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KYEC Interim / Quarterly Report 2023

Nov 24, 2023

52090_rns_2023-11-24_1b2a6586-4f83-4d18-94d7-389b3c4e9b47.pdf

Interim / Quarterly Report

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京元電子股份有限公司 King Yuan Electronics Co., Ltd

Q3’23 Operation Results

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Safe Harbor Notice

 This presentation contains certain forward-looking statements. These forward-looking statements may be identified by words such as ‘believes,’ ‘expects,’ ‘anticipates,’ ‘projects,’ ‘intends,’ ‘should,’ ‘seeks,’ ‘estimates,’ ‘future’ or similar expressions or by discussion of, among other things, strategy, goals, plans or intentions. These statements include financial projections and estimates and their underlying assumptions, statements regarding plans, objectives and expectations with respect to future operations, products and services, and statements regarding future performance. Actual results may differ materially in the future from those reflected in forward-looking statements contained in this document, due to various factors.

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Consolidated Operating Results Summary

(NT $ Millions)
Net Revenue
Profit Attributable to the Company
EPS Attributable to the Company-
Diluted (NT$)		 8,593.7
1,539.0
1.25
2,290.5
1,962.7
4,338.5
35.6%
50.5%
17.0%
Q3'23		 8,167.3
9,020.3
1,543.1
1,497.1
1.26
1.21
Q2'23
Q3'22
Depreciation & Amortization
CAPEX
EBITDA(1)		 2,266.5
2,318.1
2,364.1
2,266.7
4,006.8
4,454.3
Gross Margin
EBITDA Margin
Returen on Equity(%)(2)		 33.1%
34.5%
49.1%
49.4%
16.9%
17.7%

Note ： (1) EBITDA = Operating Income + Depreciation & Amortization; (2) Annualized return on equity to the Company for the quarter

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Consolidated Statements of Comprehensive Income

(NT $ Millions)
Net Revenue
Gross Profit
Gross Margin
Operating Expenses
Operating Profit
Operating Profit Margin
Non-operating Income (Expenses)
Profit Attributable to the Company
EPS Attributable to the Company- Basic (NT$)
Weighted Average Shares Outstanding
(in thousands)- Basic
EPS Attributable to the Company - Diluted (NT$)
Weighted Average Shares Outstanding
(in thousands)- Diluted		 Q3'23 8,167.3
2,701.4
33.1%
-961.1
1,740.3
21.3%
8.3
1,543.1
1.26
1,222,745
1.26
1,227,763
Q2'23		 5.2%
13.3%
2.5ppts
-5.5%
17.7%
2.5ppts
-391.6%
-0.3%
0.0%
0.0%
-0.8%
0.1%
QoQ		 9,020.3
-4.7%
3,110.3
-1.6%
34.5%
1.1ppts
-974.1
-4.1%
2,136.2
-4.1%
23.7%
0.1ppts
-156.4
84.5%
1,497.1
2.8%
1.22
3.3%
1,222,745
0.0%
1.21
3.3%
1,241,655
-1.0%
Q3'22
YoY
8,593.7
3,061.9
35.6%
-1,013.8
2,048.1
23.8%
-24.2
1,539.0
1.26
1,222,745
1.25
1,228,725

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Q3’23 Revenue Breakdown By Process (unaudited)

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By Process
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Final Test
45.3%
Burn-In
2.3%
Assembly
16.1%
Others
Wafer 3.6%
Probe
32.7%
Wafer Probe
Final Test
6,000 QoQ 0.7% QoQ 3.6%
6,000
4,000
4,000
2,000 2,000
0 0
Q2'23 Q3'23 Q2'23 Q3'23
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(NT$ Millions)

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Others
1,000 QoQ 41.0%
500
0
Q2'23 Q3'23
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Assembly Burn-In
3,000 QoQ 13.0% 1,000 QoQ 11.5%
2,000
500
1,000
0 0
Q2'23 Q3'23 Q2'23 Q3'23
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Q3’23 Revenue Breakdown By Applications (unaudited)

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By Applications
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Data Processing
19.5%
Consumer
Industrial
35.2%
3.9%
Others
1.3%
Automotive
11.0%
Communication
29.1%
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(NT$ Millions)

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Others
QoQ 315.8%
150
100
50
0
Q2'23 Q3'23
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Consumer Communication Automotive Data Processing Industrial
6,000 QoQ 1.1% 6,000 QoQ -2.3% 2,000 QoQ 4.9% 2,000 QoQ 24.2% 2,000 QoQ -0.6%
5,000 5,000
4,000 4,000 1,500 1,500 1,500
3,000 3,000 1,000 1,000 1,000
2,000 2,000
1,000 1,000 500 500 500
0 0 0 0
Q2'23 Q3'23 Q2'23 Q3'23 Q2'23 Q3'23 Q2'23 Q3'23 0
Q2'23 Q3'23
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Consolidated Statements of Financial Position & Key Indices

Selected Items from Consolided Statements of Financial Position

(NT $ Millions)
Current Assets
Non-current Assets
Total Assets
Current Liabilitiess
Non-current Liabilities
Total Liabilities
Total Equity
Total Equity and Liabilities
Key Indices
A/R Turnover Days		 Amount
%
21,051.5
28.6%
52,433.8
71.4%
73,485.3
100.0%
7,760.4
10.5%
27,327.6
37.2%
35,088.0
47.7%
38,397.3
52.3%
73,485.3
100.0%
Q3'23
79		 Amount
%
Amount
%
19,711.7
27.5%
23,193.0
30.8%
51,953.8
72.5%
52,044.0
69.2%
71,665.5
100.0%
75,237.0
100.0%
12,199.5
17.0%
11,188.0
14.9%
23,316.3
32.6%
28,815.6
38.3%
35,515.8
49.6%
40,003.6
53.2%
36,149.7
50.4%
35,233.4
46.8%
71,665.5
100.0%
75,237.0
100.0%
Q2'23
Q3'22
78
74

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Consolidated Statement of Cash Flows

(NT $ Millions)
Cash and Cash Equivalents at Beginning of Period
Net Cash Generated from (used in) Operating
Activities
Net Cash Generated from (used in) Investing
Activities
Net Cash Generated from (used in) Financing
Activities
Effect of Exchange Rate Change on Cash
Cash and Cash Equivalents at End of Period
Free Cash Flow		 Q3'23 Q2'23
Q3'22
9,849.0
4,130.1
-1,958.6
-1,156.6
12.2
10,876.1
-2,528.2		 12,357.8
10,028.5
2,698.4
5,153.2
-2,208.4
-2,209.4
-3,018.8
-321.5
20.0
8.6
9,849.0
12,659.4
1,322.9
-2,105.9

Note:

Free Cash Flow =

Operating Income + Depreciation&Amorization + Interest income – CapEx – Non-controlling interests – Interest fee– Tax expense - Cash dividends

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Q3’ 23 Capital Expenditures (unaudited)

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CapEx
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Q3’23 CapEx Breakdown
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(NT$ Millions)
16,000
13,963.1
14,000
10,391.6
10,935.0
12,000
10,000
8,000
6,000
4,000 2,364.1
1,692.7
2,000
0
2020 2021 2022 Q2'23 Q3'23
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Assembly
2.6%
Burn-In
3.2%
Final Test
Facility
54.3%
16.8%
Others
5.2%
Wafer Probe
17.9%
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Company website

http://www.kyec.com.tw

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