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, 2024
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 9, 2024 |
|
|
|
ChipMOS TECHNOLOGIES INC. (Registrant) |
||
|
|
|
|
|||
|
|
|
|
By: |
|
/S/ S. J. Cheng |
|
|
|
|
Name: |
|
S. J. Cheng |
|
|
|
|
Title: |
|
Chairman & President |
EXHIBIT INDEX
Exhibit Number |
|
Description |
99.1 |
|
|
99.2 |
|
ChipMOS first quarter 2024 conference call presentation material. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
-1-
|
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 FIRST QUARTER 2024 RESULTS
Hsinchu, Taiwan – May 9, 2024 - 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, 2024. All U.S. dollar figures cited in this press release are based on the exchange rate of NT$31.93 against US$1.00 as of March 29, 2024.
All the figures were prepared in accordance with Taiwan-International Financial Reporting Standards (“Taiwan-IFRS”).
Revenue for the first quarter of 2024 was NT$5,418.7 million or US$169.7 million, a decrease of 5.4% from NT$5,725.4 million or US$179.3 million in the fourth quarter of 2023 and an increase of 17.7% from NT$4,605.1 million or US$144.2 million for the same period in 2023.
Net non-operating income in the first quarter of 2024 was NT$156.3 million or US$4.9 million, compared to net non-operating expenses of NT$137.0 million or US$4.3 million in the fourth quarter of 2023. The increase of net non-operating income compared to the fourth quarter of 2023 is mainly due to an increase of the foreign exchange gains of NT$348 million or US$10.9 million from the foreign exchange losses of NT$195 million or US$6.1 million in the fourth quarter of 2023 to the foreign exchange gains of NT$153 million or US$4.8 million in the first quarter of 2024 and partially offset by the decrease of share of profit of associates accounted for using equity method of NT$55 million or US$1.7 million. Net non-operating income was NT$43.5 million or US$1.4 million in the first quarter of 2023. The difference is mainly due to an increase of the foreign exchange gains of NT$197 million or US$6.2 million from the foreign exchange losses of NT$44 million or US$1.4 million in the first quarter of 2023 to the foreign exchange gains of NT$153 million or US$4.8 million in the first quarter of 2024 and partially offset by the decrease of share of profit of associates accounted for using equity method of NT$44 million or US$1.4 million, rental income of NT$16 million or US$0.5 million and interest income of NT$13 million or US$0.4 million.
Net profit attributable to equity holders of the Company for the first quarter of 2024 was NT$437.8 million or US$13.7 million, and NT$0.60 or US$0.02 per basic common share, as compared to NT$482.0 million or US$15.1 million, and NT$0.66 or US$0.02 per basic common share in the fourth quarter of 2023. This compares to NT$202.4 million or US$6.3 million, and NT$0.28 or US$0.01 per basic common share in the first quarter of 2023. Net earnings for the first quarter of 2024 were US$0.38 per basic ADS, compared to US$0.42 per basic ADS for the fourth quarter of 2023 and US$0.17 per basic ADS in the first quarter of 2023.
-1-
|
|
Net free cash flow for the first quarter of 2024 was NT$800.3 million or US$25.1 million, with a balance of cash and cash equivalents was NT$12,164.6 million or US$381.0 million. Given its strong cash position and commitment to returning capital to shareholders, the Company’s Board of Directors authorized a new dividend of NT$1.8 per common share pending shareholder approval at the Company’s May 2024 annual shareholders’ meeting.
First Quarter 2024 Investor Conference Call / Webcast Details
Date: Thursday, May 9, 2024
Time: 3:00PM Taiwan (3:00AM New York)
Dial-In: +886-2-33961191
Password: 1524509 #
Webcast and Replay: https://www.chipmos.com/chinese/ir/info2.aspx
Replay: Starts approximately 2 hours after the 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.
-2-
May 2024 Industry Leading Provider of Outsourced Semiconductor Assembly, Test & Bumping Services 1Q24 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 1Q24 Operating Results S.J. Cheng 1Q24 Financial Results Silvia Su Business Outlook S.J. Cheng Q&A
4 1Q24 Operating Results
Revenue & Gross Margin 5 Revenue: NT$5,418.7M (QoQ: -5.4%, YoY: +17.7%) Gross Margin: 14.2% (QoQ: -5.9ppts, YoY: +1.8ppts)
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 1Q22. 1Q24: 62% 4Q23: 57% 1Q23: 42% 1Q24: 61% 4Q23: 53% 1Q23: 52% 1Q24: 67% 4Q23: 71% 1Q23: 58% 1Q24: 63% 4Q23: 62% 1Q23: 52% 1Q24: 60% 4Q23: 61% 1Q23: 55%
1Q24 Revenue Breakdown Product Manufacturing Site
Revenue Breakdown － Memory 8 1Q24: 39.2% (QoQ: +1.6%, YoY: +26.4%)
Revenue Breakdown － DDIC + Gold Bump 9 1Q24: 51.1% (QoQ: -11.0%, YoY: +14.3%)
Revenue Breakdown － End Market 10 DDIC & Gold bump Memory & Mixed-signal Content Performance of 1Q24 Smart Mobile 38.4% (QoQ -10.9%) TV 15.8% (QoQ -0.3%) Computing 3.3% (QoQ -26.3%) Auto/Industry 22.0% (QoQ -1.2%) Consumer 20.5% (QoQ +6.3%) Smart phone Wearable Watch, TWS UHD/4K/8K TV OLED TV NB/Tablet PC / Server SSD In-car infotainment ADAS / sensor Game, DSC, STB Smart speaker E-paper, Internet Note: Move “Watch” & “TWS” to “ Smart Mobile” from “Consumer” since 1Q24
11 1Q24 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$348M from the foreign exchange losses of NT$195M in 4Q23 to the foreign exchange gains of NT$153M in 1Q24 and partially offset by the decrease of share of profit of associates accounted for using equity method of NT$55M. YoY: Difference mainly due to the increase of the foreign exchange gains of NT$197M from the foreign exchange losses of NT$44M in 1Q23 to the foreign exchange gains of NT$153M in 1Q24 and partially offset by the decrease of share of profit of associates accounted for using equity method of NT$44M, rental income of NT$16M and interest income of NT$13M.
Consolidated Statements of Financial Position & Key Indices
Consolidated Statements of Cash Flows Notes : Free cash flow was calculated by adding depreciation, amortization, interest income together with operating profit and then subtracting CapEx, interest expense, income tax expense and dividend from the sum. (2) Difference mainly due to the increase of CapEx of NT$319M and income tax expense of NT$55M and partially offset by the increase of operating profit of NT$178M.
Capital Expenditures & Depreciation 16 CapEx: NT$632.5M Depreciation: NT$1,181.1M
17 Business Outlook
Market & Business Outlook 1Q to be the seasonal trough quarter for 2024, and cautiously optimistic entering Q2 Expected to improve in 2024, with a stronger 2H ‘24 than 1H ’24 Careful CapEx additions, including DDIC high end test platform in 2H’24 Memory: DRAM and Flash Customer’s inventory rebuilding improves UT level of Assembly & Test DDIC: Momentum better than Memory Auto panel and OLED demand stabilizing, leading high UT level of high-end DDIC test Benefit from rush TV orders & high UT level of related Assembly & Test
Q&A www.chipmos.com