UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of March, 2021
Commission File Number 001-37928
ChipMOS TECHNOLOGIES INC.
(Translation of Registrants Name Into English)
No. 1, R&D Rd. 1, Hsinchu Science Park
Hsinchu, Taiwan
Republic of China
(Address of Principal Executive Offices)
(Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.)
Form 20-F ☒ Form 40-F ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Dated: March 16, 2021 | ChipMOS TECHNOLOGIES INC. (Registrant) | |||||
By: | /S/ S. J. Cheng | |||||
Name: | S. J. Cheng | |||||
Title: | Chairman & President |
EXHIBIT INDEX
Exhibit |
Description | |
99.1 | Press release issued by ChipMOS on March 16, 2021. | |
99.2 | ChipMOS fourth quarter and full year 2020 conference call presentation material. |
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Exhibit 99.1
Contacts:
In Taiwan Jesse Huang ChipMOS TECHNOLOGIES INC. +886-6-5052388 ext. 7715 IR@chipmos.com |
In the U.S. David Pasquale Global IR Partners +1-914-337-8801 dpasquale@globalirpartners.com |
ChipMOS REPORTS FOURTH QUARTER AND FULL YEAR 2020 RESULTS
Full Year 2020 Highlights (as compared to the Full Year 2019):
| 13.1% Increase in Revenue to US$819.5 Million from US$724.3 Million, with Record Quarterly Revenue Through 2020 |
| 28.2% Expansion of Gross Profit to US$179.2 Million from US$139.8 Million, Reflecting Higher Utilization Levels and Strategic Price Increases |
| 260 Basis Point Improvement in Gross Margin to 21.9% from 19.3% |
| Net Earnings of NT$3.26 or US$0.12 per Basic Common Share or US$2.32 per Basic ADS Compared to Net Earnings of NT$3.55 or US$0.13 per Basic Common Share or US$2.53 per Basic ADS |
| US$55.5 Million of Full Year Free Cash Flow, with a US$146.5 Million Balance of Cash and Cash Equivalents at Year End |
| NT$2.2 Per Share Distribution Authorized by Board Pending Shareholder Approval at May 2021 AGM, as Company Continues to Build Value and Deliver a Higher Yield to Shareholders |
Hsinchu, Taiwan March 16, 2021 - ChipMOS TECHNOLOGIES INC. (ChipMOS or the Company) (Taiwan Stock Exchange: 8150 and NASDAQ: IMOS), an industry leading provider of outsourced semiconductor assembly and test services (OSAT), today reported consolidated financial results for the fourth quarter and full year ended December 31, 2020. All U.S. dollar figures cited in this press release are based on the exchange rate of NT$28.08 against US$1.00 as of December 31, 2020.
All the figures were prepared in accordance with Taiwan-International Financial Reporting Standards (Taiwan-IFRS).
Revenue for the fourth quarter of 2020 was NT$6,310.3 million or US$224.7 million, an increase of 11.0% from NT$5,686.1 million or US$202.5 million in the third quarter of 2020 and an increase of 13.3% from NT$5,571.5 million or US$198.4 million for the same period in 2019. Revenue for the fiscal year ended December 31, 2020 was NT$23,011.4 million or US$819.5 million, an increase of 13.1% from NT$20,337.9 million or US$724.3 million for the fiscal year ended December 31, 2019.
Net non-operating expenses in fourth quarter of 2020 was NT$277.6 million or US$9.9 million, compared to NT$178.5 million or US$6.4 million in the third quarter of 2020. The increase compared to the third quarter of 2020 is mainly due to an increase of the share of loss of associates accounted for using equity method and foreign exchange loss, combined with a higher foreign exchange loss against the U.S. dollar. Net non-operating expenses in fourth quarter of 2019 was NT$224.7 million or US$8.0 million. Net non-operating expenses of the Company for the fiscal year ended December 31, 2020 was NT$593.1 million or US$21.1 million, compared to net non-operating income of NT$573.2 million or US$20.4 million for the fiscal year ended December 31, 2019. The decline in 2020 compared to 2019 is mainly due to a decrease of the gain on disposal of investment accounted for using equity method and a higher foreign exchange loss.
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Net profit attributable to equity holders of the Company for the fourth quarter of 2020 was NT$686.4 million or US$24.4 million, and NT$0.94 or US$0.03 per basic common share, as compared to NT$423.4 million or US$15.1 million, and NT$0.58 or US$0.02 per basic common share in the third quarter of 2020. This compares to NT$530.0 million or US$18.9 million, and NT$0.73 or US$0.03 per basic common share in the fourth quarter of 2019. Net earnings for the fourth quarter of 2020 were US$0.67 per basic ADS, compared to US$0.41 per basic ADS for the third quarter of 2020 and US$0.52 per basic ADS in the fourth quarter of 2019. Net profit attributable to equity holders of the Company for the fiscal year ended December 31, 2020 was NT$2,367.5 million or US$84.3 million, and NT$3.26 or US$0.12 per basic common share, compared to net profit attributable to equity holders of the Company for the fiscal year ended December 31, 2019 was NT$2,584.2 million or US$92.0 million, and NT$3.55 or US$0.13 per basic common share. Net earnings for the fiscal year ended December 31, 2020 were US$2.32 per basic ADS, compared to US$2.53 per basic ADS for the fiscal year ended December 31, 2019. The decline primarily reflects a one-time gain of NT$982 million recognized in 2019 on the disposal of investment accounted for using equity method, the increase of foreign exchange loss of NT$200 million, income tax expense of NT$159.7 million, was which was partially offset by the increase of gross profit of NT$1,106.1 million.
Free cash flow for the fiscal year ended December 31, 2020 was NT$1,558.9 million or US$55.5 million, with a balance of cash and cash equivalents was NT$4,113.7 million or US$146.5 million.
Fourth Quarter and Full Year 2020 Investor Conference Call / Webcast Details
Date: Tuesday, March 16, 2021
Time: 3:00PM Taiwan (3:00AM New York)
Dial-In: +886-2-21928016
Password: 723607 #
Webcast of Live Call and Replay: https://www.chipmos.com/chinese/ir/info2.aspx
Replay Starting 2 Hours After Live Call Ends
Language: Mandarin
Note: | An English translation audio and transcript will be made available on the Companys website following the Mandarin conference call to help ensure transparency, and to facilitate a better understanding of its financial results and operating environment. |
About ChipMOS TECHNOLOGIES INC.:
ChipMOS TECHNOLOGIES INC. (ChipMOS or the Company) (Taiwan Stock Exchange: 8150 and NASDAQ: IMOS) (https://www.chipmos.com) is an industry leading provider of outsourced semiconductor assembly and test services. With advanced facilities in Hsinchu Science Park, Hsinchu Industrial Park and Southern Taiwan Science Park in Taiwan, ChipMOS provide assembly and test services to a broad range of customers, including leading fabless semiconductor companies, integrated device manufacturers and independent semiconductor foundries.
Forward-Looking Statements
This press release may contain certain forward-looking statements. These forward-looking statements may be identified by words such as believes, expects, anticipates, projects, intends, should, seeks, estimates, future or similar expressions or by discussion of, among other things, strategy, goals, plans or intentions. These statements may include financial projections and estimates and their underlying assumptions, statements regarding plans, objectives and expectations with respect to future operations, products and services, and statements regarding future performance. Actual results may differ materially in the future from those reflected in forward-looking statements contained in this document, due to various factors, including the potential impact of COVID-19. Further information regarding these risks, uncertainties and other factors are included in the Companys most recent Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission (the SEC) and in the Companys other filings with the SEC.
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March 2021 Industry Leading Provider of Outsourced Semiconductor Assembly, Test & Bumping Services Q4’20 & Full Year 2020 Results Conference Exhibit 99.2
Safe Harbor Notice This presentation contains certain forward-looking statements. These forward-looking statements may be identified by words such as ‘believes,’ ‘expects,’ ‘anticipates,’ ‘projects,’ ‘intends,’ ‘should,’ ‘seeks,’ ‘estimates,’ ‘future’ or similar expressions or by discussion of, among other things, strategy, goals, plans or intentions. These statements may include financial projections and estimates and their underlying assumptions, statements regarding plans, objectives and expectations with respect to future operations, products and services, and statements regarding future performance. Actual results may differ materially in the future from those reflected in forward-looking statements contained in this document, due to various factors, including the potential impact of COVID-19. Further information regarding these risks, uncertainties and other factors are included in the Company’s most recent Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission (the “SEC”) and in the Company’s other filings with the SEC. 2
Agenda Welcome Q4’20 & 2020 Operating Results S.J. Cheng Q4’20 & 2020 Financial Results Silvia Su Q1’21 Business Outlook S.J. Cheng Q&A
Q4’20 & 2020 Operating Results
Revenue: Q4’20: NT$6,310.3M (QoQ +11.0%, YoY +13.3%) new quarterly record high 2020: NT$23,011.4M (YoY +13.1%) Gross Margin: Q4’20: 24.4% (QoQ: +5.1ppts, YoY: +1.7ppts) 2020: 21.9% (YoY: +2.6ppts) Revenue & Gross Margin 5
Utilization Rate 6 Q4’20: 78% Q3’20: 75% Q4’19: 77% Q4’20: 97% Q3’20: 80% Q4’19: 81% Q4’20: 86% Q3’20: 85% Q4’19: 75% Q4’20: 80% Q3’20: 76% Q4’19: 70% Q4’20: 85% Q3’20: 79% Q4’19: 76%
Q4’20 Revenue Breakdown Product Segment Manufacturing Site
Revenue Breakdown - Memory 8 Q4’20: 41.9% (QoQ: +10.2%, YoY: +11.6%)
Revenue Breakdown - DDIC + Gold Bump 9 Q4’20: 49.6% (QoQ: +11.7%, YoY: +19.9%)
Revenue Breakdown - Application 10 DDIC & Gold bump Memory & Mixed-signal Smart Mobile 37% TV 16% Computing 12% Auto/Industrial 12% Consumer 23% Smart phone Wearable Content Performance of Q4’20 UHD/4K TV 8K TV OLED TV NB/Tablet PC / server SSD In-car infotainment ADAS / sensor industrial PC Game Smart speaker DSC, STB TWS
Q4’20 & 2020 Financial Results
Consolidated Operating Results Summary
Consolidated Statements of Comprehensive Income Note(1) : QoQ: Difference mainly due to the increase of the share of loss of associates accounted for using equity method of NT$49M and foreign exchange loss of NT$47M. YoY: Difference mainly due to the increase of the share of loss of associates accounted for using equity method of NT$44M.
Consolidated Statements of Comprehensive Income Note(1): Difference mainly due to the decrease of the gain on disposal of investment accounted for using equity method of NT$982M and the increase of foreign exchange loss of NT$200M.
Consolidated Statements of Financial Position & Key Indices
Consolidated Statements of Cash Flows Note(1): Difference mainly due to the increase of the operating profit of NT$1,109M and the decrease of the CapEx of NT$763M.
Capital Expenditures & Depreciation CapEX: Q4’20: NT$1,760.1M; 2020: NT$4,133.6M Depreciation: Q4’20: NT$1,059.8M; 2020: NT$4,175.5M
Q1’21 Business Outlook
Semiconductor market continues with component shortages impacting most end markets Strong demand with capacity constraints supports higher prices Capacity being added strategically, with ChipMOS customers seeking to lock-in capacity over a longer timeframe Memory: Increased assembly price to reflect cost increases and tight capacity DRAM: Demand likely to gain vs Q4’20 with customers re-stocking Flash: Anticipate bolstered momentum continuing DDIC: 2nd 5~10% price increase expected in Q1’21 Mid/Large panel (NB/Tablet/TV): Gaining more allocation share Small panel (Smart phone): Continued strong TDDI demand Market & Business Outlook
Q&A https://www.chipmos.com