Investor Presentation - Himax
: HIMXInvestor PresentationFebruary, 2016
Forward looking statementsFactors that could cause actual events or results to differ materially include, but not limited to, general business and economicconditions and the state of the semiconductor industry; market acceptance and competitiveness of the driver and non-driverproducts developed by the Company; demand for end-use applications products; reliance on a small group of principal customers;the uncertainty of continued success in technological innovations; our ability to develop and protect our intellectual property;pricing pressures including declines in average selling prices; changes in customer order patterns; changes in estimated full-yeareffective tax rate; shortages in supply of key components; changes in environmental laws and regulations; exchange ratefluctuations; regulatory approvals for further investments in our subsidiaries; our ability to collect accounts receivable and manageinventory and other risks described from time to time in the Company's SEC filings, including those risks identified in the sectionentitled "Risk Factors" in its Form 20-F for the year ended December 31, 2014 filed with the SEC, as may be amended.2
30 years of digital imagery expertise2000’s1990’sFounder B.S. Wu pioneersflat panel technologies atChimei Electronics as CTOChairman Wu establishes Himax tomeet DDIC demand for largepanels and fast-growing mediumand small panels2010’sand beyond Himax leads LCOSHimax gains market share with designwins with leading technology products development and innovation ofnew display technologies.companies, worldwideCORPORAT E TIMELIN EJune 2001Himax Taiwanformed byB.S. WuOctober 2004Himax formsHimax Display tofocus on LCOSmicrodisplaytechnologyDecember 2003Himax Taiwanbegins trading onEmerging StockBoard (TW) under"3222"March 2006Himax IPOs on Nasdaq.Raises 147M withMorgan StanleyAugust 2005Himax Taiwandelists fromEmerging StockBoardFebruary 20072009GFC reduces sales 900million to 700 million.Refocuses effort on non-driverproductsHimax acquired Wisepal,and forms HimaxSemiconductor to focus onsmall and medium sizedDDICs2010-2012Non-driver salesincrease grossmargins and BOMsales opportunitiesJune 2013Himax completestake out financingof ChimeiSept 2015AR business hitsinflection point. MassProduction follows in1Q16July 2013Signs investmentagreement withGoogle3
Himax's TOP THREE driver I/C position and globalreachInvestmentHighlightsInvestment highlights1Leading Display Driver Provider Worldwide leading display driver player with a wide range of drivers for panels of all sizes and in-houseintellectual property Image technology solutions provider2Diversifying Revenues and Customers Top tier customers globally Diversifying revenues from DDIC to CMOS image sensors, LCOS microdisplay , touch panel controllers, timingcontrollers, power management IC, and ASIC service DDIC market share leader3Operational and Public Market Performances 4Long term profitability potential with no fundraising since IPODisciplined cost controlStable cash flowCommitted to high dividend payout ratioDebt-free: Short-term debt offset by deposits of restricted cash reported under current assetsInnovative New Products Capturing Growth Markets Automotive applications and AR/VR related businesses Core driver IC business benefit from technology integration and market leader position Growth from non-driver products, such as LCOS microdisplay solutions and WLO, touch panel controllers andintegrated touch and display ICs, CMOS image sensors, and timing controllers5Visionary Management Team4
SummaryFinancialsCapital marketssnapshotFiscal YearDecember 31stLast-Traded Price (02/03/16) 7.62Basic Weighted Ave. Out.ADSDiluted Weighted Ave. Out.ADSEquivalent ADS Out.171.6M171.9M171.9MMarket Capitalization(02/03/16) 1.3BInsider Ownership31.6%* Insider ownership includes executives and board membersTop 20 Institutional ShareholdersBaillie Gifford & Co. LtdCovering AnalystsBlackrock Investment ManagementBank of America Merrill LynchPendingStandard Life InvestmentsBlackrock AdvisorsBrean Capital, LLCMike BurtonShannon River CapitalRenaissance TechnologiesIgnis Asset ManagementCalifornia Public Retirement SystemQuentec Asset ManagementGranite Point CapitalHood River CapitalUBS Financial ServicesFidelity Management & ResearchOxford Asset ManagementPolar CapitalBalyasny Asset ManagementValidea CapitalPutnam InvestmentFiera CapitalUS Trust BofA Private WealthCraig-Hallum Capital Group LLCCredit SuisseEdison Investment Research LimitedLake Street Capital MarketsMorgan StanleyNomura SecuritiesNorthland Securities, Inc.Oppenheimer & Co. Inc.RW Baird & Co.Topeka Capital MarketsUBS Securities Pte. Ltd.Rosenblatt SecuritiesAnthony J. StossJerry SuDan ScovelJaeson SchmidtCharlie ChanAaron JengTom SepenzisAndrew UerkwitzTristan GerraSuji De SilvaSamson HungJun Zhang5
Shareholder focused. Returns profitsDividendsShare Buy Back Distributed a total of 378 million of dividend sinceIPO (2015 payout in July) Dividends referenced primarily on prior year’sprofitability 0.25(US M)10080 0.063119% 0.30 0.20 0.35 0.1275%100% Initiated four share buyback programstotaling 158 million since 2007 Repurchased a total of 46.5 million ADSsthrough Dec 31, 2015 at average purchaseprice per ADS: 3.15Dividend Pay Out Ratio 0.2583.3%63.2% 0.27 0.3075%77.5% 50M 50M61.4%51.3%60 33M40 67 46 5620 25M 51 42 44 40 210 13M 112007 2008 2009 2010 2011 2012 2013 2014 2015Dividend .400.210.190.060.300.360.390.15HIMXTDIV since 201420072008Executed Share Buyback 524Million20102011Unutilized PortionReturned to shareholders includingdividends and buy-backs since IPO6
SummaryFinancialsSummary financialsand guidanceQUARTERRevenuesGross Margin (%)GAAP Net Income (Loss)*GAAP Earnings per ADSNon-GAAP Net Income*Non-GAAP Earnings per ADSYEARRevenuesGross Margin (%)GAAP Net IncomeGAAP Earnings per ADSNon-GAAP Net IncomeNon-GAAP Earnings per ADS4Q2015 178.0M22.9% 6.1M** 0.036** 6.5M** 0.038**4Q2014 227.2M24.7% 15.6M*** 0.091*** 16.1M*** 0.094***FY2015 691.8M23.6% 25.2M** 0.146** 30.6M** 0.178**3Q2015 165.6M21.8% (2.3)M (0.014) 1.7M 0.010FY2014 840.5M24.5% 66.6M*** 0.387*** 76.0M*** 0.442***YoY-21.7%-1.8%-60.8%-60.8%-59.7%-59.8%QoQ 7.5% 1.1% 362.9% 362.3% 286.4% 285.6%YoY-17.7%-0.9%-62.2%-62.2%-59.7%-59.7%1Q2016 GUIDANCERevenuesGross MarginGAAP Earnings per diluted ADSTo be down 1% to up 4% as compared to the fourth quarter of 2015To be around 25% as opposed to 22.9% reported in the fourth quarter of 20155.5 to 7.5 cents per diluted ADS* 2014 GAAP numbers include grant of Restricted Share Units at the end of September at 9.3 million* 2015 GAAP numbers include grant of Restricted Share Units at the end of September at 4.5 million** An additional income tax charge due to FX impact of 3.7 million in 3Q15, 1.9 million in 4Q15, and 3.6 million in 15FY*** An additional income tax charge due to FX impact of 4.8 million in 4Q14 and 5.6 million in 14FY7
A global semiconductor company Fabless semiconductor company withworld leading visual imaging processingtechnologies Global market leader in TFT-LCD displaydriver and timing controller ICs 200 customers across Taiwan, China,Japan, Korea, U.S. and Europe 2,764 patents granted and 566 patentspending approval worldwide as ofDecember 31st, 2015 NASDAQ-listed since March 2006 (HIMX) Around 1,900 employees worldwide; morethan 90% are engineers Beijing, Shanghai, SuzhouNinbo, Fuqing FuzhouQingdaoIrvine, CADesignInvestorRelationsCampbell, CADesignSalesTechnicalSupportTainan, es/MarketingTechnical rsTainan, TaiwanHeadquartered in Tainan, Taiwan with 5R&D centers in Taiwan and U.S., out of atotal of 20 offices across Taiwan, China,Japan, Korea and U.S.8
CorporatestructureMainOperatingCompanies & Solutions: HIMXHimax Technologies, Inc.HIMAX TECHNOLOGIES, Ltd.Driver, TCON and P-Gamma OPTouch ControllersOn-cell TouchPure in-cell Touch (TDDI)Multi-level Force TouchASIC Service and IP LicensingPower Management ICsWafer Level Optics and modulesfor CIS Light guide In-house Color Filter Fab forLCOS and CIS HIMAX DISPLAY,Inc.a LCOS Modules for HeadMounted Display, Head-upDisplay and Pico-projectorApplicationsHIMAX IMAGING, Ltd. CMOS Image sensors9
Himax inside consumer electronicsDISPLAY DRIVERSIn displaysDisplay DriverTCONPMICLED DriverP-gamma OPWAFER LEVEL OPTICSASIC SERVICE & IPLICENSINGOn Touch PanelsController ICCMOS IMAGE SENSORSLCOSMICRODISPLAYSTOUCH PANELCONTROLLERSOther 30 POWER MANAGEMENT IC& LED DRIVERSASIC and IPTIMING CONTROLLERSServicing andlicensingIn Camera ModulesCMOS Image SensorWafer Level Optics10
Skilledof Complex Supply ChainsFabless Managementmanufacturing expertiseDISPLAY DRIVERWAFER FABRICATIONGOLD BUMPINGPROCESSED TAPECMOS IMAGE SENSOR BACK-ENDPACKAGECHIP PROBE TESTINGFTRWSOCCHIP PROBE TESTINGCHIP PROBE TESTINGASSEMBLY AND TESTINGPACKAGEFT11
Product Lines & 6 Growth Opportunities12
DDIC market shareHIMX Driver IC Market Share by Application2015 Q3 Driver Market ShareRaydium 3%Focaltech2% OthersMagnaChip3%3Q154Q157%27.3%Samsung30%Ilitek 4%28.3%21.5%Sitronix5%18.8%15.4%Silicon Works7%12.2%17.0%14.0%Novatek20%Synaptics 9%Himax10%Large PanelOne of the leading players in display driver ICs Key differentiation from IC peers - total solutionoffering of image processing related technologies andleverage of existing strength in mobile devicesTabletAutoSource: Trendforce, IHS iSupply and Company EstimatesSource: IHS iSupply and company estimates (This covers all TFT-LCD and OLED DDICs) Smartphone Large panel DDIC market share expanding across panel makers,especially in China, as a result of their capacity expansion and insourcing strategySmartphone market share should improve when AMOLED DDICshipment starts to top-tier Korean customer in 1Q16Solidly positioned as a market share leader in tablet and autoapplication13
1Grow large panel DDIC unitsales and market sharePanel Maker Capacity Expansion PlanMarket TrendsContinuous new TFT-LCD capacity expansion in remainsaggressive with a special focus on advanced displaytechnologiesThe newly built Gen 8.5 capacity is all located in China, and by2019, leading Chinese panel maker’s market share will likelybe world No. 34K TV will continue to motivate purchase interest andcontribute to much higher 4K TV penetration rate goingforwardMakersSamsungLGD4Q14G8.560K( 5K)SuZhou1Q152Q153Q1565K( 5K)G8.5 90K( 30K)GuangzhouG8.5 120K( 25K)TaichungAUOINXBOECSOTCECPanda4Q151H162H1690K( 25K)110K( 20K)2018120K(30K)135K( 15K)G8.5 40KKaoHsiungG8.5 115K G8.5 90KChong( 25K)QingHeFaiG8.5 120K G10.5 90KFuZhouHeFaiG8.5 100KShenZhenG8.5 60KNanJingHIMX Strategies and Market Position Major beneficiary from growing China panel market as a market share leader as they continue to source morepanels locally for local and export demands Himax’s stands strong as OEMs actively seeking total solution providers for better performance, simpler supplychain, and more reliable engineering support Penetrating into Korean 4K TV customersCUSTOMERS2017Source: Trendforce14
2Grow S/M panel DDICLaunch new productsMarket TrendsDDIC in smartphone and tablet applications remain thebackbone of the company as a global market share leaderKorean and Chinese smartphone customers seeking productdifferentiation with AMOLED panelsTablet Display TrendsSmartphone Display Trends2560QHD1920FHD21604K2K2014 andbeyond Brand16001536WQXGAApple12001280Automotive IC market to grow at the highest rate among allapplications at a 6.7% CAGR from 2014 to 2019960854800640Virtual Reality (VR) headsets using OLED displays is a newmarket480HIMX Strategies and Market VGA (iphone4)Pure in-cell TDDI market acceptance gaining traction320 480 640360 540 7201280 14402012Brand2013BrandWXGAAppleWSVGAWVGA2012 White2013 WhiteBrandBrand800 1024 1280 1920 2048 2560White BrandBrand3840Apple Capitalize on resolution trend. Work closely with panel makers and end-customers of top-tier smartphone ODMs Comprehensive product portfolio: smartphone driver ICs including QHD, FHD, HD720, qHD, and WVGA; tablet driver ICsincluding higher resolution products up to WQXGA and 4K2K Leverage new design win with a new leading customer in China Pure in-cell (or TDDI) ready as an industry pioneer Anticipate AMOLED DDICs to kick off a new growth cycle for smartphone and VR applications in 2016 Firmly position company in automotive space with comprehensive customer and product portfolioCUSTOMERS15
3LCOS MicrodisplayDesign, manufacture, shipMarket TrendsHead mounted technology is about to change the world. AR product development for business,industrial, search, gaming, social media, military, toy, automotive and other consumer marketsLimited companies provide the combination of R&D, joint development and manufacturingexpertiseSignificant barrier of entry to new market entrants and existing technology companies withoutscalable manufacturingFront Lit LCOS Advantages Form Factor /Compact Design Brightness Power Efficiency MP Efficiency and ReadinessEndReflectorLight RodPBSHIMX Strategies and Market Position LCOS industry’s market leader with proprietary technologies, strong patent protection onLCOS crystal process and module, in-house facilities and shipping record 2M units Front-Lit LCOS technology to enhance product performance and greatly simplifycustomers’ manufacturing process - successfully engaged multiple top-tier customers Primary product focus is Head-Mounted Display (HMD), Heads-Up Display (HUD) &industrial applications Continue close collaboration with Google and other multinational companies on nextgeneration AR devices LCOS technology recognized as most superior to other competing technologies in AR/VRapplications Higher gross margin than company average without much increase of OPEX Continue to gain new project engagements with tier 1 customers in addition to approx. 30current customers Inflection point in 2015 September with mass production starting in 1Q16CUSTOMERS120⃝ ObserverOptical Engine with LCOS Module16
TouchPanelpanelControllerscontrollers4 TouchMarket TrendsIntegration of Display & Touch by panel makers and OEMs(Unit, mn)Touch Controller IC Addressable Market Forecast (Units)2,5002,0471,556 TDDI pure in-cell solution started small volume production inQ4’15 and to generate meaningful volume starting 2H16 as earlymover Close partnerships with essentially all of the leading panelmanufacturers, module houses, and OEMs1,3611,500 Rapid growth since 4Q11 Started several key on-cell MPs from 3Q152,3681,7942,000HIMX Strategies and Market 72018Source: DisplaySearch and company estimates Launched force touch products in 2015 and have secured designwins for leading smartphone makers’ 2016 models10” Tablet PCGFF5.5” SmartphoneGFFCUSTOMERS5” SmartphoneOn-cell OLM1.3” Smart WatchOGS-OLM17
sensorsCMOSImageimageSensors5 CMOSMarket TrendsResolution Trend by CMOS Image Sensor2013 – 2019 8% CAGRCIS development accelerating in functionality and new applications(Unit: Mps)Advanced Wafer-Level Optics (WLO) is the future for computationaloptics and 3D sensing Low end smartphone market kept trending caused a weak 2015 CIS high sensitivity, low noise, cost effective, and low powerconsumption design with solid pixel technologies remainscompetitive Introduced industry leading ultra low power computer visionsensors and Near Infrared (NIR) sensors for 3D and next-gensmartphone, tablets, AR/VR and IoT devices WLO application includes light-field camera, array camera, dualcolor LED in flash, and 3D sensing In-house know-how and manufacturing facilities Inflection point in 2015 for small volume pilot productionshipments of HMD wave-guide; mass production in ,5027045,456HIMX Strategies and Market Position One of the market share leaders in notebook 4201520162017201820193,3973062013 3M5M6489438M8791,56683213M 13MSource: IHS 2015 Q1NIR CIS &Machine VisionNano Imprint DOEStructureCompactModule Compact Diffractive Optical Element (DOE) integratedlaser projector for mobile devices, automotive, AR/VRdevices, and IoT applicationsCUSTOMERS18
TCON6 Timing controllersMarket TrendsHimax eDP TCON in TV Gaining Momentum(Unit, K)TCON becoming the key enabler of next generation ultra-highresolution panel developmentHIMX Strategies and Market Position The beginning of a multi-year growth with expanded adoptionfrom MNT & NB to 4K TV New TFT-LCD capacity plan in China in 2015 and beyond remainsaggressive with a special focus on advanced display technologies Himax's eDP 1.4 TCON is the first to debut in the market tosupport 4K2K resolution Unique total solution that pairs with Nvidia G-Sync and AMDFreeSyncTM to eliminate screen tearing, minimize stutter, andaddress panel system power consumption challenge Possible eDP adoption in smartphones, tablets and VR devices eDP outperforms MIPI when display resolution trends beyondFHD to QHD, 2K or even 4K eDP 1.4 delivers huge improvement over previous versionsCUSTOMERS19
2015 YTDFinancial Review20
Shipment and revenue historyRevenuesUnit Volume(unit, M)(US M)1,5161,500 1,0001,400 9181,3371,2971,3091,300 900 841 8331,152 1,156 1,1651,200 8001,100 771 7451,069 737 6929751,000900 700 600800 692 643 633 540719 500700600 400460500 300 300400300221 200 13220092100 10034 56 002002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 20152002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 YoY decline due to Korean customer product change and the decline in tablet and CMOS image sensors businesses21
A better balanced product mix . Growing large-sized panel drivers in 2015 and beyond Global market share leader in small and medium-sized panel driver ICs despite weak market sentiment Further diversify products and expand customer portfolio in various segments Increasing non-driver sales to diversify sales base and improve gross margin LCOS and WLO hit inflection point in 2015 September with small volume pilot shipment and massproduction in 1Q16Total solution component providerCategory Product MixRevenues(US M)100% 918 833 692 643 633 737 771 841 3201420150%200720082009Large Panel Drivers20102011S/M Panel Drivers2012Non-Driver22
.and a diversified customer baseCustomer MixLargely reduced dependence on one single customer, Innolux. Diversifying product revenues by non-driver product wins and leveraging existing customers Innolux disposed of its entire equity holding in Himax on June 19th, 2013, ending its status asHimax’s related party Growing shipment to new panel manufacturer customers in China, Korea and Taiwan since 2013Customer DiversificationRevenues 918 833 643 692 633 737 771 841 69277.4%80.4%78.9%22.6%19.6%21.1%201320142015(US lux20112012Non Innolux23
Grossmarginis a key business focusGross marginRevenues 1,4 00.0Gross Margin %(US M)24.9%24.5% 1,2 00.023.6%24.5%22.0% 1,0 00.021.0% 918.2 840.5 832.8 737.3 80 0.0 692.420.5% 770.719.8% 691.8 642.7 633.023.1% 60 0.0 40 0.007 20 0.0 415 4Q 11 marks the inflection point for GM expansion as aresult of new product launches GM retraction in 2015 is from higher mix of sales in Chinaand competitive price points in market for LDDIC Successful transformation in 2012 to increase sales by 16.5% GM improvement Resolution migration will improve GM of SMDDIC 2014 4Q marks highest revenue since 4Q 2008 Favorable product mix with higher non-driver sales 2015 sales declined due to Korean customer product changepercentage is positive for corporate GMand the decline in tablet and CMOS image sensor businesses LCOS and WLO developments and associated NRE Positive on long term growthwill lift corporate GM in 2016 and beyond24
The bottom lineOPEX and % of Total SalesGAAP Net Income and EPS(US M / %)(US M / US ) 200 0.5717.2% 25017.3%14.2%10.7%15.5%19.1%15.2%15.8%14.0% 0.39 0.400.20.5 0.15 0.06 150 200 0.30 0.21 0.19 0.3600.1 112.6 150 100 143.9 133.2 98.1 98.3 99.7 109.0-0.5 132.5 1000 117.5 76.4 103.5-0.1 61.5 66.6-1 51.6 50 50 39.7 33.2-0.2 25.2-1.5 10.7 0 8200920102011201220132014 Currently streamlining core business R&D efforts and doing expense control through product integration Despite ongoing expense control in response to macro uncertainties, still expanding in LCOS and WLO withexciting growth opportunities Will resume profitability growth in 2016 Debt free201525
Performance historyOperating and R&D ExpensesEBITDA(US M)(US M) 160 140 120 56.3 41.4 38.1 100.6 100 90.1 37.1 120 29.9 27.0 100 23.3 80 32.6 60 80 79.5 76.4 57.5 49.1 60 40 47.5 40 87.6 71.3 76.4 79.0 70.9 80.4 91.8 30.1 94.4 20 20 0 0200820092010R&D Expense201120122013201420152008 2009 2010 2011 2012 2013 2014 2015Operating Expense ex. RD More controlled OPEX Continuous R&D commitment 2014 and 2015 OPEX include RSU 9.3mn & 4.5mn Positive long term profitability outlook26
Reported financials – Income ited)(Unaudited)(Audited)Revenues from others, netRevenues from related parties, net 177,9770 227,1790 165,5820 691,7890* 840,5420*TOTAL REVENUES177,977227,179165,582691,789840,542Cost of revenuesGross profit ( )Gross margin g expensesResearch and developmentGeneral and administrativeSales and 585,46894,42218,47019,57491,83920,19221,126Total operating expenses32,12333,40338,533132,466133,157Operating income (loss)Non-operating incomeIncome (loss) before income tax and noncontrolling ,779)30,6722,19532,86772,72512,76985,494Income tax expenseNet income (loss)Add:Net loss attributable to the noncontrolling 11,40521,4623,73321,59163,9032,695GAAP Net income (loss) attributable to Himax shareholders 6,130 15,625( 2,332) 25,195 66,598Non-GAAP Net income attributable to Himax shareholders 1,682 19,148 1,682 30,606 9.49.41.01.017.817.844.244.2For the Fiscal Period EndedGAAP Earnings (loss) per ADS attributable to Himax shareholders (in cents)BasicDilutedNon-GAAP Earnings per ADS attributable to Himax shareholders (in cents)BasicDiluted*From September 30th, 2013, Himax no longer reports related party sales from Innolux27
Reported financials – Cash Flow StatementDecember31, 2015Summaryof Cash d)(Unaudited)(Audited) 4)(385)( 8500 4,905)(6,475)5,987(516) ,0382,357(3,262)(5)Net cash provided by (used in) operating activities 25,866 14,143 22,529 93,719Net cash provided by (used in) investing activities( 2,191)( 19,458) 28,342 10,644( 141)( 49,424)( 51,364)( 46,204)(92)(130)(216)(13)Net increase (decrease) in cash and cash equivalents 23,442( 54,869)( 55,637) 58,146Cash and cash equivalents at beginning of period 106,387 161,256 185,466 127,320Cash and cash equivalents at end of period 129,829 106,387 129,829 185,466Net income (loss)Depreciation and amortizationShare-based compensation expensesGain on disposal of investment securities, netDeferred income tax expense (benefit)Inventories write downsDecrease (increase) in accounts receivableDecrease (increase) in inventoriesIncrease (decrease) in accounts payableIncrease (decrease) in income tax payableIncrease (decrease) in other accrued expenses and other current liabilitiesOthersNet cash used in financing activitiesEffect of foreign currency exchange rate changes28
Reported financials – Balance SheetDecember31,Sheet2015BalanceDecember 31, 2015September 30, 2015December 31, 2014(Unaudited)(Unaudited)(Audited)Current Assets:Cash, cash equivalents and marketable securities available-for-saleRestricted cash equivalents and marketable securitiesAccounts receivable, netInventoriesOther current assets 126,012180,442167,975177,69427,736 126,012180,442167,975177,69427,736TOTAL CURRENT 28,13811,21157,27128,1386,1735,8186,219Balance SheetASSETSInvestment securitiesProperty and equipment, netGoodwillOther AssetsTOTAL ASSETS 185,466130,179219,368166,10518,341729,576 802,337 785,602 832,994 180,000124,42336,030352,7304,6103,656438,7042,637 ) ) 802,337 785,602 832,994LIABILIITESCurrent liabilities:Short-term debtAccounts payableOther current liabilitiesTOTAL CURRENT LIABILIITESOther liabilitiesRedeemable noncontrolling interestHimax shareholders' equityNoncontrolling interestTOTAL LIABILITIES* Short term debt is guaranteed by restricted cash29
Foundersand managementManagement& Board teamDr. Biing-Seng Wu, Chairman of the Board - Dr. Wu, the founder of Himax, previously served as President, CEOand a director of Himax Taiwan. As a pioneer of TFT-LCD panel industry in Taiwan, Dr. Wu has been active in the TFTLCD panel industry for over 20 years. With 61 patents related to Flat Panel Display granted worldwide, Dr. Wu hasmade significant contributions to Taiwan panel industry including the completion and operation of Taiwan’s very firstTFT-LCD plant, the winner of Outstanding Industry Contribution Award at the Gold Panel Awards 2009 from Ministry ofEconomic Affairs, etc. Dr. Wu holds a B.S. degree, an M.S. Degree and a Ph.D. Degree in Electrical Engineering fromNational Cheng Kung University. With well-recognized outstanding research and development capabilities, Dr. Wureceived numerous awards including National Invention Award of Taiwan from Taiwan Executive Yuan in 1992,Research Achievement Awards from Industrial Technology Research Institute for consecutive 2 years in 1992 and 1993,ERSO Award from Pan Wen Yuan Foundation in 2008, etc.Jordan Wu, President, CEO and Director - Mr. Wu previously served as the chairman of the board of HimaxTaiwan since April 2003. Prior to joining Himax Taiwan, he served as CEO of TV Plus Technologies, Inc. and CFO andexecutive director of DVN Holdings Ltd. in Hong Kong. Mr. Wu holds a B.S. degree in Mechanical Engineering fromNational Taiwan University and an M.B.A. degree from the University of Rochester.Chih-Chung Tsai, Chief Technology Officer, Senior VP - Prior to joining Himax Taiwan, Mr. Tsai served as vicepresident of IC Design of Utron Technology from 1998 to 2001, and manager and director of the IC Division of SunplusTechnology from 1994 to 1998. Mr. Tsai holds a B.S. degree and an M.S. degree in Electrical Engineering from NationalChiao Tung University.Jackie Chang, Chief Financial Officer - Before joining Himax, Ms. Chang was the CFO of Castlink Corporation andVP of Finance and Operations for PlayHut, Inc. Prior to that, Ms. Chang was General Manager -Treasury Control forNissan North America. She held several positions in Nissan North America during 1994 -2006 including finance,treasury planning, operations and accounting. She holds a BBA in Accounting from the National Chung-HsingUniversity in Taiwan and an MBA in Finance from Memphis State University.30
ContactContact usJohn MattioJackie Chang, CFOMain: 886-2-2370-3999 #22300US Office: 1 (949) 585-9838 #252jackie chang@himax.com.twCompanyPenny Lin, IR ManagerUS InvestorRelationsMain: 1 (203) 885-1099Direct: 1 (203) rporateCounselMain: 886-2-2370-3999 #22320penny lin@himax.com.twSEC LegalCounselNadiya Chen, IR ManagerMain: 886-2-2370-3999 #22513nadiya chen@himax.com.twAuditor31
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