Tripod — Annual Report 2017

Sep 6, 2017

健鼎科技

2017年9月

全球PCB製造產值區域別

Share(%)

• 60.0% 50.0% 40.0% 30.0% 20.0% 10.0% 0.0%

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2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
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Americas

Europe

Japan

Asia(ex JP & CN)

China (Area)

M USD	Americas	Europe	Japan	Asia (ex JP&CN)	China	China Growth	Worldwide TOTAL	Worldwide Growth	China's Share
2006	5,054	3,612	10,511	14,229	11,737	22.9%	45,144	11.1%	26.0%
2007	4,577	3,598	10,716	15,231	13,563	15.6%	47,684	5.6%	28.4%
2008	4,484	3,208	10,095	15,518	15,037	10.9%	48,342	1.4%	31.1%
2009	3,446	2,035	8,304	13,189	14,252	-5.2%	41,226	-14.7%	34.6%
2010	3,923	2,464	10,165	15,746	20,170	41.5%	52,468	27.3%	38.4%
2011	3,825	2,550	9,638	17,367	22,029	9.2%	55,409	5.6%	39.8%
2012	3,284	2,338	9,074	18,037	22,936	4.1%	55,669	0.5%	41.2%
2013	3,044	2,190	6,995	19,363	24,560	7.1%	56,152	0.9%	43.7%
2014	2,977	2,220	6,530	19,507	26,203	6.7%	57,437	2.3%	45.6%
2015	2,776	1,933	5,655	18,233	26,729	2.0%	55,325	-3.7%	48.3%
2016	2,752	1,910	5,253	17,169	27,123	1.5%	54,207	-2.0%	50.0%

* Source : Prismark (May. 2017)

2016 全球前15大PCB公司

單位: 百萬美金

Rank		Makers	Nationality		2011	2012	2013	2014		2015	2016	16/15		11-16 CAGR
1 2 3 4 5	Nippon Mektron Zhen Ding (Foxconn PCB) TTM (with Viasystems)** Unimicron (with PPT) Compeq		Japan Taiwan USA Taiwan Taiwan	2240(3) 2632(1) 2556(1) 2997(1) 1505(5) 1874(5) 2166(3) 2504(2) 2563(1) 2430(2) 2380(2) 2376(3) 2370(2) 2377(3) 2133(5) 2149(4) 811(18) 905(14) 1041(12) 1116(11)					3512(1) 3307(1) 2704(2) 2558(2) 2488(3) 2533(3) 2122(4) 2026(4) 1395(6) 1401(5)			-5.9% -5.4% 1.8% -4.5% 0.5%		8.1% 11.2% -0.2% -3.1% 11.6%
6	Tripod		Taiwan	1395(7) 1325(8) 1372(8) 1400(8)					1368(7) 1351(6)			-1.2%		-0.6%
7 8 9 10	Young Poong (with KCC, Interflex) Samsung Electro-Mech Sumitomo Electric KB PCB Group (with Elec&Eltek..)		Korea Korea Japan HongKong	1255(10) 1555(7) 2065(4) 1675(5) 1445(6) 1867(6) 1700(6) 1551(6) 880(14) 1184(9) 1315(9) 1279(9) 1040(11) 935(13) 922(14) 965(13)					1295(10) 1201(7) -7.3% 1344(8) 1140(8) -15.2% 1616(5) 1136(9) -29.7% 930(12) 980(10) 5.4%					-0.9% -4.6% 5.2% -1.2%
11 12 13 14 15	Ibiden Nanya PCB AT&S Hannstar Board (with GBM) Daeduck Group		Japan Taiwan Austria Taiwan Korea	2126(4) 2094(4) 1567(7) 1455(7) 1290(9) 975(12) 1088(11) 1154(10) 690(21) 698(20) 780(16) 829(15) 1290(9) 1100(10) 972(13) 958(14) 970(12) 1080(11) 1190(10) 1076(12)					1297(9) 954(11) -26.4% 945(11) 906(12) -4.1% 844(14) 877(13) 3.9% 825(15) 828(14) 0.3% 923(13) 808(15) -12.5%					-14.8% -6.8% 4.9% -8.5% -3.6%
Top15 PCB Makers				21870 23031 23247 23484					23608 22006 -6.8%					0.1%

• FPC Makers Include FPCBA Value

Source : Prismark ( May. 2017 )

** On a Pro Forma Basis, TTM Acquired Viasystems in 2015

健鼎季度合併損益表

單位:新台幣百萬元 本期淨利 營業成本 營業毛利 營業費用 營業淨利 營業外淨收益 所得稅費用 折舊攤提 本公司業主 基本每股盈餘 稅前淨利 其他費損 淨利歸屬於: 營業收入淨額	AMT % 10,663 100.0% 8,954 84.0% 1,709 16.0% 901 8.4% 0 0.0% 808 7.6% 164 1.5% 972 9.1% 278 2.6% 694 6.5% 694 6.5% $1.32 727 6.8% 2016 Q2	AMT % 11,619 100.0% 9,302 80.1% 2,317 19.9% 879 7.6% 450 3.9% 989 8.5% 202 1.7% 1,191 10.2% 214 1.8% 976 8.4% 976 8.4% $1.86 675 5.8% 2016 Q3	AMT % 11,286 100.0% 9,002 79.8% 2,284 20.2% 1,011 9.0% 0 0.0% 1,273 11.3% 256 2.3% 1,530 13.6% 298 2.6% 1,232 10.9% 1,232 10.9% $2.34 590 5.2% 2016 Q4	AMT % 10,285 100.0% 8,514 82.8% 1,771 17.2% 841 8.2% 0 0.0% 931 9.0% 163 1.6% 1,094 10.6% 193 1.9% 901 8.8% 901 8.8% $1.71 516 5.0% 2017 Q1	2017 Q2	2017 Q2
	AMT 10,663 8,954 1,709 901 0 808 164 972 278 694	AMT 11,619 9,302 2,317 879 450 989 202 1,191 214 976	AMT 11,286 9,002 2,284 1,011 0 1,273 256 1,530 298 1,232	AMT 10,285 8,514 1,771 841 0 931 163 1,094 193 901	AMT 10,636 8,673 1,963 870 -67 1,160 250 1,410 368 1,042	%
						100.0% 81.5%
						18.5% 8.2% -0.6%
						10.9% 2.4%
						13.3% 3.5%
						9.8%
	694 $1.32	976 $1.86	1,232 $2.34	901 $1.71	1,042 $1.98	9.8%
	727	675	590	516	474	4.5%

健鼎年度合併損益表

折舊與攤提 淨利歸屬於: 營業淨利 營業外淨收益 本公司業主 營業毛利 營業費用 稅前淨利 所得稅費用 本期淨利 其他費損 營業收入淨額 營業成本 基本每股盈餘 單位:新台幣百萬元	AMT % 42,433 100.0% 35,771 84.3% 6,662 15.7% 3,960 9.3% 129 0.3% 2,573 6.1% 667 1.6% 3,240 7.6% 584 1.4% 2,656 6.3% 2,637 6.2% $5.02 2,816 6.6% 2014	AMT % 43,383 100.0% 36,589 84.3% 6,793 15.7% 3,933 9.1% 0 0.0% 2,860 6.6% 671 1.5% 3,531 8.1% 698 1.6% 2,833 6.5% 2,833 6.5% $5.39 3,080 7.1% 2015	AMT % 43,513 100.0% 35,695 82.0% 7,818 18.0% 3,679 8.5% 450 1.0% 3,689 8.5% 788 1.8% 4,477 10.3% 904 2.1% 3,573 8.2% 3,573 8.2% $6.80 2,749 6.3% 2016	2016	% 100.0% 84.4% 15.6% 8.7% 0.0% 6.9% 1.6% 8.5% 1.9% 6.6% 6.6% 7.2% 1H	2017	1H
	AMT 42,433 35,771 6,662 3,960 129 2,573 667 3,240 584 2,656	AMT 43,383 36,589 6,793 3,933 0 2,860 671 3,531 698 2,833	AMT 43,513 35,695 7,818 3,679 450 3,689 788 4,477 904 3,573	AMT 20,608 17,392 3,216 1,789 0 1,427 329 1,756 392 1,365		AMT 20,921 17,187 3,734 1,710 -67 2,090 413 2,504 561 1,943	%
							100.0% 82.2%
							17.8% 8.2% -0.3%
							10.0% 2.0%
							12.0% 2.7%
							9.3%
	2,637 $5.02	2,833 $5.39	3,573 $6.80	1,365 $2.60		1,943 $3.70	9.3%
	2,816	3,080	2,749	1,485		990	4.7%

健鼎合併資產負債表

現金及約當現金 其他流動資產 基金及投資 固定資產 無形及其他資產 資產總計 短期借款 其他流動負債 長期借款 其他負債 股東權益 負債及股東權益總計 單位: 新台幣百萬元	AMT % 21,501 34.4% 19,047 30.5% 0 0.0% 15,992 25.6% 2,529 4.0% 59,068 94.5% 15,236 24.4% 14,154 22.6% 0 0.0% 1,285 2.1% 28,393 45.4% 59,068 94.5% 2014(IFRS)	AMT % 21,501 34.4% 19,047 30.5% 0 0.0% 15,992 25.6% 2,529 4.0% 59,068 94.5% 15,236 24.4% 14,154 22.6% 0 0.0% 1,285 2.1% 28,393 45.4% 59,068 94.5% 2014(IFRS)	AMT % 27,258 43.1% 18,312 28.9% 0 0.0% 14,418 22.8% 2,537 4.0% 62,525 98.8% 17,740 28.0% 13,347 21.1% 0 0.0% 1,670 2.6% 29,768 47.0% 62,525 98.8% 2015(IFRS)	AMT % 27,258 43.1% 18,312 28.9% 0 0.0% 14,418 22.8% 2,537 4.0% 62,525 98.8% 17,740 28.0% 13,347 21.1% 0 0.0% 1,670 2.6% 29,768 47.0% 62,525 98.8% 2015(IFRS)	AMT % 26,390 40.1% 16,983 25.8% 0 0.0% 12,924 19.6% 2,680 4.1% 58,976 89.5% 14,602 22.2% 14,348 21.8% 0 0.0% 1,654 2.5% 28,372 43.1% 58,976 89.5% 2016 1H(IFRS)	AMT % 26,390 40.1% 16,983 25.8% 0 0.0% 12,924 19.6% 2,680 4.1% 58,976 89.5% 14,602 22.2% 14,348 21.8% 0 0.0% 1,654 2.5% 28,372 43.1% 58,976 89.5% 2016 1H(IFRS)	AMT % 30,247 45.9% 18,950 28.8% 0 0.0% 11,321 17.2% 2,782 4.2% 63,301 96.1% 16,913 25.7% 14,871 22.6% 0 0.0% 1,951 3.0% 29,566 44.9% 63,301 96.1% 2016(IFRS)	AMT % 30,247 45.9% 18,950 28.8% 0 0.0% 11,321 17.2% 2,782 4.2% 63,301 96.1% 16,913 25.7% 14,871 22.6% 0 0.0% 1,951 3.0% 29,566 44.9% 63,301 96.1% 2016(IFRS)	2017 1H(IFRS)	2017 1H(IFRS)
	AMT 21,501 19,047 0 15,992 2,529 59,068 15,236 14,154 0 1,285 28,393 59,068		AMT 27,258 18,312 0 14,418 2,537 62,525 17,740 13,347 0 1,670 29,768 62,525		AMT 26,390 16,983 0 12,924 2,680 58,976 14,602 14,348 0 1,654 28,372 58,976		AMT 30,247 18,950 0 11,321 2,782 63,301 16,913 14,871 0 1,951 29,566 63,301		AMT 30,910 19,356 0 12,618 2,979 65,863 18,004 17,499 0 2,346 28,014 65,863	%
										46.9% 29.4% 0.0% 19.2% 4.5%
										100.0%
										27.3% 26.6% 0.0% 3.6% 42.5%
										100.0%
總資產週轉率 (x) 固定資產週轉率 (x) 資產報酬率 (%) 股東權益報酬率 (%) 流動比率 (%) 負債佔資產比率 (%) Gearing Ratio (%) 每股淨現金 (NT$) 每股淨值 (NT$)	0.81 2.57 5.1% 10.1% 138% 52% -22% 11.9 54.0		0.80 2.75 5.2% 10.5% 147% 52% -32% 18.1 56.6		0.68 3.01 4.5% 9.4% 150% 52% -42% 22.4 54.0		0.69 3.38 5.7% 12.0% 155% 53% -45% 25.4 56.3		0.65 3.50 6.0% 13.5% 142% 57% -46% 24.6 53.3

健鼎合併現金流量表

單位: 新台幣百萬元 本期淨利* 折舊費用及各項攤提 其他營業活動 營業活動之淨現金流入 購置固定資產資本支出 長期股權投資減少(增加) 其他投資活動 投資活動之淨現金流入 長短期借款增加(減少) 現金股利 其他融資活動 融資活動之淨現金流入 匯率影響數 淨現金部位之增加(減少) 期末現金及約當現金餘額

2013 (IFRS*) 2,892 3,638 -2,321 4,208 -2,169 0 -47 -2,217 2,213 -1,314 36 935 313 3,239 13,353	2014 (IFRS*) 3,240 2,816 106 6,162 -2,500 255 -107 -2,353 4,624 -1,183 -9 3,432 907 8,148 21,501	2015 (IFRS*) 3,531 3,080 496 7,106 -2,299 0 71 -2,228 2,048 -1,445 -21 582 298 5,757 27,258	2016 (IFRS*) 4,477 2,749 1,143 8,369 -1,056 -136 -320 -1,512 -604 -1,708 102 -2,209 -1,658 2,989 30,247	2016 1H (IFRS*) 1,756 1,485 32 3,273 -495 0 59 -436 -2,965 0 29 -2,937 -769 -868 26,390	2017 1H (IFRS*)
					2,504 990 -1,058
					2,436
					-1,886 0 171
					-1,715
					1,650 0 23
					1,673
					-1,732 663
					30,910

• 自2013 開始導入IFRS,本期淨利改為稅前基礎

健鼎 PCB 廠區地理位置

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江蘇- 無錫I (2003)

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江蘇- 無錫II (2007)

湖北- 仙桃(2013)

台灣- 平鎮(1998)