Innolux Reports NT$6.7 Billion Profit for 2024, Plans U.S. Listing of CarUX Subsidiary
24 March 2025 · Uncategorized ·
Source: · https://finance.technews.tw/2025/03/14/innolux-2024-q4-earnings/
Innolux Corporation announced a profitable full year in 2024 and plans to list its CarUX subsidiary on U.S. exchanges, news welcomed by shareholders during an earnings conference call held on the 14th.
The company benefited from increased demand driven by international sporting events and China’s consumption subsidy policies for trade-ins in 2024, resulting in a 2.3% annual revenue increase. Innolux achieved full-year gross margins of 6.5% and an EBITDA profit rate of 10.7%. A gain from the sale of a factory during Q4, coupled with positive earnings per share (EPS) figures in both Q2 and Q3, contributed to a net income of NT$6.7 billion for full-year 2024.
Innolux Chairman and CEO Hung Chin-Yang stated that recent company strategies have focused on maximizing asset value while improving revenue generation and operational efficiency. Reflecting its profitability in 2024, Innolux intends to distribute a cash dividend of NT$1 per share pending shareholder approval.
Market expectations surrounding fan-out wafer-level packaging (FOPLP) are high, with anticipation that it will accelerate the production volume and reduce costs for large-scale AI chips. Innolux is collaborating with IC supply chain partners, leveraging each partner’s strengths to meet growing demand for advanced semiconductor products.
The company also announced its board election nominations for 2025, including Heng Kang Technology Chairman Xie Yongfen and former Taipei CPA Association Councilor Zhang Fenggan as independent directors. Innolux CEO Hung Chin-Yang emphasized that the composition of the Board aims to maximize shareholder interests by considering talent pools, ESG perspectives, and transformation viewpoints—without forming a “Hung clique.”
To further expand its smart cockpit visual solutions business, CarUX plans to apply for an initial public offering (IPO) on either NASDAQ or NYSE in 2025. This would mark Innolux’s first overseas listed subsidiary; specific timelines and details are currently under evaluation.
Innolux CEO Hung Chin-Yang expressed hope that CarUX's international listing will "bring glory" to the country, noting its full-year revenue of nearly $1.6 billion in 2024 with a gross profit approaching $200 million and net income around $78.9 million.
The IPO is expected to provide operational capital, strengthen financial structures and financing capabilities, attract top international talent, and enhance overall competitiveness. Innolux maintains majority ownership of CarUX through its wholly-owned subsidiary, Innolux Hong Kong Holding Limited, ensuring continued control over the company's operations.
In Q4, consolidated revenue totaled NT$537 billion with an operating loss of NT$43 billion but a net profit after tax of NT$91 billion—resulting in earnings per share (EPS) of NT$1.13. Depreciation and amortization reached NT$76 billion while capital expenditures amounted to NT$39 billion.
For the full year 2024, consolidated revenue was NT$2,165 billion with an operating loss of NT$79 billion but a net profit after tax of NT$6.7 billion—yielding EPS of NT$0.76 per share. Q4 overall shipment area decreased by 1.3% from the previous quarter to six million square meters; LCD panel prices averaged $273 USD per square meter.
Breaking down revenue by product application: TV accounted for 33%, automotive products contributed 25%, portable computers represented 20%, mobile and commercial devices comprised 18%, and desktop monitors made up 4%. By size, the distribution was as follows: under ten inches (19%), between ten to twenty inches (32%), from twenty-one to thirty inches (12%), thirty-one to forty inches (7%), and over forty inches (30%).
(Image source: TechNews)
The company benefited from increased demand driven by international sporting events and China’s consumption subsidy policies for trade-ins in 2024, resulting in a 2.3% annual revenue increase. Innolux achieved full-year gross margins of 6.5% and an EBITDA profit rate of 10.7%. A gain from the sale of a factory during Q4, coupled with positive earnings per share (EPS) figures in both Q2 and Q3, contributed to a net income of NT$6.7 billion for full-year 2024.
Innolux Chairman and CEO Hung Chin-Yang stated that recent company strategies have focused on maximizing asset value while improving revenue generation and operational efficiency. Reflecting its profitability in 2024, Innolux intends to distribute a cash dividend of NT$1 per share pending shareholder approval.
Market expectations surrounding fan-out wafer-level packaging (FOPLP) are high, with anticipation that it will accelerate the production volume and reduce costs for large-scale AI chips. Innolux is collaborating with IC supply chain partners, leveraging each partner’s strengths to meet growing demand for advanced semiconductor products.
The company also announced its board election nominations for 2025, including Heng Kang Technology Chairman Xie Yongfen and former Taipei CPA Association Councilor Zhang Fenggan as independent directors. Innolux CEO Hung Chin-Yang emphasized that the composition of the Board aims to maximize shareholder interests by considering talent pools, ESG perspectives, and transformation viewpoints—without forming a “Hung clique.”
To further expand its smart cockpit visual solutions business, CarUX plans to apply for an initial public offering (IPO) on either NASDAQ or NYSE in 2025. This would mark Innolux’s first overseas listed subsidiary; specific timelines and details are currently under evaluation.
Innolux CEO Hung Chin-Yang expressed hope that CarUX's international listing will "bring glory" to the country, noting its full-year revenue of nearly $1.6 billion in 2024 with a gross profit approaching $200 million and net income around $78.9 million.
The IPO is expected to provide operational capital, strengthen financial structures and financing capabilities, attract top international talent, and enhance overall competitiveness. Innolux maintains majority ownership of CarUX through its wholly-owned subsidiary, Innolux Hong Kong Holding Limited, ensuring continued control over the company's operations.
In Q4, consolidated revenue totaled NT$537 billion with an operating loss of NT$43 billion but a net profit after tax of NT$91 billion—resulting in earnings per share (EPS) of NT$1.13. Depreciation and amortization reached NT$76 billion while capital expenditures amounted to NT$39 billion.
For the full year 2024, consolidated revenue was NT$2,165 billion with an operating loss of NT$79 billion but a net profit after tax of NT$6.7 billion—yielding EPS of NT$0.76 per share. Q4 overall shipment area decreased by 1.3% from the previous quarter to six million square meters; LCD panel prices averaged $273 USD per square meter.
Breaking down revenue by product application: TV accounted for 33%, automotive products contributed 25%, portable computers represented 20%, mobile and commercial devices comprised 18%, and desktop monitors made up 4%. By size, the distribution was as follows: under ten inches (19%), between ten to twenty inches (32%), from twenty-one to thirty inches (12%), thirty-one to forty inches (7%), and over forty inches (30%).
(Image source: TechNews)