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TPK Interim / Quarterly Report 2017

Nov 7, 2017

52363_rns_2017-11-07_818c8128-d18d-492d-a5ab-eda1000b6165.pdf

Interim / Quarterly Report

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TPK Proprietary & Copyright © All Rights Reserved

Disclaimer Statement

This presentation and release may contain ‘forward-looking statements’ which may include projections on future results of operations, financial condition and business prospects based on our own information and other sources.

The actual results of operations, financial condition and business prospects may differ from those explicitly or implicitly indicated in those forward-looking statements for a variety of reasons, including but not limited to market demand, price fluctuations, competition, supply chain issues, global economic conditions, exchange rate fluctuation and other risks and factors beyond TPK’s controls.

The forward-looking statements in this presentation, if any, only reflect the current view of TPK Holding Co., Ltd. as of the date of its release. TPK undertakes no obligation to update those forward-looking statements for events or circumstances that occur subsequently.

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TPK Proprietary & Copyright © All Rights Reserved

Disclosure Notice

公告原則

 All financial numbers are prepared in accordance with IFRS which is approved by regulators in Taiwan

  • All financial numbers are unaudited

  • 本公司財務報表係依照臺灣主管機關認可之國際財務報 導準則編製

  • 所有財務數字均為本公司自結數

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TPK Proprietary & Copyright © All Rights Reserved

3Q17 Result Summary

2017年第三季營運簡報

3Q17 Revenues Net Profits EPS
NT$ 30.5 bn 870 mn 2.37

  • Seasonality and ramp-ups in new smartphone and tablet products elevated the revenues in third quarter.

  • Profitability improved on the backdrop of favorable product mix & efficiency improvement.

  • Operating cost remained at healthy level, given increased R&D expenses and higher production volume.

  • Net-debt-to-equity at 0.05 and current ratio at 1.24.

  • For first 9 months in 2017, EBITDA has amounted to NT$9.7 billion.

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TPK Proprietary & Copyright © All Rights Reserved

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TPK Proprietary & Copyright © All Rights Reserved

3Q17 Profit & Loss

2017年第三季損益表

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季損益表
Profit & Loss QoQ
3Q16
YoY
3Q17
2Q17
(NT$ million)
Revenues
COGS
Gross Profits
Operating Expenses
SG&A
R&D
Operating Profits
Non-Op Inc/(Exp)
Int Inc/(Exp)
FX Gain/(Loss)
Invest Inc/(Loss)
Others
Earnings Before Tax
Income Tax
Net Income (Parent)
EPS (Parent)
EBITDA		 36.2%
26,168
16.6%
(23,654)
73.2%
2,514
4.0%
(1,240)
(1,015)
(226)
211.8%
1,274
5.4%
(284)
(230)
(52)
56
(58)
125.7%
990
17.6%
(299)
684
149.5%
1.97
20.3%
3,444
(27,898)
(20,897)
30,513
22,407
2,615
1,510
(1,273)
(1,080)
(992)
(874)
(281)
(205)
1,342
430
(178)
85
(210)
(203)
(132)
(124)
-
-
164
412
1,164
516
(351)
(176)
870
327
2.37
0.95
3,571
2,835
Margin:
GM
OM
NM
OpExp		 9.6%
4.9%
2.6%
(4.7%)
8.6%
6.7%
4.4%
1.9%
2.9%
1.5%
(4.2%)
(4.8%)

2

TPK Proprietary & Copyright © All Rights Reserved

Quarterly Sales

季營收

0
10,000
20,000
30,000
40,000
50,000
NT$ mm
21,239
17,085
26,168
24,724
21,415
22,407
30,513
1Q16
2Q16
3Q16
4Q16
1Q17
2Q17
3Q17

3

TPK Proprietary & Copyright © All Rights Reserved

Quarterly Sales by Form Factors

季營收結構

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----- Start of picture text -----

＜ 7" 7" ≦ X 11" 11" ≦ X 16" X ≧ 16" Others
100%
19%
24%
80% 25%
27% 29%
30% 33%
25%
60%
19%
26%
21%
28%
29% 24%
40%
51%
50%
44% 44%
20%
36%
34%
30%
0%
1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17
----- End of picture text -----

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TPK Proprietary & Copyright © All Rights Reserved

3Q17 Balance Sheet

2017年第三季資產負債表

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alance Sheet
季資產負債表
Balance Sheet 2017/9/30
2017/6/30
(NT$ million)
Cash Equivalents
Debt Inv with no active market
Receivables
Inventories
Current Assets
Long-term Investments
Property, Plant and Equipment
Total Assets
ST Loans
Payables
Current Liabilities
Convertible Bonds
LT Loans
Total Liabilities
Common Shares
Non-Controlling Interest
Total Shareholder's Equities		 22,865
19,344
2,433
1,526
7,032
7,346
7,453
5,604
47,361
35,628
257
258
36,133
38,320
87,692
78,030
14,449
20,104
17,268
10,344
38,225
36,328
6,299
6,289
3,991
4,173
50,913
48,917
4,066
3,466
200
253
36,778
29,112
Ratio Analysis:
Quick Ratio
Current Ratio
ROE (YTD Annualized)
Net Debt to Equity		 1.04
0.83
1.24
0.98
7.4%
6.5%
0.05
0.39

5

Note: PP&E includes prepayments.

TPK Proprietary & Copyright © All Rights Reserved

Oct 2017 Monthly Sales

2017年10月營收報告

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6 TPK Proprietary & Copyright © All Rights Reserved

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TPK Proprietary & Copyright © All Rights Reserved

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新聞稿

TPK 公告 2017 年第三季自結營運成果

中華民國，台灣，台北，2017 年 11 月 2 日 – TPK Holding Co., Ltd. 宸鴻科技（TWSE: 3673）（“宸鴻” 或 “本公司”）今日公告 2017 年第三季自結營運成果。本季自結稅後淨 利為新台幣 8 億 7 仟萬元，稅後稀釋每股淨利為新台幣 2.37 元。合計 2017 年前三季合 計稅後稀釋每股淨利為新台幣 5.18 元。

營運成果分析

本公司第三季自結合併營收為新台幣 305.1 億元，較上季成長 36.2%，亦較去年同期增 加 16.6%，主要係季節性因素及智慧型手機與平板電腦新產品出貨所致。第三季營業毛 利為新台幣 26.2 億元，亦較上季成長 73.2%。受惠於有利產品組合及生產效率提升之 因素，第三季營業毛利率由前一季 6.7%提升至 8.6%。

在銷售成本結構方面，隨營收規模成長，原料成本亦由第二季新台幣 166.1 億元，增加 為新台幣 229.7 億元；同時人工成本則由上季新台幣 16.6 億元增加為新台幣 20.4 億元， 約略與 2016 年第四季相當，然而本季營收規模卻較 2016 年第四季增加 23.4%，顯現 公司持續致力於生產自動化之成效。本季折舊攤提費用為新台幣 19.8 億元與前一季相 當。

第三季營業費用為新台幣 12.7 億元，較上季新台幣 10.8 億元增加，主要係營收規模成 長所致。本季淨利息費用約為新台幣 2.1 億元。此外，第三季認列外匯損失約為新台幣 1.3 億元，主要係因人民幣兌美金升值所致。即使本季營運規模較前一季顯著成長，惟 截至 2017 年 9 月 30 日，本公司員工總人數為 28,399 人，較前一季底員工人數減少約 1000 人。

資本結構及資本支出

本公司於 2017 年 9 月 8 日順利完成全球海外存託憑證（GDR）之發行，本次募資金額 為美金 2.37 億元。截至 2017 年 9 月 30 日，本公司帳上現金餘額為新台幣 228.6 億元， 較第一季底新台幣 193.4 億元略增。宸鴻持續致力於降低財務槓桿，本季底合計銀行借

1

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款餘額及人民幣債券餘額由前季底新台幣 242.8 億元減少至新台幣 184.4 億元，第三季 季底之淨負債權益比率僅 0.05，為公司自 2010 年上市以來之歷史新低，流動比率亦由 第二季季底 0.98 改善為第三季季底 1.24。第三季 EBITDA 為新台幣 35.7 億元，亦為公 司自 2013 年第 2 季以來之新高。本季資本支出約為新台幣 6.9 億元。

註：本公司之財務數字係依照臺灣主管機關認可之國際財務報導準則編製。

投資人關係聯絡人：

劉詩亮，策略長 王凱論，財務處資深處長

Tel: +886.2.7727.1196 [email protected] **************

關於 TPK 宸鴻科技

TPK 為專業的觸控技術應用領導廠商，透過垂直整合的生產製程提供客戶全方位的觸控技術應 用解決方案，包括產品設計、研發到量產。公司持續專注於觸控技術的研發與創新，以維持技 術的領先地位，並透過新材質的開發、技術的提昇及製程的改善達到降低成本的效益，以期擴 大觸控技術在各種電子產品的應用並滿足客戶需求。本公司之主要生產基地位於中國廈門。

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3Q17 PROFIT & LOSS

3Q17 PROFIT & LOSS
Profit & Loss QoQ
3Q16
YoY
3Q17
2Q17
(NT$ million)
Revenues
COGS
Gross Profits
Operating Expenses
SG&A
R&D
Operating Profits
Non-Op Inc/(Exp)
Int Inc/(Exp)
FX Gain/(Loss)
Invest Inc/(Loss)
Others
Earnings Before Tax
Income Tax
Net Income (Parent)
EPS (Parent)
EBITDA		 36.2%
26,168
16.6%
(23,654)
73.2%
2,514
4.0%
(1,240)
(1,015)
(226)
211.8%
1,274
5.4%
(284)
(230)
(52)
56
(58)
125.7%
990
17.6%
(299)
684
149.5%
1.97
20.3%
3,444
870
327
2.37
0.95
3,571
2,835
164
412
1,164
516
(351)
(176)
(210)
(203)
(132)
(124)
-
-
(281)
(205)
1,342
430
(178)
85
2,615
1,510
(1,273)
(1,080)
(992)
(874)
(27,898)
(20,897)
30,513
22,407
Margin:
GM
OM
NM
OpExp		 9.6%
4.9%
2.6%
(4.7%)
(4.2%)
(4.8%)
8.6%
6.7%
4.4%
1.9%
2.9%
1.5%

3Q17 BALANCE SHEET

3Q17 BALANCE SHEET
Balance Sheet 2017/9/30
2017/6/30
(NT$ million)
Cash Equivalents
Debt Inv with no active market
Receivables
Inventories
Current Assets
Long-term Investments
Property, Plant and Equipment
Total Assets
ST Loans
Payables
Current Liabilities
Convertible Bonds
LT Loans
Total Liabilities
Common Shares
Non-Controlling Interest
Total Shareholder's Equities		 22,865
19,344
2,433
1,526
7,032
7,346
7,453
5,604
47,361
35,628
257
258
36,133
38,320
87,692
78,030
14,449
20,104
17,268
10,344
38,225
36,328
6,299
6,289
3,991
4,173
50,913
48,917
4,066
3,466
200
253
36,778
29,112
Ratio Analysis:
Quick Ratio
Current Ratio
ROE (YTD Annualized)
Net Debt to Equity		 1.04
0.83
1.24
0.98
7.4%
6.5%
0.05
0.39

Note: PP&E includes prepayments.

3

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3Q17 CASH FLOW

3Q17 CASH FLOW
Cashflow Statement 3Q17
2Q17
(NT$ million)
Operating Cashflows:
Earning Before Tax
Depreciation & Amortization
Net Inc/(Dec) Working Capital
Other Operating Cash Flow
Cash Flow from Operations
Investing Cashflows:
Capital Expenditures
Acquisitions
Others
Cash Flow from Investments
Financing Cashflows:
Inc/(Dec) in Debts
Capital Injection
Others
Cash Flow from Financing
FX Adjustments
Total Cash Flow		 1,164
516
2,129
2,062
(147)
1,352
562
(7)
3,708
3,923
(65)
(1,443)
-
373
(916)
(978)
(981)
(2,048)
(3,964)
(2,097)
7,023
-
(314)
(30)
2,745
(2,127)
(1,951)
98
3,521
(154)

4

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