COREMAX — Interim / Quarterly Report 2018

May 21, 2018

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Stock Code: 4739

Coremax Group

Coremax Corporation 2018 Q1 Investor Conference

： Presented by Dennis Weng Date ： 2018.5.23

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Safe Harbor Notice

The presentation and discussion contain certain forward-looking statements with respect to the results of operation, financial condition and current expectation. The forward-looking statements are subject to known and unknown uncertainties and risks that could cause actual results to differ materially from those expressed or implied by such statements. Such risks and uncertainties include but are not limited to the impact of competitive products and pricing, ability to ramp new products into volume, industry wide shifts in supply and demand for products, industry overcapacity, availability of manufacturing capacity, financial stability in end markets, and other risks. This document is not and cannot be construed as an offer to purchase or sell securities or other financial products or solicitation of an offer.

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May 2018

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Agenda

 Company Profile

• Group Structure

 2018 Q1 Financial Results （ Certified by Accountant ）  Consolidated Statements of Comprehensive Income  Sales Breakdown by Products  Consolidated Gross Margin  Consolidated Operating Expenses  Consolidated Operating Income

 Consolidated Net Income  Consolidated EPS  Important Event

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Company Profile

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Zhangzhou, China - 2011 Ningbo, China – 2004
 Founded in 1992 Plant Size : 21,361m [2] Plant Size : 10,036m [2]
 Capital:NTD8.66 Billion
 Number of Employees
390 Persons Jiangxi, China– 2000
 Head Office Plant Size : 17,034m [2] Europe Asia
North Hsinchu, Taiwan (HQ) – 1992
11 Wenhua Rd., America Plant Size : 14,190m [2]
Hsinchu Industrial Park
 Main Products
Zhuhai, China – 2001 Africa
Catalyst
Plant Size : 13,334m [2]
South
Australia
Power Battery Materials America
Chemical Fertilizer
Specialty Chemicals
Rayong, Thailand – 2009 Taichung, Taiwan – 1984 Toufen, Taiwan – 1961
Plant Size : 5,288m [2] Plant Size : 7,938m [2] Plant Size : 71,263m [2]
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Group Structure

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Coremax
Corporation
June 1992
100% 80.18% 83.6%
Heng I Chemical Uranus Chemicals
Coremax (BVI)
Co., Ltd. Co., Ltd.
November 2001
May 1961 July 1975
100% 100% 100% 70.06%
100%
Coremax
Coremax Zhuhai Coremax Ningbo Coremax (Thailand) Jiangxi Tianjian
(Zhangzhou)
Chemicals Co., Ltd. Chemicals Co., Ltd. Co., Ltd. Chemicals Co., Ltd. Materials Co., Ltd.
December 2001 September 2004 March 2009 January 2001
October 2011
11.15% 6.85%
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May 2018

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Consolidated Statements of Comprehensive Income

Unit：NTD Thousand Item 2018Q1 2017Q4 2017Q1 QoQ YoY Sales Revenue 1,610,775 1,324,111 1,265,051 22% 27% Gross Margin 14% 16% 14% -0.02 -0.01 Operating Expenses 53,453 52,783 57,792 1% -8% Operating Margin 11% 12% 10% -0.02 0.003 Non-operating incomes and expenses 17,675 (13,663) (8,674) 229% 304% Net Income 153,838 123,647 102,037 24% 51% Net Margin 10% 9% 7% 0.002 0.01 EPS 1.7 1.48 1.28 15% 33%	Unit：NTD Thousand Item 2018Q1 2017Q4 2017Q1 QoQ YoY Sales Revenue 1,610,775 1,324,111 1,265,051 22% 27% Gross Margin 14% 16% 14% -0.02 -0.01 Operating Expenses 53,453 52,783 57,792 1% -8% Operating Margin 11% 12% 10% -0.02 0.003 Non-operating incomes and expenses 17,675 (13,663) (8,674) 229% 304% Net Income 153,838 123,647 102,037 24% 51% Net Margin 10% 9% 7% 0.002 0.01 EPS 1.7 1.48 1.28 15% 33%	Unit：NTD Thousand Item 2018Q1 2017Q4 2017Q1 QoQ YoY Sales Revenue 1,610,775 1,324,111 1,265,051 22% 27% Gross Margin 14% 16% 14% -0.02 -0.01 Operating Expenses 53,453 52,783 57,792 1% -8% Operating Margin 11% 12% 10% -0.02 0.003 Non-operating incomes and expenses 17,675 (13,663) (8,674) 229% 304% Net Income 153,838 123,647 102,037 24% 51% Net Margin 10% 9% 7% 0.002 0.01 EPS 1.7 1.48 1.28 15% 33%	Unit：NTD Thousand Item 2018Q1 2017Q4 2017Q1 QoQ YoY Sales Revenue 1,610,775 1,324,111 1,265,051 22% 27% Gross Margin 14% 16% 14% -0.02 -0.01 Operating Expenses 53,453 52,783 57,792 1% -8% Operating Margin 11% 12% 10% -0.02 0.003 Non-operating incomes and expenses 17,675 (13,663) (8,674) 229% 304% Net Income 153,838 123,647 102,037 24% 51% Net Margin 10% 9% 7% 0.002 0.01 EPS 1.7 1.48 1.28 15% 33%	Unit：NTD Thousand Item 2018Q1 2017Q4 2017Q1 QoQ YoY Sales Revenue 1,610,775 1,324,111 1,265,051 22% 27% Gross Margin 14% 16% 14% -0.02 -0.01 Operating Expenses 53,453 52,783 57,792 1% -8% Operating Margin 11% 12% 10% -0.02 0.003 Non-operating incomes and expenses 17,675 (13,663) (8,674) 229% 304% Net Income 153,838 123,647 102,037 24% 51% Net Margin 10% 9% 7% 0.002 0.01 EPS 1.7 1.48 1.28 15% 33%	Unit：NTD Thousand Item 2018Q1 2017Q4 2017Q1 QoQ YoY Sales Revenue 1,610,775 1,324,111 1,265,051 22% 27% Gross Margin 14% 16% 14% -0.02 -0.01 Operating Expenses 53,453 52,783 57,792 1% -8% Operating Margin 11% 12% 10% -0.02 0.003 Non-operating incomes and expenses 17,675 (13,663) (8,674) 229% 304% Net Income 153,838 123,647 102,037 24% 51% Net Margin 10% 9% 7% 0.002 0.01 EPS 1.7 1.48 1.28 15% 33%
Item	2018Q1	2017Q4	2017Q1	QoQ	YoY
Sales Revenue	1,610,775	1,324,111	1,265,051	22%	27%
Gross Margin	14%	16%	14%	-0.02	-0.01
Operating Expenses	53,453	52,783	57,792	1%	-8%
Operating Margin	11%	12%	10%	-0.02	0.003
Non-operating incomes and expenses	17,675	(13,663)	(8,674)	229%	304%
Net Income	153,838	123,647	102,037	24%	51%
Net Margin	10%	9%	7%	0.002	0.01
EPS	1.7	1.48	1.28	15%	33%

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2017Q3 Sales Breakdown by Products

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Others
9%
Specialty
Catalyst
Chemicals
22%
10%
Catalyst
Chemical
Fertilizer Power Battery
15%
Chemical Fertilizer
Power Battery Specialty
44% Chemicals
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Unit：NTD Thousand

Specialty Total Power Chemical Catalyst Chemical Others Sales Battery Fertilizer s Revenue 354,325 713,860 236,071 161,682 144,837 1,610,775

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Quarterly Sales Breakdown by Products

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Catalyst
YoY : 112.63% QoQ : 27.16%
25%
20% 22%
21%
15%
10% 13%
5%
0%
2017Q1 2017Q4 2018Q1
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Power Battery
YoY : 74.64% QoQ : 27.73%
50%
40% 44%
42%
30%
32%
20%
10%
0%
2017Q1 2017Q4 2018Q1
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Chemical Fertilizer

Specialty Chemicals

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YoY : 9.30% QoQ : 69.59%
20%
15% 17%
15%
10%
11%
5%
0%
2017Q1 2017Q4 2018Q1
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YoY : -6.62% QoQ : -4.37%
20%
15%
14%
13%
10%
10%
5%
0%
2017Q1 2017Q4 2018Q1
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Consolidated Gross Margin

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18%
16%
16%
14% 14%
14%
12%
10%
8%
2017Q1 2017Q4 2018Q1
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Consolidated Operating Expenses

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Unit ： NTD Million
YoY : -8% ； QoQ : 1%
70
60
50
19
18
22
40
3 Selling Expenses
1
30 R&D Expenses
5
Administrative Expenses
20
35 34 Operating Expenses
26
10
0
2017Q1 2017Q4 2018Q1
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Consolidated Operating Income

Unit ： NTD Million

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YoY : 31% ； QoQ : 4%
180 14%
12%
160 11%
12%
10%
140
10%
120
8%
100
170
80 163 6%
130
60
4%
40
2%
20
0%
0
2017Q1 2017Q4 2018Q1
Operating Income Operating Margin
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Consolidated Net Income

Unit ： NTD Million

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YoY : 51% ； QoQ : 24% 12%
180
10%
160
9% 10%
140
7% 8%
120
100
6%
80
154
60 124 4%
102
40
2%
20
0 0%
2017Q1 2017Q4 2018Q1
Net Income Net Margin
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Consolidated EPS

Unit ： NTD

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2
1.70
1.48
1.28
1
0
2017Q1 2017Q4 2018Q4
EPS 1.28 1.48 1.70
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Important Event

• At 10/31, # 47392, convertible bond Ⅱ , roughly NT $21 million has not been converted, the expected conversion shares of about 395,000 shares.

After the $21 million converted, the capital will be NT $870 million.

• The company's current production rate for the power battery material is about 70%.

• The investment percentage to UCC will be decreases from 83.6% to 62.7% after UCC capital increase.

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May 20187

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CoreMax Your Best Choice! Best Partner!

Thank you for your attention!

November 2017

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