LOTES — Investor Presentation 2019

Nov 20, 2019

Always
Connecting

嘉澤端子工業股份有限公司

2019.11.27
1

Notes:

議程

Agenda

公司簡介
營運概況
財務概況
問答交流
Company Profile
Business Outlook
Financials at Glance
Q & A
2

公司簡介

Company profile

3

關於 LOTES

About LOTES

LOTES為一專業連接器／連接線製造商。依Bishop統計在電腦暨週邊連接器廠商中全球排名第六，不分行業別排名全球排名第三十。
全球前三大中央處理器插座供應商，市佔超過25％
全製程整合，包括產品設計、模治具及自動化設備開發、射出成型、金屬沖壓、電鍍、組裝等
LOTES在全球擁有超過3,200件連接器／連接線專利
LOTES信賴性實驗室已取得 ISO 17025 實驗室認證，可出具行業標準報告，亦可依客戶規範進行測試。
已取得 ISO 9001, IATF 16949, ISO 13485, AS 9100, ISO 14001, OHSAS 18001, QC 080000 及 ISO 14064等品質系統認證
LOTES specializes in the design and manufacture of inter-connection solutions including connectors and cables. According to Bishop & associate, LOTES rank no.6 in computer and peripherals and no.30 worldwide.
Top 3 officially qualified CPU sockets supplier in the world with an aggregate market share of over 25%.
Fully integrated processes in house including design, tooling, molding, stamping, electro-plating and automation assembly.
LOTES owns over 3200 patents applied worldwide, top 2 among Taiwan connector makers.
With ISO17025 certification, LOTES reliability test lab is capable of providing industry standard test reports and also meeting customers’ test requirements.
Certified with ISO 9001, IATF 16949, ISO 13485, AS 9100, ISO 14001, OHSAS 18001, QC 080000, and ISO 14064.
4

Geographic profile of LOTES 全球佈局

Manufacturing Sites

Sales / Eng support

Stuttgart, Germany
Suzhou, China
Beaverton, OR
Houston, TX
LINTES Taipei
San Jose, CA
Guangzhou, China
Keelung, Taiwan (HQ)
Singapore
斯圖加特
蘇州
奧瑞岡
休士頓
聖荷西
廣州
嘉澤 ＆ 嘉基
新加坡
工廠
服務據點
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5

Geographic profile in China

Suzhou蘇州
Established: 2004
Employees: 1200
Function: Product Design, Tooling, Molding, Stamping, Eletro-Plating and Assembly

LINTES中和
Established in 2011
Employees : 400
Products: Thunderbolt, Type C, High Speed Cable, Active Optical Cable
Hangnan湖南
Established: 2010
Employees : 1000
Function: Tooling Center, Cable Assembly

Established: 1993
Employees : 6000
Function: R&D, Tooling, Molding, Stamping, Electro-Plating and Assembly
Guangzhou廣州

Established: 1986
Employees : 100
Function: R&D, Sales, Finance
LOTES基隆

6

Zhongshan 中山廠

New plant in Zhongshan: 140,000 sqm
No CPU socket and LM parts move until at least Phase 3 is complete
7

LOTES’ Core Competence 核心競爭力

Stamping Die
沖壓模具
Injection Mold
塑膠模具
100% of design and fabrication in house
100% 自行設計及製造
Assembly Jigs
組裝治具

Automation Machines
自動機

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AOC 主動式光纖
LINTES’ Competiveness 嘉基核心競爭力

High Speed Socket Design Capability
高速連接器設計
Precision Micro Lens design capability
高精度光學鏡片設計
High Speed Cable高速線纜
(Optical / Electrical / Active / Passive)

Precision Die/Wire Bond Capability
高精密固晶打線製程

Electrical/Optical Cable HVM
電子／光纖線量產能力

ACC 主動式銅線
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9

Notes:

經營概況

Business overview

10

Sales Revenue 營收走勢

Million USD

Chart

Category	Million USD
2006	55.0
2007	85.0
2008	103.0
2009	132.0
2010	228.0
2011	263.0
2012	288.0
2013	268.0
2014	276.0
2015	265.0
2016	284.0
2017	340.0
2018	428.0
-Strategic customers start to contribute
Laptop CPU on board started

New product launches
-Server SKT R
-Desktop SKT H
-Laptop SKT G

New product launches
-Mechanical parts for Purley
-LINTES TBT3 cable series
Gain market share from competitors

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LOTES

Financial Data

12

Income Statement 損益表

Unit: million NTD
| | 2014 | 2015 | 2016 | 2017 | 2018 | 2019.1-9 |
| --- | --- | --- | --- | --- | --- | --- |
| 營業收入 | 8,304 | 8,197 | 8,863 | 10,482 | 13,311 | 11,017 |
| 營業毛利 | 2,834 | 2,765 | 2,817 | 3,390 | 4,348 | 3,826 |
| 營業費用 | 1,730 | 1,985 | 2,090 | 2,170 | 2,366 | 1,976 |
| 營業淨利 | 1,104 | 780 | 728 | 1,220 | 1,982 | 1,849 |
| 本期淨利 | 1,078 | 796 | 690 | 956 | 1,608 | 1,473 |
| 每股盈餘(NT$) | 11.53 | 8.52 | 7.38 | 10.23 | 17.21 | 14.28 |
| 每股股息 (NT$) | 5.5 | 4.5 | 4 | 5.5 | 8.7 | - |
| 配息率(%) | 47.70% | 52.82% | 54.20% | 53.76% | 50.55% | - |
| | | | | | | |
| 毛利率(%) | 34.13% | 33.73% | 31.79% | 32.34% | 32.67% | 34.73% |
| 營業淨益率(%) | 13.30% | 9.52% | 8.21% | 11.63% | 14.89% | 16.79% |
| 淨益率(%) | 12.98% | 9.71% | 7.79% | 9.12% | 12.08% | 13.37% |
| EBITDA(NT$/Share) | 17.84 | 14.99 | 13.55 | 19.94 | 31.02 | - |
| 股東權益報酬率(%) | 14.87% | 10.00% | 8.67% | 11.54% | 16.92% | - |
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Balance Sheet 資產負債表

Unit: million NTD
| | 2014 | 2015 | 2016 | 2017 | 2018 | 2019.09.30 |
| --- | --- | --- | --- | --- | --- | --- |
| 資產總計 | 10,500 | 10,857 | 10,478 | 11,753 | 13,790 | 15,675 |
| 現金 | 1,396 | 2,041 | 1,465 | 1,319 | 1,448 | 2,338 |
| 應收帳款 | 3,015 | 3,263 | 3,736 | 4,293 | 5,291 | 6,044 |
| 存貨 | 1,192 | 1,277 | 1,557 | 1,790 | 2,228 | 2,021 |
| 不動產、廠房及設備 | 2,272 | 2,193 | 2,528 | 2,875 | 3,350 | 3,505 |
| 負債總計 | 2,664 | 2,769 | 2,503 | 3,321 | 3,918 | 4,056 |
| 短期借款 | 591 | 416 | 108 | 600 | 919 | 286 |
| 應付帳款 | 1,213 | 1,352 | 1,447 | 1,701 | 1,743 | 1,881 |
| 權益總計 | 7,776 | 8,039 | 7,897 | 8,285 | 9,506 | 11,213 |
| 普通股股本 | 935 | 935 | 935 | 935 | 935 | 1,035 |
| 資本公積 | 2,362 | 2,366 | 2,383 | 2,410 | 2,466 | 3,766 |
| 保留盈餘 | 4,060 | 4,346 | 4,616 | 5,196 | 6,296 | 6,869 |
| | | | | | | |
| 流動比率(%) | 297.40% | 281.06% | 287.80% | 239.92% | 246.79% | 321.53% |
| 負債比率(%) | 25.36% | 25.50% | 23.38% | 27.91% | 28.41% | 25.88% |
| 每股淨值 | 83 | 86 | 84 | 89 | 102 | 108 |
| 應收帳款周轉天數 | 138 | 140 | 144 | 140 | 132 | - |
| 存貨周轉天數 | 84 | 91 | 97 | 99 | 93 | - |
14

Consolidated Cash Flows Statement 現金流量表

Unit: million NTD
| (NT$ M) | 2016 | 2017 | 2018 | 2019.09.30 |
| --- | --- | --- | --- | --- |
| 營業活動之現金流入 | 879 | 1,026 | 1,508 | 2,456 |
| 投資活動之現金流入 | (390) | (1,137) | (1,419) | (1,083) |
| 籌資活動之現金流入 | (637) | 186 | 96 | (355) |
| 匯率變動對現金及約當現金之影響數 | (428) | (221) | (55) | (126) |
| 本期現金及約當現金之增加數 | (576) | (146) | 129 | 890 |
| 期末現金及約當現金餘額 | 1,465 | 1,319 | 1,448 | 2,338 |
| | | | | |
| 註: | 2016 | 2017 | 2018 | 2019.09.30 |
| 資本支出 | 527 | 1,045 | 1,308 | 937 |
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Q&A
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