46 unchanged sentences
SOI technology uses a silicon-insulator-silicon layered substrate in place of conventional silicon substrates in semiconductor manufacturing.
−Removed: SOI substrates cost less than GaAs substrates and, although their performance is not as robust as GaAs substrates in
−Removed: terms of power consumption, heat generation and speed, they became acceptable in mobile phones and other applications that were previously dominated by GaAs substrates.
+Added: SOI substrates cost less than GaAs substrates and, although their performance is not as robust as GaAs substrates in terms of power consumption, heat generation and speed, they became acceptable in mobile phones and other applications that were previously dominated by GaAs substrates.
The adoption of SOI resulted in decreased GaAs wafer demand, and decreased revenue.
18 unchanged sentences
During periods of decreased demand, we have underutilized our manufacturing lines.
−Removed: If we are unable to improve utilization levels at our facilities during periods of decreased demand and correctly manage capacity, the fixed expense levels will have an adverse effect on our business, financial condition and results of operations.
+Added: If we are unable to improve utilization levels at our facilities during periods of decreased demand and correctly manage capacity, the fixed
+Added: expense levels will have an adverse effect on our business, financial condition and results of operations.
For example, in the three months ended September 30, 2023, our revenue dropped to $17.4 million and our gross margin was only 10.7%.
4 unchanged sentences
If we receive fewer customer orders than forecasted or if our customers delay or cancel orders, we may not be able to reduce our manufacturing costs in the short-term and our gross margins would be negatively affected.
−Removed: lead times required by our customers are shrinking, which reduces our ability to forecast orders and properly balance our capacity utilization.
+Added: In addition, lead times required by our customers are shrinking, which reduces our ability to forecast orders and properly balance our capacity utilization.
Global economic and political conditions, including trade tariffs, import-export restrictions, and other restrictions, may have a negative impact on our business and financial results.
3 unchanged sentences
Approximately 6% of our revenue derives from importing our wafers into the United States.
−Removed: In the first half of 2024 we paid approximately $197,000 in tariffs.
+Added: In the first three quarters of 2024 we paid approximately $569,000 in tariffs.
In the years ended December 31, 2023, 2022 and 2021 we paid approximately $1.0 million, $3.3 million and $1.3 million, respectively, in tariffs.
22 unchanged sentences
Delays in our customers’ ability to obtain such financing, or the unavailability of such financing, would adversely affect our product sales and revenue and, therefore, harm our business and operating results.
−Removed: We cannot predict the timing, duration of or effect on our business of any future economic downturn or the timing or strength of any subsequent recovery.
+Added: We cannot predict
+Added: the timing, duration of or effect on our business of any future economic downturn or the timing or strength of any subsequent recovery.
COVID-19 or other contagious diseases may affect our business operations and financial performance.
5 unchanged sentences
If there is a renewed surge of the COVID-19 pandemic in cities in which our PRC subsidiaries and PRC joint ventures are located, the Chinese government may require these companies to close again.
−Removed: If one or more of our key suppliers is required to close for an
−Removed: extended period, we might not have enough raw material inventories to continue manufacturing operations.
+Added: If one or more of our key suppliers is required to close for an extended period, we might not have enough raw material inventories to continue manufacturing operations.
In addition, travel restrictions between China and the U.S.
27 unchanged sentences
We purchase a portion of the materials produced by these companies for our use and they sell the remainder of their production to third parties.
−Removed: We consolidate the companies in which we have a majority or controlling financial interest and employ equity accounting for the companies in which we have a smaller ownership
+Added: We consolidate the companies in which we have a majority or controlling financial interest and employ equity accounting for the companies in which we have a smaller ownership interest.
Several of these companies occupy space within larger facilities owned and/or operated by one of the other investment partners.
20 unchanged sentences
Although the relocation is completed and we are in volume production at the new sites, unforeseen manufacturing issues and restrictions at the new sites could occur.
−Removed: Problems could occur as we add capacity or comply with strict guidelines as customers perform their qualifications.
+Added: Problems could occur as we add capacity or comply
+Added: with strict guidelines as customers perform their qualifications.
All of this will require us to continue to diligently address the many details that arise at each of our new sites.
6 unchanged sentences
To reduce air pollution in Beijing, the Chinese government has sometimes limited the construction of new, or expansion of existing, facilities by manufacturing companies in the Beijing area or required mandatory factory shutdowns.
−Removed: example, in the first quarter of 2018, over 300 manufacturing companies, including Tongmei, were intermittently shut down by the local government for a total of ten days from February 27 to March 31 due to severe air pollution.
+Added: For example, in the first quarter of 2018, over 300 manufacturing companies, including Tongmei, were intermittently shut down by the local government for a total of ten days from February 27 to March 31 due to severe air pollution.
If the government applies restrictions to us or requires mandatory factory shutdowns in the future, then such restrictions or shutdowns could have an adverse impact on our results of operations and our financial condition.
22 unchanged sentences
For example, during 2019 widespread political and economic instability and trade war concerns resulted in a general slowdown and our revenue decreased significantly.
−Removed: Additionally, in the second half of 2016, manufacturers producing and selling passive optical network devices known as EPONs and GPONs experienced a slowdown in demand resulting in surplus inventory on hand.
+Added: Additionally, in the second half of 2016, manufacturers producing and selling passive optical network devices known as EPONs and GPONs experienced a slowdown in demand
+Added: resulting in surplus inventory on hand.
The slowdown persisted until late in 2017.
33 unchanged sentences
Computer programmers and hackers also may be able to develop and deploy viruses, worms, and other malicious software programs that attack our information technology infrastructure and demand a ransom payment.
−Removed: The costs to us to eliminate or alleviate cyber or
−Removed: other security problems, bugs, viruses, worms, malicious software programs and security vulnerabilities could be significant, and our efforts to address these problems may not be successful and could result in interruptions and delays that may impede our sales, manufacturing, distribution, accounting or other critical functions.
+Added: The costs to us to eliminate or alleviate cyber or other security problems, bugs, viruses, worms, malicious software programs and security vulnerabilities could be significant, and our efforts to address these problems may not be successful and could result in interruptions and delays that may impede our sales, manufacturing, distribution, accounting or other critical functions.
Breaches of our security measures could create system disruptions or cause shutdowns or result in the accidental loss, inadvertent disclosure or unapproved dissemination of proprietary information or sensitive or confidential data about us.
54 unchanged sentences
Defects in our products could cause us to incur higher manufacturing costs and suffer product returns and additional service expenses, all of which could adversely impact our operating results.
−Removed: If new products developed by us contain defects when released, our customers may be dissatisfied and
−Removed: we may suffer negative publicity or customer claims against us, lose sales or experience delays in market acceptance of our new products.
+Added: If new products developed by us contain defects when released, our customers may be dissatisfied and we may suffer negative publicity or customer claims against us, lose sales or experience delays in market acceptance of our new products.
Our substrate products have a long qualification cycle that makes it difficult to forecast revenue from new customers or for new products sold to existing customers.
31 unchanged sentences
Actions to reduce our costs may be insufficient to align our structure with prevailing business conditions.
−Removed: We may be required to undertake additional cost-cutting measures, and may be unable to invest in marketing, research and development and engineering at
−Removed: the levels we believe are necessary to maintain our competitive position.
+Added: We may be required to undertake additional cost-cutting measures, and may be unable to invest in marketing, research and development and engineering at the levels we believe are necessary to maintain our competitive position.
Our failure to make these investments could seriously harm our business.
21 unchanged sentences
We might invest in additional joint venture companies in order to remain competitive in our marketplace and ensure a supply of critical raw materials.
−Removed: However, we may not be able to identify additional complementary joint venture opportunities or, even once opportunities are identified, we may not be able to reach agreement on the terms of the business venture with the other investment partners.
+Added: However, we may not be able to identify additional complementary joint
+Added: venture opportunities or, even once opportunities are identified, we may not be able to reach agreement on the terms of the business venture with the other investment partners.
Further, geopolitical tensions and trade wars could result in government agencies blocking such new joint ventures.
73 unchanged sentences
The initial tariff rate was 10% and subsequently was increased to 25%.
−Removed: In the first half of 2024 we paid approximately $ 197 ,000 in tariffs.
+Added: In the first three quarters of 2024 we paid approximately $ 569,000 in tariffs.
In the years 2023, 2022 and 2021, we paid approximately $1.0 million, $3.3 million and $1.3 million, respectively, in tariffs.
380 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.