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MERRY — Investor Presentation 2021
Jul 30, 2021
52085_rns_2021-07-30_d1ac2fb2-0c83-45e1-8fde-185d75409583.pdf
Investor Presentation
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Presented by : Allen Huang, CEO Date: Jul. 30, 2021
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Safe Harbor Notice
Except for historical information contained herein, the matters set forth in this presentation are forward looking statements subject to significant risks and uncertainties that could cause actual results to differ materially, including the impact of competitive products and pricing strategies, whether the design is accepted by our customers timely, the prompt introduction of new technologies, the capability for mass production of new products, the risk of excess capacity, the availability of production capacity, the financial stability in terminal markets or other risks, and so on.
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Statement of Comprehensive Income
| Statement of Comprehensive Income | Statement of Comprehensive Income | Statement of Comprehensive Income |
|---|---|---|
| (NT$ Thousand) | ||
| Item 2020Q2 2021Q1 |
2021Q2 | QoQ YoY |
| Net Revenue 6,445,201 7,734,792 |
8,168,668 | 5.61% 26.74% |
| Gross Profit 15.53% 10.13% |
9.59% | -0.54pp -5.94pp |
| Operating Expenses -721,120 -859,518 |
-834,385 | -2.92% 15.71% |
| Operating Margin 4.34% -0.99% |
-0.62% | 0.37pp -4.96pp |
| Non-Operating Income 160,027 110,036 |
224,114 | 103.67% 40.05% |
| Net Income 298,847 53,483 |
149,041 | 178.67% -50.13% |
| Net Profit Margin 4.64% 0.69% |
1.82% | 1.13pp -2.82pp |
※ Diluted weighted average outstanding shares were 207,687K units in 2Q2021.
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Product Mix by Quarterly
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Speaker
32%
Headset
62%
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Headset Revenue Breakdown
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(%)
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Headset QoQ : 1.4% YoY : 18%
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Speaker Revenue Breakdown
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(%)
Speaker
QoQ : 2.3% YoY : 44%
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Balance Sheet & Key Indices(CQ)
| 20200630 | 20210331 | 20210630 | |||||
|---|---|---|---|---|---|---|---|
| (NT$ Thousand) | 金額 | % | 金額 | % | 金額 | % | |
| Cash and Cash Equivalents 6,242,503 29% 5,321,982 17% |
5,651,209 18% |
||||||
Account Receivable 5,134,937 16% 7,663,641 24% |
7,504,777 23% |
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| Inventories 2,645,490 9% 4,408,468 14% |
4,322,389 13% |
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| Other Current Assets 993,808 7% 2,823,874 9% |
2,403,072 8% |
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| Investments 3,968,689 16% 4,548,565 14% |
4,600,853 14% |
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| Property, plant and equipment 2,407,905 9% 3,796,532 12% |
3,987,448 12% |
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Other Non-current Assets 3,671,533 14% 3,624,068 11% |
3,551,104 12% |
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| Total Assets 25,064,865 100% 32,187,130 100% |
32,020,852 100% |
||||||
| Current Liabilities 9,986,211 42% 18,604,551 58% |
18,473,376 58% |
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| Non-current Liabilities 3,937,205 16% 2,478,872 8% |
2,446,144 7% |
||||||
| Total Liabilities 13,923,416 58% 21,083,423 66% |
20,919,520 65% |
||||||
| Total Shareholders’ Equity 11,141,449 42% 11,103,707 34% |
11,101,332 35% |
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| Key Indices A/R Turnover (CQ) 73 89 Inventory Turnover Days (CQ) 44 57 Current Ratio (x) 1.5 1.1 ROE 2.78% 0.46% |
84 53 1.1 1.34% |
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Cash Flow
| (NT$ Thousand) | 2020Q2 | 2021Q1 | 2021Q2 5,321,982 -852,595 -175,129 1,734,760 -21,870 - -355,939 5,651,209 -1,027,724 |
|
|---|---|---|---|---|
| Beginning Balance 7,137,339 3,046,963 |
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| Cash from operating activities -577,838 2,102,778 |
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| Capital Expenditures -184,685 -356,167 |
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| Short-term Loans -376,358 554,520 |
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| Long-term Loans -84,130 304,348 |
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| Issuance of Common Stock for Cash 350,860 - |
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| Investments and Others -22,685 -330,460 |
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| Ending Balance 6,242,503 5,321,982 |
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| Free Cash Flow -762,523 1,746,611 |
*. Free cash flow = Cash from operating activities - Capital expenditures
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Recap of Recent Major Events
The ex-dividend date is Aug. 31
To issue the third domestic unsecured convertible bonds for total value NT$3,000,000K which was effective on Jul.19.
To issue new shares through cash capital increase for total value NT$60,000K which was effective on Jul.19.
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3Q2021 Outlook
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Q & A
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Vision
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“Delivering Fidelity Sound to Enrich Human’s Life”
- Mr. Leo Liao, the Founder and Chairman
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CONFIDENTIAL @ MERRY All Right Reserved
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