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, 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.
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Dated: November 3, 2022 |
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ChipMOS TECHNOLOGIES INC. (Registrant) |
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By: |
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/S/ S. J. Cheng |
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Name: |
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S. J. Cheng |
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Title: |
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Chairman & President |
EXHIBIT INDEX
Exhibit Number |
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Description |
99.1 |
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99.2 |
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ChipMOS third quarter 2022 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 THIRD QUARTER 2022 RESULTS
Hsinchu, Taiwan – November 3, 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 third quarter ended September 30, 2022, which were adversely impacted by global inflationary pressures, inventory adjustments and macro weakness. All U.S. dollar figures cited in this press release are based on the exchange rate of NT$31.78 against US$1.00 as of September 30, 2022.
All the figures were prepared in accordance with Taiwan-International Financial Reporting Standards (“Taiwan-IFRS”).
Revenue for the third quarter of 2022 was NT$5,254.0 million or US$165.3 million, a decrease of 23.3% from NT$6,851.7 million or US$215.6 million in the second quarter of 2022 and a decrease of 26.6% from NT$7,161.0 million or US$225.3 million for the same period in 2021.
Net non-operating income in third quarter of 2022 was NT$403.3 million or US$12.7 million, compared to NT$308.9 million or US$9.7 million in the second quarter of 2022, and NT$147.5 million or US$4.6 million in the third quarter of 2021. Third quarter 2022 results benefitted from foreign exchange gains of NT$74 million or US$2.3 million and the decrease of loss on valuation of financial assets at fair value through profit or loss of NT$18 million or US$0.6 million compared to the prior quarter. The increase compared to the third quarter of 2021 reflects the higher foreign exchange gains of NT$301 million or US$9.5 million and partially offset by the increase of loss on valuation of financial assets at fair value through profit or loss of NT$44 million or US$1.4 million.
Net profit attributable to equity holders of the Company for the third quarter of 2022 was NT$671.8 million or US$21.1 million, and NT$0.92 or US$0.03 per basic common share, as compared to NT$1,320.6 million or US$41.6 million, and NT$1.82 or US$0.06 per basic common share in the second quarter of 2022, and NT$1,398.9 million or US$44.0 million, and NT$1.93 or US$0.06 per basic common share in the third quarter of 2021. Net earnings for the third quarter of 2022 were US$0.58 per basic ADS, compared to US$1.14 per basic ADS for the second quarter of 2022 and US$1.21 per basic ADS in the third quarter of 2021.
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Free cash flow for the first nine months of 2022 was negative NT$427.9 million or US$13.5 million, with a balance of cash and cash equivalents was NT$7,468.3 million or US$235.0 million.
Third Quarter 2022 Investor Conference Call / Webcast Details
Date: Thursday, November 3, 2022
Time: 3:00PM Taiwan (3:00AM New York)
Dial-In: +886-2-21928016
Password: 588338 #
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: A transcript will be provided on the Company’s website in English following the 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.
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November 2022 Industry Leading Provider of Outsourced Semiconductor Assembly, Test & Bumping Services Q3’22 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, 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.
Agenda Welcome Q3’22 Operating Results S.J. Cheng Q3’22 Financial Results Silvia Su Q4’22 Business Outlook S.J. Cheng Q&A
4 Q3’22 Operating Results
Revenue: NT$5,254.0M (QoQ: -23.3%, YoY: -26.6%) Gross Margin: 15.5% (QoQ: -9.9ppts, YoY: -11.8ppts) Revenue & Gross Margin 5
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. * Q3’22: 64% Q2’22: 69% Q3’21: 90% Q3’22: 46% Q2’22: 77% Q3’21: 84% Q3’22: 49% Q2’22: 80% Q3’21: 80% Q3’22: 57% Q2’22: 75% Q3’21: 85% Q3’22: 63% Q2’22: 75% Q3’21: 85%
Q3’22 Revenue Breakdown Product Manufacturing Site
Revenue Breakdown － Memory 8 Q3’22: 46.7% (QoQ: -10.9%, YoY: -21.2%)
Revenue Breakdown － DDIC + Gold Bump 9 Q3’22: 41.6% (QoQ: -34.6%, YoY: -32.9%)
Revenue Breakdown － End Market
11 Q3’22 Financial Results
Consolidated Operating Results Summary
Consolidated Statements of Comprehensive Income Note (1) : QoQ: Difference mainly due to the increase of the foreign exchange gains of NT$74M and the decrease of loss on valuation of financial assets at fair value through profit or loss of NT$18M. YoY: Difference mainly due to the increase of the foreign exchange gains of NT$301M and partially offset by the increase of loss on valuation of financial assets at fair value through profit or loss of NT$44M.
Consolidated Statements of Financial Position & Key Indices
Consolidated Statements of Cash Flows Note (1): Difference mainly due to the increase of cash dividend paid of NT$1,527M and decrease of operating profit of NT$1,321M and partially offset by the decrease of CapEx of NT$780M, income tax expense of NT$109M and increase of depreciation expenses of NT$106M.
Capital Expenditures & Depreciation CapEx: NT$1,062.8M (Q3’22) Depreciation: NT$1,200.1M (Q3’22) 16
17 Q4’22 Business Outlook
Global inflationary pressures, inventory adjustments and macro weakness adversely impact demand Executing ongoing cost reduction and cost control actions Conservative FY23 CapEx plan; No need to adding capacity Memory: Momentum continues to be impacted by ongoing inventory correction DDIC: Momentum slowed by demand weakness and inventory correction OLED and automotive panel demand is stable compared to other DDIC Market & Business Outlook
Q&A www.chipmos.com