Egis Technology Inc (神盾), the world’s second-biggest fingerprint sensor supplier, yesterday said that it has secured orders to supply its products to South Korea’s Hyundai Motor Co and its affiliate, Kia Motors Corp, in its latest bid to expand its presence in the higher-margin automotive components segment.
In a statement, the firm said that since May, it has been shipping fingerprint sensor products for Hyundai’s Genesis models and Kia’s new flagship K9 sedans.
Egis’ fingerprint sensors are used in vehicle activation and unlocking on Kia vehicles, along with the Kia Pay system, replacing the previous password mode, the statement said.
Photo: Screen grab from Egis Technology Inc’s Web site
Kia’s fingerprint recognition system allows vehicle owners to personalize settings.
When Kia owners start their vehicle using Egis’ fingerprint sensor, the feature automatically adjusts the seat position, side and back mirrors, internal temperature and dashboard, the statement said.
The personalized fingerprint recognition system can be connected to a payment function, Kia Pay, replacing the password with biometrics to authorize the payments, it added.
Over the past few years, Egis, which supplies fingerprint sensors to Samsung Electronics Co, as well as Oppo Mobile Telecommunications Corp (歐珀) and other Chinese phone makers, has found applications for its fingerprint sensors in segments other than smartphones.
To generate new growth, it has expanded product lineups beyond fingerprint sensors, even as the COVID-19 pandemic has hit revenue and disrupted supply chains.
The firm’s revenue last year fell 15 percent to NT$6.22 billion (US$222.17 million), or earnings per share of NT$9.14, down from NT$12.6 in 2019.
Revenue in the first six months of this year continued to trend downward, declining 42.77 percent to NT$1.82 billion, compared with NT$3.17 billion in the same period last year.
Egis shareholders on Monday voted to distribute a cash dividend of NT$15 per share.
Separately yesterday, chip testing and packaging service provider King Yuan Electronics Co (京元電子) said that its board of directors approved to increase this year’s capital expenditure for the company and its subsidiary to NT$16 billion — the highest in the company’s history.
The new amount is 70 percent more than the NT$9.38 billion previously budgeted by the firm, King Yuan said in a regulatory filing.
The firm plans to use the capital to expand its manufacturing capacity in Taiwan and China, while meeting demand from customers and market conditions, it added.
King Yuan last week reported revenue of NT$1.98 billion for last month, a monthly decline of 30.86 percent and an annual decline of 20.52 percent.
The company’s revenue last month was its lowest in 26 consecutive months, as King Yuan’s operations were affected by a temporary quarantine of workers due to a cluster of COVID-19 infections at its plant in Miaoli County’s Jhunan Township (竹南).
In the first six months of this year, cumulative revenue increased 3.88 percent year-on-year to NT$15.23 billion, company data showed.
Additional reporting by staff writer
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