Chicony Electronics Co. posted its third-highest annual revenue and record profits in 2024, allowing the Taiwanese computer peripherals maker to increase its cash dividend to an all-time high.
The company reported revenue of NT$101.48 billion ($3.2 billion) for 2024, up 3.2% year-on-year, with net income attributable to the parent company reaching NT$9.05 billion, a 21.1% increase from 2023. Earnings per share rose to NT$12.43.
Chicony’s board approved a cash dividend of NT$10 per share, representing an 80.4% payout ratio and a 6.17% yield based on the closing share price of NT$162.
The company improved profitability across all metrics, with gross margin rising 0.8 percentage points to 20.2%, operating margin increasing 0.6 percentage points to 10.2%, and net profit margin jumping 1.3 percentage points to 8.9%.
The profit gains stem from Chicony’s focus on higher-value products, particularly premium LED-backlit notebook keyboards, which reached nearly 50% of shipments by the fourth quarter of 2024.
Looking ahead, Chicony expects PC market demand to return to mid-single-digit growth in 2025 as Microsoft ends support for Windows 10, potentially triggering replacement cycles. The company also cited emerging low-cost AI models like DeepSeek as catalysts for increased endpoint device demand.
February revenue came in at NT$7.29 billion, up 10% year-on-year, with the first two months of 2025 showing 3% growth.
Addressing potential tariff risks from the Trump administration, Chicony noted its Thai manufacturing facilities now contribute over 20% of revenue, with plans to increase that to 25-30% this year as it diversifies production outside China.
