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, 2022

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 5, 2022    

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 5, 2022.
99.2    ChipMOS first quarter 2022 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 FIRST QUARTER 2022 RESULTS

 

   

Revenue Increases 4% in 1Q22 Compared to 1Q21

 

   

25% Gross Margin Increases 80 Basis Points from 1Q21 Despite Global Inflation and Supply Chain Constraints

 

   

Net Earnings Increase 27% in 1Q22 Compared to 1Q21, with 1Q22 Reaching NT$1.68 or US$0.06 per Basic Common Share or US$1.18 per Basic ADS

 

   

Free Cash Flow of US$53.7 Million in 1Q22, with Further Expansion of Cash and Cash Equivalents Balance to US$219.7 Million

 

   

Dividend of NT$4.3 Per Common Share Approved by the ChipMOS’ Board of Directors Pending Shareholder Approval at May 2022 AGM

Hsinchu, Taiwan – May 5, 2022 - 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, 2022. All U.S. dollar figures cited in this press release are based on the exchange rate of NT$28.62 against US$1.00 as of March 31, 2022.

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

Revenue for the first quarter of 2022 was NT$6,725.2 million or US$235.0 million, a decrease of 1.0% from NT$6,791.4 million or US$237.3 million in the fourth quarter of 2021 and an increase of 4.0% from NT$6,465.3 million or US$225.9 million for the same period in 2021.

Net non-operating income in first quarter of 2022 was NT$229.0 million or US$8.0 million, compared to NT$319.3 million or US$11.2 million in the fourth quarter of 2021, and NT$25.3 million or US$0.9 million in the first quarter of 2021. The decrease compared to the fourth quarter of 2021 is mainly due to a decrease in the share of profit of associates accounted for using equity method of NT$240 million or US$8.4 million and the increase of financial costs of NT$3 million or US$0.1 million. This was partially offset by an increase in foreign exchange gains of NT$154 million or US$5.4 million. The increase compared to the first quarter of 2021 reflects the higher foreign exchange gains noted in the first quarter of 2022 and increased share of profit of associates accounted for using equity method, partially offset by the decrease of gain on valuation of financial assets at fair value through profit or loss.

Net profit attributable to equity holders of the Company for the first quarter of 2022 was NT$1,224.7 million or US$42.8 million, and NT$1.68 or US$0.06 per basic common share, as compared to NT$1,417.5 million or US$49.5 million, and NT$1.95 or US$0.07 per basic common share in the fourth quarter of 2021. This compares to NT$959.1 million or US$33.5 million, and NT$1.32 or US$0.05 per basic common share in the first quarter of 2021. Net earnings for the first quarter of 2022 were US$1.18 per basic ADS, compared to US$1.36 per basic ADS for the fourth quarter of 2021 and US$0.92 per basic ADS in the first quarter of 2021. The Company continues to focus on profitably supporting the higher demand levels it is benefiting from, as it works to offset the headwinds from global inflation and supply chain constraints.

Free cash flow for the first quarter of 2022 was NT$1,536.3 million or US$53.7 million, with a balance of cash and cash equivalents was NT$6,288.0 million or US$219.7 million.


LOGO

 

First Quarter 2022 Investor Conference Call / Webcast Details

Date: Thursday, May 5, 2022

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

Dial-In: +886-2-21928016

Password: 894606 #

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 a transcript in English 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 is known for its track record of excellence and history of innovation. The Company provides end-to-end 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, strategies, 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 2022 Industry Leading Provider of Outsourced Semiconductor Assembly, Test & Bumping Services Q1’22 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, strategies, 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 Q1’22 Operating Results S.J. Cheng Q1’22 Financial Results Silvia Su Q2’22 Business Outlook S.J. Cheng Q&A


Slide 4

Q1’22 Operating Results


Slide 5

Revenue: NT$6,725.2M (QoQ -1.0%, YoY +4.0%) Gross Margin: 25.0% (QoQ: -1.0ppts, YoY: +0.8ppts) Revenue & Gross Margin 5


Slide 6

Utilization Rate 6 Q1’22: 69% Q4’21: 67% Q1’21: 95% Q1’22: 86% Q4’21: 83% Q1’21: 88% Q1’22: 87% Q4’21: 78% Q1’21: 81% Q1’22: 79% Q4’21: 76% Q1’21: 86% Q1’22: 73% Q4’21: 80% Q1’21: 81% Note: To effectively reflect changes in product characteristic and mix, the utilization calculation target of manufacturing site, which output calculated by wafer quantity, was changed to run time from wafer quantity since Q1’22.


Slide 7

Q1’22 Revenue Breakdown Product Manufacturing Site


Slide 8

Revenue Breakdown - Memory 8 Q1’22: 40.7% (QoQ: +0.7%, YoY: -2.4%)


Slide 9

Revenue Breakdown - DDIC + Gold Bump 9 Q1’22: 49.4% (QoQ: -1.1%, YoY: +9.7%)


Slide 10

Revenue Breakdown - Application 10 DDIC & Gold bump Memory & Mixed-signal Content Performance of Q1’22 Smart Mobile 30.7% TV 17% Computing 9.6% Auto/Industrial 16.7% Consumer 26% 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

Q1’22 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 share of profit of associates accounted for using equity method of NT$240M and the increase of financial costs of NT$3M and partially offset by the increase of foreign exchange gains of NT$154M. YoY: Difference mainly due to the increase of the foreign exchange gains of NT$152M and share of profit of associates accounted for using equity method of NT$58M and partially offset by the decrease of gain on valuation of financial assets at fair value through profit or loss of NT$6M.


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$73M, depreciation expenses of NT$61M and the decrease of CapEx of NT$486M and partially offset by the increase of income tax expense of NT$11M .


Slide 16

Capital Expenditures & Depreciation CapEX: NT$624.1M Depreciation: NT$1,188.2M


Slide 17

Q2’22 Business Outlook


Slide 18

Global inflation and higher raw materials costs impact end demand Geopolitics and China Lock-downs could impact consumer confidence and semiconductor supply chain Cautiously improve with healthy demand continuing in Q2 Memory: DRAM: Momentum remains healthy Flash: Customers re-stocking inventory; Heathy demand momentum DDIC: OLED and automotive panel demand remains firm Continuous high UT level of high end test capacity Strategically extend test capacity; Sign take or pay contracts Market & Business Outlook


Slide 19

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