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Tripod Investor Presentation 2021

Sep 8, 2021

52276_rns_2021-09-08_e3293a7e-143c-4452-ba84-adf1cbb25cc9.pdf

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==> picture [842 x 120] intentionally omitted <==

Presentation

==> picture [842 x 120] intentionally omitted <==

September 2021

Worldwide PCB Production Region Value

M USD
America+
Europe
Japan
Korea
Taiwan
China
China
Growth
Worldwide
TOTAL
Worldwide
Growth
China's
Share
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%
2020
4,511
5,771
7,031
8,410
35,054
6.4%
65,219
6.4%
53.7%
2021E
5,044
6,795
7,988
9,645
39,940
13.9%
74,375
14.0%
53.7%
M USD
America+
Europe
Japan
Korea
Taiwan
China
China
Growth
Worldwide
TOTAL
Worldwide
Growth
China's
Share
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%
2020
4,511
5,771
7,031
8,410
35,054
6.4%
65,219
6.4%
53.7%
2021E
5,044
6,795
7,988
9,645
39,940
13.9%
74,375
14.0%
53.7%
M USD
America+
Europe
Japan
Korea
Taiwan
China
China
Growth
Worldwide
TOTAL
Worldwide
Growth
China's
Share
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%
2020
4,511
5,771
7,031
8,410
35,054
6.4%
65,219
6.4%
53.7%
2021E
5,044
6,795
7,988
9,645
39,940
13.9%
74,375
14.0%
53.7%
M USD
America+
Europe
Japan
Korea
Taiwan
China
China
Growth
Worldwide
TOTAL
Worldwide
Growth
China's
Share
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%
2020
4,511
5,771
7,031
8,410
35,054
6.4%
65,219
6.4%
53.7%
2021E
5,044
6,795
7,988
9,645
39,940
13.9%
74,375
14.0%
53.7%
M USD
America+
Europe
Japan
Korea
Taiwan
China
China
Growth
Worldwide
TOTAL
Worldwide
Growth
China's
Share
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%
2020
4,511
5,771
7,031
8,410
35,054
6.4%
65,219
6.4%
53.7%
2021E
5,044
6,795
7,988
9,645
39,940
13.9%
74,375
14.0%
53.7%
M USD
America+
Europe
Japan
Korea
Taiwan
China
China
Growth
Worldwide
TOTAL
Worldwide
Growth
China's
Share
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%
2020
4,511
5,771
7,031
8,410
35,054
6.4%
65,219
6.4%
53.7%
2021E
5,044
6,795
7,988
9,645
39,940
13.9%
74,375
14.0%
53.7%
M USD
America+
Europe
Japan
Korea
Taiwan
China
China
Growth
Worldwide
TOTAL
Worldwide
Growth
China's
Share
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%
2020
4,511
5,771
7,031
8,410
35,054
6.4%
65,219
6.4%
53.7%
2021E
5,044
6,795
7,988
9,645
39,940
13.9%
74,375
14.0%
53.7%
M USD
America+
Europe
Japan
Korea
Taiwan
China
China
Growth
Worldwide
TOTAL
Worldwide
Growth
China's
Share
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%
2020
4,511
5,771
7,031
8,410
35,054
6.4%
65,219
6.4%
53.7%
2021E
5,044
6,795
7,988
9,645
39,940
13.9%
74,375
14.0%
53.7%
M USD
America+
Europe
Japan
Korea
Taiwan
China
China
Growth
Worldwide
TOTAL
Worldwide
Growth
China's
Share
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%
2020
4,511
5,771
7,031
8,410
35,054
6.4%
65,219
6.4%
53.7%
2021E
5,044
6,795
7,988
9,645
39,940
13.9%
74,375
14.0%
53.7%
M USD
America+
Europe
Japan
Korea
Taiwan
China
China
Growth
Worldwide
TOTAL
Worldwide
Growth
China's
Share
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%
2020
4,511
5,771
7,031
8,410
35,054
6.4%
65,219
6.4%
53.7%
2021E
5,044
6,795
7,988
9,645
39,940
13.9%
74,375
14.0%
53.7%
M USD America+
Europe
Japan Korea Taiwan China China
Growth
Worldwide
TOTAL
Worldwide
Growth
China's
Share
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%
2020 4,511 5,771 7,031 8,410 35,054 6.4% 65,219 6.4% 53.7%
2021E 5,044 6,795 7,988 9,645 39,940 13.9% 74,375 14.0% 53.7%

Source : Prismark (May. 2021)

2020 Global To 20 PCB Makers p

Unit: Million USD

Rank Makers HQ 2014 2015 2016 2017 2018 2019 2020 20/19
1
2
3
4
5
Zhen Ding
Unimicron
Nippon Mektron

Dongshan Precision (M-Flex & Multek)
TTM
*
Taiwan
Taiwan
Japan
China
USA
2504(2)
2703(2)
2557(2)
3588(1)
3908(1)
2144(4)
2113(4)
2036(4)
2240(4)
2620(4)
3154(1)
3591(1)
3212(1)
3323(2)
2856(2)
1361(9)
1364(8)
1222(7)
1403(8)
1789(5)
2376(3)
2525(3)
2533(3)
2658(3)
2847(3)
3889(1)
4442(1)
2781(2)
3117(2)
2555(4)
2594(3)
2140(5)
2523(4)
2689(3)
2105(5)
14.2%
12.1%
1.5%
17.9%
-21.7%
6 Compeq Taiwan 1116(13)
1395(6)
1415(5)
1778(5)
1681(7)
1820(6)
2063(6)
13.4%
7 Tripod Taiwan 1400(8)
1368(7)
1351(6)
1510(7)
1727(6)
1763(7)
1891(7)
7.3%
8
9
10
Shennan
PSA Group
SEMCO
China
Taiwan
Korea
528(30)
566(30)
693(23)
842(21)
1145(14)
958(15)
825(16)
828(15)
1304(9)
1480(8)
1551(6)
1344(9)
1140(9)
1284(10)
1346(9)
1522(8)
1684(8)
1396(9)
1557(9)
1383(10) 1504(10)
9.4%
11.5%
8.7%
11
12
13
14
15
Ibiden
Young Poong Group (KCC, Interflex*)
Kingboard PCB Group
Nanya PCB
AT&S
Japan
Korea
China
Taiwan
Austria
1455(7)
1297(10)
951(12)
973(15)
1083(15)
1675(5)
1295(11)
1201(8)
1777(6)
1217(11)
965(14)
930(13)
980(11)
1051(14) 1245(10)
1154(12)
944(12)
905(13)
876(18)
955(18)
829(16)
844(15)
876(14)
1093(13) 1202(12)
1156(14) 1444(11)
1303(11) 1408(12)
1235(12) 1356(13)
1007(17) 1312(14)
1110(15) 1290(15)
24.9%
8.0%
9.8%
30.3%
16.2%
16
17
18
19
20
Wus Group
Shinko
Meiko
Simmtech
Fujikura*
Taiwan
Japan
Japan
Korea
Japan
750(21)
737(20)
723(20)
847(20)
1012(17)
663(24)
603(28)
580(29)
740(26)
755(27)
828(17)
788(18)
869(15)
947(16)
1074(16)
632(27)
663(24)
682(23)
832(22)
917(21)
563(29)
819(17)
824(18)
1099(12) 1154(13)
1195(13) 1243(16)
809(23)
1085(17)
1075(16) 1045(18)
857(21)
1029(19)
938(18)
1023(20)
4.0%
34.1%
-2.8%
20.0%
8.8%
Top20 PCB Makers 32623
35715
9.5%

==> picture [46 x 46] intentionally omitted <==

  • FPCB Makers Include FPCB Assembly Value

Source : Prismark

** TTM sold its Mobility Business to AKM Meadville in 2020

Consolidated Income Statement

Unit : Million NTD
Operating Exp.
Net Sales
Dep.& Amort.
Net Income
Other Expense
Operating Income
Pretax Income
Non-Op. Income
Attributable to:
Basic EPS
the Parent
Income Tax
Gross Profit
COGS
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
AMT
%
55,548
100.0%
44,397
79.9%
11,150
20.1%
4,576
8.2%
0
0.0%
6,574
11.8%
1,182
2.1%
7,757
14.0%
1,631
2.9%
6,125
11.0%
6,126
11.0%
$11.65
3,290
5.9%
2020
AMT
%
24,728
100.0%
20,347
82.3%
4,381
17.7%
2,111
8.5%
0
0.0%
2,269
9.2%
630
2.5%
2,900
11.7%
608
2.5%
2,292
9.3%
2,292
9.3%
$4.36
1,612
6.5%
1H20
1H21 1H21
AMT AMT AMT AMT AMT %
52,106
42,341
54,451
43,185
55,548
44,397
24,728
20,347
30,144
24,603
100.0%
81.6%
9,764
4,343
0
11,266
4,393
103
11,150
4,576
0
4,381
2,111
0
5,541
2,466
0
18.4%
8.2%
0.0%
5,422
1,103
6,771
1,028
6,574
1,182
2,269
630
3,075
429
10.2%
1.4%
6,525
1,587
7,798
1,761
7,757
1,631
2,900
608
3,504
766
11.6%
2.5%
4,939 6,037 6,125 2,292 2,738 9.1%
4,938 6,037 6,126 2,292 2,738 9.1%
$9.40 $11.49 $11.65 $4.36 $5.21
2,969 3,301 3,290 1,612 1,870 6.2%

==> picture [46 x 46] intentionally omitted <==

Consolidated Quarterly Income Statement

Unit : Million NTD
Pretax Income
Operating Income
Non-Op. Income
Other Expense
Net Income
COGS
Gross Profit
Operating Exp.
Net Sales
Dep.& Amort.
Basic EPS
Income Tax
the Parent
Attributable to:
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
AMT
%
15,109
100.0%
11,865
78.5%
3,244
21.5%
1,259
8.3%
0
0.0%
1,985
13.1%
315
2.1%
2,300
15.2%
468
3.1%
1,832
12.1%
1,832
12.1%
$3.49
853
5.6%
2020 Q4
AMT
%
15,101
100.0%
12,276
81.3%
2,825
18.7%
1,275
8.4%
0
0.0%
1,550
10.3%
224
1.5%
1,773
11.7%
365
2.4%
1,408
9.3%
1,408
9.3%
$2.68
889
5.9%
2021 Q1
2021 Q2 2021 Q2
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
315
2,300
468
1,832
AMT
15,101
12,276
2,825
1,275
0
1,550
224
1,773
365
1,408
AMT
15,043
12,327
2,716
1,191
0
1,525
206
1,731
401
1,330
%
100.0%
81.9%
18.1%
7.9%
0.0%
10.1%
1.4%
11.5%
2.7%
8.8%
1,315
$2.50
2,001
$3.81
1,832
$3.49
1,408
$2.68
1,330
$2.53
8.8%
798 825 853 889 981 6.5%

==> picture [46 x 46] intentionally omitted <==

==> picture [46 x 46] intentionally omitted <==

Cash and Cash Equivalents
Other Current Assets
Fixed Assets
Intangible and Other Assets
Total Assets
Short-Term Loans
Other Current Liabilities
Long-Term Borrowings
Other Liabilities
Shareholder's Equities
Total Liabilities and Equities
Unit: Million NTD
AMT
%
27,151
38.0%
24,684
34.5%
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%
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%
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%
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
%
25,992
37.9%
23,434
34.2%
15,869
23.2%
3,203
4.7%
68,499
100.0%
10,887
15.9%
22,909
33.4%
0
0.0%
2,874
4.2%
31,829
46.5%
68,499
100.0%
2020 1H
AMT
%
25,992
37.9%
23,434
34.2%
15,869
23.2%
3,203
4.7%
68,499
100.0%
10,887
15.9%
22,909
33.4%
0
0.0%
2,874
4.2%
31,829
46.5%
68,499
100.0%
2020 1H
AMT
%
26,033
34.6%
26,785
35.6%
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%
2020
AMT
%
26,033
34.6%
26,785
35.6%
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%
2020
2021 1H
AMT
27,151
24,684
17,038
2,648
71,521
16,997
19,766
0
2,328
32,429
71,521
AMT
27,614
25,048
15,988
2,955
71,605
14,411
20,261
0
2,784
34,149
71,605
AMT
25,992
23,434
15,869
3,203
68,499
10,887
22,909
0
2,874
31,829
68,499
AMT
26,033
26,785
19,274
3,158
75,249
13,971
22,060
0
3,158
36,060
75,249
AMT
%
24,310
29.5%
29,414
35.7%
22,970
27.9%
5,644
6.9%
82,338
100.0%
15,715
19.1%
28,404
34.5%
0
0.0%
3,267
4.0%
34,952
42.4%
82,338
100.0%
Asset Turnover (x)
Fixed Asset Turnover (x)
ROA (%)
ROE (%)
Current Ratio (%)
Debt / Asset Ratio (%)
Net Debt / Equity Ratio (%)
Net Cash Per Share (NT$)
Book Value Per Share(NT$)
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
0.71
3.10
6.5%
13.9%
146%
54%
-47%
28.7
60.6
0.76
3.15
8.3%
17.4%
147%
52%
-33%
22.9
68.6
0.77
2.85
7.0%
15.4%
122%
58%
-25%
16.4
66.5

==> picture [46 x 46] intentionally omitted <==

Unit: Million NTD
Income before Income Tax
Depreciation & Amortization
Others
Cash Flow from Operations
Acquisition of Fixed Assets
Others
Cash Flow from Investments
Increase (Decrease) in Loans
Cash Dividends Paid
Others
Cash Flow from Financing
Foreign Exchange Translation
Increase (Decrease) in Cash
Cash at the End of the Year
2017
5,543
2,121
-3,031
4,633
-5,000
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
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
-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
-16
-5,987
70
-3,811
110
-3,630
-562
-1,581
26,033
1H20 1H21
2,900
1,612
-432
3,504
1,870
-2,372
4,079 3,002
-1,807
-6
-4,578
-2,276
-1,812 -6,853
-3,453
0
77
1,830
0
-87
-3,376 1,744
-512
-1,623
384
-1,723
25,992 24,310

Appendix- PCB Facilities Location

==> picture [492 x 145] intentionally omitted <==

==> picture [297 x 196] intentionally omitted <==

==> picture [492 x 146] intentionally omitted <==

JiangSu- WuXi Site I (2003)

==> picture [292 x 189] intentionally omitted <==

==> picture [207 x 154] intentionally omitted <==

==> picture [288 x 152] intentionally omitted <==

JiangSu- WuXi Site II (2007)

HuBei- XianTao (2013)

Taiwan- PingJen (1998)