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CSSSC Interim / Quarterly Report 2018

Dec 27, 2018

51952_rns_2018-12-27_d1911685-b8e0-49ab-88ed-0960016081de.pdf

Interim / Quarterly Report

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2018 Investor Conference

December 27, 2018

Stock Code : 2025.TW

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Disclaimer Notice

This briefing is based on information the Company obtains from various sources. Some information may be affected by future uncertainties resulting in the discrepancies in the original plan and the future prospects. The change will be released in Market Observation Post System (MOPS).

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Content

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Company Profile
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Operating HighlightsOperating Highlights
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Financial Performance
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Future Prospect
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Q & A
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Company Profile

Founded : MAY, 1972

Capital : NT $ 2,812 millionChairman : Mr. Ye Shuo TongEmployee : 108 people: Stock Listing Day February,1996Main business : Stainless steel cold rolled products manufacturing, trading, and import and export business

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Company History

1972 ： Founded on May 8

  • 1989 ： For cash replenishment and public offering.

  • 1990 ： With the construction of capital increase, paid-up capital of 1.1 billion yuan.

  • 1991 ： Cold rolling mill began to test production, capital increased to 1.65 billion yuan.

  • certification,set up a subsidiary of Chien Yin investment (shares) company.

  • 2000 ： The second annealing pickling line began to test, paid-up capital of 3.228 billion yuan. 2001 ： The second cold rolling mill began to test.

  • 2009 ： Typhoon Morakot wind damage part of the equipment damage,has been completed within one year.

  • 2012 ： The company completed the development of the first electric locomotive, the Ministry of Transportation approved by the ordinary light of the machine foot pedal type safety test certification, legal listing on the road.

  • 2017 ： The company and three hundred percent subsidiaries on the board of directors on November

  • 27Resolution and corporate mergers and acquisitions law for easy merger, and in January

  • 2018 On the 4th, the Ministry of Economic Affairs approved the merger and change

  • registration, and the paid-up capital amount reachedNT$ 2.812 billion.

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Production Technology & Process

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Raw Material: Stainless steel 300 series hot rolled coil, Width 1300mm, thickness 2.0 ~ 6.0mm

Maximum capacity 12,000 Ton / month

Cold Rolled Products: Width: 1300mm Thickness; 0.3 to 3.5 mm (cold rolled 2B steel plate)

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Operating Highlights
4,000
3,648
3,646 2017 years
Consolidated revenue deline of
3,000
0.05%
Net profit after tax of 155.18 million
yuan
2,000
Consolidated revenue
1,000 Net Profit
155
92 UNIT : NT$ 1 million
0
2016 2017
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Operating Highlights–Sales Profile UNIT : NT$ 1 million

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31% 32%
12% 16%
7%
1%
-29% 2017
-47%
-54%
-67%
-76%
2018
387 392 392
345
359
333 336
329
312
293 290
277 268
253
237 238 238 222 238
207
122 131
71
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Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

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Operating Highlights–Sales Ratio 2018 Q3 ratio of domestic and export sales

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Export
sales 0%
Domestic
sales 100%
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Financial Performance–Consolidated Balance Sheets

UNIT : NT$ 1000

Financial Performance–Consolidated Balance Sheets
September
30,
2018 Amount
%
December 31,
2017 Amount
%
December 31,
2016 Amount
%
Current assets
1,057,506 47
960,340 44
913,837 41
Non-current
assets
1,170,507 53
1,237,985 56
1,331,322 59
Total assets
2,228,013 100
2,198,325 100
2,245,159 100
Current
liabilities
1,201,169 54
808,499 37
1,005,940 45
Non-current
liabilities
17,512
1
17,515
1
17,761
1
Total equity
1,009,332 45
1,372,311 62
1,221,458 54
Total liabilities
and equity
2,228,013 100
2,198,325 100
2,245,159 100
UNIT : NT$ 1000		 Financial Performance–Consolidated Balance Sheets
September
30,
2018 Amount
%
December 31,
2017 Amount
%
December 31,
2016 Amount
%
Current assets
1,057,506 47
960,340 44
913,837 41
Non-current
assets
1,170,507 53
1,237,985 56
1,331,322 59
Total assets
2,228,013 100
2,198,325 100
2,245,159 100
Current
liabilities
1,201,169 54
808,499 37
1,005,940 45
Non-current
liabilities
17,512
1
17,515
1
17,761
1
Total equity
1,009,332 45
1,372,311 62
1,221,458 54
Total liabilities
and equity
2,228,013 100
2,198,325 100
2,245,159 100
UNIT : NT$ 1000		 Financial Performance–Consolidated Balance Sheets
September
30,
2018 Amount
%
December 31,
2017 Amount
%
December 31,
2016 Amount
%
Current assets
1,057,506 47
960,340 44
913,837 41
Non-current
assets
1,170,507 53
1,237,985 56
1,331,322 59
Total assets
2,228,013 100
2,198,325 100
2,245,159 100
Current
liabilities
1,201,169 54
808,499 37
1,005,940 45
Non-current
liabilities
17,512
1
17,515
1
17,761
1
Total equity
1,009,332 45
1,372,311 62
1,221,458 54
Total liabilities
and equity
2,228,013 100
2,198,325 100
2,245,159 100
UNIT : NT$ 1000		 Financial Performance–Consolidated Balance Sheets
September
30,
2018 Amount
%
December 31,
2017 Amount
%
December 31,
2016 Amount
%
Current assets
1,057,506 47
960,340 44
913,837 41
Non-current
assets
1,170,507 53
1,237,985 56
1,331,322 59
Total assets
2,228,013 100
2,198,325 100
2,245,159 100
Current
liabilities
1,201,169 54
808,499 37
1,005,940 45
Non-current
liabilities
17,512
1
17,515
1
17,761
1
Total equity
1,009,332 45
1,372,311 62
1,221,458 54
Total liabilities
and equity
2,228,013 100
2,198,325 100
2,245,159 100
UNIT : NT$ 1000		 Financial Performance–Consolidated Balance Sheets
September
30,
2018 Amount
%
December 31,
2017 Amount
%
December 31,
2016 Amount
%
Current assets
1,057,506 47
960,340 44
913,837 41
Non-current
assets
1,170,507 53
1,237,985 56
1,331,322 59
Total assets
2,228,013 100
2,198,325 100
2,245,159 100
Current
liabilities
1,201,169 54
808,499 37
1,005,940 45
Non-current
liabilities
17,512
1
17,515
1
17,761
1
Total equity
1,009,332 45
1,372,311 62
1,221,458 54
Total liabilities
and equity
2,228,013 100
2,198,325 100
2,245,159 100
UNIT : NT$ 1000		 Financial Performance–Consolidated Balance Sheets
September
30,
2018 Amount
%
December 31,
2017 Amount
%
December 31,
2016 Amount
%
Current assets
1,057,506 47
960,340 44
913,837 41
Non-current
assets
1,170,507 53
1,237,985 56
1,331,322 59
Total assets
2,228,013 100
2,198,325 100
2,245,159 100
Current
liabilities
1,201,169 54
808,499 37
1,005,940 45
Non-current
liabilities
17,512
1
17,515
1
17,761
1
Total equity
1,009,332 45
1,372,311 62
1,221,458 54
Total liabilities
and equity
2,228,013 100
2,198,325 100
2,245,159 100
UNIT : NT$ 1000		 Financial Performance–Consolidated Balance Sheets
September
30,
2018 Amount
%
December 31,
2017 Amount
%
December 31,
2016 Amount
%
Current assets
1,057,506 47
960,340 44
913,837 41
Non-current
assets
1,170,507 53
1,237,985 56
1,331,322 59
Total assets
2,228,013 100
2,198,325 100
2,245,159 100
Current
liabilities
1,201,169 54
808,499 37
1,005,940 45
Non-current
liabilities
17,512
1
17,515
1
17,761
1
Total equity
1,009,332 45
1,372,311 62
1,221,458 54
Total liabilities
and equity
2,228,013 100
2,198,325 100
2,245,159 100
UNIT : NT$ 1000		 Financial Performance–Consolidated Balance Sheets
September
30,
2018 Amount
%
December 31,
2017 Amount
%
December 31,
2016 Amount
%
Current assets
1,057,506 47
960,340 44
913,837 41
Non-current
assets
1,170,507 53
1,237,985 56
1,331,322 59
Total assets
2,228,013 100
2,198,325 100
2,245,159 100
Current
liabilities
1,201,169 54
808,499 37
1,005,940 45
Non-current
liabilities
17,512
1
17,515
1
17,761
1
Total equity
1,009,332 45
1,372,311 62
1,221,458 54
Total liabilities
and equity
2,228,013 100
2,198,325 100
2,245,159 100
UNIT : NT$ 1000
September
30,
2018 Amount		 % December 31,
2017 Amount		 % December 31,
2016 Amount		 %
Current assets 1,057,506 47 960,340 44 913,837 41
Non-current
assets		 1,170,507 53 1,237,985 56 1,331,322 59
Total assets 2,228,013 100 2,198,325 100 2,245,159 100
Current
liabilities		 1,201,169 54 808,499 37 1,005,940 45
Non-current
liabilities		 17,512
1		 17,515
1		 17,761
1
Total equity 1,009,332 45 1,372,311 62 1,221,458 54
Total liabilities
and equity		 2,228,013 100 2,198,325 100 2,245,159 100

10

Financial Performance–
Consolidated Statements of Comprehensive Income
UNIT : NT$ 1000		 Financial Performance–
Consolidated Statements of Comprehensive Income
UNIT : NT$ 1000		 Financial Performance–
Consolidated Statements of Comprehensive Income
UNIT : NT$ 1000		 Financial Performance–
Consolidated Statements of Comprehensive Income
UNIT : NT$ 1000		 Financial Performance–
Consolidated Statements of Comprehensive Income
UNIT : NT$ 1000		 Financial Performance–
Consolidated Statements of Comprehensive Income
UNIT : NT$ 1000		 Financial Performance–
Consolidated Statements of Comprehensive Income
UNIT : NT$ 1000
nine months
ended
September
30,2018
Amount		 % Year ended
December 31,
2017
Amount		 % Year ended
December 31,
2016
Amount		 %
Operating revenue 2,421,992
100		 3,645,877 100 3,648,157 100
Operating costs (2,392,839) (99) (3,448,090) (95) (3,538,115) (97)
Net operating
margin(loss)		 29,153
1		 197,787
5		 110,042
3
Operating
expenses		 (36,632)
(1)		 (49,891) (1) (55,239) (1)
Non-operating
income and
expenses		 (318,547) (14) 9,195
-		 38,992
1
Profit(loss) for
the period		 (330,953) (14) 155,178
4		 91,860
3
Earnings per
share(in dollars)		 (1.18) 0.55 0.33 ~~11~~

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Financial Performance– Consolidated Statements of cash flows

UNIT : NT$ 1000

Financial Performance–
Consolidated Statements of cash flows
UNIT : NT$ 1000
For the nine-
month period
ended September
30,2018
Amount
For the year
ended December
31,2017
Amount
For the year
ended
December
31,2016
Amount
Net cash flows from (used in)
operating activities
(127,184)
649,204
399,334
Profit before tax
(327,277)
155,405
92,110
Depreciation
88,467
111,946
111,363
Net cash flows from (used in )
operating activities
(43,336)
(15,195)
12,076
Cash paid for acquisition of
property, plant and equipment
(44,676)
(23,006)
(5,615)
Net cash flows from (used
in)financial activities
589,124
(728,911)
(405,171)
Cash and cash equivalents at
end of period
456,675
38,071
132,973		 Financial Performance–
Consolidated Statements of cash flows
UNIT : NT$ 1000
For the nine-
month period
ended September
30,2018
Amount
For the year
ended December
31,2017
Amount
For the year
ended
December
31,2016
Amount
Net cash flows from (used in)
operating activities
(127,184)
649,204
399,334
Profit before tax
(327,277)
155,405
92,110
Depreciation
88,467
111,946
111,363
Net cash flows from (used in )
operating activities
(43,336)
(15,195)
12,076
Cash paid for acquisition of
property, plant and equipment
(44,676)
(23,006)
(5,615)
Net cash flows from (used
in)financial activities
589,124
(728,911)
(405,171)
Cash and cash equivalents at
end of period
456,675
38,071
132,973		 Financial Performance–
Consolidated Statements of cash flows
UNIT : NT$ 1000
For the nine-
month period
ended September
30,2018
Amount
For the year
ended December
31,2017
Amount
For the year
ended
December
31,2016
Amount
Net cash flows from (used in)
operating activities
(127,184)
649,204
399,334
Profit before tax
(327,277)
155,405
92,110
Depreciation
88,467
111,946
111,363
Net cash flows from (used in )
operating activities
(43,336)
(15,195)
12,076
Cash paid for acquisition of
property, plant and equipment
(44,676)
(23,006)
(5,615)
Net cash flows from (used
in)financial activities
589,124
(728,911)
(405,171)
Cash and cash equivalents at
end of period
456,675
38,071
132,973		 Financial Performance–
Consolidated Statements of cash flows
UNIT : NT$ 1000
For the nine-
month period
ended September
30,2018
Amount
For the year
ended December
31,2017
Amount
For the year
ended
December
31,2016
Amount
Net cash flows from (used in)
operating activities
(127,184)
649,204
399,334
Profit before tax
(327,277)
155,405
92,110
Depreciation
88,467
111,946
111,363
Net cash flows from (used in )
operating activities
(43,336)
(15,195)
12,076
Cash paid for acquisition of
property, plant and equipment
(44,676)
(23,006)
(5,615)
Net cash flows from (used
in)financial activities
589,124
(728,911)
(405,171)
Cash and cash equivalents at
end of period
456,675
38,071
132,973		 Financial Performance–
Consolidated Statements of cash flows
UNIT : NT$ 1000
For the nine-
month period
ended September
30,2018
Amount
For the year
ended December
31,2017
Amount
For the year
ended
December
31,2016
Amount
Net cash flows from (used in)
operating activities
(127,184)
649,204
399,334
Profit before tax
(327,277)
155,405
92,110
Depreciation
88,467
111,946
111,363
Net cash flows from (used in )
operating activities
(43,336)
(15,195)
12,076
Cash paid for acquisition of
property, plant and equipment
(44,676)
(23,006)
(5,615)
Net cash flows from (used
in)financial activities
589,124
(728,911)
(405,171)
Cash and cash equivalents at
end of period
456,675
38,071
132,973
For the nine-
month period
ended September
30,2018
Amount		 For the year
ended December
31,2017
Amount		 For the year
ended
December
31,2016
Amount
Net cash flows from (used in)
operating activities		 (127,184)
649,204
399,334
Profit before tax (327,277)
155,405
92,110
Depreciation 88,467
111,946
111,363
Net cash flows from (used in )
operating activities		 (43,336)
(15,195)
12,076
Cash paid for acquisition of
property, plant and equipment		 (44,676)
(23,006)
(5,615)
Net cash flows from (used
in)financial activities		 589,124
(728,911)
(405,171)
Cash and cash equivalents at
end of period		 456,675
38,071
132,973

12

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  • Financial report –

  • reservations opinion

  • 1. The company has been suspected of burying the business waste, etc. And allegedly violating the waste disposal law, andthen deriving the waste disposal and disposal cost mentioned above can be assessed for fines.

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2. As of the date of the Tainan District Inspection
   Office is still dealing with the   process of
   investigation. It is unable to obtain the waste disposal
   verification result of expert appraisal or the competent
   authority.

13

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Financial report –
reservations opinion
3. According to the Taiwan Tainan District Procuratorate in
   the Republic of China in 107 years, the press release issued
   in July, with its preliminary calculation estimated weight and
   type of buried business waste calculate the processing fee as
   a settlement  the best estimate of the expenditure required
   for the obligation.

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4. The company was in the year of the Republic Era from January 1
   to September 30,the aforementioned waste disposal treatment as
   estimated by the financial report, the fee  is NT$350 million.
5. This estimate is required to settle this obligation  best
   estimate of expenditure and possible fines  not sure yet, the
   company's visa accounting can not adopt the necessary review
   procedures.

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Future Prospect

1. In the steel part, with the fluctuations in raw material
   prices and China steel production capacity
   control policy, it will support the international steel
   prices rising slowly and stainless steel business
   prospects can be expected to be better than last year.

2. Recently Global market has been changing quickly,
   especially China stainless  steel market
   changes the most. CSSSC’s  operation must be well
   prepared to adapt the changes by working out the
   forecast plan with strategy to make the business grow
   stably.

15

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Chien Shing Stainless Steel Co., Ltd.

Q & A

Thank ！ you

16

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