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IMOS

Chipmos Technologies Inc.

Chipmos Technologies Inc. is classed by the SEC under Semiconductors & Related Devices (industry code 3674), based in Taiwan, TW. In its latest annual figures on file, for the fiscal year ended 2024-12-31, it reported revenue of $692 million and a profit of $44 million (its filed statements).

Capacity business Semiconductors & Related Devices Taiwan, TW filings since 2007 8 of 9 filed, 1 estimated
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4.8/10headline grade
vs its business-model standard
6.1/10past 4.8/10present 3.6/10future

Three tenses, nine metrics. Unseen metrics stay unseen; the grade never fakes a number. Proxy era: provisional values, marked. Weighed as a capacity business: from the semis smell test of 2026-08-06 (a foundry or assembly service). All three tenses have at least two readings, so the archetype blend applies as printed.

The grade, in three tenses

Headline 4.8 out of ten, 8 of 9 metrics filed and 1 estimated: past 6.1 out of ten, present 4.8 out of ten, future 3.6 out of ten. The past asks what it actually did, the present what it is doing right now, the future what it is set up to do next.

The nine metrics

  • Surviving crises (past): 7.6 out of ten. No warning events in its filings since 2017. 76th percentile among 99 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
  • Track record (past): 4.9 out of ten. +2.1% a year over 10 filed years; profitable in 10 of 10. 49th percentile among 93 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
  • Shareholder treatment (past): 6.4 out of ten. Share count shrank 0.4% a year. 29% of cash flow returned. Insiders: 0 sales, 0 purchases. 64th percentile among 67 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
  • Financial health (present): 4.5 out of ten. ROE 6%: 6¢ of profit per shareholder dollar. Leverage 45%: owes 45¢ per asset dollar. 45th percentile among 95 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
  • Industry position (present): 4.7 out of ten. bottom 47% of 97 in its family; net margin 6.3%. 47th percentile among 97 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
  • Leadership (present): 5.3 out of ten. CrossAssetData estimate 5.3/10, confidence 20 of 100 (family median). 50th percentile among 78 sector filers. A CrossAssetData estimate, not a filed reading: family median, confidence 20 of 100; its next annual report on file with the inputs replaces this estimate with the filed reading.
  • Room to expand (future): 2.9 out of ten. bottom 29% of 94 in its family for room to expand. 29th percentile among 94 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
  • Growth drivers (future): 3.8 out of ten. bottom 38% of 93 in its family for growth drivers. 38th percentile among 93 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
  • Expectations vs reality (future): 3.9 out of ten. bottom 39% of 88 in its family for expectations against reality. 39th percentile among 88 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).

The filing record

Newest annual report: Form 20-F filed 2026-04-14 for the period ended 2025-12-31 (on EDGAR). Newest filing: Form 6-K, 2026-10-08. Filings on record since 2007. Read from EDGAR 2026-10-12.

How the company works

Read from its Form 20-F filed 2026-04-14.

The people

Shih-Jye Cheng has run ChipMOS from the start: he has been a director and its president since July 1997 and its chairman since June 2003, after heading the back-end operation of Mosel, one of its founding partners, from 1992 to 1997. Two executive vice presidents, both named in July 2020, rose inside the company: Vincent Hsu, vice president of its LCDD production group since March 2012 (LCDD is the filing's short name for display panel driver assembly and testing), and D.Y. Tsai, vice president of its Q.R.A. center from June 2014 to June 2020, who also chairs and runs ChipMOS Shanghai. Silvia Su, with the group since 2000, has been vice president of finance and accounting since July 2018 and a director since July 2021. [1, 2, 3, 4, 5, 6, 7, 8]

The board has nine directors, five of them independent. Two represent Siliconware Precision Industries, the largest shareholder with 11.20% of the shares in March 2026: Kun-Yi Chien, its chief administration officer, and David Chang, one of its vice presidents. The independent directors include Jyh-Chau Wang, director and chairman of Innolux Corporation from June 2020 to May 2025, and two electrical engineering professors at National Cheng Kung University, Yeong-Her Wang and Hong-Tzer Yang. All eleven directors and officers on the SEC's insider record filed their first reports there in March 2026. [9, 10, 11, 12, 13, 14, 15, 16, 17]

On February 28, 2026 the company counted 5,823 full-time employees, against 5,747 at the end of 2025: 3,173 in general operations, 1,647 in engineering, 651 in research and development and 124 in sales, administration and finance. Nearly all of them work at its two production groups in Taiwan, 2,237 in Hsinchu and 3,580 in southern Taiwan; two people staff Shanghai and four the United States. A third of the workforce, 33%, are foreign workers on government work permits. No collective bargaining agreement covers its employees, and it reports no strikes or work stoppages. [18, 19, 20, 21]

How it operates

ChipMOS is an independent provider of back-end chip manufacturing: it sells no chips of its own but tests and packages chips that other companies design, for a fee. Testing means probing each chip while it is still on the wafer and testing the finished parts; assembly means cutting the wafer into chips and sealing each in a package that protects it; bumping means forming tiny metal bumps on the wafer through which the chip is later connected, in gold for display drivers and in copper for other chips. It works on two families of chips: memory and logic/mixed-signal chips (chips in which analog circuits cover more than half the area), and the driver chips that run LCD, OLED and car display panels, which it assembles on film (COF, chip on film) or for mounting on glass (COG, chip on glass). Its revenue is mainly service fees, with some equipment rental to chip makers for engineering tests. [22, 23, 24, 25, 26, 27, 28]

It served 70 customers in February 2026. Its fifteen largest of 2025, which the filing lists alphabetically, were Asahi Kasei Microdevices, Chipone Technology (Beijing), Elite Semiconductor Microelectronics Technology, GigaDevice Semiconductor, Himax Technologies, ILI Technology, Integrated Circuit Solution, Macronix International, MediaTek, Micron Technology, Nanya Technology, Novatek Microelectronics, Phison Electronics, Raydium Semiconductor and Winbond Electronics. The top three took about 23%, 15% and 9% of 2025 revenue and the top five 61%. Most customers buy by purchase order, with the price set when the order is placed, and give three-month rolling forecasts that do not bind them. A few have signed long-term capacity agreements, among them a memory customer based in the United States that the filing calls reputable, and at the start of 2026 the company signed a three-year take-or-pay contract for memory wafer testing, under which the customer pays for the reserved capacity whether or not it uses it. [29, 30, 31, 32, 33, 34, 35]

Almost all of the work is done in Taiwan, at plants in Hsinchu and Tainan: testing at the Hsinchu Science Park, the Hsinchu Industrial Park and Chupei, gold bumping and wafer testing at Chupei, and assembly and testing at the Southern Taiwan Science Park. The customers are mostly Taiwanese too. Counted by where each customer is headquartered, Taiwan brought in 87% of 2025 revenue, up from 80% in 2024; Mainland China 6%, Japan 5%, and Singapore, 4% the year before, none. The company reports in New Taiwan dollars, its functional currency, since most of its labor and overhead is paid in them, though nearly 52% of its revenue is denominated in US dollars and most of its equipment is bought in US dollars or Japanese yen. [36, 37, 38, 39, 40, 41, 42]

It is a business of machines. On February 28, 2026 it ran 1,433 testers, 71 burn-in ovens, 955 wire bonders, 105 inner-lead bonders, 10 steppers and 17 sputters. Much of the cost is therefore fixed, 61% of the cost of display driver work and 47% of the cost of memory and logic testing in 2025, so profit depends on how full the lines run as well as on price. In 2025 the lines ran at 66% of capacity on average in memory and logic testing, 67% in assembly, 65% in display driver work and 59% in bumping. [43, 44, 45, 46, 47]

Testing uses few materials; packaging uses many. Memory and logic packages need leadframes, organic substrates, gold wire and molding compound; display drivers need gold, carrier tape and resin. Raw materials cost 25% of revenue in 2025, up from 19% in 2023. The company buys them from a limited group of suppliers on purchase orders, with no long-term contracts, usually keeps at least two suppliers for each key material and says switching one takes three to six months. Its testers and bonders also come from a limited number of equipment makers, which the filing does not name. [48, 49, 50, 51, 52]

The specifics

ChipMOS was incorporated on July 28, 1997 as a joint venture of Mosel Vitelic and Siliconware Precision Industries, with other investors. Its shares have been listed on the Taiwan Stock Exchange since April 11, 2014. ChipMOS TECHNOLOGIES (Bermuda) merged into it on October 31, 2016, and its American depositary shares (ADSs, each standing for 20 of its common shares) were listed on Nasdaq on November 1, 2016. It has since sold Unimos Shanghai, through which it had run its business in Mainland China: 54.98% went to investors including Unigroup Guowei, a Tsinghua Unigroup subsidiary, in a deal completed in March 2017, and the remaining 45.0242% for RMB 979.3 million in cash, in a sale completed in May 2024. [53, 54, 55, 56, 57, 58, 59, 60, 61, 62, 63]

Its technical claims center on memory testing and display drivers. It tests memory in parallel, finishing a whole wafer in one touchdown with up to 3,000 plus devices tested at once, and its chip-on-film packages for display drivers reach an inner-lead pitch, the spacing between connections, of 18um and 16um for AR and VR gear. Gold, a major cost, has stayed high, so it has developed a silver alloy bump that has passed panel-level reliability verification, with the objective of completing mass-production qualification by the second quarter of 2026. On February 28, 2026 it held 273 patents in Taiwan, 76 in the United States and 149 in Mainland China, expiring at various dates through 2044. It spent NT$1,077 million on research and development in 2025, 4.5% of revenue. [64, 65, 66, 67, 68]

It names its competitors: chip makers that assemble and test in house (IDMs, integrated device manufacturers) and independent assembly and test companies, especially Advanced Semiconductor Engineering, Amkor Technology, Chipbond Technology, King Yuan Electronics, Powertech Technology, Jiangsu Changjiang Electronics Technology and United Test and Assembly Center. It warns that rivals have cut prices quickly and sharply in slow times to keep their plants full, that more of them work from lower-cost places such as Mainland China, and that since the supply chain reshuffle after COVID-19, with government subsidies and local production rules, competitive pressure from display driver suppliers in Mainland China has grown. [69, 70, 71]

Trade policy reaches it through its customers. It says the extra tariffs on semiconductors that President Trump announced in February 2025 would not directly affect its business or gross profit, but that end users may move their supply chains to places without them; and on March 11, 2026 the United States Trade Representative opened investigations of several economies, Taiwan among them, under Section 301 of the Trade Act of 1974. At home, it has suffered power outages from its electricity supplier, the Taiwan Power Company, and a typhoon in July 2025 brought large-scale power outages and logistics disruptions across western Taiwan. [72, 73, 74, 75]

What drives growth, line by line

Testing. Testing memory and logic chips brought in NT$5,678 million, 23.7% of 2025 revenue, up 14%. The filing credits a higher average selling price and customer demand; the number of units tested rose only around 1%. Gross margin, the share of revenue left after the direct cost of the work, rose to 22.1% from 19.2%, and the testing lines ran at 66% of capacity against 63%. [76, 77, 78, 46]

Assembly. Assembly of memory and logic chips was the largest line in 2025 at NT$6,827 million, 28.6% of revenue, up 27% on a higher average selling price and on memory volumes that rebounded from the second half of the year. The company raised its memory assembly and test prices in August 2025 to cover higher raw material costs. The line still lost money on the work, though less: its gross margin improved to minus 1.6% from minus 11.2%, as utilization rose to 67% from 59%. [79, 77, 80, 81, 46]

Display panel driver semiconductor assembly and testing. Display driver assembly and testing fell to NT$5,870 million, down 20%, and from 36.6% of revenue in 2023 to 24.5% in 2025. The filing blames weaker demand as customers worked down inventories in a soft market, and price competition among display driver chip suppliers in Mainland China; the number of units fell around 23%. Its gross margin dropped to 7.5% from 22.5%, primarily on a lower average selling price, and its lines ran at 65% of capacity against 70%. [82, 83, 84, 46]

Bumping. Bumping rose to NT$5,558 million, 23.2% of revenue, up 11%, principally because a substantial rise in gold prices lifted the average selling price, helped by a better product mix. Gold passes through: revenue and cost both rose with it, so the gross margin slipped to 18.0% from 19.0%, and the bumping lines ran at 59% of capacity against 62%. [85, 86, 77, 46]

Altogether revenue rose 5% to NT$23,933 million (US$763 million), still below the NT$27.4 billion of 2021. Gross margin fell to 10.8% from 13.0%, on higher material costs and electricity rates and on fixed costs spread over less work in display drivers and bumping, and profit attributable to shareholders fell to NT$551 million from NT$1,440 million in 2024 and NT$1,968 million in 2023. [87, 88, 89, 90]

What comes next, in the company's words: it plans to widen its logic and mixed-signal work to power management chips (PMIC) for DDR5 memory modules and to support custom chips (ASIC) for AI applications; the three-year memory wafer test take-or-pay contract signed at the start of 2026 reserves testing capacity for a customer; and it aims to complete mass-production qualification of its silver alloy bump by the second quarter of 2026. [91, 35, 66]

What the desk infers (inferred, not filed)

  • The customer the notes call Customer K, whose share of revenue rose from 8% in 2023 to 15% in 2025, is most likely a memory chip company riding the memory rebound rather than a display driver designer. Because: Customer K's share of revenue rose every year, from 8% in 2023 to 11% and then 15%. [92] In 2025 the memory and logic testing and assembly lines grew while display driver work shrank. [76, 79, 82] The filing credits the growth in assembly to memory volumes that rebounded from the second half of 2025, and a take-or-pay memory testing contract followed at the start of 2026. [79, 35] Confidence 55 of 100. Wrong if: A filing that ties Customer K's revenue mainly to the display panel driver or bumping segments, or names it as a display driver company.
  • The largest customer, Customer A, most likely buys under a long-term capacity agreement: its purchases held almost flat in NT dollars for three years while the rest of the business swung. Because: Customer A brought in 5,251,529 thousand NT dollars in 2023, 5,376,979 thousand in 2024 and 5,393,013 thousand in 2025, about a quarter of revenue each year. [92] In 2025 display driver revenue fell 20% while assembly revenue rose 27%. [82, 79] The filing says most customers do not order far ahead and their orders vary significantly, but that under some long-term agreements customers agreed to place orders in the amount of capacity reserved for them. [93] Its long-term agreements include one with a memory customer based in the United States. [34] Confidence 45 of 100. Wrong if: A filing showing that Customer A buys only on ordinary purchase orders with no reserved capacity, or that its purchases moved with a single segment.
  • Much of the 5% revenue gain of 2025 came from higher prices, including gold and other material costs passed on to customers, rather than from more work. Because: Total revenue rose 5% to NT$23,933 million. [87] Testing revenue rose 14% while the number of units tested rose around 1%. [76] Bumping revenue rose 11% principally on a higher average selling price from a substantial rise in gold prices, and its margin fell because revenue and cost rose together. [85, 86] The company raised its memory assembly and test prices in August 2025 to reflect higher raw material costs, and raw materials rose to 25% of revenue from 20% in 2024. [80, 48] Display driver units fell around 23%. [82] Confidence 65 of 100. Wrong if: Filed unit volumes for assembly and bumping in 2025 that grew faster than those lines' revenue.

Sources

  1. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “Shih-Jye Cheng has served as a director and president of the Company since July 1997 and the chairman of the Company since June 2003.”
  2. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “He was a division head of the back-end operation of Mosel from 1992 to 1997.”
  3. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “Vincent Hsu has served as the executive vice president since July 2020. He has been our vice president of LCDD production group of the Company since March 2012.”
  4. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “services for Display panel driver semiconductor assembly and testing (“LCDD”) and Bumping”
  5. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “D.Y. Tsai has served as the executive vice president since July 2020. He has been our vice president of Q.R.A. center of the Company from June 2014 to June 2020.”
  6. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “He has been the chairman and president of ChipMOS Shanghai since March 2020 and the chairman of ChipMOS BVI since August 2022.”
  7. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “Silvia Su has served as one of our directors since July 2021. She has served as the vice president of finance and accounting management center of the Company since July 2018 and as the corporate governance officer since March 2021.”
  8. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “She joined the Group from 2000.”
  9. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “Our Board of Directors currently comprises of nine directors who were elected by our shareholders. Of our current nine directors, five are independent directors.”
  10. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “Since May 30, 2024, of our current nine directors, two directors are representatives of Siliconware Precision which is our largest shareholder.”
  11. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “Siliconware Precision Industries Co., Ltd. 78,910,390 10.85 % 78,910,390 10.85 % 78,910,390 11.20”
  12. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “Kun-Yi Chien has served as one of our directors since July 2021. He has served as the director of Siliconware Precision since April 2018. He also serves as the chief administration officer and senior vice president of Siliconware Precision.”
  13. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “David Chang has served as one of our directors since October 2022. He has served as a vice president in Siliconware Precision since June 2020.”
  14. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “He was the director and chairman of Innolux Corporation from June 2020 to May 2025, chief executive officer, from May 2016 to June 2018 and president from May 2016 to March 2017.”
  15. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “Yeong-Her Wang has served as one of our directors since July 2021. He has been a professor of the Department of Electrical Engineering and the Institute of Microelectronics of National Cheng Kung University since August 1992”
  16. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “Hong-Tzer Yang has served as one of our directors since July 2021. He has been the distinguished professor of the Department of Electrical Engineering since July 2007 and Vice Dean of College of Electrical Engineering and Computer Science since August, 2024 at National Cheng Kung University.”
  17. The record on this page: the officers and directors who file Forms 3, 4 and 5 (the SEC's insider data sets)
  18. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “General operations 2,846 3,227 3,142 3,173 Engineering 1,480 1,608 1,605 1,647 Research and development 704 696 646 651 Sales, administration and finance 142 129 124 124 Others 224 238 230 228 Total 5,396 5,898 5,747 5,823”
  19. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “Hsinchu Production Group 2,028 2,204 2,213 2,237 Southern Taiwan Production Group 3,361 3,686 3,527 3,580 Shanghai 3 3 3 2 United States 4 5 4 4”
  20. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “As of February 28, 2026, 33% of the workforce at our facilities are foreign workers employed by us under work permits that are subject to government regulations on renewal and other terms.”
  21. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “Our employees are not covered by any collective bargaining agreements. We have not experienced any strikes or work stoppages by our employees”
  22. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “We are one of the leading independent providers of semiconductor assembly and testing services.”
  23. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “Testing services include engineering test, wafer probing and final test of memory and logic/mixed-signal semiconductors.”
  24. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “The assembly of semiconductors serves to protect the die, facilitates its integration into electronic systems and enables the dissipation of heat. The process begins with the dicing of the wafers into chips.”
  25. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “In addition, we provide gold bumping, reel to reel assembly and testing services for LCD, OLED, automotive panel and other display panel driver semiconductors by employing COF and COG technologies.”
  26. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “Our revenue consists primarily of service fees for testing and assembling semiconductors, and to a lesser extent, fees from equipment rentals to semiconductor manufacturers for engineering testing, less allowances for product returns.”
  27. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “Logic/mixed-signal semiconductors, which are chips with analog functionality covering more than half of the chip area, are largely used in the communications market.”
  28. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “Our copper bumping technology supports non-driver type of products, such as RDL, copper pillar, WLCSP etc.”
  29. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “The number of our customers as of February 29, 2024, February 28, 2025 and February 28, 2026, respectively, was 67, 68 and 70.”
  30. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “Our top 15 customers in terms of revenue in 2025 were (in alphabetical order): Asahi Kasei Microdevices Corporation Chipone Technology (Beijing) Co., Ltd. Elite Semiconductor Microelectronics Technology Inc. GigaDevice Semiconductor (HK) Limited Himax Technologies, Inc. ILI Technology Corporation Integrated Circuit Solution Inc. Macronix International Co., Ltd. MediaTek Inc. Micron Technology, Inc. Nanya Technology Corporation Novatek Microelectronics Corp. Phison Electronics Corp. Raydium Semiconductor Corporation Winbond Electronics Corporation”
  31. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “In 2025, our top three customers accounted for approximately 23%, 15% and 9% of our revenue, respectively.”
  32. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “In 2025, our top five customers collectively accounted for 61% of our revenue.”
  33. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “The majorities of our customers purchase our services through purchase orders and provide us three-month non-binding rolling forecasts on a monthly basis. The price for our services is typically agreed upon at the time when a purchase order is placed.”
  34. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “The customers with which we entered long-term agreements include a reputable memory customer based in the U.S.”
  35. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “Meanwhile, driven by the strong rebound in memory market since the second half of 2025, we finalized a long term 3-year memory wafer test capacity take-or-pay contract in the beginning of 2026.”
  36. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “Our production facilities are located in Hsinchu and Tainan, Taiwan.”
  37. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “We conduct testing operations in our facilities at the Hsinchu Science Park, the Hsinchu Industrial Park and Chupei, gold bumping and wafer testing in our facility at Chupei, and assembly and testing operations in our facility at the Southern Taiwan Science Park.”
  38. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “Taiwan 81% 80% 87% Japan 6% 6% 5% PRC 8% 7% 6% Singapore 3% 4% 0% Others 2% 3% 2%”
  39. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “The majority of our revenue is generated from customers headquartered in Taiwan, which represented 81%, 80% and 87% of our revenue in 2023, 2024 and 2025, respectively.”
  40. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “Currently, we are nearly 52% of revenue denominated in US dollars.”
  41. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “As we generate most of our revenue from Taiwanese customers using our Taiwanese operations, and since most of our labor and overhead costs are denominated in NT dollars, we consider the NT dollar to be our functional currency.”
  42. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “a substantial portion of our capital expenditures, primarily for the purchase of assembly and testing equipment, has been, and is expected to continue to be, denominated in US dollars with much of the remainder denominated in Japanese yen.”
  43. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “As of February 28, 2026, we had 1,433 testers, 71 burn-in ovens, 955 wire bonders, 105 inner-lead bonders, 10 steppers and 17 sputters.”
  44. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “For Display panel driver semiconductor assembly and testing services, our fixed costs represented 59%, 58% and 61% of our total cost of revenue in 2023, 2024 and 2025, respectively.”
  45. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “For memory and logic/mixed-signal semiconductor testing services, our fixed costs represented 50%, 47% and 47% of our total cost of revenue in 2023, 2024 and 2025, respectively.”
  46. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “Our average capacity utilization rate for testing of memory and logic/mixed-signal semiconductors was 58% in 2023, 63% in 2024 and 66% in 2025. Our average capacity utilization rate for assembly of memory and logic/mixed-signal semiconductors was 46% in 2023, 59% in 2024 and 67% in 2025. Our average capacity utilization rate for Display panel driver semiconductor assembly and testing was 69% in 2023, 70% in 2024 and 65% in 2025. In addition, our average capacity utilization rate for bumping was 58% in 2023, 62% in 2024 and 59% in 2025.”
  47. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “Our profitability depends in part not only on absolute pricing levels for our services, but also on our capacity utilization rates.”
  48. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “Semiconductor testing requires minimal raw materials. Substantially all of the raw materials used in our memory and logic/mixed-signal semiconductor assembly processes are interconnect materials such as leadframes, organic substrates, gold wire and molding compound. Raw materials used in the LCD, OLED, automotive panel and other display panel driver semiconductor assembly and testing process include gold, carrier tape, resin, spacer tape, plastic reel, aluminum bags, and inner and outer boxes. Cost of raw materials represented 19%, 20% and 25% of our revenue in 2023, 2024 and 2025, respectively.”
  49. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “We source most of our raw materials, including critical materials like leadframes, organic substrates, epoxy, gold wire and molding compound for assembly, and tapes for COF, from a limited group of suppliers.”
  50. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “We purchase all of our materials on a purchase order basis and have no long-term contracts with any of our suppliers.”
  51. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “Although we typically maintain at least two suppliers for each key raw material, we cannot assure you that we will be able to obtain sufficient quantities of raw materials and other supplies of an acceptable quality in the future. It usually takes from three to six months to switch from one supplier to another, depending on the complexity of the raw material.”
  52. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “Our operations and expansion plans depend on our ability to obtain equipment from a limited number of suppliers in a timely and cost-effective manner.”
  53. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “We are a company limited by shares, incorporated on July 28, 1997, under the ROC Company Act, under the name “ChipMOS TECHNOLOGIES INC.” (“ChipMOS Taiwan”), as a joint venture company between Mosel Vitelic Inc. (“Mosel”) and Siliconware Precision Industries Co., Ltd. (“Siliconware Precision”) and with the participation of other investors.”
  54. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “The Company listed and commenced trading on the main board of TWSE on April 11, 2014.”
  55. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “The Merger was completed and effective on October 31, 2016. The Company issued 512,405,340 common shares represented by the ADSs and the ADSs were listed on the Nasdaq on November 1, 2016.”
  56. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “(each ADS representing 20 new common shares, par value of NT$10 each, to be issued by the Company)”
  57. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “Pursuant to the Equity Interest Transfer Agreements, ChipMOS BVI would sell 54.98% equity interests of its wholly-owned subsidiary, Unimos Shanghai, to the strategic investors”
  58. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “some strategic investors which including Unigroup Guowei, a subsidiary of Tsinghua Unigroup, were executed.”
  59. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “The transaction was completed in March 2017. Unimos Shanghai is no longer the subsidiary of the Company following the completion of equity interest transfer.”
  60. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “On December 21, 2023, the Company’s Board of Directors approved its wholly-owned subsidiary, ChipMOS BVI to sell its entire 45.0242% equity interests in Unimos Shanghai for a total sale price of RMB 979.3 million in cash.”
  61. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “We conducted our PRC operations through Unimos Shanghai, the 45.0242%-owned affiliate of ChipMOS BVI, our controlled subsidiary.”
  62. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “ChipMOS BVI completed the equity interest transfer of Unimos Shanghai in May 2024, and fully received the consideration amounted in December 2024.”
  63. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “According to the merger agreement, entered between the Company and ChipMOS TECHNOLOGIES (Bermuda) LTD. (“ChipMOS Bermuda”) dated January 21, 2016 (the “Merger Agreement”), ChipMOS Bermuda merged with and into the Company, with the Company being the surviving company after the Merger.”
  64. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “To speed up the time-consuming process of memory product testing, we provide parallel test, which includes the completion of a tested wafer in one touchdown (up to 3,000 plus DUTs testing simultaneously).”
  65. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “18um/16um inner lead pitch 2-metal layer COF package is ready for production of coming AR/VR gear requirement.”
  66. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “In 2025, Display driver ICs business is challenged during geopolitical factor and major cost among of gold price is relative high cost and no sign to downward trend. We are well positioned to introduce our next-generation Silver-Alloy bump technology, which has successfully passed panel-level package reliability assurance (RA) verification. The objective is to complete mass-production qualification by the second quarter of 2026.”
  67. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “As of February 28, 2026, we held 273 patents in Taiwan, 76 patents in the United States, 149 patents in Mainland China, 1 patent in the United Kingdom and 2 patents in Korea and Japan, respectively, relating to various semiconductor assembly and testing technologies. These patents will expire at various dates through to 2044.”
  68. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “In 2023, 2024 and 2025, we spent approximately NT$1,093 million, or 5.1%, NT$1,163 million, or 5.1% and NT$1,077 million (US$34 million), or 4.5%, respectively, of our revenue on research and development.”
  69. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “Our competitors include large IDMs with in-house testing and assembly capabilities and other independent semiconductor assembly and testing companies, especially those offering vertically integrated assembly and testing services, such as Advanced Semiconductor Engineering Inc., Amkor Technology, Inc., Chipbond Technology Corporation, King Yuan Electronics Co., Ltd., Powertech Technology Inc., Jiangsu Changjiang Electronics Technology Co., Ltd. and United Test and Assembly Center Ltd.”
  70. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “Many of our competitors have shown a willingness to reduce prices quickly and sharply in the past to maintain capacity utilization in their facilities during periods of reduced demand. In addition, an increasing number of our competitors conduct their operations in lower cost centers in Asia such as Mainland China.”
  71. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “However, following the supply chain reshuffle after COVID-19, along with government subsidies and local production requirements, the competition pressure from DDIC supplier in Mainland China has gradually increased.”
  72. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “In February 2025, President Trump announced a plan to impose extra-tariffs on semiconductors. Despite the extra-tariffs in semiconductor content coming out of Taiwan would not directly impact our business nor gross profit based on currently business model, however the end-users may restructure the supply chain to areas or countries that are not imposed extra-tariffs to reduce their cost, which could impact our further business.”
  73. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “On March 11, 2026, the United States Trade Representatives announced the initiation of investigations regarding the acts, policies and practices of various economies, including Taiwan, under Section 301(b) of the Trade Act of 1974.”
  74. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “ChipMOS has occasionally suffered power outages or surges in Taiwan caused by difficulties encountered by its electricity supplier, the Taiwan Power Company, or other power consumers on the same power grid, which have resulted in interruptions to our operations.”
  75. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “such as Typhoon in July 2025, whose severe wind and heavy rain led to large-scale power outages and logistical disruptions across western Taiwan”
  76. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “Revenue from testing services increased by NT$710 million, or 14%, to NT$5,678 million (US$181 million) in 2025 from NT$4,968 million in 2024, principally due to the increased average selling price and customer demand. The sales quantity increased around 1% compared to 2024.”
  77. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “In 2025, 23.7% of our revenue was derived from testing services for memory and logic/mixed-signal semiconductors, 28.6% from assembly services for memory and logic/mixed-signal semiconductors, 24.5% from Display panel driver semiconductor assembly and testing services and 23.2% from bumping services for semiconductors, respectively.”
  78. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “Our gross profit margin for testing services increased to 22.1% in 2025 from 19.2% in 2024, primarily due to the increase in revenue resulted from the increased average selling price and customer demand.”
  79. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “Revenue from assembly services increased by NT$1,437 million, or 27%, to NT$6,827 million (US$218 million) in 2025 from NT$5,390 million in 2024, primarily as a result of the increase of average selling price, and the volume driven by memory products rebounded since the second half of 2025.”
  80. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “By the way, we raised up the memory OSAT price to reflect the higher raw material cost in August 2025.”
  81. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “Our gross profit margin for assembly services increased to -1.6% in 2025 from -11.2% in 2024”
  82. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “Revenue from display panel driver semiconductor assembly and testing services decreased by NT$1,449 million, or 20%, to NT$5,870 million (US$187 million) in 2025 from NT$7,319 million in 2024. This decrease was principally as a result of a weaker customer demand due to inventory adjustments for market softness and the price competition among DDIC suppliers in Mainland China. The sales quantity decreased around 23% compared to 2024.”
  83. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “Our gross profit margin for display panel driver semiconductor assembly and testing services decreased to 7.5% in 2025 from 22.5% in 2024, primarily caused by the decline of average selling price.”
  84. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “Display panel driver semiconductor assembly and testing 36.6% 32.2% 24.5%”
  85. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “Revenue from bumping services increased by NT$539 million, or 11%, to NT$5,558 million (US$177 million) in 2025 from NT$5,019 million in 2024. This increase was principally due to the increased average selling price resulting from a substantial rise in gold prices and favorable product mix.”
  86. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “Our gross profit margin for bumping services decreased to 18.0% in 2025 from 19.0% in 2024, primarily due to the increase in direct material expense, such as rising gold prices, which dilutes our gross profit margin for bumping services because both the revenue and cost increased with higher gold price.”
  87. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “Revenue. Our revenue increased by NT$1,237 million, or 5%, to NT$23,933 million (US$763 million) in 2025 from NT$22,696 million in 2024.”
  88. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “Our gross margin was 10.8% in 2025, compared to 13.0% in 2024, due to higher material costs, electricity charge rate and higher allocation of fixed costs resulting from the lower utilization level of display panel driver semiconductor assembly and testing services and bumping services.”
  89. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “Our profit for the year attributable to equity holders of the Company were NT$1,968 million, NT$1,440 million and NT$551 million (US$18 million) in 2023, 2024 and 2025, respectively.”
  90. The record on this page: the filed annual figures (EDGAR's company facts)
  91. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “We plan to expand our logic and mixed-signal product portfolio from MEMS and TV SOC products to include PMIC of DDR5 modules, logic product for smart devices serving high-tech and healthcare. We also plan to support ASIC for AI related application products to enhance the long-term growth momentum of our logic and mixed-signal product line.”
  92. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “The information on the major customers which constituted more than 10% of the Group’s total revenue for the years ended December 31, 2023, 2024 and 2025 is as follows: Year ended December 31, 2023 2024 2025 NT$000 % NT$000 % NT$000 % Customers Customer A 5,251,529 25 5,376,979 24 5,393,013 23 Customer K 1,787,471 8 2,487,062 11 3,673,340 15 Customer B 2,834,188 13 2,604,235 11 2,209,678 9”
  93. Chipmos Technologies Inc., Form 20-F filed 2026-04-14: “Most of our customers do not place purchase orders far in advance. Our contracts with customers generally do not require minimum purchases of our products or services. Our customers’ purchase orders have varied significantly from period to period because demand for their products is often volatile. We have strategically entered into long-term capacity agreements with some of our customers. Under certain of those long-term agreements, we have agreed to reserve capacity for our customers and our customers have agreed to place orders in the amount of the reserved capacity (which is subject in certain cases to reduction by the customers).”

Who runs it

Cheng, Shih Jye (President); Hsu, Yuan-Feng (Executive Vice President); Su, Yu-Chiao (Vice President); Tsai, Teng-Yueh (Executive Vice President); Chang, Pao-Hsin (director); Chien, Kun-Yi (director); Lin, Fu-Chen (director); Tang, Yuh-Fong (director); Wang, Jyh-Chau (director); Wang, Yeong-Her (director); and 1 more. 11 officers and directors have filed their own trades in the last fifteen months, names and titles as filed with the SEC, through 2026-09-30.

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