Macronix — Investor Presentation 2017

Sep 5, 2017

旺宏電子 2017 年第二季法人說明會

July 24, 2017

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免責聲明

本簡報與會議中之討論內容包含有關於旺宏電子(股)公司營運、財務狀況與對未來
預期之前瞻性描述，此前瞻性描述將受到已知與未知不確定因素與風險的影響，而造成
實際結果與前瞻性描述中預期或暗示的結果可能存在重大差異。

    前述之不確定性因素與風險包含但不限於競爭產品/價格競爭的影響、客戶對公司
產品設計之接受度、公司即時的引進新技術、公司對新產品的即時量產能力、整體半導
體產業供需的轉變、產能過剩、產能供給、終端市場的財務狀況及其他等等風險。
    本簡報與會議內容中之前瞻性描述乃反映目前本公司對整體營運之看法，旺宏電子
(股)免除日後更新、通知之責任。

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2017 年第二季營運概況

2017 第二季 2017 第二季 2017 第一季 ( 已計入 PSE) (未計 PSE ) ( 未計 PSE) 營收淨額 NT$ 6.6B NT$ 6.6B NT$ 6.6B 營業毛利率 34 % 35% 27 % 營業淨利率 9% 11% 6% 營業淨利 NT$ 616M NT$ 784M NT$ 203M

• 減資基準日 2017.06.29 ，減資後資本額為 NT$ 18,059M

• 彌補虧損減資後， 2017 上半年員工及董監酬勞 (PSE) NT$168M ，全數認 列於第二季

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2017 年第二季合併綜合損益比較表

單位：新台幣佰萬元(每股損益為元) 2017/Q2 2017/Q1 2016/Q2 營業收入淨額 6,563 6,610 5,181 營業毛利 2,216 1,815 707 營業毛利率 34% 27% 14% 營業費用 (1,631) (1,401) (1,553) 營業淨利 585 414 (846) 營業利益率 9% 6% (16%) 營業外收(支) 37 (210) 11 稅前淨利 622 204 (835) 所得稅費用(利益) 6 1 (144) 本期淨利(損) 616 203 (691) 其他綜合損益 107 19 (134) 本期綜合損益 723 222 (825) 淨利歸屬予 本公司業主 616 203 (689) 非控制權益 (0) (0) (2)	QoQ YoY Change Change (1%) 27% 22% 214% 7ppt 20ppt 16% 5% 41% - 3ppt 25ppt 205% - 329% - 204% - 461% - 226% - 204% -
基本每股盈餘* -- NT$ 0.35 0.12 (0.39)	192% -
EBITDA 1,171 761 (237) 流通在外加權平均股數 1,763 1,756 1,749

• 計算每股盈餘時，減資彌補虧損之影響已追溯調整

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2017Q2 年財務重要資訊

2017Q2 Sales = NTD 6,563M +27% YoY

營業收入
單位：新台幣佰萬元

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10,000
24,125M
8,000
6,000
4,000
2,000
0
16Q1 Q2 Q3 Q4 17Q1 17Q2
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營業毛利
單位：新台幣佰萬元
5,836M
2,000
1,000
0
16Q1 Q2 Q3 Q4 17Q1 17Q2
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2017Q2 年財務重要資訊

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2017Q2 2016Q2
營業毛利率 34% 14%
每股損益 NTD 0.35 (0.39)
每股損益
營業毛利率
( 追溯調整 )
GM% NTD (0.14)
40%
32% 34%
0.60
31%
0.35
27% 0.41
0.36
0.30
0.12
20%
15% 14%
0.00
16Q1 Q2 Q3 Q4 17Q1 Q2
(0.30)
(0.39)
0%
(0.60) (0.52)
16Q1 Q2 Q3 Q4 17Q1 Q2
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2017 年第二季合併簡明資產負債表 / 現金流量資訊

單位：新台幣佰萬元 ( 每股淨值為元 )

單位：新台幣佰萬元(每股淨值為元)
	2017/06/30	2017/03/31
現金及約當現金	5,406	6,062
存貨(淨額)	9,075	7,384
固定資產	15,204	15,574
總資產	36,980	35,851
短期應計息借款	7,822	4,119
長期應計息借款	1,215	6,058
總負債	17,591	17,243
股東權益	19,389	18,608
負債佔資產比率(%)	47.6%	48.1%
每股淨值(追溯調整)	10.75	10.31
	2017/Q2	2017/Q1
折舊&攤銷	492	499
資本支出	(122)	(563)
營業活動淨現金流入(出)	608	487

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2017 年第二季銷售額分析 - 產品別 ( 母公司 )

Unit: NTD Million

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8,000
6,000 11% 11%
QoQ YoY
11% Change Change
4,000 58% NAND +4% +25%
63%
NOR +9% +21%
66%
ROM -29% +103%
FBG +15% -13%
2,000
FBG (foundry business group)
23%
17%
10%
13%
8% 9%
0
2016Q2 2017Q1 2017Q2
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2017 年第二季銷售量分析 - 產品別 ( 母公司 )

Unit : Million

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800
4%
6%
600
QoQ YoY
Change Change
8%
NAND -37% -25%
400
94% NOR +6% +50%
92%
ROM -4% +107%
91%
200 FBG +27% -3%
Equivalent 8” WF base for FBG
(foundry business group)
1% 2% 2%
0
2016Q2 2017Q1 2017Q2
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營運現況 - ROM

Density shipment index: 2013Q1 =100

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1,064
517
478
365 374
352
285
267
168 [200]
149
115 126 118
100 102 93
82
0
13Q1 Q2 Q3 Q4 14Q1 Q2 Q3 Q4 15Q1 Q2 Q3 Q4 16Q1 Q2 Q3 Q4 17Q1 Q2
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800

400

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1,200

營運展望 - ROM

 ROM business

• ≥ 64Gb 容量產品佔 2017 第二季 ROM 營收 25%

• 銷售數量約略持平， Q2 營收較 Q1 減少主因產品銷售組合不同所致

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NTD % ≦ 4Gb 8Gb 16Gb 32Gb 64Gb ≧ 128Gb
100%
10%
18%
28%
15%
80%
44%
54%
25%
67%
60% 28%
51%
20%
40%
36% 13%
18%
12% 19%
21%
20% 7%
26% 7% 7%
21% 5% 21%
4%
10%
7% 6%
0%
16Q1 Q2 Q3 Q4 17Q1 Q2
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營運現況 - NOR Flash

Density shipment index: 2013Q1 =100

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200 190
182
180 179
171 169
161
151 151 150
134 135 134
128
125
119
113
100
100
0
13Q1 Q2 Q3 Q4 14Q1 Q2 Q3 Q4 15Q1 Q2 Q3 Q4 16Q1 Q2 Q3 Q4 17Q1 Q2
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營運展望 - NOR Flash

 NOR flash business

• ≤75nm 製程產品佔 2017 第二季 NOR 營收 50%

• NOR business 處於配銷模式

• 強勁需求來自於每個應用領域、產品容量

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≤ 55 nm
NOR (by tech & sales) ≤ 75 nm
NTD % ≧ 0.10μm
100% 1% 1% 1% 2% 2% 1% 3%
39%
80%
42% 46% 43% 46%
46% 49% 48% 49%
60%
40%
61%
58% 53% 50% 53% 55% 50% 53% 48%
20%
0%
16Q1 Q2 Q3 Q4 17Q1 Q2 2015 2016 2017 (E)
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NOR global market share
37% Macronix
Peer A
33%
Peer B
26%
22%
17%
4%
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08' 09' 10' 11' 12' 13' 14' 15' 16' 17Q1
Source: iHS, Macronix
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Speedy growth in automotive segment

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Revenue
2500
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H1
2011 2012 2013 2014 2015 2016 2017
(F)
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- 營運現況 2017 年第二季 NOR Flash 產品應用分析

2017 年第二季 NOR 營收分析

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Consumer,
29%
Comm, 32%
Computer,
22%
I.M.A., 7% Auto , 10%
Comm: including handsets
I (Industrial), M (Medical), A (Aero space-defense)
2017Q2 NOR Qty breakdown
Computer Consumer Communication Automotive
QTY. -9% QoQ +2% QoQ +15% QoQ -11% QoQ
(M ea)
+31% YoY +29% YoY +111% YoY +11% YoY
300 300 300 100
150 150 150 50
0 0 0 0
2017Q1 2017Q2 2017Q1 2017Q2 2017Q1 2017Q2 2017Q1 2017Q2
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* I (Industrial), M (Medical), A (Aero space-defense)
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營運現況與展望 - SLC NAND

 SLC NAND flash business

• 2016 年的 Design-wins ，致使 2017 年及未來營收與 市占率增加

• NAND 的銷售也處於配銷模式

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Quarterly design-win
case count of 36nm
400 362
320
300 280
227
200
123
100
49
0
2016Q1 Q2 Q3 Q4 2017Q1 Q2
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SLC NAND Flash equivalent density shipment

2017 年第二季 NAND 營收分析

Total density (Tb)

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300,000
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Density shipment index: 36 nm
2016Q1 =100
75 nm
Index
200,000
500
120,000 Consumer, Comm, 56%
100,000 35%
279 276
250 225 241 199 80,00060,000 100,000 Others, 9%
100 40,000
20,000
0 0 0
16Q1 Q2 Q3 Q4 17Q1 Q2
2015 2016 2017 (E)
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更新後 2017 年資本支出規劃

 謹慎的產能投資

• 產能仍處於滿載

• 本季董事會通過 17.85 億資本支出，預計 2017 年資本支出共計約 新台幣 40 億，將用於增加先進製程產能

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For more information regarding Macronix http://www.macronix.com

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