Apex — Interim / Quarterly Report 2021

Aug 19, 2021

APEX 泰鼎 Sam Wu, CSO

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© August 2021 Apex International Co., Ltd.
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Company Profile

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Company Name Apex International (4927) Product Rigid Printed Circuit Boards Founded September 2001 Ground Area Apex 1 – 35,000 M[2] Apex 2 & 3 – 105,000 M[2 ] , 56,000M[2 ] (Nearby) Apex S – 8,544 M[2] Paid-in Capital NTD 1.89 Billion Employee 7,771(as of June 2021) IPO listed in Taiwan OTC on 18[th] October 2011 Relisted in TWSE on 8[th] September 2015 Physical Lab R&D center and in-house testing lab 2019

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Production Capacity Plan: (unit: square meter)

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	Plant	Jan., 2021 Q3, 2021 2022
	A 1	APEX 3 320,000 320,000 320,000
	A 2	290,000 290,000 290,000
	A S	170,000 170,000 170,000
	A 3	n. a. 70,000 250,000
		780,000 850,000 1,030,000

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2021 Second Quarter Financial Results

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Quarterly Results: (QoQ/YoY Comparison)

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(NTD)	2Q21	2Q20	1Q21	YoY	QoQ
Revenue (THB)	3,911M	3,179M	3,483M	+23.0%	+12.3%
Revenue	3,493M	2,983M	3,260M	+17.1%	+7.1%
Gross Profit	667M	672M	616M	-0.8%	+8.3%
Gross Margin	19.1%	22.5%	18.9%
Operating Profit	301M	343M	203M	-12.1%	+48.3%
Net Profit	293M	348M	155M	-16.0%	+88.7%
Net Margin	8.4%	11.7%	4.8%
EPS	1.53	1.83	0.81	-16.4%	+88.9%

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Quarterly Results: (1H21 vs. 1H20)

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(NTD)	1H21	1H20	YoY
Revenue (THB)	7,394M	5,887M	+25.6%
Revenue	6,753M	5,588M	+20.9%
Gross Profit	1,284M	1,232M	4.2%
Gross Margin	19.0%	22.0%
Operating Profit	505M	621M	-18.8%
Net Profit	448M	633M	-29.3%
Net Margin	6.6%	11.3%
EPS	2.35	3.32	-29.2%

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2021 Monthly Revenue (in NTD)

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		2020 2021 Unit (NTD Thousand)	2020 2021 Unit (NTD Thousand)	2020 2021 Unit (NTD Thousand)	2020 2021 Unit (NTD Thousand)	2020 2021 Unit (NTD Thousand)	2020 2021 Unit (NTD Thousand)	2020 2021 Unit (NTD Thousand)	2020 2021 Unit (NTD Thousand)	2020 2021 Unit (NTD Thousand)	2020 2021 Unit (NTD Thousand)	2020 2021 Unit (NTD Thousand)	2020 2021 Unit (NTD Thousand)	2020 2021 Unit (NTD Thousand)
	400,000 600,000 800,000 1,000,000 1,200,000 1,400,000 1,600,000
	Revenue	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
	2021	1,119,312	1,102,313	1,039,230	1,269,671	1,126,261	1,096,507	1,429,989	-	-	-	-	-
	2020	840,001	942,240	822,525	1,013,750	964,629	1,004,673	1,272,634	1,048,539	901,667	1,088,910	1,001,866	931,210

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2021 Monthly Revenue (in THB)

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		2020 2021 Unit (THB Thousand)	2020 2021 Unit (THB Thousand)	2020 2021 Unit (THB Thousand)	2020 2021 Unit (THB Thousand)	2020 2021 Unit (THB Thousand)	2020 2021 Unit (THB Thousand)	2020 2021 Unit (THB Thousand)	2020 2021 Unit (THB Thousand)	2020 2021 Unit (THB Thousand)	2020 2021 Unit (THB Thousand)	2020 2021 Unit (THB Thousand)	2020 2021 Unit (THB Thousand)	2020 2021 Unit (THB Thousand)
	400,000 600,000 800,000 1,000,000 1,200,000 1,400,000 1,600,000 1,800,000
	Revenue	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
	2021	1,181,332	1,167,605	1,133,766	1,402,487	1,264,827	1,243,560	1,655,723	-	-	-	-	-
	2020	849,172	978,205	879,999	1,094,386	1,031,760	1,052,729	1,351,277	1,107,931	966,165	1,170,766	1,058,405	981,848

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2017-2021 Gross & Operating Margin: by Quarter

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2017-2021 Revenue and Profit: by Quarter

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Unit: 100 Million NTD

	1Q17	2Q17	3Q17	4Q17	1Q18	2Q18	3Q18	4Q18	1Q19	2Q19	3Q19	4Q19	1Q20	2Q20	3Q20	4Q20	1Q21	2Q21
EPS (NTD)	0.5 0.03 0.05 0 0.7 0.99 2.16 1.55 1.43 1.41 1.4 0.22 1.5 1.83 1.89 1.09 0.81 1.53

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Gross & Operating Margin: FY20 vs. 1H21

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Cash flows

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1H21 Revenue by Product Mix

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Quarterly Revenue by Product Mix

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1H21 Revenue by Layer Count

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ROE and ROA:

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Dividend Policy

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Year	Cash Dividend	Stock Dividend	EPS	AGM Date
2020	3.00(Note1)	-	6.31	July 2
2019	3.00	-	4.46	June 5
2018	2.46	-	5.45	June 5
2017	0.00	-	0.59	June 15
2016	0.78	0.32	2.23	June 15
2015	2.50	-	4.34	June 15
2014	2.50	-	4.06	June 2

Note 1: Based on fully-diluted shares

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Dividend Policy

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APEX ESG

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Top 6-20% in Corporate
Governance Evaluation;
AREA -Investment in People;
Zer o Fire Project
Community Services and
Donations;
Happy and Safe Workplace;
Customer Services and
Energy Saving;
Suppliers Cooperation
Water Saving;
Waste Recycling;
GHG Inventory and
Disclosure;
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APEX ESG

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Fighting COVID-19:FAI & FAQ

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APEX ESG

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For more information, please refer to APEX's ESG report

URL：http://www.apex-intl.com.tw/en/csr-7.php

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Thank You