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HO TUNG — Call Transcript 2020
Dec 15, 2020
51897_rns_2020-12-15_2a516424-9b7c-460f-9c5b-8d4dfa9e0dac.pdf
Call Transcript
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HO TUNG CHEMICAL CO., INVESTOR CONFENERENCE
(Stock Code: 1714)
Keynote Speaker : General Manager Yi-Ru Chen
2020.12.16
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Outline
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一、
Company
Profile
二、
Sales and
Prouction
三、
Q&A Financial
Report
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Disclaimer
- This material has been prepared by Ho Tung Chemical Corp., (“HoTung”).
� Any opinions expressed in this material are subject to change without notice as a result of using different assumptions. HoTung is under no obligation to update or keep current the information contained herein. The information contained in this presentation is HoTung’s confidential information.
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Company Profile
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Date of Established :1980.8.1
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Listed in The Taiwan Stock Exchange: 1991.8.30
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Capital: NT$10,168,248,080
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Consolidated Revenue:NT$27,459,637,000(Year 2020) Individual Revenue:NT$4,084,481,000(Year 2020)
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Sales Territory
Unit: NT
| Year Area |
Year 2018 | Year 2018 | Year 2019 | Year 2019 |
|---|---|---|---|---|
| Amount | % | Amount | % | |
| Taiwan | 1,968,261,000 | 6.48 | 1,577,964,000 | 5.75% |
| Mainland China |
20,930,177,000 | 68.86 | 19,926,457,000 | 72.56% |
| Southeast Asia |
3,249,987,000 | 10.69 | 2,739,372 | 9.98% |
| Others | 4,245,609,000 | 13.97 | 3,215,844 | 11.71% |
| Total | 30,394,034,000 | 100.00 | 27,459,637 | 100% |
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Global Operation/Production Centres
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Tianjin Tianjin
LAS/AES Oil Tanks
Anhui
LAS/AES
Nanjing
LAB/LAS
Chengdu Kaohsiung,
LAS/AES Shanghai Taiwan:
LAS
NP
Xiamen
Taichung, Taiwan
LAS Oil Tanks
Guangzhou
LAS/AES
Changhua/ Kaohsiung,
Huizhou
Taiwan:
AEO/AES
Cement 、 Slag Powder
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Supply Chain of Surfactants圖
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氯化腊 潤滑油
CP BO
煤油 正烷屬烴 清潔劑 Home Care:
直鏈烷基苯 烷基苯磺酸
KERO NP LAB LAS DETERGENT Detergent
航空燃油 高碳數醇 其他油品
FO HC ALCOHOL OTHERS
工業用溶劑
SOLVENT
Personal Care:
Shampoo
乙稀 脂肪醇硫酸鹽 Body wash
Ethylene AS Conditioner
脂肪醇
醇醚
( 天然 / 合成 ) 醇醚磺酸鹽
AEO
Fatty Alcohol AES
棕櫚仁油 (N/S) 工業用界面活性劑
CPKO
Surfactant
Antiseptic
羥乙基磺酸鹽
SI
環氧乙烷
椰子油
Coconut Oil EO 乙醇胺 , 碳酸乙酯 , 電子用化學品
及其他衍生物 Chemical for
EA,EC,EOD Electron
和桐化學現有產品
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Global Production Capacity of LAB in 2020
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Cepsa
14.87%
Others
32.10% HT
67.90%
8.68%
Sasol
8.55%
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| 1st Cepsa | 600kiloton/year |
|---|---|
| 2nd Ho Tung | 350kiloton/year |
| 3rd Sasol | 345kiloton/year |
Others：2739 kiloton/year Top Three：1295 kiloton/year Total：4034 kiloton/year
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China Sulfonation Production Capacity in
2020
Others19.52%
Lichen
12.94%
1 [st] Ho Tung 700 kiloton/year
2 [nd] Zanyu 480 kiloton/year
Ho Tung
40.07% 3 [rd] Lichen 226 kiloton/year
80.48%
Zanyu
27.48%
Others：341 kiloton/year Top Three：1406 kiloton/year Total：1747 kiloton/year
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Strategic Business Partners
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Major Client
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Company Profile
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Financial Report
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Q&A
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Operating revenue/Income
| 2017 | % | 2018 | % | 2019 | % | 2020Q3 | % | |
|---|---|---|---|---|---|---|---|---|
| Operating revenue |
31,429,670 | 100 | 30,394,034 | 100 | 27,459,637 | 100 | 20,327,609 | 100 |
| Operating Costs |
29,063,065 | 92 | 28,100,469 | 93 | 24,915,522 | 91 | 15,300,058 | 75 |
| Gross Profit | 2,366,605 | 8 | 2,293,565 | 7 | 2,544,115 | 9 | 5,027,551 | 25 |
| Operating Expenses |
1,733,397 | 6 | 1,545,371 | 5 | 1,684,150 | 6 | 1,943,299 | 10 |
| Operating Profit |
633,208 | 2 | 748,194 | 2 | 859,965 | 3 | 3,084,252 | 15 |
| Total Non-Op Inc. / Exp. |
10,558 | - | -77,837 | - | -293,987 | 1 | -93,939 | - |
Pre-Tax Income |
643,766 | 2 | 670,357 | 2 | 565,978 | 2 | 2,990,313 | 15 |
| Income Tax Expense |
232,340 | 1 | 232,440 | - | 207,354 | 1 | 468,882 | 3 |
| Net Income | 411,426 | 1 | 437,917 | 2 | 358,624 | 1 | 2,521,431 | 12 |
| EPS (NTD) | 0.34 | 0.26 | 0.02 | 1.88 | ||||
| Dividend (NTD) |
現金0.30 | 現金0.15 | - | - | 13 |
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Consolidated Balance Sheets
September 30, 2020
Unit: 1,000 NTD
| Account | Amount | % | Account | Amount | % |
|---|---|---|---|---|---|
| Cash and cash equivalents | 5,341,192 | 22.27 |
Short-term borrowing | 1,557,841 | 6.49 |
| Financial assets at fair value through profit loss-current |
1,637,985 | 6.83 |
Total account payables | 2,069,711 | 8.63 |
| Accounts receivable | 3,388,576 | 14.13 |
Other current liabilities | 970,417 | 4.05 |
| Inventories | 2,118,438 | 8.83 |
Total current liabilities | 4,597,969 | 19.17 |
| Other current assets | 1,523,069 | 6.35 |
Long-term loans | 1,727,965 | 7.20 |
| Total current assets | 14,009,260 | 58.41 |
Other non-current liabilities | 1,495,796 | 6.24 |
| Financial assets at fair value through profit or loss-non-current |
1,951,150 | 8.13 |
Total non-current liabilities | 3,223,761 | 13.44 |
| Property plant and equipment | 5,241,819 | 21.85 |
Total liabilities | 7,821,730 | 32.61 |
| Right-of-use assets | 1,526,209 | 6.36 |
Equity attributable to owners of parent company |
12,306,972 | 51.31 |
| Other non-current assets | 1,257,976 | 5.25 |
Non-controlling interests | 3,857,712 | 16.08 |
| Total non-current assets | 9,977,154 | 41.59 |
Total equity | 16,164,684 | 67.39 |
| Total assets | 23,986,414 | 100.00 | Total liabilities and quity | 23,986,414 |
100.00 |
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Financial Ratio Analysis
| Financial Ratio | 2019/09/30 | 2020/09/30 | |
|---|---|---|---|
| Financial Structure | Shareholders' equity as asset ratio |
56.54% | 67.39% |
| Liabilities to asset ratio | 43.46% | 32.61% | |
| Solvency | Current ratio | 198.50% | 304.68% |
| Quick ratio | 134.95% | 247.93% | |
| Profitability | Gross margin | 9.08% | 24.73% |
| Operating interest rate | 3.27% | 15.17% | |
| Operational capacity |
Average collection period | 67日 | 51日 |
| Average payment period | 24日 | 20日 | |
| Rate of return | Shareholders' return on equity | 1.18% | 22.42% |
| Total return on assets | 1.38% | 14.96% |
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和桐化學 2017年度法人說明會
公司網站: www.htgroup.com.tw