INX — Investor Presentation 2024

Mar 15, 2024

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群創光電2024年上半年法人說明會

2024年3月4日

免責聲明

群創光電股份有限公司對於現狀期待與預測的陳述是前瞻性的陳述，實際的結果可能因為已知 或未知之風險、不確定性及其他之因素，而與前瞻性陳述所包含或暗示的內容有明顯出入。這 些前瞻性陳述並不是群創光電對未來履行的保證，因此您不應依賴此前瞻性陳述。除非法律有 所要求，否則群創光電不負責更新、更正任何前瞻性陳述，不論日後有發生新資訊、事件等。

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會議議程

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1. 面板市場概況

2. 公司營運與策略

3. 財務報表摘要

4. Q&A

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- 短期市場 低庫存水位及高出貨動能

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 面板供應– 源頭管理、按需生產、維持低庫存

• 整機備貨– 渠道庫存健康啟動生產備貨需求

• 銷售展望– 三大運動賽事(歐洲國家盃、美洲國家盃、巴黎奧運) 刺激電視需求

面板庫存週數指標 Panel Inventory Tacking – Under-Low Level

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6.0
5.0
4.0
3.0
2.0
1.0
0.0 Normal leve l
-1.0
-2.0
-3.0
-4.0
LCD TV panel Mobile PC panel
weeks
Jan-21 Mar-21 May-21 Jul-21 Sep-21 Nov-21 Jan-22 Mar-22 May-22 Jul-22 Sep-22 Nov-22 Jan-23 Mar-23 May-23 Jul-23 Sep-23 Nov-23(f) Jan-24(f)
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整機庫存週數指標 TV Set Inventory Tracking – Healthy Level 6.0 5.0 4.0 3.0 2.0 1.0 0.0 ~~Normal level~~ -1.0 -2.0 -3.0 -4.0 LCD TV Notebook

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Source: INX, Omdia

– 中期展望 供需緊平衝迎來旺季

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• 產能成長 產能收斂、供應集中TOP 5 供應商

• 需求成長 持續朝向大尺寸、高解析度、高規格發展

• 產業策略 由產能競賽轉向規格競爭健康發展

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Source: INX, Omdia

Notes: Demand includes AMEPD, AMLCD, AMOLED, a-Si, LTPS and oxide panels for both large-area applications. Capacity includes all ramped capacity for fabs with ≥30% probability for large area display, glass sizes, and technologies.

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– 長期市場展望 立足顯示器本業擴大車載應用延伸發展半導體

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–  顯示器產業 產業穩定、健康成長

–  車載應用 朝向大尺寸 (LID) 整合模組 (Mini-Set) 發展

–  半導體事業 高壓高效先進封裝 (FOPLP)

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Automotive LID Business Semiconductor
Display Business Growing
(Large-Size Integrated Display) Advanced Packaging (FOPLP)
350
CAGR 12% CAGR 9% CAGR 3% Others 20.x-29.x
16,000
(‘00-’08) (‘08-’20) (‘20-’30) 30.x-39.x 14,639
300
Smart Watch
14,000 >40.x
Total 11,851
250 Public Display
12,000
200 OLED TV 10,000 20.x and larger automotive display 8,563
shipments
Mobile Phone
150 8,000
5,881
Mobile PC
6,000
100
3,634
LCD TV
4,000
50 2,361
Desktop Monitor 1,391
2,000 758
173
0
Automobile Monitor -
2022 2023 2024 2025 2026 2027 2028 2029 2030
700 mm
million square meters
0
2
1998 2000 2002 2004 2006 2008 2010 2012 2014 2016 2018 20 2022 2024 2026 2028 2030
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Source: INX, Omdia, YOLE

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2003

• 顯示器零件

• Commodity應用

2018 - 2023

More than panel (策略)

• 顯示器 vs.非顯示器領域

• 子公司分割、睿生IPO 、 FOPLP 、 組織重組

2024~

More than panel (定位)

• 顯示器領域

• ILS/IMS

• MicroLED

• 非顯示器領域

• 解決方案(X-ray/車用)

• 半導體

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Y2023 MicroLED 成果

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• Worldwide No.1 Color Uniformity by Color Conversion + Fluidic Mixing

• Worldwide No.1 Ambient Contrast Ratio by Color Conversion

• Worldwide No.1 High Resolution on Automotive Application

• Worldwide No.3/ Taiwan No. 1 MicroLED related patents granted

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Uniform & Accurate RGB Color
C.C.
 Best color uniformity
F.M.
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Ultimate Ambient Contrast Ratio
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World’s largest Ambient Contrast Ratio MicroLED display to be premiered at 2024 Touch Taiwan

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High Resolution

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9.6” 229ppi
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Patents Granted
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500+ MicroLED related patents granted, worldwide no.3, Taiwan no. 1

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扇出型面板級封裝 (FOPLP) 進度

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FOPLP VS.
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TFT LCD - Front end

60% process FOPLP Revenue per panel 2x TFT similarity

• Chip first followed by RDL (Redistribution Layer)

• Target high frequency & high power IC package in Automotive for short/mid term goal

• Ex. 77GHz Radar transceiver Chip-First for High Frequency:

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Ex. 650V DC/DC convertor
Chip-First for High Power:
Si die 1 TMV
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• Mass Production Plan: 3Q2024

Market positioning:

1. High Frequency : from 5G to 6G for communication & data transportation

2. High Power : from 100V phone charger to > 650V electric vehicle

3. High Speed : from mobile to HPC/AI data processing

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• RDL (Redistribution Layer) comes first

• Target high speed IC package for HPC/AI for mid/long term goal

• May deliver as glass substrate without chips

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Ex. RDL glass substrate

RDL First for High Speed:

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- 營收分類 非顯示器營收續攀高

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 非顯示器領域群營收自1Q22 起穩定成長，營收來源主要為車用產品  車用、 X-ray 、半導體等非顯示器領域為轉型策略重點

領域群營收

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Non-display revenue in NT$ million
100%
10% 12% $10,724 $11,997 $12,595 $14,842
21% 23% 24% 22% 22%
9% 28%
11%
80% Talent
12% 10% 11% 9% 9%
7%
60%
40% 81% 77% More than
67% 67% 66% 69% 69% 65% Location Panel Know-How
20%
0%
1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23
Commodity (TV, IT, Tablet, MP) Non-commodity (commercial products) Non-display (X-ray, automotive)
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合併綜合損益表摘要

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新台幣百萬元 (除每股盈餘為元) 營業收入淨額 營業成本 營業毛利 營業費用 營業淨利(損) 營業外收入及支出合計 稅前淨利(損) 本期淨利(損) 歸屬於母公司業主之本期淨利(損) 每股盈餘(1)(2) EBITDA(3) 折舊及攤銷 資本支出	2023 年 211,741 100.0% 208,632 98.5% 3,109 1.5% 21,818 10.3% (18,709) -8.8% 2,346 1.1% (16,363) -7.7% (18,599) -8.8% (18,643) -8.8% (2.01) 12,064 5.7% 30,773 21,352	2022 年 年成長 % 223,716 100.0% -5.4% 230,622 103.1% -9.5% (6,906) -3.1% - 24,759 11.1% -11.9% (31,665) -14.2% 40.9% 5,443 2.4% -56.9% (26,222) -11.7% 37.6% (27,915) -12.5% 33.4% (27,990) -12.5% 33.4% (2.76) 793 0.4% 1421.8% 32,458 21,048

附註:

1. 每股盈餘之計算是以本期歸屬於母公司之稅後淨利(損) / 在外流通加權平均普通股股數

2. 截至2023年12月31日，普通股股本為新台幣908億元

3. EBITDA = 營業利益+ 折舊及攤銷

4. 所有數字係由群創光電依據中華民國國際財務報導準則(TIFRS)編制

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合併資產負債表摘要

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新台幣百萬元 現金及短期投資 存貨 總資產 短期借款(1) 長期借款 權益總計(2) 流動比 負債權益比 淨負債比	2023.12.31 50,513 37,151 357,530 7,746 31,978 228,885 153% 17% -5%	2023.9.30 46,397 35,910 395,945 38,507 31,585 234,561 141% 30% 10%	2022.12.31 68,491 35,917 383,741 9,200 26,838 252,994 178% 14% -13%

附註:

1. 短期借款= 短期借款+ 一年內到期之長期借款

2. 截至2023年12月31日，普通股股本為新台幣908億元；普通股每股淨值為新台幣25.14元

3. 淨負債比= (短期借款+ 長期借款- 現金及短期投資) / 權益總計

4. 所有數字係由群創光電依據中華民國國際財務報導準則(TIFRS)編制

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