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Process Industries

Far Eastern New Century Corp.

Company Background

Far Eastern New Century is a Taiwanese textile maker founded by Shanghai-born entrepreneur Hsu Yu-ziang in 1937 in the Chinese city.

The company began by specializing in knitted fabric, relocating to Taiwan in 1949 when the Nationalist government retreated to the island following its defeat in China's civil war.

In recent years, Far Eastern has become best known for textiles made from recycled plastic bottles. It is also working on "smart" clothing that monitors the wearer's health.

Chairman Douglas Hsu Tong, the founder's son, has a master's degree in economics from Columbia University in New York. The Hsu family has diversified into other businesses, including banking, telecommunications, retailing and tourism.

Business Summary

Far Eastern New Century Corp. engages in the following businesses: petrochemical, chemical fiber, textile, and telecommunications. Its Petrochemical division produces pure terephthalic acid products. Its Chemical Fiber division provides polyester polyethylene terephthalate and polyester fiber products. Its Textile division supplies spinning yarns, knitted fabrics, and garments. Its Telecommunications division offers mobile commerce, cloud platforms, fiber-optic internet access, and digital services. It also involves in the development of real estate, and investment businesses. The company was founded by Yu Ziang Hsu in 1945 and is headquartered in Taipei, Taiwan.

Financial Highlights

Dec 2021 TWDUSD
Revenue238,806.77M8,549.61M
Gross Profit42,978.52M1,538.69M
Operating income11,425.20M409.03M
Income before tax10,605.53M379.69M
Net income9,684.58M346.72M
EBITDA38,975.96M1,395.39M
Diluted EPS1.930.06
Dividends Per Share1.500.05
Total Assets635,327.58M22,963.37M
Total liabilities365,912.66M13,225.60M
Total equity206,048.73M7,447.45M
Operating cash flow37,042.67M1,326.17M
Currency in TWDCurrency in USD

Historical Data

 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 217,847.50M 228,662.48M 250,147.14M 206,769.83M 238,806.77M
Gross Profit 47,869.54M 41,945.33M 41,335.47M 36,935.94M 42,978.52M
Operating income 15,376.21M 14,741.97M 13,722.19M 9,924.60M 11,425.20M
Income before tax 12,777.95M 14,830.97M 12,665.77M 10,598.53M 10,605.53M
Net income 8,066.13M 12,028.29M 10,732.66M 8,062.69M 9,684.58M
EBITDA 35,692.04M 35,632.41M 39,784.00M 35,677.35M 38,975.96M
Diluted EPS 1.61 2.39 2.14 1.61 1.93
Dividends Per Share 1.20 1.80 1.50 1.35 1.50
Total Assets 516,766.28M 565,589.42M 576,079.69M 616,955.27M 635,327.58M
Total liabilities 261,227.18M 297,859.98M 304,758.51M 347,530.63M 365,912.66M
Total equity 194,360.38M 203,535.13M 204,522.28M 204,029.18M 206,048.73M
Operating cash flow 30,162.74M 20,420.71M 42,925.53M 41,890.96M 37,042.67M
 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 7,160.68M 7,583.03M 8,092.04M 7,022.35M 8,549.61M
Gross Profit 1,573.48M 1,391.01M 1,337.16M 1,254.42M 1,538.69M
Operating income 505.41M 488.88M 443.90M 337.06M 409.03M
Income before tax 420.01M 491.83M 409.72M 359.94M 379.69M
Net income 265.13M 398.88M 347.19M 273.82M 346.72M
EBITDA 1,173.20M 1,181.66M 1,286.97M 1,211.68M 1,395.39M
Diluted EPS 0.05 0.07 0.06 0.05 0.06
Dividends Per Share 0.03 0.05 0.04 0.04 0.05
Total Assets 17,365.33M 18,400.93M 19,217.39M 21,957.26M 22,963.37M
Total liabilities 8,778.23M 9,690.60M 10,166.41M 12,368.51M 13,225.60M
Total equity 6,531.25M 6,621.82M 6,822.64M 7,261.34M 7,447.45M
Operating cash flow 991.45M 677.20M 1,388.60M 1,422.70M 1,326.17M

Valuation Measures

Dec 2021
PER15.08
ROA1.54%
ROE4.72%
Operating margin4.78%
Profit margin4.05%

Key executives

  • President: Cheng Yue Cheng
  • Chief Operating Officer: Yuan Chen Li
  • Chief Financial Officer & Deputy General Manager: Chien Cheng Wang
  • Director & First Senior Executive Vice President: Hsiao Yi Wang
  • Vice Chief Auditor: Mark Lu

Shareholders

  • Asia Cement Corp. (25.3%)
  • Asia Eastern University of Science & Technology (4.8%)
  • Hsu Yuan Chih Medical Foundation /Fareastern/ (3.6%)
  • Hsu Yuean Chih Memorial Foundation (3.4%)
  • University of Yuan Ze (2.7%)
  • Cathay Securities Investment Trust Co., Ltd. (2.5%)
  • The Vanguard Group, Inc. (2.3%)
  • Nan Shan Life Insurance Co., Ltd. (2.2%)
  • HSU HSU TUNG (1.7%)
  • Fubon Life Insurance Co., Ltd. (1.5%)

Contact Details

  • Website:http://www.fenc.com
  • Address: 36/F, Taipei Metro Tower, 207, Section 2, Tunhwa South Road, Taipei, 101, Taiwan
  • Phone: +886.2.27338000

Related Companies

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  • Malaysia Garment Manufacturers Pte Ltd.
  • Yuan Hsin Digital Payment Co., Ltd.
  • Far Eastern Resources Development Co., Ltd.
  • Suzhou An He Ltd.
  • PET Far Eastern (Holding) Ltd.
  • Far Eastern New Century Corp. Employees Retirement Fund
  • Shanghai Far Eastern It Corp.
  • Yuan Tong Investment Co., Ltd.
  • An Ho Garment Co., Ltd.
  • Far Eastern Polytex (Holding) Ltd.
  • Far Eastern Textile Ltd.
  • Oriental Petrochemical (Taiwan) Co., Ltd.
  • Far Eastern Electronic Toll Collection Co., Ltd.
  • Far Eastern Petrochemicals Ltd.
  • Oriental Securities Co., Ltd.
  • FEDP (Holding) Ltd.
  • Yuan Tung Investment Corp.
  • Ting Yuan International Investment Corp.
  • Yuan Dong Resources Development Corp.
  • Far Eastern Construction Co., Ltd.
  • Yuan Ding Investment Co., Ltd. (Taiwan)
  • Ding Yuan International Investment Corp.
  • Kai Yuang Investment Corp.
  • Far Eastern Investment Corp.
  • Yuang Ding Investment Corp.
  • Far Eastern Investment (Holding) Ltd.

Competitors

  • Asia Pacific Telecom Co., Ltd.
  • Alpek, S.A.B. de C.V. Class A
  • Formosa Chemicals & Fibre Corporation
  • HUVIS CORPORATION
  • Unifi, Inc.
  • Shinkong Textile Co., Ltd.
  • Boryszew S.A.
  • New Asia Construction & Development Corp.
Last Updated on 4 Oct, 2022

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