PHD — Interim / Quarterly Report 2013

Nov 25, 2013

==> picture [254 x 378] intentionally omitted <==

==> picture [344 x 380] intentionally omitted <==

==> picture [236 x 378] intentionally omitted <==

3Q 2013 Operating Briefing

太子建設開發股份有限公司 Prince Housing & Development Corp.

2511TT

Disclaimer Statement 免責聲明

• 本簡報及同時發佈之相關訊息所提及之前瞻性資

• 訊，係本公司基於公司資料及整體經濟發展現況所 得之資訊。

• 此類前瞻性資訊將受風險、不確定性與推論所影

• 響，部份將超出我們的控制之外，實際結果可能與 這些前瞻性資訊大不相同。其原因可能來自於各種 因素，包括但不限於原物料成本增加、市場需求， 各種政策法令與金融經濟現況之改變以及其他非本 公司所能控制之風險等因素。

•
本簡報資料中所提供之資訊並未明示或暗示的表
達或保證其具有正確性、完整性、或可靠性，亦不
代表本公司、產業狀況或後續重大發展的完整論述
論。對未來的展望，反應本公司截至目前為止對於
未來的看法對於這些看法，未來若有任何變更或調
整時，〈本公司〉並不保證本簡報資料之正確性，
且不負有更新或修正本簡報資料內容之責任。
•
此簡報及其內容未經本公司書面許可，任何第三
者不得任意取用。

• This presentation contains forward looking statements which are estimated based on the current status of Prince Housing & Development Corp and general economic conditions. The forward looking statements involve certain risks and uncertainties that could cause actual results to differ materially from those contained in the forward looking statements. Potential risks and uncertainties include such factors as general economic conditions, foreign exchange fluctuations, rising costs of raw materials, competitive products and pricing pressures and regulatory developments.

• Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved.

• Prince Housing & Development Corp. expressly disclaims any obligation to review, update or correct these materials after the date thereof. Prince Housing & Development Corp. may update, amend, supplement or otherwise alter the information contained in any such 2 materials by subsequent presentations, reports, filings, or other means without notice. This presentation may not be stored, copied, distributed, transmitted,

==> picture [33 x 23] intentionally omitted <==

Prince Housing & Development Corp.

3

目錄 Content

• 公司沿革 Introduction

▪ 轉投資事業群營運說明 Investment Subsidiaries

▪ 營收暨財務狀況說明 Financial Data

• 未來營運方針 Future Strategy

==> picture [33 x 23] intentionally omitted <==

Prince Housing & Development Corp.

公司營運狀況 Company Overview

==> picture [75 x 134] intentionally omitted <==

1973 Tainan/Taipei 1978 Taichung 1979 Kaohsiung

1973 1991 1997 Founded in Taiwan Go Public in Taiwan Invested in Hotel Capital NT$150million Stock Market Business

==> picture [49 x 49] intentionally omitted <==

==> picture [83 x 42] intentionally omitted <==

==> picture [85 x 53] intentionally omitted <==

PHD Capital exceeded NTD 10 B

PHD Revenue exceeded NTD 10 B

2004 2010 2011 Signed Taipei City Bus Terminal BOT Contract Signed NTU Dorm BOT Contract Signed NCKU Dorm BOT Contract

==> picture [61 x 62] intentionally omitted <==

==> picture [68 x 74] intentionally omitted <==

==> picture [58 x 53] intentionally omitted <==

Ticker ： 2511TT Capital ： NTD11.95 billion 2012 Revenue ： NTD14.65 billion Total Asset ： NTD48 billion

==> picture [33 x 23] intentionally omitted <==

Prince Housing & Development Corp.

Intro

5

台南幫集團 Tainan Group Members

==> picture [486 x 413] intentionally omitted <==

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

Uni- Prince Tainan
President H&D Spinning
1216.tw 2511.tw 1440.tw
President
Universal
Tain an
Chain
Cement
Store Co. Group
1104.tw
2912.tw
Scinopharm Ton Yi
Nantex
Taiwan, Ltd. Industrial
2108.tw
1789.tw 9907.tw
----- End of picture text -----

==> picture [33 x 23] intentionally omitted <==

Prince Housing & Development Corp.

Intro

6

轉投資事業群營運 Investment Subsidiaries

PHD Prince Time Square Geng-Ding PDC Mean-Da Prince Housing Construction Dong-Feng International Property Horwad(30%) (30%) (20%) Investment Holding W Taipei Prince The Splendor Security Hotel (50%) Ta-Chen Prince Splendor Prince Apartment AMC(50%) Utility Geng-Ding Horwad ： Mean-Da ： Horwad 50% Tone-Sang Construction 45% Amida PHD 30% Tainan Spinning 35% Trustlink Chen-Shi Tainan Spinning 20% PHD 20% AMC 45%

==> picture [33 x 23] intentionally omitted <==

Prince Housing & Development Corp.

Investment Subsidiaries

7

轉投資事業群營 Investment Subsidiaries

Construction & Real Estate 不動產暨營建

  - **Ta Chen Construction & Engineering Corp.**

  - **Cheng Shi Construction**

  - **Prince Security**

  - **Howard Beach Resort , Kenting**

• Hotel Splendor Hotel , Taichung

  • Chenda Suites , Tainan

• 飯店 W Taipei Hotel

   - **Dormitory of NCKU , Tainan**
  

• Fixed Incomes & BOT • Dormitory of NTU , Taipei

• •

• 收益型不動產 Taipei City Hall Bus Terminal Station BOT Project

==> picture [33 x 23] intentionally omitted <==

Prince Housing & Development Corp.

Investment Subsidiaries

轉投資事業群營運 Investment Subsidiaries

==> picture [297 x 189] intentionally omitted <==

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

Ownership %
20%
PHD
UPCC
30% PDC 30%
Uni_President
PIDC
20%
----- End of picture text -----

特許公司 SPC ：統一開發 PDC 特許期 Chartered period 50 年

Site Area 16,280 M2 Total Floor Area 144,037 M2	Site Area 16,280 M2 Total Floor Area 144,037 M2	Site Area 16,280 M2 Total Floor Area 144,037 M2	Site Area 16,280 M2 Total Floor Area 144,037 M2
Project	Bus Station & ParkingArea	Hankyu Department Store	W Taipei Hotel
Floor	1F & B4~B5	B2~7F	8F~31F
Operation mode	Operating	Rent out	Rent out
Proprietor	PDC	PDSC	Time Square International
Ownership	30%	0%	100%
Estimated Revenue(million)	30	0	100

8

==> picture [28 x 18] intentionally omitted <==

Prince Housing & Development

Investment Subsidiaries

9

轉投資事業群營運 Investment Subsidiaries

太子建設認列收入：  100%W Hotel 營運收益  30% 市府 BOT 案

==> picture [139 x 87] intentionally omitted <==

100% Investment 30%Investment

==> picture [161 x 122] intentionally omitted <==

==> picture [279 x 96] intentionally omitted <==

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

pay the rent
PDC
----- End of picture text -----

pay royalties Time Square International

 PDC -Lease Floor Area to W Hotel

• Management Support

 PDC- Revenue Base

• Incentive fee & Base Fee

==> picture [28 x 18] intentionally omitted <==

Prince Housing & Development

Investment Subsidiaries

10

轉投資事業群營運 Investment Subsidiaries

==> picture [238 x 191] intentionally omitted <==

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

BOT Income Properties
、
NTUBOT NCKUBOT
NTU NCKU
Company 46% 39%
Owned Funds
Bank Loans 54% 61%
----- End of picture text -----

==> picture [617 x 192] intentionally omitted <==

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

Estimated Net Income
Revenue Total Cost & Exp. Net Income
NTU 370 M NTU 240 M NTU 130 M
NCKU 130 M NCKU 100 M NCKU 30 M
500 M - 340 M = 160 M
----- End of picture text -----

==> picture [153 x 130] intentionally omitted <==

==> picture [165 x 131] intentionally omitted <==

==> picture [178 x 130] intentionally omitted <==

2005

Mar. NTU Signed May. NCKU Signed

Investment Subsidiaries

2008

Sep. Started Operating

Chartered period ： NTU(47Y) NCKU(35Y)

==> picture [28 x 18] intentionally omitted <==

11

營收暨財務狀況 Financial Data

Residential Project Area

Taipei Branch

(Taipei City\New Taipei City\Taoyuan County) (Hsinchu City\Hsinchu County)

Taichung Branch

(Taichung City\Changhwa City\Nantou County)

Tainan Branch (Tainan City\Kaohsiung City)

==> picture [236 x 426] intentionally omitted <==

==> picture [33 x 23] intentionally omitted <==

Prince Housing & Development Corp.

Financial Data

營收暨財務狀況 Financial Data

Residential Project Area

台北分公司 Taipei Branch

• 2013

• 2014

• 潭美段 Tanmei Section

台北市 Taipei City 新北市 New Taipei City

• 2015

• 2016

• 至誠路合建案 Zhicheng Rd.Cooperation Project

• 新莊佳能合建案 Canon Cooperation project

桃園縣 Taoyuan County

• 太子馥 Prince Fu

• 青溪段 Chin Shi Section

新竹縣 Hsinchu County

• 太子中央公園 Prince Central Park

==> picture [33 x 23] intentionally omitted <==

12

Prince Housing & Development Corp. 1

Financial Data

營收暨財務狀況 Financial Data

Residential Project Area

台中分公司 Taichung Branch

• 2013

• 2014

• 太子雲世紀 B 區 Cloud Century Area B

• 太子雲世紀 C 區 Cloud Century Area C

• 太子雲世紀 A 區 Cloud Century Area A

台中市 Taichung City

• 2015

• 2016

• 太子雲世紀特 A 區 Cloud Century Area Special A

• 太子道 Prince Dao

• 太子馥 Prince Fu ** 豐圳段 Feng Chen Section**

• 景雲見忠明南路案 Chung Ming South Rd. Project

• 向上路案 Hsiang Shang Rd. Section

• 太子海晏 ** 太和段 29 Tai Ho Section 29**

• 大墩 6 街 Da Dung 6th Street

==> picture [33 x 23] intentionally omitted <==

13

Prince Housing & Development Corp. 1

Financial Data

營收暨財務狀況 Financial Data

Residential Project Area

台南分公司 Tainan Branch

• 2013

• 2014

• 2015

台南市 Tainan City

• 花博館三期 Prince Flora ш

• 興華路案 -A 基地 Shin Hua Rd. Section-Base A

• -

• 興華路案 B 基地 Shin Hua Rd. Section-Base B

• 2016

• 2017

• 太子雲端 Prince Cloud** 仁和段 1335 Ren He Section 1335**

• 金華段 136.136-1 Chin Hua Section 136.136-1

• 裕民段 681-1 地號

高雄市 Kaohsiung

• 太子花漾 Prince Blooming

• 金義興重劃 -C 區 Jin Yi Xing Section

• 金義興重劃 -B 區 Jin Yi Xing Section - 金義興重劃 -D 區 Jin Yi Xing Section - 金義興重劃 -E 區 Jin Yi Xing Section 14 - 金義興重劃 -A 區 Jin Yi Xing Section

==> picture [33 x 23] intentionally omitted <==

Prince Housing & Development Corp. 1

Financial Data

營收暨財務狀況 Financial Data

==> picture [341 x 285] intentionally omitted <==

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

Project Perspective
----- End of picture text -----

==> picture [33 x 23] intentionally omitted <==

15

Prince Housing & Development Corp.

16

Prince Housing & Development Corp.

17

==> picture [435 x 540] intentionally omitted <==

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

營收暨財務狀況
----- End of picture text -----

Prince Housing & Development Corp.

18

Prince Housing & Development Corp.

19

==> picture [432 x 540] intentionally omitted <==

Prince Housing & Development Corp.

20

==> picture [396 x 517] intentionally omitted <==

==> picture [411 x 517] intentionally omitted <==

==> picture [33 x 23] intentionally omitted <==

Prince Housing & Development Corp.

21

==> picture [537 x 540] intentionally omitted <==

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

營收暨財務狀況
----- End of picture text -----

Prince Housing & Development Corp.

22

營收暨財務狀況 Financial Data

項目	2010	2010	2011	2011	2012	2012	2013Q3	2013Q3
	億元	%	億元	%	億元	%	億元	%
在建工程	66.81	15	101.97	20	29.54	6	41.61	8
營建用地	94.40	21	134.95	26	101.53	21	86.68	18
待出售房地	12.46	3	7.81	2	16.77	3	6.46	1
預付土地款	21.34	5	5.80	1	1.62	0	25.92	5
其他	7.03	2	3.39	1	5.76	1	11.26	2
存貨小計	202.04	46	253.92	50	155.22	32	171.93	34
現金及其他流動資產	40.82	9	42.10	8	99.75	21	86.25	17
基金及投資	38.70	9	49.55	10	59.57	12	63.58	13
總資產	439.23	100	512.22	100	484.25	100	506.57	100
金融機構借款	217.17	49	251.53	49	222.62	46	230.27	45
客戶預收款	42.52	10	58.51	11	23.31	5	36.87	7
總負債	304.82	69	356.63	70	310.91	64	338.18	67
股東權益	134.41	31	155.59	30	173.33	36	168.39	33
負債比率	69.40%		69.62%		64.20%		66.76%

==> picture [33 x 23] intentionally omitted <==

Prince Housing & Development Corp.

Financial Data

23

營收暨財務狀況 Financial Data

項目	2010	2010	2011	2011	2012	2012	2013Q3	2013Q3
	億元	%	億元	%	億元	%	億元	%
營業收入	147.48	100	145.90	100	146.57	100	77.62	100
營業成本	(102.71)	(70)	(96.16)	(66)	(99.84)	(68)	(52.20)	(67)
營業毛利	44.77	30	49.74	34	46.73	32	25.42	33
營業費用	(20.56)	(14)	(23.96)	(16)	(27.84)	(19)	(20.31)	(26)
營業淨利	24.21	16	25.78	18	18.89	13	5.11	7
稅前淨利	21.01	14	22.64	15	18.19	12	(0.77)	(1)
稅後淨利	20.70	14	22.44	15	17.76	12	(0.67)	(1)
稅後每股盈餘(元)	2.02		2.2		1.54		(0.04)
每股淨值(元)	13.49		14.33		14.51		12.82
股東權益報酬率	15.40%		14.42%		10.25%		0%

註： 2013 開始適用 IFRs

==> picture [33 x 23] intentionally omitted <==

Prince Housing & Development Corp.

Financial Data

Complete Contract Method 2006-2008

==> picture [202 x 135] intentionally omitted <==

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

出售台中惠民段
13.82 億 /4.84 億
----- End of picture text -----

==> picture [18 x 10] intentionally omitted <==

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

24
----- End of picture text -----

==> picture [33 x 23] intentionally omitted <==

Prince Housing & Development Corp.

Financial Data

Percentage Of Completion Method 2010~2011

==> picture [33 x 23] intentionally omitted <==

25

Prince Housing & Development Corp.

Financial Data

26

營收暨財務狀況 Financial Data

2013 單月營收變化

700,000 250% 600,000 200% 500,000 150% 400,000 100% 300,000 50% 200,000 0% 100,000 -50% - -100% Jan Feb Mar Apr May Jun Jul Aug Sep Oct 自結單月 ( 仟元 ) 單月成長率

==> picture [33 x 23] intentionally omitted <==

Prince Housing & Development Corp.

Financial Data

27

營收暨財務狀況 Financial Data

20132Q 合併營收結構

20132Q 合併稅前損益結構

==> picture [74 x 13] intentionally omitted <==

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

(Thousand)
----- End of picture text -----

==> picture [468 x 332] intentionally omitted <==

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

0.07% 60,000
4.30%
24.70%
50,000
23.22%
40,000
30,000
20,000
10,000
0
4.96%
(10,000)
42.75% (20,000)
(30,000)
PHD Construction
(40,000)
Security Hotel
BOT Others (50,000)
----- End of picture text -----

==> picture [94 x 59] intentionally omitted <==

==> picture [35 x 33] intentionally omitted <==

==> picture [40 x 41] intentionally omitted <==

==> picture [35 x 81] intentionally omitted <==

==> picture [35 x 149] intentionally omitted <==

==> picture [35 x 33] intentionally omitted <==

==> picture [33 x 23] intentionally omitted <==

Prince Housing & Development Corp.

Financial Data

營收暨財務狀況 Financial Data

Dividend Policy

==> picture [917 x 318] intentionally omitted <==

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

200%
2.50 EPS Payout Ratio 180%
Cash Dividend Stock Dividend
2.00 2.20 160%
2.22
2.00
97% 140%
1.50 1.58 140% 92% 1.54 120%
0.90 81% 100%
68%
1.00 1.00 82% 80%
1.00 1.00
0.75
60%
0.50 0.30 0.90 40%
0.40
0.55 0.30 0.50 0.50 0% 0.65 20%
0.43
- - 0.20 0.00 0%
2006 2007 - 2008 2009 2010 2011 2012
2006 2007 2008 2009 2010 2011 2012
----- End of picture text -----

==> picture [33 x 23] intentionally omitted <==

28

Prince Housing & Development Corp.

Financial Data

未來營運方針 Future Strategy

▪ Real Estate & Development 75%

▪ Hotel Business 20%

• BOT & Income Properties 5%

==> picture [390 x 355] intentionally omitted <==

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

BOT &
Income
Properties
Hotel
Business
Real Estate &
Development
----- End of picture text -----

==> picture [33 x 23] intentionally omitted <==

29

Prince Housing & Development Corp.

Future Strategy

未來營運方針 Future Strategy

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

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

Forward
China
----- End of picture text -----

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

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

Create high
value-added
----- End of picture text -----

==> picture [219 x 351] intentionally omitted <==

==> picture [33 x 23] intentionally omitted <==

30

Prince Housing & Development Corp.

Future Strategy

31

Prince Housing & Development Corp.

Thank you for your support

==> picture [33 x 23] intentionally omitted <==

Prince Housing & Development Corp.