KYE — Interim / Quarterly Report 2021

Nov 18, 2021

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110 年昆盈公司營運概況報告 KYE Review 2021

財會處副總高安民 Kevin Kao / Finance VP

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110.11.18. Nov. 18, 2021

簡報大綱 Outline

 公司概況 Company Overview

• 財務概況 Financial Overview

• 合併綜合損益表 Consolidated P/L for Q3 2020

• 合併資產負債 Consolidated B/S for Q3 2020

• 財務指標 Financial Index

• 營運概況 Business Operation

• 主要產品與應用 Main Products & Application

• 重啟成長 Resurgence to Growth

• 競爭優劣勢與機會威脅分析 SWOT Analysis

• Q&A

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公司概況 Company Overview

• 營運總部 Headquarter : 台灣新北市 New Taipei City, Taiwan, R,O.C.

• 成立時間 Founded : 11/3/1983 November 3, 1983

• 證交所上市時間 TSE Listing ( 代號 2365) : 11/3/1997 November 3, 1997 (Code 2365)

• 流通在外股本 Capital outstanding (Nov. 3, 2021) ： 新台幣 22.15 億 NT$2.215 billion

• 股東結構 Major shareholders (Nov. 15, 2021): 董監事 Board of Directors ( 8.2% )

• 外資 Foreign Institutional Investors ( 6.4% ) ;

• 行銷 90 國累積銷售超過 10 億台 Genius 產品 Sells over 90 countries with 1 Bn+ Genius products sold

• 2021 Q1-Q3 營收 Revenues : 新台幣 10.1 億 NT$1.01 bn ( 年減 yoy -15%)

1B+

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90+

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Taiwan Public Trading Company TSC2365 – Nov 1997

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公司概況 Company Overview

 核心技術 Core technology

輸入裝置 Input Device : 滑鼠 Mice, 鍵盤 K/B, 手寫數位板 Tablet (Digitizer), 電容筆 Pen , 讀卡機 (Card Reader)

影像 Image : 網路相機及相機模組 Web Cam, Cam Module, 行車記錄器 DVR, 聲音輸出 Acoustic products : 喇叭 Speakers, 耳機麥克風 Headsets/Headphones

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公司概況 Company Overview

Genius 產品及技術發展沿革隨時間演化 Chronological growth of Genius product & technology categories over the years 至今滿足當前智慧時代的需求 And these product categories evolves over the years and have grown to their latest forms feeding today’s smart generation needs  速度 Speed  Expressive with Identity  方便 Convenience

• 效能 Efficiencies  Apps centric

 好用 Ease-to-Use

• 智能 Smart

 Mobile-friendly

 高品質 High quality

Input Multimedia Mobility devices peripherals peripherals

Smart-enabled peripherals

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Wired

Wireless

Wired & Wireless Internet

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 工廠 Factory : 中國廣東東莞 Dong Guan Guang Dong , China

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合併綜合損益表 Consolidated P/L for Q3 2021

新台幣百萬元 in millions of NT$

項目Items	2021Q3	2021Q3	2020Q3	2020Q3	YOY%	QOQ%	2021 Q1-Q3	2021 Q1-Q3	YOY%
營業收入Net Sales	337	100%	526	100%	(35.9%)	42.6%	1,005	100%	(14.9%)
營業成本COGS	233	69.1%	353	67.1%	(34.0%)	7.6%	758	75.4%	(4.7%)
營業毛利Gross Profit	104	30.9%	173	32.9%	(39.7%)	421%	247	24.6%	(36.0%)
營業費用 Operating Expense	70	20.9%	85	16.2%	(17.6%)	5.0%	205	20.4%	(21.1%)
營業利益 Operating Income	34	10.1%	88	16.7%	(61.2%)	172%	42	4.2%	(66.8%)
營業外收支 Non-Operating	(0)	(0.0%)	(1)	(0.2%)	120%	(95%)	10	1.0%	(2.2%)
稅前淨利 Income before Tax	34	10.1%	87	16.5%	(60.6%)	180%	52	5.2%	(61.9%)
稅後淨利 Net Income	25	7.5%	74	14.2%	(65.9%)	165%	37	3.7%	(66.6%)
每股淨利 EPS (After-tax)*	0.11		0.33				0.17

Note* ： EPS are based on the weighted average shares outstanding of 221,686K shares in Q3 2021& 223,615K shares in Q1 to Q3 . 每股盈餘係以 2021 前三季加權平均股本 $22.36** 億計算

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季營收走勢 Quarterly Revenues Trend

新台幣千元 in thousand NT$

600,000 NT$仟元

季營收

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500,000
400,000
300,000 Q1
Q2
200,000
Q3
100,000
Q4
-
2018 2019 2020 2021
營收 Q1 Q2 Q3 Q4
2018
430,176 528,707 521,295 539,602
2019
351,485 370,416 451,959 431,619
2020
335,058 320,868 525,725 471,618
2021 -7-
431,782 236,360 337,042
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季毛利率趨勢 Quarterly Gross Margin

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40%
營運概況(毛利率)
毛利率
35%
30%
25% Q1
Q2
20%
Q3
Q4
15%
10%
2018 2019 2020 2021
毛利率 Q1 Q2 Q3 Q4
2018 19.71% 21.27% 23.58% 23.75%
2019 28.23% 29.84% 27.53% 28.02%
2020 30.97% 34.12% 32.90% 27.42%
2021 28.45% 8.47% 30.94%
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季營業利益趨勢 Quarterly Operating Profit

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100,000 新台幣千元 in thousand NT$
NT$ 仟元 營業淨利
80,000
60,000
40,000
Q1
20,000 Q2
Q3
0
Q4
2018 2019 2020 2021
-20,000
-40,000
營業淨利 Q1 Q2 Q3 Q4
2018 (38,678) (10,886) 8,673 (429)
2019 6,751 9,694 15,976 20,860
2020 10,417 28,193 87,656 35,529
2021 54,839 (46,928) 33,996
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季稅後淨利趨勢 Quarterly Net Income after Tax

新台幣千元 in thousand NT$

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140,000
稅後淨利
NT$ 仟元
120,000
100,000
80,000
60,000
Q1
40,000
Q2
20,000
Q3
0
Q4
-20,000 2018 2019 2020 2021
-40,000
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稅後淨利	Q1	Q2	Q3	Q4
2018	66,767	21,582	17,120	(10,310)
2019	7,141	11,605	11,346	124,572
2020	16,912	21,221	74,510	34,262
2021	50,516	(38,675)	25,249

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合併資產負債 Consolidated B/S for Q3 2021

項目items& 比較Comparison	2021 Q3	2021 Q3	2020 Q4	2020 Q4	~~in millions of NT$~~ 2020 Q3	~~in millions of NT$~~ 2020 Q3
現金/約當現金Cash & Equiv.	1,005	28.2%	1,404	38.0%	1,441	37.9%
金融資產Financial Assets	229	6.4%	245	6.6%	322	8.5%
應收帳款/票據Net AR	125	3.5%	126	3.4%	187	4.9%
存貨Inventories	416	11.7%	264	7.2%	212	5.6%
非流動資產Non current Asset	1,902	53.3%	1,750	47.3%	1,818	47.7%
長短期銀行借款Bank Loan	346	9.7%	238	6.4%	238	6.3%
應付帳款及票據Net AP	78	2.2%	146	3.9%	205	5.4%
股東權益Equity	2,880	80.8%	2,969	80.3%	3,025	79.4%
每股淨值NAV/share	NT$12.8		NT$13.2		NT$13.5
資產總計Total Assets	3,566	100% ~~---11---~~	3,698	100%	3,807	100%

財務指標 Financial Index

• 需改善的營運動能及獲利能力 (Need improving momentum and profitability)

• 低負債比率及提升短期流動能力 (Low Debt ratio and Solid Short-term Liquidity)

• 高資金水位 , 每股現金約達 $5(Adequate Cash balance>NT$1.0Bn, $5/outstanding shares)

• 需改善的營運週期 134 天 (Longer Cash Conversion Cycle about 134 days)

項目Items	Financial Ratio/Year	18	19	20	21 Q3
資本結構Capital Structure	負債比率Debts to Assets ratio(%)	32.1	14.7	18.8	18.3
流動性分析 Liquidity Analysis	流動比率Current ratio(%)	180.6	577.1	524.5	668.4
	速動比率Quick ratio(%)	162.1	506.2	443.0	473.3
經營效能 Operatingperformance	帳款回收天數AR collection days	39.0	34.0	25.0	29.0
	銷貨天數Inventory Turnover days	65.0	64.0	78.0	105.0
獲利能力 Profitability	資產報酬率ROA(%)	2.15%	3.81%	3.97%	1.11%
	股東權益報酬率ROE(%)	2.90%	4.76%	4.72%	1.26%
	每股淨利EPS(nt$/share)	0.40	0.65	0.64	0.17
現金流量	現金流量比率Cash Flows Ratio	22.2%	70.9%	42.8%	-52.1%

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- 營運概況 生產面 Business Model-Production

產品別Products	營運模式Business
滑鼠Mouse	自製Self-manufacturing
鍵盤K/B	自研+外購Self-design & Out-sourcing
喇叭Speaker	自製外購並行Self-manufacturing & Out-sourcing
耳機Headset	自研+外購Self-design & Out-sourcing
遊戲類週邊Gaming Products	自製外購並行Self-manufacturing & Out-sourcing
行動裝置週邊Mobility	自製外購並行Self-manufacturing & Out-sourcing
影像產品Image Products	自製Self-manufacturing
記憶體讀卡機Card Reader	自製Self-manufacturing

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區域銷售分佈 Regional Sales Allocation 2021 Q3

	% of Sales
俄羅斯與獨立國協 Russia & CIS	5.0%
歐洲Europe	17.0%
拉丁美洲 Latin America	35.6%
亞洲Asia	39.7%
中東非M.E.A	2.7%

2021 Q3 營收合計新台幣 3.37 億 (Total Revenue : NT$ 337MN)

M.E.A., 2.7% Russia & CIS, 5.0% Asia, 39.7% Europe, 17.0%

Latin America, 35.6%

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區域銷售分佈 Regional Sales Allocation 2021 Q1-Q3

	% of Sales
俄羅斯與獨立國協 Russia & CIS	7.6%
歐洲Europe	16.6%
拉丁美洲 Latin America	35.1%
亞洲Asia	34.8%
中東非M.E.A	5.9%

Asia, 34.8%

2021 Q1-Q3 營收合計新台幣 10.1 億 (Total Revenue : NT$ 1.01 BN)

M.E.A., Russia & 5.9% CIS, 7.6% Europe, 16.6%

Latin America, 35.1%

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主要產品與應用 Main Products & Application Production Capability

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MICE
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Factories : plant A Production Space : 24,900 AUDIO ㎡ Yearly Capacity : 30 million pcs Yearly output value: 230 million USD Products Output Capacity Mice/K+M ： 5mn/m DV ： 12XLines 450k/m VIDEO Card Reader ： 2mn/m Digitizer ： 50k/m Robotic Vacuum : 10k/m Other product : 50k/m

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KEYBOARDS
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Factories : plant B Production Space : 45,000 ㎡ Yearly Capacity : 50 million pcs Yearly output value: 450 million USDTOUCH PEN

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GAMING
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 方便 Convenient

 好用 Easy-to-Use

 高品質 High Quality

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- 輸入裝置 生產力效能利器 Input Devices-Passion for Productivity

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Rechargeable Mouse Smart Keyboard Universal Touch Pen

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無線滑鼠 Wireless Mouse NX Series

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環保節能可充電滑鼠 ECO Mouse

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Genius rechargeable mice come with different sizes to fit nicely with to your hands.

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Micro Traveler 9000R

NX-9000BT

ECO-7015

ECO-8100

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環保節能可充電滑鼠 ECO Mouse

免換電池麻煩 No More Battery Replacement hassle Just when you need the battery replaced, you don’t have it, and you can’t buy it ! 延長電池壽命與安全設計 Extended Battery Life & Safety Design The choice of NiMH battery and special charging IC design is targeted for mobility use ! USB 方便使用與充電 Plug-n-Play with Plug-n-Charge Simply plug-in the USB dongle or power adapter to use or charge the wireless mouse !

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智能鍵盤 Smart Key Board

事半功倍 Type less but do more Save 50% or more on keyboard typing time with your common daily tasks

較實體更多擴充鍵 Has more keys than the keyboard shows Smart keys are uniquely set and assigned for each application

自動化 It’s all automatic

When switch from one app to another, the smart keys will automatically be re-mapped..

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視訊影像網路相機 Genius Webcam Series

遠距需求的熱銷產品 Hot selling webcam for remote working/education thru conference

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遊戲週邊 GX Gaming Series Products

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Scorpion M8-610 Scorpion M6-600 Scorpion M6-400

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Scorpion K8

Ammox X1-400

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Scorpion K220

Scorpion Spear Pro

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Scorpion Spear

Scorpion K215

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Mechanical-feeling with Floating Keycaps

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產品別銷售組合 Product Portfolio 2021 Q3

Mouse, 23.3%

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Image, 43.5%

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Mobility, 0.1%

Gaming, 4.8%

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Headset, 3.3%

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Keyboard, 16.7%

Speaker, 8.2%

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產品別銷售組合 Product Portfolio 2021 Q1-Q3

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Image, 35.7%
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Mobility, 0.3%
Gaming, 5.6%
Speaker, 8.5%
Headset, 4.5%
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Mouse, 27.5%
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Keyboard, 17.9%

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產品別銷售彙總 Sales by products 2021 Q1-Q3 遠距產品驅動成長 Remote products rebuild growth

	2021 Q3	2021 Q3	2021 Q1-Q3	2021 Q1-Q3
產品PRODUCTS	數量Units yoy	金額Revenues yoy	數量Units yoy	金額Revenues yoy
有線滑鼠Wired Mouse	-34.4%	-24.1%	-6.5%	-2.1%
無線滑鼠Wireless Mouse	-56.0%	-55.6%	-17.2%	-19.1%
有線鍵盤Wired KB	-32.7%	-31.1%	-17.7%	-18.7%
無線鍵盤Wireless KB	-59.2%	-58.4%	-10.6%	-12.7%
喇叭Speaker	-25.3%	-20.4%	23.3%	12.0%
耳機麥克風Headset	-60.9%	-56.9%	-5.6%	0.3%
遊戲類裝置Gaming	-53.7%	-45.8%	1.8%	1.5%
影像產品Image	-39.0%	-32.8%	-8.3%	-12.3%

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一 營收逐漸谷底回升 Recover to growth ( )

前二十五大客戶營收貢獻 80% Top 25 customers contributing80% revenues

• 歐洲 Europe

• 俄羅斯與獨立國協 Russia & CIS

• 西歐 Well-developing Europe

• 中歐 / 東歐 Central / Eastern Europe

• Asia Pacific & MEA

• 日本 Japan

• 菲律賓 Philippine

• 印尼 Indonesia

• 越南 Vietnam

 美洲 America

• 阿根廷 Argentina

• 哥倫比亞 Columbia

• 泰國 Thailand

• 中東 Middle East

• 南非 South Africa

• 智利 Chile

• 秘魯 Peru

• 厄瓜多與玻利維亞 Ecuador & Bolivia

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期盼重啟成長模式 Recover to growth ( 二 )

 成長策略 Growth Strategies

• 產品 Products

• 數位時代連結 Living in Digital Age

• 網路相機 Full High Difination Webcam

• 物超所值：方便、好用、高品質 Value for Money ： Convenient, Easy to Use, High Quality

• 節能充電式環保滑鼠 ECO mouse

• 智能鍵盤 Smart KB

• 行動劇院 Mobile Theater

• 專注品牌

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Focus on Genius/GX Gaming brand

• 藍芽喇叭與耳機 BT Speaker & Headset

• 遊戲週邊 Gaming Devices

• 手寫電容筆 Pen for Mobility Devices

• 組合式產品 K+M / Gaming Combo

• 靈活給力的行銷策略與資源 Marketing Funds Support

• 實虛通路並行

Real & e-commerce

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競爭優劣勢機會威脅分析 SWOT Analysis

競爭優勢 Strength

• 完整齊全產品線及搭售組合 Products Profolio and Combo Mix

• 新興市場品牌知名度、客戶及綿密銷售網

• Brand awareness, customer base & sales channel spread out

• emerging markets

• 堅強財務面及資金轉換能力

• Solid financial & cash conversion

競爭劣勢 Weakness

• 持續攀升的原物料 & 製造成本及匯率波動

• Climbing raw material and OH cost, volatile currency fluctuation

• 整體營運及產品銷售未達經濟規模

Still under economic business scale

• 多元化品牌產品管理模式複雜 Complicate business management

• 國際貨物運輸運籌鍊阻塞與高昂成本短期難解 Logistic & fly high cost problem will remian for a period of time.

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競爭優劣勢機會威脅分析 SWOT Analysis

機會 Oppertunity

• 總體經濟及社會環境改變使傳統電腦及週邊裝置的需求再次興盛

Resurgence of the needs for basic computing accessories and peripheral devices with changes in macro economic and social environment.

• 新冠疫情及高速網路引爆的遠距學習、工作、雲端商機 COVID-19 & High Speed Internet (5G, WiFi 6) fuels the needs for distance learning, remote working, cloud desktop and the likes.

• 智能裝置、應用程式及內容提供更佳的用戶體驗及更高生產力 Bridge people to smart devices, apps and content in faster ways to provide higher productivity and with better user experience!

威脅 Threats

• 中美貿易戰的全球衝擊 Trade Battle

• 產品屬成熟產業，無成長性 Mature industry, slow even no growth

• 仿冒品、白牌及當地品牌三重夾擊 Fake, naked, and local brand competition

• 全球通膨及貨幣政策緊縮的威脅 Global Inflation & monetary tightening

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