Overview

Chicony was founded in February 1983, and was listed on the Taiwan Stock Exchange in 1999 (stock code: 2385). With over 40 years of experience, the Company has established a presence across Asia (Taiwan, Mainland China, Thailand, Japan), Europe (Czech Republic), and the Americas (United States). Its subsidiaries, Chicony Power and XAVI, are also publicly listed companies in Taiwan. We adhere to the business principle of "No Quality, No Sales," providing our customers with the highest quality service while continuously generating revenue growth to meet the expectations of our stakeholders.

 

We base our business development on computer peripheral products and consumer video imaging products. Our four major product lines include input devices, portable keyboard modules, video imaging products, and camera lens modules. Among these, keyboards, webcams, and laptop camera modules have emerged as leading products in global manufacturing. We sell our finished products to downstream assembly plants or brand manufacturers that are leaders in the technology industry.

Chicony Operational Sites

D
  • A

    Management Philosophy

  • C

    Corporate Culture

  • B

    Management Approach

Operational Overview

Chicony has long operated three major divisions: keyboards, imaging, and power supplies, boasting a diversified product portfolio. With Microsoft ceasing support for the Windows 10 operating system and the gradual introduction of AI PCs, the penetration rate of LED backlit keyboards has increased. Laptops equipped with keyboards featuring Copilot keys have achieved a market share of 20%. Furthermore, the integration of additional sensors in video conferencing functions and camera modules for HPD applications, along with the increase in wattage of power supplies, positively contributes to the Company's product pricing and profitability.

 

In response to the rapid changes in the industry and external challenges in 2024, the Company is integrating group resources to focus on research, development, and sales of its established products, including keyboards, power supplies, and digital imaging. At the same time, non-PC product areas such as gaming, servers, smart homes, and satellite communications continue to develop steadily. The Company is investing resources in potential markets and high-value applications, which is expected to bring stable growth in revenue and profitability.

 

It is projected that by 2025, Chicony’s sales in computer peripherals, digital imaging, consumer electronics, and other electronic products will total approximately 181.8 million units, while its subsidiaries, Chicony Power and XAVI, are expected to sell around 132.3 million units and 3.5 million units in computer peripherals, gaming products, networking, and other electronics, respectively.

Main Products

A
Main Product Revenue
Unit: NT$1,000
B

 

 

Operational and Financial Performance

A sound financial structure is key to the sustainable operation of the Company and serves as a strong support for the ongoing implementation of various sustainability projects. Each department prepares its operating budget and capital expenditure budget annually. Following approval from the highest level of management, the operational status is reported during board meetings and various operational review meetings. This process facilitates real-time monitoring of operational performance and the progress and results of budget execution.

 

The Company hires an independent certified public accountant (CPA) to regularly audit the Company's financial status and internal controls. Furthermore, in accordance with the Corporate Governance Best Practice Principles, we evaluate the independence and suitability of the appointed CPAs annually by referencing the Audit Quality Indicators (AQIs). Each year, the accounting firm issues a "Communication Letter with Governance Body," which includes the statement of roles and responsibilities of the lead accountant and the independence declaration of the auditing accountant. Chicony regularly conducts inspections through its shareholder services unit to confirm that the CPA does not hold any shares in the Company and is not concurrently serving in any position within the organization. The independence of the CPA is assessed, and the results of this assessment are reported to the Board of Directors (BOD).

B

Financial Performance

 

Unit: NT$1,000

Note: Consolidated Financial Statement Data.

A

Operational Performance

Unit: NT$1,000

Note: Consolidated financial statement data; net income after tax attributable to the owners of the parent company.

 

 

Tax Governance

The tax governance unit of the Company is coordinated and planned by the Finance Management Department of HQ. In response to the trends in tax governance, we adhere to relevant internal promotion regulations, transparently disclose information as required, and implement the principles of corporate tax management. All relevant tax payment situations are verified by an accounting firm and reflected in the financial statements.

 

  1. Tax Policy
    The tax governance unit of the Company is coordinated and planned by the Finance Management Department of HQ. In response to the trends in tax governance, we adhere to relevant internal promotion regulations, transparently disclose information as required, and implement the principles of corporate tax management. All relevant tax payment situations are verified by an accounting firm and reflected in the financial statements.

  2. Tax Management Principles
A

Tax Information

  2021 2022 2023 2024
Net Profit Before Tax (NT$ million) 9,452 11,197 11,273 13,296
Income Tax Expense (NT$ million) 1,879 2,181 2,273 2,592
Income Taxes Paid (NT$ million) 1,134 2,014 2,522 2,140
Effective Tax Rate (%) 19.9 19.5 20.2 19.5
Cash Tax Rate (%) 12.0 18.0 22.4 16.1

Notes:

  1. Effective Tax Rate = Income Tax Expense ÷ Net Profit Before Tax x 100%

  2. Cash Tax Rate = Income Taxes Paid ÷ Net Profit Before Tax x 100%

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