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 February, 2025
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: February 25, 2025 |
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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 |
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Exhibit 99.1 |
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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 FOURTH QUARTER AND FULL YEAR 2024 RESULTS
•6.3% Increase in Full Year 2024 Revenue Compared to Prior Year
•13.0% Full Year 2024 Gross Margin Compared to 16.6% in 2023
•Full Year 2024 Net Earnings of NT$1.95 per Basic Common Share or US$1.19 per Basic ADS Compared to Net Earnings of NT$2.60 per Basic Common Share or US$1.59 per Basic ADS for the Full Year 2023
•Strong Financial Position and Liquidity with NT$15,219.0 Million or US$464.1 Million Balance of Cash and Cash Equivalents
•Dividend of NT$1.2 per Common Share Authorized by Board Pending Shareholder Approval at May 2025 AGM
•NT$350 Million Share Repurchase Program Announced
Hsinchu, Taiwan – February 25, 2025 - 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 fourth quarter and the full year ended December 31, 2024. All U.S. dollar figures cited in this press release are based on the exchange rate of NT$32.79 against US$1.00 as of December 31, 2024.
All the figures were prepared in accordance with Taiwan-International Financial Reporting Standards (“Taiwan-IFRS”).
Revenue for the fourth quarter of 2024 was NT$5,399.6 million or US$164.7 million, a decrease of 11.0% from NT$6,068.0 million or US$185.1 million in the third quarter of 2024 and a decrease of 5.7% from NT$5,725.4 million or US$174.6 million for the same period in 2023. Revenue for the fiscal year ended December 31, 2024 was NT$22,695.9 million or US$692.2 million, an increase of 6.3% from NT$21,356.2 million or US$651.3 million for the fiscal year ended December 31, 2023.
Net non-operating income in the fourth quarter of 2024 was NT$154.6 million or US$4.7 million, compared to net non-operating expenses of NT$65.3 million or US$2.0 million in the third quarter of 2024, and net non-operating expenses of NT$137.0 million or US$4.2 million in the fourth quarter of 2023.
Net non-operating income of the Company for the fiscal year ended December 31, 2024 was NT$373.1 million or US$11.4 million, compared to NT$359.8 million or US$11.0 million for the fiscal year ended December 31, 2023.
Net profit attributable to equity holders of the Company for the fourth quarter of 2024 was NT$232.2 million or US$7.1 million, and NT$0.32 or US$0.01 per basic common share, as compared to NT$299.4 million or US$9.1 million, and NT$0.41 or US$0.01 per basic common share in the third quarter of 2024. This compares to NT$482.0 million or US$14.7 million, and NT$0.66 or US$0.02 per basic common share in the fourth quarter of 2023. Net earnings for the fourth quarter of 2024 were US$0.19 per basic ADS, compared to US$0.25 per basic ADS for the third quarter of 2024 and US$0.40 per basic ADS in the fourth quarter of 2023.
Net profit attributable to equity holders of the Company for the fiscal year ended December 31, 2024 was NT$1,420.0 million or US$43.3 million, and NT$1.95 or US$0.06 per basic common share, compared to net profit attributable to equity holders of the Company for the fiscal year ended December 31, 2023 was NT$1,893.4 million or US$57.7 million, and NT$2.60 or US$0.08 per basic common share. Net earnings for the fiscal year ended December 31, 2024 were US$1.19 per basic ADS, compared to US$1.59 per basic ADS for the fiscal year ended December 31, 2023.
Net free cash outflow for the fiscal year ended December 31, 2024 was NT$938.3 million or US$28.6 million, primarily in support of capacity additions in the Company’s long-term growth segments, with a strong balance of cash and cash equivalents was NT$15,219.0 million or US$464.1 million.
Fourth Quarter and Full Year 2024 Investor Conference Call / Webcast Details
Date: Tuesday, February 25, 2025
Time: 3:00PM Taiwan (2:00AM New York)
Dial-In: +886-2-33961191
Password: 3119025 #
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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February 2025 Industry Leading Provider of Outsourced Semiconductor Assembly, Test & Bumping Services 4Q24 & Full Year Results Conference Exhibit 99.2
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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.
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Agenda Welcome 4Q24/FY2024 Operating Results S.J. Cheng 4Q24/FY2024 Financial Results Silvia Su Business Outlook S.J. Cheng Q&A
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4 4Q24/FY2024 Operating Results
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4Q24 Revenue: NT$5,399.6M (QoQ: -11.0%, YoY: -5.7%) Gross Margin: 9.5% (QoQ: -4.4ppts, YoY: -10.6ppts) 2024 Revenue: NT$22,695.9M (YoY: 6.3%) Gross Margin: 13.0% (YoY: -3.6ppts) Revenue & Gross Margin 5
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Utilization Rate 6 4Q24: 54% 3Q24: 58% 4Q23: 57% 4Q24: 54% 3Q24: 66% 4Q23: 53% 4Q24: 65% 3Q24: 75% 4Q23: 71% 4Q24: 59% 3Q24: 67% 4Q23: 62% 4Q24: 61% 3Q24: 67% 4Q23: 61%
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4Q24 Revenue Breakdown Product Manufacturing Site
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Revenue Breakdown - Memory 8 4Q24: 38.7% (QoQ: -6.2%, YoY: -1.3%)
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Revenue Breakdown - DDIC + Gold Bump 9 4Q24: 50.9% (QoQ: -15.6%, YoY: -12.8%)
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Revenue Breakdown - End Market 10 DDIC & Gold bump Memory & Mixed-signal Content Performance of 4Q24 Smart Mobile 37.2% (QoQ -17.1%) TV 14.9% (QoQ -19.6%) Computing 4.4% (QoQ +15%) Auto/Industry 23.5% (QoQ -2.6%) Consumer 20.0% (QoQ -9.9%) 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
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11 4Q24/FY2024 Financial Results
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Consolidated Operating Results Summary
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Consolidated Statements of Comprehensive Income Note (1) : QoQ: Difference mainly due to the positive foreign exchange impact of NT$210M from the foreign exchange losses of NT$73M in 3Q24 to foreign exchange gains of NT$137M in 4Q24. YoY: Difference mainly due to the positive foreign exchange impact of NT$332M from the foreign exchange losses of NT$195M in 4Q23 to the foreign exchange gains of NT$137M in 4Q24 and the increase of interest income of NT$14M and partially offset by the adverse impact of share of associates accounted for using equity method of NT$57M from share of profit of associates accounted for using equity method of NT$56M in 4Q23 to share of loss of associates accounted for using equity method NT$0.6M in 4Q24.
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Consolidated Statements of Comprehensive Income
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Consolidated Statements of Financial Position & Key Indices
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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$2,223M.
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Capital Expenditures & Depreciation 17 CapEx: NT$1,871.5M (4Q24);NT$5,451.4M (2024) Depreciation: NT$1,271.1M (4Q24);NT$4,856.2M (2024)
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18 Business Outlook
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Market & Business Outlook Expect normal Q1 seasonal effect including fewer working days for Lunar New Year Strategically prioritizing improve UT level Cautiously adding new capacity based on UT level and customer demand Global economic situation reflects uncertainty of new and potential policies, implementation and impact of tariffs, trade tensions, inflation and prolonged higher interest rates. Memory: Momentum impacted by Q1 little correction softness Niche DRAM and NAND Flash demand is rebounding DDIC: Potential slight Q1 correction expected to be less than Memory Rush orders from early re-stocking ahead of potential tariffs, and China’s subsidy and stimulus programs
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Q&A www.chipmos.com
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