TXC — Investor Presentation 2014

Jun 4, 2014

www.txccorp.com

Think of Frequency Think of 法人說明會 2014/6/4

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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)
Diverse product
•
10,000+ 種產品變化
for long-term
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營運績效

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CAGR: 8%
USD: Million
500
450
USD377
400
USD327 USD326
350
USD300
300
USD240
250
200
150
100
50
0
2009 2010 2011 2012 2013
淨利率
10% 12% 13% 11% 10%
Think of Frequency, Think of TXC
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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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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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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
Think of Frequency, Think of TXC 10
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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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網通產品及數據中心之解決方案

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High speed processing…
Gigabit Ethernet/Fiber Channel
Super Computer Center Data Center
Design Center Department
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Ultra Low Jitter 50fs
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Ultra Low Jitter 50fs
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High Stability ±10ppm
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High Stability ±5ppm
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無線及智慧家庭之解決方案

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Smartphone, M2M connecting…
LTE
WiFi
BT/BLE
Zigbee
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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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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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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穿戴式產品市場

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Info‐
tainment
4%
Healthca
re
35%
Sports
and
Fitness
61%
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WEARABLE MARKET comprises all technical end devices in the form of clothing and accessories. The central function is the recording and processing of data related to its user.

The market forecast of Wearable devices in 2014 will reach 100M+ > Sport fitness 30M+ > Healthcare 20M+ > Infotainment 10M+

*MARKET VOLUME (in USD 2.5B)

• 醫療保健 娛樂資訊

• 運動及健身

• Devices for the measurement > Technical solutions measuring, > Devices for the extension of of movement, nutrition and storing and sending data for smart phone & cloud brand vital functions functions

• diagnosing and treating patients

• Example: Google Glasses and Sony Smartwatch 2

• Example: Nike+ FuelBand , Garmin and Jawbone

• Example: Fitbit Flex

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Fitbit Flex

Think of Frequency, Think of TXC

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Google Glasses
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穿戴式產品焦點

2014

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* Sport fitness 30M+
Healthcare 20M+
> TAM NT$ 9.5M * Infotainment 10M+
> Brands
Apple
Infotainment
SONY
22%
Google Healthcare > TAM NT$17.2M
40%
> Brands
Fibit
Sports and Fitness SIRIIV
> TAM NT$16.3M 38%
Sensoria (Smart Sock )
> Brands Misfit(Shine)
Garmin Bodymedia
Nike
Jawbone (Unit:pcs)
Think of Frequency, Think of TXC 18
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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 19

• Think of Frequency, Think of TXC

2014年資本資出

(單位:新台幣 )

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重慶廠
寧波廠
平鎮廠
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金額:1.2 億 SMD X’TAL (Q3)*10 KK

金額:1.8 億 SMD TSX (Q2)3 KK (Q3)2 KK 金額:3.0 億 SMD TSX / VCXO/ OCXO/ Sensors / RTC Sapphire BW & PSS

總金額: 6.0億

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股利政策

(單位:新台幣元)

0 1 2 3 4 5 6	4.13 4.88 3.56 2.75 4.06 3.48 3.79 3.02 1.94 1.98 2 2 2.5 2.2 2.2 2.2 0.97 0.99 0.5 0.2 0.2 0 0 2006 2007 2008 2009 2010 2011 2012 2013 (單位:新台幣元)
		2006	2007	2008	2009	2010	2011	2012	2013
	每股盈餘	4.13	4.88	3.56	2.75	4.06	3.48	3.79	3.02
	現金股利	1.94	1.98	2	2	2.5	2.2	2.2	2.2
	股票股利	0.97	0.99	0.5	0.2	0.2	0	0	0
	3/31股價	60.6	54.6	32	52.1	55.9	43.55	44.85	40.7
	殖利率	3.20%	3.63%	6.25%	3.84%	4.47%	5.05%	4.91%	5.41%

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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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