Ennostar Holdings announced today a strategic consolidation of its LED business, revealing plans to merge subsidiaries Epistar and Lextar Electronics into a single entity tentatively named Ennostar Corporation. The merger, scheduled for October 1, 2025, comes as the company released its fourth quarter and full-year 2024 financial results showing continued losses despite revenue growth.
The consolidation represents the latest step in a multi-year integration strategy that began with the formation of Ennostar Holdings in January 2021. Company officials stated the merger will not affect shareholder equity but is designed to strengthen the company’s competitiveness in an increasingly challenging LED market.
Ennostar reported full-year 2024 consolidated revenue of NT$24.39 billion ($774 million), a 9.3% increase YoY. Despite the revenue growth and an 8.4% improvement in gross profit margin to 13.6%, the company posted a net loss of NT$1.39 billion ($44 million).
Fourth quarter results showed further challenges, with revenue of NT$5.51 billion ($175 million) declining 17.7% compared to the third quarter. The company recorded a Q4 net loss of NT$620 million ($20 million).
The forthcoming Ennostar Corporation aims to position itself beyond traditional LED manufacturing as an “optoelectronic integrated solution provider,” according to company statements. Management has committed to improving Return on Equity and profitability metrics going forward. This latest organizational restructuring follows earlier integration steps, including the swapping of chairmen between Epistar and Lextar in July 2024 to improve operational synergies.
