Primax — Interim / Quarterly Report 2018

Dec 3, 2018

==> picture [123 x 86] intentionally omitted <==

==> picture [446 x 45] intentionally omitted <==

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

致伸科技 (4915 TT)
----- End of picture text -----

3Q18 財報法說

31 Oct 2018

1

==> picture [416 x 49] intentionally omitted <==

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

3Q18 營運成果
----- End of picture text -----

、 、 Record Q3 REVENUES GP EPS

Amount：NTD M	Q3 18		Q2 18	Q3 17	QoQ	YoY	YoY
Net Sales	19,608		14,798	14,997	32.5%		30.7%
COGS Gross Profit	17,266		13,081 1,716	13,016 1,981
	2,342
Gross Margin	11.9%		11.6%	13.2%	0.3%
Operating Expense Operating Expense % Operating Income Operating Margin Non-operating Items Income before Tax Income Tax	1,610		1,320 8.9% 396 2.7% 47 443 92	1,382 9.2% 599 4.0% 292 891 249	-0.7% 84.6% 1.1% 89.2%
	8.2% 732
	3.7% 107
	838
	120
Net Income	718		351	642	104.7%
Net Margin Net income attributed to Primax EPS (NT$)	3.7% 665 1.50		2.4% 339 0.76	4.3% 619 1.40	1.3% 96.2%

2

==> picture [499 x 49] intentionally omitted <==

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

季營收
----- End of picture text -----

Amount ： NTD M

25,000

20,000

15,000

10,000

5,000

0

18,488

==> picture [38 x 228] intentionally omitted <==

17,535

==> picture [37 x 216] intentionally omitted <==

13,835 12,881

==> picture [37 x 171] intentionally omitted <==

==> picture [38 x 159] intentionally omitted <==

14,997

==> picture [38 x 185] intentionally omitted <==

19,028

==> picture [37 x 235] intentionally omitted <==

11,884

==> picture [38 x 147] intentionally omitted <==

14,798

==> picture [37 x 183] intentionally omitted <==

19,608

==> picture [41 x 242] intentionally omitted <==

3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18

3

==> picture [499 x 49] intentionally omitted <==

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

營業毛利、營業毛利率
----- End of picture text -----

Gross Profit

Gross Margin

Amount ： NTD M

==> picture [327 x 341] intentionally omitted <==

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

2,400 2,342
2,193
2,105 2,101
2,100
1,981
1,783
1,800 1,716
1,615
1,500 1,460
1,200
900
600
300
0
3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18
----- End of picture text -----

==> picture [315 x 325] intentionally omitted <==

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

16.0%
15.0%
14.0%
12.9% 13.2%
13.0%
11.9% [12.0% 12.5% ] 12.3%
11.0% 11.6% 11.9%
12.0%
11.0%
10.0%
9.0%
8.0%
7.0%
6.0%
5.0%
4.0%
3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18
----- End of picture text -----

4

==> picture [499 x 49] intentionally omitted <==

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

營業淨利、營業淨利率
----- End of picture text -----

Operating Profit

Operating Margin

==> picture [80 x 8] intentionally omitted <==

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

Amount ： NTD M
----- End of picture text -----

==> picture [680 x 333] intentionally omitted <==

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

8.0%
1,000
7.0%
900 842
6.0%
4.6%
800
732 5.0%
711 4.1% 4.1% [4.3% ] 4.0%
700 3.7%
4.0%
592 599 2.7%
600 3.0% 2.5% 2.1%
534
2.0%
500 475
1.0%
396
400
0.0%
3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18
300 244 -1.0%
200 -2.0%
-3.0%
100
-4.0%
0
-5.0%
3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18
----- End of picture text -----

5

==> picture [499 x 49] intentionally omitted <==

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

每股盈餘
----- End of picture text -----

Amount ： NTD

==> picture [642 x 381] intentionally omitted <==

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

1.60
1.50
1.40
1.40
1.28 1.27
1.19
1.20
1.05
1.00 0.95
0.80
0.76
0.80
0.60
0.40
0.20
0.00
3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18
----- End of picture text -----

6

==> picture [571 x 49] intentionally omitted <==

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

2018 年第三季資產負債表
----- End of picture text -----

8年第三季資產負債	表	表
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	2018/9/30			2017/9/30
	Amt 3,881 17,859 7,838 31,640 4,968	%		Amt % 5,860 16% 12,205 34% 7,087 20% 26,928 74% 4,535 13%
		9% 42% 18% 74% 12%
	42,618	100%		36,206 100%
	18,505 2,366 67 26,481 234	43% 6% 0% 62% 1%		14,386 40% 1,983 5% 136 0% 21,868 60% 83 0%
	28,263 14,354	66% 34%		23,499 65% 12,706 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-annualized (%)	76 117 47 7 119.5 66.3 16.3%			71 114 46 3 123.1 64.9 17.1%

7

==> picture [587 x 49] intentionally omitted <==

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

2018 年第三季現金流量表
----- End of picture text -----

Amount：NTD M	Q3 18 YTD	Q3 17 YTD
From Operation	(1,184)	524
- Income before tax - Depreciation and amortization - Notes and Accounts receivable - Notes and Accounts payable - Inventory - Other Operating Sources / (Uses)	1,734 1,190 (4,388) 2,002 (801) (921)	2,161 1,122 1,849 (2,821) (142) (1,645)
From Investment	(2,164)	(1,488)
- Fixed Assets - Acquisition/sale of subsidiaries' shareholding - Changes in Equity investments under equity method - Other Investing Sources / (Uses)	(1,273) 0 (982) 91	(830) (606) 0 (52)
From Financing	(376)	509
- S-T Borrowings - L-T Borrowings - Cash Dividend - Other Financing Sources / (Uses)	1,173 (138) (1,430) 20	1,983 (382) (1,112) 20
Net Cash Position Change Effect of foreign currency exchange translation Cash at beginning of year	(3,724) (216) 7,821	(455) (45) 6,360
Ending Cash Balance	3,881	5,860

8

==> picture [499 x 49] intentionally omitted <==

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

、
4Q18 2019 營運展望
----- End of picture text -----

• 維持穩定獲利結構

• Tymphany 高階聲學及消費智能應用平衡發展 整體需求強勁

 2019 營收增長 優化獲利結構  Tymphany 維持強勁成長動能 耳機營收佔比提高  非手機市場 Camera 營收成長  光學、聲學技術結合產品

9

==> picture [528 x 40] intentionally omitted <==

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

Thank you!
----- End of picture text -----

10

Note

 All figures stated above are unaudited and subject to audit amendments

 Record Quarter  Historical Record High

11

==> picture [499 x 49] intentionally omitted <==

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

Safe Harbor Notice
----- End of picture text -----

• 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.

12