Chicony Electronics (2385.TT) reports EPS NT$9.05 and cash dividend NT$7.2 for 2025
Chicony Electronics (2385.TT) reported 2025 results on March 10th, 2026. Chicony’s 2025 revenue was NT$95.7 Billion and EPS was NT$9.05. Chicony also announced to pay NT$7.2 cash dividend, equivalent to 80% dividend payout.
LED Backlight NB Keyboard Penetration Rate Hit Record High of 48% in 2025
The LED backlight NB keyboard penetration rate hit a record high 52% in 4Q25, and as a result, the penetration rate increased from 46% in 2024 to 48% in 2025. In image business, NB camera module revenue grew 16% thanks to ASP increase and surveillance cam revenue delivered 15% YoY growth in 2025.
2025 Revenue was NT$95.7B and EPS was NT$9.05
Chicony’s 2025 revenue was NT$95.7B, and GPM was 18.0%. SG&A was controlled at 9.7%, so OPM was 8.3%. EPS in 2025 was NT$9.05. Chicony recorded a one-time expense in 4Q25 due to capacity consolidation in China. Chicony started to terminate the lease of one factory and consolidate the capacity into our own factory in Dongguang, so there’s a one time expense in 4Q25.
2026 PC Market: Value over Volume
Memory shortage is expected to impact 2026 PC demand and Iran war casts a shadow over global economy. Due to memory price hike, PC companies tend to launch more higher-end models into the market. As a result, Chicony expects to have higher penetration rate of LED backlight NB keyboard and more high-end NB camera modules in 2026. Since Chicony’s top 5 clients are major PC names, we believe that they should have stronger capabilities for securing more memories compared with smaller scale companies.
Strategic Vision 2026: Edge AI Vision
In 2026, Chicony expects to launch more edge AI vision products. We integrate Edge AI and Vision Language Models into image devices so that cameras are empowered to see, understand, and communicate with users. Chicony expects to adopt more edge AI vision technology in smart security, fleet management, smart factory, and smart video conferencing.
| 2025 |
Monthly Revenue (NT$ M) |
MOM | YOY |
Accumulated Revenue (NT$ M) |
YOY |
|---|---|---|---|---|---|
| January | 7,695 | -2.7% | 2.4% | 7,695 | 2.4% |
| February | 6,373 | -17.2% | -12.6% | 14,068 | -4.99% |
