Innolux Corp.

In the news

Apple opts for OLED screens for entire 5G iPhone range Jul 7, 2020
Taiwan tech companies' China exit fuels $25bn investment drive May 28, 2020
Asian stocks skid amid crude oil rout, virus fears Mar 9, 2020
Asian stocks gain as latest data help ease worries over China epidemic Feb 14, 2020
LG Display and Samsung race Chinese rivals as LCD woes deepen Sep 24, 2019

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	TWD	USD
Revenue	350,076.69M	12,533.23M
Gross Profit	91,380.78M	3,271.55M
Operating income	62,713.07M	2,245.21M
Income before tax	62,345.96M	2,232.07M
Net income	57,534.46M	2,059.81M
EBITDA	98,985.93M	3,543.83M
Diluted EPS	5.34	0.19
Dividends Per Share	1.05	0.03
Total Assets	467,519.59M	16,898.09M
Total liabilities	162,722.65M	5,881.47M
Total equity	304,347.40M	11,000.37M
Operating cash flow	102,287.66M	3,662.04M
	Currency in TWD	Currency in USD

Historical Data

TWD | USD

	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 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	3.63	0.22	-1.76	0.16	5.34
Dividends Per Share	0.80	0.06	0.10	0.39	1.05
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 2017	Dec 2018	Dec 2019	Dec 2020	Dec 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	0.11	0.00	-0.05	0.00	0.19
Dividends Per Share	0.02	0.00	0.00	0.01	0.03
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
PER	3.54
ROA	13.58%
ROE	21.24%
Operating margin	17.91%
Profit margin	16.43%

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

Shareholders

Hon Hai Precision Industry Co., Ltd. (3.0%)
Yuanta Securities Investment Trust Co., Ltd. (2.8%)
Labor Pension New Fund (2.8%)
Chi Mei Corp. (2.5%)
Foxconn Technology Co., Ltd. (2.3%)
BlackRock Fund Advisors (2.3%)
The Vanguard Group, Inc. (1.9%)
Norges Bank Investment Management (1.3%)
KUO TAI MING /HONHAI/ (1.3%)
Dimensional Fund Advisors LP (1.2%)

Contact Details

Website:http://www.innolux.com
Address: No. 160 Kesyue Road, Hsinchu Science Park, Miaoli, 35053, Taiwan
Phone: +886.37.58.6600

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Competitors

BOE Technology Group Co., Ltd. Class A
TCL Technology Group Corporation Class A
AUO Corp.
LG Display Co., Ltd
e-Litecom Co., Ltd
Arima Optoelectronics Corp.
DSK Co., Ltd
INVENIA Co., Ltd.
VIA optronics AG Sponsored ADR
Visteon Corporation

Last Updated on 30 Jun, 2022