EMC — Investor Presentation 2021

Nov 3, 2021

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台光電子材料股份有限公司 全球環保基材的領航者

法人說明會簡報 110年11月

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免責聲明

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本簡報之內容可能包括本公司基於從各項來源所取得的資訊， 對於營運、財務狀況與企業發展情形的前瞻性預估。 因為包括但不限於市場需求、價格波動、競爭態勢、供應鏈變 動、全球經濟局勢、匯率波動及其他本公司無控制力之風險等 各種因素，實際的營運、財務狀況與企業發展情形，可能會與 本公司於預測中明示或默示敘述有差異。 本簡報之內容若有對未來之前瞻性預估，僅反映本公司於發佈 當時之看法。本公司並無義務於日後情況變更時，更新前瞻預 估。

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2020年無鹵材料全球市佔第一

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Global Green Laminate Market

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Kingboard, 13%
Ventec
2%
Nanya New Mtl.
2%
Kingboard EMC
Zhejiang Huazheng, 2%
5% 26%
SYTECH,
Rogers, 2% 12% Pan
Isola, 2%
asonic 1
Nanya New 6%
Material, 2%
MGC, 3% Doosa
n
Goldenmax 6%
(GDM), 4%
SYTECH
Nan Ya 7%
Showa Denko, 4% ITEQ
Plastics, 14%
11%
Doosan, 4% 5 Nan Ya Plastics
13%
5 TUC
TUC, 4% Panasonic, 7%
14%
ITEQ, 7%
EMC,7%
TOTAL LAMINATE: $3,094M
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TOTAL: $12,896M

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May 2021

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5G 基礎建設發展的趨勢: 無鹵, 高密速連結, 高速, 高頻

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HF HDI High Speed AAU AiP MIMO[RRU] Phone-5G High Frequency BBU mmWave Phone-4G ADAS Phone-3G 77GHz AI Server Switch-800G 26.56 GHz Server- PCIe5 Infotainment NB- USB4.0 Switch-400G 16GHz 14GHz E-Mobility

NB- USB3.0

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Switch-100G ECU Server- PCIe4 12.89GHz 8GHz Server- PCIe3 Switch-40G 4GHz 5GHz

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高階 高速 & 高頻 CCL ( )

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• High-end CCL market grows at 15% CAGR (2021-2025)

• • Overall CCL market grows at 6% CAGR (2021-2025)

• • Commodity CCL market grows at 3% CAGR (2021-2025)

High-end CCL Market

Overall CCL Market

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2021-2025 High-end CCL growth driving force
• EagleStream Platform launch 1H2215% CAGR
• the 400G/800G switching market will start to pick up in 2021
• 5G base station deployment
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Source: Company data, Goldman Sachs Global Investment Research

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高速 CCL – 日本/臺灣合計市佔達 75%

High speed CCL 2017 market share

High speed CCL 2020 market share

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75% (JP/TW)
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Source: Company data, Goldman Sachs Global Investment Research, Prismark

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台光電子高速 CCL成長強勁 – 3年內全球市佔從0跳升到13%

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Source: Company data, Goldman Sachs Global Investment Research, Prismark

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5G 手機出貨量穩健成長

EMC takes the majority share in the 5G smart phone application dominating in HDI from standard layer, any layer, through SLP CCL

Unit: Million

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Source：IDC, HSBC estimates, 2021/7

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未來三年，全球伺服器出貨量預期將有強勁的成長

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EMC expects to gain significant share in current and next generation platform

Unit: Thounsand

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16,000 18.0%
15,067
16.0%
15.7%
14,000 13,394
14.0%
12,280
11,847 11,608 11,778
12,000
12.0%
10,000 12.5% 10.0%
9.1%
8.0%
8,000
6.0%
6,000 4.3% 4.0%
2.0%
4,000 1.5%
0.0%
2,000
-2.0% -2.0%
0 -4.0%
2018 2019 2020 2021E 2022E 2023E
HSBCe Server shipment Y/Y %
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Source：IDC, HSBC estimates, 2021/7

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400G 交換器在未來幾年交換器市場中具備最高的成長性

EMC will take the majority share

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120%
100%
27%
32%
80% 39%
49%
60%
70%
60% 81%
27% 36%
18%
9%
40% 1%
0%
20% 0% 39% 42% 43% 41% 37%
30%
19%
0%
2017 2018 2019 2020 2021E 2022E 2023E
100G 400G Others
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Source: IDC, HSBC estimates, 2021/7

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在美國具有CCL的生產據點

EMC is the only CCL manufacturer, among all Taiwanese & Chinese makers, having production capacity in the USA meeting President Biden’s “Made in USA” initiative requirement.

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9433 Hyssop Dr, Rancho Cucamonga, CA 91730, United States

Arlon, a CA-based company at Rancho Cucamonga, makes specialty laminates and prepregs for PCBs used in the aerospace, defense and semiconductor industries, also known as Arlon EMD.

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生產基地及月產能

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EMC monthly laminate capacity will increase by 17% and reach 4.15mn sheets/mon in 3Q,2022

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EMC (HS)
Huangshi
CCL: 600k sheets
PP: 2.4kk meters
Manpower: 500+
+300K SHT/ Month
by June, 2022
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EMC (KS) Kunshan CCL: 1.35kk sheets PP: 3.3kk meters Manpower: 1,000+ +300K SHT/M in Q3,2022 EMC (TW) Taoyuan CCL: 500k sheets PP: 1.8kk meters Manpower: 600+

EMC (TW) Hsinchu CCL: 150k sheets PP: 1.1kk meters Mass Lam: 800k ft2 Metal Core: 40k pnls Manpower: 300+

EMC (ZS) Zhongshan CCL: 950k sheets PP: 2.1kk meters Manpower: 800+

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- 公司簡介 全球生產基地及主要據點

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Japan
UK Kunshan, China
MN MN Germany
MN Huangshi, China
OH
Korea
SJ & SA, CA
Zhongshan, China
RC, CA France
CA
Taiwan,
HQ
Production facility
Distributor
Representative office
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企業社會責任報告書

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營收成長趨勢

營收：新台幣億元

300.0 2003 ： 23.76 億元 → 2020 ： 272.0 億元 250.0 (2003 ~ 2020)17 年 GAGR=15.5% 200.0 150.0 100.0 50.0 0.0 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

營收

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經營績效趨勢

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每股現金股息暨股息配發率

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損益表摘要

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單位:新台幣百萬元

營業收入 營業毛利 營業利益

繼續營業部門稅前淨利 所得稅費用 稅後淨利

基本每股盈餘(新台幣元)

營業毛利率(%) 營業利益率(%) 稅後淨利率(%)

3Q21	2Q21	QoQ	3Q20	YoY
10,776	9,558	12.7%	7,474	44.2%
3,078	2,346	31.2%	2,058	49.6%
2,250	1,596	40.9%	1,423	58.0%
2,264	1,598	41.7%	1,437	57.6%
(471)	(347)	35.8%	(314)	13.8%
1,793	1,251	43.2%	1,123	59.7%
5.38	3.75	43.5%	3.40	58.2%
28.6%	24.5%		27.5%
20.9%	16.7%		19.0%
16.6%	13.1%		15.0%

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資產負債表摘要

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單位:新台幣百萬元

單位:新台幣百萬元 現金及約當現金 應收帳款+應收票據 存貨 不動產、廠房及設備 資產總計 短期借款 應付帳款 長期借款 業主權益 負債及權益	3Q21 金額 百分比 5,568 15.9% 13,631 38.9% 5,336 15.2% 7,883 22.5% 35,059 100.0% 2,827 8.1% 8,828 25.2% 964 2.8% 18,178 51.8% 35,059 100.0%	2Q21 3Q20 金額 百分比 金額 百分比 6,696 20.0% 5,328 20.2% 11,970 35.7% 9,571 36.2% 4,837 14.4% 3,914 14.8% 7,437 22.2% 6,016 22.8% 33,516 100.0% 26,406 100.0% 1,674 5.0% 1,209 4.6% 8,262 24.7% 6,114 23.2% 300 0.9% 545 2.1% 16,436 49.0% 15,533 58.8% 33,516 100.0% 26,406 100.0%

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Q & A

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