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SUNPLUS Interim / Quarterly Report 2019

Aug 14, 2019

52056_rns_2019-08-14_9af98ae6-7beb-448d-b76e-d96d69e8c434.pdf

Interim / Quarterly Report

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2Q 2019 Investor Conference

August 14, 2019

Deputy Spokesman: Joseph Chuang Tel: 886-3-5786005 ext.3120 E-mail: [email protected]

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Sunplus Affiliates

Profession Shareholding Stock code
Sunplus Technology Co., Ltd. (592m shares) 100% TWSE#2401
Automotive IC & IP Design
Generalplus Technology Co., Ltd. (109m shares) 48%
 TWSE#4952
Speech/Music, LCD, Digital Video & Image SoC Turnkey
Solutions,Micro-Controllers
Sunplus Innovation Technology Inc. (51m shares) 69%
Web Cam & HID Control IC
Sunext Technology Co., Ltd. (64m shares) 92%
ODD & Motor Drive IC
Jumplux Technology Inc. (24m shares) 97%
Automotive MCU & USB Storage ASIC
  • Based on 2019/6/30 Consolidated-holding by Sunplus

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Sunplus Group

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Sunext Technology

Generalplus Technology

Intelligent Driving & Ultra High-Definition

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Consumer IC/ Wireless charger

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DVD/Automotive/Audio IC & IP

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Sunplus Innovation Technology UVC & HID Application

Jumplux Technology Automotive MCU & USB Media Controller

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Sunplus Product Portfolios

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AVM/BSD
In-Vehicle CD/ DVD Player
Infotainment
RSE
Karaoke/Video
boombox
Soundbar
Display Audio
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Sunplus Research & Technologies

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• •
• 2D/3D AVM CarPlay
Dolby, DTS, Hi-
• •
De-interface, 3D Android Auto
Res
•
• comb filter, SNR CarLife
Surround sound
• •
• DeHaze WebLink
EQ, Virtual Bass,
SRC, AEC, NR,..
Image/ Phone
Audio
Video Link
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Plus1 Concept

Computing (C) chip Advanced Technology

Peripheral (P) chip Mature Process

1-core/ 2-core/ 4-core/ GPIO/ RS232/ I2C/ USB UART/ Others ARM/ DSP 18um 13um 55nm 40nm 28nm 16nm 7nm Process Technology <$100K <$200K <$700K <$1M <$2M ~$3M >$7M Mask Cost

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Seperating C chip / P chip According to Process

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C+P = Plus1 Solutions

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C+P = Plus1 Solutions

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C+P = Plus1 Solutions

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Very Wide Ranges of Applications

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Intelligent Terminal

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Smart Payment

Maker

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IP Solutions

-Experience Optimized IP Solutions for SoC Design

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IC Design & IP Design Service
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Media I/F (Audio/Video)

， ， ， MIPI RX IP HDMI Tx IP LVDS IP AUDIO ADC ， AUDIO DAC VIDEO DAC…

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Data/Com I/F (Networking/Datacom)

， ， 10/100 ETHERNET PHY USB 2.0 USB 3.0 ， DDR 3/2 PHY SerDes…

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SoC Companion

， ， ， SAR ADC Pipeline ADC PLL SPREAD SPECTRUM PLL…

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Human Resources

Global Employees

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Production
7%
Administration
29%
R&D
64%
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Sunplus HR

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Other
35%
R&D
65%
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Global Employees/ R&D 1 084 / 699 , 40% Master above

Sunplus HR/ R&D 302 / 197 61% Master above

  • Data by 2019/6/30

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Q2 Consolidated Results

(NT$ million)
Net Sales
COGS
GrossMargin
R&D Expenses
SG&A Expenses
OperatingNetProfit (Loss)
Non-Op. Gain (Loss)
NetIncome (Loss)
Other Comprehensive Income
Total Comprehensive Income
Net Profit Attributable To
Shareholders ofthe parent
Non-controlling interests
EPS (NT$)		 1,532
100%
886
58%
646
42%
379
25%
195
13%
72
5%
17
1%
71
5%
(34)
(2%)
38
2%
6
0%
65
4%
0.01
2019Q2		 1,180
100%
675
57%
505
43%
357
30%
191
16%
(44)
(4%)
80
7%
28
2%
69
6%
98
8%
7
1%
21
2%
0.01
2019Q1		 1,799
100%
1,103
61%
695
39%
467
26%
205
11%
23
1%
36
2%
35
2%
(43)
(2%)
(8)
(0%)
(25)
(1%)
60
3%
(0.04)
2018Q2		 QoQ
YoY
30%
(15%)
31%
(20%)
28%
(7%)
6%
(19%)
2%
(5%)
(266%)
211%
(79%)
(53%)
151%
102%
(148%)
(22%)
(62%)
(585%)
(12%)
(125%)
205%
9%

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** EPS based on outstanding 591,994,919 shares on 2019/06/30

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1H Consolidated Results

(NT$ million)
Net Sales
COGS
GrossMargin
R&D Expenses
SG&A Expenses
OperatingNetProfit (Loss)
Non-Op. Gain (Loss)
NetIncome (Loss)
Other Comprehensive Income
Total Comprehensive Income
Net Profit Attributable To
Shareholders ofthe parent
Non-controlling interests
EPS (NT$)		 2,711
100%
1,561
58%
1,150
42%
736
27%
385
14%
29
1%
96
4%
99
4%
36
1%
135
5%
13
0%
86
3%
0.02
2019 1H		 YoY
3,228
100%
(16%)
1,984
61%
(21%)
1,245
39%
(8%)
921
29%
(20%)
424
13%
(9%)
(100)
(3%)
(128%)
182
6%
(47%)
51
2%
95%
(26)
(1%)
(236%)
25
1%
449%
(14)
(0%)
(197%)
65
2%
33%
(0.02)
2018 1H

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** EPS based on outstanding 591,994,919 shares on 2019/06/30

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2019 Affiliates’ Contribution

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2Q '19 Net Sales : 1,532 MNT$ 2Q '19 Net Income
MNT$
Others
8% Sunplus
21% 98
SunplusIT
17%
45
Generalplus
54% 6
Sunplus Generalplus SunplusIT
1H '19 Net Sales : 2,711 MNT$ 1H '19 Net Income
MNT$
Others
9% Sunplus 130
24%
SunplusIT
17% 62
13
Generalplus
50%
Sunplus Generalplus SunplusIT
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Q2 Consolidated Balance Sheet

Amount: NT$million
1H'06
1H'05
YoY
Total Assets
21,677
19,210
13%
Cash & S-T Investment
6,201
6,349
-2%
Account Receivable
3,260
3,319
-2%
Inventory
2,801
2,132
31%
L-T investment (equity method)
4,473
3,031
48%
Intangible Assets
1,106
1,183
-7%
Total Liabilities
5,572
4,993
12%
Account Payable
2,236
2,099
7%
Total Shareholder Equity
16,095
14,217
13%
Net Cash Folw in(out)
291
2,316
-87%
From Operation
652
2,199
-70%
From Investment
(648)
(75)
764% r
From Financing
287
192
50%
Capex
240
216
11%		 Amount: NT$million
1H'06
1H'05
YoY
Total Assets
21,677
19,210
13%
Cash & S-T Investment
6,201
6,349
-2%
Account Receivable
3,260
3,319
-2%
Inventory
2,801
2,132
31%
L-T investment (equity method)
4,473
3,031
48%
Intangible Assets
1,106
1,183
-7%
Total Liabilities
5,572
4,993
12%
Account Payable
2,236
2,099
7%
Total Shareholder Equity
16,095
14,217
13%
Net Cash Folw in(out)
291
2,316
-87%
From Operation
652
2,199
-70%
From Investment
(648)
(75)
764% r
From Financing
287
192
50%
Capex
240
216
11%		 15
QoQ
YoY
3%
(8%)
(4%)
(14%)
1%
(28%)
(2%)
105%
4%
(21%)
33%
(19%)
36%
(35%)
(21%)
(33%)
32%
(26%)
(100%)
(3%)
(2%)
(NT$ million)
Total Assets
Cash and Cash equivalents
Inventory
Equity Method Investments
Intangible Assets
Total Liabilities
S-T Bank Loans
L-T Bank Loans, Current Portion
Account Payable
L-T Bank Loans, Net of Current Portion
TotalShareholder Equity
ROE%
Net Asset Value per Share (NT$)		 2019Q2
12,306
2,978
792
706
177
2,668
241
187
639
0
8,302
2.06%
14.02		 2019Q1
11,973
3,095
786
722
169
2,004
177
236
484
0
8,538
1.14%
14.42		 2018Q2
13,375
3,455
1,097
344
222
3,285
373
279
868
50
8,515
1.01%
14.38
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Cash Flows

(NT$ million)
From Operation
From Investment
From Financing
Net Cash Flow in(out)
Cashand Cashequivalents		 2019Q2
152
(277)
5
(117)
2,978		 2019Q1
30
(16)
(155)
(141)
3,095		 2018Q2
(89)
(497)
20
(560)
3,455		 QoQ
YoY
410.0%
(270.8%)
1599.0%
(44.3%)
(103.4%)
(73.6%)
(17.0%)
(79.1%)
(3.8%)
(13.8%)
(NT$ million)
From Operation
From Investment
From Financing
Net Cash Flow in(out)
Cashand Cashequivalents		 2019 1H
181
(293)
(150)
(258)
2,978		 2018 1H
YoY
(61)
(399.4%)
(511)
(42.7%)
(136)
10.8%
(701)
(63.2%)
3,455
(13.8%)

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Non-Operating Gain

(NT$ million) 2019Q2 2019Q1 2018Q2 QoQ YoY
Other Income 27 23 25 14% 6%
Exchange Gain (Loss) (8) 15 (11) (149%) (30%)
Gain on Disposal of Investment 0 61 23 (100%) (99%)
Investment Gain Recognized under
Equity Method		 1 (17) (5) (104%) (113%)
Non-Operating Gain 17 80 36 (79%) (53%)
(NT$ million) 2019 1H 2018 1H
YoY
Other Income 50 48
5%
Exchange Gain (Loss) 8 6
34%
Gain on Disposal of Investment
Investment Gain Recognized under
Equity Method
Non-Operating Gain		 61
(16)
96		 111
(45%)
(4)
293%
182
(47%)

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Consolidated Net Sales & Gross Profit

NT$ million

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GP YoY: GP YoY:
-7% -8%
GP QoQ:
+28%
43%
42%
42%
39%
39%
1,799
3,228
1,532
2,711
695
1,245
1,180
646
1,150
505
1H '18 1H '19
2Q '18 1Q '19 2Q '19
COGS Gross Profit Gross Margin COGS Gross Profit Gross Margin
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R&D Expenses (Sunplus only)

NT$ million

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43%
40% 41%
39%
37%
33%
136
133
129
112 112
103
1Q '18 2Q '18 3Q '18 4Q '18 1Q '19 2Q '19
R&D Expense R&D Expense of Sales
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Consolidated Operating Net Profit

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NT$ million
YoY: +211% YoY: -128%
QoQ:
-266%
72
29
1.1%
23
4.7%
1H '18 1H '19
-3.1%
1.3%
2Q '18 1Q '19 2Q '19
-3.7%
-100
-44
Operating Net Profit Operating Margin Operating Net Profit Operating Margin
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Consolidated Net Profit

NT$ million

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YoY: -125% YoY: -197%
QoQ:
-12%
13
7
0.6% 6 0.4%
0.5%
2Q '18 -1.4% 1Q '19 2Q '19
1H '18 -0.4% 1H '19
-14
-25
Net Profit Net Profit Margin Net Profit Net Profit Margin
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Financial Statement

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1
0.72
0.72
42% 40% 42%
42% 42% 0.2 40%
0.02
0.01
8.47
7.87
7.56
6.82
6.08
2.71
2014 2015 2016 2017 2018 2019 1H
Consolidated Net Sales (BNT$) Gross Margin EPS
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SunplusiT

  • Smart Imaging and Man-Machine Interaction Enabler

UVC Application NB Cam Backend ISP Web Cam Dashboard Cam Document Scanner Controller

HID Application MCU RF Optical Sensor Easy Gesture Solution

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Sunext IC Solutions

- Driving to Intelligent Automation

Ultra High-Definition 4K UHD BD HD BD USB DVD/CD for Automotive

Intelligent Driving

3D Printer Barcode Printer IP CAM Driver

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Jumplux - Automotive MCU for Mobile Device

USB Media HUB for CarPlay USB PD + Wireless Charger 48V PMIC + MCU USB PD/BC

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USB PD/BC
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Q & A

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