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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 2020 TWDUSD
Revenue249,954.31M8,488.99M
Gross Profit44,540.21M1,512.68M
Operating income-2,089.74M-70.97M
Income before tax-1,936.36M-65.76M
Net income4,840.18M164.38M
EBITDA14,494.56M492.26M
Diluted EPS1.630.05
Dividends Per Share0.500.01
Total Assets368,914.55M13,129.56M
Total liabilities167,671.35M5,967.37M
Total equity134,109.45M4,772.91M
Operating cash flow26,109.45M886.73M
Currency in TWDCurrency in USD

Historical Data

 Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020
Revenue 274,895.34M 278,631.87M 293,316.08M 313,156.58M 249,954.31M
Gross Profit 67,235.18M 68,983.81M 70,826.70M 70,265.54M 44,540.21M
Operating income 17,619.11M 17,068.09M 13,823.68M 13,972.51M -2,089.74M
Income before tax 20,007.73M 19,034.30M 14,500.34M 14,107.45M -1,936.36M
Net income 13,057.05M 12,921.60M 10,708.64M 11,828.60M 4,840.18M
EBITDA 26,256.14M 26,476.72M 24,223.83M 29,675.08M 14,494.56M
Diluted EPS 4.29 4.37 3.62 4.00 1.63
Dividends Per Share 1.50 2 1.50 1.25 0.50
Total Assets 293,889.86M 301,904.43M 304,262.41M 363,056.33M 368,914.55M
Total liabilities 130,879.15M 143,524.48M 152,064.70M 173,187.30M 167,671.35M
Total equity 75,705.14M 83,615.37M 77,863.39M 117,408.93M 134,109.45M
Operating cash flow 19,257.79M 20,702.64M 12,541.31M 27,168.07M 26,109.45M
 Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020
Revenue 8,523.67M 9,158.68M 9,727.12M 10,130.35M 8,488.99M
Gross Profit 2,084.75M 2,267.51M 2,348.79M 2,273.03M 1,512.68M
Operating income 546.31M 561.03M 458.42M 451.99M -70.97M
Income before tax 620.37M 625.66M 480.86M 456.36M -65.76M
Net income 404.85M 424.73M 355.12M 382.64M 164.38M
EBITDA 814.12M 870.29M 803.32M 959.96M 492.26M
Diluted EPS 0.13 0.14 0.12 0.12 0.05
Dividends Per Share 0.04 0.06 0.04 0.04 0.01
Total Assets 9,118.80M 10,145.15M 9,898.89M 12,111.16M 13,129.56M
Total liabilities 4,060.91M 4,822.97M 4,947.28M 5,777.33M 5,967.37M
Total equity 2,348.97M 2,809.79M 2,533.21M 3,916.63M 4,772.91M
Operating cash flow 597.12M 680.49M 415.90M 878.86M 886.73M

Valuation Measures

Dec 2020
PER19.11
ROA1.32%
ROE3.84%
Operating margin-0.83%
Profit margin1.93%

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

Shareholders

  • TSAI CHI JUI (15.5%)
  • Chuan Mou Investments Co. Ltd. (5.5%)
  • The Vanguard Group, Inc. (2.8%)
  • BlackRock Fund Advisors (2.4%)
  • Kai Tai Investments Co. Ltd. (2.2%)
  • Fubon Life Insurance Co., Ltd. (2.1%)
  • LLB Asset Management AG (1.7%)
  • Norges Bank Investment Management (1.6%)
  • Dimensional Fund Advisors LP (0.8%)
  • SHIH CHING I (0.7%)

Contact Details

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

Related Companies

  • Pou Yuen Technology Co., Ltd.
  • Pan Asia Insurance Services Co., Ltd.
  • Pou Shine Investments Co., Ltd.
  • Kunshan Yucheng Sporting Goods Co., Ltd.
  • Pou Chen Mexico SA de CV
  • Pro Arch International Development Enterprise, Inc.
  • Windsor Entertainment Co., Ltd.
  • Jilin Lingpao Sporting Goods Co. Ltd.
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  • Zhejiang Yichuan Sporting Goods Co. Ltd.
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  • Barits Development Corp.
  • Top Score Investments Ltd.
  • Win Fortune Investments Ltd.
  • Yue Yuen Industrial (Holdings) Limited

Competitors

  • HWASEUNG Industries Co., Ltd.
  • HWASEUNG ENTERPRISE Co., Ltd.
Last Updated on 18 Oct, 2021

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