EMC — Investor Presentation 2022

Jun 20, 2022

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台光電子材料股份有限公司 全球環保暨高階基材的領航者

法人說明會簡報 111年5月

免責聲明

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
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
TOTAL: $12,896M
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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Halogen Free
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
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 ( HDI & )

• 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)

Overall CCL Market

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High-end 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成⻑強勁 – 3年內全球市佔從0跳升到13% Driven by Halogen Free and HDI requirement

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

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5G ⼿機出貨量穩健成⻑

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

Unit: Million

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⻑

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

Unit: Thousand

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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⻑性

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.

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

EMC monthly laminate capacity will increase by 30% and reach 4.6mn sheets/mon in 2Q,2023

EMC (KS) Kunshan CCL: 1.35kk sheets PP: 3.3kk meters Manpower: 1,000+ +750K SHT/M in 2Q,2023 EMC (HS) Huangshi EMC (TW) CCL: 600k sheets Taoyuan PP: 2.4kk meters CCL: 500k sheets Manpower: 500+ PP: 1.8kk meters +300K SHT/ Month Manpower: 600+ by June, 2022 +300K SHT/M in 2024 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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營收穩定成⻑

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營收：新台幣億元
400.0
2003 ： 23.76 億元 2021 ： 385.0 億元
350.0
(2003 ~ 2021)18 年 GAGR=17.0%
300.0
250.0
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 2021
營收
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經營績效穩定成⻑

每股現金股息暨股息配發率

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元
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損益表摘要

單位:新台幣百萬元

單位:新台幣百萬元
	1Q22	4Q21	QoQ	1Q21	YoY
營業收入	9,918	10,162	-2.4%	8,004	23.9%
營業毛利	2,478	2,758	-10.2%	1,887	31.3%
營業利益	1,651	1,843	-10.4%	1,233	33.9%
繼續營業部門稅前淨利	1,669	1,825	-8.5%	1,224	36.3%
所得稅費用	(343)	(333)	3.0%	(259)	32.2%
稅後淨利	1,326	1,492	-11.1%	965	37.5%
基本每股盈餘(新台幣元)	3.98	4.47	-11.0%	2.89	37.7%
營業毛利率(%)	25.0%	27.1%		23.6%
營業利益率(%)	16.6%	18.1%		15.4%
稅後淨利率(%)	13.4%	14.7%		12.1%

營業毛利率(%) 營業利益率(%) 稅後淨利率(%)

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資產負債表摘要

	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	1Q22 金額 百分比 8,368 20.9% 13,318 33.3% 5,476 13.7% 10,232 25.5% 40,047 100.0%	4Q21 1Q21 金額 百分比 金額 百分比 6,642 18.2% 6,567 21.5% 13,274 36.3% 10,495 34.3% 5,465 14.9% 4,386 14.3% 8,469 23.2% 6,729 22.0% 36,565 100.0% 30,609 100.0% 2,917 8.0% 1,696 5.5% 8,128 22.2% 7,018 22.9% 721 2.0% 300 1.0% 19,774 54.1% 17,633 57.6% 36,565 100.0% 30,609 100.0%
	短期借款 應付帳款 長期借款	4,397 11.0% 7,891 19.7% 774 1.9%
	業主權益	21,652 54.1%
	負債及權益	40,047 100.0%

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Q & A

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