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Consumer Non-Durables

Pou Chen Corp.

Company Background

Pou Chen is a holding company that controls a massive contract shoemaking empire, servicing international brands including Nike, Adidas and Puma. It operates factories in China, Vietnam and Indonesia. The company also distributes major international casualwear brands in Taiwan and China.

The company was founded in 1969 by C.J. Tsai in the central Taiwanese farming county of Changhua. It started out making rubber shoes for export, and first became a contract manufacturer in 1979 when it made shoes for Adidas.

In recent years, Pou Chen has transformed itself into a holding company by transferring shoe production to the Hong Kong-listed subsidiary Yue Yuen Industrial (Holdings) in 2002 and the distribution business to its subsidiary Pou Sheng International Holdings in 2008.

Chief Executive Patty Tsai is the daughter of C.J. She obtained a bachelor's degree in economics with a concentration in finance from the Wharton School of the University of Pennsylvania in 2002, and joined the family business in the same year. She was appointed CEO in 2012.

Business Summary

Pou Chen Corp. engages in the manufacture and sale of athletic and casual footwear. It focuses on footwear, sports apparel, and sports accessories such as sports bag, backpacks, luggage, and travel accessories. Its products include sports shoes, leather shoes, plastic shoes, rubber shoes, cloth shoes, and plastic foam boards. It also engaged in manufacture and sale of cotton. rayon. rayon. synthetic fiber, and blended knit. The company was founded on September 4, 1969 and is headquartered in Taichung, Taiwan.

Financial Highlights

Dec 2019 TWDUSD
Gross Profit70,265.54M2,273.03M
Operating income13,972.51M451.99M
Income before tax14,107.45M456.36M
Net income11,828.60M382.64M
Diluted EPS4.000.12
Dividends Per Share1.250.04
Total Assets363,056.33M12,111.16M
Total liabilities173,187.30M5,777.33M
Total equity117,408.93M3,916.63M
Operating cash flow27,168.07M878.86M
Currency in TWDCurrency in USD

Historical Data

 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 269,081.17M 274,895.34M 278,631.87M 293,316.08M 313,156.58M
Gross Profit 61,450.73M 67,235.18M 68,983.81M 70,826.70M 70,265.54M
Operating income 12,346.38M 17,619.11M 17,068.09M 13,823.68M 13,972.51M
Income before tax 13,753.62M 20,007.73M 19,034.30M 14,500.34M 14,107.45M
Net income 9,531.35M 13,057.05M 12,921.60M 10,708.64M 11,828.60M
EBITDA 20,547.59M 26,256.14M 26,476.72M 24,223.83M 29,675.08M
Diluted EPS 3.14 4.29 4.37 3.62 4.00
Dividends Per Share 1.50 1.50 2 1.50 1.25
Total Assets 280,623.91M 293,889.86M 301,904.43M 304,262.41M 363,056.33M
Total liabilities 125,820.25M 130,879.15M 143,524.48M 152,064.70M 173,187.30M
Total equity 69,270.11M 75,705.14M 83,615.37M 77,863.39M 117,408.93M
Operating cash flow 25,747.44M 19,257.79M 20,702.64M 12,541.31M 27,168.07M
 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 8,473.91M 8,523.67M 9,158.68M 9,727.12M 10,130.35M
Gross Profit 1,935.20M 2,084.75M 2,267.51M 2,348.79M 2,273.03M
Operating income 388.81M 546.31M 561.03M 458.42M 451.99M
Income before tax 433.12M 620.37M 625.66M 480.86M 456.36M
Net income 300.16M 404.85M 424.73M 355.12M 382.64M
EBITDA 647.08M 814.12M 870.29M 803.32M 959.96M
Diluted EPS 0.09 0.13 0.14 0.12 0.12
Dividends Per Share 0.04 0.04 0.06 0.04 0.04
Total Assets 8,543.36M 9,118.80M 10,145.15M 9,898.89M 12,111.16M
Total liabilities 3,830.49M 4,060.91M 4,822.97M 4,947.28M 5,777.33M
Total equity 2,108.87M 2,348.97M 2,809.79M 2,533.21M 3,916.63M
Operating cash flow 810.83M 597.12M 680.49M 415.90M 878.86M

Valuation Measures

Dec 2019
Operating margin4.46%
Profit margin3.77%

Key executives

  • Chairman & General Manager-Administration: Lu Min Chan
  • General Manager & Director: Chin Chu Lu
  • Head-Finance & Assistant Deputy GM: Ya Fen Chang
  • Vice President: Nai Yung Tsai
  • Director & Vice President: Yue Ming Ho


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Contact Details

  • Website:
  • Address: No. 600 Taiwan Boulevard Section 4, Xitun District, Taichung, 407 64, Taiwan
  • Phone: +886.4.2461.5678

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Last Updated on 7 Aug, 2020

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