NYDF — Investor Presentation 2023

Oct 26, 2023

南洋染整股份有限公司 NAN YANG DYEING & FINISHING CO.,LTD 法人說明會 Investor Conference (股票代號:1410)

免責聲明 Safe Harbor Notice

• 本簡報是建立於本公司從各項來源所取得之資訊。有些資訊可能受未來不確定 性因素影響，致使與原先本公司對於未來前景的說明迥異。未來若有變更或調 整時，請以公開資訊觀測站公告資訊為依據。

• This presentation is based on the information obtained from various sources which the Company believes to be reliable. But at some point in the future, there are a variety of factors which could cause actual results to differ materially from those statements. Therefore, please refer to the information on MOPS website as the main basis if any adjustment has been made.

Company Introduction

• Main Sources of Revenue：

The company is a factory that provides professional dyeing and finishing proecess services for knitted cotton, knitted rayon, and

chemical fiber fabrics. In addition, the company has sales in finished fabrics for garments.

• Year of Establishment：1964

• IPO in Taiwan Stock Market：1973

• Capital ： NT$ 630,000,000

• Chairman ： June Ho

• The subsidiary company, Nanotech Semiconductor Corp., is established in 1998.(IC assembly and testing factory)

• In 2022.8.26 Nan Yang has decided to terminate its dyeing and finishing operations, and switch to property rental business.

Proportion of Business Revenues

	Business Items	Business Items	2022	2021
	Dyeing & Finishing services		163,059	145,476
	Sales of Fabrics		629	377
	Rental		45,082	36,110
	IC Assembly & Testing		187,201	295,391
	Total		395,971	477,354

Sales Revenue Analysis

	Type of Fabrics	Type of Fabrics	2022
	Cott
		~~on Fabric~~	~~826,855KG~~
	Knitted Filament Fabric		92,667KG
	Blended Chemical Fiber Fabrics		536,931KG
	Total Sales Qty		1,456,453KG
	Total Sales: (Excluding Rental Income)		NT$163,687,000

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Nan Yang Profit Analysis
2022 2021
Revenues
223,611 196,888
Net Income after Tax
56,582 81,170
Net Income After Tax
(Excluding Subsidiary profits) 59,358 52,021
Net Income After Tax (Excluding Subsidiary
profits and Exchange gains and losses ) 48,048 55,114
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Nan Yang EPS Report
2022 2021
Gross Profit Margin 52% 52%
Net Profit Margin 25% 41%
EPS 0.90 1.29
Dividends 0.8 1.3
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Inventory Ratio

				2020
		2022	2021
	Current ratio(%)	1443.84	1236.63	1100.50
	Quick ratio(%)	1442.00	1221.00	1085.85
	Debt ratio(%)	15.25	15.08	15.55
	A/R Turnover	14.77	7.63	7.65
	Days Sales in A/R	24.71	47.84	47.71
	A/P Turnover	9.00	7.93	7.87
	Inventory Turnover			14.93
		40.93	14.31
	Average Days In Sales	8.92	25.51	24.45

Nan Yang 2023

2023H1 24,644 Rental severance 14,696 Gains on disposals of property, 8,850 lant and e ui ment p q p 9,923 Other income

Semiconductor industry chain

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The first stage Second stage Third stage
IC Assembly
IC design IC manufacturing
&Testing
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Sales Revenue Analysis

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2022
21.00%
Sales NT 39,142,000
79.00%
IC Assembly &
NT 148,059,000
Testing
Shipments 339,013,488 pcs
NT 187,201,000
Ceramic package Plastic package
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Revenue -IC Assembly & Testing

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2021 2022 2023H1
IC Assembly &
252,990 148,059 60,179
Testing
Shipments 489,810 284,744 106,288
average unit price 0.52 0.52 0.57
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Revenue -Sales
2021 2022 2023H1
Sales 42,401 39,142 22,470
Shipments 62,342 54,269 31,801
average unit price 0.68 0.72 0.71
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Gross profit margin
2021 2022 2023H1
Gross Profit 83,802 19,660 6,427
Gross Profit Margin 28% 11% 8%
Net Income after Tax 35,241 (3,353) (3,613)
Net Income after Tax
37,505 (12,167) (5,058)
(Excluding Exchange gains and losses )
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NANOTECH EPS Report
2021 2022 2023H1
Capital expenditures 25,580 44,591 22,831
(thousand)
1.78 (0.17) (0.36)
EPS
- -
1.30
Dividends
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Inventory Ratio

					2022
			2020	2021
		Current ratio(%)	473.36	486.75	522.64
		Quick ratio(%)	431.03	415.52	419.81
		Debt ratio(%)	30.55	25.23	20.20
		A/R Turnover	5.19	5.97	5.50
		Days Sales in A/R	70.33	61.14	66.36
		A/P Turnover	19.68	22.82	18.07
		Inventor Turnover	955	695	4.67
		y	.	.
	Average Days In Sales		38.22	52.52	78.16

Cost Structures

							2022Q2	%
			2021	%	2022	%
	Gold wire		28,617	15%	17,182	12%	6,937	11%
	Lead Frame		33,687	18%	21,782	15%	7,412	12%
	Mold Comp	ound	6,314	3%	966	1%	626	1%
	Direct Labor Costs		30,109	16%	25,580	17%	12,007	19%
	Depreciation expense		25,968	14%	25,542	17%	9,762	15%
	Total Operating Costs						63,843	58%
			188,979	66%	147,980	62%