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SUNON Interim / Quarterly Report 2017

Aug 16, 2017

52070_rns_2017-08-16_7d21fb1c-ab04-4d54-be05-ac0c06bac539.pdf

Interim / Quarterly Report

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Sunonwealth Electric Machine Industry Co., Ltd

2017 Q2 Operation results 2421 TT

Page 1

Safe Harbor Notice

This presentation is based on the information obtained from various sources which the Company believes to be reliable. But at some point in the future, there are a variety of factors which could cause actual results to differ materially from those statements. Therefore, please refer to the information on MOPS website as the main basis if any adjustment has been made. (http://mops.twse.com.tw/mops/web/index)

Page 2

Thermal & Thermal Management

All electronic devices and circuitry generate excess heat and thus require thermal management to improve reliability and prevent premature failure. The amount of heat output is equal to the power input, if there are no other energy interactions.There are several techniques for cooling including various styles of heat sinks, thermoelectric coolers, forced air systems and fans, heat pipes, and others.

Passive Cooling Active Cooling

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Heat sinks Heat pipes Liquid cooling Cooling Fan
Vapor chamber
From Wikipedia, the free encyclopedia
建準電機工業股份有限公司(股票代號2421) Page 3
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Thermal
Module
Thermal Module
Heat Heat Ambient
TIM Fan
Chip Copper temperature
pipes sinks
meet
Heat heat transfer heat dissipation system
Operating
temperature
圖片來源：網路圖片
建準電機工業股份有限公司(股票代號2421) Page 4
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Cooling Fan (Server)

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Photo Source :Internet

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Page 5

36 YEARS

Innovative Energy-Saving Motor Design & Technology

Company Overview

Established：1980

Employees ： 600 people (Taiwan) 7750 people (China) Turnover ：USD$ 332Million (Y2016) Factories ： Kaohsiung Plant (Taiwan) Kun Shan Plant (China) Foshan Plant (China) Beihai Plant (China) Hefei Plant (China)

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Motor 0.1W

Motor 0.1W 1500 Watts Fan 3mm 80mm 200mm 443 mm 3000mm 7000mm

Page 6

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Growth
Pattern
Million (NTD) PM2.5 Air Purifier and
Automotive electronics
SUNON enters LED lighting industry
Became the only supplier for Philips
Received orders from STB
and automotive manufactures
Received orders from
Cisco, ZTE, Huawei major telecom
Financial and Cloud Data manufactures
Crisis
Received order from major
telecom manufacture
SUNON enters Cloud Data Center
Received orders from Facebook and Google
Focus on Micro Cooling Device
The only supplier for NB OEM
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Focus on Micro Cooling Device
The only supplier for NB OEM
建準電機工業股份有限公司(股票代號2421) Page 7
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SUNON Research

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PANTENTS

Page 8

  • Global Over 1,000 sales representatives, 12 subsidiaries and offices, and over 130 distributors around the world.

  • Support • 7 research centers which provide a worldwide technological service network for quick and efficient services.

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Europe China / Foshan China / Kunshan Taiwan Taiwan Taipei Japan/ Yokohama U.S.A.
Research Center Research Center Research Center Research Center Research Center Research Center Research Center
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Page 9

World Leading Motor Technology

MagLev Shockproof System System

Sound Ultra Energy Quality Thin Efficient Analysis 92% 3mm Thickness efficiency

Page 10

Outstanding Technology

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MAGNETIZATION MOTOR EFFICIENCY VIBRATION FREQUENCY MATERIAL ANALYSIS
SIMULATION ANALYSIS ANALYSIS SPECTRUM ANALYSIS AND RESEARCH
Total motor, thermal, ventilation solution
SOUND QUALITY THERMAL ANALYSIS STRUCTURAL SIMULATION HIGH VOLTAGE DIRECT
ANALYSIS ANALYSIS CURRENT(DC)
ELECTRICITY
建準電機工業股份有限公司(股票代號2421) Page 11
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SUNON Product Line

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Motor Fan
Ventilation Cooling
System Module
建準電機工業股份有限公司(股票代號2421) Page 12
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Fan & Blower

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Fan Size
3mm- 443mm
DC Axial Fan DC Blower AC Axial Fan
Mighty Mini Fan Water proof Fan Explosion-proof Fan
Fan Tray
EC Axial Fan EC Blower EC Centrifugal Fan
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Page 13

Cooling Module

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Cooling module Ultra thin heat pipe Metal Processing
(up to 0.4 mm ) (Stamping / Aluminum Extrusion
( up to 2.5mm)
/ Die Casting)
Active Series
Vapor chamber
passive Series
(up to 0.6mm )
Liquid cooling
Liquid + air
cooling system
建準電機工業股份有限公司(股票代號2421) Page 14
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Motor

Highly Energy efficient motor 0.1W ~ 1500W

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The application of high horsepower motors

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建準電機工業股份有限公司(股票代號2421) Page 15
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Ventilation

Eco ventilation solution

Ventilation Fan

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Flow2 One

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Case Study

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Page 16

Products Application

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50% Y 2016 Y2017H1
41.4%
40% 36.0%
30%
20.6%
20% 15.6% 16.1% 17.6%
10.9% 10.5% 9.8%
9.0%
10%
4.5%
3.9%
2.0% 2.1%
0%
LED Lighting Automobile Disty Home Industrial Telecom & IT & OE
Application Medical E. Server
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Page 17

Revenue Performance

UNIT: NTD (K)

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12,000,000 Revenue Growth rate 18%
10,690,822
10,109,156 16%
10,000,000 9,533,345
14%
8,256,495 15.46%
7,708,731
8,000,000 12%
10%
6,000,000
8%
4,000,000 7.11% 6%
6.04% 5.75%
4%
2,000,000
2%
0 0%
Y2012 Y2013 Y2014 Y2015 Y2016
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建準電機工業股份有限公司(股票代號2421) Page 18
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Short Term Growth - Revenue

UNIT: NTD (M)

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6,000 16.00%
5,351
14.00%
5,000 13.35%
4,782 11.90% 12.00%
4,000
10.31% 10.00%
Y2016
2,836
3,000 8.00%
2,515 Y2017
2,502 6.00% YOY
2,000 2,280
4.00%
1,000
2.00%
0 0.00%
Q1 Q2 H1
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建準電機工業股份有限公司(股票代號2421) Page 19
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Short Term Growth - Profit

UNIT: NTD

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1.60 180.00%
1.40 1.34 160.00%
155.00%
140.00%
1.20
120.00%
1.00
0.83 100.00% Y2016
0.80
Y2017
80.00%
0.76 76.32%
0.60 0.51 YOY
60.00%
0.56
0.40 48.21%
40.00%
0.20 20.00%
0.20
- 0.00%
Q1 Q2 H1
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建準電機工業股份有限公司(股票代號2421) Page 20
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Profit Margin

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30% Gross Margin Y2015 Y2016 Y2017
22.95%
21.98%
20% 22.86% 23.47% 22.59% 22.43%
20.47%
10% 19.69% 21.14% 22.44% 20.32%
17.53%
0%
Q1 Q2 Q3 Q4 Y
10% Operating Margin 7.92% Y2015 Y2016 Y2017
8%
6.01% 8.24%
7.81%
6%
6.39% 6.51% 6.50%
5.92%
4%
4.34%
3.46%
2% 2.67%
0.83%
0%
Q1 Q2 Q3 Q4 Y
10% Net Margin Y2015 Y2016 Y2017
7.36%
8% 6.44% 6.29% 6.32% 6.74%
6% 5.12% 5.66% 5.51%
4.44%
4% 3.07%
2.26%
2% 1.30%
0%
Q1 Q2 Q3 Q4 Y
建準電機工業股份有限公司(股票代號2421) Page 21
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Earning & Cash Dividend

UNIT: NTD

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3.0
2.5 2.28
2.0
2.0 1.77
1.51 1.5
1.5 1.22 1.2
1.0 1.0
0.83
1.0
0.5
0.0
EPS Cash Dividend
Y2012 Y2013 Y2014 Y2015 Y2016
Payout R. 120.48% 81.97% 79.47% 84.75% 87.72%
建準電機工業股份有限公司(股票代號2421) Page 22
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Medium Term Drivers

Cooling Module in Gaming Concept Drone Cloud Computing

VR MR AR

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IoT & Home Air Purifier Automobile EC motor for HVACR Application Photo Source :Internet

Page 23

Appendix I

2014
2015
2016
2017
H1
OPERATING REVENUES
8,256
9,533
10,109
10,691
5,351
15.47%
6.04%
5.76%
11.90%
GROSS PROFIT
1,780
1,953
2,054
2,398
1,203
9.72%
5.17%
16.75%
15.87%
INCOME FROM OPERATIONS
384
418
439
695
376
8.85%
5.02%
58.31%
70.13%
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
NT$ M
2013
2014
2015
2016
2017
H1
Growth YOY(%)		 2014
2015
2016
2017
H1
OPERATING REVENUES
8,256
9,533
10,109
10,691
5,351
15.47%
6.04%
5.76%
11.90%
GROSS PROFIT
1,780
1,953
2,054
2,398
1,203
9.72%
5.17%
16.75%
15.87%
INCOME FROM OPERATIONS
384
418
439
695
376
8.85%
5.02%
58.31%
70.13%
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
NT$ M
2013
2014
2015
2016
2017
H1
Growth YOY(%)		 2014
2015
2016
2017
H1
OPERATING REVENUES
8,256
9,533
10,109
10,691
5,351
15.47%
6.04%
5.76%
11.90%
GROSS PROFIT
1,780
1,953
2,054
2,398
1,203
9.72%
5.17%
16.75%
15.87%
INCOME FROM OPERATIONS
384
418
439
695
376
8.85%
5.02%
58.31%
70.13%
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
NT$ M
2013
2014
2015
2016
2017
H1
Growth YOY(%)		 2014
2015
2016
2017
H1
OPERATING REVENUES
8,256
9,533
10,109
10,691
5,351
15.47%
6.04%
5.76%
11.90%
GROSS PROFIT
1,780
1,953
2,054
2,398
1,203
9.72%
5.17%
16.75%
15.87%
INCOME FROM OPERATIONS
384
418
439
695
376
8.85%
5.02%
58.31%
70.13%
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
NT$ M
2013
2014
2015
2016
2017
H1
Growth YOY(%)		 2014
2015
2016
2017
H1
OPERATING REVENUES
8,256
9,533
10,109
10,691
5,351
15.47%
6.04%
5.76%
11.90%
GROSS PROFIT
1,780
1,953
2,054
2,398
1,203
9.72%
5.17%
16.75%
15.87%
INCOME FROM OPERATIONS
384
418
439
695
376
8.85%
5.02%
58.31%
70.13%
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
NT$ M
2013
2014
2015
2016
2017
H1
Growth YOY(%)		 2014
2015
2016
2017
H1
OPERATING REVENUES
8,256
9,533
10,109
10,691
5,351
15.47%
6.04%
5.76%
11.90%
GROSS PROFIT
1,780
1,953
2,054
2,398
1,203
9.72%
5.17%
16.75%
15.87%
INCOME FROM OPERATIONS
384
418
439
695
376
8.85%
5.02%
58.31%
70.13%
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
NT$ M
2013
2014
2015
2016
2017
H1
Growth YOY(%)		 2014
2015
2016
2017
H1
OPERATING REVENUES
8,256
9,533
10,109
10,691
5,351
15.47%
6.04%
5.76%
11.90%
GROSS PROFIT
1,780
1,953
2,054
2,398
1,203
9.72%
5.17%
16.75%
15.87%
INCOME FROM OPERATIONS
384
418
439
695
376
8.85%
5.02%
58.31%
70.13%
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
NT$ M
2013
2014
2015
2016
2017
H1
Growth YOY(%)		 2014
2015
2016
2017
H1
OPERATING REVENUES
8,256
9,533
10,109
10,691
5,351
15.47%
6.04%
5.76%
11.90%
GROSS PROFIT
1,780
1,953
2,054
2,398
1,203
9.72%
5.17%
16.75%
15.87%
INCOME FROM OPERATIONS
384
418
439
695
376
8.85%
5.02%
58.31%
70.13%
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
NT$ M
2013
2014
2015
2016
2017
H1
Growth YOY(%)		 2014
2015
2016
2017
H1
OPERATING REVENUES
8,256
9,533
10,109
10,691
5,351
15.47%
6.04%
5.76%
11.90%
GROSS PROFIT
1,780
1,953
2,054
2,398
1,203
9.72%
5.17%
16.75%
15.87%
INCOME FROM OPERATIONS
384
418
439
695
376
8.85%
5.02%
58.31%
70.13%
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
NT$ M
2013
2014
2015
2016
2017
H1
Growth YOY(%)		 2014
2015
2016
2017
H1
OPERATING REVENUES
8,256
9,533
10,109
10,691
5,351
15.47%
6.04%
5.76%
11.90%
GROSS PROFIT
1,780
1,953
2,054
2,398
1,203
9.72%
5.17%
16.75%
15.87%
INCOME FROM OPERATIONS
384
418
439
695
376
8.85%
5.02%
58.31%
70.13%
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
NT$ M
2013
2014
2015
2016
2017
H1
Growth YOY(%)		 2014
2015
2016
2017
H1
OPERATING REVENUES
8,256
9,533
10,109
10,691
5,351
15.47%
6.04%
5.76%
11.90%
GROSS PROFIT
1,780
1,953
2,054
2,398
1,203
9.72%
5.17%
16.75%
15.87%
INCOME FROM OPERATIONS
384
418
439
695
376
8.85%
5.02%
58.31%
70.13%
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
NT$ M
2013
2014
2015
2016
2017
H1
Growth YOY(%)		 2014
2015
2016
2017
H1
OPERATING REVENUES
8,256
9,533
10,109
10,691
5,351
15.47%
6.04%
5.76%
11.90%
GROSS PROFIT
1,780
1,953
2,054
2,398
1,203
9.72%
5.17%
16.75%
15.87%
INCOME FROM OPERATIONS
384
418
439
695
376
8.85%
5.02%
58.31%
70.13%
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
NT$ M
2013
2014
2015
2016
2017
H1
Growth YOY(%)
INCOME BEFORE INCOME TAX
441
525
584
833
405
19.05%
11.24%
42.64%
60.61%
NET INCOME attribute to owners
306
379
442
572
336
23.86%
16.62%
29.41%
76.35%
EPS (NT$)
1.22
1.51
1.77
2.28
1.34
Gross Margin
21.56%
20.49%
20.32%
22.43%
22.49%
Operating Margin
4.66%
4.38%
4.34%
6.50%
7.02%
Net Margin()
3.71%
3.98%
4.37%
5.35%
6.28%
Nt Mi=Nt I ttibt t / R
*Nt Mi=Nt I ttibt t / R
()e argne ncome arue o owners evenue

Page 24

Appendix II

CONSOLIDATED BALANCE SHEETS

2014
2015
2016
2017
H1
TOTAL ASSETS
6,778
7,324
7,523
8,391
8,035
8.06%
2.72%
11.54%
14.41%
Cash
1,183
961
1,269
1,338
1,035
-18.77%
32.05%
5.44%
-16.46%
A/R, N/R
2,001
2,440
2,439
2,871
2,731
21.94%
-0.04%
17.71%
26.61%
Inventories
1,154
1,338
1,480
1,377
1,494
15.94%
10.61%
-6.96%
23.27%
NT$ M
2013
2014
2015
2016
2017
H1
Growth YOY(%)
PP&E
1,814
1,810
1,775
2,182
2,207
-0.22%
-1.93%
22.93%
22.07%
TOTAL LIABILITIES
3,067
3,364
3,516
4,324
4,211
9.68%
4.52%
22.98%
30.33%
Short-term loans
576
497
464
454
396
-13.72%
-6.64%
-2.16%
18.21%
A/P
1,653
1,934
2,084
2,469
2,077
17.00%
7.76%
18.47%
24.00%
Long-term loans
0
0
0
320
320
NA
TOTAL EQUITY
3,711
3,960
4,007
4,067
3,824
6.71%
1.19%
1.50%
0.84%
Days sales outstanding
83
85
88
91
96
D l f it
59
60
64
63
63
ays saes o nvenory





Current Ratio
1.6032
1.635
1.6317
1.5336
148.05

Page 25

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2421 TT

www.sunon.com

Page 26

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