CMI Business Summary

Complex Micro Interconnection (CMI; 6835.TW) operates a specialized "one-stop" electronic manufacturing model, integrating Flexible Printed Circuits (FPC), wire harnesses, and Surface Mount Technology (SMT) assembly. The company generates the majority of its revenue (approximately 91%) from high-reliability FPCs, with the remainder derived from specialized cable assemblies and automotive lighting modules. Unlike mass-market competitors, CMI focuses on high-mix, low-volume niche segments including military-grade ruggedized computing, medical diagnostic equipment, and electric vehicle (EV) power management systems. As of March 2026, the company is aggressively diversifying its production footprint, with its new Thailand facility (CMI Thailand) entering mass production to serve global EMS clients and mitigate geopolitical risks. CMI competes primarily against larger FPC players like Zhen Ding Technology, Flexium Interconnect, and Career Technology, but maintains a distinct market position by offering integrated interconnect solutions that reduce assembly complexity for Tier-1 industrial and aerospace OEMs. The company was founded in 1980 by Chairman Chang Chih-Chung (張志中), who remains the strategic architect of its transition from a component supplier to a high-end solutions provider. The current executive leadership includes Vice Chairman and General Manager Tu Shu-Min (杜淑敏) and General Manager Chang Chih-Chang (張志昌), both of whom possess extensive backgrounds in precision engineering and global supply chain management. CMI’s board and shareholder base feature notable industry pedigree, including significant stakes held by Yageo Group Chairman Pierre Chen (Tie-Min Chen) and Kaimei Electronic Corp, signaling strong institutional confidence from Taiwan’s passive component ecosystem. This leadership team has successfully steered the company toward high-margin certifications, such as AS9100 for aerospace and ISO 13485 for medical devices, ensuring long-term contract stability with blue-chip international partners including Panasonic and various North American medical device manufacturers.