RECHI — Investor Presentation 2021

Sep 29, 2021

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法人說明會

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會議議程

• 致歡迎詞

• 2021年H1營運成果

楊正民副董事長 柯志成副總經理

• 2021年H1市場回顧及Q4展望

• 未來發展策略

馮明法總經理 馮明法總經理

• 問題與討論

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免責聲明

• 就本次說明會，本公司所提供之資訊及陳述(包含預測性、前瞻性)，將配合市場經濟、商業變化及綜合 評估下進行調整，未來實際狀況可能與本次說明會資訊、陳述有所相異，對此本公司並不保證本說明會 之資訊及陳述具永久正確、真實性，且本公司不因未來任何新事件、資訊之發生，而負有更新、修正之 義務及責任。

• 除因相關法令規定要求公司之資訊外，投資人對於本公司現狀之期待及預測性、前瞻性陳述，實際執行 本公司得視當下狀況及事實，進行更動、調整，並不因本說明會之資訊、陳述而負有履行義務或保證。

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營運成果

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綜合損益表

綜合損益表
單位:NT 仟元	2021年H1實際	%	2020年H1實際	同比差異	成長率%
壓縮機銷售量(台)	11,100,862		9,118,473	1,982,389	21.74
銷貨收入 12,112,043 100.00 9,479,782 2,632,261 27.77
銷貨成本 -10,743,410 -88.70 -8,303,967 -2,439,443 -29.38
銷貨毛利 1,368,633 11.30 1,175,815 192,818 16.40
營業費用 -943,726 -7.79 -685,187 -258,539 -37.73
營業淨利 424,907 3.51 490,628 -65,721 -13.40
營業外收支 41,954 0.35 32,867 9,087 27.65
稅前淨利 466,861 3.85 523,495 -56,634 -10.82
所得稅費用 -123,861 -1.02 -155,551 31,690 20.37
合併總純益 343,000 2.83 367,944 -24,944 -6.78
基本EPS	0.68		0.70

*財報數字係經由會計師核閱簽證

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資產負債表

單位:NT 仟元	2021年H1	%	2020年H1	%	YoY	%
現金及約當現金	2,839,823	9.45	2,041,265	7.71	798,558	39.12
應收帳款淨額	9,634,758	32.07	8,619,083	32.56	1,015,675	11.78
存貨	2,930,671	9.76	1,846,091	6.97	1,084,580	58.75
其他流動資產 5,864,451 19.52 4,792,017 18.10 1,072,434 22.38
流動資產小計 21,269,703 70.80 17,298,456 65.34 3,971,247 22.96
固定資產淨額	7,135,551	23.75	7,179,583	27.12	-44,032	-0.61
其他資產	1,636,517	5.45	1,995,197	7.54	-358,680	-17.98
資產合計 30,041,771 100.00 26,473,236 100.00 3,568,535 13.48
短期借款	2,143,698	7.14	2,055,867	7.77	87,831	4.27
應付帳款淨額	10,576,135	35.20	6,933,984	26.19	3,642,151	52.53
其他流動負債 2,545,975 8.47 2,377,220 8.98 168,755 7.10
流動負債合計 15,265,808 50.82 11,367,071 42.94 3,898,737 34.30
長期借款	3,298,063	10.98	5,446,037	20.57	-2,147,974	-39.44
其他負債	843,043	2.81	664,849	2.51	178,194	26.80
負債合計 19,406,914 64.60 17,477,957 66.02 1,928,957 11.04 股東權益合計 10,634,857 35.40 8,995,279 33.98 1,639,578 18.23

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*財報數字係經由會計師核閱簽證

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現金流量表

現金流量表
單位:NT 仟元	2021年H1	2020年H1
期初現金	3,576,943	1,158,126
營運活動之淨現金流入 862,613 1,999,303
投資活動之淨現金流入	188,343	-312,820
短期借款和應付短期票券 -991,236 -558,970
長期借款	-700,000	-57,920
其他 -96,840 -186,454
期末現金餘額	2,839,823	2,041,265

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*財報數字係經由會計師核閱簽證

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市場回顧及展望

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迴轉式壓縮機應用

製冷 製熱 乾燥 除濕

瑞智創造節能產品應用的無限可能，深受全球知名家電客戶肯定!

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窗型空調 家用空調 商用空調
Petcool
滾筒式洗衣機 Personal A/C 移動式微型冷藏箱
除濕機
(洗脫烘) Mini dehumidifier
櫃機空調 車頂空調
熱泵洗碗機 熱泵乾衣機 熱泵熱水器 工業冷卻 穿戴式空調
移動式空調 單元式空調
潛在應用
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2021年壓縮機全球產能狀況

壓縮機產能經歷短缺-平衡-富餘，2021年壓縮機產能持續擴張，中國迴轉式壓縮機 。 產能占全球90%，中國家用空調產能占全球82%

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32,530
中國家用空調產能 中國迴轉式壓縮機產能
30,930
29,933
29,933
全球家用空調產能 全球迴轉式壓縮機產能 29,160
27,560
24,460
單位:萬台
2016 年 2017 年 2018 年 2019 年 2020 年 2021 年
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2020年中國迴轉式壓縮機銷量

10,000.00 12,000.00 14,000.00 16,000.00 18,000.00 20,000.00 22,000.00 24,000.00	13,362.19 15,162.54 19,272.48 20,604.00 21,518.10 21,155.10 單位:萬台	13,362.19 15,162.54 19,272.48 20,604.00 21,518.10 21,155.10 單位:萬台	13,362.19 15,162.54 19,272.48 20,604.00 21,518.10 21,155.10 單位:萬台	13,362.19 15,162.54 19,272.48 20,604.00 21,518.10 21,155.10 單位:萬台	13,362.19 15,162.54 19,272.48 20,604.00 21,518.10 21,155.10 單位:萬台	13,362.19 15,162.54 19,272.48 20,604.00 21,518.10 21,155.10 單位:萬台

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2021年家用及商用空調市場預測(RAC/PAC)

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RAC: Room Air Conditioners that excluded Portable A/C and Dehumidifier

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2021年H1家用空調市場消長狀況

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2021年Q4終端市場銷量展望(YoY)

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北美市場
歐洲市場
中國市場 東亞市場
北非/中東/
西亞市場
南亞市場
東南亞市場
中南美市場
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未來發展策略

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發展策略

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追求 創造
新節能
市場需求
市場機會
價值革新
策略
新節能
技術革新
產品
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2021H1銷售實績-應用平台別

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穿牆機 其他 車載空調
unitary 2% 1% 1% 120.0% 108.0% 同比變化
4%
100.0%
窗機
除濕機 5%
80.0%
6%
移動空調 分體機
60.0%
12% 49%
44.8% 43.6%
40.0%
乾衣機 23.6%
20% 20.0%
5.9% 4.3%
0.0%
分體機 乾衣機移動空調 除濕機 窗機 unitary 穿牆機 其他 車載空調
-20.0% -12.8% -14.3%
-40.0% 註:車載空調因基期較低同比增長419%
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2021H1銷售實績-終端市場

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同比變化
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中南美 中東(含非洲/中亞/西亞) 南亞
5% 5% 1%
東南亞 60.0%
52.8%
8%
43.5%
歐洲
37.3%
40.0%
29%
東亞
8%
21.0% 21.2%
20.0%
北美
中國
19% 0.0%
25%
-20.0% -13.7%
-22.5%
-40.0%
-38.5%
-60.0%
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重點產品及市場發展方針

• ⚫ 家用空調-分體機 成熟市場 → 追求市場佔有率提升

• ⚫ 熱泵乾衣機

高速成長市場 → 產品競爭處領先地位，持續保持市場佔有率及拓展新市場

• ⚫ 一體機(窗機、除濕機、移動空調) 成熟市場 → 提升產品競爭力，確保市場佔有率

• ⚫ 單元機及輕商應用 利基市場 → 擴大推廣新市場及新客戶

• ⚫ 新產品及新市場商機

• 1.碳中和及省能源衍生的新商機 2.5G基站及數據中心設備冷卻需求 3.個人化、行動生活設備需求

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問題與討論

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創造節能產業的無限可能 成為前瞻節能產品的頂尖提供者

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