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 November, 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: November 8, 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 November 8, 2021.
99.2    ChipMOS third quarter 2021 conference call presentation material.

 

-1-

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 THIRD QUARTER 2021 RESULTS

 

   

26% Revenue Increases in 3Q21 Compared to 3Q20

 

   

800 Basis Point Gross Margin Expansion from 3Q20

 

   

10% Increase in Net Earnings Compared to 2Q21, with 3Q21 Reaching NT$1.93 Per Basic Common Share or US$1.38 Per Basic ADS

 

   

117% Increase in Net Earnings for the First Nine Months of 2021 to NT$5.01 from NT$2.31 in the First Nine Months of 2020, with Per Basic ADS to US$3.60 Compared to US$1.66

 

   

Free Cash Flow of US$50.9 Million for the First Nine Months of 2021, with Further Expansion of Cash and Cash Equivalents Balance to US$186.4 Million

 

   

Distributed Cash Dividend of NT$2.2 Per Common Share on August 31, 2021 and US$1.582 Per ADS on September 8, 2021

Hsinchu, Taiwan – November 8, 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 third quarter ended September 30, 2021. All U.S. dollar figures cited in this press release are based on the exchange rate of NT$27.84 against US$1.00 as of September 30, 2021.

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

Revenue for the third quarter of 2021 was NT$7,161.0 million or US$257.2 million, an increase of 2.6% from NT$6,982.3 million or US$250.8 million in the second quarter of 2021 and an increase of 25.9% from NT$5,686.1 million or US$204.2 million for the same period in 2020.

Net non-operating income in third quarter of 2021 was NT$147.5 million or US$5.3 million, compared to net non-operating expenses NT$18.9 million or US$0.7 million in the second quarter of 2021. The difference is primarily due to an increase in the share of gain of associates accounted for using equity method of NT$85 million or US$3.1 million, a lower foreign exchange loss of NT$62 million or US$2.2 million and an increase of gain on valuation of financial assets at fair value through profit or loss of NT$15 million or US$0.5 million. Net non-operating expenses in third quarter of 2020 were NT$178.5 million or US$6.4 million.

Net profit attributable to equity holders of the Company for the third quarter of 2021 was NT$1,398.9 million or US$50.2 million, and NT$1.93 or US$0.07 per basic common share, as compared to NT$1,283.6 million or US$46.1 million, and NT$1.76 or US$0.06 per basic common share in the second quarter of 2021. This compares to NT$423.4 million or US$15.2 million, and NT$0.58 or US$0.02 per basic common share in the third quarter of 2020. Net earnings for the third quarter of 2021 were US$1.38 per basic ADS, compared to US$1.27 per basic ADS for the second quarter of 2021 and US$0.42 per basic ADS in the third quarter of 2020.

Free cash flow for the first nine months of 2021 was NT$1,416.4 million or US$50.9 million, with a balance of cash and cash equivalents was NT$5,188.8 million or US$186.4 million.

 

-1-


LOGO

 

Third Quarter 2021 Investor Conference Call / Webcast Details

Date: Monday, November 8, 2021

Time: 4:00PM Taiwan (3:00AM New York)

Dial-In: +886-2-21928016

Password: 655980 #

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:

The Company will provide an English translation audio and transcript of the conference call on its website following the Mandarin conference call to help ensure transparency, and to facilitate a better understanding of the Company’s 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

November 2021 Industry Leading Provider of Outsourced Semiconductor Assembly, Test & Bumping Services Q3’21 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 Q3’21 Operating Results S.J. Cheng Q3’21 Financial Results Silvia Su Q4’21 Business Outlook S.J. Cheng Q&A


Slide 4

Q3’21 Operating Results


Slide 5

Revenue: Q3: NT$7,161.0M (QoQ +2.6%, YoY +25.9%) new quarterly record high Q1~Q3’21: NT$20,608.6M (YoY +23.4%) Gross Margin: Q3: 27.3% (QoQ -0.9ppts, YoY +8.0ppts) Revenue & Gross Margin 5


Slide 6

Utilization Rate 6 Q3’21: 90% Q2’21: 94% Q3’20: 80% Q3’21: 84% Q2’21: 86% Q3’20: 85% Q3’21: 80% Q2’21: 79% Q3’20: 76% Q3’21: 85% Q2’21: 87% Q3’20: 79% Q3’21: 85% Q2’21: 87% Q3’20: 75%


Slide 7

Q3’21 Revenue Breakdown Product Segment Manufacturing Site


Slide 8

Revenue Breakdown - Memory 8 Q3’21: 43.5% (QoQ: +3.5%, YoY: +31.9%)


Slide 9

Revenue Breakdown - DDIC + Gold Bump 9 Q3’21: 45.4% (QoQ: +2.6%, YoY: +15.5%)


Slide 10

Revenue Breakdown - Application 10 DDIC & Gold bump Memory & Mixed-signal Content Performance of Q3’21 Smart Mobile 33.5% TV 16.5% Computing 11% Auto/Industrial 15% Consumer 24% Smart phone Wearable UHD/4K TV 8K TV OLED TV NB/Tablet PC / server SSD In-car infotainment ADAS / sensor Game Smart speaker DSC, STB TWS


Slide 11

Q3’21 Financial Results


Slide 12

Consolidated Operating Results Summary


Slide 13

Consolidated Statements of Comprehensive Income Note (1) : QoQ: Difference mainly due to the increase of the share of gain of associates accounted for using equity method of NT$85M, the decrease of foreign exchange losses of NT$62M and the increase of gain on valuation of financial assets at fair value through profit or loss of NT$15M. YoY: Difference mainly due to the increase of the share of gain of associates accounted for using equity method of NT$201M and the decrease of foreign exchange losses of NT$112M.


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$1,820M and depreciation expenses of NT$364M and partially offset by the increase of CapEx of NT$1,494M, income tax expenses of NT$329M and cash dividend paid of NT$291M.


Slide 16

Capital Expenditures & Depreciation CapEX: Q3 NT$1,171.2M Depreciation: Q3 NT$1,196.1M


Slide 17

Q4’21 Business Outlook


Slide 18

Demand across all end markets expected to remain generally healthy. OSAT ASPs likely to increase in Q4 led by product mix optimization. Industry working to ease supply imbalance & Capacity is expected to remain tight. Cautious outlook for Q4 given broader market uncertainty and challenges. Memory: Conservative Outlook Semiconductor supply imbalance, China power shortages and other macro factors impacting. Consumer and Automotive demand continues to increase led by drive to incorporate AI and automation. DDIC: Cautiously optimistic Outlook Non-linear wafer supply causing utilization level fluctuations.   ASP increases driven by customer product mix optimization. OLED demand remains strong with volumes continuing to increase. Market & Business Outlook


Slide 19

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