ChipMOS REPORTS FOURTH QUARTER AND FULL YEAR 2019 RESULTS

Full Year 2019 Highlights (as compared to the Full Year 2018):

10.1% Growth in Revenue to US$680.0 Million from US$617.9 Million; Both a Record High and the Highest Annual Revenue Growth Since 2015

14.5% Increase in Gross Profit to US$131.3 Million from US$114.7 Million

70 Basis Points Improvement in Gross Margin to 19.3% from 18.6%

Net Earnings of NT$3.55 or US$0.12 per Basic Common Share or US$2.38 per Basic ADS Compared to Net Earnings of NT$1.37 or US$0.05 per Basic Common Share or US$0.92 per Basic ADS

Generated US$200.4 Million in Cash from Operations in 2019

NT$1.80 Per Share Distribution Authorized by Board Pending Shareholder Approval at June 9,2020 AGM

HSINCHU,March 10,2020 /PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES INC. ("ChipMOS"or the "Company") (Taiwan Stock Exchange:8150 and NASDAQ: IMOS),an industry leading provider of outsourced semiconductor assembly and test services ("OSAT"),today reported unaudited consolidated financial results for the fourthquarter and full year ended December 31,2019.All U.S. dollar figures cited in this press release are based on the exchange rate of NT$29.91against US$1.00 as of December 31,2019.

All the figures were prepared in accordance with Taiwan-International Financial Reporting Standards ("Taiwan-IFRS").

Revenue for the fourthquarter of 2019was NT$5,571.5millionor US$186.3million,an increaseof 3.2%from NT$5,399.1million or US$180.5millionin the third quarter of 2019 and an increaseof 12.1%from NT$4,972.3million or US$166.2million for the same period in 2018. Net profit attributable to equity holders of the Company for the fourth quarter of 2019 was NT$530.0 million or US$17.7 million,and NT$0.73 or US$0.02 per basic common share,as compared to net profit attributable to equity holders of the Company for the third quarter of 2019 of NT$585.9 million or US$19.6 million,and NT$0.81 or US$0.03 per basic common share,and compared to net profit attributable to equity holders of the Company in the fourth quarter of 2018 of NT$516.6 million or US$17.3 million,and NT$0.71 or US$0.02 per basic common share. Net earnings for the fourth quarter of 2019 were US$0.49 per basic ADS,compared to US$0.54 per basic ADS for the third quarter of 2019 and US$0.48 per basic ADS in the fourth quarter of 2018.

Revenue for the fiscal year ended December 31,2019was NT$20,337.9millionor US$680.0million,an increase of 10.1%from NT$18,480.0 million or US$617.9 million for the fiscal year ended December 31,2018. Net profit attributable to equity holders of the Company for the fiscal year ended December 31,2019was NT$2,584.2 million or US$86.4 million,and NT$3.55 or US$0.12 per basic common share,compared to net profit attributable to equity holders of the Company for the fiscal year ended December 31,2018was NT$1,103.1 million or US$36.9 million,and NT$1.37 or US$0.05 per basic common share. Net earnings for the fiscal year ended December 31,2019were US$2.38 per basic ADS,compared to US$0.92 per basic ADS for the fiscal year ended December 31,2018.

S.J. Cheng,Chairman and Presidentof ChipMOS,said,"This was a strong year for us as we achieved 10.1% revenue growth for the full year 2019 over 2018 – both a record high revenue level and the highest annual revenue growth since 2015. We also achieved meaningful improvements in profitability,reporting net earnings of NT$3.55 per basic common share or US$2.38 per basic ADS. We continue to drive improvements in our business and financial metrics,while prudently balancing high-return investments to support growth across our base of diversified customers and end markets. Of note,we improved our overall utilization to 76% in Q4 from 74% in Q3,as we benefitted from increased demand for TDDI products given the higher content per unit in newer phones,combined with robust demand trends in our memory business in the second half of the year. We expect these drivers to remain in place as we move through 2020,positioning us to benefit from long-term catalysts driving higher demand from increased AI and automation,larger displays and the ongoing proliferation of smart phone advancements. Importantly,we are executing with close oversight on operating and capital expenses,as we focus on improving revenue growth and higher profitability in the current macroeconomic environment. We are slowing down our CapEx investments and focusing on improvements through automation,while maintaining a strong financial position and balance sheet in order to maintain our leading market position,while navigating the current fluid market situation."

Silvia Su,Vice President of Finance and Accounting,commented,"We achieved 10.1% revenue growth for the full year 2019 compared to 2018,while decreasing CapEx over the same period. Our focus on leveraging our high margin businesses and high return programs allowed us to expand our gross margin to22.7% in Q4 up from 21.4% in Q3,and 19.3% for the full year 2019 up from 18.6% in 2018. We meaningfully increased our cash generation with US$200.4 million generated in cash from operations in 2019,and ended the year with a cash and cash equivalents balance of US$157.3 million. During 2019,we distributed our latest cash dividend to investors of NT$1.2 per common share or US$0.764 per ADS,on August 30th to common stock holders and on September 9th to ADS holders,as we remain focused on building further value for the Company and its shareholders. In addition,our Board has approved a resolution to distribute NT$1.80 per share pending shareholder approval at our AGM on June 9,2020. This underscores the Company's position as a high cash dividend,high yield investment vehicle for investors."

Selected Operations Data

4Q19

4Q18

FY19

FY18

Revenue by segment

Testing

20.8%

23.5%

20.9%

25.9%

Assembly

27.2%

24.6%

25.3%

25.3%

LCD Driver

31.8%

33.7%

34.1%

30.8%

Bumping

20.2%

18.2%

19.7%

18.0%

CapEx

US$57.0 million

US$57.0 million

US$163.8 million

US$165.4 million

Testing

16.7%

21.0%

15.5%

31.7%

Assembly

15.5%

5.6%

11.2%

6.5%

LCD Driver

59.2%

69.5%

62.9%

55.2%

Bumping

8.6%

3.9%

10.4%

6.6%

Depreciation and amortization expenses

US$32.0 million

US$28.8 million

US$124.8 million

US$112.9 million

Utilization by segment

Testing

77%

73%

71%

77%

Assembly

81%

69%

72%

64%

LCD Driver

70%

81%

74%

80%

Bumping

75%

75%

74%

72%

Overall

76%

75%

73%

74%

Condensed consolidated statements of cash flows

Year ended

Dec. 31,2019

Year ended

Dec. 31,2018

US$ million

US$ million

Net cash generated from (used in) operating activities

200.4

138.1

Net cash generated from (used in) investing activities

(142.0)

(171.5)

Net cash generated from (used in) financing activities

(56.1)

(80.3)

Net increase (decrease) in cash and cash equivalents

2.3

(113.7)

Effect of exchange rate changes on cash

(0.2)

0.2

Cash and cash equivalents at beginning of year

155.2

268.7

Cash and cash equivalents at end of year

157.3

155.2

Investor Conference Call / Webcast Details

ChipMOS will host two conference calls on Tuesday,2020 to discuss the Company's financial results for the fourth quarter and full year of 2019.

Date: Tuesday,2020

Time: 4:00PM Taiwan (4:00AM New York)

Dial-In: +886-2-21928016

Password: 779324 #

Webcast of Live Call and Replay: http://wms.gridow.com/ir/chipmos/chipmos_2019Q4_ch.html

Replay Starting 2 Hours After Live Call Ends

Language: Mandarin

Date: Tuesday,2020

Time: 8:00PM Taiwan (8:00AM New York)

Dial-In: +1-323-794-2551

Password: 5643349

Replay Starting 2 Hours After Live Call Ends: +1-412-317-6671,with ID 5643349

Webcast of Live Call and Replay: http://wms.gridow.com/ir/chipmos/chipmos_2019Q4_en.html

Language: English About ChipMOS TECHNOLOGIES INC.:

ChipMOS TECHNOLOGIES INC. ("ChipMOS" or the "Company") (Taiwan Stock Exchange: 8150 and NASDAQ: IMOS) (https://www.chipmos.com)is an industry leading provider of outsourced semiconductor assembly and test services. With advanced facilities in Hsinchu Science Park,Hsinchu Industrial Park and Southern Taiwan Science Park in Taiwan,ChipMOS provide assembly and test services to a broad range of customers,including leading fabless semiconductor companies,integrated device manufacturers and independent semiconductor foundries.Forward-Looking Statements

This press release may contain certain forward-looking statements. These forward-looking statements may be identified by words such as 'believes,' 'expects,' 'anticipates,' 'projects,' 'intends,' 'should,' 'seeks,' 'estimates,' 'future' or similar expressions or by discussion of,among other things,strategy,goals,plans or intentions. These statementsmayinclude financial projections and estimates and their underlying assumptions,statements regarding plans,objectives and expectations with respect to future operations,products and services,and statements regarding future performance. Actual results may differ materially in the future from those reflected in forward-looking statements contained in this document,due to various factors. Further information regarding these risks,uncertainties and other factors are included in the Company's most recent Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission (the "SEC") and in the Company's other filings with the SEC.About Non-Generally Accepted Accounting Principles ("Non-GAAP") Financial Measures

To supplement the consolidated financial results presented in accordance with the Taiwan-IFRS,ChipMOS uses non-GAAP free cash flow,non-GAAP earnings before interest,taxes,depreciation and amortization ("EBITDA") and non-GAAP net debt to equity ratioin this press release. The non-GAAP free cash flow represents operating profit plus depreciation,amortizationandinterest income and less capital expenditures,interest expense,income tax expense and dividend. The non-GAAP EBITDA represents operating profit plus depreciation and amortization.The non-GAAP net debt to equity ratio represents the ratio of net debt,the sum of debt less cash and cash equivalent,divided by equity attributable to equity holders of the Company. These non-GAAP financial measures may not be comparable to similarly titled measures presented by other companies. Other companies may calculate similarly titled measures differently.The presentation of non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with the Taiwan-IFRS.ChipMOS considers the use ofnon-GAAPfree cash flow,non-GAAP EBITDA and non-GAAP net debt to equity ratio provides useful information to management to manage the Company's business and make financial and operational decisions and also to the investors to understand and evaluate the Company's business and operating performance. For more information on these non-GAAP financial measures,please refer to the table captioned "Reconciliations of Non-GAAP Measures to the Nearest Comparable GAAP Measures" in this press release.Contacts:In TaiwanJesse HuangChipMOS TECHNOLOGIES INC.+886-6-5052388 ext. 7715IR@chipmos.comIn the U.S.David PasqualeGlobal IR Partners+1-914-337-8801dpasquale@globalirpartners.com- FINANCIAL TABLES FOLLOW BELOW -ChipMOS TECHNOLOGIES INC.

UNAUDITED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

For the Three Months and the Year Ended Dec. 31,2019 and 2018

Figures in Millions of U.S. dollars (USD) (1)

Except for Per Share Amounts and Weighted Average Shares Outstanding

3 months ended

Year ended

Dec. 31,2019

Dec. 31,2018

Dec. 31,2018

USD

USD

USD

USDRevenue186.3

166.2

680.0

617.9Cost of revenue(143.9)

(128.3)

(548.7)

(503.2)Gross profit42.4

37.9

131.3

114.7

Research and development expenses(8.5)

(8.0)

(33.7)

(31.4)Sales and marketing expenses(0.5)

(0.5)

(1.9)

(1.8)General and administrative expenses(4.1)

(3.7)

(16.7)

(16.2)Other income (expenses),net0.8

0.8

3.1

4.9

Operating profit30.1

26.5

82.1

70.2

Non-operating income (expenses),net(7.5)

(3.4)

19.2

(10.6)

Profit before tax 22.6

23.1

101.3

59.6

Income tax expense(4.9)

(5.8)

(14.9)

(22.7)

Profit for the period17.7

17.3

86.4

36.9

Other comprehensive income (loss)

Exchange differences on translation of foreign

operations(1.2)

0.9

(3.5)

(1.7)Profit (loss) on remeasurements of defined

benefit plans0.7

(2.0)

0.7

(2.0)Unrealized gain (loss) on valuation of equity

instruments at fair value through other

comprehensive income(0.6)

1.0

(1.7)

2.8Share of other comprehensive income (loss) of

associates and joint ventures accounted

for using equity method0.1

-

0.2

(0.1)Income tax effect0.0

0.2

0.2

(0.1)Total other comprehensive income (loss)(1.0)

0.1

(4.1)

(1.1)

Total comprehensive income16.7

17.4

82.3

35.8

Profit attributable to the Company - basic17.7

17.3

86.4

36.9Earnings per share attributable to the Company -

basic0.02

0.02

0.12

0.05Earnings per ADS equivalent - basic0.49

0.48

2.38

0.92Weighted average shares outstanding (in

thousands) - basic727,240

726,925

727,111

802,725Profit attributable to the Company - diluted17.7

17.3

86.4

36.9Earnings per share attributable to the Company -

diluted0.02

0.02

0.12

0.05Earnings per ADS equivalent - diluted0.49

0.47

2.34

0.91Weighted average shares outstanding (in

thousands) - diluted729,443

730,212

737,116

813,707Note:(1) All U.S. dollar figures in this release are based on the exchange rate of NT$29.91 against US$1.00 as of Dec. 31,2019. The

convenience translation should not be construed as representations that the NT dollar amounts have been,or could be in the

future be,converted into US dollars at this or any other exchange rate.

ChipMOS TECHNOLOGIES INC.UNAUDITED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOMEFor the Three Months and the Year Ended Dec. 31,2019 and 2018Figures in Millions of NT dollars (NTD)Except for Per Share Amounts and Weighted Average Shares Outstanding

3 months ended

Year ended

Dec. 31,2018

NTD

NTD

NTD

NTDRevenue5,571.5

4,972.3

20,337.9

18,480.0Cost of revenue(4,304.6)

(3,837.5)

(16,411.8)

(15,050.0)Gross profit 1,266.9

1,134.8

3,926.1

3,430.0

Research and development expenses(254.0)

(240.3)

(1,007.6)

(939.3)Sales and marketing expenses(15.3)

(14.8)

(56.1)

(53.4)General and administrative expenses(122.7)

(112.9)

(498.2)

(485.1)Other income (expenses),net25.7

25.1

92.9

147.5

Operating profit 900.6

791.9

2,457.1

2,099.7

Non-operating income (expenses),net(224.7)

(100.8)

573.2

(317.3)

Profit before tax 675.9

691.1

3,030.3

1,782.4

Income tax expense(145.9)

(174.5)

(446.1)

(679.3)

Profit for the period530.0

516.6

2,584.2

1,103.1

Other comprehensive income (loss)

Exchange differences on translation of foreign

operations(34.9)

26.3

(104.2)

(51.1)Profit (loss) on remeasurements of defined

benefit plans20.9

(60.0)

20.9

(60.0)Unrealized gain (loss) on valuation of equity

instruments at fair value through other

comprehensive income(17.0)

31.4

(52.5)

85.0Share of other comprehensive income (loss) of

associates and joint ventures accounted for

using equity method2.1

-

5.7

(2.7)Income tax effect(0.8)

5.7

6.3

(4.1)Total other comprehensive income (loss)(29.7)

3.4

(123.8)

(32.9)

Total comprehensive income 500.3

520.0

2,460.4

1,070.2

Profit attributable to the Company - basic530.0

516.6

2,103.1Earnings per share attributable to the Company -

basic0.73

0.71

3.55

1.37Earnings per ADS equivalent - basic14.58

14.21

71.08

27.48Weighted average shares outstanding (in

thousands) - basic727,725Profit attributable to the Company - diluted530.0

516.6

2,103.1Earnings per share attributable to the Company -

diluted0.73

0.71

3.51

1.36Earnings per ADS equivalent - diluted14.53

14.15

70.12

27.11Weighted average shares outstanding (in

thousands) - diluted729,707ChipMOS TECHNOLOGIES INC.UNAUDITED CONSOLIDATED STATEMENTS OF FINANCIAL POSITIONAs of Dec. 31,Sep. 30,2019,and Dec. 31,2018Figures in Millions of U.S. dollars (USD) (1)

Dec. 31,2019

Sep. 30,2018ASSETSUSD

USD

USDCurrent assets

Cash and cash equivalents157.3

155.0

155.2Current financial assets at amortized cost5.7

5.8

5.7Accounts and notes receivable,net148.9

174.3

158.7Inventories59.1

59.2

59.5Other current assets22.3

19.7

18.4Total current assets393.3

414.0

397.5

Non-current assets

Non-current financial assets at fair value through

profit or loss0.4

0.4

0.4Non-current financial assets at fair value through

other comprehensive income4.1

4.6

5.8Non-current financial assets at amortized cost2.3

3.3

3.3Investments accounted for using equity method113.4

115.8

129.2Property,plant & equipment601.1

576.1

562.3Right-of-use assets23.0

24.2

-Other non-current assets9.4

9.8

9.3Total non-current assets753.7

734.2

710.3Total assets1,147.0

1,148.2

1,107.8

LIABILITIES AND EQUITY

LIABILITIES

Current liabilities

Accounts payable and payables to contractors and

equipment suppliers 60.0

70.5

72.0Current lease liabilities0.8

1.2

-Long-term bank loans,current portion25.0

25.0

25.0Long-term lease obligations payable,current portion-

-

0.6Other current liabilities78.1

71.4

75.9Total current liabilities163.9

168.1

173.5

Non-current liabilities

Long-term bank loans277.3

289.9

302.3Non-current lease liabilities22.3

22.5

-Other non-current liabilities26.5

27.4

27.8Total non-current liabilities326.1

339.8

330.1Total liabilities490.0

507.9

503.6

EQUITY

Capital stock – common stock243.2

243.2

251.7Capital surplus202.6

202.6

210.0Retained earnings211.9

193.6

170.7Other equity interest(0.7)

0.9

4.0Treasury stock-

-

(32.2)Equity attributable to equity holders of the Company657.0

640.3

604.2Total equity657.0

640.3

604.2Total liabilities and equity 1,107.8

Note:(1) All U.S. dollar figures in this release are based on the exchange rate of NT$29.91 against US$1.00 as of Dec. 31,converted into US dollars at this or any other exchange rate.

ChipMOS TECHNOLOGIES INC.UNAUDITED CONSOLIDATED STATEMENTS OF FINANCIAL POSITIONAs of Dec. 31,2018Figures in Millions of NT dollars (NTD)

Dec. 31,2018ASSETSNTD

NTD

NTDCurrent assets

Cash and cash equivalents4,704.1

4,634.7

4,642.5Current financial assets at amortized cost169.0

173.6

169.2Accounts and notes receivable,net4,454.7

5,211.9

4,747.4Inventories1,767.7

1,772.1

1,778.8Other current assets666.9

590.1

550.2Total current assets11,762.4

12,382.4

11,888.1

Non-current assets

Non-current financial assets at fair value through

profit or loss11.0

11.1

11.5Non-current financial assets at fair value through

other comprehensive income121.8

138.8

174.4Non-current financial assets at amortized cost68.5

100.0

99.1Investments accounted for using equity method3,392.9

3,462.8

3,863.7Property,plant & equipment17,979.4

17,230.8

16,819.6Right-of-use assets687.1

722.4

-Other non-current assets282.8

293.7

277.3Total non-current assets22,543.5

21,959.6

21,245.6Total assets34,305.9

34,342.0

33,133.7

LIABILITIES AND EQUITY

LIABILITIES

Current liabilities

Accounts payable and payables to contractors and

equipment suppliers 1,792.3

2,109.5

2,154.4Current lease liabilities24.6

35.1

-Long-term bank loans,current portion748.4

748.3

747.4Long-term lease obligations payable,current portion-

-

17.8Other current liabilities2,336.4

2,135.4

2,270.6Total current liabilities4,901.7

5,028.3

5,190.2

Non-current liabilities

Long-term bank loans8,293.2

8,669.6

9,042.1Non-current lease liabilities668.4

674.3

-Other non-current liabilities791.4

818.9

830.6Total non-current liabilities9,753.0

10,162.8

9,872.7Total liabilities14,654.7

15,191.1

15,062.9

EQUITY

Capital stock – common stock7,272.4

7,528.6Capital surplus6,059.6

6,280.5Retained earnings6,339.0

5,791.5

5,104.5Other equity interest(19.8)

27.4

119.7Treasury stock-

-

(962.5)Equity attributable to equity holders of the Company19,651.2

19,150.9

18,070.8Total equity19,070.8Total liabilities and equity34,133.7RECONCILIATIONS OF NON-GAAP MEASURES TO THE NEAREST COMPARABLE GAAP MEASURES

(Figures in Millions of U.S. dollars (USD))The table below sets forth a reconciliation of our operating profit to non-GAAP free cash flow for the periods indicated:

Three months ended

Dec. 31,2018

USD

USD

USDOperating profit30.1

26.3

26.5Add: Depreciation32.0

31.9

28.8 Interest income0.5

0.5

0.5Less: Capital expenditures(57.0)

(61.8)

(57.0) Interest expense(1.4)

(1.4)

(1.4) Income tax expense(4.9)

(4.9)

(5.8) Dividend-

(29.2)

(8.6)Non-GAAP free cash flow(0.7)

(38.6)

(17.0)The table below sets forth a reconciliation of our operating profit to non-GAAP EBITDA for the periods indicated:

Three months ended

Dec. 31,2018

USD

USD

USDOperating profit30.1

26.3

26.5Add: Depreciation32.0

31.9

28.8Non-GAAP EBITDA62.1

58.2

55.3The table below sets forth a calculation of our non-GAAP net debt to equity ratio for the periods indicated:

Dec. 31,2018

USD

USD

USDLong-term bank loans

(including current portion)302.3

314.9

327.3Long-term lease obligations payable

(including current portion)-

-

0.6Lease liabilities

(including current portion)23.1

23.7

-Less: Cash and cash equivalents(157.3)

(155.0)

(155.2)Net debt168.1

183.6

172.7Equity attributable to equity holders

of the Company657.0

640.3

604.2Net debt to equity ratio25.6%

28.7%

28.6%

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