MERRY — Annual Report 2016

Mar 3, 2017

Merry Electronics

2016 Q4 Financial Result

日期 : February 23, 2017

Page 0 201608V1.0

2016 Fourth Quarter Financial settlement (audited)

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本文件為美律實業股份有限公司專有之財產, 非經書面許可, 不准透露或使用本資料, 亦不准複印, 複製或轉變成任何其他形式使用。

Revenue

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YoY
( NT$ million)
81.68%
QoQ
22.46%
7,000
6,041
6,000
4,933
5,000
4,000
3,325
3,000
2,000
1,000
-
4Q2015 3Q2016 4Q2016
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本文件為美律實業股份有限公司專有之財產, 非經書面許可, 不准透露或使用本資料, 亦不准複印, 複製或轉變成任何其他形式使用。

(%)

Revenue ratio by Product

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Speaker
Entertainment QoQ
35% 72.56%
80% 75% 29%
QoQ 30%
68%
70% 11.66% 25%
57% 25%
60%
YoY YoY
50% 20% 17%
102.57% 42.66%
40% 15%
30%
10%
20%
5%
10%
0%
0%
4Q2015 3Q2016 4Q2016
4Q2015 3Q2016 4Q2016
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Handsfree

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Handsfree QoQ
Battery 23.99%
6%
9% YoY
5% QoQ 8%
8% 6.70%
5% YoY -19.32%
7%
-52.86%
4%
6%
5% 5%
5%
3%
2% 4%
2% 3%
1%
2%
1%
1%
0% 0%
4Q2015 3Q2016 4Q2016 4Q2015 3Q2016 4Q2016
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本文件為美律實業股份有限公司專有之財產, 非經書面許可, 不准透露或使用本資料, 亦不准複印, 複製或轉變成任何其他形式使用。

(%)

Wired / Wireless of Entertainment

Entertainment

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80% 75%
68%
QoQ
70%
57% 11.66%
60%
50% YoY
40% 102.57%
30%
20%
10%
0%
4Q2015 3Q2016 4Q2016
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Wired/Entertainment

Wireless/Entertainment

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80%
QoQ 71% 70%
50% 47%
15.34% 70% QoQ
45%
10.15%
40% 60% 53%
35% YoY 29% 30% 50% YoY
30% 30.34% 166.35%
40%
25%
20% 30%
15%
20%
10%
10%
5%
0% 0%
4Q2015 3Q2016 4Q2016 4Q2015 3Q2016 4Q2016
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本文件為美律實業股份有限公司專有之財產, 非經書面許可, 不准透露或使用本資料, 亦不准複印, 複製或轉變成任何其他形式使用。

(%)

NB&PC / Mobile of Speaker

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Speaker QoQ
72.56%
35%
29%
30%
25%
25%
20% YoY 18%
42.66%
15%
10%
5%
0%
4Q2015 3Q2016 4Q2016
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NB&PC/Speaker Box

Mobile/Speaker Box

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80% 72% 71% QoQ 60% QoQ
51%
YoY
70% -2.43% 50% YoY 535.87%
-20.99%
60% 233.46%
40%
50%
40%
40% 30%
22%
30%
20% 14%
20%
10%
10%
0% 0%
4Q2015 3Q2016 4Q2016 4Q2015 3Q2016 4Q2016
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本文件為美律實業股份有限公司專有之財產, 非經書面許可, 不准透露或使用本資料, 亦不准複印, 複製或轉變成任何其他形式使用。

Gross Margin

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--- Without JV
30.00%
25.43%
23.80%
25.00%
22.89%
22.52%
20.00%
18.87%
15.00%
10.00%
5.00%
0.00%
4Q2015 3Q2016 4Q2016
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本文件為美律實業股份有限公司專有之財產, 非經書面許可, 不准透露或使用本資料, 亦不准複印, 複製或轉變成任何其他形式使用。

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Operating Expenses
YoY
( NT$ million)
15.86%
600
QoQ
501
-13.97%
500
431
372
400 205
171
300
163
200
218
174
145
100
77 86
65
0
4Q2015 3Q2016 4Q2016
Selling expenses Administration expenses R&D expenses Total
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本文件為美律實業股份有限公司專有之財產, 非經書面許可, 不准透露或使用本資料, 亦不准複印, 複製或轉變成任何其他形式使用。

Operating Income & Margin

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( NT$ million)
YoY
800 14.00%
61.36%
QoQ
12.74%
700 12.88% 13.00%
12.23%
11.75%
12.00%
600
11.00%
500
10.00%
400
710 9.00%
629
300
8.00%
440
200
7.00%
100
6.00%
0 5.00%
4Q2015 3Q2016 4Q2016
Consolidated Operating Income Consolidated Operating Margin
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本文件為美律實業股份有限公司專有之財產, 非經書面許可, 不准透露或使用本資料, 亦不准複印, 複製或轉變成任何其他形式使用。

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Net Income & Margin
( NT$ million)
YoY
1000 20.00%
141.31%
18.58% QoQ
900 18.00%
-19.65%
800 16.00%
700 14.00%
600 12.20% 12.00%
500 10.00%
916
8.48%
400 8.00%
736
300 6.00%
200 4.00%
305
100 2.00%
0 0.00%
4Q2015 3Q2016 4Q2016
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Consolidated Net Income Consolidated Net Profit Margin

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EPS
( NT$ dollar)
QoQ
-19.56%
YoY
6
153.46%
5.01
5
4.03
4
3
2
1.59
1
0
4Q2015 3Q2016 4Q2016
EPS 1.59 5.01 4.03
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本文件為美律實業股份有限公司專有之財產, 非經書面許可, 不准透露或使用本資料, 亦不准複印, 複製或轉變成任何其他形式使用。

2016 Consolidated Financial Statements

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2016Q4 Statement of Comprehensive Income

(NT$ Thousand)

Account names	2016Q4	%	2015Q4	%
Net Revenue	6,040,939	100.00	3,595,648	100.00
Gross Profit	1,140,133	18.87	811,999	22.58
Operating Income	709,956	11.75	439,844	12.23
Pre-tax Income	944,541	15.64	384,269	10.69
Net Income	736,893	12.20	304,783	8.48
EPS	4.03		1.59

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本文件為美律實業股份有限公司專有之財產, 非經書面許可, 不准透露或使用本資料, 亦不准複印, 複製或轉變成任何其他形式使用。

2016 Statement of Comprehensive Income

(NT$ Thousand)

Account names	2016	%	2015	%
Net Revenue	16,939,274	100.00	12,240,234	100.00
Gross Profit	3,366,079	19.87	2,394,886	19.57
Operating Income	1,653,389	9.76	852,514	6.96
Pre-tax Income	2,470,306	14.58	813,300	6.64
Net Income	2,011,146	11.87	665,226	5.43
EPS	11		3.48

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本文件為美律實業股份有限公司專有之財產, 非經書面許可, 不准透露或使用本資料, 亦不准複印, 複製或轉變成任何其他形式使用。

2016 Statement of Financial Position

(NT$ Thousand)

Account names	2016	%	2015	%
Cash & Current assets	4,477,187	29	2,530,016	22
Accounts receivable	3,605,274	24	2,576,424	23
Inventories	1,178,603	8	1,461,774	13
Other current assets	1,296,014	8	759,638	7
Intangible assets	300,956	2	234,276	2
Non-current assets	4,503,886	29	3,823,580	34
Total Assets	15,360,964	100	11,385,708	100
Short-term loans	381,771	2	135,905	1
Accounts payable	3,298,699	21	2,594,619	23
Other current liabilities	2,726,860	18	962,839	8
Non-current liabilities	2,008,373	13	1,882,241	17
Total liabilities & Equity	15,360,964	100	11,385,708	100

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本文件為美律實業股份有限公司專有之財產, 非經書面許可, 不准透露或使用本資料, 亦不准複印, 複製或轉變成任何其他形式使用。

2,530,01 6

2016 Consolidated Statements of Cash Flows

(NT$ Thousand)

Account names 2016 2015

1,317,41 Net cash generated by(used in) operating activities 3,071,076 0 (1,172,96 Net cash generated by(used in) investing activities (661,107) 7) Net cash generated by(used in) financing activities (255,024) 570,512 Net increase (decrease) in cash and cash 1,947,171 862,722 equivalents

Cash and cash equivalents at end of year

4,477,187

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Key message

• The board of Merry Electronics Co. Ltd. approve resolution.(2017/2/23)

– Merry Electronics (HK) Co., Ltd. has entered into a joint venture agreement with Dongguan Luxshare Precision Industry Co. Ltd.. Dongguan Luxshare Precision Industry Co. Ltd. will contribute RMB 1,253,426 to 51% share capital in Merry Electronics (Shanghai) Co. Ltd. and contribute RMB 53,809,297 to 44.95% share capital in Merry Electronics (Huizhou) Co. Ltd. Furthermore, Merry Electronics (Huizhou) Co. Ltd. will handle capital increase by cash, the new capital of RMB 10,989,900, all by the Dongguan Luxshare Precision Industry Co. Ltd., to subscribe for capital contribution of RMB 14,780,238. After the capital increase, Dongguan Luxshare Precision Industry Co. Ltd. will gain 51% share capital in Merry Electronics (Huizhou) Co. Ltd..

Page 16

本文件為美律實業股份有限公司專有之財產, 非經書面許可, 不准透露或使用本資料, 亦不准複印, 複製或轉變成任何其他形式使用。

Thank you

http://www.merry.com.tw

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