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, 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.
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Dated: August 13, 2024 |
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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 second quarter 2024 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 SECOND QUARTER 2024 RESULTS
Hsinchu, Taiwan – August 13, 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 second quarter ended June 30, 2024, with strong revenue growth and expansion in net earnings. All U.S. dollar figures cited in this press release are based on the exchange rate of NT$32.45 against US$1.00 as of June 28, 2024.
All the figures were prepared in accordance with Taiwan-International Financial Reporting Standards (“Taiwan-IFRS”).
Revenue for the second quarter of 2024 was NT$5,809.6 million or US$179.0 million, an increase of 7.2% from NT$5,418.7 million or US$167.0 million in the first quarter of 2024 and an increase of 6.7% from NT$5,444.1 million or US$167.8 million for the same period in 2023.
Net non-operating income in the second quarter of 2024 was NT$127.6 million or US$3.9 million, compared to NT$156.3 million or US$4.8 million in the first quarter of 2024, and NT$222.4 million or US$6.9 million in the second quarter of 2023. The decrease of net non-operating income compared to the first quarter of 2024 is mainly due to a NT$128 million or US$3.9 million reduction in foreign exchange gains, which was partially offset by a NT$72 million or US$2.2 million increase in gain on disposal of non-current assets held for sale and interest income of NT$17 million or US$0.5 million. The difference between the second quarter of 2023 is mainly due to a NT$124 million or US$3.8 million decrease in foreign exchange gains and NT$47 million or US$1.4 million decrease in share of profit of associates accounted for using equity method, which was partially offset by the increase of gain on disposal of non-current assets held for sale of NT$72 million or US$2.2 million.
Net profit attributable to equity holders of the Company for the second quarter of 2024 was NT$450.6 million or US$13.9 million, and NT$0.62 or US$0.02 per basic common share, as compared to NT$437.8 million or US$13.5 million, and NT$0.60 or US$0.02 per basic common share in the first quarter of 2024. This compares to NT$628.5 million or US$19.4 million, and NT$0.86 or US$0.03 per basic common share in the second quarter of 2023. Net earnings for the second quarter of 2024 were US$0.38 per basic ADS, compared to US$0.37 per basic ADS for the first quarter of 2024 and US$0.53 per basic ADS in the second quarter of 2023.
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Net free cash flow for the first half of 2024 was NT$1,433.4 million or US$44.2 million, with a balance of cash and cash equivalents was NT$14,651.9 million or US$451.5 million. The Company distributed a US$1.098 cash dividend per ADS (or approximately US$0.848 per ADS after the Taiwan withholding tax and Citibank, N.A.’s depositary fees) on July 26, 2024.
Second Quarter 2024 Investor Conference Call / Webcast Details
Date: Tuesday, August 13, 2024
Time: 3:00PM Taiwan (3:00AM New York)
Dial-In: +886-2-33961191
Password: 1731013 #
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.
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August 2024 Industry Leading Provider of Outsourced Semiconductor Assembly, Test & Bumping Services 2Q24 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 2Q24 Operating Results S.J. Cheng 2Q24 Financial Results Silvia Su Business Outlook S.J. Cheng Q&A
4 2Q24 Operating Results
Revenue & Gross Margin 5 Revenue: NT$5,809.6M (QoQ: +7.2%, YoY: +6.7%) Gross Margin: 14.0% (QoQ: -0.2ppts, YoY: -3.3ppts)
Utilization Rate 6 2Q24: 65% 1Q24: 62% 2Q23: 40% 2Q24: 65% 1Q24: 61% 2Q23: 60% 2Q24: 75% 1Q24: 67% 2Q23: 72% 2Q24: 69% 1Q24: 63% 2Q23: 60% 2Q24: 67% 1Q24: 60% 2Q23: 59%
2Q24 Revenue Breakdown Product Manufacturing Site
Revenue Breakdown - Memory 8 2Q24: 37.2% (QoQ: +2.4%, YoY: +17.6%)
Revenue Breakdown - DDIC + Gold Bump 9 2Q24: 52.6% (QoQ: +11.3%, YoY: -0.7%)
Revenue Breakdown - End Market 10 DDIC & Gold bump Memory & Mixed-signal Content Performance of 2Q24 Smart Mobile 35.6% (QoQ +0.2%) TV 18.7% (QoQ +27.7%) Computing 3.6% (QoQ +15.3%) Auto/Industry 23.3% (QoQ +14.7%) Consumer 18.8% (QoQ -1.0%) 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 2Q24 Financial Results
Consolidated Operating Results Summary
Consolidated Statements of Comprehensive Income Note (1) : QoQ: Difference mainly due to the decrease of the foreign exchange gains of NT$128M and partially offset by the increase of gain on disposal of non-current assets held for sale of NT$72M and interest income of NT$17M. YoY: Difference mainly due to the decrease of the foreign exchange gains of NT$124M and share of profit of associates accounted for using equity method of NT$47M and partially offset by the increase of gain on disposal of non-current assets held for sale of NT$72M.
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$486M and the decrease of depreciation expenses of NT$42M.
Capital Expenditures & Depreciation 16 CapEx: NT$858.2M Depreciation: NT$1,184.4M
17 Business Outlook
Market & Business Outlook Cautiously optimistic entering Q3 Expect a stronger 2H ‘24 with improved operation momentum. Strategic CapEx additions, 20% of annual revenue, including Memory upgraded test capacity, DDIC test capacity acquisition and factory purchase Memory: Remain stable momentum Higher momentum growth of NAND Flash and Niche DRAM compared to other memory products DDIC: Momentum better than Memory Remain high UT level of high-end tester Customers re-stocking for new smart phone launches, increase COG assembly and test UT level Acquire high-end DDIC test platform to support short capacity expansion schedule and meet demand for test capacity
Q&A www.chipmos.com