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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 2019 TWDUSD
Revenue211,886.83M6,854.35M
Gross Profit31,925.82M1,032.77M
Operating income17,576.54M568.58M
Income before tax16,219.77M524.69M
Net income11,768.81M380.71M
EBITDA26,510.50M857.59M
Diluted EPS21.530.69
Dividends Per Share140.45
Total Assets255,534.05M8,524.33M
Total liabilities179,925.42M6,002.11M
Total equity58,586.43M1,954.37M
Operating cash flow16,707.77M540.48M
Currency in TWDCurrency in USD

Historical Data

 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 160,579.76M 174,508.84M 179,200.54M 185,346.87M 211,886.83M
Gross Profit 21,176.93M 23,322.19M 25,543.06M 28,548.57M 31,925.82M
Operating income 9,120.54M 12,077.99M 12,709.99M 15,355.34M 17,576.54M
Income before tax 10,742.62M 12,079.91M 12,727.75M 14,188.74M 16,219.77M
Net income 9,776.59M 10,740.03M 10,115.60M 10,025.53M 11,768.81M
EBITDA 18,049.42M 20,415.75M 20,590.74M 23,358.22M 26,510.50M
Diluted EPS 17.89 19.65 18.50 18.33 21.53
Dividends Per Share 12 12 12 12 14
Total Assets 163,632.31M 179,176.61M 206,593.48M 229,385.70M 255,534.05M
Total liabilities 117,855.35M 128,597.52M 151,717.33M 171,149.74M 179,925.42M
Total equity 39,364.13M 43,106.24M 46,655.30M 49,335.72M 58,586.43M
Operating cash flow 16,045.49M 14,503.74M 16,262.05M 10,730.97M 16,707.77M
 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 5,056.98M 5,410.99M 5,890.35M 6,146.58M 6,854.35M
Gross Profit 666.90M 723.15M 839.60M 946.74M 1,032.77M
Operating income 287.22M 374.50M 417.77M 509.22M 568.58M
Income before tax 338.30M 374.56M 418.36M 470.53M 524.69M
Net income 307.88M 333.01M 332.50M 332.47M 380.71M
EBITDA 568.41M 633.03M 676.82M 774.61M 857.59M
Diluted EPS 0.56 0.60 0.60 0.60 0.69
Dividends Per Share 0.37 0.37 0.39 0.39 0.45
Total Assets 4,981.65M 5,559.48M 6,942.33M 7,462.85M 8,524.33M
Total liabilities 3,588.00M 3,990.11M 5,098.28M 5,568.19M 6,002.11M
Total equity 1,198.40M 1,337.49M 1,567.79M 1,605.09M 1,954.37M
Operating cash flow 505.30M 449.71M 534.53M 355.86M 540.48M

Valuation Measures

Dec 2019
PER31.69
ROA4.85%
ROE21.80%
Operating margin8.29%
Profit margin5.55%

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%)
  • Zhi Geng Development Co. Ltd. (2.5%)
  • Yuan To Investment Co. Ltd. (2.5%)
  • LI YUNG JAN /HOTAI/ (2.4%)
  • Ming Yi Investment Co. Ltd. (2.4%)

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 7 Aug, 2020

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