ALi — Interim / Quarterly Report 2019

Mar 20, 2020

ALi Corporation (3041 TT) 2H19 Investor Conference

March 20, 2020

Public

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2H19 Consolidated Income Statement

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(Amounts in thousand New Taiwan Dollars except Earnings
2H19 2H18 YoY
Per Share)
Net sales 1,017,046 100% 1,260,666 100% -19%
Cost of goods sold (574,944) (1,131,400) -49%
Gross profits 442,102 43% 129,266 10% 242%
Operating expenses:
Selling expenses (64,886) (122,317) -47%
Administrative expenses (136,753) (118,129) 16%
Research and development expenses (415,310) (497,467) -17%
expected credit loss (1,936) (27,202)
Total operating expenses (618,885) (765,115) -19%
Operating income (176,783) -17% (635,849) -50% -72%
Non-operating income and gain (expense & loss) 28,047 27,202 3%
Income before income tax (148,736) (608,647) -76%
Income tax (expense) benefit 26,543 116,406 -77%
Net income (122,193) (492,241) -75%
Earnings Per Share (in New Taiwan Dollars) (0.64) (3.13)
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2019 Consolidated Income Statement

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(Amounts in thousand New Taiwan Dollars except Earnings
2019 2018 YoY
Per Share)
Net sales 2,011,515 100% 2,412,587 100% -17%
Cost of goods sold (1,261,870) (1,987,374) -37%
Gross profits 749,645 37% 425,213 18% 76%
Operating expenses:
Selling expenses (124,001) (200,582) -38%
Administrative expenses (246,305) (231,200) 7%
Research and development expenses (831,607) (1,036,231) -20%
expected credit loss 4,121 (27,228)
Total operating expenses (1,197,792) (1,495,241) -20%
Operating income (448,147) -22% (1,070,028) -44% -58%
Non-operating income and gain (expense & loss) 58,630 58,470 0%
Income before income tax (389,517) (1,011,558) -61%
Income tax (expense) benefit 71,700 249,306 -71%
Net income (317,817) (762,252) -58%
Earnings Per Share (in New Taiwan Dollars) (1.68) (4.05)
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2H19 Consolidated Quarterly Results

 2H19 revenue reached NT$ 1,017million, YoY -19%  Gross profit was NT$ 442 million, GMP from 10% to 43%  Operating loss was NT$ 177 million, OPM from -50% to -17%

NT$ million

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1,600
Sales GPM (%) OPM (%)
1,400 80%
1,261
1,200
43%
1,017
1,000
30%
10%
800
600
-17%
-20%
400
-50%
200
- -70%
2H19 2H18
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2019 Consolidated Quarterly Results

 2019 revenue reached NT$ 2,012million, YoY -17%  Gross profit was NT$ 750million, GMP from 18% to 37%  Operating loss was NT$ 448 million, OPM from -44% to -22%

NT$ million

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3,000
Sales GPM (%) OPM (%)
80%
2,413
2,500
2,012
37%
2,000
30%
18%
1,500
1,000 -22%
-20%
-44%
500
- -70%
2019 2018
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Revenue Composition

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FY19
7%
28%
65%
30~35 %
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FY18
5%
32%
63%
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25~30% Pay-TV Operator STB Retail STB Others (Non-STB)

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Pay-TV Operator STB Retail STB Others (Non-STB)

2019 Consolidated Balance Sheet

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(Amounts in thousand New Taiwan Dollars except Key Indices)
Selected Items from Balance Sheet Dec 31, 2019 Jun 30, 2019 Dec 31, 2018
Cash, cash equivalents and investments
in marketable financial instruments 1,885,507 1,995,284 2,356,905
Notes and accounts receivable 215,151 182,488 222,324
Inventory (net) 204,225 214,779 294,158
Other current assets 143,933 158,257 201,247
Total current assets 2,448,816 2,550,808 3,074,634
Long-term Investments 69,101 72,376 73,812
Net PP&E 589,198 629,744 609,452
Intangible assets 123,791 169,200 126,197
Other assets 755,874 730,367 583,401
Total assets 3,986,780 4,152,495 4,467,496
Notes and accounts payable 196,726 265,802 405,480
Other current liabilities 444,077 397,808 414,364
Non-current liabilities 11,242 19,865 6,746
Total liabilities 652,045 683,475 826,590
Total shareholders' equity 3,334,735 3,469,020 3,640,906
Key Indices
A/R Turnover Days (net) 42 35 36
Inventory Turnover Days (net) 61 73 61
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Thank You

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Public

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