Tripod — Annual Report 2020

Mar 16, 2021

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健鼎科技

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2021 年 03 月

全球PCB製造產值區域別

M USD	America+ Europe	Japan	Korea	Taiwan	China	China Growth	Worldwide TOTAL	Worldwide Growth	China's Share
2011	6,375	9,638	6,487	7,372	22,029	9.2%	55,409	5.6%	39.8%
2012	5,622	9,074	7,473	6,856	22,936	4.1%	55,669	0.5%	41.2%
2013	5,234	6,995	8,123	7,107	24,560	7.1%	56,152	0.9%	43.7%
2014	5,197	6,530	7,645	7,586	26,203	6.7%	57,437	2.3%	45.6%
2015	4,709	5,655	6,652	7,204	26,729	2.0%	55,325	-3.7%	48.3%
2016	4,662	5,253	6,232	6,922	27,123	1.5%	54,207	-2.0%	50.0%
2017	4,705	5,256	6,860	7,536	29,732	9.6%	58,843	8.6%	50.5%
2018	4,833	5,439	6,550	7,842	32,702	10.0%	62,396	6.0%	52.4%
2019	4,583	5,288	6,439	7,676	32,942	0.7%	61,311	-1.7%	53.7%
2020E	4,445	5,628	6,941	8,298	34,296	4.1%	63,981	4.4%	53.6%

Source : Prismark (Nov. 2020)

2019年全球前20大PCB公司

單位: 百萬美金

Rank		Makers	HQ		2013	2014	2015	2016	2017		2018	2019		19/18
1 2 3 4 5	Zhen Ding Unimicron TTM Nippon Mektron Dongshan Precision(M-Flex* & Multek)		Taiwan Taiwan USA Japan China	2166(3) 2504(2) 2703(2) 2557(2) 3588(1) 2133(5) 2144(4) 2113(4) 2036(4) 2240(4) 2380(2) 2376(3) 2525(3) 2533(3) 2658(3) 2556(1) 3154(1) 3591(1) 3212(1) 3323(2) 1405(8) 1361(9) 1364(8) 1222(7) 1403(8)						3908(1) 3889(1) 2620(4) 2781(2) 2847(3) 2689(3) 2856(2) 2555(4) 1789(5) 2140(5)			-0.5% 6.1% -5.5% -10.5% 19.6%
6	Compeq		Taiwan	1041(13) 1116(13) 1395(6) 1415(5) 1778(5)						1681(7) 1820(6)			8.2%
7	Tripod		Taiwan	1372(9) 1400(8) 1368(7) 1351(6) 1510(7)						1727(6) 1763(7)			2.1%
8 9 10	Shennan PSA Group SEMCO		China Taiwan Korea	425(NA) 528(30) 566(30) 693(23) 842(21) 972(14) 958(15) 825(16) 828(15) 1304(9) 1700(6) 1551(6) 1344(9) 1140(9) 1284(10)						1145(14) 1521(8) 1480(8) 1396(9) 1346(9) 1336(10)			32.9% -5.6% -0.7%
11 12 13 14 15	Young Poong Group Kingboard PCB Group Wus Group Ibiden AT&S		Korea HongKong China Japan Austria	2065(4) 1675(5) 1295(11) 1201(8) 1777(6) 922(15) 965(14) 930(13) 980(11) 1051(14) 680(24) 750(21) 737(20) 723(20) 847(20) 1567(7) 1455(7) 1297(10) 951(12) 973(15) 780(17) 829(16) 844(15) 876(14) 1093(13)						1217(11) 1302(11) 1245(10) 1235(12) 1012(17) 1195(13) 1083(15) 1156(14) 1202(12) 1110(15)			7.0% -0.8% 18.1% 6.8% -7.7%
16 17 18 19 20	Meiko Nanya PCB Fujikura* Daeduck Group Kinwong		Japan Taiwan Japan Korea China	690(23) 828(17) 788(18) 869(15) 947(16) 1088(12) 1154(12) 944(12) 905(13) 876(18) 380(NA) 563(29) 819(17) 824(18) 1099(12) 1190(11) 1215(11) 923(14) 828(17) 882(17) 282(NA) 358(NA) 566(NA) 495(NA) 621(28)						1074(16) 1075(16) 955(18) 1007(17) 1154(13) 938(18) 927(20) 922(19) 752(27) 895(20)			0.1% 5.4% -18.8% -0.5% 19.0%
	Top20 PCB Makers									32020 32725			2.2%

• FPCB Makers Include FPCB Assembly Value

Source : Prismark

** On a pro forma basis, Dongshan Precision Acquired M-Flex in 2016 & Multek in 2018

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 % 13,998 100.0% 11,024 78.7% 2,975 21.3% 1,140 8.1% 0 0.0% 1,835 13.1% 305 2.2% 2,140 15.3% 476 3.4% 1,664 11.9% 1,664 11.9% $3.17 800 5.7% 2019 Q4	AMT % 11,718 100.0% 9,861 84.2% 1,857 15.8% 1,008 8.6% 0 0.0% 848 7.2% 364 3.1% 1,213 10.3% 235 2.0% 977 8.3% 977 8.3% $1.86 814 6.9% 2020 Q1	AMT % 13,010 100.0% 10,486 80.6% 2,524 19.4% 1,103 8.5% 0 0.0% 1,421 10.9% 266 2.0% 1,687 13.0% 372 2.9% 1,315 10.1% 1,315 10.1% $2.50 798 6.1% 2020 Q2	AMT % 15,711 100.0% 12,186 77.6% 3,526 22.4% 1,205 7.7% 0 0.0% 2,320 14.8% 237 1.5% 2,557 16.3% 556 3.5% 2,001 12.7% 2,001 12.7% $3.81 825 5.3% 2020 Q3	2020 Q4	2020 Q4
	AMT 13,998 11,024 2,975 1,140 0 1,835 305 2,140 476 1,664	AMT 11,718 9,861 1,857 1,008 0 848 364 1,213 235 977	AMT 13,010 10,486 2,524 1,103 0 1,421 266 1,687 372 1,315	AMT 15,711 12,186 3,526 1,205 0 2,320 237 2,557 556 2,001	AMT 15,109 11,865 3,244 1,259 0 1,985 341 2,326 494 1,832	%
						100.0% 78.5%
						21.5% 8.3% 0.0%
						13.1% 2.3%
						15.4% 3.3%
						12.1%
	1,664 $3.17	977 $1.86	1,315 $2.50	2,001 $3.81	1,832 $3.49	12.1%
	800	814	798	825	853	5.6%

健鼎年度合併損益表

營業淨利 其他費損 折舊與攤提 淨利歸屬於: 營業外淨收益 營業毛利 營業費用 營業收入淨額 營業成本 基本每股盈餘 本公司業主 稅前淨利 所得稅費用 本期淨利 單位:新台幣百萬元	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	AMT % 45,819 100.0% 37,464 81.8% 8,355 18.2% 3,624 7.9% -67 -0.1% 4,798 10.5% 745 1.6% 5,543 12.1% 1,177 2.6% 4,366 9.5% 4,366 9.5% $8.31 2,121 4.6% 2017	AMT % 52,106 100.0% 42,341 81.3% 9,764 18.7% 4,343 8.3% 0 0.0% 5,422 10.4% 1,103 2.1% 6,525 12.5% 1,587 3.0% 4,939 9.5% 4,938 9.5% $9.40 2,969 5.7% 2018	AMT % 54,451 100.0% 43,185 79.3% 11,266 20.7% 4,393 8.1% 103 0.2% 6,771 12.4% 1,028 1.9% 7,798 14.3% 1,761 3.2% 6,037 11.1% 6,037 11.1% $11.49 3,301 6.1% 2019	2020	2020
	AMT	AMT	AMT	AMT	AMT	%
	43,513 35,695	45,819 37,464	52,106 42,341	54,451 43,185	55,548 44,397	100.0% 79.9%
	7,818 3,679 450	8,355 3,624 -67	9,764 4,343 0	11,266 4,393 103	11,150 4,576 0	20.1% 8.2% 0.0%
	3,689 788	4,798 745	5,422 1,103	6,771 1,028	6,574 1,182	11.8% 2.1%
	4,477 904	5,543 1,177	6,525 1,587	7,798 1,761	7,757 1,631	14.0% 2.9%
	3,573	4,366	4,939	6,037	6,125	11.0%
	3,573	4,366	4,938	6,037	6,126	11.0%
	$6.80	$8.31	$9.40	$11.49	$11.65
	2,749	2,121	2,969	3,301	3,290	5.9%

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 % 30,247 47.8% 18,950 29.9% 0 0.0% 11,321 17.9% 2,782 4.4% 63,301 100.0% 16,913 26.7% 14,871 23.5% 0 0.0% 1,951 3.1% 29,566 46.7% 63,301 100.0% 2016	AMT % 30,247 47.8% 18,950 29.9% 0 0.0% 11,321 17.9% 2,782 4.4% 63,301 100.0% 16,913 26.7% 14,871 23.5% 0 0.0% 1,951 3.1% 29,566 46.7% 63,301 100.0% 2016	AMT % 29,753 42.4% 22,427 31.9% 0 0.0% 15,670 22.3% 2,344 3.3% 70,194 100.0% 18,749 26.7% 18,689 26.6% 0 0.0% 2,051 2.9% 30,705 43.7% 70,194 100.0% 2017	AMT % 29,753 42.4% 22,427 31.9% 0 0.0% 15,670 22.3% 2,344 3.3% 70,194 100.0% 18,749 26.7% 18,689 26.6% 0 0.0% 2,051 2.9% 30,705 43.7% 70,194 100.0% 2017	AMT % 27,151 38.0% 24,684 34.5% 0 0.0% 17,038 23.8% 2,648 3.7% 71,521 100.0% 16,997 23.8% 19,766 27.6% 0 0.0% 2,328 3.3% 32,429 45.3% 71,521 100.0% 2018	AMT % 27,151 38.0% 24,684 34.5% 0 0.0% 17,038 23.8% 2,648 3.7% 71,521 100.0% 16,997 23.8% 19,766 27.6% 0 0.0% 2,328 3.3% 32,429 45.3% 71,521 100.0% 2018	AMT % 27,614 38.6% 25,048 35.0% 0 0.0% 15,988 22.3% 2,955 4.1% 71,605 100.0% 14,411 20.1% 20,261 28.3% 0 0.0% 2,784 3.9% 34,149 47.7% 71,605 100.0% 2019	AMT % 27,614 38.6% 25,048 35.0% 0 0.0% 15,988 22.3% 2,955 4.1% 71,605 100.0% 14,411 20.1% 20,261 28.3% 0 0.0% 2,784 3.9% 34,149 47.7% 71,605 100.0% 2019	2020
	AMT 30,247 18,950 0 11,321 2,782 63,301 16,913 14,871 0 1,951 29,566 63,301		AMT 29,753 22,427 0 15,670 2,344 70,194 18,749 18,689 0 2,051 30,705 70,194		AMT 27,151 24,684 0 17,038 2,648 71,521 16,997 19,766 0 2,328 32,429 71,521		AMT 27,614 25,048 0 15,988 2,955 71,605 14,411 20,261 0 2,784 34,149 71,605		AMT % 26,033 34.6% 26,785 35.6% 0 0.0% 19,274 25.6% 3,158 4.2% 75,249 100.0% 13,971 18.6% 22,060 29.3% 0 0.0% 3,158 4.2% 36,060 47.9% 75,249 100.0%
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 (%) 淨負債比率 (%) 每股淨現金 (NT$) 每股淨值 (NT$)	0.69 3.38 5.7% 12.0% 155% 53% -45% 25.4 56.3		0.69 3.40 6.5% 14.5% 139% 56% -36% 20.9 58.4		0.74 3.19 7.0% 15.6% 141% 55% -31% 19.3 61.7		0.76 3.30 8.4% 18.1% 152% 52% -39% 25.1 65.0		0.76 3.15 8.3% 17.4% 147% 52% -33% 22.9 68.6

健鼎合併現金流量表

單位: 新台幣百萬元 稅前淨利 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	2015 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 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	2017 5,543 2,121 -3,031 4,633 -5,000 0 1,241 -3,759 2,632 -2,234 63 461 -1,830 -494 29,753	2018 6,525 2,969 -1,849 7,645 -5,609 0 125 -5,484 -2,023 -2,759 41 -4,741 -23 -2,603 27,151	2019 7,798 3,301 -646 10,454 -3,423 0 -24 -3,447 -2,397 -3,101 17 -5,481 -1,062 464 27,614	2020
						7,757 3,290 -2,448
						8,598
						-5,971 0 -16
						-5,987
						70 -3,811 110
						-3,630
						-562 -1,581
						26,033

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)