CHROMA — Call Transcript 2021

Sep 13, 2021

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致茂電子股份有限公司 2021年第2季業績發表電話會議

財務長 應正 董事長兼總經理 黃欽明

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2021年07月29日

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1

Disclaimer

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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. The forward-looking statements in this presentation include, but are not limited to, growth rates for various markets estimated by third party sources, future products and technology development, widespread market acceptance of the hosted delivery model, future revenue growth and profitability. You should be cautioned that the forward-looking statements are no guarantee 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 are the property of Chroma Ate Inc.

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2

議程

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• 財務數據

• • 營運概況

• • 問與答

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3

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財務數據

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4

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2021年上半年合併損益表摘要

	合併損益表 (單位:佰萬新台幣，除每股盈餘為新台幣元)	2021.1H %	2020.1H % YoY %
	淨營業收入	8,718 100%	7,200 100% 21%
	量測儀器事業部之合併營收(淨額)	6,705 77%	5,580 78% 20%
	威光自動化事業部之合併營收	364 4%	306 4% 19%
	日茂特殊材料事業部之合併營收	1,457 17%	1,171 16% 24%
	其他	192 2%	143 2% 34%
	營業成本	(4,546) (52%)	(3,591) (50%) 27%
	營業毛利	4,172 48%	3,609 50% 16%
	營業費用 推銷管理費用 研發費用	(1,947) (22%) (746) (9%)	(1,646) (23%) 18% (644) (9%) 16%
	營業淨利	1,479 17%	1,319 18% 12%
	營業外收入及支出	1,898 22%	65 1% 2820%
	稅前淨利 所得稅費用	3,377 39% (609) (7%)	1,384 19% 144% (303) (4%) 100%
	本期淨利	2,768 32%	1,081 15% 156%
	其他綜合損益淨額	207 2%	(69) (1%) n/a
	綜合損益總額	$ 2,975 34%	$ 1,012 14% 194%
	淨利歸屬於: 本公司業主 非控制權益	2,729 31% 39 1%	1,054 15% 159% 27 - 44%
		$ 2,768 32%	$ 1,081 15% 156%
	每股盈餘(基本)	$ 6.50	$ 2.53 157%
	每股盈餘(稀釋)	$ 6.47	$ 2.51 158%

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5

資產負債摘要及財務指標

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集團合併(單位：佰萬新台幣)		2021. 6 月	2020. 12月	+ / - %
資產負債摘要
現金及流動金融資產		5,373	4,442		21%
存貨		3,308	3,028		9%
短期負債		1,333	3,187	-	58%
長期負債		1,598	2,405	-	34%
股東權益		17,510	16,389		7%
總資產		28,815	28,129		2%
存貨週轉天數		125	130
應收帳款週轉天數		98	120
應付帳款週轉天數		108	122
淨負債資產比(%)		Net Cash	7%
股東權益報酬率(%)		14%	15%
資產報酬率(%)		8%	7%
現金流量(單位：佰萬新台幣)	2021.1H	2020.1H	同期比較
未計利息稅項折舊及攤銷	3,661	1,631	125%
營業現金流入	1,405	756	86%
自由現金流量	3,220	322	900%

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股東報酬率及資產報酬率皆已年化且扣除處分廠房設備利益。

自由現金流量 = 營運活動之淨現金流入 + ( 投資活動之淨現金流出 ) 。

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本季重點摘要

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第 2 季重點摘要
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• 總營業收入 : $24.5 億新台幣，

季下滑 8% ，年增長 6%

• 營業毛利率 : 54%

• 營業利益率 : 25%

• 淨利 : $4.8 億新台幣，

季減少 79% ，年減少 18%

• 2021 年第 2 季摘要 :

 本季主要營收增長自於量測與自 動化測試解決方案，分別較上季 。 成長 18% ，較去年同期增長 9%

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營業收入 營業毛利 營業利益率

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2,666
2,449
2,421
2,313 2,394
2,053
55% 55% 53% 54%
52%
51%
27% 26%
25% 25% 25%
22%
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2021.1Q

2021.2Q

2020.1Q

2020.2Q 2020.3Q 2020.4Q

7

2021年第2季損益表摘要(母公司)

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2021.2Q % 2021.1Q % QoQ 2020.2Q % YoY
損益表摘要 ( 母公司 )
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	表摘要 ( 母公	表摘要 ( 母公
	2021.2Q %
(單位:佰萬新台幣，除每股盈餘為新台幣元)		% %
淨營業收入	2,449 100%	2,666 100% (8%) 2,313 100% 6%
營業成本	(1,119) (46%)	(1,266) (47%) (12%) (1,112) (48%) 1%
營業毛利	1,330 54%	1,400 53% (5%) 1,201 52% 11%
營業費用 推銷管理費用 研發費用	(376) (15%) (344) (14%)	(370) (14%) 2% (330) (14%) 14% (333) (13%) 3% (302) (13%) 14%
營業淨利	610 25%	697 26% (12%) 569 25% 7%
營業外收入及支出	(3) -	1,933 73% n/a 145 6% n/a
稅前淨利	607 25%	2,630 99% (77%) 714 31% (15%)
所得稅費用	(126) (5%)	(382) (14%) (67%) (130) (6%) (3%)
本期淨利	$ 481 20%	$ 2,248 85% (79%) $ 584 25% (18%)
其他綜合損益淨額	75 3%	137 5% (45%) (1) - n/a
綜合損益總額	$ 556 23%	$ 2,385 90% (77%) $ 583 25% (5%)
每股盈餘(基本)	$ 1.14	$ 5.36 (79%) $ 1.40 (19%)
每股盈餘(稀釋)	$ 1.14	$ 5.33 (79%) $ 1.39 (18%)

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100% 持有之子公司淨利認列，日茂為獲利新台幣 1 仟 4 佰萬 ( 季成長 133% ，年成長 250%) ，威光為虧損新台幣 2 億 1 仟 4 佰萬。

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2021年上半年損益表摘要(母公司)

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2021.1H % 2020.1H % YoY
損益表摘要 ( 母公司 )
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	摘要 ( 母公司 )	摘要 ( 母公司 )
	2021.1H %
(單位:佰萬新台幣，除每股盈餘為新台幣元)		%
淨營業收入	5,115 100%	4,365 100% 17%
營業成本	(2,385) (47%)	(2,041) (47%) 17%
營業毛利	2,730 53%	2,324 53% 17%
營業費用 推銷管理費用 研發費用	(746) (14%) (677) (13%)	(672) (15%) 11% (580) (13%) 17%
營業淨利	1,307 26%	1,072 25% 22%
營業外收入及支出	1,930 37%	208 4% 828%
稅前淨利	3,237 63%	1,280 29% 153%
所得稅費用	(508) (10%)	(226) (5%) 125%
本期淨利	$ 2,729 53%	$ 1,054 24% 159%
其他綜合損益淨額	213 4%	(62) (1%) n/a
綜合損益總額	$ 2,942 57%	$ 992 23% 197%
每股盈餘(基本)	$ 6.50	$ 2.53 157%
每股盈餘(稀釋)	$ 6.47	$ 2.51 158%

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100% 持有之子公司淨利認列，日茂為獲利 2 仟萬新台幣 ( 年成長 33%) ，威光為虧損 1 億 9 仟 1 佰萬新台幣。

9

資產負債摘要及財務指標

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母公司(單位：佰萬新台幣)	2021. 6 月	2020. 12 月	+ / - %
資產負債摘要
現金及流動金融資產	1,622	902		80%
存貨	2,690	2,331		15%
短期負債	600	2,420	-	75%
長期負債	1,350	2,230	-	39%
股東權益	17,134	16,063		7%
總資產	25,176	24,406		3%
存貨週轉天數	189	184
應收帳款週轉天數	88	106
應付帳款週轉天數	93	96
淨負債資產比(%)	2%	23%
股東權益報酬率(%)	14%	15%
資產報酬率(%)	10%	10%

現金流量(單位：佰萬新台幣)	2021. 上半年	2020. 上半年	同期比較
未計利息稅項折舊及攤銷	3,407	1,409	142%
營業現金流入	1,100	663	66%
自由現金流量	3,136	102	2975%

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股東報酬率及資產報酬率皆已年化且扣除處分廠房設備利益。

自由現金流量 = 營運活動之淨現金流入 + ( 投資活動之淨現金流出 ) 。

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營運概況

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2021 年第 2 季及上半年產品銷售佔比與合併營收明細

2021 年第 2 季及上半年	2021 年第 2 季及上半年	2021 年第 2 季及上半年	產品 銷售佔比與合併營收明細
(單位:百萬新台幣) 量測及自動化檢測設備 半導體/ Photonics 測試解決方案 Turnkey Solutions 其它 母公司營業收入 +量測事業體海外據點及測試設備相關子公司 致茂電子檢測設備事業體 (含海外量測事業子公司) 威光自動化 日茂新材料 其它 集團合併營收			2021.2Q % QoQ YoY 2021.1H % YoY	2020 %
	量測及自動化檢測設備 半導體/ Photonics 測試解決方案 Turnkey Solutions 其它 母公司營業收入 +量測事業體海外據點及測試設備相關子公司 致茂電子檢測設備事業體 (含海外量測事業子公司)	量測及自動化檢測設備	1,349 55% 18% 9% 2,491 49% 3%	4,849 53%
		半導體/ Photonics 測試解決方案	803 33% (23%) (3%) 1,845 36% 23%	3,025 33%
		Turnkey Solutions	33 1% (84%) (45%) 245 5% 113%	456 5%
		其它	264 11% (2%) 41% 534 10% 60%	850 9%
		母公司營業收入	2,449 100% (8%) 6% 5,115 100% 17%	9,180 100%
		+量測事業體海外據點及測試設備相關子公司	910 34% 28% 1,590 31%	2,865
			3,359 76% - 11% 6,705 77% 20%	12,045 78%
			221 5% 55% 71% 364 4% 19% 765 17% 11% 25% 1,457 17% 24% 100 2% 9% 54% 192 2% 34%	618 4% 2,551 16% 318 2%
			4,445 100% 4% 16% 8,718 100% 21%	15,532 100%

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2021 年營運展望

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致茂電子集團 2021 年上半年累計合併營收達 87 億新台幣，較去年同期成長 21% 。母公司量測設備 事業體上半年累計營收達 51 億新台幣，較去年同期增加 17% ，半導體及 Photonics 測試解決方案為 。 主要營收成長動能，該產品線較 2020 年同期成長 23%

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2021 年營運展望

• 受惠於車用晶片需求增長、 5G 相關與 high performance chip (HPC) 市場快速發展，下半年半 導體及 Photonics 測試設備需求仍舊強勁，主要營收動能來自於 :

• CIS / VCSEL / ToF 測試設備。

• 無線通訊 RF 及 MCU 測試解決方案。

• IC 產品的可靠性測試 : Burn-in Test, SLT Test 及溫控檢測設備等為電動車重點測試規格。

• 量測及自動化檢測設備持續聚焦於綠能科技相關之檢測設備，包含電動車相關零組件、電池芯 / 電池模組 / 電池包、智慧電網及 5G / 伺服器等相關產業之電力電子測試需求。

• 隨市場於 AR/VR 頭戴式裝置發展增長，將帶動下半年相關檢測設備需求提升。

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13

TECHNOLOGY

Semiconductor / Photonics Test Solutions

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Fast & Flexible Operation
• Multi-sites: 6~24 Sites (SLT / FT Combo Module)
IC Test Handler • Temperature: Ultra Cold Temp. -70˚C ~150˚C
• IC DUT: Normal IC and bare die
• New stack integration for dual lots and multiple binning
2D / 3D / 2D+3D Metrology
Advanced
• XY / Z Resolution: 30nm / 0.05nm
Packaging
• Sensor: Optical & WLI dual modules with auto switch
Inspection
• Light Source: Multiple Light Sources
1H, ‘21 2H, ‘21
MARKET HPC (CPU/MCU/GPU), Ics, MEMS, PMIC, FPGA, Sensors Advanced Packaging Industry
FT & SLT Hybrid Test System 2D/3D Critical Dimension Metrology
3200 7980
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SOLUTION
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Semiconductor / Photonics Test Solutions

TECHNOLOGY

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High Voltage Burn-in
• Design for Photo Diode, Avalanche Photo Diode
Photonics Testing • High voltage SMU: Up to 80V DC
• High temperature burn-in: Up to 180℃
• Precise probing: pad ~ 80um
1H, ‘21 2H, ‘21
MARKET 3D Sensing, LiDAR, Automotive, Optical Fiber Communication
Photodiode Burn-in & Reliability
Test System 58606
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SOLUTION
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TECHNOLOGY

Test Instruments & ATS Solution

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Display Optical Test AR Display Image Quality Test
• Chromaticity 、 Luminance • Automated loading and unloading
Optical Testing • High accuracy ≤ ± 0.002 • High-precision mechanism
•
• 0.001 cd/m2 low luminance Measurement: Luminance, Chromaticity,
Uniformity, Contrast, Artifacts, Distortion, & MTF
• WB, pGamma, Auto Flicker
Passive Metal Film Resistor Test Application
Component Testing • Laser trimming insulation test (HV test)
• Quality test (Impulse/Inrush test)
1H, ‘21 2H, ‘21
MARKET Display Metal Film Resistor (MELF resistor, chip/SMD resistor) AR Glasses
Color Analyzer Battery Cell Surge Tester AR Image Quality Test System
71241 19311 76XX Series
SOLUTION
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TECHNOLOGY

Test Instruments & ATS Solution

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Programmable DC Source Bidirectional DC Supply, Regenerative
Power Electronics
• High Power Density: 1.7kW x 3ch in 1U • Bidirectional: Source & Load
Testing
• Voltage rating: Up to 600V • Power: 0~1200/1800V, 0-40A, 18kW
• Power rating: 1.7kW/3.4kW/5kW • Load Changed +90%~ -90%, <4ms
Charging Emulation
EV Testing • CHAdeMO E-Scooter standard
• Simulating multiple charging conditions
1H, ‘21 2H, ‘21
MARKET ICT and EV Power Electronics, Green Energy, Battery Storage E-Scooters/2-Wheelers
Programmable DC Power Supply
62017E-600P-3 Bidirectional DC Power Supply
62180D-1200/1800
CHAdeMO E-Scooter Emulation System
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SOLUTION

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8000

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TECHNOLOGY

Test Instruments & ATS Solution

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Li-ion Battery Test Application Li-ion Battery Test Application
• Voltage/Current: 1.5V-6V / 0-12A • Energy Regenerative
• High accuracy for cycle test: 0.02% @ F.S. • Fast current response up to 1mS
• Multi-current range: 4 ranges • Channel parallel output up to 1200A
Battery Testing
Battery Pack Power HIL Test
• Integrated with battery cycler
• Up to 500kW
1H, ‘21 2H, ‘21
MARKET Battery Cell/Module/Pack for EV, Energy Storage System, Green Energy, Power Tools
Battery Cell Charge & Discharge Tester Battery Charge & Discharge Tester Battery Pack Power HIL Testbed
17216 series 17212M-6-100S 8610
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SOLUTION

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==> picture [121 x 5] intentionally omitted <==

==> picture [193 x 5] intentionally omitted <==

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==> picture [141 x 48] intentionally omitted <==

Keep going beyond

Thank You !

==> picture [31 x 4] intentionally omitted <==

==> picture [53 x 5] intentionally omitted <==

==> picture [84 x 5] intentionally omitted <==

==> picture [121 x 5] intentionally omitted <==

==> picture [193 x 5] intentionally omitted <==

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