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Electronic Technology


  • 9.90 TWD
  • +0.09
  • +0.92%
  • Taiwan
    Feb 19, 2019
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Company Background

Innolux is Taiwan's leading display panel manufacturer, with assets totaling over $15 billion. It is the world's third-largest flat-panel maker after South Korea's Samsung and LG.

The company manufactures a wide range of LCD panels and touch panel screens used in TVs, desktop computers, laptops, and medical- and automotive-use panels. Innolux employs more than 95,000 people worldwide. Its major plants are in the Taiwanese cities of Zhunan and Tainan. The company also operates module plants in mainland China.

Innolux is looking to grow and has been expanding production capacity. It plans to invest about $3 billion in a sixth-generation LCD plant producing smartphones screens in the southern Taiwanese city of Kaohsiung, hoping to increase its competitiveness against rivals from South Korea and China. The facility will be used to supply a panel factory that employs low-temperature polysilicon technology -- used in Apple's iPhones -- and expected to enter production in late 2016.

Innolux also focuses on LCD panels for 4K TVs, which boast image resolutions four times finer than full high-definition TVs.

A subsidiary of Foxconn Technology Group in Taiwan, Innolux was established in 2003. It merged with Chi Mei Optoelectronics and Toppoly Optoelectronics in 2010, in what was the industry's largest-ever merger. Chimei Innolux was renamed Innolux in 2012 to differentiate it from the Chimei brand.

Chairman Tuan Hsing-chien is considered an LCD industry pioneer. Before joining Innolux, he founded Taiwan's first thin-film transistor LCD company, Unipac Optoelectronics. Unipac later merged with Acer Display Technology to form AU Optronics, an Innolux rival in Taiwan.

Business Summary

Innolux Corp. is engaged in the manufacture and sale of thin-film-transistor liquid-crystal display and touch panel modules. It offers television, desktop monitors and notebook computer, audio and video, and mobile panels. It also offers glass, film, and one glass capacitive touch panels. The company was founded on January 14, 2003 and is headquartered in Miaoli, Taiwan.

Financial Highlights

Dec 2018 TWDUSD
Gross Profit26,800M888.75M
Operating income26,800M888.75M
Income before tax----
Net income2,200M72.95M
Diluted EPS----
Dividends Per Share----
Total Assets----
Total liabilities----
Total equity----
Operating cash flow----
Currency in TWDCurrency in USD

Historical Data

 Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018
Revenue 428,661.89M 364,132.98M 287,089.27M 329,174.40M 279,400M
Gross Profit 49,832.78M 46,412.12M 25,902.11M 68,603.33M 26,800M
Operating income 28,173.39M 22,430.70M 6,413.24M 47,022.20M 26,800M
Income before tax 22,468.52M 14,645.60M 4,804.66M 48,666.33M --
Net income 21,676.75M 10,815.59M 1,870.68M 37,028.60M 2,200M
EBITDA 89,059.77M 75,988.70M 47,820.65M 80,575.52M --
Diluted EPS 2.28 1.07 0.19 3.63 --
Dividends Per Share 0.70 0.19 0.09 0.80 --
Total Assets 482,516.55M 387,442.33M 371,479.54M 414,858.75M --
Total liabilities 253,345.11M 155,177.61M 145,473.18M 150,533.71M --
Total equity 227,690.06M 232,264.72M 226,006.36M 264,325.04M --
Operating cash flow 101,035.67M 80,132.10M 33,383.29M 82,921.06M --
 Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018
Revenue 14,145.75M 11,467.28M 8,901.77M 10,820.02M 9,265.62M
Gross Profit 1,644.47M 1,461.61M 803.14M 2,255.00M 888.75M
Operating income 929.71M 706.38M 198.85M 1,545.62M 888.75M
Income before tax 741.45M 461.21M 148.97M 1,599.67M --
Net income 715.32M 340.60M 58.00M 1,217.13M 72.95M
EBITDA 2,938.95M 2,393.03M 1,482.77M 2,648.53M --
Diluted EPS 0.07 0.03 0.00 0.11 --
Dividends Per Share 0.02 0.00 0.00 0.02 --
Total Assets 15,268.54M 11,795.36M 11,526.25M 13,940.85M --
Total liabilities 8,016.74M 4,724.25M 4,513.73M 5,058.51M --
Total equity 7,204.92M 7,071.10M 7,012.51M 8,882.33M --
Operating cash flow 3,334.15M 2,523.52M 1,035.11M 2,725.63M --

Valuation Measures

Dec 2018
Operating margin9.59%
Profit margin0.78%

Key executives

  • Chairman & Chief Executive Officer: Chih Chao Wang
  • President, Chief Operating Officer & Spokesman: Shiao Chih-Hung
  • Head-Finance Department & Deputy Spokesman: Chien Lang Lo
  • Director & Executive Vice President: Chin Lung Ting
  • VP & GM, Product: Chu-Hsiang Yang


  • Chi Mei Corp. (5.7%)
  • Dimensional Fund Advisors LP (3.2%)
  • Hon Hai Precision Industry Co., Ltd. (3.2%)
  • The Vanguard Group, Inc. (2.9%)
  • BlackRock Fund Advisors (2.4%)
  • Norges Bank Investment Management (1.2%)
  • APG Asset Management NV (0.9%)
  • BlackRock Japan Co., Ltd. (0.8%)
  • BlackRock Advisors (UK) Ltd. (0.6%)
  • Acadian Asset Management LLC (0.5%)

Contact Details

  • Website:
  • Address: No. 160 Kesyue Road, Hsinchu Science Park, Miaoli, 35053, Taiwan
  • Phone: +886.37.58.6600

Related Companies

  • Ningbo Innolux Technology Ltd.
  • Ningbo Chi Mei Optoelectronics Ltd.
  • Foshan Innolux Optoelectronics Ltd.
  • Shanghai Innolux Optoelectronics Ltd.
  • Yuan Chi Investment Co. Ltd. /Innolux/
  • Innolux Corp. /Tree Valley Branch/
  • Innolux Corp.- Fab Shanghai
  • Golden Achiever International Ltd.
  • Bright Information Holding Ltd.
  • Gold Union Investments Ltd.
  • Keyway Investment Management Ltd.
  • Chan Shen Science & Technology Investment Co. Ltd.
  • TPO Displays Sweden AB
  • Chi Mei Energy Corp.
  • Chi Mei Optoelectronics Europe BV
  • Chi Mei Optoelectronics Japan Co., Ltd.
  • Innolux Hong Kong Holding Ltd
  • Chun Yi Investment Co. Ltd. /Entire/
  • Leadtek Global Group Ltd.
  • Landmark International Ltd.
  • Chi Mei Optoelectronics (Singapore) Pte Ltd.
  • Innolux Holding Ltd.
  • Toppoly Optoelectronics (BVI) Ltd.


  • Au Optronics Corp.
  • LG Display Co., Ltd
  • Samsung Electronics Co., Ltd.
  • INVENIA Co., Ltd.
  • Mildex Optical Inc.
Last Updated on 19 Feb, 2019

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