Form 6-K

 

 

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 May, 2021

Commission File Number 001-37928

 

 

ChipMOS TECHNOLOGIES INC.

(Translation of Registrant’s 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: May 11, 2021    

ChipMOS TECHNOLOGIES INC.

                  (Registrant)

    By:  

/S/ S. J. Cheng

    Name:   S. J. Cheng
    Title:   Chairman & President


EXHIBIT INDEX

 

Exhibit
Number

  

Description

99.1    Press release issued by ChipMOS on May 11, 2021.
99.2    ChipMOS first quarter 2021 conference call presentation material.
EX-99.1

Exhibit 99.1

LOGO

 

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 FIRST QUARTER 2021 RESULTS

 

   

Revenue Increases 15.7% in 1Q21 Compared to 1Q20, New Quarterly Record

 

   

24.2% Gross Margin Increases 150 Basis Points from 1Q20

 

   

Net Earnings Increase 34.7% in 1Q21 Compared to 1Q20 and Increase 40.4% Compared to 4Q20, with 1Q21 Reaching NT$1.32 or US$0.05 per Basic Common Share or US$0.93 per Basic ADS

 

   

Free Cash Flow of US$32.4 Million in 1Q21, with Further Expansion of Cash and Cash Equivalents Balance to US$196.3 Million

 

   

Dividend of NT$2.2 Per Common Share Approved by the ChipMOS’ Board of Directors Pending Shareholder Approval at Company’s AGM

Hsinchu, Taiwan – May 11, 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 first quarter ended March 31, 2021, with a new quarterly revenue record high, continued gross margin expansion and a 40.4% increase in net earnings compared to the fourth quarter ended December 31, 2020. All U.S. dollar figures cited in this press release are based on the exchange rate of NT$28.48 against US$1.00 as of March 31, 2021.

All the figures were prepared in accordance with Taiwan-International Financial Reporting Standards (“Taiwan-IFRS”).

Revenue for the first quarter of 2021 was NT$6,465.3 million or US$227.0 million, an increase of 2.5% from NT$6,310.3 million or US$221.6 million in the fourth quarter of 2020 and an increase of 15.7% from NT$5,586.8 million or US$196.2 million for the same period in 2020. The sequential and year over year increases reflects the Company’s continued execution on its business strategy, as it leverages prior investments in capacity to meet increased customer’ demand levels across its key market segments, with a higher average ASP and higher consolidated gross margin.

Net non-operating income in first quarter of 2021 was NT$25.3 million or US$0.9 million, compared to net non-operating expenses NT$277.6 million or US$9.7 million in the fourth quarter of 2020. The difference is mainly due to the decrease of foreign exchange loss of NT$151.6 million or US$5.3 million and the share of gain of associates accounted for using equity method of NT$141.6 million or US$5.0 million. Net non-operating expenses in first quarter of 2020 was NT$4.3 million or US$0.2 million. The difference is mainly due to increase of the share of gain of associates accounted for using equity method of NT$69.2 million or US$2.4 million, the decrease of interest expense of NT$12.5 million or US$0.4 million and partially offset by the increase of foreign exchange loss NT$54.7 million or US$1.9 million.

Net profit attributable to equity holders of the Company for the first quarter of 2021 was NT$959.1 million or US$33.7 million, and NT$1.32 or US$0.05 per basic common share, as compared to NT$686.4 million or US$24.1 million, and NT$0.94 or US$0.03 per basic common share in the fourth quarter of 2020. This compares to NT$712.7 million or US$25.0 million, and NT$0.98 or US$0.03 per basic common share in the first quarter of 2020. Net earnings for the first quarter of 2021 were US$0.93 per basic ADS, compared to US$0.66 per basic ADS for the fourth quarter of 2020 and US$0.69 per basic ADS in the first quarter of 2020.

Free cash flow for the first quarter of 2021 was NT$922.3 million or US$32.4 million, with a balance of cash and cash equivalents was NT$5,590.8 million or US$196.3 million.

 

-1-


LOGO

 

First Quarter 2021 Investor Conference Call / Webcast Details

Date: Tuesday, May 11, 2021

Time: 3:00PM Taiwan (3:00AM New York)

Dial-In: +886-2-21928016

Password: 841281 #

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 Company’s 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 ongoing 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-

EX-99.2

Slide 1

May 2021 Industry Leading Provider of Outsourced Semiconductor Assembly, Test & Bumping Services Q1’21 Results Conference Exhibit 99.2


Slide 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 ongoing 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


Slide 3

Agenda Welcome Q1’21 Operating Results S.J. Cheng Q1’21 Financial Results Silvia Su Q2’21 Business Outlook S.J. Cheng Q&A


Slide 4

Q1’21 Operating Results


Slide 5

Revenue: NT$6,465.3M (QoQ +2.5%, YoY +15.7%) new quarterly record high Gross Margin: 24.2% (QoQ: -0.2ppts, YoY: +1.5ppts) Revenue & Gross Margin 5


Slide 6

Utilization Rate 6 Q1’21: 95% Q4’20: 97% Q1’20: 81% Q1’21: 88% Q4’20: 86% Q1’20: 83% Q1’21: 81% Q4’20: 80% Q1’20: 75% Q1’21: 86% Q4’20: 85% Q1’20: 79% Q1’21: 81% Q4’20: 78% Q1’20: 77%


Slide 7

Q1’21 Revenue Breakdown Product Segment Manufacturing Site


Slide 8

Revenue Breakdown - Memory 8 Q1’21: 43.3% (QoQ: +4.8%, YoY: +18.6%)


Slide 9

Revenue Breakdown - DDIC + Gold Bump 9 Q1’21: 46.8% (QoQ: -4.0%, YoY: +14.2%)


Slide 10

Revenue Breakdown - Application 10 DDIC & Gold bump Memory & Mixed-signal Content Performance of Q1’21 Smart Mobile 36.5% TV 15.5% Computing 12% Auto/Industrial 13% Consumer 23% Smart phone Wearable 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


Slide 11

Q1’21 Financial Results


Slide 12

Consolidated Operating Results Summary


Slide 13

Consolidated Statements of Comprehensive Income Note (1) : QoQ: Difference mainly due to the decrease of foreign exchange loss of NT$152M and the increase of share of gain of associates accounted for using equity method of NT$142M. YoY: Difference mainly due to the increase of the share of gain of associates accounted for using equity method of NT$69M, the decrease of interest expense NT$13M and partially offset by the increase of foreign exchange loss NT$55M.


Slide 14

Consolidated Statements of Financial Position & Key Indices


Slide 15

Consolidated Statements of Cash Flows Note (1): Difference mainly due to the increase of operating profit of NT$260M and the depreciation expenses of NT$122M.


Slide 16

Capital Expenditures & Depreciation CapEX: NT$1,110.3M Depreciation: NT$1,127.0M


Slide 17

Q2’21 Business Outlook


Slide 18

Continuing 5G buildouts, and major digital transformation in Industrial & Auto Semiconductor supply chain tightness & capacity shortages remain in 2Q21 OSAT capacity continuing tight and strategically adding capacity Expected profit improvement, OSAT ASP increasing Memory: Increasing assembly capacity to meet strong demand DRAM: Demand likely to gain vs Q1’21 with customers re-stocking Flash: Anticipate bolstered momentum continuing DDIC: Continuing to closely monitor the wafer supply status  Mid/Large panel (NB/TV): Gaining more allocation share and improving the COF UT Small panel (Smart phone): Increased capacity and keep high UT level Mixed-signal: Continued momentum, with strong demand from major customers Expand OSAT scale with strategic customers Market & Business Outlook


Slide 19

Q&A https://www.chipmos.com