HIWIN Technologies Corp.

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Company Background

Hiwin Technologies is a major Taiwanese manufacturer of machine tool parts. It is strong in such products as ball screws, used to make machine tools move smoothly, and linear guideways, used for accurate positioning. Hiwin is considered one of the world's top three producers of ball screws. It has locations in 12 countries and regions, including Taiwan. Founder and Chairman Eric Chuo used to work at a Taiwanese bank and handled loans for corporate customers before starting his own consulting business. He established Hiwin in 1989 based on a failing machine parts maker he acquired. In the 1990s, Hiwin began an overseas expansion push that included takeovers of German and Israeli parts makers. In 2013, it began supplying products to Japan's Toyota Motor group, taking advantage of its price competitiveness.

That same year, Hiwin began manufacturing industrial robots, focusing on demand for automated production lines at factories.

Hiwin established a local subsidiary in the Chinese city of Suzhou, Jiangsu Province, in 2014 to gain access to the mainland market. The company plans to start building a factory there at the end of 2015.

Hiwin also plans to build a factory in the Taiwanese city of Taichung, where it is headquartered.

In 2014, the company announced it will set up a research and development center for the precision machine industry with Taiwan's National Tsing Hua University.

It will at least spend 200 million New Taiwan dollars ($6.1 million) over the next decade to nurture human resources.

Business Summary

HIWIN Technologies Corp. engages in the research and development,manufacture, and sale of motion control products. It offers linear guideway, ball screws, industrial robots, rotary tables, reducers, precision bearings, and medical equipment. The company was founded by Yung Tsai Cho on October 11, 1989 and is headquartered in Taichung, Taiwan.

Financial Highlights

Dec 2021	TWD	USD
Revenue	27,265.16M	976.13M
Gross Profit	9,418.71M	337.20M
Operating income	5,115.58M	183.14M
Income before tax	4,433.20M	158.71M
Net income	3,532.23M	126.45M
EBITDA	7,351.78M	263.20M
Diluted EPS	10.24	0.36
Dividends Per Share	4.41	0.15
Total Assets	51,031.81M	1,844.50M
Total liabilities	20,564.70M	743.29M
Total equity	30,280.28M	1,094.45M
Operating cash flow	8,178.67M	292.80M
	Currency in TWD	Currency in USD

Historical Data

TWD | USD

	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021
Revenue	21,164.76M	29,333.12M	20,209.79M	21,266.65M	27,265.16M
Gross Profit	7,337.44M	11,302.74M	6,382.51M	5,378.78M	9,418.71M
Operating income	3,237.08M	6,423.91M	2,402.31M	1,742.62M	5,115.58M
Income before tax	2,788.73M	6,066.34M	2,193.99M	2,269.77M	4,433.20M
Net income	2,738.01M	5,392.25M	1,865.31M	1,929.73M	3,532.23M
EBITDA	4,819.03M	8,241.32M	4,652.56M	4,070.96M	7,351.78M
Diluted EPS	8.47	16.46	5.56	5.80	10.24
Dividends Per Share	3.04	6.29	1.66	1.92	4.41
Total Assets	37,573.55M	48,892.84M	48,331.85M	48,037.78M	51,031.81M
Total liabilities	20,973.70M	24,454.44M	24,677.37M	20,648.38M	20,564.70M
Total equity	16,293.09M	24,180.45M	23,743.25M	27,562.12M	30,280.28M
Operating cash flow	6,567.76M	5,153.85M	1,403.13M	5,258.30M	8,178.67M

	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021
Revenue	695.68M	972.76M	653.76M	722.26M	976.13M
Gross Profit	241.18M	374.82M	206.46M	182.67M	337.20M
Operating income	106.40M	213.03M	77.71M	59.18M	183.14M
Income before tax	91.66M	201.17M	70.97M	77.08M	158.71M
Net income	89.99M	178.82M	60.34M	65.53M	126.45M
EBITDA	158.40M	273.30M	150.50M	138.25M	263.20M
Diluted EPS	0.27	0.54	0.18	0.19	0.36
Dividends Per Share	0.09	0.20	0.05	0.06	0.15
Total Assets	1,262.61M	1,590.68M	1,612.29M	1,709.65M	1,844.50M
Total liabilities	704.79M	795.60M	823.21M	734.87M	743.29M
Total equity	547.51M	786.68M	792.04M	980.92M	1,094.45M
Operating cash flow	215.88M	170.91M	45.39M	178.58M	292.80M

Valuation Measures

Dec 2021
PER	29.57
ROA	7.13%
ROE	12.21%
Operating margin	18.76%
Profit margin	12.95%

Key executives

General Chief Executive Officer & Director: Yung Tsai Cho
General Manager & Director: Hui Ching Tsai
Senior Deputy GM-Finance & Head-Accounting: Yi Feng Lin
Deputy General Manager: Hsien Te Sung
Deputy General Manager-Marketing: Yan Chi Peng

Shareholders

Hiwin Investment Corp. (6.5%)
LEE SHUN CHIN (4.2%)
CHUO YUN TSAI (4.1%)
Cathay Life Insurance Co., Ltd. (Invt Port) (2.5%)
Nan Shan Life Insurance Co., Ltd. (2.4%)
The Vanguard Group, Inc. (2.4%)
Fidelity Management & Research Co. LLC (2.2%)
Lazard Asset Management LLC (1.9%)
CHUO WEN HEN (1.9%)
Fidelity Management & Research (Hong Kong) Ltd. (1.5%)

Contact Details

Website:http://www.hiwin.tw
Address: 7 Jingke Road, Wenshan Area, Taichung, 408 52, Taiwan
Phone: +886.4.23594510

Related Companies

HIWIN (Schweiz) GmbH
HIWIN Corp. (Japan)
HIWIN Technologies China Corp.
Eterbright Solar Corp.
Shenzhen Hiwin Electrical & Mechanical Co. Ltd.
Hiwin China Co. Ltd.
HIWIN Korea Corp.
HIWIN Singapore Pte Ltd.
Luren Precision Co., Ltd.
HIWIN Corp.
HIWIN GmbH

Competitors

ABB Ltd.
Fanuc Corporation
Yaskawa Electric Corporation
KUKA AG
Chieftek Precision Co., Ltd.
TBI MOTION TECHNOLOGY CO LTD

Last Updated on 4 Oct, 2022