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Chicony Power reports a record-breaking EPS of NT$3.88 for 1H22

  Chicony Power Technology Co., Ltd. (6412.TW) today announced its consolidated financial results for the first half of 2022. Consolidated revenues in 1H22 reached NT$20,764 million, up by 5.9% YoY. Net profits attributable to owners of the parent rose 23.4% YoY to NT$1,529 million, with basic EPS of NT$3.88. Furthermore, annualized ROE for 1H22 reached 27.7%. Despite of the effects of China’s Covid lockdowns in April and raw material shortages, the company reported record-breaking 1H22 consolidated revenues, EPS, and ROE ratio for the same period.

  Affected by China’s Covid lockdowns in April and the shortages of certain key components, consolidated revenues for the second quarter came down 2.1% QoQ to NT$10,270 million, but the quarterly revenue still registered a 6.7% growth compared to the year-ago quarter. Gross margin was 16.8%, down by 1.2ppt YoY but up by 0.2ppt QoQ, while the YoY decrease of gross margins was primarily driven by higher manufacturing costs caused by the China lockdowns and the increased raw material costs. Nevertheless, with prudent expense control and higher non-operating income, net profits attributable to owners of the parent rose 17.0% YoY to NT$772 million. Meanwhile, basic EPS was NT$1.95, hitting a record high for the same period.

  Chicony Power also announced its unaudited consolidated revenue of NT$3,535million for July 2022, up by 12.5% YoY, hitting a record high for the same period. For the first seven months, accumulated revenues also reached a new high in the same period and totaled NT$24,299 million, up by 6.8% YoY.

Highlights of 2Q22 Consolidated Income Statement:
(NT$ million) 2Q22 1Q22 QoQ % 2Q21 YoY %
Net Sales 10,270 10,493 -2.1 9,627 6.7
Gross Profit 1,723 1,742 -1.1 1,732 -0.5
Operating Profit 810 908 -10.8 842 -3.8
Pre-tax income 946 939 0.7 841 12.5
Net Income attributable to parent 772 757 2.0 660 17.0
After Tax EPS (NT$) 1.95 1.93 1.0 1.68 16.1
Profit margins %      
GPM 16.8 16.6 +0.2ppt 18.0 -1.2ppt
OPM 7.9 8.7 -0.8ppt 8.7 -0.8ppt
NPM 7.5 7.2 +0.3ppt 6.9 +0.6ppt
Highlights of 1H22 Consolidated Income Statement:
(NT$ million) 1H22 1H21 YoY %
Net Sales 20,764 19,609 5.9
Gross Profit 3,465 3,379 2.6
Operating Profit 1,718 1,615 6.4
Pre-tax income 1,885 1,592 18.4
Net Income attributable to parent 1,529 1,239 23.4
After Tax EPS (NT$) 3.88 3.17 22.4
Profit margins %      
GPM 16.7 17.2 -0.5ppt
OPM 8.3 8.2 +0.1ppt
NPM 7.4 6.3 +1.1ppt


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