FocalTech — Interim / Quarterly Report 2020

Aug 11, 2020

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敦泰電子(3545)法人說明會

FocalTech Investor Conference

2020/8/11

The world leader in human machine interface solutions

免責聲明DISCLAIMER

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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。

• This presentation may contain “forward-looking statements” which may include projections on future results of operations, financial condition, and business prospects based on our own information and other sources.

• 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。

• The actual results of operations, financial condition, and business prospects may differ from those explicitly or implicitly indicated in those forward-looking statements for a variety of reasons, including but not limited to market demand, price fluctuations, competition, supply chain issues, global economic conditions, exchange rate fluctuation and other risks and factors beyond FocalTech’s controls.

• 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。

• The forward-looking statements in this presentation, if any, only reflect the current view of FocalTech as of the date of its release. FocalTech undertakes no obligation to update those forward-looking statements for events or circumstances that occur subsequently.

CONFIDENTIAL

© 2018 FocalTech Systems Co., Ltd. All rights reserved

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2020 Q2 Results Summary /109年第2季總結 (1)

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 因新冠肺炎疫情關係，部份供應鏈受到影響，終端市場也一度相對保守，第2季期 中營收經過一短暫的下降後即迅速反轉，最終僅較第1季小減5%，相較於去年同期， 由於晶圓代工產能問題充分解決，業績整體表現仍顯著提升近三成。

 Affected by the COVID-19, the supply chain was partially disrupted in Q2. The market was also turned conservative for a short period of time. The business in Q2 showed a V-shaped quick recovery. FocalTech’s overall revenue decreased less than 5% QoQ. However, compared with the same period last year, the revenue showed a strong increase of nearly 30% YoY.

CONFIDENTIAL © 2018 FocalTech Systems Co., Ltd. All rights reserved

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2020 Q2 Results Summary /109年第2季總結 (2)

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• 今年上半年平板電腦內嵌式面板的需求攀升明顯，帶動平板電腦IDC需求，由於敦泰領 現布局，因此在平板IDC市佔率及業績上在第2季持續有良好表現，同時讓整體IDC產品 組吅趨於正面。

 In the first half of the year, the demand in tablet has increased significantly. The in-cell penetration rate in tablets also increased fast. Being the market leader in tablet IDC (TDDI), FocalTech enjoyed the strong growth as well as good market position. Amid the high volume of cellphones, the tablets enriched the IDC product portfolio and improved the balance in terms of IDC product mix.

CONFIDENTIAL © 2018 FocalTech Systems Co., Ltd. All rights reserved

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2020 Q2 Results Summary /109年第2季總結 (3)

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 在產品價格走勢趨於穩定，加上IDC產品組吅轉佳的正面幫助下，敦泰第2季毛利 率為22.16%，較上個季度提升0.17個百分點，稅後純益為1.01億元，季增七成， 每股純益為0.38元，創近3年新高。

 With the stable ASP trend and the improvement in product mix, FocalTech’s gross margin in Q2 reached 22.16%, a 0.17% increase from the previous quarter. Net profit after tax was NT$101 million, a quarterly 70% increase, which resulted in EPS of NT$ 0.38. This is the highest in three years.

CONFIDENTIAL © 2018 FocalTech Systems Co., Ltd. All rights reserved

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Q2 20’Income Statement /109年第2季損益表

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Unit in NT$ Million /單位: 新台幣佰萬元

	20' Q2	20' Q1	QoQ	19' Q2	YoY
Revenue/ 營業收入	2,768	2,910	-4.9%	2,139	29.4%
Gross Profit/ 營業毛利	613	640	-4.2%	490	25%
Gross Margin/ 營業毛利率	22.16%	21.99%	↑17bps	22.92%	↓76bps
OperatingExpense/ 營業費用	506	569	-11.1%	638	-20.7%
OperatingIncome/ 營業淨利	107	71	52.0%	(147)
Non Operating Income/ 營業外收入	29	32	-11.2%	32	-12.3%
Profit before Tax/ 稅前淨利	136	103	32.2%	(115)
Profit after Tax/ 稅後淨利	101	59	70.2%	(135)
EPS(Basic)/ 每股盈餘(基本)	0.38	0.24		(0.47)

CONFIDENTIAL

© 2018 FocalTech Systems Co., Ltd. All rights reserved

6

Q2 20’Balance Sheet / 109年第2季資產負債表

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Unit in NT$ Million /單位: 新台幣佰萬元

	20' Q2	20' Q1	QoQ	19' Q2	YoY
Cash & Market Securities/ 現金及流動金融資產	4,290	5,070	-15.4%	4,502	-4.7%
Accounts Receivable/ 應收帳款	1,418	1,527	-7.1%	890	59.3%
Inventory/ 存貨	2,748	2,347	17.1%	1,982	38.6%
Other Current Assets/ 其他流動資產	209	262	-20.1%	145	44.4%
Non Current Asset/ 非流動資產	2,846	2,890	-1.5%	2,988	-4.7%
Total Assets/ 資產總計	11,511	12,096	-4.8%	10,507	9.6%
Current Liabilities/ 流動負債	3,277	3,616	-9.4%	2,512	30.5%
Non Current Liabilities/非流動負債	324	442	-26.8%	196	64.9%
Owner's Equity/ 股東權益	7,910	8,038	-1.6%	7,799	1.4%
Total Liabilities and Owners' Equity/ 負債與權益	11,511	12,096	-4.8%	10,507	9.5%
Net Worthper share/ 每股淨值	26.46	26.87		26.99
AR Days(Annual Basis)	48	46		33
CONFIDENTIAL ~~©2018 FocalTech Sstems Co Ltd All rihts reserved~~ InventoryDays(Annual Basis)	106	78		120

• ~~© 2018 FocalTech Systems Co., Ltd. All rights reserved~~

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Future Outlook /未來展望 (1)

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• [] 由於居家辦公及遠距教學普遍化的趨勢持續發酵，因此推升對平板電腦、 Notebook 等 產品需求的增加，而敦泰在此一領域因擁有較高的市佔率優勢，營運受惠。

• As the trend for WFH (Work From Home) and remote education drives the demand for tablets and Notebooks, FocalTech benefits from this new change and enjoys the superior market position.

• 由於COVID-19疫情強化手機等產品成為剛性需求，加上迎向產業傳統旺季的正面幫助， 預期敦泰下半年業績有望持續走高。

• The COVID-19 pandemic induced people to rely more on electronic devices and turn the need for cellphone into a necessity. Coupled with the momentums of the traditional high season for smartphones, business in second half of 2020 is expected to be stronger than the first half.

CONFIDENTIAL

© 2018 FocalTech Systems Co., Ltd. All rights reserved

8

Future Outlook /未來展望 (2)

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• 由於晶圓代工供應自Q2後期轉緊，因此IDC(TDDI)產品市場平均售價亦趨堅挺，預期部 份IDC供丌應求的情況會持續至年底。

• The foundry supply tightens again starting Q2. This has helped strengthen the ASP. It is expected that the supply situation will remain tight on some of the products at least until end of the year.

• 雖然在晶圓代工方面供應吃緊，但由於敦泰超前部署，因此得以供應客戶無虞，並在IDC 市場上市占率逐季攀升。

• Although the wafer supply is tight, yet due to early deployment on the wafer suppliers, FocalTech is not expected to experience major shortage issues this year.

CONFIDENTIAL

© 2018 FocalTech Systems Co., Ltd. All rights reserved

9

Future Outlook /未來展望 (3)

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• 敦泰今年除了IDC在智慧型手機、平板電腦應用的出貨量取得良好成績外，在車 用領域亦可望領先對手，率先開始進入量產出貨狀態。

• Besides the growing shipments for smartphones and tablets, FocalTech is expected to lead the IDC competition in terms of mass production in automotive market.

• AMOLED觸控IC方面，敦泰在逐步擴大被品牌客戶與面板廠所採用，預期隨5G手 機及柔性面板的興起，敦泰的觸控方案期望在市場上擴大市佔率。

• In terms of AMOLED touch IC, FocalTech is gaining more brand customers and panel manufacturers. The market share will grow with the rise of 5G mobile phones and foldable display panels.

CONFIDENTIAL

© 2018 FocalTech Systems Co., Ltd. All rights reserved

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THANKS
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Copyright © 2018 FocalTech Systems Co., Ltd. All Rights Reserved. The information in this document may contain predictive statements including, without limitation, statements regarding the future financial and operating results, future product portfolio, new technology, etc. There are a number of factors that could cause actual results and developments to differ materially from those contained in the predictive statements. Therefore, such information is provided for reference purpose only and constitutes neither an offer nor an acceptance. FocalTech makes no warranties, express, implied or otherwise, regarding the accuracy or completeness of those information. FocalTech may change the information at any time without keeping recipients updated of any information contained in this document.

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