Qisda — Interim / Quarterly Report 2024

May 8, 2024

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Participants

Chairman

President

CFO

GM, Information Technology Business Group

GM, Commercial & Industrial Business Group

GM, Medical Business Group

GM, Business Solutions Business Group GM, Networking & Communication Business Group CIO

Peter Chen Joe Huang Jasmin Hung Daniel Hsueh Yuchin Lin Harry Yang Joshua Tzeng April Huang Michael Wang

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Agenda

1. Company Profile

CFO

Jasmin Hung

2. 2024 Q1 Financial Results

3. Business Update and Outlook

Chairman Peter Chen President Joe Huang GM of each Business Group

4. Q&A

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Safe Harbor Notice

We have made forward-looking statements in the presentation. Our forwardstatements contain information other our looking regarding, among things, 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 to or revise obligation publicly update 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 might not occur and our actual results could differ materially from those anticipated in these forward-looking statements.

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Qisda Group

Qisda is a global technology group with businesses spanning information technology, medical, smart business solutions, and networking communication.

Year Established

1984

IPO Year (Ticker 2352) Capital (NTD) Awards

1996 19.7B

2024 Winning 2 Awards of FinanceAsia 2023 Winning 12 Awards of TCSA 2023 Winning 3 Awards of AREA 2023 HR Asia:

“ Best Companies to Work For” (2019 – 2023 consecutively) 2023 Winning 9 Awards of TSAA

Global Presence Manufacturing Sites ： Taiwan, China, Vietnam Sales Offices ： 200+ Locations Worldwide R&D Centers ： Taiwan, China No. of Employees ： 26,000+

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2024 Q1 Revenue
NTD $46.9B (USD$ 1.5B)
20223 Revenue
NTD $203.6B (USD$ 6.6B)
Revenue Breakdown (2024 Q1)
Asia 53%
Americas 27%
Europe 19%
Others 1%
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AREA: Asia Responsible Enterprise Awards TSAA: Taiwan Sustainability Action Awards *TCSA: Taiwan Corporate Sustainability Awards

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Business Groups

Qisda Grou p

(till 2024 Q1)

		IT			MEDICAL			BSG				NCG			OTHERS
	Information Technology							Business Solutions			Networking & Communication
		(47% + 7%)			(13%)				(16%)			(11%)			(7%)
		25.2B			5.9B			7.4B				5.2B			3.2B
	➢ ➢ ➢ ➢	Displays • Gaming • High-end • General Projectors IT_Other 17.4 B (37%) 2.2 B (5%) 2.2 B (5%) 3.3 B (7%) IT_HVA • Prof. Display Module • Integration Solutions		➢ ➢ ➢	Medical Services • Nanjiang BenQ Hospital • Suzhou BenQ Hospital • Medical Management Consulting Equipment & Consumables • Operating Table & Surgical Light • Ultrasound • Intraoral Scanner • Hearing Aids • Dentistry Consumables Dialyzer • Dialysis Equipment & Consumables • Ethanol Solution		➢ ➢ ➢	IT Intelligence Partner • AI Computing • Cybersecurity • Edge to Cloud Integration • Digital Transformation OT Intelligence Partner • Green Energy • Automation • Industrial Computer OMO Solution			➢ ➢ ➢ ➢	LAN/MAN • Data Switch Wireless Broadband • Small Cell • Wireless Router Digital Multimedia • IP Camera • mmWave Radar System Integration • Network System Service • Digital Media System Service		➢ Equity Method • Darfon • Norbel Baby • Rapidtek • Topview ➢ FVOCI KEY INVESTMENTS ➢ Material • Functional Film • Advanced Battery Materials ➢ Other products
															• AUO

Revenue (NTD)

• Purple columns represent “high value-added businesses”, which account for 50% of total revenue in 2023.

• Medical, BSG, NCG 2023 revenue scale is between NTD 20B to 35B, reaching a meaningful economies of scale.

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2024 Q1 Highlights

◆ Gross margin was 16.0% (YoY +0.2ppt), exceeding 16% for four consecutive quarters.

• Revenue was 46.9B (YoY -7%), net income attributable to Qisda was 0.26B (YoY -70M), EPS was

• 0.13 (YoY -0.03).

◆ IT_Original revenue was 21.9B (YoY +200M, +1%).

• Display: Revenue grew 1.1B, +7% YoY. GM%, OI% and OI amount grew YoY.

◆ HVA business revenue was 21.8B (YoY -4.2B, -16%).

• Medical: Revenue grew 3% YoY. GM% and OI% decreased YoY.

• BSG: Revenue decreased 8% YoY. GM% and OI% decreased YoY.

• NCG: Revenue decreased 34% YoY. OI amount decreased YoY due to inventory adjustments on client side.

• IT_HVA: Revenue decreased 24% YoY, mainly due to the accounting treatment of TopView changed to equity method from consolidated subsidiary.

• BenQ BM Holding Cayman Corp. submitted its listing application to the Main Board of The Stock .

• Exchange of Hong Kong Limited on April 3[rd]

◆ Winning FinanceAsia Asia’s Best Companies 2024.

• Best Technology Company, Bronze Medal.

• Best Investor Relations, Taiwan, Silver Medal.

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Consolidated Statement of Comprehensive Income (Quarterly)

Unit : NT$ Million

Net Sales

Cost of Goods Sold

Gross Margin Operating Expenses Operating Income Net non-operating Income Profit(Loss) before Tax Net Income

Net income attributable to Qisda EPS (NT$) (a)

	46,914 100% (39,404) 7,511 16.0% (6,583) -14.0% 927 2.0% (125) 802 1.7% 395 0.8% 257 0.5% $0.13 2024 Q1		50,446 100% (42,451) 7,995 15.8% (6,645) -13.2% 1,350 2.7% (121) 1,229 2.4% 757 1.5% 324 0.6% $0.16 2023 Q1	amt g% (3,531) -7% 3,047 (484) -6% 62 (423) -31% (4) (427) -35% (363) -48% (67) -21% -$0.03 YoY	50,667 100% (42,461) 8,207 16.2% (7,339) -14.5% 868 1.7% (5) 862 1.7% 675 1.3% 426 0.8% $0.22 2023 Q4	amt g% (3,753) -7% 3,057 (696) -8% 756 60 7% (120) (60) -7% (280) -41% (169) -40% -$0.09 QoQ

(a) EPS was calculated based on total weighted-averaged outstanding shares (1,967m shares)

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Consolidated Balance Sheet Highlights

Unit : NT$ Million

Cash & Equivalent Accounts Receivable Inventory L-T Investments Financial assets at fair value through other comprehensive income–non-current Total Assets Fin. Debt Accounts Payable Toal Liabilities Equity		29,684 15% 37,572 19% 36,652 19% 8,588 4% 195,131 100% 72,204 37% 27,934 14% 131,849 68% 63,282 32% 12,322 6% 2024.03.31		25,473 14% 38,042 20% 37,931 20% 8,314 4% 188,424 100% 64,521 34% 30,468 16% 124,330 66% 64,094 34% 12,070 6% 2023.12.31	amt g% 4,212 17% (470) -1% (1,279) -3% 274 3% 6,707 4% 7,683 12% (2,534) -8% 7,519 6% (811) -1% 252 2% QoQ	amt g% 36,554 18% (6,870) -19% 37,472 18% 100 0% 39,656 19% (3,004) -8% 5,297 3% 3,291 62% 203,893 100% (8,762) -4% 70,271 34% 1,934 3% 27,910 14% 24 0% 135,815 67% (3,967) -3% 68,078 33% (4,795) -7% 12,539 6% (216) -2% 2023.03.31 YoY

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Financial Ratios

AR Turnover (Days) Inventory Turnover (Days) AP Turnover (Days) Cash Conversion Cycle (Days) Current ratio

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2024.03.31 2023.12.31 QoQ 2023.03.31 YoY
76 73 +3 75 +1
86 88 -2 90 -4
68 64 +4 61 +7
93 97 -4 104 -11
123% 127% -4 ppt 136% -13 ppt
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Financial Trend – Quarterly Trend

⚫ Q1 Gross Margin was 16.0%, exceeding 16% for four consecutive quarters.

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NT$ 100M Revenue
1,000
g% -10% 3% -3% 1% -7%
500
504 521 504 507 469
0
Q1'23 Q2'23 Q3'23 Q4'23 Q1'24
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NT$ 100M Operating Income (OI)
40
g% -9% 7% -6% -36% 7%
20
13.5 14.4 13.5
8.7 9.3
0
Q1'23 Q2'23 Q3'23 Q4'23 Q1'24
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GM% & OI%
%
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15.8 16.3 16.6 16.2 16.0
15
10
5 2.68 2.77 2.68
1.71 1.98
0
Q1'23 Q2'23 Q3'23 Q4'23 Q1'24
GM% OI%
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% GM% & OI% (Yearly)
20
16.2 16.0
14.0 14.4 14.4
15
10
5 3.45 3.26
2.44 2.46 1.98
0
2020 2021 2022 2023 20242024
Yearly Yearly Yearly Yearly Q1
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Financial Trend – Q1 YOY

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NT$ 100M Revenue
1,000
g% -2% 30% 20% -17% -7%
500
609
509 504 469
392
0
Q1'20 Q1'21 Q1'22 Q1'23 Q1'24
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GM% & OI%
%
20
15.8 16.0
14.7
15 13.4 12.9
10
5 3.37
2.65 2.17 2.68 1.98
0
Q1'20 Q1'21 Q1'22 Q1'23 Q1'24
GM% OI%
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Operating Income (OI)

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NT$ 100M
40
g% -28% 66% -23% 2% -31%
20
17.2
13.2 13.5
10.4 9.3
0
Q1'20 Q1'21 Q1'22 Q1'23 Q1'24
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YTD GM% & OI%
%
20
15.8 16.0
14.7
15 13.4 12.9
10
5 3.37
2.65 2.17 2.68 1.98
0
2020 2021 2022 2023 20242024
Q1 Q1 Q1 Q1 Q1
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Business Group Revenue Trend – Quarterly Trend

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High-value added (HVA) Medical BSG
NT$ 100M NT $ 100M NT$ 100M
g%g% -7%-7% 2%2% -9%-9% 1%1% -11%-11% g% 4% 7% 1% 6% -10% g% -3% 1% 4% -7% -6%
300 100 100
250 80 80
200
60 60
150
100 260 264 242 245 218 40 57 61 62 66 59 40 81 82 85 79 74
20 20
50
0 0 0
Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24
NT$ 100M NCG NT$ 100M IT_HVA NT$ 100M IT_Original
g% -15% -2% -24% 16% -24% g% -13% 2% -17% -9% -1% g% -15% 3% 3% 3% -8%
100 100 300
250
80 80
200
60 60
150
40 79 77 68 40 100 217 224 230 237 219
59
20 52 20 43 44 36 33 33 50
0 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 0 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 0 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24
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• High-Value added (HVA)= Medical + BSG+ NCG + IT_HVA

• IT_Original = Displays + Projectors + IT_Other

• IT_HVA: TopView was changed to equity method from consolidated subsidiary

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Financial highlights by Business Group – Q1

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NT$ 100M
2024 Q1 YoY QoQ
Business Group Revenue Revenue
Revenue GM% Revenue GM% Revenue GM%
Revenue Growth Growth
Portion Range Amount Range Amount Range
Rate Rate
Medical 13% 59 20-25 +2 +3% unchanged -6 -10 % unchanged
BSG 16% 74 15-20 -7 -8 % unchanged -4 -6% downward
NCG 11% 52 15-20 -27 -34 % unchanged -16 -24% unchanged
IT_HVA 7% 33 20-25 -10 -24 % unchanged -0 -1% unchanged
IT_Original 47% 219 10-15 +2 +1% unchanged -18 -8 % unchanged
Others 7% 32 10-15 +4 +16% downward +8 +32% downward
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• IT_HVA: TopView was changed to equity method from consolidated subsidiary

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Revenue Breakdown by Business (Quarterly)

0% 20% 40% 60% 80% 100%	34% 33% 32% 33% 36% 37% 37% 6% 7% 6% 5% 5% 5% 5% 8% 6% 5% 4% 4% 4% 5% 9% 9% 9% 8% 7% 7% 7% 9% 10% 11% 12% 12% 13% 13% 14% 15% 16% 16% 17% 16% 16% 15% 16% 16% 15% 12% 13% 11% 5% 5% 5% 6% 6% 5% 7% Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Materials and Others NCG BSG Medical IT_HVA IT_Other Projector Display

• *BSG: Business Solutions Group

• *IT: IT products

• *IT_Other: other IT products

• *NCG: Networking and Communication Group

• *IT_Display: Displays

• *IT_Projector: Projectors

• *Medical: medical services, equipment & consumables, dialyzer, medical management consulting

• *IT_HVA: prof. display module, integrated solutions, high-end video surveillance

• (TopView was changed to equity method from consolidated subsidiary)

• *Materials and Others: BenQ Materials and other products

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Qisda Group’s Listed Companies Results (YoY)

			2024 Q1	2024 Q1	2024 Q1		2023 Q1	2023 Q1	2023 Q1		YoY Differences	YoY Differences	YoY Differences
Business Group	Company	Qisda's stake	Revenue (NTD Million)	Net Income (NTD Million)	EPS (NTD)		Revenue (NTD Million)	Net Income (NTD Million)	EPS (NTD)		Revenue (NTD Million) YoY%	Net Income (NTD Million) YoY%	EPS (NTD)
IT	DataImage (ROTC)	38.4%	861	48	0.69		1,070	79	1.13		-208 -19%	-31 -39%	-0.44
	SIMULA(OTC)	51.1%	352	-48	-0.59		753	-2	-0.03		-400 -53%	-45 -1956%	-0.56
Medical	BenQ Medical Tech(OTC)	55.0%	1,057	23	0.51		1,054	23	0.51		3 0%	0 0%	+0.00
	ConcordMed(ROTC)	22.0%	207	10	0.30		198	9	0.26		9 4%	1 14%	+0.04 highest in the same period in 2years
	DIVA(OTC)	13.6%	222	24	0.42		249	21	0.37		-27 -11%	3 14%	+0.05 highest in the same period in 9years
BSG	DFI(TSE)	55.1%	1,906	52	0.45		2,548	125	1.10		-642 -25%	-73 -58%	-0.65
	AEWIN(OTC)	28.3%	423	6	0.10		507	14	0.24		-84 -17%	-8 -54%	-0.14
	Ace Pillar(TSE)	26.5%	702	0	0.002		800	1	0.010		-98 -12%	-1 -87%	-0.008
	Partner Tech(ROTC)	68.2%	680	27	0.36		614	4	0.05		66 11%	23 617%	+0.31 highest in the same period in 2years
	MetaAge (TSE)	51.4%	4,749	192	1.02		4,673	220	1.17		76 2%	-28 -13%	-0.15
NCG	Alpha(TSE)	60.0%	5,180	67	0.12		7,869	174	0.32		-2,689 -34%	-107 -62%	-0.20
	Hitron(TSE)	37.3%	2,110	-29	-0.09		2,811	29	0.09		-701 -25%	-58 -203%	-0.18
	IDT(OTC)	18.7%	433	63	1.36		333	29	0.73		100 30%	34 116%	+0.63 highest in the same period in 5years
Materials	BenQ Materials (TSE)	43.6%	4,593	36	0.11		4,067	50	0.16		526 13%	-13 -27%	-0.05

IT : TopView was changed to equity method from consolidated subsidiary.

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2024 Q2 Outlook

➢ The pace of economic recovery has been slower than expected.

• Due to macroeconomic challenges in the global market such as peak interest rates and regional conflicts, the pace of recovery has been slower than anticipated.

• The demand and supply for displays have been gradually returning to order, but the demand for commercial products is still flat.

• Industrial computer and networking and communication products are still in the inventory adjustment stage.

• ➢ Invest in mid- to long-term business drivers.

◆ High Value-added business:

• Medical: Hospital operation remains optimistic, and the listing application has been submitted to HKEX. Medical consumables and devices continue to expand overseas.

• BSG actively participates in international exhibitions to connect customers with business partners and explore new business opportunities.

• NCG expedites development opportunities in emerging markets.

• IT business: Despite the conservative demands during the traditional slow season in Q2, the sales volume is expected to increase YoY and QoQ through product mix optimization.

• Lean and focused: continuously optimize the organization and invest in businesses with growth potential.

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2024 Strategic Directions

IT

• Continuous development high-end displays such as OLED display and medical displays

• Utilize VN leading advantages, continue to increase yield and add new product lines to expand benefits

• Development in interactive flat panel display

• Expansion in medical oral scanner

BSG

• Edge to Cloud Integration

• Cybersecurity

• HPC (AI computing)

• Green energy, automation (smart manufacturing), new infrastructure

Medical

• Medical devices and pharmaceuticals as dual growth engines to expand in distribution channels

• In-depth development in dialysis market

• Expansion in healthcare service

• Development in smart healthcare

NCG

• Increase penetration in telecom markets

• Investment in low earth orbit satellite technologies

• Enlarge 5G market share

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