Primax — Interim / Quarterly Report 2017

Oct 30, 2017

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Primax Electronics (4915 TT)
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3Q17 E arn ngs oni C ference 30 Oct 2017

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3Q17 Result

、 、 Record Q3 GM EPS Record PBT PAT

Amount：NTD M Net Sales COGS Gross Profit Gross Margin Operating Expense Operating Expense % Operating Income Operating Margin Non-operating Items f Income be ore Tax Income Tax Net Income (Loss) from Continuing Operation Income (Loss) from Discontinued Operations Net Income Net Margin Net income attributed to Primax EPS (NT$)	Q3 17		Q2 17	Q3 16	QoQ	YoY -18.9% 1.3% 1.9% -28.9% -0.6% 11.9% 10.2% 1.4% 0.9% 10 2% .
	14,997		13,835	18,488	8.4%
	13,016		12,052 1,783	16,295 2,193
	1,981
	13.2%		12.9%	11.9%	0.3%
	1,382		1,191 8.6% 592 4.3% 88 680 183	1,351 7.3% 842 4.6% (46) 797 214	0.6% 1.2% -0.3% 31.0%
	9.2%
	599
	4.0% 292
	891
	249
	642		497	583	29.3%
			0	50
	0
	642		497	633	29.3%
	4.3% 619		3.6% 462 1.05	3.4% 562 1.28	0.7% 34 0% .
	1.40

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Quarterly Sales

Amount ： NTD M

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25,000
19,734
20,000
18,488
17 221, 17 535,
14,900 14,997
15,000
13,405 13,835
12,881
10,000
5,000
0
3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17
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、 Gross Profit Gross Margin

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Gross Profit
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Gross Margin
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Amount ： NTD M

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2,400
14.5%
2,193
2,105
2,085
2,100
1 981, 13.5% 13.2%
1,845 1,783 12.9%
1,800 12.5%
1,561 1,618 12.5%
12.0%
11 9%.
1,500 1,408
11.5%
1,200 10.7%
10.6% 10.5% 10.5%
10 5%.
900
9.5%
600
8.5%
300
0 7.5%
3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17
3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17
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、 Operating Profit Operating Margin

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Operating Profit
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Operating Margin
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Amount ： NTD M

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6.0%
1,000
900
842
5.0% 4.6%
800 759
4.3%
4.2%
678 3.9% 3.9% 4.0%
700
4.0%
597 592 599 3.5%
600
536 3.0%
2.8%
500 3.0%
423
398
400
2.0%
300
200
1.0%
100
0 0.0%
3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17
3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17
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EPS

Amount ： NTD

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1.60
1.40
1.40
1.28
1.19
1 20. 1 15. 1.15
1.05
1.02
1.00 0.95
0.91
0.80
0.60
0.40
0.20
0.00
3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17
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3Q17 Balance Sheet

	Selected items from Balance Sheet (Amount：NTD M) Cash Notes and Accounts receivable Inventory Total Current Assets Fixed Assets Total Assets Notes and Accounts Payable S-T Borrowings CPLTD Total Current Liabilities L-T Borrowings Total Liabilities Total Equity	Amt % 5,860 16% 2017/9/30 12,205 34% 7,087 20% 26,928 74% 4,535 13%	Amt % 5,860 16% 2017/9/30 12,205 34% 7,087 20% 26,928 74% 4,535 13%	Amt % 5,860 16% 2017/9/30 12,205 34% 7,087 20% 26,928 74% 4,535 13%	Amt % 6,701 16% 2016/9/30 14,593 35% 6,449 16% 32,093 78% 4,760 12% 41 241 100% , 16,158 39% 2,892 7% 716 2% 25 991 63% , 219 1% 28,055 68% 13,185 32% 70 112 30 (12) 123.5 68.0 12.2% 16.3%
		2017/9/30
		Amt 5,860 12,205 7,087 26,928 4,535	%
			16% 34% 20% 74% 13%
		36 165 ,	100%
		14,386 1,983 136 21 827 , 83	40% 5% 0% 60% 0%
		23,459 12,706	65% 35%
	Key Indices AR Turnover (days) AP Turnover (days) Inventory Turnover (days) Cash Conversion Cycle (days) Current Ratio (%) Total Liabilities-to-Assets Ratio (%) Return on Equity (%) Return on Equity-Annualized (%)	71 118 34 (13) 123.4 64.9 12.3% 16.6%

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3Q17 Cash Flow

	Amount：NTD M	Q3 17 YTD	Q3 16 YTD (333) 1,991 203 2,194 1,231 (959) (2 009) , (275) (515) (863) (634) 0 (440) 220 (9) 510 1,909 (418) (928) 16 (70) (686) (237) 7,623 6,701
	From Operation	547
	Continuing operation income before tax Discontinued operation income before tax - Income before tax - Depreciation and amortization - Notes and Accounts receivable Notes and Accounts payable - - Inventory - Other Operating Sources / (Uses)	2,161 0 2,161 808 1,849 (2 821) , (142) (1,308)
	From Investment	(1,511)
	Fi d A - xe ssets - Acquisition of subsidiaries' shareholding - Cash from Non-Current Assets Held for Sale - Proceeds from disposal of available-for-sale financial assets -Other Investing Sources / (Uses)	(830) (606) 0 (21) (54)
	From Financing	509
	- S-T Borrowings - L-T Borrowings Cash Di idend - v - Exercise of ESOP - Other Financing Sources / (Uses)	1,983 (382) (1 112) , 13 7
	Net Cash Position Change Effect of foreign currency exchange translation Cash at beginning of year	(455) (45) 6,360
	Ending Cash Balance	5,860

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、
4Q17 2018 Outlook
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• Tymphany ‐ Expect record top‐line

• k er eman d d s

• Strong smart spea

• Primax ‐ Expect top‐line peak of the year

• Increasing dual‐camera contributions

• 2018 Expand top‐line and stabilize earnings structure

• Non‐smartphone camera applications

• Tymphany ‐ Continuous top‐line upward trend

• Increasing contributions from smart spearkers and headphones

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Thank you!
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10

Note

 All fi ures stated above are unaudited and sub ect to audit g j amendments

 All number has reflected Global Tek restatement

 Record Quarter  Historical Record High

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Safe Harbor Notice
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• We have made forward‐looking statements in the presentation. Our forward‐looking statements contain information regarding, among other things, our financial conditions, future expansion plans and business strategies. We have based these forward‐looking statements on our current expectations and projections about future events. Although we believe that these expectations and projections are reasonable, such forward‐looking statements are inherently subject to risks, uncertainties, and assumptions about us.

• We undertake no obligation to publicly update or revise any forward looking statements whether as a result of new information, future events or otherwise. In light of these risks, uncertainties and assumptions, the forward‐looking events in the conference might not occur and our actual ‐

• results could differ materially from those anticipated in these forward looking statements .

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