PARPRO — Investor Presentation 2014

May 26, 2014

股票代號： 4916

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事欣科技股份有限公司 . Pilot Electronics Corp 法人說明會 May / 27 / 2014

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Quality is Our Most Important Product

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公司概況
產品介紹
經營實績
未來發展計劃
美國營運概況及計劃

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公司概況

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董事長 / 總經理： 廖文嘉

實收資本 ： 678,990 仟元

員工人數 ： 151 人（合併 428 人） 主要產品 ：

博奕整合箱體
高階嵌入式工業電腦
高階航太線束及整合測試

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總公司/工廠 ： 桃園縣中壢市中壢工業區東園路 67 之 1 號 ： 經營理念 誠信為本、品質用心、客戶滿意

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海外佈局

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海外倉-芝加哥
AP Parpro
Inc.
事欣科技
海外倉-拉斯
世德科技
維加斯
Ensambles del
Pacifico S. R.L. de
Parpro(Nevada)
C. V.
Inc.(博奕產品相關)
( 航太相關生產基地 )
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跨足三大領域

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事欣科技 世德科技 Parpro(Nevada) Inc. AP Parpro Inc.

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博奕產業

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Malaysia 2
Korea 3
Philippines 3
Australia 4
Singapore 7
Japan 40
Macau 51
(US$bn)
USA 60
0 10 20 30 40 50 60 70
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Sorce ： CLSA

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博奕產業

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� 全球賭場玩法眾多，但吃角子老虎機仍為主要機種

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• 全球趨勢 � 佔博奕市場機種約 � 連線式樂透將逐步 � 澳門及新加坡市場 � 運動彩券將逐漸盛 43% 取代非電腦連線化 擴張提供成長機會 行 彩券

• 亞洲新市場商機

• 北美換機潮將起

主要國際業者 � IGT

�Scientific Games

• Aristocrat

�Gtech

• WMS �Intralot

�Shuffle Master

• �Progressive Gaming

• Bally

� Konami

資料來源：凱基證券研究報告

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主要產品

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� 博奕相關
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板卡準系統玩家追蹤系統博奕機台框體及組件

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航太產業

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� 長線航太市場發展仍為正向，亞太市場將成重心

• Boeing預估全球航空產業發展，總機數將由2012年20,310架成長至2032年的41,240架，新機落地量成長 穩健長線發展無虞。

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資料來源：Boeing CMO

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航太產品

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� AP Parpro 將伴隨航空產業發展穩定成長

• AP Parpro航空用線束/零組件將得以隨運量提後拉高維修需求以及新機落地數量增長而穩定成長。

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資料來源：Parpro Company

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工業電腦產業

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� 工業電腦產業產值每年穩健向上

• ，

• 工業電腦市場產值每年穩定向上成長，CAGR8~10% 2012年已達74億美金，終端應用仍以通訊、工業 用需求為大宗。

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資料來源：ETP

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產品別營業比重

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102 年度合併營收比重

一 103 年第 季合併營收比重

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其他
其他
0.01 億
0.02 億
0%
0%
航太相關
3.80 億 航太相關
22% 博奕相關 0.96 億 博奕相關
博奕相關 24% 博奕相關
8.45 億 工業電腦 1.74 億 工業電腦
工業電腦 49% 航太相關 工業電腦 44% 航太相關
5.02 億
29% 其他 1.26 億 其他
32%
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項目	101年度	102年度	103年第一季
營業收入	1,520,061	1,727,621	398,234
營業毛利	343,708	312,524	58,029
營業利益	241,727	171,578	21,589
本年度淨利	185,615	153,446	22,392
本年度綜合損益總額	183,278	158,592	28,883
基本每股盈餘	3.15	2.51	0.33

註：金額除每股盈餘為新台幣元外，均以新台幣千元為單位

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營運實績-簡明資產負債

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單位：仟元；%
項目/年度	102/12/31 103/03/31
現金及定存	金額 % 金額 %
	644,137 35.95 709,412 40.11
應收帳款	268,978 15.01 239,265 13.53
存貨	444,604 24.81 395,801 22.38
不動產、廠房及設備	378,157 21.10 371,231 20.99
資產總計	1,791,987 100.00 1,768,689 100.00
流動負債 非流動負債	335,155 18.70 288,299 16.30 192,874 10.76 187,549 10.60
負債總計	528,029 29.47 475,848 26.90
權益總計	1,263,958 70.53 1,292,841 73.10

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合併營收規模

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單位：NTD 仟元
1,800,000
1,600,000
1,400,000
1,200,000
1,000,000
800,000
600,000
400,000
200,000
0
98年 99年 100年 101年 102年
合併營收 684,823 1,282,535 1,700,116 1,520,061 1,727,621
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未來發展計劃-公司定位

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加值型之專業製造服務

全功能之設計、製造提供者 (設計/研發、製造及服務)

短期中期

長期

• ‧

• 強化經營團隊，以建立國際性之專業經營團隊為目標

• 建構跨國性之產品研發團隊，以掌握新產品發展及市場 ‧

• 趨勢

• 進行具規模性之跨國併購，以取得市場及客戶為目標。

• 分散單一產業之風險，如跨足航太及醫療設備。

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未來發展計劃-發展策略

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博奕及工業電腦

• 接近市場及貼近客戶：持續擴展海外生產基地及行銷網，以提

• 供 “ 及時 ” 之服務，以滿足客戶需求。

• 擴大現有客戶基礎，減少單一客戶依賴。目前已切入多家馨各 戶。

• 增加對客戶之加值服務，如電子組件，鐵件等外，亦提供如塑 膠件及以加強對本公司之依賴度。提供客戶垂直整合之產品服 務。

• 加強與客戶新產品之共同開發。

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未來發展計劃-發展策略

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航太

• 本於目前子公司AP Parpro之生產基礎，業已取得 AS-9100

• 及NADCAP 之認證，積極拓展新客戶群。

• 積極爭取ITAR之認證，以進入更高階之航太製造。

• 尋找併購之標的，加強並擴大客戶群及作為垂直整合之基 礎。

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US Operations

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Mission Statement

A world class electronics manufacturing partner offering engineering support, quality manufacturing operations to clients focused in the Aerospace and Gaming Industries.

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US Operations

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Strategy / Vision

Acquire additional EMS platforms or local integration facilities enabling a move up the value chain. Then finally add Design capabilities to become a Global DMS company, serving the Gaming and Aerospace markets with the “One Stop Shop” approach.

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US Operations

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Up the value chain with total integration (Ex. Gaming, same for Aerospace)

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Competitive Landscape

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Defense/Aerospace Gaming Industrial Consumer, Computing,
Handset, Automotive
LOW VOLUME, HIGHER MID VOLUME, MID MIX HIGH VOLUME, LOW MIX
MIX
Higher Complexity Lower Complexity
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Value Proposition

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PEC is an efficient and differentiated partner enabling our customers to achieve competitive advantage…

PEC Realization Value Stream

| DESIGN |COMMERCIALIZE | MANUFACTURE | FULFILL | SUSTAIN | SERVICE |

PEC Competitive Value Stream

| DESIGN |COMMERCIALIZE | MANUFACTURE | FULFILL | SUSTAIN | SERVICE |

PEC Future Realization Value Stream

| DESIGN |COMMERCIALIZE | MANUFACTURE | FULFILL | SUSTAIN | SERVICE |

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Q & A
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敬請指教
謝謝

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