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104 Annual Report 2018

Mar 27, 2019

52296_rns_2019-03-27_8a1d3c41-9038-4e83-9b2e-22846e09186f.pdf

Annual Report

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104 Corporation (TSE:3130)

A Total Solution Provider in the Chinese HR Services Market

March 2019

Safe Harbor Statement

This presentation contains some forward-looking statements that are subject to substantial risks and uncertainties. Typically, these statements contain words such as “anticipate," “believe,” “could,” “estimate,” “expect,” “intend,” “plan,” ‘’forecast,” “project,” “predict,” “potential,” “continue,” “may,” “should,” “will” and “would” or similar words. You should consider these forward-looking statements carefully because such statements are only our expectations or projections about future events; and actual results may differ materially from those expressed or implied by such statements.

You should be cautioned that the forward-looking statements are not the guarantees of our future performance. The forward-looking statements contained in this presentation are made only as of the date of this presentation and we undertake no obligation to update the forward-looking statements to reflect subsequent events or circumstances, except as required by law.

This presentation and the information contained herein is the property of 104 Corporation.

2

Agenda

  • Company Profile

  • Services and Products

  • Financial Review and Dividend Policy

  • 104 Value Map

3

In 1996, 104 was established

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“For jobseekers, we don’t just help find jobs—we forge careers; and for employers, we don’t just help find workers—we manage talent.”

by Rocky Yang, founder and chairman of 104

4

Company Profile

  • Market Position Core Competence Financial Strengths

  • 104 Job Bank was  Strong database:  Zero debt. established: 1996. 7. 91 million resumes, 75% college  Solid NT$ 2.07 billion graduated/ above,

  • First job bank to IPO in cash position. Taiwan: 2006. 348K corp. customers. (Dec. 2018) (Dec. 2018)

  • First job bank in Taiwan to  Proven capability to  Comprehensive range of generate cash even in

  • get ISO 27001, BS 10012 HR related services. difficult economic

  • and ISO 29100 accreditation. periods.  Competitive candidate matching and job  High satisfaction &

  • recommendation recognition of 104 brand

  • ISO/IEC 27001 system. & services.

  • (Information Security Management System) BS 10012

(Personal Information Management System) ISO/IEC 29100 (Privacy Framework)

5

Source: Company data

Core Services and Products

Business Segments

Mobile Apps

For Job Seekers

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•
Vast, easy, & accessible platform
•
Career map & value added services
104 Learn
Training Program
Posting Services
104 Case 104 Tutor
Case Outsourcing Tuition Posting
Posting Services Services
104 Job Bank
Job Posting HR Academy
Services
HR Mgmt. Solutions
& Consultancy
104 Ads
HR Advertisement 104 Hunter
Services
Executive Search
Services
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Job-Search App
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Talent-Search App
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For Corporate Users

  • Large and diversified resume pool

  • Variety of integrated HR services

6

Source: Company data

Revenue Performance

Consolidated Revenue

(Unit: NT$’000)

Time Monthly Revenue Accumulated Revenue YoY YoY Amount Feb. 2019 Feb. 2018 2019 2018 Total 111,133 100,066 11.06% 227,857 218,552 4.26%

Quarterly Revenue

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2016 2017 2018 2019
(Unit: NT$/M)
500
415 414
395 401
400 344 361 367 376 383 351 384 381
300
228
200
100
1Q 2Q 3Q 4Q
Jan-Feb
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(Unit: NT$/M)

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Source: Company data
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7

FY 2018 Income Statements

FY 2018 Income Statements FY 2018 Income Statements FY 2018 Income Statements FY 2018 Income Statements FY 2018 Income Statements FY 2018 Income Statements
(Unit: NT$’000, except for EPS)
FY 2018 % FY2017 % YoY
Operating Revenue 1,577,612 100% 1,539,995 100% 2.44%
OperatingCosts 159,204 10.1% 150,154 9.8% 6.03%
Gross Profit 1,418,408 89.9% 1,389,841 90.2% 2.06%
OperatingExpenses 1,095,299 69.4% 1,031,682 67.0% 6.17%
SellingExpenses 601,196 38.1% 552,749 35.9% 8.76%
Administrative Expenses 171,257 10.9% 180,871 11.7% (5.32%)
Research & Development Expenses 322,846 20.5% 298,062 19.4% 8.32%
Operating Income 323,109 20.5% 358,159 23.3% (9.79%)
Non-OperatingIncome and Expenses 28,946 1.8% 23,626 1.5% 22.52%
Income Before Income Tax 352,055 22.3% 381,785 24.8% (7.79%)
Less: Income Tax Expenses 69,972 4.4% 63,122 4.1% 10.85%
Net Income 282,083 17.9% 318,663 20.7% (11.48%)
Basic EPS 8.51 9.60

Source: Company data

8

FY 2018 Balance Sheets

(Unit: NT$’000) (Unit: NT$’000) (Unit: NT$’000) (Unit: NT$’000) (Unit: NT$’000)
2018.12.31 % 2017.12.31 %
Cash & Cash Equivalents 2,072,669 85% 2,043,470 87%
NR & AR,Net 47,564 2% 38,236 2%
Other Receivables 21,905 1% 9,104 0%
Total Current Assets 2,157,428 89% 2,105,443 90%
Property,Plant and Equipment 243,851 10% 206,619 9%
Total Assets 2,435,248 100% 2,342,299 100%
Contract Liability- Current 446,687 18% - -
NP,AP and Other Payables 368,167 15% 319,438 14%
Deferred Revenue - - 391,760 17%
Total Current Liabilities 929,198 38% 801,391 34%
Total Liabilities 934,864 38% 808,604 35%
Total Equity 1,500,384 62% 1,533,695 65%

Source: Company data

9

FY 2018 Cash Flow Statements

FY 2018
FY 2017
Net Cash Flows from Operating Activities
414,209
444,515
Income Before Tax
352,055
381,785
Depreciation and Amortization Expenses
44,001
54,931
Other OperatingSources
18,153
7,799
Net Cash Flows Used in Investing Activities
(53,875)
(30,356)
Acquisition of Financial Assets at Fair Value through
Profit or Loss
(4,922)
-
Acquisition/Disposal of Property,Plant and Equipment
(42,910)
(29,957)
Acquisition of Intangible Assets
(4,039)
(1,026)
Other InvestingSources(Uses)
(2,004)
627
Net Cash Flows Used in Financing Activities
(318,650)
(358,838)
Cash Dividends Paid
(318,650)
(358,838)
Effect of Exchange Rate Changes
(1,289)
(681)
Net Increase in Cash and Cash Equivalents
40,395
54,640
(Unit: NT$’000)		 FY 2018
FY 2017
Net Cash Flows from Operating Activities
414,209
444,515
Income Before Tax
352,055
381,785
Depreciation and Amortization Expenses
44,001
54,931
Other OperatingSources
18,153
7,799
Net Cash Flows Used in Investing Activities
(53,875)
(30,356)
Acquisition of Financial Assets at Fair Value through
Profit or Loss
(4,922)
-
Acquisition/Disposal of Property,Plant and Equipment
(42,910)
(29,957)
Acquisition of Intangible Assets
(4,039)
(1,026)
Other InvestingSources(Uses)
(2,004)
627
Net Cash Flows Used in Financing Activities
(318,650)
(358,838)
Cash Dividends Paid
(318,650)
(358,838)
Effect of Exchange Rate Changes
(1,289)
(681)
Net Increase in Cash and Cash Equivalents
40,395
54,640
(Unit: NT$’000)		 FY 2018
FY 2017
Net Cash Flows from Operating Activities
414,209
444,515
Income Before Tax
352,055
381,785
Depreciation and Amortization Expenses
44,001
54,931
Other OperatingSources
18,153
7,799
Net Cash Flows Used in Investing Activities
(53,875)
(30,356)
Acquisition of Financial Assets at Fair Value through
Profit or Loss
(4,922)
-
Acquisition/Disposal of Property,Plant and Equipment
(42,910)
(29,957)
Acquisition of Intangible Assets
(4,039)
(1,026)
Other InvestingSources(Uses)
(2,004)
627
Net Cash Flows Used in Financing Activities
(318,650)
(358,838)
Cash Dividends Paid
(318,650)
(358,838)
Effect of Exchange Rate Changes
(1,289)
(681)
Net Increase in Cash and Cash Equivalents
40,395
54,640
(Unit: NT$’000)
FY 2018 FY 2017
Net Cash Flows from Operating Activities 414,209
444,515
Income Before Tax 352,055
381,785
Depreciation and Amortization Expenses 44,001
54,931
Other OperatingSources 18,153
7,799
Net Cash Flows Used in Investing Activities (53,875) (30,356)
Acquisition of Financial Assets at Fair Value through
Profit or Loss		 (4,922) -
Acquisition/Disposal of Property,Plant and Equipment (42,910) (29,957)
Acquisition of Intangible Assets (4,039) (1,026)
Other InvestingSources(Uses) (2,004) 627
Net Cash Flows Used in Financing Activities (318,650) (358,838)
Cash Dividends Paid (318,650) (358,838)
Effect of Exchange Rate Changes (1,289) (681)
Net Increase in Cash and Cash Equivalents 40,395
54,640

10

Source: Company data

Dividend Policy

(Unit: NT$)

0
2
4
6
8
10
12
14		 78%
89%
86%
82%
75%
80%
90%
100%
100%
40%
60%
80%
100%
120%
2010
2011
2012
2013
2014
2015
2016
2017
2018
EPS (LHS)
Cash Dividend Per Share (LHS)
Payout Ratio (RHS)		 78%
89%
86%
82%
75%
80%
90%
100%
100%
40%
60%
80%
100%
120%
2010
2011
2012
2013
2014
2015
2016
2017
2018
EPS (LHS)
Cash Dividend Per Share (LHS)
Payout Ratio (RHS)		 78%
89%
86%
82%
75%
80%
90%
100%
100%
40%
60%
80%
100%
120%
2010
2011
2012
2013
2014
2015
2016
2017
2018
EPS (LHS)
Cash Dividend Per Share (LHS)
Payout Ratio (RHS)		 78%
89%
86%
82%
75%
80%
90%
100%
100%
40%
60%
80%
100%
120%
2010
2011
2012
2013
2014
2015
2016
2017
2018
EPS (LHS)
Cash Dividend Per Share (LHS)
Payout Ratio (RHS)		 78%
89%
86%
82%
75%
80%
90%
100%
100%
40%
60%
80%
100%
120%
2010
2011
2012
2013
2014
2015
2016
2017
2018
EPS (LHS)
Cash Dividend Per Share (LHS)
Payout Ratio (RHS)		 78%
89%
86%
82%
75%
80%
90%
100%
100%
40%
60%
80%
100%
120%
2010
2011
2012
2013
2014
2015
2016
2017
2018
EPS (LHS)
Cash Dividend Per Share (LHS)
Payout Ratio (RHS)		 78%
89%
86%
82%
75%
80%
90%
100%
100%
40%
60%
80%
100%
120%
2010
2011
2012
2013
2014
2015
2016
2017
2018
EPS (LHS)
Cash Dividend Per Share (LHS)
Payout Ratio (RHS)		 78%
89%
86%
82%
75%
80%
90%
100%
100%
40%
60%
80%
100%
120%
2010
2011
2012
2013
2014
2015
2016
2017
2018
EPS (LHS)
Cash Dividend Per Share (LHS)
Payout Ratio (RHS)		 78%
89%
86%
82%
75%
80%
90%
100%
100%
40%
60%
80%
100%
120%
2010
2011
2012
2013
2014
2015
2016
2017
2018
EPS (LHS)
Cash Dividend Per Share (LHS)
Payout Ratio (RHS)		 78%
89%
86%
82%
75%
80%
90%
100%
100%
40%
60%
80%
100%
120%
2010
2011
2012
2013
2014
2015
2016
2017
2018
EPS (LHS)
Cash Dividend Per Share (LHS)
Payout Ratio (RHS)
FY 2010 2011 2012 2013 2014 2015 2016 2017 2018
EPS 7.72 6.71 5.67 7.46 9.41 9.99 12.04 9.60 8.51
Cash Dividend
Per Share		 6.0 6.0 4.55 6.0 7.0 8.0 10.8 9.60 8.51
Payout Ratio(%) 78% 89% 87% 82% 75% 80% 90% 100% 100%
Avg. Stock Price 112.6 99.23 76.06 90.06 122.24 151.94 139.15 151.47 169.20
Yield Rate(%) 5.33% 6.05% 5.98% 6.66% 5.73% 5.27% 7.76% 6.34% 5.03%
11
Source:TWSE &Company data
* 2018 cash dividend has been approved by the board meeting in March 2019, and shall be
submitted for approval by the Annual General Shareholders’ Meeting on May 29, 2019.

104’s Mission

50% profit margin Higher ageing rate Elderly care platform to support current workers and families

65 years old

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Career, talent, & knowledge management

15 years old

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Lowest birth rate Enable children to find their gifts and compete

C M Cloud Mobile

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O S
Open Social
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104 Career Platform Management

Professional Development Through Social Networking

Adoption of Open APIs to Enrich Services and Achieve a Triple-Win

Clazzrooms

https://clazzrooms.com/

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https://plus.104.com.tw

Plus

Job Bank

Third Party Service Providers

https://www.104.com.tw/

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Giver

104

https://beagiver.com/

  • CRM Chatbot

Senior https://senior.104.com.tw/ jobs

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Case

https://case.104.com.tw/

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Executive Search

https://hunter.104.com.tw/

Web App

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https://learn.104.com.tw/

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https://tutor.104.com.tw/

  • HR Law Platform

  • Resume & Career Consulting Center

Learn

Tutor

13

HR Capital Management Solutions

On-Premise & Customized for Large Companies

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eHRMS

人力資源管理系統

Deploy Define Talent Talent http://ehr.104.com.tw/ Develop Discover Talent Talent

HR Market Place

  • HR Training & Dev. Courses

  • Enterprise Resources Mgmt. Solution

• Employee Convenience Shop

HR Portal

Cloud-Based & Standardized for SME

14

For Seniors

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Sharing of Wisdom

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Dignity and Autonomy

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Senior Jobs
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Care U
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https://senior.104.com.tw/

https://104careu.104.com.tw/

  • Part-time & full-time jobs for retirees & seniors to open their new chapters.

  • To share and pass down their valuable experience & knowledge to next generation.

  • In-home caregiver coaches Platform.

  • Customized self-supporting care plan supported by collaborative medical & healthcare professionals.

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Touring Art &
Handicraft
Consulting Cooking
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Insufficient Improved
caregiving knowledge health outcomes
Teaching & consulting
Reference Image 15
by 104 Caregiver Coach
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For K-12

Explore Talents

Explore Careers

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https://star.104.com.tw/
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World of Work
https://wow.104.com.tw/
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  • Resources to explore talent: Activities, contests and learning programs.

  • Explore a variety of careers based on 104’s job data.

  • Explore, analyze, record and demonstrate children’s gifts and talent.

  • Ask career-related questions to volunteers in different occupations.

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Logical-
mathematical Interpersonal
Bodily-Kinesthetic
Musical Linguistic
Multiple Intrapersonal Spatial
Intelligences Naturalist
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Construction
Sports Trans. MFG
Engineering
Military,
Police
Media
Fin. Inv.
& Mgmt.
Career Creative Arts
Map Leisure Medical & Fashion 16
Healthcare
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Thank you For more information, please contact:

Brenda Shih, VP, Chairman’s Office 886-2-2912-6104 ext. 9688 / [email protected]

Kendrah Chen, IR

886-2-2912-6104 ext. 9692 / [email protected]

17

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