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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 2020 TWDUSD
Gross Profit23,703.48M805.02M
Operating income1,811.79M61.53M
Income before tax2,380.57M80.84M
Net income1,636.14M55.56M
Diluted EPS0.160.00
Dividends Per Share0.390.01
Total Assets379,559.83M13,508.42M
Total liabilities141,992.79M5,053.48M
Total equity237,369.66M8,447.91M
Operating cash flow22,540.18M765.51M
Currency in TWDCurrency in USD

Historical Data

 Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020
Revenue 287,089.27M 329,174.40M 279,376.11M 251,971.20M 269,911.05M
Gross Profit 25,902.11M 68,603.33M 26,677.16M 2,857.72M 23,703.48M
Operating income 6,413.24M 47,022.20M 4,835.29M -19,933.89M 1,811.79M
Income before tax 4,804.66M 48,666.33M 6,125.56M -16,832.72M 2,380.57M
Net income 1,870.68M 37,028.60M 2,222.76M -17,442.99M 1,636.14M
EBITDA 47,820.65M 80,575.52M 40,702.70M 15,171.31M 37,352.11M
Diluted EPS 0.19 3.63 0.22 -1.76 0.16
Dividends Per Share 0.09 0.80 0.06 0.10 0.39
Total Assets 371,479.54M 414,858.75M 411,919.60M 369,764.34M 379,559.83M
Total liabilities 145,473.18M 150,533.71M 156,928.89M 137,654.31M 141,992.79M
Total equity 226,006.36M 264,325.04M 254,990.70M 231,927.70M 237,369.66M
Operating cash flow 33,383.29M 82,921.06M 53,581.33M 14,638.94M 22,540.18M
 Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020
Revenue 8,901.77M 10,820.02M 9,264.83M 8,151.05M 9,166.76M
Gross Profit 803.14M 2,255.00M 884.68M 92.44M 805.02M
Operating income 198.85M 1,545.62M 160.35M -644.84M 61.53M
Income before tax 148.97M 1,599.67M 203.13M -544.52M 80.84M
Net income 58.00M 1,217.13M 73.71M -564.26M 55.56M
EBITDA 1,482.77M 2,648.53M 1,349.80M 490.77M 1,268.55M
Diluted EPS 0.00 0.11 0.00 -0.05 0.00
Dividends Per Share 0.00 0.02 0.00 0.00 0.01
Total Assets 11,526.25M 13,940.85M 13,401.42M 12,334.93M 13,508.42M
Total liabilities 4,513.73M 5,058.51M 5,105.53M 4,591.99M 5,053.48M
Total equity 7,012.51M 8,882.33M 8,295.88M 7,736.85M 8,447.91M
Operating cash flow 1,035.11M 2,725.63M 1,776.89M 473.55M 765.51M

Valuation Measures

Dec 2020
Operating margin0.67%
Profit margin0.60%

Key executives

  • Chairman & Chief Executive Officer: Jim Hung
  • President, Chief Operating Officer & Director: Yang Chu-Hsiang
  • Head-Finance Department & Deputy Spokesman: Chien Lang Lo
  • 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%)
  • Yuanta Securities Investment Trust Co., Ltd. (2.5%)
  • Foxconn Technology Co., Ltd. (2.3%)
  • BlackRock Fund Advisors (2.3%)
  • The Vanguard Group, Inc. (2.0%)
  • 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 3 Dec, 2021

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