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Raydium — Call Transcript 2024
Feb 29, 2024
52350_rns_2024-02-29_fccc0a1f-7570-4bda-89f2-dcc2497d9e1e.pdf
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瑞鼎科技 . Raydium Semiconductor Corp 4Q23 Earnings Conference
2024/02/29
DISCLAIMER
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The content mentioned in this presentation is the information obtained by the based on information and current situation. If there is further
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company company development or adjustment in the future, the company will disclose the information in accordance with the law, but will not update or amend this presentation.
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The content of this report is not investment advice.
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Confidential. © Raydium, all rights reserved.
Agenda
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Company Facts
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4Q23 Financial Result
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3
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Recent Major Events and Key Messages
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4
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Q&A
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Confidential. © Raydium, all rights reserved.
1
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Company Facts
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2 4Q23 Financial Result 3 Recent Major Events and Key Messages
4 Q&A
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Confidential. © Raydium, all rights reserved.
Company Introduction
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Confidential. © Raydium, all rights reserved.
Revenue Mix by Product Line - FY2023
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Large-Sized Small & Medium
Automotive &
Display Driver IC TCON & PMIC
Display Driver IC
GD
(LDDI)
(SMDDI-AMOLED)
TV Mobile/Tablet/NB CID/ICD/HUD TV
Monitor Wearable General Display Monitor
NB NB
Mobile / Wearable
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43%
47%
16%
13%
4%
3%
37%37%
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Confidential. © Raydium, all rights reserved.
Product Line - Merge LDDI and T-con/PMIC since 2024
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Large-Sized Small & Medium
Automotive &
Display Driver IC Display Driver IC
GD
(LDDI) (SMDDI-AMOLED)
TV Mobile/Tablet/NB CID/ICD/HUD
Monitor Wearable General Display
NB
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43%
16%
41%
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Confidential. © Raydium, all rights reserved.
Products for Applications
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LCD
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AMOLED
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Confidential. © Raydium, all rights reserved.
Consolidated Revenue (2019~2023)
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Unit：NT Billion
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LDDI SMDDI Automotive/GD TCON/PMIC
30
24.83
25
22.82
18.35
20
13.93 14.43
15
10
5
2019 2020 2021 2022 2023
Confidential. ©©
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Confidential. ©© Raydium, all rights reserved.
1 Company Facts 2 4Q23 Financial Result 3 Recent Major Events and Key Messages 4 Q&A
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Confidential. © Raydium, all rights reserved.
Consolidated Income Statement (4Q23 QoQ &YoY)
Unit: NTD Million
(Dollar)
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Confidential. © Raydium, all rights reserved.
Consolidated Income Statement (2023 YoY)
Unit: NTD Million
(Dollar)
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Confidential. © Raydium, all rights reserved.
Consolidated Balance Sheets -2023/12/31
Unit: NTD Million
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Confidential. © Raydium, all rights reserved.
Consolidated Revenue (4Q22~4Q23)
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LDDI SMDDI Automotive/GD TCON/PMIC
Unit: NT Billion
9
8
7
6
4.75 5.02 4.92
5
4.20
3.66
4
3
2
1
4Q22 1Q23 2Q23 3Q23 4Q23
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Confidential. © Raydium, all rights reserved.
Revenue Mix by Product Line (4Q22~4Q23)
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LDDI SMDDI Automotive/GD TCON/PMIC
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UNIT：%
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100%
4% 5% 4% 4% 3%
14%
18% 16% 17%
20%
80%
60%
41% 37% 42% 42%
40%
50%
20%
37% 38% 38% 37% 33%
0%
4Q22 1Q23 2Q23 3Q23 4Q23
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Confidential. © Raydium, all rights reserved.
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1 Company Facts
2 4Q23 Financial Result
3 Recent Major Events and Key Messages
與答
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4 Q&A
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Confidential. © Raydium, all rights reserved.
- Recent Major Events 1/2
For past 5 years, cash payout ratio maintains at around 80%
Dividend and Payout Ratio
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單位：元
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100% 70
60
80% 80% 80% 80%
77%
75%
50
45.00 40
50% 41.00
30
20
25%
15.20 10
10.50
8.00
0% -
2019 2020 2021 2022 2023
Payout ratio(%) Dividend EPS
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- The payout ratio was calculated by the share count before capital increase
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Confidential. © Raydium, all rights reserved.
- Recent Major Events 2/2
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Won the SGS ESG Awards
Sustainability Report Award
02.Nov.2023
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Join "2024 TALENT, in Taiwan
Taiwan Talent Sustainability Action Alliance"
05.Feb.2024
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Confidential. © Raydium, all rights reserved.
Recent Key Messages - 1/3
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Review of 4Q23 Operational Highlights
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Increased demand for AMOLED mobile phone products due to the introduction of new products, new customers, and new models.
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Reduced momentum in shipments for large-sized driver ICs vs. 3Q23, as the 4Q23 marked the end of seasonal stocking; demand for T-con /PMIC also slowed accordingly.
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Weaker demand for automotive industrial control display driver ICs due to customers undergoing annual inventory adjustments.
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The goal of 2H23>1H23 and 2H23>2H22 in revenue are both achieved.
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Slight increase in gross profit margin in 4Q23.
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Maintained a healthy and manageable inventory level.
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Confidential. © Raydium, all rights reserved.
Recent Key Messages - 2/3
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1Q24 business highlight Demand for AMOLED mobile phone products continues to grow as new models are successively launched in response to customer needs, driving the momentum for revenue growth.
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AMOLED (TDDI) applications in the high-end wearable market are gaining favor and adoption from more customers, contributing to the growth of revenue.
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1Q is a traditional low-season for large-sized displays, leading to a slight decrease in demand for LDDI, timing control, and power management ICs.
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After the completion of customer inventory adjustments in the automotive DDIC sector, there will be a slight growth in revenue.
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Product prices continue to face downward pressure.
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Confidential. © Raydium, all rights reserved.
Recent Key Messages - 3/3
LDDI –
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PC market recovery
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Clientele expansion
AMOLED
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Smartphone ：a) higher penetration rate ; b) Foldable smartphone panel increases the usage of AMOLED DDIC
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IT : the penetration rates for NB/tablet application is expected to increase from 2024 onward.
Auto
- TDDI : The number of customer cases continues to increase
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Confidential. © Raydium, all rights reserved.
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1 Company Facts
2 4Q23 Financial Result
3 Recent Major Events and Key Messages
與答
4 Q&A
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Confidential. © Raydium, all rights reserved.
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Confidential. © Raydium, all rights reserved.
We Differentiate By Technology
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