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G.M.I Investor Presentation 2021
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GLOBAL MOBILE INTELLIGENCE(3312)
1Q21 Result Briefing
Notes:
Disclaimer
Except for historical information contained herein, the matters set forth in this presentation are forward looking statements that are subject to risks and uncertainties that could cause actual results to differ materially, including the impact of competitive products and pricing, timely design acceptance by our customers, timely introduction of new technologies, ability to ramp new products into volume, industry wide shifts in supply and demand for semiconductor products, industry overcapacity, availability of manufacturing capacity, financial stability in end markets, and other risks.
Notes:
Company Profile
1
Financial Result
2
Outlook
3
Q&A
4
Notes:
Company profile
Headquarter: Taipei
Capital 1.25 billion
Since 1995
12 locations in China,
Hong Kong, Taiwan
IPO in 2010 #3312
190 employees
Notes:
Company Profile
1
Financial Result
2
Outlook
3
Q&A
4
Notes:
Financial-Consolidated Revenue
(In NT$ thousands)
YoY
+36.8%
QoQ
+5.5%
Notes:
Financial-Gross Margin
QoQ
-0.9pt
YoY
+0.59pt
Notes:
Financial- Consolidated Earnings Per Share
(In NT$)
QoQ
-0.17
YoY
+0.31
Notes:
Financial- Consolidated Income Statement- Quarterly
| (In NT$ thousands) | | | | | | | | | | |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| | | 1Q21 | | 4Q20 | | 1Q20 | | QoQ | | YoY |
| Net Sales | | 4,095,776 | | 3,882,379 | | 2,994,045 | | 5.50% | | 36.80% |
| Operating costs | | 3,895,287 | | 3,657,037 | | 2,865,083 | | | | |
| Gross Profit | | 200,489 | | 225,342 | | 128,962 | | (11.03%) | | 55.46% |
| Selling expenses | | 75,638 | | 60,576 | | 55,432 | | | | |
| Administrative expenses | | 29,623 | | 43,243 | | 32,972 | | | | |
| R&D expenses | | 11,821 | | 8,813 | | 4,719 | | | | |
| Expected credit gain | | 8,827 | | (2,598) | | 3,700 | | | | |
| Operating expenses | | 125,909 | | 110,034 | | 96,823 | | | | |
| Operating income | | 74,580 | | 115,308 | | 32,139 | | (35.32%) | | 132.05% |
| Net non-operating income | | 7,379 | | (6,976) | | (5,715) | | | | |
| Net income before income tax | | 81,959 | | 108,332 | | 26,424 | | | | |
| Income tax expense (income) | | 16,663 | | 21,935 | | 1,400 | | | | |
| Net profit | | 65,296 | | 86,397 | | 25,024 | | (24.42%) | | 160.93% |
| EPS | | 0.52 | | 0.69 | | 0.21 | | | | |
| | | | | | | | | | | |
Notes:
Financial-Consolidated Balance Sheet
| (In NT$ thousands) | | | | | | | | | |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Item | 2021 1Q | | 2020 4Q | | 2020 1Q | | QoQ | | YoY |
| Cash and cash equivalents | 1,002,746 | | 1,228,978 | | 803,516 | | (18.41%) | | 24.79% |
| Account receivable | 3,271,870 | | 2,824,659 | | 2,865,686 | | 15.83% | | 14.17% |
| Inventories | 845,724 | | 804,619 | | 725,423 | | | | |
| Other current assets | 380,907 | | 301,092 | | 322,046 | | | | |
| Other non-current assets | 355,293 | | 357,833 | | 75,633 | | | | |
| Total Assets | 5,856,540 | | 5,517,181 | | 4,792,304 | | | | |
| Loans | 1,321,344 | | 1,306,497 | | 1,302,682 | | 1.14% | | 1.43% |
| Account payable | 2,818,033 | | 2,570,861 | | 1,918,266 | | 9.61% | | 46.91% |
| Other current liabilities | 159,028 | | 143,519 | | 113,594 | | | | |
| Total non-current liabilities | 6,106 | | 8,627 | | 17,113 | | | | |
| Total Liabilities | 4,304,511 | | 4,029,504 | | 3,351,655 | | | | |
| Total Equity | 1,552,029 | | 1,487,677 | | 1,440,649 | | | | |
Notes:
Company Profile
1
Financial Result
2
Outlook
3
Q&A
4
Notes:
Outlook│New product agent
Company: PHYPLUS MICROELECTRONICS
Capital: RMB 16.47 million
Date of establishment: : May 2015
Introduction:
Committed to the development of low-power RF chip technology and communication protocol stacks for independent intellectual property rights, and provide low-power wireless communication chips and solutions.
Provide BLE BT 2.4G SOC solution, BT Mesh Alliance BQB certification.
By 2020, more than 100 million chips will be shipped, an annual growth rate of 30-50%
GMI products are mainly promoted in the market:
BLE BT : 4.2 / 5.0 / 5.1
Used in smart bracelets, smart switches, electronic tags, smart speakers, BLE positioning and electronic scales.
Notes:
Outlook│New product agent
Company: Everest Semiconductor
Capital: RMB 20million
Date of establishment: : Jul 2005
Introduction:
The first company in China to do audio ADC, DAC, and CODEC.
Provide high-efficiency audio digital-analog mixed-signal chip ADC, DAC and CODEC products, and obtain 15 national intellectual property rights.
The number of shipments in 2020 will exceed 80 million, with an annual growth rate of 20-30%.
GMI products are mainly promoted in the market:
AUDIO CODEC, ADC, DAC
It is used in smart home, voice remote control, smart speaker, POS machine, PC market and security monitoring and other fields.
Notes:
Outlook│New product agent
Company: Hong Kong Derun Microelectronics
Capital: HKD 20million
Date of establishment: : Jun 2018
Introduction:
A leading manufacturer of highly integrated intelligent power supply system solutions.
The main solution: USB Type-C comprehensive protection-port overvoltage and ESD protection.
International safety certification-OCP multi-stage adjustment intelligent LOAD SWITCH.
GMI products are mainly promoted in the market:
Laptops and Desktop / Note Book
Monitor and Displays
Dongle/Docking
USB PD for Charger
Notes:
Outlook│New product agent
Company: NeuronBasic
Capital: USD 12 million
Date of establishment: : Jun 2018
Introduction:
The world's first design company to successfully integrate CIS into AI SoC Provides a complete single crystal edge computing artificial intelligence solution.
It has obtained a US IC invention patent. It has the advantages of low power consumption and low cost, and high compatibility interface, which can successfully shorten the development time.
Start shipping in early 2020.
GMI products are mainly promoted in the market:
NB1001 can run independently, detect, identify and apply to battery-powered products
Used in smart homes, smart toys and smart peripherals that need to be quickly upgraded
Notes:
Outlook│New product agent
Company: Chipbetter Microelectronics Inc.
Capital: RMB 200 million
Date of establishment: : Oct 2018
Introduction:
Main investor UMC, Xiaomi
The main product is FEM (micro base station, IOT, UWB)
Established for two years, the products have been successfully imported into the resource pool of international large factories.
GMI products are mainly promoted in the market:
Router WIFI5/6.
Micro base station, CPE meets mobile, China Unicom, and telecommunications frequency bands.
UWB is accurately positioned in industry customers, hospitals, pensions, chemical industries...
Notes:
Outlook│New product application
Zbit NOR FLASH, Taiwanese manufacturers have shipped more than 7 million units in 21 years
StorArt Hengyu Technology (storage control chip), a major land-based factory has shipped more
than 800,000 units in 21 years
APEC Fuding Advanced (MOSFET), major Taiwanese manufacturers expect large quantities of
shipments in the third quarter
Hearing aid market expects small shipments from customers in the third quarter
Bluetooth bracelet chip shipments have exceeded 2.2 million in 21 years
IOT has shipped 4.1 million units in 21 years
WIFI-6 terminal customers enter mass production, and shipments in 21 years have exceeded 1
million
Notes:
Outlook│Main sales
Operators and bidding market
IPTV/ AP Router / XPON/ XDSL/ IP-CAM
Sales in the first quarter accounted for 22-25% of overall revenue
YoY grows 4%(XPON 76.5%)
Desktop and notebook computers
Sales in the first quarter accounted for 17-19% of overall revenue
YoY grows 140%
Notes:
Outlook│Overall assessment in 2021
Under the influence of WFH, 5G mobile phone, and automotive market demand, the production capacity of major suppliers is tight, and there is no clear supply in the second half of the year.
Wireless network The main revenue comes from xPON, xDSL, AP Router, NB, IPTV, IP Cam, Dongle, Module, etc. Customer demand remains strong in the second half of the year.
Ethernet Promoted by the volume of PC, non-PC and 2.5G, demand continues to rise.
Computer and peripheral applications ODM/OEM manufacturers continue to pursue the goods to extend to 21 years.
Netcom products the direct supply strategy for large-scale land-based customers has worked, and performance continues to ferment.
Memory category price increase, specifications increase, overall performance is expected to continue to grow.
Notes:
ＴＨＡＮＫ ＹＯＵ！
Q & A