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Consumer Non-Durables

Pou Chen Corp.

  • 32.80 TWD
  • +0.20
  • +0.61%
  • Taiwan
    Nov 16, 2018
  • Ticker
    TAI(9904)
  • Prev. close
    32.60
  • Market cap (TWD)
    96,065.26M
  • Market cap (USD)
    3,112.73M
  • Shares
    2,946.78M

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 2017 TWDUSD
Revenue278,631.87M9,158.68M
Gross Profit68,983.81M2,267.51M
Operating income17,068.09M561.03M
Income before tax19,034.30M625.66M
Net income12,921.60M424.73M
EBITDA26,476.72M870.29M
Diluted EPS4.370.14
Dividends Per Share20.06
Total Assets301,904.43M10,145.15M
Total liabilities143,524.48M4,822.97M
Total equity83,615.37M2,809.79M
Operating cash flow20,702.64M680.49M
Currency in TWDCurrency in USD

Historical Data

 Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017
Revenue 226,664.56M 243,976.29M 269,081.17M 274,895.34M 278,631.87M
Gross Profit 47,532.42M 52,282.05M 61,450.73M 67,235.18M 68,983.81M
Operating income 10,084.82M 7,912.63M 12,346.38M 17,619.11M 17,068.09M
Income before tax 13,754.72M 9,720.09M 13,753.62M 20,007.73M 19,034.30M
Net income 10,619.44M 8,615.50M 9,531.35M 13,057.05M 12,921.60M
EBITDA 17,939.70M 15,562.90M 20,547.59M 26,256.14M 26,476.72M
Diluted EPS 3.53 2.85 3.14 4.29 4.37
Dividends Per Share 1 1.50 1.50 1.50 2
Total Assets 248,129.22M 273,041.94M 280,623.91M 293,889.86M 301,904.43M
Total liabilities 110,509.04M 120,916.35M 125,820.25M 130,879.15M 143,524.48M
Total equity 61,210.88M 70,714.21M 69,270.11M 75,705.14M 83,615.37M
Operating cash flow 15,387.18M 16,291.88M 25,747.44M 19,257.79M 20,702.64M
 Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017
Revenue 7,636.62M 8,051.16M 8,473.91M 8,523.67M 9,158.68M
Gross Profit 1,601.42M 1,725.29M 1,935.20M 2,084.75M 2,267.51M
Operating income 339.77M 261.11M 388.81M 546.31M 561.03M
Income before tax 463.41M 320.76M 433.12M 620.37M 625.66M
Net income 357.78M 284.30M 300.16M 404.85M 424.73M
EBITDA 604.41M 513.57M 647.08M 814.12M 870.29M
Diluted EPS 0.11 0.09 0.09 0.13 0.14
Dividends Per Share 0.03 0.04 0.04 0.04 0.06
Total Assets 8,325.50M 8,640.02M 8,543.36M 9,118.80M 10,145.15M
Total liabilities 3,707.92M 3,826.22M 3,830.49M 4,060.91M 4,822.97M
Total equity 2,053.81M 2,237.65M 2,108.87M 2,348.97M 2,809.79M
Operating cash flow 518.41M 537.62M 810.83M 597.12M 680.49M

Valuation Measures

Dec 2017
PER8.80
ROA4.33%
ROE16.22%
Operating margin6.12%
Profit margin4.63%

Key executives

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

Shareholders

  • TSAI CHI JUI (15.5%)
  • Chuan Mou Investments Co. Ltd. (5.5%)
  • Kai Tai Investments Co. Ltd. (4.4%)
  • The Vanguard Group, Inc. (3.1%)
  • Fubon Life Insurance Co., Ltd. (2.7%)
  • Cathay Life Insurance Co., Ltd. (Invt Port) (2.2%)
  • LLB Asset Management AG (1.7%)
  • BlackRock Fund Advisors (1.6%)
  • Dimensional Fund Advisors LP (1.6%)
  • Seafarer Capital Partners LLC (1.5%)

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

  • Kunshan Yucheng Sporting Goods Co., Ltd.
  • Pou Chen Mexico SA de CV
  • Jilin Lingpao Sporting Goods Co. Ltd.
  • PT Nikomas Gemilang
  • PT Pou Chen Indonesia
  • Pou Chen Vietnam Enterprise Ltd.
  • Pou Yuen Marketing Co. Ltd.
  • Zhejiang Yichuan Sporting Goods Co. Ltd.
  • Jingzhan Asia-Pacific Construction Development Co. Ltd.
  • Pge Corp. Ltd.
  • Yue Yuan Yue Le Development Co. Ltd.
  • Yun Yang Investment Co. Ltd.
  • Pao Yuan Technology Co. Ltd.
  • Pei Li Development Co. Ltd.
  • Pao Hsiang Investment Co. Ltd.
  • Chih-So Technology Co. Ltd.
  • Ming Wang Investment Co. Ltd.
  • Pao Fu Investment Ltd.
  • Pao-Hsing Investment Co. Ltd.
  • Barits Development Corp.
  • Top Score Investments Ltd.
  • Win Fortune Investments Ltd.
  • Yue Yuen Industrial (Holdings) Limited

Competitors

  • adidas AG
  • NIKE, Inc. Class B
  • Li Ning Company Limited
  • Xtep International Holdings Limited
  • ANTA Sports Products Ltd.
  • 361 Degrees International Ltd.
  • HWASEUNG ENTERPRISE CO., LTD.
  • Eagle Nice (International) Holdings Ltd.
Last Updated on 16 Nov, 2018

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