ASE Technology Holding Co., Ltd. demonstrated a rebound in revenue and net income in 2025 following modest declines in prior years, driven by growth in its Advanced Technology Manufacturing segment and geographic diversification. The company’s aggressive capital expenditure program, exceeding NT$171 billion in 2025, supports capacity expansion aligned with evolving packaging technologies such as BGA and SiP. R&D investment remains a strategic priority, representing over 5% of revenues, focusing on innovative packaging and testing solutions that underpin ASE’s competitive moat. While the balance sheet shows solid liquidity with a current ratio above 1.2, capital intensity generates dependency on external funding, exposing ASE to cyclical semiconductor market risks and foreign exchange volatility. Dividend policy balances shareholder returns with substantial reinvestment needs.