KeeTai — Call Transcript 2022

Sep 27, 2022

Kee Tai Properties Co., Ltd - 2022 On Line Investor Meeting - - 2022 09 28 TAIEX 2538

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Disclaimer

The estimated information referred in this presentation and the simultaneous release of relevant information is based on our Company‘s information derived from the Company data and the overall economic development.

Such estimated information will be subject to risks, uncertainties and inferences that will be partly out of our control and the actual results may differ materially from these estimated information. This may be due to various factors including but not limited to the increase in raw material costs, market demand, changes in various policies and ordinances, the financial and economic conditions and other risks beyond our Company's control.

The information provided in this presentation does not expressly or imply any representation as to its correctness, completeness or reliability nor does it represent a complete statement of our Company, the state of the industry or any subsequent major developments. The outlook for the future, response our Company so far the views for the future, for these views, the future if any changes or adjustments, our Company does not guarantee the correctness of the present information, and does not have the update or amendment presentation information content responsibility. This presentation and its contents shall not be freely accessible to any third party without the written permission of our Company.

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General Brief

Financial Results Operation Summary

Urban renewal in preparation

Vision

NOTE :

In the event of any discrepancy or ambiguity between this English translation and the Chinese version, the Chinese version shall prevail.

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General Brief

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Profile

• Established in 1979

• TSEC IPO in 1996

• Paid-in Capital：NT$4,384,487,640

• Number of Shares：438,448,764

• Total Net Value : 5,809,548 thousand

• TAIEX：2538

• Website：http://www.keetai.com.tw/index.html

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History

• Nov 1979 Established

• Nov 1996 TSEC Initial Public Offering

• Feb 1998 Issued the first domestic non-guaranteed convertible bonds NT $ 1 billion

• Aug 2006 Issued the “KeeTai Star Real Estate Investment Trusts“(REITs), which was the first and only one launched by construction company

• Oct 2012 Issued the second domestic guaranteed convertible bonds NT $ 700 million

• Nov 2013 Issued the third domestic guaranteed convertible bonds NT $ 1 billion

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Awards

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1994 “XinChun“ won the “Pre-sale Residence” 1st prize of Chinese Golden Stone Award

2000 “Century Louvre“ won the “New Residence“ 1st prize of Chinese Golden Stone Award 2004 “Century Louvre” won the 12th “Excellent Stone Award” Champion 2004 “Hsinyi Star” was the winner of Golden Octagonal Jade Award 2007 “Hsinyi Star” was voted top ten luxury residential which selected by Apple Daily 2011 Winner of the 8th Grand A of Information Transparency and Disclosure Ranking Results in Taiwan by SFI 2015 “KeeTai Zhongxiao” was selected to be the 3rd of 7S construction site clean movement in general engineering group by Department of Environmental Protection

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Financial Results

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Consolidated Income Statement

	Unit：million(NTD)	Unit：million(NTD)	Unit：million(NTD)	Unit：million(NTD)	Unit：million(NTD)	Unit：million(NTD)	Unit：million(NTD)
	Item	2017年	2018年	2019年	2020年	2021年	2022年Q2
	Operating income	304	148	174	507	255	199
	Gross margin	143	103	96	161	156	130
	Operating profit	35	-15	-103	-26	-30	21
	Non-Op. income	25	69	-183	-86	-82	133
	Net income	58	51	-291	-126	-122	149
	Other comprehensive income (Netafter tax)	-53	29	-26	-63	-23	-15
	Total comprehensive net income	5	80	-317	-189	-146	134
	Earningsper share	0.12	0.10	-0.68	-0.32	-0.31	0.3

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Consolidated Balance Sheet

	Unit：million(NTD)	Unit：million(NTD)	Unit：million(NTD)	Unit：million(NTD)	Unit：million(NTD)	Unit：million(NTD)	Unit：million(NTD)
	Item	2017年	2018年	2019年	2020年	2021年	2022年Q2
	Current assets	13,226	14,062	14,919	15,650	15,971	20,433
	Property, Plant and Equipment	0.6	0.6	0.6	0.6	0.5	0.5
	Other assets	5,492	5,438	5,187	5,167	5,110	1,225
	Total Assets	18,718	19,500	20,106	20,818	21,081	21,659
	Currentliabilities	7,608	8,709	9,914	11,083	11,791	12,486
	Non-currentliabilities	3,167	3,119	3,100	3,050	2,970	2,951
	Total Liabilities	10,775	11,827	13,014	14,133	14,761	15,437
	Share capital	4,384	4,384	4,384	4,384	4,384	4,384
	Capital reserve	59	59	59	59	59	59
	Retained earnings	3,121	2,814	2,254	1,874	1,518	1,431
	Other equity	379	416	395	368	359	347
	Total Equity	7,943	7,673	7,092	6,685	6,320	6,222

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Operation Summary

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Commercial Real Estate

Finished Residence Ongoing Construction In Preparation

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Commercial Real Estate

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KeeTai Zhongxiao Base Area：448.31 ping Building Plan：37stories above ground and 6 stories basement Location：No. 80, Sec. 1, Zhongxiao W. Rd., Zhongzheng Dist., Taipei City 100, Taiwan (R.O.C.)

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Finished Residence

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KeeTai Taida Base Area：533 ping Building Plan：19stories above ground and 6 stories basement Location：No. 309~319, Sec. 3, Roosevelt Rd., Da’an Dist., Taipei City 106, Taiwan (R.O.C.)

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Finished Residence

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KeeTai Shimao Base Area：210.24 ping Building Plan：11stories above ground and 2 stories basement Location：Ln. 284, Wuxing St., Xinyi Dist., Taipei City 110, Taiwan (R.O.C.)

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Finished Residence

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KeeTai Earl Base Area：3,219.78ping Building Plan：Shuangpin Building and Elevator building Location：Ln. 217, Sec. 3, Xiwan Rd., Xizhi Dist., New Taipei City 221, Taiwan (R.O.C.)

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Ongoing Construction

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KeeTai Jianzhong Base Area：206.3 ping

Building Plan：9stories above ground and 2 stories basement Location：Next To No. 260, Juguang Rd., Wanhua Dist., Taipei City 108, Taiwan (R.O.C.)

Star Date：May 2020

Estimated Completion Date：February 2023 Latest Progress：Usage License Application

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Ongoing Construction

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KeeTai Huang River

Base Area：191.18 ping

Building Plan：12stories above ground and 2 stories basement Location：Next To Jianmin Park ,Opposite To No. 23, Ln. 16, Wenlin Rd., Shilin Dist., Taipei City 111, Taiwan (R.O.C.) Star Date：June 2021

Estimated Completion Date：December 2023 Latest Progress：Ground structure engineering

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Ongoing Construction

KeeTai Daan

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Base Area：149.13 ping

Building Plan：8 stories above ground and 2 stories basement

Location：Next To No. 47, Ln. 304, Sec. 1, Jianguo S. Rd., Da’an Dist., Taipei City 106 , Taiwan (R.O.C.) Star Date：May 2022

Estimated Completion Date：October 2024 Latest Progress：layout approve

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Ongoing Construction

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KeeTai Bihu

Base Area：338.18 ping

Building Plan：15 stories above ground and 3 stories basement

Location：Next To No. 741, Sec. 1, Neihu Rd., Neihu Dist., Taipei City 114 , Taiwan (R.O.C.)

Star Date：May 2022

Estimated Completion Date：December 2024 Latest Progress：layout approve

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Ongoing Construction

KeeTai Dazhi

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Base Area：215.99 ping

Building Plan：12 stories above ground and 3 stories basement

Location：Aly. 3, Ln. 94, Dazhi St., Zhongshan Dist., Taipei City 104 , Taiwan (R.O.C.)

Star Date：August 2022 Estimated Completion Date：February 2026 Latest Progress：Engineering outsourcing

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In Preparation

KeeTai Jhengda

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Base Area：255.31 ping

Building Plan：22 stories above ground and 3 stories basement

Location：Sec. 3, Muzha Rd., Wenshan Dist., Taipei City 116 , Taiwan (R.O.C.)

Investment method：Build to order＆reconstruction of urban unsafe and old buildings

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Urban renewal in preparation

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Urban renewal

	name	area	place	Lot size(ping)	situation
	KT052	Neihu	Bihu section 3th subsection	956	Business plan approval
	KT060	Beitou	Daye section 4th subsection	1,007	Business plan application
	KT063	Xinyi	Wuxing section 3th subsection	2,278	Business planning
	KT066	Zhonghe	MRT section	1,212	Power change
	KC	Wunshan	Shijian section 2th subsection	1,255	Business plan exhibition

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Vision

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Richly cultivating Taipei City Accelerating the transformation

Contribute retail profit

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Residence
Increase operating income
Create long-term value
Operating
Commercial
Real estate
Upgrade Increase the Strengthen
Richly cultivating
intelligence and proportion of business
urban renewal
technology commercial real operating
projects
housing estates capabilities
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Q&A
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Thanks!
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