Laster Tech — Annual Report 2017

Aug 14, 2017

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www.lastertech.com

Disclaimer Statement

• The information contained in this document wasn’t verified by an independent third party. LASTER TECH CO., LTD. does not responsible for the accuracy, fairness, and completeness of any information contained in this document. You should not assume any information in this document to be accurate, fair, nor complete. The information or opinions contained in this document is provided on a specified date, which LASTER TECH CO., LTD. reserves all right to update.

• LASTER TECH CO., LTD. has no obligation to notify you of any updates after a specific date or any development of information in the documents. LASTER TECH CO., LTD. will not accept any liability for any loss resulting from the use of this document or its contents or for other reasons related to this document. This document does not constitute an offer or solicitation of an offer of purchase or acquisition to sell or issue shares of LASTER TECH CO., LTD. or any of its subsidiaries or related parties in any jurisdictions, does not serve as a part an offer or incentive, nor should be interpreted as such. Any part thereof or distribute the facts does not constitute the basis of any contract or commitment, and should not be relied upon in respect of any contract or commitment.

麗清科技股份有限公司

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Company Profile

• Since：1999, Aug-27th

• Capital：NTD 682.840 M

• CEO：Mei -Shiu , Liu

• Major Products﹕ LED Automotive Lighting 、LED General Lighting etc.

• HQ：New Taipei City, Taiwan. Employee: 51.

 Factories：Shanghai, China，Employee:900 DG, China，Employee:400 Others，Employee:14

• Date of Listing：2016/12/19

麗清科技股份有限公司

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History

2016年 IPO on TSE.

FY 2015 Obtain OLSA certificate and
sales order to manufacture BENZ auto
lighting.

FY 2012 Laster went pubic and registered in
        emerging market。

FY 2008 Laster (Shanghai) was established to develop
auto lighting LED module and became car factory supplier.

FY 2005 Laster Zhonghe factory was established to engage in
        manufacturing and sales of auto lighting.

2002年 1.Act as Osram’s LED series products agent.
       2.Laster (Donguan) was established to engage in LED
         package test.

FY 2001Act as Lumileds Lighting (Philips) TS chips Asia main agent.

FY 1999 Laster Tech Co, LTD. was established in 1999 and engaged in LED sales.

麗清科技股份有限公司

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Locations

Li San(Shanghai) International Trade Ltd.

Laster Tech Shanghai Branch Laster Tech Taiwan Headquarter Windlux International CO., LTD Laster Tech Dongguan Branch Laster Tech Shenzhen Branch Laster Tech Thailand Branch

All Subsidiary are 100% owned by Lastertech

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Products

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LED Automotive Lighting
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We provide service with Vertical integration

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LED Chip Products
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LED General Lighting
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Financials-Income Statements

Units： Thousand dollars ；％；NT

	2013	2014	2015	2016	2017/1H
Gross Sales	1,733,730	1,987,643	2,740,041	3,585,383	1,777,888
Cost of Goods Sold	1,387,653	1,545,225	2,287,898	2,871,556	1,429,106
Gross Profit	346,077	442,418	452,143	713,827	348,782
Gross Margin(%)	20.00%	22.30%	16.50%	19.91%	19.62%
Operating Expense	274,722	319,714	362,596	441,342	221,153
Operating Profit	71,355	122,704	89,547	272,485	127,629
Operating Margin(%)	4.10%	6.20%	3.30%	7.60%	7.18%
Non-Operating Income (Expense)	35,752	4,538	-5,025	-24,203	947
Income Tax	-33,728	-48,358	-14,180	39,125	-19,987
Net Income	73,379	78,884	70,342	209,157	108,589
EPS(NTD)	1.46	1.43	1.27	3.45	1.59

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Financials

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Uint ﹕ Million dollars,NT
4,000
The penetration
3,579
3,500 rate of LED lamps is
rising
3,000 2,740
2,500
1,988
1,733
2,000
1,215
3,383
1,028
1,500
2,551
1,000
1,768
1,165
500
822
552 LED Automotive Lighting
-
2011 2012 2013 2014 2015 2016
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麗清科技股份有限公司

Financials

Units： Million dollars: NT

Y2014-Y2017/1H Quarterly Revenue

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1,400
1,221
1,200
1018
1,000
824 [ 858 ]
781
752
800
604 685 661 613 677
546
600
415 [ 422 ]
400
200
-
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Revenue trend for led lightning parts

Units： Thousnd dollars: RMB

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400,000
350,000
300,000
250,000
2014
200,000
2015
2016
150,000
100,000
50,000
-
RCL DRL Fog Lights others
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LED Auto lighting Industry

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LED- LasterTech
Great Wall (Car maker)
Tier 1
LED Lamp- S.kioto Car maker
Module lamp car maker
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LED Auto lighting-Customers & Markets

Major customers

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1. S.Kioto
1
2. Great Wall
3
2
3. Varroc TYC Auto Lamps
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ODM/OEM Customers

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Y2016 China Vehicle Sales Market

Uint﹕ten thousand

No.	Manufacturers	Y2016	Y2015	Y2016	Y2015	Laster
		Sales	Sales	Shares	Shares	Supply
1	SAIC VOLKSWAGEN	200.02	180.56	7.14%	7.34%	Y
2	SAIC-GM	188.00	172.50	6.71%	7.01%	Y
3	SGMW	187.82	179.76	6.70%	7.31%	Y
4	FAW- VOLKSWAGEN	187.24	165.02	6.70%	6.71%	Y
5	CHANGAN	121.96	111.33	4.35%	4.53%	Y
6	Beijing Hyundai	114.20	106.28	4.07%	4.32%	N
7	Dong feng NISSAN	111.79	102.61	3.99%	4.17%	Y
8	Great Wall	96.89	75.32	3.46%	3.06%	Y
9	Ford	94.38	86.87	3.37%	3.53%	Y
10	GEELY AUTO	79.92	71.07	2.85%	2.06%	Y
Top 10 Total		1,382.22	1,251.32	49.32%	50.87%

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Y2017/1 China SUV Sales Market

Uint﹕ten thousand

Manufacturers	Brand	Models	Y2017/1	Y2016/12	Y2016	Laster Supply
Great Wall	HAVAL	H6	45,993	80,495	580,683	Y
GAC Motor	GAC	GS4	34,870	21,629	326,906
SAIC-GM	BUICK	ENVISION	30,658	31,749	275,383
SGMW	寶駿	寶駿560	27,007	32,008	321,555
CHANGAN	CHANGAN	CS75	26,492	20,156	209,353	Y
Great Wall	HAVAL	H2	24,917	35,284	196,926	Y
SAIC VOLKSWAGEN	VW	Tiguan	23,538	24,960	240,510
GEELY AUTO	GEELY	吉利博越	20,147	20,377	109,209
SAIC MOTOR	榮威	RX5	20,008	24,778	90,033	Y
CHANGAN	CHANGAN	CS35	18,444	11,565	172,712	Y

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LED Auto lighting products design flow

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 More brightness
 Shorter actuation
time
 Longer product life
Conceptual Design
Optical Design Mechanical Structure
Electrical Design
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LED Auto lighting Marketing Trend

LED car lights marketing penetration(2012-2020)

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Finally,all
traditional lamp
lights will be
replaced with
LED lamps
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．Source：SNE Research

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http://www.sneresearch.com/eng/service/report_show.php?mode=show&id=838

Vision

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Photo link from

http://www.philips.co.uk/c/car-lamps/14238/cat/

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Vision

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Photo link from http://www.philips.co.uk/c/car-lamps/14238/cat/

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Marketing Trend: Penetration

Exterior parts will be equipped for led lights

Helogen & HID

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LED head & DRL LED rear light LED brake light
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LED lamp module ASP will rasing on each car

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R&D Core Values

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機構
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 Integration design service with Optics,mechanism,heat dissipation,electronic

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電子
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• Customized

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• Comply with regulations

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核心價值
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光學
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散熱
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Vision- LED Head Lamp

Advantage

 Energy &Power saving

• Long Life

• Brightness brighter

• Start reaction fast

• Smaller size with flexible design

• Color temperature close to sunlight

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Successful cases

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2014 Lacrosse RCL

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Excelle 2008 RCL

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GM
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GL8 RCL
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GM Lacrosse 2009 RCL

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Successful cases

GREAT WALL Haval H2 FP/FT DRL

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Volkswagen

2012 Passat DRL

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Haval H6 DRL

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2016 Magotan RCL

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Successful cases

HONDA

Vezel RCL

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TOYOTA

Corolla HEV DRL

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Chang'an CS75 RCL HID

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Qoros

CS75 RCL HID

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Successful cases

Jaguar XF Headlamp

Mercedes Benz ClassA RCL

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Thank you Q & A

www.lastertech.com

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