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Producer Manufacturing

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 2019 TWDUSD
Revenue250,147.14M8,092.04M
Gross Profit41,335.47M1,337.16M
Operating income13,722.19M443.90M
Income before tax12,665.77M409.72M
Net income10,732.66M347.19M
EBITDA39,784.00M1,286.97M
Diluted EPS2.140.06
Dividends Per Share1.500.04
Total Assets576,079.69M19,217.39M
Total liabilities304,758.51M10,166.41M
Total equity204,522.28M6,822.64M
Operating cash flow42,925.53M1,388.60M
Currency in TWDCurrency in USD

Historical Data

 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 217,948.75M 215,856.47M 217,847.50M 228,662.48M 250,147.14M
Gross Profit 48,063.63M 48,810.14M 47,869.54M 41,945.33M 41,335.47M
Operating income 14,395.95M 14,449.11M 15,376.21M 14,741.97M 13,722.19M
Income before tax 16,978.90M 14,086.17M 12,777.95M 14,830.97M 12,665.77M
Net income 8,034.69M 6,307.78M 8,066.13M 12,028.29M 10,732.66M
EBITDA 32,454.14M 33,591.63M 35,692.04M 35,632.41M 39,784.00M
Diluted EPS 1.60 1.26 1.61 2.39 2.14
Dividends Per Share 1 0.80 1.20 1.80 1.50
Total Assets 518,765.12M 513,460.15M 516,766.28M 565,589.42M 576,079.69M
Total liabilities 258,368.11M 261,267.50M 261,227.18M 297,859.98M 304,758.51M
Total equity 197,251.56M 190,886.45M 194,360.38M 203,535.13M 204,522.28M
Operating cash flow 36,911.81M 34,410.29M 30,162.74M 20,420.71M 42,925.53M
 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 6,863.64M 6,693.05M 7,160.68M 7,583.03M 8,092.04M
Gross Profit 1,513.62M 1,513.45M 1,573.48M 1,391.01M 1,337.16M
Operating income 453.35M 448.02M 505.41M 488.88M 443.90M
Income before tax 534.70M 436.76M 420.01M 491.83M 409.72M
Net income 253.02M 195.58M 265.13M 398.88M 347.19M
EBITDA 1,022.04M 1,041.57M 1,173.20M 1,181.66M 1,286.97M
Diluted EPS 0.05 0.03 0.05 0.07 0.06
Dividends Per Share 0.03 0.02 0.03 0.05 0.04
Total Assets 15,793.37M 15,931.61M 17,365.33M 18,400.93M 19,217.39M
Total liabilities 7,865.80M 8,106.59M 8,778.23M 9,690.60M 10,166.41M
Total equity 6,005.16M 5,922.81M 6,531.25M 6,621.82M 6,822.64M
Operating cash flow 1,162.42M 1,066.95M 991.45M 677.20M 1,388.60M

Valuation Measures

Dec 2019
PER13.90
ROA1.88%
ROE5.26%
Operating margin5.48%
Profit margin4.29%

Key executives

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

Shareholders

  • Asia Cement Corp. (25.3%)
  • Oriental Institute of Technology (4.8%)
  • Hsu Yuan Chih Medical Foundation /Fareastern/ (3.6%)
  • Hsu Yuean Chih Memorial Foundation (3.4%)
  • Nan Shan Life Insurance Co., Ltd. (2.8%)
  • University of Yuan Ze (2.7%)
  • The Vanguard Group, Inc. (2.6%)
  • Cathay Life Insurance Co., Ltd. (Invt Port) (1.9%)
  • China Life Insurance Co., Ltd. (Invt Port) (1.8%)
  • HSU HSU TUNG (1.7%)

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

  • APG Polytech USA Holdings, Inc.
  • Suzhou An He Ltd.
  • PET Far Eastern (Holding) Ltd.
  • Far Eastern New Century Corp. Employees Retirement Fund
  • Yuan Cheng Human Resources Consultant Corp.
  • Shanghai Far Eastern It Corp.
  • Far Eastern Industries Wuxi Ltd.
  • Oriental Industries Suzhou Ltd.
  • Far Eastern Dyeing & Finishing Suzhou Ltd.
  • Pet Far Eastern M Sdn. Bhd.
  • Sino Belgium Beer Suzhou Ltd.
  • An Ho Garment Co., Ltd.
  • Far Eastern Polytex (Holding) Ltd.
  • Oriental Petrochemical (Taiwan) Co. Ltd.
  • Far Eastern Petrochemicals Ltd.
  • Oriental Securities Co., Ltd.
  • Far Eastern General Contractor, Inc.
  • Far Eastern Apparel Suzhou Co. 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

  • Chunghwa Telecom Co., Ltd
  • Asia Pacific Telecom Co., Ltd.
  • Taiwan Mobile Co., Ltd.
  • HUVIS CORPORATION
  • Alpek, S.A.B. de C.V. Class A
  • Formosa Chemicals & Fibre Corporation
  • Coremax Corporation
  • Boryszew S.A.
Last Updated on 20 Oct, 2020

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