Epistar has founded the Jingcheng Semiconductor subsidiary to focus on its foundry business, VSCELs, and GaN-on-Si power electronics. On June 25, 2018, the Board of Directors of Epistar passed a resolution that the NT$1 billion business value will be transferred to the newly founded subsidiary in exchange for a total of 100 million shares of Jingcheng Semiconductor. Jingcheng Semiconductor’s newly issued common share will be traded at NT$10 per share. Also as part of the spin-off, Dr. Ming-Jiunn Jou, the president of Epistar, resigned and will become the president of Jingcheng Semiconductor, and Mr. Chin-Yung Fan will succeed as the president of Epistar. The appointment will be effective July 16, 2018.
Jingcheng Semiconductor to Focus on Foundry Business, VCSELs, and GaN-on-Si Power Electronics
Epistar intends the spin-off to commit itself to professional services and improved resource allocation. Dr. Ming-Jiunn Jou, the president of the spin-off company plans to use Epistar Group’s core technologies to concentrate on the development of semiconductor foundry business such as VCSEL and GaN on Si power electronics. Overall the spin-off intends to increase the aggregate revenue, profitability and return on equity (ROE) and maximize the value of Epistar Group for shareholders, customers, suppliers, and employees.
Epistar which has been around for 20 years has had two presidents, Dr. Biing-Jye Lee and Dr. Ming-Jiunn Jou. Dr. Biing-Jye Lee had taken the lead for the first 10 years and now serves as the chairman of Epistar. Then, Dr. Ming-Jiunn Jou has managed the company’s operations for the next 10 years, up to the present. The company points out that in that time it has undergone several mergers and has become a leader in the LED industry.
Mr. Chin-Yung Fan will serve as the new president of Epistar. Mr. Chin-Yung Fan is currently the vice president of the Sales and Marketing Center and has been working in the company for 20 years. He has been in charge of marketing and quality management as well as InGaN and AlGaInP production.