Macronix — Investor Presentation 2024

Aug 28, 2024

旺宏電子 2024 年第二季法人說明會

July 30, 2024

==> picture [286 x 152] intentionally omitted <==

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。

==> picture [666 x 37] intentionally omitted <==

----- Start of picture text -----

Copyright © Macronix International Co., Ltd. 1
----- End of picture text -----

2Q24 營運概況

2Q24 1Q24 2Q23 營收淨額 NT$ 6.5 NT$5.8 NT$ 7.4 (NT$ 十億 ) 營業毛利率 30.0% 19.8% 28.3% 營業淨利率 (7.9%) (22.6%) (2.2% )

==> picture [666 x 37] intentionally omitted <==

----- Start of picture text -----

Copyright © Macronix International Co., Ltd. 2
----- End of picture text -----

1H24 營運概況

1H24 1H23 營收淨額 NT$ 12.2 NT$ 14.5 (NT$ 十億 ) 營業毛利率 25.2% 26.8% 營業淨利率 (14.8% ) (4.2%)

==> picture [666 x 37] intentionally omitted <==

----- Start of picture text -----

Copyright © Macronix International Co., Ltd. 3
----- End of picture text -----

2Q24 合併綜合損益比較表

單位：新台幣佰萬元 (每股盈餘為元) 營業收入淨額 營業毛利 營業毛利率 營業費用 營業淨(損)利 營業淨利率 營業外收(支) 稅前淨(損)利 所得稅利益(費用) 本期淨(損)利	2Q24 1Q24 2Q23	QoQ YoY
	6,456 5,760 7,429 1,936 1,142 2,103 30.0% 19.8% 28.3% (2,448) (2,444) (2,269) (512) (1,302) (166) (7.9%) (22.6%) (2.2%) 198 105 249 (314) (1,196) 83 28 118 (12) (286) (1,079) 71	12% (13%) 69% (8%) 10.2ppt 1.7ppt 0% 8% (61%) 207% 14.7ppt (5.7ppt) (74%) (479%) (73%) (503%)
基本每股盈餘--NT$	(0.15) (0.58) 0.04
EBITDA EBITDA % 流通在外加權平均股數(佰萬股)	982 76 1,193 15% 1% 16% 1,854 1,854 1,854

==> picture [666 x 37] intentionally omitted <==

----- Start of picture text -----

Copyright © Macronix International Co., Ltd. 4
----- End of picture text -----

1H24 合併綜合損益比較表

單位：新台幣佰萬元 (每股盈餘為元) 營業收入淨額 營業毛利 營業毛利率 營業費用 營業淨(損)利 營業淨利率 營業外收(支) 稅前淨(損)利 所得稅利益(費用) 本期淨(損)利	1H24 1H23	YoY
	12,216 14,533 3,078 3,888 25.2% 26.8% (4,892) (4,494) (1,813) (606) (14.8%) (4.2%) 303 300 (1,511) (305) 146 21 (1,365) (284)	(16%) (21%) (1.6ppt) 9% 199% (10.62ppt) 395% 380%
基本每股(虧損)盈餘--NT$	(0.74) (0.15)
EBITDA EBITDA % 流通在外加權平均股數(佰萬股)	1,058 1,948 9% 13% 1,854 1,854

==> picture [666 x 37] intentionally omitted <==

----- Start of picture text -----

Copyright © Macronix International Co., Ltd. 5
----- End of picture text -----

營收及毛利率

==> picture [593 x 360] intentionally omitted <==

----- Start of picture text -----

2020 2021 2022 2023
39,801M 50,573M 43,487M 27,624M
Sales
NTD M Net Sales Gross Margin% Margin%
16,000 80%
14,974
14,545
12,000 11,427 11,598 11,340 11,471 60%
10,957
10,158
9,627
9,415 9,271
9,078
47% [48%] [48%]
8,000 44% 7,104 7,429 7,283 40%
43%
6,456
39%
5,808 5,760
35% [36%]
32% [34%] 34%
31%
30%
28%
4,000 25% 24% 20%
19% [20%]
0 0%
1Q20 2Q 3Q 4Q 1Q21 2Q 3Q 4Q 1Q22 2Q 3Q 4Q 1Q23 2Q 3Q 4Q 1Q24 2Q
----- End of picture text -----

==> picture [666 x 37] intentionally omitted <==

----- Start of picture text -----

Copyright © Macronix International Co., Ltd. 6
----- End of picture text -----

公司價值

	2Q24	2Q23
每股盈餘-- NT$	(0.15)	0.04
每股淨值-- NT$	24.89	26.70

每股盈餘每股淨值

==> picture [561 x 191] intentionally omitted <==

----- Start of picture text -----

NTD NTD
(0.92)
NT$ 1.8
30.0 cash dividend
NT$ 0.5
28.38
cash dividend
0.04 26.70
26.43 26.07 25.79
1Q23 2Q 3Q 4Q 1Q24 2Q
24.89
(0.19) (0.22) (0.15)
(0.54) (0.58)
24.0
1Q23 2Q 3Q 4Q 1Q24 2Q
----- End of picture text -----

==> picture [666 x 37] intentionally omitted <==

----- Start of picture text -----

Copyright © Macronix International Co., Ltd. 7
----- End of picture text -----

股東權益報酬率 (GAAP)

==> picture [552 x 174] intentionally omitted <==

----- Start of picture text -----

Annualized ROE - Reported Net Income / Sales
16%
13%
-11.0%
-6%
2017 2018 2019 2020 2021 2022 2023 2Q24
2017 2018 2019 2020 2021 2022 2023 2Q24
(LTM)
(LTM)
----- End of picture text -----

==> picture [308 x 195] intentionally omitted <==

----- Start of picture text -----

Sales / Total Assets
63%
184%
32%
2017 2018 2019 2020 2021 2022 2023 2Q24
(LTM)
----- End of picture text -----

Total Assets / Total Equity 168%

==> picture [238 x 29] intentionally omitted <==

----- Start of picture text -----

2017 2018 2019 2020 2021 2022 2023 2Q24
(LTM)
----- End of picture text -----

==> picture [666 x 37] intentionally omitted <==

----- Start of picture text -----

Copyright © Macronix International Co., Ltd. 8
----- End of picture text -----

2Q24 合併簡明資產負債表

單位：新台幣佰萬元 (每股淨值為元)	6/30/'24	3/31/'24	6/30/'23
現金及約當現金	11,213	10,719	15,885
存貨(淨額)	13,523	13,158	14,224
不動產、廠房及設備	41,762	41,802	40,186
總資產	78,702	77,876	81,783
短期應計息負債	3,016	3,263	5,429
長期應計息負債	19,251	17,724	11,841
總負債	32,555	30,071	32,290
負債佔資產比率(%)	41.4%	38.6%	39.5%
股東權益	46,147	47,804	49,493
每股淨值-- NT$	24.89	25.79	26.70

Note: 期末流通在外股數 ( 佰萬股 ) 1,854

==> picture [666 x 37] intentionally omitted <==

----- Start of picture text -----

Copyright © Macronix International Co., Ltd. 9
----- End of picture text -----

自由現金流量及資本支出

單位：新台幣佰萬元	2Q24	1Q24	2Q23
營業活動之淨現金流入	65	(1,255)	(506)
折舊 & 攤銷	1,210	1,199	1,044
投資活動之淨現金流入(出)	(1,001)	(1,511)	(1,746)
資本支出	(1,000)	(1,667)	(1,703)
籌資活動之淨現金流入(出)	1,464	1,501	3,167
現金及約當現金淨增加(減少)*	493	(1,186)	887
期末現金及約當現金餘額	11,213	10,719	15,885
自由現金流量**	(934)	(2,922)	(2,210)

* 現金淨變動包含匯率變動之影響數

• ** 自由現金流量 = 營業活動現金流量 - 資本支出

==> picture [666 x 37] intentionally omitted <==

----- Start of picture text -----

Copyright © Macronix International Co., Ltd. 10
----- End of picture text -----

- 第二季銷售額分析 產品別 ( 母公司 )

單位:新台幣佰萬元

==> picture [543 x 311] intentionally omitted <==

----- Start of picture text -----

8,000
9%
14%
12% QoQ YoY
46%
Change Change
4,000
63% NAND +31% +34%
61%
NOR +16% +16%
39%
ROM -15% -69%
18% 14%
FBG +17% +36%
6% 9% 9%
0
FBG (Foundry Business Group)
2Q23 1Q24 2Q24
----- End of picture text -----*

==> picture [666 x 37] intentionally omitted <==

----- Start of picture text -----

Copyright © Macronix International Co., Ltd. 11
----- End of picture text -----

營運現況 - ROM

 ROM Business

2024 年現有主機成為歷代最長壽產品

• 主機平台已過高峰， 2024 上半年推出較少款遊戲新作

==> picture [563 x 286] intentionally omitted <==

----- Start of picture text -----

Density shipment index: 1Q18 =100
400
348
309
259
245 [252] 247
236
228
222
212
196
185 187
200 177 179
163
142
137
124
113
100
94
75
67 64
58
0
1Q182Q 3Q 4Q1Q192Q 3Q 4Q1Q202Q 3Q 4Q1Q212Q 3Q 4Q1Q222Q 3Q 4Q1Q232Q 3Q 4Q1Q242Q
----- End of picture text -----

==> picture [666 x 37] intentionally omitted <==

----- Start of picture text -----

Copyright © Macronix International Co., Ltd. 12
----- End of picture text -----

營運現況 - NOR

 NOR Business

• 電腦相關、消費性電子及通訊相關之新應用帶動終端需求成長

• 訂單趨勢維持穩定並回升至 2022 年水準

==> picture [570 x 290] intentionally omitted <==

----- Start of picture text -----

Density shipment index: 1Q19 =100
≧75 nm
246
55 nm
228
206
193 192
200
173
153 [164 ] [155 ]
151 148
141 143
133
118
108 108 [113 120 ]
100 94 92
100
0
1Q19 2Q 3Q 4Q 1Q20 2Q 3Q 4Q 1Q21 2Q 3Q 4Q 1Q22 2Q 3Q 4Q 1Q23 2Q 3Q 4Q 1Q24 2Q
----- End of picture text -----

==> picture [666 x 37] intentionally omitted <==

----- Start of picture text -----

Copyright © Macronix International Co., Ltd. 13
----- End of picture text -----

Business U date - NOR Book Trend p

==> picture [591 x 343] intentionally omitted <==

----- Start of picture text -----

$
2022 2023 2024H1
----- End of picture text -----

MA120 MA60

Note: (1) MA 120 ： 120-Day Moving Average Book ；(2) MA 60：60-Day Moving Average Book ；(3) Book：Value of Orders Received

==> picture [666 x 37] intentionally omitted <==

----- Start of picture text -----

Copyright © Macronix International Co., Ltd. 14
----- End of picture text -----

車用的最佳 Flash Memory 解決方案

 Auto business

• 車用電子和動力電動化需求穩健

• 政府減少電動車補助之政策影響整體市場需求成長

NOR Flash by Automotive Density shipment Index: 1Q18 =100

==> picture [567 x 254] intentionally omitted <==

----- Start of picture text -----

329
283 [310] 280
300
254 257
240 [253]
233
214 217
201 206
192188
154
138 [155][155] 135
150
116 113
100 [109] [113]
91
0
1Q182Q 3Q 4Q1Q192Q 3Q 4Q1Q202Q 3Q 4Q1Q212Q 3Q 4Q1Q222Q 3Q 4Q1Q232Q 3Q 4Q1Q242Q
----- End of picture text -----

==> picture [666 x 37] intentionally omitted <==

----- Start of picture text -----

Copyright © Macronix International Co., Ltd. 15
----- End of picture text -----

營運現況 – NOR 應用別分析 ( 母公司 )

1Q23 NOR Revenue Breakdown 2Q24 NOR Revenue Breakdown

==> picture [279 x 110] intentionally omitted <==

----- Start of picture text -----

消費性電子 通訊相關 []
11% 21%
車用電子
電腦相關
工規 / 醫療 / 20%
30%
航太
18%
----- End of picture text -----*

==> picture [282 x 111] intentionally omitted <==

----- Start of picture text -----

通訊相關 [ ]
消費性電子
車用電子
9% 16%
27%
工規 / 醫療 /
電腦相關
27% 航太
21%
----- End of picture text -----*

電腦相關 消費性電子 通訊相關 車用電子 工規/醫療/航太 +30% QoQ +33% QoQ +55% QoQ -17% QoQ -0% QoQ +30% YoY +43% YoY +33% YoY +0% YoY -9% YoY

Note：[*] 通訊相關:包含手機應用

==> picture [666 x 37] intentionally omitted <==

----- Start of picture text -----

Copyright © Macronix International Co., Ltd. 16
----- End of picture text -----

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

==> picture [353 x 188] intentionally omitted <==

For all inquiries, suggestions and comments ir@mxic.com.tw