29 Korean patents, 5 Philippine patents, 8 Japanese patents, 3 Europe patents and 4 India patents as of June 30, 2025.
+Added: These patents are increasingly important to remain competitive in our industry, and a strong patent portfolio will facilitate the entry of our products into new markets.
+Added: As of June 30, 2026, we had 961 patents issued in the United States, which were based on our research and development efforts.
+Added: Of the 961 issued patents, 775 are active and these patents are set to expire between 2026 and 2044.
+Added: We also had a total of 991 issued foreign patents, including 407 Chinese patents, 535 Taiwanese patents, 29 Korean patents, 5 Philippine patents, 8 Japanese patents, 3 Europe patents and 4 India patents as of June 30, 2026.
Substantially all of our foreign patents were based on our research and development efforts.
−Removed: These foreign patents will expire in the years between 2025 and 2043.
+Added: These foreign patents expire in the years between 2025 and 2044.
In addition, as of June 30, 2026, we had a total of 208 patent applications, of which 78 patents were pending in the United States, 85 patents were pending in China, 42 patents were pending in Taiwan and 3 patents were pending in India.
As our technologies are deployed in new applications and as we diversify our product portfolio based on new technology platforms, we may be subject to potential infringement claims.
−Removed: Patent litigation, if and when instituted against us, could result in substantial costs and a diversion of our management's attention and resources.
−Removed: However, we are committed to vigorously
−Removed: defending and protecting our investment in our intellectual property.
+Added: As a technology company operating in a competitive environment, we are subject to intellectual disputes and legal claims, including patent litigations, which could result in substantial costs and a diversion of our management's attention and resources However, we are committed to vigorously defending and protecting our investment in our intellectual property.
Therefore, the strength of our intellectual property program, including the breadth and depth of our portfolio, will be critical to our success in the new markets we intend to pursue.
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We commit to a fair and living wage for all employees.
−Removed: We offer competitive compensation and benefits packages for our employees that include a combination of base salary, annual bonus, discretionary bonus for outstanding achievements, an employee stock purchase plan, time-based and performance-based long-term equity compensation.
+Added: We offer competitive compensation and benefits packages for our employees that include a combination of base salary, annual bonus, discretionary bonus for outstanding achievements, an employee stock purchase plan, time-based and performance-based long-term equity compensation and vacation benefits.
Our equity related compensation programs are designed to motivate and incentivize our employees and align their rewards to financial and other business performance goals, while increasing our shareholder value.
6 unchanged sentences
Our operations in China are subject to regulation and periodic monitoring by China’s State Environmental Protection Bureau, as well as local environmental protection authorities, including those under the Shanghai Municipal Government, which may in some cases establish stricter standards than those imposed by the State Environmental Protection Bureau.
−Removed: Our operation in Oregon is subject to Oregon Department of Environmental
−Removed: Regulations, Federal Environmental Protection Agency laws and regulations, and local jurisdictional regulations.
+Added: Our operation in Oregon is subject to Oregon Department of Environmental Regulations, Federal Environmental Protection Agency laws and regulations, and local jurisdictional regulations.
We believe that we have been in material compliance with applicable environmental regulations and standards and have not had a material or adverse effect on our results of operations from complying with these regulations.
2 unchanged sentences
We believe that we have adopted pollution control measures for the effective maintenance of environmental protection standards consistent with the requirements applicable to the semiconductor industry in China and the U.S.
−Removed: Our products sold in worldwide are subject to RoHS in Electrical and Electronic Equipment, which requires that the products do not contain more than agreed levels of lead, cadmium, mercury, hexavalent chromium, polybrominated biphenyl and polybrominated diphenyl ether flame retardants.
+Added: Our products sold worldwide are subject to RoHS in Electrical and Electronic Equipment, which requires that the products do not contain more than agreed levels of lead, cadmium, mercury, hexavalent chromium, polybrominated biphenyl and polybrominated diphenyl ether flame retardants.
Our manufacturing facilities in China also obtained QC080000 certification, which is an IECQ Certificate of Conformity Hazardous Substance Process Management for European Directive 2002/95/EC requirements and a Certificate of Green Partner for Sony Green Partner Program.
4 unchanged sentences
We are subject to export and import control laws, trade regulations and other trade requirements that limit which products we sell and where and to whom we sell our products.
−Removed: Because we are committed to complying with all applicable export control laws, regulations, and requirements, we have reviewed and revised our processes and procedures to ensure that our shipments to our customers remain compliant with applicable export laws.
−Removed: As part of the enhanced process, we have also conducted extensive risk assessment on export control compliance and implemented training programs for our employees.
+Added: We are committed to complying with all applicable export control laws, regulations, and requirements, and we have implemented processes and procedures to ensure that our shipments to our customers remain compliant with applicable export laws.
+Added: As part of our export control compliance process, we have also conducted extensive risk assessment on export control compliance and implemented training programs for our employees.
Executive Officers
The following table lists the names, ages and positions of our executive officers as of August 15, 2026.
−Removed: There are no family relationships between any executive officers, except that Mr.
−Removed: Chang is a son of Dr.
+Added: There are no family relationships between any executive officers.
Name Age Position
Chang 49 Chief Executive Officer and Director
−Removed: 80 Chairman of the Board and Executive Vice President of Strategic Initiatives
Yifan Liang 62 Chief Financial Officer and Corporate Secretary
11 unchanged sentences
from Santa Clara University.
−Removed: Chang, Ph.D ., is the founder of our company and serves as our Chairman of the Board and Executive Vice President of Strategic Initiatives.
−Removed: Chang previously served as Executive Chairman from March 2023 to March 2025.
−Removed: He served as Chief Executive Officer since the founding of our company until March 2023.
−Removed: Prior to establishing our company, Dr.
−Removed: Chang served as the Executive Vice President at Siliconix Incorporated, a subsidiary of Vishay Intertechnology Inc., a global manufacturer and supplier of discrete and other power semiconductors, or Siliconix, from 1998 to 2000.
−Removed: Chang also held various management positions at Siliconix from 1987 to 1998.
−Removed: Earlier in his career, Dr.
−Removed: Chang focused on product research and development in various management positions at General Electric Company from 1974 to 1987.
−Removed: Chang received his B.S.
−Removed: in electrical engineering from National Cheng Kung University, Taiwan, and M.S.
−Removed: in electrical engineering from the University of Missouri.
Yifan Liang has been serving as our Chief Financial Officer since August 2014 and Corporate Secretary since November 2013.
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We were incorporated in Bermuda on September 27, 2000 as an exempted limited liability company.
−Removed: The address of our registered office is Clarendon House, 2 Church Street, Hamilton HM 11, Bermuda.
+Added: The address of our registered office is Richmond House, 12 Par-la-Ville Road, Hamilton HM 08, Bermuda.
The address of our U.S.
9 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.