TXC — Investor Presentation 2014

Sep 18, 2014

www.txccorp.com

Think of Frequency Think of

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法人說明會 2014/9/19

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全球據點

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Europe China Taiwan Japan America
• • • • •
Germany Ningbo Ping Cheng Yokohama San Jose
• • • •
Chongqing Peitou Osaka Los Angeles
•
Shenzhen
•
Shanghai
•
Suzhou
•
Beijing
•
Wuhan
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• 14 個業務及行銷據點, 150+ 個專業人員提供服務

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生產基地

Taiwan, Ping Cheng (PCF)

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China, Ningbo (NGB)
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China, Chongqing (CKG)

• 3 個生產基地

• • 200+ 條自動化生產線

• • 260M+ 月產能

• • 2 個研發中心(PCF, NGB)

• • 400+ 個工程人員

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產品組合

以完整的解決方案，創新及整合為持續性的競爭優勢

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Crystals Oscillators & Modules Sensors
Metal Can Glass Seal Crystal Oscillators SAW Oscillators Light Sensors
(XO) (SO) (3-in-1)
Seam Seal Tuning MEMS Oscillators Temperature
Fork (MO) Compensated
(TCXO/VC-TCXO)
Coming Soon
Motion Sensors
Temperature Sensor Voltage Oven Real Time Bio Sensors
Crystal Controlled Controlled Clock
(TSX) (VCXO) (OCXO) (RTC)
長期將研發多種新
•
10,000+ 種產品變化
產品
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營收趨勢

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(單位:新台幣百萬元)
4,000
2012:
2013:
3,500 10,928
9,504
2,974 2,981
3,000
2,579
2,500 2,394 2,327 2,331 2,446 2,400 2,358
2,166
2,000
1,500
1,000
500
0
12.Q1 12.Q2 12.Q3 12.Q4 13.Q1 13.Q2 13.Q3 13.Q4 14.Q1 14.Q2
12.Q1 12.Q2 12.Q3 12.Q4 13.Q1 13.Q2 13.Q3 13.Q4 14.Q1 14.Q2
Revenue (QoQ) ‐8.1% 7.7% 15.3% 0.2% ‐21.9% 0.2% 4.9% ‐1.9% ‐9.8% 8.9%
Revenue (YoY) 3.1% 4.2% 19.2% 14.4% ‐2.8% ‐9.6% ‐17.8% ‐19.5% ‐6.9% 1.2%
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毛利趨勢

(單位:新台幣百萬元)

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24.3% 24.6%
24.1%
22.9% 22.9%
23.5%
22.9%
22.8%
22.4%
21.8%
12.Q1 12.Q2 12.Q3 12.Q4 13.Q1 13.Q2 13.Q3 13.Q4 14.Q1 14.Q2
2012: 2013:
2,508 2,194
800
682 683
700 621
600 522 522 566 557 549 509 579
500
400
300
200
100
0
12.Q1 12.Q2 12.Q3 12.Q4 13.Q1 13.Q2 13.Q3 13.Q4 14.Q1 14.Q2
12.Q1 12.Q2 12.Q3 12.Q4 13.Q1 13.Q2 13.Q3 13.Q4 14.Q1 14.Q2
Gross Profit (QoQ) ‐10.9% 19.0% 9.8% 0.1% ‐23.6% 8.4% ‐1.6% ‐1.4% ‐7.3% 13.8%
Gross Profit (YoY) ‐9.4% 2.0% 8.3% 16.6% 0.0% ‐8.9% ‐18.3% ‐19.6% ‐2.5% 2.3%
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淨利趨勢

(單位:新台幣百萬元)

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12.2% 10.9%
10.1% 10.1% 10.2% 10.3%
9.4% 10.8%
9.0%
8.3%
12.Q1 12.Q2 12.Q3 12.Q4 13.Q1 13.Q2 13.Q3 13.Q4 14.Q1 14.Q2
2012:
1,149 2013:
450
400 363 935
326
350
300 261 264
242 242
250 199 209 220 222
200
150
100
50
0
12.Q1 12.Q2 12.Q3 12.Q4 13.Q1 13.Q2 13.Q3 13.Q4 14.Q1 14.Q2
12.Q1 12.Q2 12.Q3 12.Q4 13.Q1 13.Q2 13.Q3 13.Q4 14.Q1 14.Q2
Net Profit (QoQ) ‐23.5% 31.2% 39.1% ‐10.2% ‐35.9% 5.3% 20.0% ‐8.3% ‐8.3% 9.0%
Net Profit (YoY) ‐16.0% 5.2% 19.0% 25.4% 5.0% ‐15.7% ‐27.3% ‐25.8% 6.2% 10.0%
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全球石英元件銷售現況

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VCXO
OCXO
0.52%
0.02%
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OCXO
VCXO 5.17%
7.14%
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Source: CS&A 2014.04

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2013年全球排名

Rank	Company Name	Area	2011	2012	2013	(11-12) Change %	(12-13) Change %	2011 Market Share	2012 Market Share	2013 Market Share
1	Epson Toyocom	Japan	592	610	500	3.0%	-18.0%	16.7%	17.5%	15.3%
2	NDK	Japan	557	540	433	-3.1%	-19.8%	15.7%	15.5%	13.3%
3	TXC	Taiwan	327	377	326	15.3%	-13.5%	9.2%	10.8%	10.0%
4	KED	Japan	265	292	298	10.2%	2.1%	7.5%	8.4%	9.1%
5	KDS	Japan	389	309	260	-20.6%	-15.9%	11.0%	8.9%	8.0%
6	Ventron	USA	196	166	170	-15.3%	2.4%	5.5%	4.8%	5.2%
7	SiWard	Taiwan	90	97	96	7.8%	-1.0%	2.5%	2.8%	2.9%
8	Rakon	New Zealand	111	106	95	-4.5%	-10.4%	3.1%	3.0%	2.9%
9	Hosonic	Taiwan	101	92	94	-8.9%	2.2%	2.9%	2.6%	2.9%
10	River	Japan	52	73	66	-5.8%	-9.6%	1.5%	1.4%	2.0%
11	CTS	USA	53	55	61	3.8%	10.9%	1.5%	1.6%	1.9%
12	Murata(TEW)	Japan	59	57	59	-5.1%	3.5%	1.7%	1.6%	1.8%
13	Taitien	Taiwan	79	59	57	-25.3%	-3.4%	2.2%	1.7%	1.7%
14	Micro Crystal	Switzerland	63	58	55	-7.9%	-5.2%	1.8%	1.7%	1.7%
15	Pericom	USA	52	54	52	3.8%	-3.7%	1.5%	1.5%	1.6%
-	Others	-	553	570	642	-	-	15.6%	16.3%	19.7%
		Total Revenue	3,539	3,489	3,264	-1.4%	-6.4%

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Source: CS&A 2014.04

Think of Frequency, Think of TXC

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台灣晶技於高階石英元件市場逐漸成長

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13.2% 14.5% 12.9%
MHz Crystal/kHz Crystal
3.4% 8.0% 7.6%
TCXO
9.0% 7.3% 7.0%
XO/MO
2.4% 3.5% 7.1%
VCXO
Source: CS&A 2014.04
Think of Frequency, Think of TXC
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台灣晶技-產品別銷售比重預估

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Sapphire
Others Automotive
3% 6%
6% Infrastructure
11%
3% 3%
9% 7%
Networking 32%
29% 31%
27% Mobile
Communication
18%
15%
Mobile
Computing
Think of Frequency, Think of TXC
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市場焦點

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八大服務領域
四大技術
IT與網絡服務
公共安全
公共建設
工業監測
醫療應用
消費電子與家庭
交通運輸
智能建築/家居
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M2M 市場預估
30
25
2017 %
2016 %
17
15 TW:200M
2015 % TW:160M
2014 %
TW:140M
TW:60M
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基地台及微型基地台之解決方案

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Ultra Stability ±3ppb
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High stability ±100ppb
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Ultra Low Jitter 50fs
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Migrating to LTE… SDH/SONET

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Ultra Low Jitter 50fs
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Stability ±10ppm
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High Stability ±5ppm
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電信網路

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IEEE 3GPP
4G 3.75G 3.9G 4G B4G/5G
(WiMax, WiGrid) (HSPA+) (LTE) (LTE-A) (LTE-B,C,D)
2M shipped in
2012, 5M in 2013
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智慧型醫療產品之解決方案

Healthcare monitoring... BT/BLE, WiFi, GNSS Sensor

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Smallest and Thinnest
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Smallest and Thinnest
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Low Jitter  1ps
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ALS+PS+IR LED (Ceramic)
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High Stability ±5ppm
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High stability ±0.5ppm
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醫療產品市場

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汽車類產品之解決方案

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Smart connected car….
Infotainment,
(Telematics, GPS,
AV)
Safety Electronics
System (Airbag,
ABS, TPMS)
ADAS
(Advanced Driver
Assisted System)
Crystal units(AEC Q200)
Metal Can: G2 XO (AEC Q100) TCXO (AEC Q100)
Glass: G0 Seam: G1 Seam: G2
Seam: G1
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Notes:

G3:-40~85ºC / G2: -40~105ºC / G1: -40~125ºC / G0: -40~150ºC

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無線充電& 4G LTE

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無線及智慧型穿戴式產品之解決方案

Wearable technology... BT/BLE, WiFi, GNSS Sensor

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Smallest and Thinnest
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Smallest and Thinnest
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Low Jitter  1ps
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ALS+PS+IR LED (Ceramic)
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High Stability ±5ppm
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High stability ±0.5ppm
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穿戴式產品潛在客戶

• Qualcomm (USA) Broadcom (USA) CSR (Norway)

• SONY Quintic (China) Samsung NXP (Holland) LG ST Micro (Geneva) Apple

• Google Glasses Garmin

• Qualcomm Toq Google TI (Norway) watch

• Nike+ FuelBaned Microsoft Nodic Jawbone UP

• Tom Tom MOTO (Norway) Fitbit Flex

• SONY wristband

• Time schedule 2014 Q1 2014Q2 2014 Q3 2014 Q4 可能之相關應用

• • BLE Crystal Unit • ‧ Integrated combo chipset • WiFi Wireless • CrystalOscillator ‧ Improved transmission capacity and • GPS Communication • TCXO the effective distance

• • NFC System • T/F ‧ Reduced power consumption • MCU Performance ‧ Improved operational efficiency

• • CPU ‧ Smart system management

• • Motion • 3-axis accelerometer Detection • ‧ Improved detected precision 3-axis gyroscope

• • Ambient Sensor • 3-axis magnetometer ‧ Size miniaturization Detection MEMS Sensor • IR image sensor ‧ Multi-axis data sensing

• • Bio Info. • Micro-Microphone

• Detection • Oscillator 21

• Think of Frequency, Think of TXC

全球最小的三合一感測元件

感測元件通常應用於智慧型手機及其他各種智慧應用

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智慧型手機 平板手機
平板電腦
數位相機
(數位單眼相機)
智慧家庭
新產品
智慧型穿戴式產品
三合一光感測元件
2.5x2.0mm 運動及健身
醫療保健
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藍寶石基板應用趨勢

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機會
新應用之成長(行動裝置)
LED(4吋PSS) 之成長
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台灣晶技之策略 發展重心為4吋的SSP/PSS之 LED相關應用

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2014 H1 (Taiwan)
4”PSS demand & supply gap~20k/M
4”PSS demand
4”PSS demand for
keep increase to Q3
LED growth by Epistar
Mobile application
booming by Apple
iphone5
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2014年資本資出

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重慶廠
寧波廠
平鎮廠
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金額:1.2 億新台幣 SMD X’TAL (Q3)*10 KK

金額:1.8 億新台幣 SMD TSX (Q2)3 KK (Q3)2 KK 金額:3.0 億新台幣 SMD TSX / VCXO/ OCXO/ Sensors / RTC Sapphire BW & PSS

總金額: 6.0億新台幣

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營運總結

01 營收將逐季穩定成長;價格壓力趨於穩定 02 毛利率預估將維持略優於2013年上半年以上的水準 汽車、網通及穿戴式相關之新產品將帶來新的營收動能 03 隨著雲端運算的發展，4G 應用將成為高階產品主要的 04 成長動能 新產品將穩步切入市場，並帶來營收成長動力 05

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Thank you

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