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 August, 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: August 4, 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 August 4, 2022.
99.2    ChipMOS second quarter 2022 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 SECOND QUARTER 2022 RESULTS

 

   

Revenue Increases 1.9% Compared to 1Q22

 

   

Gross Margin Increases 40 Basis Points from 1Q22 to 25.4%

 

   

Net Earnings Increase to NT$1.82 or US$0.06 per Basic Common Share or US$1.22 per Basic ADS, up 8.3% Compared to 1Q22

 

   

Strong Free Cash Flow of US$78.0 Million in the First Half of 2022, with a Further Expansion of Cash and Cash Equivalents Balance to US$244.4 Million

 

   

Distributed Cash Dividend of NT$4.3 Per Common Share on July 20, 2022 and US$2.876 Per ADS on July 27, 2022

Hsinchu, Taiwan – August 4, 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 second quarter ended June 30, 2022. All U.S. dollar figures cited in this press release are based on the exchange rate of NT$29.74 against US$1.00 as of June 30, 2022.

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

Revenue for the second quarter of 2022 was NT$6,851.7 million or US$230.4 million, an increase of 1.9% from NT$6,725.2 million or US$226.1 million in the first quarter of 2022 and a decrease of 1.9% from NT$6,982.3 million or US$234.8 million for the same period in 2021.

Net non-operating income in second quarter of 2022 was NT$308.9 million or US$10.4 million, compared to NT$229.0 million or US$7.7 million in the first quarter of 2022, and net non-operating expenses of NT$18.9 million or US$0.6 million in the second quarter of 2021. Second quarter 2022 results benefitted from a foreign exchange gain of NT$82 million or US$2.8 million, share of profit of associates accounted for using equity method of NT$41 million or US$1.4 million and a NT$10 million or US$0.3 million decrease in finance expense compare to the prior quarter. This was partially offset by an increase of loss on valuation of financial assets at fair value through profit or loss of NT$54 million or US$1.8 million.

Net profit attributable to equity holders of the Company for the second quarter of 2022 was NT$1,320.6 million or US$44.4 million, and NT$1.82 or US$0.06 per basic common share, as compared to NT$1,224.7 million or US$41.2 million, and NT$1.68 or US$0.06 per basic common share in the first quarter of 2022, and NT$1,283.6 million or US$43.2 million, and NT$1.76 or US$0.06 per basic common share in the second quarter of 2021. Net earnings for the second quarter of 2022 were US$1.22 per basic ADS, compared to US$1.13 per basic ADS for the first quarter of 2022 and US$1.19 per basic ADS in the second quarter of 2021.

Free cash flow for the first half of 2022 was NT$2,321.0 million or US$78.0 million, with a balance of cash and cash equivalents was NT$7,269.6 million or US$244.4 million.

 

-1-


LOGO

Second Quarter 2022 Investor Conference Call / Webcast Details

Date: Thursday, August 4, 2022

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

Dial-In: +886-2-21928016

Password: 856969 #

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 transcript will be provided on the Company’s 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) (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 leading fabless semiconductor companies, integrated device manufacturers and independent semiconductor foundries serving virtually all end markets worldwide.

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. 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

August 2022 Industry Leading Provider of Outsourced Semiconductor Assembly, Test & Bumping Services Q2’22 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. 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 Q2’22 Operating Results S.J. Cheng Q2’22 Financial Results Silvia Su Q3’22 Business Outlook S.J. Cheng Q&A


Slide 4

Q2’22 Operating Results


Slide 5

Revenue: NT$6,851.7M (QoQ: +1.9%, YoY: -1.9%) Gross Margin: 25.4% (QoQ: +0.4ppts, YoY: -2.8ppts) Revenue & Gross Margin 5


Slide 6

Utilization Rate 6 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. Q2’22: 69% Q1’22: 69% Q2’21: 94% Q2’22: 77% Q1’22: 86% Q2’21: 86% Q2’22: 80% Q1’22: 87% Q2’21: 79% Q2’22: 75% Q1’22: 79% Q2’21: 87% Q2’22: 75% Q1’22: 73% Q2’21: 87% *


Slide 7

Q2’22 Revenue Breakdown Product Manufacturing Site


Slide 8

Revenue Breakdown — Memory 8 Q2’22: 40.5% (QoQ: +1.5%, YoY: -7.7%)


Slide 9

Revenue Breakdown — DDIC + Gold Bump 9 Q2’22: 48.8% (QoQ: +0.5%, YoY: +5.2%)


Slide 10

Revenue Breakdown — End Market 10 DDIC & Gold bump Memory & Mixed-signal Content Performance of Q2’22 Smart Mobile 27.2% (-8.9%) TV 17.8% (+8.2%) Computing 8.6% (-9.0%) Auto/Industry 19.7% (+20.4%) Consumer 26.7% (+2.6%) Smart phone Wearable UHD/4K/8K TV OLED TV NB/Tablet PC / Server SSD In-car infotainment ADAS / sensor Game, TWS Smart speaker DSC, STB


Slide 11

Q2’22 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 foreign exchange gains of NT$82M, share of profit of associates accounted for using equity method of NT$41M and the decrease of finance expense of NT$10M and partially offset by the increase of loss on valuation of financial assets at fair value through profit or loss of NT$54M. YoY: Difference mainly due to the increase of the foreign exchange gains of NT$289M and share of profit of associates accounted for using equity method of NT$76M and partially offset by the increase of loss on valuation of financial assets at fair value through profit or loss of NT$48M.


Slide 14

Consolidated Statements of Financial Position & Key Indices


Slide 15

Consolidated Statements of Cash Flows Note (1): Difference mainly due to the decrease of CapEx of NT$671M and increase of depreciation expenses of NT$102M and partially offset by the decrease of operating profit of NT$190M and increase of income tax expense of NT$39M.


Slide 16

Capital Expenditures & Depreciation CapEx: NT$1,400.8M (Q2’22) Depreciation: NT$1,197.3M (Q2’22)


Slide 17

Q3’22 Business Outlook


Slide 18

Near-term semiconductor supply chain inventory increase reflects global inflation, consumer electronics macro softness Ongoing China lock-downs potentially worsening semiconductor supply chain inventory Company taking conservative approach with cautiously restrained CapEx to reduce depreciation and maintain UT level Memory: Momentum remains similar DRAM: Driven by new product and Niche DDR3 production increases Flash: Driven by normal seasonal demand DDIC: Customer demand slowing Offset by customers optimizing product mix and take or pay contracts OLED and automotive panel demand slightly down Shifting 2H22 high-end test capacity to 2023 Market & Business Outlook


Slide 19

Q&A www.chipmos.com