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GMI 1Q19 Earnings Release

May 28th, 2019

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Safe Harbor Statements
GMI’s forward-looking statements, which may include statements regarding its results of operations, financial condition or business prospects, are subject to significant risks and uncertainties and are based on GMI’s current expectations.
Actual results may differ materially from those expressed or implied in these forward-looking statements for a variety of reasons, including, among other things: the cyclical nature of our industry; our dependence on introducing new products on a timely basis; our dependence on growth in the demand for our products; our ability to compete effectively; our dependence on key personnel; general economic and political conditions; possible disruptions in commercial activities caused by natural and human-induced disasters, including terrorist activity and armed conflict; and fluctuations in foreign currency exchange rates.
In addition, any financial information contained here within is presented in conformity with International Financial Reporting Standards (IFRSs).
Except as required by law, our release of financial forecasts and forward-looking statements at any particular time does not create any duty of disclosure, and we expressly disclaim any obligation to publicly update or revise any forecasts or forward-looking statements, whether as a result of new information, future events or otherwise.
I. 公司本體部分
II. 代理產品部分

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Agenda
Company Brief
Financial Update
Business Outlook
Q&A

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Company Overview

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Established in 1995

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Capital Amount: NTD$1.1 Billion

Headquarter in Taipei
10 service locations are located
China 、Hong Kong、Taiwan

Listed at OTC in 2005
Listed at TWSE in 2010

3312

Over 180 employees

Notes:

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Financial-Consolidated operating income

(In NT$ Thousands)
QoQ
-13.3%
YoY
+20.5%

Chart

Category
1Q18	2060013.0
4Q18	2861558.0
1Q19	2482099.0

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Financial-Consolidated operating gross profit margin

QoQ
+0.40pt
YoY
-0.03pt

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Category

Chart

Category
1Q18	0.04559728506567677
4Q18	0.041325389875026125
1Q19	0.045334211085053415

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Financial-Consolidated earnings per share

(In NT$)
QoQ
+0.01
YoY
-0.13

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Category

Chart

Category
1Q18	0.36
4Q18	0.22
1Q19	0.23

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Financial-Consolidated income statement (Quarter)
| (In NT$ Thousands) | | | | | | | | | | |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Items | | 1Q19 | | 4Q18 | | 1Q18 | | Q-Q | | Y-Y |
| Net Sales | | 2,482,099 | | 2,861,558 | | 2,060,013 | | (13.26%) | | 20.49% |
| Operating costs | | 2,369,575 | | 2,743,303 | | 1,966,082 | | | | |
| Gross profit | | 112,524 | | 118,255 | | 93,931 | | (4.85%) | | 19.79% |
| Selling expenses | | 54,195 | | 25,856 | | 49,377 | | | | |
| Administration expenses | | 29,822 | | 55,392 | | 22,437 | | | | |
| R&D expenses | | 4,871 | | 4,171 | | 5,248 | | | | |
| Expected credit gain | | (6,336) | | 0 | | (356) | | | | |
| Operating expenses | | 82,552 | | 85,419 | | 76,706 | | | | |
| Operating income | | 29,972 | | 32,836 | | 17,225 | | (8.72%) | | 74.00% |
| Net non-operating income and expenses | | (69) | | (451) | | (2,078) | | | | |
| Net income before income tax | | 29,903 | | 32,385 | | 15,147 | | | | |
| Income tax expense(income) | | 4,625 | | 7,873 | | (21,883) | | | | |
| Net income | | 25,278 | | 24,512 | | 37,030 | | 3.13% | | (31.74%) |
| EPS attributable to the parent(NT$) | | 0.23 | | 0.22 | | 0.36 | | | | |

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Financial-Consolidated balance sheet
| (In NT$ Thousands) | | | | | | | | | |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Items | 1Q19 | | 4Q18 | | 1Q18 | | Q-Q | | Y-Y |
| Cash and cash equivalents | 520,991 | | 466,194 | | 435,512 | | 11.75% | | 19.63% |
| Accounts receivable | 2,193,984 | | 2,465,796 | | 1,794,642 | | (11.02%) | | 22.25% |
| Inventories | 629,950 | | 545,543 | | 615,101 | | | | |
| Other current assets | 275,014 | | 287,839 | | 290,003 | | | | |
| Other non-current assets | 74,998 | | 43,267 | | 41,057 | | | | |
| Total assets | 3,694,937 | | 3,808,639 | | 3,176,315 | | | | |
| Short-term loans | 812,375 | | 652,927 | | 728,473 | | 24.42% | | 11.52% |
| Accounts payable | 1,345,311 | | 1,671,228 | | 1,100,156 | | (19.50%) | | 22.28% |
| Other current liabilities | 145,554 | | 128,582 | | 99,609 | | | | |
| Total non-current liabilities | 31,823 | | 22,006 | | 52,292 | | | | |
| Total equity | 1,359,874 | | 1,333,896 | | 1,195,785 | | | | |

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Application Field
Communication/Networking
Smart Home│Telecomm and Networking Equipment

Consumer Electronic?TV│Tablet │BT Earphone

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IoT?Smart Wear│Drone│Smart Light

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Computer Peripherals
Server │ NB │ MB │Industrial PC

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Automotive Electronics?Car Entertainment │ Car Safety

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Industrial electronics
Medical Equipment │ Security System

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Growth kinetic energy field
True wireless bluetooth headset

Sales exceeded 4.3 million wafers in the first quarter of 2019
Accounting for 8.6% of overall revenue
New product line agent

     Intel I Chip MEMS MIC
     IDM Gas sensor
                       antenna
       lithium polymer battery

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New product line agent│IDM

MEMS Gas sensor
IDM was founded in Suzhou in 2014 by NASA's original nano-gas sensor R&D team. It focuses on the development, production and establishment of artificial olfactory platform for advanced smart gas sensors.
MEMS gas sensor types: carbon monoxide, methane, formaldehyde, TVOC, hydrogen sulfide, ethanol, nitrogen oxides, ammonia, etc.
Product features: small size, low power consumption, integration and intelligence
空气质量检测模组

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New product line agent│Intel I Chip

Intel I Chip ：Committed to MEMS smart sensing products and modules

Intel I Chip Microelectronics was founded in 2018 by the Microelectronics R&D team of Sun Yat-sen University in Guangzhou Technology Enterprise Accelerator.
With wafer design, package testing, acoustic applications, this multi-year experience team features: small size, low power, integration and intelligence
Annual production capacity of 60 million

空气质量检测模组

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New product line agent │EML
Focus on the production of small and medium-sized micro-capacity lithium batteries

Headquartered in Hangzhou, the investment in plant, equipment, R&D and testing exceeds RMB 500 million.
Designed and manufactured from the battery core to the battery pack, the monthly production capacity exceeds 3 million pcs.
Customized design is high, and it has design capabilities such as high temperature resistance and fast charge system.
Product certification is complete, targeting high-end customers。

Notes:

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New product line agent │ ANGEEI

Antenna professional supplier

Headquarters and factory located in Zhangjiagang, Suzhou, designed and produced by itself, with a number of product design patents
The factory has passed ISO14001/IATF16949 certification.
Through Hongyi International's years of hard work in the communication network market, we provide customers with more comprehensive solutions.

Notes:

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Q & A

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