Taiwanese LED Lights Company Gives Lucrative Year-end Bonuses04-02-2015
Taiwanese LED manufacturer Everlight has entered into the global top five manufacturers, having finally joined the US$ 1 billion revenue club in 2014.
Unlike most European or American companies where year-end bonuses are given during Christmas holidays, Taiwanese companies like to issue year-end bonuses before the Chinese Lunar New Year holiday.
Everlight reports record high revenue growth for 2014
Everlight revenue increased 23.99% to reach NT $30.61 billion last year (US $1 billion). The company has plans of investing NT $10 billion over a period of three years to expand its production capacity. Everlight employees will be receiving an year-end bonus between two to four months.
LED lights products sales drove the company revenue to NT $2.63 billion in December,2014, while total 4Q14 revenue was NT$ 8.18 billion. The companys annual revenue also surpassed NT $30 billion for the first time to reach NT $30.61 billion. Financial institutes estimate the company gross margin exceeded 24%, and expects it to continue double digit growth throughout 2015.
Lextar lucrative package
Lextar too, reported a year-end bonus of at least two months. Employee benefits cover special bonuses during the Dragon Boat Festival, Mid-autumn Moon Festival, year-end bonuses, quarterly bonuses, and stock options. These are awarded according to employee performance, and progress of annual goals. The company usually issues bonuses before the Chinese Lunar New Year.
Epistar employees benefit from expanding parent company
Epistar revenue last year was up 24.55% to NT $27.71 billion compared to NT $22.25 billion in 2013.
Recently, Epistar announced plans of investing NT $825 million to buy TSMC SSL shares at NT $1.46 per share. Epistar will have a 94% stake in the former TSMC subsidiary after the investment. TSMC will give away its management rights, while the new TSMC SSL will be operated by current management and Epistar staff.
Epistar will be able to raise its production capacity, cost management, and integrate its client and product portfolio after merging with FOREPI. Epistar currently has been using small volumes of 6" epiwafers the company has manufactured, and will be able to greatly fasten the learning curve for large-sized epiwafers after the merge. The company is moving one step closer to epiwafer grade LED package technology.
The company guaranteed salary is 14 months, and includes bonuses for three major Chinese holidays including Dragon Boat Festival and Mid-autumn Moon Festival, where half a month of salary is given for each holiday. Epistar employees year-end bonus is usually one month. Besides, the company provides monthly and quarterly bonuses to employees that meet company targets.