Innolux Corporation has reelected Hong Jin-yang as chairman and CEO at its 2025 shareholders’ meeting, where the company outlined ambitious plans to accelerate its transformation strategy after returning to profitability in 2024.
The Taiwanese display manufacturer reported a net profit of NT$6.47 billion (US$200.6 million) for 2024, reversing the previous year’s NT$18.64 billion loss. Revenue grew 2.3% to NT$216.5 billion, with earnings per share of NT$0.76.
At the meeting, shareholders approved a cash dividend of NT$1 per share and endorsed plans to list subsidiary CarUX on overseas securities markets. CarUX, established in 2020, has quickly established itself as a significant player in the automotive display sector with innovations in privacy technology and hidden display solutions for vehicle interiors.
Hong’s leadership follows a “666 Planning Blueprint” with three six-year phases. The first phase (2018-2024) delivered shareholder returns that reportedly outperformed industry peers. The company is now entering the second phase (2025-2030), which will focus on strengthening its position as a Tier 1 automotive supplier while expanding into advanced semiconductor packaging.
The semiconductor packaging initiative represents a major diversification effort, with Innolux converting older display production lines to produce fan-out panel-level packaging (FOPLP). The company expects to begin mass production in the second half of 2024, leveraging synergies between its existing photolithography processes and semiconductor packaging requirements.
Industry analysts remain cautious about the dual transformation strategy, noting the significant technical challenges in both automotive displays and semiconductor packaging while acknowledging the need for diversification as traditional display manufacturing faces intense price competition.
