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 2020	TWD	USD
Revenue	269,911.05M	9,166.76M
Gross Profit	23,703.48M	805.02M
Operating income	1,811.79M	61.53M
Income before tax	2,380.57M	80.84M
Net income	1,636.14M	55.56M
EBITDA	37,352.11M	1,268.55M
Diluted EPS	0.16	0.00
Dividends Per Share	0.39	0.01
Total Assets	379,559.83M	13,508.42M
Total liabilities	141,992.79M	5,053.48M
Total equity	237,369.66M	8,447.91M
Operating cash flow	22,540.18M	765.51M
	Currency in TWD	Currency in USD

Historical Data

TWD | USD

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 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 2016	Dec 2017	Dec 2018	Dec 2019	Dec 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
PER	83.28
ROA	0.43%
ROE	0.69%
Operating margin	0.67%
Profit margin	0.60%

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

Shareholders

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: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

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

Last Updated on 3 Dec, 2021