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G.M.I Investor Presentation 2021
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GLOBAL MOBILE INTELLIGENCE(3312)
4Q20 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
+7.67%
QoQ
+6.72%
YoY
+2%
Notes:
Financial-Gross Margin
YoY
+1.45pt
QoQ
+1.02pt
YoY
+0.23pt
Notes:
Financial- Consolidated Earnings Per Share
(In NT$)
QoQ
+0.22
YoY
+0.27
YoY
+0.41
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Notes:
Financial- Consolidated Income Statement- Quarterly
| (In NT$ thousands) | | | | | | | | | | |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| | | 4Q20 | | 3Q20 | | 4Q19 | | QoQ | | YoY |
| Net Sales | | 3,882,379 | | 3,638,008 | | 3,806,323 | | 6.72% | | 2.00% |
| Operating costs | | 3,657,037 | | 3,464,069 | | 3,640,746 | | | | |
| Gross Profit | | 225,342 | | 173,939 | | 165,577 | | 29.55% | | 36.09% |
| Selling expenses | | 60,576 | | 58,624 | | 63,383 | | | | |
| Administrative expenses | | 43,243 | | 34,673 | | 41,518 | | | | |
| R&D expenses | | 8,813 | | 5,741 | | 5,238 | | | | |
| Expected credit gain | | (2,598) | | (9,338) | | 338 | | | | |
| Operating expenses | | 110,034 | | 89,700 | | 110,477 | | | | |
| Operating income | | 115,308 | | 84,239 | | 55,100 | | 36.88% | | 109.27% |
| Net non-operating income | | (6,976) | | (4,582) | | (5,603) | | | | |
| Net income before income tax | | 108,332 | | 79,657 | | 49,497 | | | | |
| Income tax expense (income) | | 21,935 | | 20,663 | | 15,888 | | | | |
| Net profit | | 86,397 | | 58,994 | | 33,609 | | 46.45% | | 157.07% |
| EPS | | 0.69 | | 0.47 | | 0.28 | | | | |
| | | | | | | | | | | |
Notes:
Financial-Consolidated Income Statement - Yearly
| (In NT$ thousands) | | | | | | |
| --- | --- | --- | --- | --- | --- | --- |
| | | Ytd 20 | | Ytd 19 | | YoY |
| Net Sales | | 13,678,646 | | 12,704,736 | | 7.67% |
| Operating costs | | 13,003,476 | | 12,106,748 | | |
| Gross Profit | | 675,170 | | 597,988 | | 12.91% |
| Selling expenses | | 234,129 | | 233,176 | | |
| Administrative expenses | | 146,275 | | 130,731 | | |
| R&D expenses | | 24,022 | | 19,783 | | |
| Expected credit gain | | (4,766) | | (3,101) | | |
| Operating expenses | | 399,660 | | 380,589 | | |
| Operating income | | 275,510 | | 217,399 | | 26.73% |
| Net non-operating income and expenses | | (27,290) | | (10,584) | | |
| Net income before income tax | | 248,220 | | 206,815 | | |
| Income tax expense(benefit) | | 50,646 | | 51,898 | | |
| Net Income | | 197,574 | | 154,917 | | 27.54% |
| EPS | | 1.58 | | 1.31 | | |
Notes:
Financial-Consolidated Balance Sheet
| (In NT$ thousands) | | | | | | | | | |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Item | 2020 4Q | | 2020 3Q | | 2019 4Q | | QoQ | | YoY |
| Cash and cash equivalents | 1,228,978 | | 1,101,417 | | 481,942 | | 11.58% | | 155.01% |
| Account receivable | 2,824,659 | | 2,877,025 | | 3,182,176 | | (1.82%) | | (11.23%) |
| Inventories | 804,619 | | 655,431 | | 680,348 | | | | |
| Other current assets | 301,092 | | 310,915 | | 318,984 | | | | |
| Other non-current assets | 357,833 | | 123,239 | | 77,023 | | | | |
| Total Assets | 5,517,181 | | 5,068,027 | | 4,740,473 | | | | |
| Loans | 1,306,497 | | 1,118,017 | | 1,189,699 | | 16.86% | | 9.82% |
| Account payable | 2,570,861 | | 2,387,614 | | 1,981,393 | | 7.67% | | 29.75% |
| Other current liabilities | 143,519 | | 129,891 | | 143,054 | | | | |
| Total non-current liabilities | 8,627 | | 10,521 | | 20,707 | | | | |
| Total Liabilities | 4,029,504 | | 3,646,043 | | 3,334,853 | | | | |
| Total Equity | 1,487,677 | | 1,421,984 | | 1,405,620 | | | | |
Notes:
Company Profile
1
Financial Result
2
Outlook
3
Q&A
4
Notes:
Outlook│New product agent
Company: StorArt Technology Co., Ltd.
Capital: 400 million NTD
Date Founded: February 2012
Introduction:
The main design storage control chip, there are currently more than 100 R&D personnel, and the average experience in the semiconductor field is more than 8 years.
Independently innovate and develop control chip design, verification, and testing processes, and currently accumulate more than 100 hardware and firmware patents.
GMI products are mainly promoted in the market
Storage control chip (Wafer)S
SD, eMMC, SD, UFS
Storage products, monitoring products, consumer electronics, etc...
Notes:
Outlook│New product agent
Company: CENTERA PHOTONICS INC.
Capital: 400 million NTD
Date Founded: June 2010
Introduction:
Dedicated to the integration of silicon optical platform for microelectromechanical semiconductor technology.Small-size and high-precision optical connection module design and wafer-level process introduce mass-production-scale manufacturing capabilities. Gradually develop optoelectronic integrated chips (OE-IC) as higher-level optical communication components.
GMI products are mainly promoted in the market
High-end optical communication module
Network communication: data center, cloud computing, 5G base station, industrial automation, remote information publishing system... etc.
Image transmission: theaters, medical images, high-definition conference systems, public security monitoring... etc.
Notes:
Outlook│New product agent
Company: ADVANCED POWER ELECTRONICS CORP.
(Code: 8261)
Capital: NT$800 million
Date of establishment: July 1998
Introduction:
The first IC design company in Taiwan to successfully integrate 6-inch DMOS Provide overall power solutions, MOSFET, IGBT, Power ICs, and obtain ISO9001 certification. By the end of 2019, MOSTE shipped more than 31 billion chips
GMI products are mainly promoted in the market
MOSFET: 12~250V and 400~900V
IGBT: 400~1300V
Used in computers, servers, graphics cards, charging piles, communications and industrial fields.
Notes:
Outlook│New product application
Zbit Nor Flash is introduced into major Taiwanese manufacturers, and shipments begin in the first quarter
TWS active noise reduction chip shipments exceeded 480,000 units in the fourth quarter of 20 years
Hearing aid market expects customers to start trial production in the second quarter
The shipment of Bluetooth bracelet chips exceeded 1.1 million in the fourth quarter of 20 years
2.5G Ethernet personal computers and broadband customers began to ship in large quantities
IOT Smart bulbs and smart socket clients import this year’s amplification
GaN power adapter, customer verification is completed, ready to import RFQ
WiFi-6 customers are expected to enter mass production in the second quarter
Notes:
Outlook│Main sales
Operators and bidding market
IPTV/ AP Router / XPON/ XDSL/ IP-CAM
Sales in the fourth quarter accounted for 23-25% of overall revenue
QoQ成長38% (XDSL 262%, XPON 97%)
Desktop and notebook computers
Sales in the fourth quarter accounted for 19-20% of overall revenue
QoQ grows 16%
Notes:
Outlook│Overall assessment in 2021
Suppliers' production capacity is tight, and some end-customers have placed orders for this year ahead of schedule
Wireless network The main growth momentum extends from the third quarter of 20 to 21 years, and the main revenue comes from xPON, xDSL, AP Router, NB, IPTV, IP Cam, Dongle, Module, etc.
Ethernet Driven by PC and non-PC applications, growth momentum will continue to 21 years
Computer and peripheral applications ODM/OEM continues to pursue goods to extend to 21 years
Bluetooth SOC standard TWS enters the Red Sea market, wristbands, gamepads demand continuous heating
China Mobile's centralized direct supply strategy worked and began to contribute performance
Serious imbalance between supply and demand, assist customers to introduce alternative solutions to solve urgent needs
Notes:
ＴＨＡＮＫ ＹＯＵ！
Q & A