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GEMTEK Investor Presentation 2020

Nov 16, 2020

52434_rns_2020-11-16_ff5422bb-f1de-4483-83e9-a4c546a46a55.pdf

Investor Presentation

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正文科技2020法說會

November 17, 2020 Gemtek Confidential Distribution Prohibited

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安全港條款
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• The following presentation may contain forward-looking statements regarding, among other things, our financial condition, future expansion plans and business strategies based on our current expectations and projections about future events. Although we believe that these expectations and projections are reasonable, such forward-looking statements are inherently subject to risks, uncertainties and assumptions.

• The company undertakes no obligation to publicly update or revise any forward-looking statements whether as a result of new information, future events or otherwise. The actual results could differ materially from those contained in these forward-looking statements.

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議程
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  • 董事長致詞

  • 2020回顧以及未來展望

  • 重點訊息

陳鴻文董事長 陳鴻文董事長 楊正任執行董事

  • Q&A

  • 新產品產示及點心時間

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中美對峙之影響

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中美貿易戰
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科技戰
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金融戰

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產能規劃

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產能佔比
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Taiwan Vietnam China 新竹廠 越南廠 中國廠（昆山、常熟） 產能 ≈14% ≈32% ≈ 55% (以產量區分) 產能 ≈ 5% ≈ 40% ≈ 50% (以營收區分) 生產產品 Pilot Run Wi-Fi Product, LTE, Wi-Fi Product, LTE, Gateway, GPON, Gateway, GPON, Module, Sip Module Module, Sip Module

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機會與挑戰

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挑戰
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Tariff

Worsen Condition of China Manufacturing

COVID 19

Currency Risk

Material Shortage

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機會
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Transfer Order Effect

Clean Network

Declining Competitiveness of China

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財務數字

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2020營收增加
Gemtek Revenues
80
70
60
50
40
2019
67.5
30 2020
54.9 56.5
43.8 45.4
20
26.3
10
0
Q1 Q2 Q3
Quarter
億
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Q3損益表(IFRS) 3Q 2020
3Q 2019
YOY
1Q-3Q 2020
1Q-3Q 2019
YOY
6,752,034
4,547,164
+48%
15,040,706
14,429,289
+4%
11.91%
10.57%
+13%
11.50%
9.42%
+22%
495,840
418,526
+18%
1,352,428
1,285,751
+5%
308,120
62,214
+395%
377,274
73,631
+412%
1,038,776
60,220
+1625%
1,075,967
302,098
+256%
1,239,707
92,279
+1243%
1,295,913
286,903
+352%
18.36%
2.03%
+804%
8.62%
1.99%
+333%
3.48
0.25
+1292%
3.54
0.8
+343%		 3Q 2020
3Q 2019
YOY
1Q-3Q 2020
1Q-3Q 2019
YOY
6,752,034
4,547,164
+48%
15,040,706
14,429,289
+4%
11.91%
10.57%
+13%
11.50%
9.42%
+22%
495,840
418,526
+18%
1,352,428
1,285,751
+5%
308,120
62,214
+395%
377,274
73,631
+412%
1,038,776
60,220
+1625%
1,075,967
302,098
+256%
1,239,707
92,279
+1243%
1,295,913
286,903
+352%
18.36%
2.03%
+804%
8.62%
1.99%
+333%
3.48
0.25
+1292%
3.54
0.8
+343%		 3Q 2020
3Q 2019
YOY
1Q-3Q 2020
1Q-3Q 2019
YOY
6,752,034
4,547,164
+48%
15,040,706
14,429,289
+4%
11.91%
10.57%
+13%
11.50%
9.42%
+22%
495,840
418,526
+18%
1,352,428
1,285,751
+5%
308,120
62,214
+395%
377,274
73,631
+412%
1,038,776
60,220
+1625%
1,075,967
302,098
+256%
1,239,707
92,279
+1243%
1,295,913
286,903
+352%
18.36%
2.03%
+804%
8.62%
1.99%
+333%
3.48
0.25
+1292%
3.54
0.8
+343%		 3Q 2020
3Q 2019
YOY
1Q-3Q 2020
1Q-3Q 2019
YOY
6,752,034
4,547,164
+48%
15,040,706
14,429,289
+4%
11.91%
10.57%
+13%
11.50%
9.42%
+22%
495,840
418,526
+18%
1,352,428
1,285,751
+5%
308,120
62,214
+395%
377,274
73,631
+412%
1,038,776
60,220
+1625%
1,075,967
302,098
+256%
1,239,707
92,279
+1243%
1,295,913
286,903
+352%
18.36%
2.03%
+804%
8.62%
1.99%
+333%
3.48
0.25
+1292%
3.54
0.8
+343%		 3Q 2020
3Q 2019
YOY
1Q-3Q 2020
1Q-3Q 2019
YOY
6,752,034
4,547,164
+48%
15,040,706
14,429,289
+4%
11.91%
10.57%
+13%
11.50%
9.42%
+22%
495,840
418,526
+18%
1,352,428
1,285,751
+5%
308,120
62,214
+395%
377,274
73,631
+412%
1,038,776
60,220
+1625%
1,075,967
302,098
+256%
1,239,707
92,279
+1243%
1,295,913
286,903
+352%
18.36%
2.03%
+804%
8.62%
1.99%
+333%
3.48
0.25
+1292%
3.54
0.8
+343%		 3Q 2020
3Q 2019
YOY
1Q-3Q 2020
1Q-3Q 2019
YOY
6,752,034
4,547,164
+48%
15,040,706
14,429,289
+4%
11.91%
10.57%
+13%
11.50%
9.42%
+22%
495,840
418,526
+18%
1,352,428
1,285,751
+5%
308,120
62,214
+395%
377,274
73,631
+412%
1,038,776
60,220
+1625%
1,075,967
302,098
+256%
1,239,707
92,279
+1243%
1,295,913
286,903
+352%
18.36%
2.03%
+804%
8.62%
1.99%
+333%
3.48
0.25
+1292%
3.54
0.8
+343%
In NTD$ Thousands 3Q 2020 3Q 2019 YOY 1Q-3Q 2020 1Q-3Q 2019 YOY
Operating Revenue 6,752,034 4,547,164 +48% 15,040,706 14,429,289 +4%
Gross Margin Rate 11.91% 10.57% +13% 11.50% 9.42% +22%
Operating Expenses 495,840 418,526 +18% 1,352,428 1,285,751 +5%
Operating Income 308,120 62,214 +395% 377,274 73,631 +412%
Non-Operating Income
and Expenses		 1,038,776 60,220 +1625% 1,075,967 302,098 +256%
Net Income 1,239,707 92,279 +1243% 1,295,913 286,903 +352%
Net Income Rate 18.36% 2.03% +804% 8.62% 1.99% +333%
EPS（NTD） 3.48 0.25 +1292% 3.54 0.8 +343%

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2020 Q3 產品分類比重（以營收計）
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Telecom
Infrastructure
Connected 5-10%
Home
America
15-20%
25-30%
Europe
50-55%
Wi-Fi Module
15-20%
Cloud & Integrated
Asia
Others Product
20-25%
0-5% 55-60%
America Asia Europe
Telecom Infrastructure Integrated Product
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Cloud & Others Wi-Fi Module

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Connected Home

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2020總結
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1H2020

2H2020

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Production has been impeded due to shortage of labor and materials Deferred shipment to 2Q20

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WFH brings new business opportunities

Spin off Ampak, increase non-operating income

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WFH trend from COVID-19

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Company operation are getting better

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展望

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2021 展望
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New Technology New Customers New Applications

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產業趨勢

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2018-2020 中美對峙

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中美對峙越演越烈

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挑戰與機會
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Challenges

Opportunities

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Tariffs and factory costs

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Transfer order effect

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Currency Risk

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Clean network

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Policy may change in the future

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Declining Competitiveness of China

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5G
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Source: Quora.com

5G頻段比較

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電信基礎建設
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Base Station

Small Cell

Mobile Terminal Equipment

Fixed Terminal Equipment

MERC Switch

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電信基礎建設

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5G 預估
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Global 5G CPE shipment forecast

Unit: Million

Global small base station market forecast

Unit: K RUs

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Source:MIC

Wi-Fi 6

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Wi-Fi 6E
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Source: Wi-Fi Alliance

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Wi-Fi 6
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Source: Radiotech corp

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THANK YOU

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Q & A

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