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Electronic Technology

Innolux Corp.

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 2021 TWDUSD
Gross Profit91,380.78M3,271.55M
Operating income62,713.07M2,245.21M
Income before tax62,345.96M2,232.07M
Net income57,534.46M2,059.81M
Diluted EPS5.900.21
Dividends Per Share2.100.07
Total Assets467,519.59M16,898.09M
Total liabilities162,722.65M5,881.47M
Total equity304,347.40M11,000.37M
Operating cash flow102,287.66M3,662.04M
Currency in TWDCurrency in USD

Historical Data

 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 329,174.40M 279,376.11M 251,971.20M 269,911.05M 350,076.69M
Gross Profit 68,603.33M 26,677.16M 2,857.72M 23,703.48M 91,380.78M
Operating income 47,022.20M 4,835.29M -19,933.89M 1,811.79M 62,713.07M
Income before tax 48,666.33M 6,125.56M -16,832.72M 2,380.57M 62,345.96M
Net income 37,028.60M 2,222.76M -17,442.99M 1,636.14M 57,534.46M
EBITDA 80,575.52M 40,702.70M 15,171.31M 37,352.11M 98,985.93M
Diluted EPS 4.01 0.24 -1.95 0.18 5.90
Dividends Per Share 0.88 0.06 0.11 0.44 2.10
Total Assets 414,858.75M 411,919.60M 369,764.34M 379,559.83M 467,519.59M
Total liabilities 150,533.71M 156,928.89M 137,654.31M 141,992.79M 162,722.65M
Total equity 264,325.04M 254,990.70M 231,927.70M 237,369.66M 304,347.40M
Operating cash flow 82,921.06M 53,581.33M 14,638.94M 22,540.18M 102,287.66M
 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 10,820.02M 9,264.83M 8,151.05M 9,166.76M 12,533.23M
Gross Profit 2,255.00M 884.68M 92.44M 805.02M 3,271.55M
Operating income 1,545.62M 160.35M -644.84M 61.53M 2,245.21M
Income before tax 1,599.67M 203.13M -544.52M 80.84M 2,232.07M
Net income 1,217.13M 73.71M -564.26M 55.56M 2,059.81M
EBITDA 2,648.53M 1,349.80M 490.77M 1,268.55M 3,543.83M
Diluted EPS 0.13 0.00 -0.06 0.00 0.21
Dividends Per Share 0.02 0.00 0.00 0.01 0.07
Total Assets 13,940.85M 13,401.42M 12,334.93M 13,508.42M 16,898.09M
Total liabilities 5,058.51M 5,105.53M 4,591.99M 5,053.48M 5,881.47M
Total equity 8,882.33M 8,295.88M 7,736.85M 8,447.91M 11,000.37M
Operating cash flow 2,725.63M 1,776.89M 473.55M 765.51M 3,662.04M

Valuation Measures

Dec 2021
Operating margin17.91%
Profit margin16.43%

Key executives

  • Chairman & Chief Executive Officer: Jim Hung
  • President, Chief Operating Officer & Director: Yang Chu-Hsiang
  • Chief Financial Officer: Jhih-Siou Liou
  • Director & Executive Vice President: Chin Lung Ting
  • Vice President & General Manager-Mobile Product: Yang Hung-Wen


  • Hon Hai Precision Industry Co., Ltd. (3.0%)
  • Labor Pension New Fund (2.8%)
  • Chi Mei Corp. (2.5%)
  • Foxconn Technology Co., Ltd. (2.3%)
  • The Vanguard Group, Inc. (1.9%)
  • BlackRock Fund Advisors (1.9%)
  • Dimensional Fund Advisors LP (1.4%)
  • Norges Bank Investment Management (1.3%)
  • KUO TAI MING /HONHAI/ (1.3%)
  • Labor Pension Old Fund (1.1%)

Contact Details

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

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Last Updated on 1 Dec, 2022

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