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CHUNG HUNG — Interim / Quarterly Report 2020
Aug 12, 2020
51945_rns_2020-08-12_a31e949b-e757-46f1-8e8b-35d120f0b38c.pdf
Interim / Quarterly Report
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中鴻鋼鐵股份有限公司 CHUNG HUNG STEEL CORPORATIION
2020.08.14
股票代碼 : Stock Code :
2014
中鴻堅持正派經營，努力打造成為一個持續發展、值得信賴、樂於交往的鋼鐵公司
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免責聲明 Cautionary Statement
本簡報與同時發布之相關訊息，係依公司目前狀況及現有資訊而 做成，因此本公司特別聲明報告內容，僅為資訊流通之目的而公 佈，並非投資建議。對於這些看法在未來若有任何改變或調整時 ，本公司不負責隨時提醒或更新。
The information contained in this presentation and its accompanying announcements is based on present condition and information available at the time the statements were made. The is run for presentation exclusively the of information and not for the of investment purpose providing purpose advice. The Company is not responsible for reminding or updating changes or made to the contents of this if such or adjustments presentation, changes adjustments should occur in the future.
中鴻堅持正派經營，努力打造成為一個持續發展、值得信賴、樂於交往的鋼鐵公司
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| 目 | 錄 Table of Contents |
|
|---|---|---|
| • 公司簡介 | Company Overview | 1 |
| • 銷售分析 | Sales Analysis | 9 |
| • 財務概況 | Financial Review | 14 |
| • 策 略 |
Strategy | 16 |
| • 未來展望 | Prospects | 17 |
| 中鴻堅持正派經營，努力打造成為一個持續發展、值得信賴、樂於交往的鋼鐵公司 |
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公司簡介 Company Overview
中鴻鋼鐵股份有限公司（原名燁隆企業股份有限公司， 2004 年 7 月 14 日正式更 名，以下簡稱中鴻）成立於 1983 年 9 月，基於國內鋼鐵上下游整合，中鴻於 1999 年底與中鋼公司策略聯盟， 2000 年正式成為中鋼集團一員。
Chung Hung Steel Corporation (originally named Yieh Loong Enterprise Co., Ltd., was renamed on July 14th, 2004, known as “CHSC” for short) was established in September 1983. For observing the integration of upstream and downstream steel companies in Taiwan, CHSC formed a strategic alliance with CSC at the end of 1999, and officially became a member of the CSC Group in 2000.
中鴻堅持正派經營，努力打造成為一個持續發展、值得信賴、樂於交往的鋼鐵公司
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公司簡介 Company Overview
中鴻主要產品有熱軋鋼捲、酸洗塗油鋼捲、酸洗退火球化鋼捲、冷軋全硬鋼捲 、冷軋調質鋼捲、鍍鋅鋼捲、碳鋼鋼管 (CNS/JIS/ASTM) 、鍍鋅鋼管、 PE 包覆 鋼管、 API 輸油管、 API 油井套 ( 導 ) 管。產品銷售以供應國內為優先，產品廣泛 運用在五金、建材、汽車、家電、運動器材、鋼製傢俱等眾多產業。
CHSC's main carbon products include hot-rolled steel coils, pickled & spheroidized annealed steel coils, cold-rolled full hard steel coils, cold-rolled tempered steel coils, galvanized steel coils, carbon steel pipes ( CNS/ JIS/ ASTM), galvanized steel pipes, PE-coated steel pipes, API oil pipelines and API pipes for casing and tubing. The products are widely used to manufacture hardware, building materials, cars, household electric appliances, sport equipment, steel furniture and so on. They are primarily prioritized for domestic sales.
中鴻堅持正派經營，努力打造成為一個持續發展、值得信賴、樂於交往的鋼鐵公司
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公司簡介 Company Overview
中鴻有五個生產廠區，其中熱軋廠（年產能 240 萬公噸）、冷軋廠（年產能 45 萬 公噸）、鋼管廠大發廠區（年產能 4.8 萬公噸）及酸鍍廠（酸洗線年產能 60 萬公 噸、鍍鋅線年產能 30 萬公噸）四個廠區皆位於高雄市；另 2012 年於彰化縣彰濱 工業區（鹿港區）新建一座年產能 20 萬公噸鋼管廠，主要生產石油相關用管， 銷售於國際石油氣鋼管市場。
CHSC has had five factories so far, four of which are located in Kaohsiung City, Taiwan. They are the hot-rolled coil factory with the annual capacity of 2.4 million metric tons, the cold-rolled coil factory with the annual capacity of 450,000 metric tons, the steel pipe factory with the annual capacity of 48,000 metric tons, the pickling and galvanizing factory with the annual capacity of 600,000 metric tons from the pickling line and 300,000 metric tons from the galvanizing line and the new ERW steel pipe factory, established in 2012, located in the Chang Hua Coastal Industrial Park in Lukang, Chang Hua County, Taiwan. With the annual capacity of 200,000 metric tons, the factory primarily manufactures pipes used in the oil industry for the international oil and gas tubular market.
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中鴻堅持正派經營，努力打造成為一個持續發展、值得信賴、樂於交往的鋼鐵公司
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公司簡介 Company Overview
以市場需求為導向，發揮靈活彈性特長，持續提升產品附加價值及開發利基產 品，追求穩健獲利，一向是中鴻的經營策略及目標，為追求永續發展、強化內 部管理及客戶服務，本公司積極取得外部相關驗證，各廠已通過品質、環保、 、 、 、 、 能源及職安衛之 ISO 9001 ISO 14001 ISO 50001 OHSAS 18001 TOSHMS 等 各項管理系統驗證，另為消除國家貿易障礙，各產品已取得 JIS MARK 認證，熱 軋產品已通過印尼 SNI 、馬來西亞 SIRIM 、泰國 TIS 及新加坡 FPC 認證，酸洗產品 通過 IATF 16949 汽車用鋼認證。
With a market-oriented, demand-conscious, and flexible view, CHSC always aims to optimize the added values of its products, develop niche products, and stably make profits. To pursue its sustainable development and to enhance its internal management as well as customer services, CHSC has aggressively obtained external certification, such as ISO 9001, ISO 14001, ISO 50001, OHSAS 18001, and TOSHMS. To eliminate the obstacles in international trade, it has also obtained the JIS MARK certificate for each product and the SNI (Indonesia), SIRIM (Malaysia), TIS (Thailand), FPC (Singapore) certificates for hot-rolled products, and IATF 16949 certificate for pickling products.
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中鴻堅持正派經營，努力打造成為一個持續發展、值得信賴、樂於交往的鋼鐵公司
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產製流程
熱軋鋼捲 Hot Rolled Coil
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加熱爐 粗軋機 水幕式冷卻系統
精軋機
Reheating Furnace Roughing Mill Curtain Cooling
扁鋼胚 盤捲箱 Finish Mill System
Coil Box 盤捲機
Slab
Down Coiler
包裝
Packing
熱軋鋼捲 熱軋粗鋼捲
Hot Roll Coil 調質機 Hot Roll Band
Skin Pass Mill
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冷軋鋼捲 Cold Rolled Coil
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產製流程
鋼管 Steel Pipe & Tube
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解捲 積料 成形 高週波銲接 內外銲道整平 線上超音波檢測 中週波回火
Uncoil Looping Forming H.F.Welding Weld Scarfing Online Ultrasonic M.F. Annealing
(Inside & Outside) Testing
空 / 水冷卻 精整 切斷 修面 水壓檢測 通徑試驗
Air & Water Rotary Cutting End Facing Hydrostatic Drift
Cooling Sizing Testing Testing
線上超音波檢測 終端檢驗 塗裝 噴誌 包裝
Offline Ultrasonic Final Coating Stenciling Packing
Testing Inspection
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產製流程
酸洗 Pickling
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熱軋鋼捲 銹皮破碎及張力整平機 酸洗 水洗 烘乾 靜電塗油機 熱軋酸洗塗油鋼捲 包裝
Hot Rolled Coil Tension Leveler(Scale Breaker) Pickling Rinsing Air Dryer Oiling Pickled And Oiled Hot Packing
Rolled Coil
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鍍鋅 Galvanizing
熱軋鋼捲 鹼洗段及清洗槽 還原式加熱爐 鍍鋅槽 微細鋅花設備 Hot Rolled Coil Alkaline Cleaning Non-oxidizing Furnace Zinc Pot Mini Spangle And Rinsing
鍍鋅後冷卻區 水淬槽 烘乾機 化學皮膜處理 鍍鋅鋼捲 包裝 After Cooler Water Air Dryer Chromate Rinse Hot Dipped Packing Quenching Galvanized Tank Coil
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Production and Sales Statistics 產銷量值表
單位：新台幣千元、公噸 Unit ： NTD Thousands、MT
| 期間 period | 2020.1~6 | 2020.1~6 | 2019.1~12 | 2019.1~12 |
|---|---|---|---|---|
| 產品Products | 產量 Output |
產值 Value |
產量 Output |
產值 Value |
| 熱軋鋼捲 Hot Rolled coil | 1,002,286 | 13,377,563 | 2,091,091 | 31,874,580 |
| 冷軋鋼捲 Cold Rolled coil | 134,876 | 2,362,383 | 262,834 | 5,272,745 |
| 鋼管 Steel Pipe | 37,821 | 780,709 | 136,756 | 3,016,435 |
| 鍍鋅鋼捲 Galvanized Steel Coil | 13,207 | 242,320 | 14,009 | 285,985 |
| 合計 Total | 1,188,190 | 16,762,975 | 2,504,690 | 40,449,746 |
| 期間 period | 2020.1~6 | 2020.1~6 | 2020.1~6 | 2020.1~6 | 2019.1~12 | 2019.1~12 | 2019.1~12 | 2019.1~12 |
|---|---|---|---|---|---|---|---|---|
| 內/外銷 Domestic / Export 產品Products 熱軋鋼捲 Hot Rolled Coil 冷軋鋼捲 Cold Rolled Coil 鋼管 Steel Pipe 鍍鋅鋼捲Galvanized Steel Coil 合計 Total |
內銷 Domestic | 外銷Export | 內銷 Domestic | 外銷Export | ||||
| 量 Quantity |
值 Value |
量 Quantity |
值 Value |
量 Quantity |
值 Value |
量 Quantity |
值 Value |
|
| 454,164 | 6,413,326 | 502,274 | 6,939,688 | 748,795 | 12,152,605 | 1,013,280 | 16,272,199 | |
| 115,781 | 1,983,504 | 19,346 | 340,229 | 222,391 | 4,178,197 | 64,332 | 1,277,102 | |
| 5,393 | 105,893 | 39,123 | 759,814 | 10,126 | 271,653 | 128,859 | 3,464,883 | |
| 55,996 | 978,884 | 10,294 | 199,866 | 105,273 | 2,061,136 | 11,300 | 252,752 | |
| 631,335 | 9,481,607 | 571,036 | 8,239,597 | 1,086,585 | 18,663,591 | 1,217,771 | 21,266,936 |
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產業概況 Industry Overview
受到新型冠狀病毒 (Covid-19) 疫情的影響，世界鋼鐵協會 (WSA) 於 2020 年 06 月發佈的鋼鐵需求預測指出， 2020 年全球鋼鐵需求量將萎縮 6.4% ，下降至 16.54 億噸；但 2021 年全球鋼鐵需求量則將恢復至 17.17 億噸，較 2020 年上升 3.8% 。目前中國的恢復速度領先世界其他國家，這將對 2020 年全球鋼鐵需 求量的下降起到緩解作用。而未來若病毒擴散得到控制，不出現第二、第三 個流行高峰，並且各國政府的刺激措施繼續實施，則 2021 年鋼鐵需求將會看 到較快的復甦。
今年鋼市雖受到 (Covid-19) 疫情影響，但日、韓等國鋼廠相繼減產整併，加 上中國大陸加速推展新基建，帶動其國內鋼鐵需求，預計全球供給過剩之情 況有望得到持續控制。而中鴻主力產品以熱軋底材為核心，占總產銷量 7 成 以上，並可做為直接原料供應公司下製程生產產品後銷售，相較於下游鋼鐵 加工業者，更具有主導及競爭優勢。此外，中鴻近年持續嚴管各項產銷效益 ，並逐步強化原料採購及產品差異化，及對內 / 外銷售比重調配更靈活敏銳 ，加上臨近之東南亞地區用鋼需求持續成長，整體營運強軔度將持續提升。
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產業概況 Industry Overview
Due to the impact of COVID-19 pandemic, global steel demand of 2020 is expecting to shrink by 6.4% to 1.654 billion tons; but global steel demand will recover to 1.717 billion tons in 2021, grow by 3.8% compare to 2020, according The World Steel Association’s prediction announced in June, 2020.
China recovers faster than other counties in the world, which may relieve the decline of global steel demand in 2020. If the spread of coronavirus could be well-controlled in the future, plus continuous stimulus measures in each country, then we will see a faster recovery in steel demand in 2021.
Although steel market has been affected by COVID-19 epidemic this year, we expect global oversupplying situation will be eased soon through the merging plan and production- decreasing projects designed by Japanese and Korean mills, and China accelerates the constructions of new infrastructures to motivate domestic steel demand.
Main product of Chung Hung Steel (CHS) is hot rolled base materials, which is about 70% of the total production and sales, also could be used as raw materials for its own production line. By comparison with downstream steel manufactures, CHS has more dominant and competitive advantage. In addition, CHS has been controlling strictly the efficiency of business operations in recent years, also strengthen on raw materials procurement and product differentiation, as well as much flexible and sensitive on adjusting the ratio of domestic and exporting sales. Meanwhile, the steel demand of nearby Southeast Asia region is growing continuously, Chung Hung Steel will keep improving operating resilience.
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財務概況
Financial Review
| 單位：千元 Unit : NTD Thousands |
單位：千元 Unit : NTD Thousands |
單位：千元 Unit : NTD Thousands |
|---|---|---|
| 期間Peroid 項目Item |
2020/1~6 | 2019/1~12 |
| 營業收入淨額 Net Sales |
17,949,305 |
40,470,129 |
| 營業成本 OperatingCosts |
17,760,990 | 39,225,201 |
| 營業毛利 Gross Profit(Loss) |
188,315 | 1,244,928 |
| 營業費用 OperatingExpenses |
654,249 | 1,462,517 |
| 營業淨利(損) Profit(Loss)from Operations |
-465,934 | -217,589 |
| 營業外收(支) Non-operatingincome(Expenses) |
-22,969 | 228,474 |
| 稅前淨利(損) Profit(Loss)Before Income Tax |
-488,903 | 10,885 |
| 稅後淨利(損) Net Profit For The Period |
-488,903 | 10,791 |
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股利政策 Dividend Policy
本公司年度決算如有盈餘，於完納稅捐，彌補累積虧損後，依法提列法定盈餘公積，但法定盈餘 公積已達本公司實收資本額時，得不再提列，其餘再依法令規定提列或迴轉特別盈餘公積；如尚 有餘額，併計上年度未分配之盈餘作為可供分配盈餘，由股東會決議分派股利或保留之。
每年就可供分配盈餘提撥不低於 30% 分配股東股息紅利，惟累積可供分配盈餘低於實收股本 3% 時 ，得不予分配。
本公司產業發展成熟，故前項股東紅利之分派，將採現金股利及股票股利適度比例發放，其中現 金股利額度不低於百分之五十。
In the event of surplus earnings after closing of annual accounts, due taxes shall be paid, and losses incurred in previous years shall be compensated. Upon completion of the preceding actions, the remainder surplus shall be allocated as statutory reserve in accordance with the law. However, in the event that the accumulated statutory reserve is equivalent to or exceeds the Company's total paid-in capital, such allocation may be exempted. The remainder may be set aside or reversed as special surplus reserve in accordance with laws and regulations. The remaining profit, if any, shall be included in the earnings available for distribution along with previous years’ undistributed earnings, and the shareholder's meeting shall determine whether to distribute dividends or retain the earnings.
The Company shall allocate no less than 30% of the distributable earnings for shareholder dividends and bonuses each year. However, the distribution may be canceled if the accumulated earnings available for distribution are less than 3% of the paid-up capital.
The development of the Company's industry has matured. Therefore, the distribution of the shareholder dividends specified above shall be distributed with appropriate ratios of cash dividends and stock dividends. Cash dividends shall be no lower than 50%.
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策 略 Strategy
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中鴻堅持正派經營，努力打造成為一個持續發展、值得信賴、樂於交往的鋼鐵公司。
Chung Hung maintains ethical business operations and strives to become a sustainable, reliable, and approachable steel company.
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業務目標 生產目標 財務目標
Commercial Production Financial
1.持續開發重點產品
1.掌握客戶需求
Sustain development of key products
Aim for customers demands
2.提升產品品質及製程技術
2.保持靈活彈性銷售策略 1.內部管理確實
Improve product quality and technology
Maintain the flexible sales strategy 3.朝向產品差異化 Complete Internal Management
3.確保通路穩定 Toward product differentiation 2.降低營運成本
Ensure stable sales channels 4.精進利基產品
Implement operating cost reduction
Enhance niche products
4.提升市場競爭力
5.創造市場優勢
Increase the market competitiveness
Create market advantage
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未來展望 Prospects
中鴻未來將持續提升產品品級及品質，加強客戶服務，建立 良好客戶夥伴關係，創造產品差異化，並積極推動節能減廢， 善盡企業社會責任。
In the future, CHSC will upgrade the quality and grades of products, focus on enhancing customer services, establish good partner relationships with customers, create product differentiation, proactively conserve energy and reduce carbon emissions, and fulfill its corporate social responsibility.
中鴻堅持正派經營，努力打造成為一個持續發展、值得信賴、樂於交往的鋼鐵公司
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感 謝 聆 聽 !
Thanks for your attention.
中鴻堅持正派經營，努力打造成為一個持續發展、值得信賴、樂於交往的鋼鐵公司