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CHROMA Call Transcript 2022

Aug 26, 2022

52029_rns_2022-08-26_aca5efee-be7f-4116-a821-75a35c48434f.pdf

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致茂電子股份有限公司 2022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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2022年7月28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

合併損益表
(單位:佰萬新台幣,除每股盈餘為新台幣元)
2022.1H
%
2021.1H
%
YoY %
淨營業收入
9,334
100%
8,718
100%
7%
量測儀器事業部之合併營收(淨額)
8,118
87%
6,705
77%
21%
威光自動化事業部之合併營收
409
4%
364
4%
12%
日茂特殊材料事業部之合併營收
635
7%
1,457
17%
(56%)
其他
172
2%
192
2%
(10%)
營業成本
(4,247)
(45%)
(4,546)
(52%)
(7%)
營業毛利
5,087
55%
4,172
48%
22%
營業費用
推銷管理費用
(2,039)
(22%)
(1,947)
(22%)
5%
研發費用
(844)
(9%)
(746)
(9%)
13%
營業淨利
2,204
24%
1,479
17%
49%
營業外收入及支出
862
9%
1,898
22%
(55%)
稅前淨利
3,066
33%
3,377
39%
(9%)
所得稅費用
(522)
(6%)
(609)
(7%)
(14%)
本期淨利
2,544
27%
2,768
32%
(8%)
其他綜合損益淨額
450
5%
207
2%
117%
綜合損益總額
$ 2,994
32%
$ 2,975
34%
1%
淨利歸屬於:
本公司業主
2,512
27%
2,729
31%
(8%)
非控制權益
32
-
39
1%
(18%)
$ 2,544
27%
$ 2,768
32%
(8%)
EPS (Basic)
$ 5.98
$ 6.50
(8%)
EPS (Diluted)
$ 5.94
$ 6.47
(8%)
2022
年上半年累計合併
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)
2022.1H
%
2021.1H
%
YoY %
淨營業收入
9,334
100%
8,718
100%
7%
量測儀器事業部之合併營收(淨額)
8,118
87%
6,705
77%
21%
威光自動化事業部之合併營收
409
4%
364
4%
12%
日茂特殊材料事業部之合併營收
635
7%
1,457
17%
(56%)
其他
172
2%
192
2%
(10%)
營業成本
(4,247)
(45%)
(4,546)
(52%)
(7%)
營業毛利
5,087
55%
4,172
48%
22%
營業費用
推銷管理費用
(2,039)
(22%)
(1,947)
(22%)
5%
研發費用
(844)
(9%)
(746)
(9%)
13%
營業淨利
2,204
24%
1,479
17%
49%
營業外收入及支出
862
9%
1,898
22%
(55%)
稅前淨利
3,066
33%
3,377
39%
(9%)
所得稅費用
(522)
(6%)
(609)
(7%)
(14%)
本期淨利
2,544
27%
2,768
32%
(8%)
其他綜合損益淨額
450
5%
207
2%
117%
綜合損益總額
$ 2,994
32%
$ 2,975
34%
1%
淨利歸屬於:
本公司業主
2,512
27%
2,729
31%
(8%)
非控制權益
32
-
39
1%
(18%)
$ 2,544
27%
$ 2,768
32%
(8%)
EPS (Basic)
$ 5.98
$ 6.50
(8%)
EPS (Diluted)
$ 5.94
$ 6.47
(8%)
2022
年上半年累計合併
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)
2022.1H
%
2021.1H
%
YoY %
淨營業收入
9,334
100%
8,718
100%
7%
量測儀器事業部之合併營收(淨額)
8,118
87%
6,705
77%
21%
威光自動化事業部之合併營收
409
4%
364
4%
12%
日茂特殊材料事業部之合併營收
635
7%
1,457
17%
(56%)
其他
172
2%
192
2%
(10%)
營業成本
(4,247)
(45%)
(4,546)
(52%)
(7%)
營業毛利
5,087
55%
4,172
48%
22%
營業費用
推銷管理費用
(2,039)
(22%)
(1,947)
(22%)
5%
研發費用
(844)
(9%)
(746)
(9%)
13%
營業淨利
2,204
24%
1,479
17%
49%
營業外收入及支出
862
9%
1,898
22%
(55%)
稅前淨利
3,066
33%
3,377
39%
(9%)
所得稅費用
(522)
(6%)
(609)
(7%)
(14%)
本期淨利
2,544
27%
2,768
32%
(8%)
其他綜合損益淨額
450
5%
207
2%
117%
綜合損益總額
$ 2,994
32%
$ 2,975
34%
1%
淨利歸屬於:
本公司業主
2,512
27%
2,729
31%
(8%)
非控制權益
32
-
39
1%
(18%)
$ 2,544
27%
$ 2,768
32%
(8%)
EPS (Basic)
$ 5.98
$ 6.50
(8%)
EPS (Diluted)
$ 5.94
$ 6.47
(8%)
2022
年上半年累計合併
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)
2022.1H
%
2021.1H
%
YoY %
淨營業收入
9,334
100%
8,718
100%
7%
量測儀器事業部之合併營收(淨額)
8,118
87%
6,705
77%
21%
威光自動化事業部之合併營收
409
4%
364
4%
12%
日茂特殊材料事業部之合併營收
635
7%
1,457
17%
(56%)
其他
172
2%
192
2%
(10%)
營業成本
(4,247)
(45%)
(4,546)
(52%)
(7%)
營業毛利
5,087
55%
4,172
48%
22%
營業費用
推銷管理費用
(2,039)
(22%)
(1,947)
(22%)
5%
研發費用
(844)
(9%)
(746)
(9%)
13%
營業淨利
2,204
24%
1,479
17%
49%
營業外收入及支出
862
9%
1,898
22%
(55%)
稅前淨利
3,066
33%
3,377
39%
(9%)
所得稅費用
(522)
(6%)
(609)
(7%)
(14%)
本期淨利
2,544
27%
2,768
32%
(8%)
其他綜合損益淨額
450
5%
207
2%
117%
綜合損益總額
$ 2,994
32%
$ 2,975
34%
1%
淨利歸屬於:
本公司業主
2,512
27%
2,729
31%
(8%)
非控制權益
32
-
39
1%
(18%)
$ 2,544
27%
$ 2,768
32%
(8%)
EPS (Basic)
$ 5.98
$ 6.50
(8%)
EPS (Diluted)
$ 5.94
$ 6.47
(8%)
2022
年上半年累計合併
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)
2022.1H
%
2021.1H
%
YoY %
淨營業收入 9,334
100%
8,718
100%
7%
量測儀器事業部之合併營收(淨額) 8,118
87%
6,705
77%
21%
威光自動化事業部之合併營收 409
4%
364
4%
12%
日茂特殊材料事業部之合併營收 635
7%
1,457
17%
(56%)
其他 172
2%
192
2%
(10%)
營業成本 (4,247)
(45%)
(4,546)
(52%)
(7%)
營業毛利 5,087
55%
4,172
48%
22%
營業費用
推銷管理費用
研發費用
(2,039)
(22%)
(844)
(9%)
(1,947)
(22%)
5%
(746)
(9%)
13%
營業淨利 2,204
24%
1,479
17%
49%
營業外收入及支出 862
9%
1,898
22%
(55%)
稅前淨利
所得稅費用
3,066
33%
(522)
(6%)
3,377
39%
(9%)
(609)
(7%)
(14%)
本期淨利 2,544
27%
2,768
32%
(8%)
其他綜合損益淨額 450
5%
207
2%
117%
綜合損益總額 $ 2,994
32%
$ 2,975
34%
1%
淨利歸屬於:
本公司業主
非控制權益
2,512
27%
32
-
2,729
31%
(8%)
39
1%
(18%)
$ 2,544
27%
$ 2,768
32%
(8%)
EPS (Basic) $ 5.98 $ 6.50
(8%)
EPS (Diluted) $ 5.94 $ 6.47
(8%)

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2022 年第 2 季之業外收益包含處分凌華科技之投資收益為新台幣 4.1 億元及處分固定資產予凌華之回轉利益為新台幣 9 仟萬元。

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2021 年第 1 季之業外收益包含處分固定資產收益為新台幣 17.3 億元,所得稅費用包含資本利得稅為新台幣 2 億元。

5

2022年第2季合併損益表摘要

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合併損益表
(單位:佰萬新台幣,除每股盈餘為新台幣元)
2022.2Q
%
2022.1Q
%
QoQ %
2021.2Q
%
YoY %
淨營業收入 4,935
100%
4,398
100%
12%
4,445
100%
11%
量測儀器事業部之合併營收(淨額) 4,644
94%
3,474
79%
34%
3,359
76%
38%
威光自動化事業部之合併營收 188
4%
221
5%
(15%)
221
5%
(15%)
日茂特殊材料事業部之合併營收 17
-
618
14%
(97%)
765
17%
(98%)
其他 86
2%
85
2%
-
100
2%
(14%)
營業成本 (2,033)
(41%)
(2,214)
(50%)
(8%)
(2,378)
(53%)
(15%)
營業毛利 2,902
59%
2,184
50%
33%
2,067
47%
40%
營業費用
推銷管理費用
研發費用
(1,093)
(22%)
(443)
(9%)
(946)
(22%)
16%
(1,097)
(25%)
-
(400)
(9%)
11%
(381)
(9%)
16%
營業淨利 1,366
28%
837
19%
63%
589
13%
132%
營業外收入及支出 696
14%
167
4%
317%
99
2%
603%
稅前淨利
所得稅費用
非控制權益
2,062
42%
(376)
(8%)
(25)
-
1,004
23%
105%
688
15%
200%
(146)
(3%)
158%
(179)
(4%)
110%
(6)
-
n/a
(28)
-
(11%)
本期淨利(淨利歸屬於本公司業主) 1,661
34%
852
20%
95%
481
11%
245%
每股盈餘(基本) $ 3.95 $ 2.03
95%
$ 1.14
246%
本期淨利(本業貢獻不含處分投資收益) $ 1,157
23%
$ 852
19%
36%
$ 481
11%
141%
基本每股盈餘(本業貢獻不含處分投資收益) $ 2.75 $ 2.03
35%
$ 1.14
141%

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2022 年第 2 季之業外收益包含處分凌華科技之投資收益為新台幣 4.1 億元及處分固定資產予凌華之回轉利益為新台幣 9 仟萬元。

6

資產負債摘要及財務指標

集團合併 ( 單位:佰萬新台幣 )

2022. 6

2021. 12

+ / - %

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集團合併(單位:佰萬新台幣) 2022.
6
2021. 12
+ / - %
資產負債摘要
現金及流動金融資產 5,888 4,947 19%
存貨 4,756 3,916 21%
短期負債 1,404 2,114 - 34%
長期負債 1,258 1,447 - 13%
股東權益 19,107 18,947 1%
總資產 32,968 29,546 12%
存貨週轉天數 184 139
應收帳款週轉天數 79 98
應付帳款週轉天數 120 114
淨負債資產比(%) Net Cash Net Cash
股東權益報酬率(%) 26% 24%
資產報酬率(%) 16% 15%
現金流量(單位:佰萬新台幣) 2022.
上半年
2021.
上半年
同期比較
未計利息稅項折舊及攤銷 3,421 3,661 (7%)
營業現金流入 1,951 1,405 39%
自由現金流量 2,069 3,220 (36%)

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股東報酬率及資產報酬率皆已年化。

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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7

2022第2季重點摘要

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營業收入 營業毛利 營業利益率

2 季重點摘要

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  • 總營業收入 : $37.2 億新台幣,

季成長 30% ,年增加 52%

  • 營業毛利率 : 51%

  • 營業利益率 : 28%

  • 淨利 : $16.6 億新台幣,

  • 季成長 95% ,年增加 245%

  • 2022 年第 2 季摘要 :

    • ✓ 本季主要營收增長來自於半導體 /

Photonics 檢測設備設備,分別較 上季成長 67% ,較去年同期增長

。 82%

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----- Start of picture text -----

3,720
2,867
2,774
2,666
2,449
2,419
53% 54%
52% 51%
51%
48%
28%
26% 25% 25%
22%
18%
----- End of picture text -----

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2021.1Q 2021.2Q

2021.3Q

2021.4Q 2022.1Q 2022.2Q

8

2022年第2季損益表摘要(母公司)

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損益表摘要 ( 母公司 ) 2022.2Q % 2022.1Q % QoQ 2021.2Q % YoY
----- End of picture text -----


(
母公司
)

(
母公司
)
2022.2Q
%
(單位:佰萬新台幣,除每股盈餘為新台幣元) %
%
淨營業收入 3,720
100%
2,867
100%
30%
2,449
100%
52%
營業成本 (1,810)
(49%)
(1,499)
(52%)
21%
(1,119)
(46%)
62%
營業毛利 1,910
51%
1,368
48%
40%
1,330
54%
44%
營業費用
推銷管理費用
研發費用
(490)
(13%)
(380)
(10%)
(389)
(14%)
26%
(376)
(15%)
30%
(341)
(12%)
11%
(344)
(14%)
10%
營業淨利 1,040
28%
638
22%
63%
610
25%
70%
營業外收入及支出 902
24%
309
11%
192%
(3)
-
n/a
稅前淨利 1,942
52%
947
33%
105%
607
25%
220%
所得稅費用 (281)
(8%)
(95)
(3%)
196%
(126)
(5%)
123%
本期淨利 $ 1,661
45%
$ 852
30%
95%
$ 481
20%
245%
淨營業收入 $ 3.95 $ 2.03
95%
$ 1.14
246%
本期淨利(本業貢獻不含處分投資收益) $ 1,157
31%
$ 852
30%
36%
$ 481
20%
141%
基本每股盈餘(本業貢獻不含處分投資收益) $ 2.75 $ 2.03
35%
$ 1.14
141%

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100% 持有之子公司淨利認列,威光為獲利新台幣 2 仟 6 佰萬。

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2022 年第 2 季之業外收益包含處分凌華科技之投資收益為新台幣 4.1 億元及處分固定資產予凌華之回轉利益為新台幣 9 仟萬元。

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9

2022年上半年累計損益表摘要(母公司)

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損益表摘要 ( 母公司 ) 2022.1H % 2021.1H % YoY
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表摘要
(
母公司
)
表摘要
(
母公司
)
2022.1H
%
(單位:佰萬新台幣,除每股盈餘為新台幣元) %
淨營業收入 6,587
100%
5,115
100%
29%
營業成本 (3,308)
(50%)
(2,385)
(47%)
39%
營業毛利 3,278
50%
2,730
53%
20%
營業費用
推銷管理費用
研發費用
(879)
(13%)
(722)
(11%)
(746)
(14%)
18%
(677)
(13%)
7%
營業淨利 1,678
26%
1,307
26%
28%
營業外收入及支出 1,211
18%
1,930
37%
(37%)
稅前淨利 2,889
44%
3,237
63%
(11%)
所得稅費用 (376)
(6%)
(508)
(10%)
(26%)
本期淨利 $ 2,512
38%
$ 2,729
53%
(8%)
淨營業收入 $ 5.98 $ 6.50
(8%)
本期淨利(本業貢獻不含處分投資收益) $ 2,008
30%
$ 1,199
23%
67%
基本每股盈餘(本業貢獻不含處分投資收益) $ 4.78 $ 2.85
68%

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100% 持有之子公司淨利認列,威光為獲利新台幣 2 仟 6 佰 5 拾萬。

2022 年第 2 季之業外收益包含處分凌華科技之投資收益為新台幣 4.1 億元及處分固定資產予凌華之回轉利益為新台幣 9 仟萬元。 2021 年第 1 季之業外收益包含處分固定資產收益為新台幣 17.3 億元,所得稅費用包含資本利得稅為新台幣 2 億元。

10

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) 2022.
6
2021. 12
+ / - %
資產負債摘要
現金及流動金融資產 932 1,274 - 27%
存貨 3,455 2,989 16%
短期負債 700 1,400 - 50%
長期負債 1,050 1,250 - 16%
股東權益 18,649 18,514 1%
總資產 28,250 25,359 11%
存貨週轉天數 175 199
應收帳款週轉天數 94 89
應付帳款週轉天數 88 95
淨負債資產比(%) 3% 8%
股東權益報酬率(%) 27% 24%
資產報酬率(%) 19% 17%
現金流量(單位:佰萬新台幣) 2022.
上半年
2021.
上半年
同期比較
未計利息稅項折舊及攤銷 3,125 3,407 (8%)
營業現金流入 267 1,100 (76%)
自由現金流量 686 3,136 (78%)

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股東報酬率及資產報酬率皆已年化。

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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11

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營運概況

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12

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2022年第2季及上半年累計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
(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
(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
2022.2Q
%
QoQ
YoY
2022.1H
%
YoY
2021
%
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 1,615
43%
4%
20%
3,173
48%
27%
5,531
54%
半導體/ Photonics 測試解決方案 1,458
39%
67%
82%
2,330
35%
26%
3,589
35%
Turnkey Solutions 278
8%
58%
742%
455
7%
86%
347
3%
其它 369
10%
42%
40%
629
10%
18%
841
8%
母公司營業收入 3,720
100%
30%
52%
6,587
100%
29%
10,308
100%
+量測事業體海外據點及測試設備相關子公司 924
52%
2%
1,531
(4%)
3,247
4,644
94%
34%
38%
8,118
87%
21%
13,555
77%
188
4%
(15%)
(15%)
409
4%
12%
17
-
(97%)
(98%)
635
7%
(56%)
86
2%
-
(14%)
172
2%
(10%)
780
4%
2,804
16%
445
3%
4,935
100%
12%
11%
9,334
100%
7%
17,584
100%

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13

2022 年營運展望

  • 致茂電子集團 2022 年上半年累計合併營收達 93 億新台幣,較去年同期成長 7% 。母公司量 測設備事業體上半年累計營收達 66 億新台幣,較去年同期增加 29% ,全產品線皆較去年 同期成長 20% 以上,電動車及 HPC/ 半導體產業為主要成長動能。

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2022 年下半年營運展望

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  • ✓ 受惠於電動車產業大趨勢,電動車電池化成檢測設備為下半年營業收入主要貢獻。

  • ✓ 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,包含電動車及儲能設 備相關零組件、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。

  • ✓ 半導體及 Photonics 測試設備將受惠於 5G 相關及 high performance chip (HPC) 市場持 續發展帶動營收貢獻。

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14

Semiconductor Advanced Packaging Test Solution

TECHNOLOGY

Versatile Test Platform • Multi-sites: 6~24 Sites (SLT/FT and Combo Module) • IC Device: WLCSP, InFO , CoWoS and Heterogeneous • High-precision Contact: ± 1.75 ° • IC Warpage Detection: >2 mils (0.5mm) • Cooling Capacity: >1,200W

IC Test Handler

1H, ‘22 MARKET Advanced Packaging of Automotive, IOT, AI , Cloud, HPC, Network and Datacenter Chips 3200-24 FT & SLT Hybrid Test System

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2H,’22
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SOLUTION

15

TECHNOLOGY

Test Instruments & ATS

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EV Testing

HPC, High Power Charging

  • HPC (High Power Charging) EVSE testing up to 720kW/4ch • AC Input (Grid Simulator) : 500V/840kVA, eff.= 80% typical

  • DC Output (Battery Simulator) : 1000V/720kW, eff.=88% typical

  • Regenerative energy

BMS Power HIL Testbed

  • Integrate real-time system

  • Cell simulator

  • High current simulator

MARKET

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1H, ‘22
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EV Charging (EVSE)
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BMS for Electric Vehicle and Energy Storage System

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2H,’22
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SOLUTION
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EVSE ATS
8000
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BMS Power HIL Testbed Model 8630

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16

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Test Instruments & ATS

TECHNOLOGY

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High Power Battery Pack Test System
High Power Li-ion Battery Test Application Li-ion Battery Deterioration Analysis
attery Cell Testing • High Power: 1.2MW/1700V/4800A
• Pulse Current : 4800A • High Accuracy : ± 0.01% of F.S.
• High Accuracy Measurement :
• Energy Regen. Efficiency : 75% • High Precision : ± 0.002% of F.S.
Current: ± 0.02% r.d.g. + 0.02% r.n.g.
Voltage: ± (0.05% of r.n.g.)
Battery Pack • High Current Slew Rate:
Testing 100~600kW@1ms; 800kW~1.2MW@10ms
• Battery Simulator function
1H, ‘22 2H, ‘22
MARKET Battery for EV, E-Scooter, Energy Storage System, Power Tools, Quality Inspection Agency, Academic Research
Battery Reliability Test System High Precision CHG & DHG Tester Regenerative Battery Pack Test System
17010H 17208M-5-12C 17040E
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SOLUTION

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17

TECHNOLOGY

Turnkey Solution

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  • Formation System Application

  • • Battery Type: 4680 Cylindrical Cell • Formation:

  • Battery Cell - Regular Power Tester (17108A-5-60)

  • Formation - Cylinder type clamping unit for 1 deck

  • DCIR: High Accuracy Power Tester (17208M-6-60) • OCV/ACIR: DM7276 + BT4560 Measurement System

  • Formation System Application

  • • Battery Type: 4680 Cylindrical Cell • Formation: • Composite Power Tester (17102H-80-30) • Air bag type clamping mechanism for 4 decks

  • • OCV/ACIR: DM7276 + BT4560 measurement system • Calibration Kit

1H, ‘22

MARKET

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SOLUTION

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Battery Cell (China, Japan, S. Korea)

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Cylindrical Battery Cell Formation System 17000-K0xx

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2H, ‘22

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Cylindrical Battery Cell Series CDC Formation System 17080-K0xx

18

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Thank You!

Get more information in the APP

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19 19

C o p y r i g h t © 2 0 2 2 C h r o m a A T E I n c . A l l r i g h t s r e s e r v e d .

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