EMC — Investor Presentation 2025

Aug 26, 2025

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台光電子材料股份有限公司
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全球環保暨高階基材的領航者 法人說明會簡報

114年8月

Innovation Globalization Diversification

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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會議議程

01 第二季營運成果

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04
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02 領先同業持續擴大

07

03 台光電成⻑優勢

• 技術

• 規模/ 生產據點分散

04 問答時段

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第二季綜合損益表

綜合損益表項目 (除另予註明者外，金額為新台幣百萬元)

		2Q25	1Q25	2Q24	季變化	年變化
營業收入		22,508	21,680	15,449	3.8%	45.7%
營業毛利		6,829	6,590	4,235	3.6%	61.3%
營業利益		4,644	4,540	2,924	2.3%	58.8%
繼續營業部門稅前淨利		4,467	4,667	2,975	-4.3%	50.1%
所得稅費用		(989)	(1,200)	(542)	-17.6%	82.6%
稅後淨利		3,478	3,467	2,434	0.3%	42.9%
基本每股盈餘(新台幣元)		10.02	10.01	7.08	0.1%	41.5%
	營業毛利率(%)	30.3%	30.4%	27.4%	-0.1 ppts	+2.9 ppts
	營業利益率(%)	20.6%	20.9%	18.9%	-0.3 ppts	+1.7 ppts
	稅後淨利率(%)	15.5%	16.0%	15.8%	-0.5 ppts	-0.3 ppts
股東權益報酬率		38.2%	41.7%	34.0%

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第二季資產負債表及重要財務指標

資產負債表項目 (新台幣百萬元)

資產負債表項目 新台幣萬
(百元)
	2Q25		1Q25		2Q24
	Amount %		Amount	%	Amount	%
現金及約當現金	17,620 20.1%		18,427	21.1%	13,514	20.7%
應收帳款+應收票據	30,564 34.9%		30,239	34.6%	20,724	31.8%
存貨	10,936 12.5%		10,558	12.1%	7,771	11.9%
不動產、廠房及設備	24,137 27.6%		23,842	27.3%	18,399	28.2%
資產總計	87,611 100.0%		87,415	100.0%	65,184	100.0%
短期借款	8,957 10.2%		9,040	10.3%	10,969	16.8%
應付帳款	17,014 19.4%		18,053	20.7%	12,970	19.9%
⻑期借款	9,114 10.4%		11,385	13.0%	1,634	2.5%
業主權益	36,391 41.5%		33,272	38.1%	28,644	43.9%
負債及權益	87,611 100.0%		87,415	100.0%	65,184	100.0%
重要財務指標 平均收現日數	117		118		125
平均銷貨日數	60		60		64
流動比率(倍)	1.5		1.5		1.3

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- 第二季銷售分析 產品組合

基礎設施的強勁增⻑反映⾼端材料市佔率提升

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第二季營收成⻑： 4% QoQ 第二季營收成⻑： 46% YoY
季變化 年變化
+70%
+18%
+8%
+11%
+4%
Infrastructure Mobile Device A & I & Others
-7%
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領先同業持續擴大

⾼階市場市佔擴大領先

• Global No. 1 – mSAP, HDI Laminate provider

• Global No. 1 – High-Speed Green Laminate provider

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Laminate Market Green Laminate Market HDI Laminate Market
1
1
3
• By Revenue
• Mass Lam Sales is excluded.
July 2025
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領先同業持續擴大

2023 年⾼速材料全球排名第⼀，且市佔率持續成⻑中

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2023
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2024
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(Standard + Halogen-Free) High-Speed Laminate

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(Halogen-Free) High-Speed Laminate Only
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July 2025
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領先同業持續擴大

⾼階CCL ( HDI & ⾼速⾼頻)

• ⾼階銅箔基板市場 年複合成⻑率 40% (2024-2027)

• 銅箔基板市場 年複合成⻑率 18% (2024-2027)

• 台光電成⻑率將高於高階銅箔基板市場

Overall CCL Market

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High-Speed CCL Market

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Source: Goldman Sachs Global Investment Research, July 2025

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台光電成⻑優勢

AI 基礎設施設計趨勢

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台光電成⻑優勢

HDI 技術領先

The only mSAP and substrate maker outside Japan/Korea with 100% proprietary technology

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台光電成⻑優勢

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規模及全球佈局
Kunshan, China
California, US
Guanyin, Taiwan
Huangshi, China
600K shts/mon
Q4 2026 300K shts/mon
Q4 2026
EMC: the only Asian CCL Supplier
with US Sales & Production Presence
300K shts/mon
Site Capacity Laminate (SHTs/mon) Q2 2025
Penang, Malaysia
HQ (TW) 0.60 M Zhongshan,
Kunshan (CN) 1.95 M Zhongshan, China China
Zhongshan (CN) 0.90 M
Huangshi (CN) 0.90 M
Total (2024) 4.35 M
600K shts/mon
600K shts/mon Q3 2025
Huangshi (CN) 0.30 M
Q4 2025
Penang (MY) 0.60 M 150K shts/mon
Zhongshan (CN) 0.60 M 600K shts/mon Q4 2026
Q4 2026
Total (2025) 5.85M
EMC: Dominant CCL Capacity in Southeast Asia.
Guanyin (TW) 0.30 M (Competitors provide less capacities or incomplete
Kunshan (CN) 0.60 M production capabilities)
Zhongshan (CN) 0.60 M
Penang (MY) 0.15 M
Total (2026) 7.50 M
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永續報告 公司治理評鑑提升至前6 - 20% 以2023年為基準年，2030年達成減碳30%

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Q & A

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