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Consumer Durables

Hotai Motor Co., Ltd.

Company Background

Hotai Motor is the Taiwanese distributor for the Japanese auto giant Toyota Motor, selling Toyota vehicles, Lexus cars, and Hino Motors' trucks. It also sells used Toyota cars and runs an auto leasing service. Its affiliate Kuozui, a joint venture with Toyota, makes some Toyota models locally.

Hotai was founded as a trading company in 1947 by the Taiwanese tycoon Huang Lieh-ho, who also founded the food conglomerate Wei-Chuan. Hotai became a listed company in 1997.

Huang Lieh-ho's son, Huang Nan-kuang, is the company's current chairman. Huang Nan-kuang has a master's degree from Missouri State University and began his career at Wei-Chuan at its U.S. unit. He returned to Taiwan in 2009 to become Hotai's vice chairman, and was appointed chairman in 2010 following his father's death.

Business Summary

Hotai Motor Co., Ltd. engages in the distribution, assembly, and trading of vehicle and components including chassis and vehicle parts. Its business scopes include car leasing, vehicle installment payment, property insurance, vehicle air-conditioner, and spare parts business. Its Car Leasing business provides branded car leasing services. Its Property Insurance business offers fire, vehicle, goods transportation, construction, liability, injury, and health insurance services. Its Vehicle Air-Conditioner business supplies air-conditioner for buses and trucks. Its Spare Parts business covers vehicle spare parts and equipment. Its products consist of luxury, passenger, and commercial vehicles. The company was founded by Lieh Huo Huang on September 1, 1947 and is headquartered in Taipei, Taiwan.

Financial Highlights

Dec 2020 TWDUSD
Revenue229,192.19M7,783.86M
Gross Profit34,624.30M1,175.91M
Operating income20,365.79M691.66M
Income before tax19,590.09M665.32M
Net income13,848.87M470.33M
EBITDA30,023.86M1,019.67M
Diluted EPS25.340.86
Dividends Per Share----
Total Assets290,251.96M10,329.98M
Total liabilities206,366.61M7,344.53M
Total equity65,477.70M2,330.33M
Operating cash flow13,858.91M470.67M
Currency in TWDCurrency in USD

Historical Data

 Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020
Revenue 174,508.84M 179,200.54M 185,346.87M 211,886.83M 229,192.19M
Gross Profit 23,322.19M 25,543.06M 28,548.57M 31,925.82M 34,624.30M
Operating income 12,077.99M 12,709.99M 15,355.34M 17,576.54M 20,365.79M
Income before tax 12,079.91M 12,727.75M 14,188.74M 16,219.77M 19,590.09M
Net income 10,740.03M 10,115.60M 10,025.53M 11,768.81M 13,848.87M
EBITDA 20,415.75M 20,590.74M 23,358.22M 26,510.50M 30,023.86M
Diluted EPS 19.65 18.50 18.33 21.53 25.34
Dividends Per Share 12 12 12 14 --
Total Assets 179,176.61M 206,593.48M 229,385.70M 255,534.05M 290,251.96M
Total liabilities 128,597.52M 151,717.33M 171,149.74M 179,925.42M 206,366.61M
Total equity 43,106.24M 46,655.30M 49,335.72M 58,586.43M 65,477.70M
Operating cash flow 14,503.74M 16,262.05M 10,730.97M 16,707.77M 13,858.91M
 Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020
Revenue 5,410.99M 5,890.35M 6,146.58M 6,854.35M 7,783.86M
Gross Profit 723.15M 839.60M 946.74M 1,032.77M 1,175.91M
Operating income 374.50M 417.77M 509.22M 568.58M 691.66M
Income before tax 374.56M 418.36M 470.53M 524.69M 665.32M
Net income 333.01M 332.50M 332.47M 380.71M 470.33M
EBITDA 633.03M 676.82M 774.61M 857.59M 1,019.67M
Diluted EPS 0.60 0.60 0.60 0.69 0.86
Dividends Per Share 0.37 0.39 0.39 0.45 --
Total Assets 5,559.48M 6,942.33M 7,462.85M 8,524.33M 10,329.98M
Total liabilities 3,990.11M 5,098.28M 5,568.19M 6,002.11M 7,344.53M
Total equity 1,337.49M 1,567.79M 1,605.09M 1,954.37M 2,330.33M
Operating cash flow 449.71M 534.53M 355.86M 540.48M 470.67M

Valuation Measures

Dec 2020
PER25.35
ROA5.07%
ROE22.32%
Operating margin8.88%
Profit margin6.04%

Key executives

  • General Manager & Director: Chun Hsing Su
  • Head-Finance: Chun Chien Yue
  • Deputy General Manager: Chien Chou Chen
  • Director & Deputy General Manager: Issei Naganuma
  • Head-Accounting: Ting Ju Chen

Shareholders

  • Ho Yu Investment Co. Ltd. (8.8%)
  • Toyota Motor Corp. (8.1%)
  • Li Gang Enterprise Co. Ltd. (7.4%)
  • Jin Yuan Shan Investment Co., Ltd. (6.6%)
  • Cheng Sun Trading Co. Ltd. (4.4%)
  • Shen Rong Investment Co. Ltd. (3.1%)
  • Yuan To Investment Co. Ltd. (2.6%)
  • Zhi Geng Development Co. Ltd. (2.5%)
  • LI YUNG JAN /HOTAI/ (2.4%)
  • Tai Zhang Investment Co. Ltd. (2.2%)

Contact Details

Related Companies

  • Ho-Jan Investment Co., Ltd.
  • Eastern Motor Co., Ltd.
  • China Gravure Industries, Inc.
  • Hozhi Motor Co. Ltd.
  • He-zan Investment Corp.
  • Ho Tai Development Co., Ltd.
  • Hotai Leasing Corp.
  • Ho Chih Motor Co. Ltd.
  • Shanghai Ho Yu Investment Co. Ltd.
  • Chang Yuan Motor Co. Ltd.

Competitors

  • Yulon Motor Co.,Ltd
  • Bayerische Motoren Werke AG
  • Volkswagen AG Pref
  • China Motor Corporation
  • Daimler AG
  • Honda Motor Co., Ltd.
  • Hyundai Motor Company
  • Mazda Motor Corp.
Last Updated on 13 May, 2021

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