TXC — Investor Presentation 2015

Oct 20, 2015

www.txccorp.com

Think of Frequency Think of

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法人說明會 2015/10/21

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議程

• 財務報告

• 市場概況

• 營運重點

 Q&A

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營收趨勢

(單位:新台幣百萬元)

0 500 1,000 1,500 2,000 2,500 3,000 3,500 4,000	2012: 10928	2012: 10928	2012: 10928	2012: 10928			2013: 4	2013: 4	2013: 4		2014: 2	2014: 2	2014: 2
	, (+10.42%) 2,394 2,579 2,974 2,981				2,327	2,331	9,50 (-13.03%) 2,446 2,400 2,166			2,358	9,56 (+0.23%) 2,519 2,483 2,135			2,219	2,417
	12.Q1 12.Q2 12.Q3			12.Q4	13.Q1	13.Q2	13.Q3	13.Q4	14.Q1	14.Q2	14.Q3	14.Q4	15.Q1	15.Q2	15.Q3
	12.Q1	12.Q2	12.Q3	12.Q4	13.Q1	13.Q2	13.Q3	13.Q4	14.Q1	14.Q2	14.Q3	14.Q4	15.Q1	15.Q2	15.Q3
Revenue(QoQ)	‐8.1%	7.7%	15.3%	0.2%	‐21.9%	0.2%	4.9%	‐1.9%	‐9.8%	8.9%	6.8%	‐1.4%	‐14.0%	3.9%	8.9%
Revenue(YoY)	3.1%	4.2%	19.2%	14.4%	‐2.8%	‐9.6%	‐17.8%	‐19.5%	‐6.9%	1.2%	3.0%	3.5%	‐1.4%	‐5.9%	‐4.0%

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毛利趨勢
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(單位:新台幣百萬元)
25.5%
24.3% 24.6%
毛利率
24.1% 25.0%
22.9% 22.9% 24.2%
23.5%
22.1%
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 14.Q3 14.Q4 15.Q1 15.Q2
2012:
2013: 2014:
2,508
2,194 2,331
(+4.46%)
毛利 (-12.52%) (+6.24%)
800
682 683
700 621 609 634
600 522 522 566 557 549 509 579 533 491
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 14.Q3 14.Q4 15.Q1 15.Q2
12.Q1 12.Q2 12.Q3 12.Q4 13.Q1 13.Q2 13.Q3 13.Q4 14.Q1 14.Q2 14.Q3 14.Q4 15.Q1 15.Q2
Gross Profit (QoQ) ‐10.9% 19.0% 9.8% 0.1% ‐23.6% 8.4% ‐1.6% ‐1.4% ‐7.3% 13.8% 5.2% 4.1% ‐15.9% ‐7.9%
Gross Profit (YoY) ‐9.4% 2.0% 8.3% 16.6% 0.0% ‐8.9% ‐18.3% ‐19.6% ‐2.5% 2.3% 9.3% 15.5% 4.7% ‐15.2%
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淨利趨勢

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(單位:新台幣百萬元)
淨利率
10.9%
12.2% 10.6% 10.6%
10.1% 10.1% [10.2%] [10.3%] 10.4%
9.4%
10.8%
8.3% 9.0%
8.0%
12.Q1 12.Q2 12.Q3 12.Q4 13.Q1 13.Q2 13.Q3 13.Q4 14.Q1 14.Q2 14.Q3 14.Q4 15.Q1 15.Q2
2012: 2013: 2014:
淨利 1,149 935 995
450 (+9.43%) (-18.62%) (+6.42%)
363
326
350
261 264 268 263
242 242
250 199 209 220 222 221
177
150
50
‐50 12.Q1 12.Q2 12.Q3 12.Q4 13.Q1 13.Q2 13.Q3 13.Q4 14.Q1 14.Q2 14.Q3 14.Q4 15.Q1 15.Q2
12.Q1 12.Q2 12.Q3 12.Q4 13.Q1 13.Q2 13.Q3 13.Q4 14.Q1 14.Q2 14.Q3 14.Q4 15.Q1 15.Q2
Net Profit (QoQ) ‐23.5% 31.2% 39.1% ‐10.2% ‐35.9% 5.3% 20.0% ‐8.3% ‐8.3% 9.0% 10.7% ‐1.9% ‐16.0% ‐19.9%
Net Profit (YoY) ‐16.0% 5.2% 19.0% 25.4% 5.0% ‐15.7% ‐27.3% ‐25.8% 6.2% 10.0% 1.5% 8.7% ‐0.5% ‐26.9%
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2015年資本支出

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(單位:新台幣 )
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寧波廠
金額:1.0億
SMD X’TAL 10KK
平鎮廠
金額:3.0億
金額:2.0億
SMD X’TAL 20 KK
SMD X’TAL / VCXO/ 2015 Factory + Facility
OCXO/ Sensors / RTC
Sapphire PSS
重慶廠
投資總金額
6.0億
Think of Frequency, Think of TXC
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股利政策

(單位:新台幣元)

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6
4.88
5
4.13 4.06
4 3.56 3.48 3.79
3.02 3.21
3 2.75 2.5 2.5
1.94 1.98 2 2 2.2 2.2 2.2
2
0.97 0.99
1
0.5
0.2 0.2
0 0 0 0
0
2006 2007 2008 2009 2010 2011 2012 2013 2014
2006 2007 2008 2009 2010 2011 2012 2013 2014
每股盈餘 4.13 4.88 3.56 2.75 4.06 3.48 3.79 3.02 3.21
現金股利 1.94 1.98 2 2 2.5 2.2 2.2 2.2 2.5
股票股利 0.97 0.99 0.5 0.2 0.2 0 0 0 0
3/31 股價 60.6 54.6 32 52.1 55.9 43.55 44.85 40.7 40.05
殖利率 3.20% 3.63% 6.25% 3.84% 4.47% 5.05% 4.91% 5.41% 6.24%
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全球石英元件市場概況

Worldwide X'tal & Oscillator Shipment Y2008~2017

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20,000 30%
25% 25%
20%
15,000
15%
10%
10,000 5% 2% 2% 1% 1% 5%
2% ‐2% 2% 0%
5,000 ‐5%
‐9% ‐10%
0 ‐15%
2008 2009 2010 2011 2012 2013 2014 2015(f) 2016(e) 2017(e)
WW Shipment(Million pcs) YoY
Worldwide X'tal & Oscillator Revenue Y2008~2017
4,000 25%
3,500 20% 20%
15%
3,000
10%
2,500
1% 5%
2,000 ‐1.4%
‐3% ‐2% 0%
1,500 ‐6.5% ‐2% ‐1%
‐5% ‐5%
1,000 ‐10%
500 ‐14% ‐15%
0 ‐20%
2008 2009 2010 2011 2012 2013 2014 2015(f) 2016(e) 2017(e)
WW Revenue(Million USD) YoY
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2014年全球排名第3

2014 Rank	Company Name	2014 Revenue (M)	Percent of Total
1	Epson Toyocom	$449	14.1%
2	NDK	$417	13.1%
3	TXC	$323	10.1%
4	KCD	$293	9.2%
5	KDS	$264	8.3%
6	Vectron	$176	5.5%
7	SiWard	$99	3.1%
8	Hosonic	$95	3.1%
9	Rakon	$71	2.2%
10	Failong	$65	2.0%
	Other Companies	$938	29.3%
	Total Revenue	$3,190	100.0%

*TXC total revenue included others

Source: TXC, CS&A 2015

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2014年台灣晶技各產品之市佔率及排名

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Source: TXC, CS&A 2015
Units Share Position
kHz Crystal 140M+ 2% No. 4
No. 1
MHz Crystal 2.2B+ 25%
XO 90M+ 12% No. 3
TCXO No. 3
173M+ 12%
VCXO No. 4
9M+ 10%
-
OCXO
5K+ <1%
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台灣晶技-產業別銷售比重分析

SAPPHIRE AUTOMOTIVE

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OTHERS
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NETWORKING & INFRASTRUCTURE

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8%
27%
20%
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MOBILE COMMUNICATION

MOBILE COMPUTING

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台灣晶技-產品別銷售比重分析

KHz X’tal Others

Sapphire 5% 4% Sensor 4% 4%[5%] 6% 1%[4%] XO/SO 13% 13% 11% 11% 60% 59% TCXO MHz X’tal

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物聯網發展概況

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、 、 智能產品，如手機 電視 汽 、 用 家庭及工業設備等皆可透過 網際網路互相連結，並達到以下 目的:

1. 使系統自動化

2. 使迅息傳輸更為便利 3. 收集資訊 這些互相連網及連結的事物稱之 為物聯網(IoT)

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物聯網結合各種通訊技術 台灣晶技可提供各種的物聯網解決方案

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感測元件 連結 應用
Accelerometer
Gyro LTE Software
E-Compass Bluetooth, WiFi, NFC Apps
Pressure GNSS
Light & Proximity ZigBee
持續研究發展更多 發展高效能及小型 強化感測元件相關
的感測元件 化之石英元件 程式
These are TXC focuses Source: TXC, IDC
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台灣晶技提供各種輕薄短小且高效能之石英元件應用於各類型 、 智慧型手機 筆記型電腦及平板電腦之無線傳輸功能

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•
3G/4G
LTE
•
WiFi
•
BT/BLE
•
NFC
•
GNSS
Source: BER
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Crystal

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Smallest and Thinnest
0.30mm
1.2x1.0x0.30mm
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TSX
Smallest and Thinnest
1.6x1.2x0.55mm
TCXO/VCTCXO
High stability ±0.5ppm
Smallest: 1.6x1.2x0.55mm
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台灣晶技已成功切入感測元件，未來仍將持續研發應用在智慧 型手機相關應用之感測元件

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New Sensors 2013 Q2 launched Combo Ambient Light + Proximity Sensors (LED/VCSEL) • Smallest package 2.5x2.0mm • Slim package 4.5x0.9mm

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2015 Q2 launched Anti-magnetic interference and low power e-Compass Sensors • 3-Axis e-Compass, 1.6x1.6mm • 6-Axis e-Compass, 2.5x2.5mm (Magnetometer + Accelerometer)

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Source: Samsung

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無線傳輸及感測元件的技術已被應用在穿戴產品、智慧家庭及 醫療設備，預期將為台灣晶技帶來新的成長動能

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•
3G/4G
LTE
•
WiFi
•
BT/BLE
•
GNSS
•
HiFi
Audio
•
Sensors
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Source: Apple, Fitbit, CTimes

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New
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Ambient Light + Proximity e-Compass

Crystal

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Smallest and Thinnest
0.30mm
1.2x1.0x0.30mm
TSX
Smallest and Thinnest
1.6x1.2x0.55mm
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High stability ±0.5ppm Smallest: 1.6x1.2x0.55mm XO Phase noise  -100dBc/Hz @ 10Hz; 2.5x2.0x0.75mm

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微型基地台及基地台相關產品為本公司重要的成長與獲利來源

Ultra Low Jitter 50fs Ultra Low Jitter  50fs High Frequency  700MHz Frequency up to 700MHz

Ultra Stability ±3ppb High stability ±100ppb Ultra Stability ±3ppb Ultra Stability ±100ppb Stratum 3/3E Grade Stratum 3 Stratum 3/3E Stratum 3

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Source: Infonetics
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Ultra Low Jitter 50fs Ultra Low Jitter  50fs High Frequency  800MHz Frequency up to 800MHz

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Crystal
High Stability ±10ppm
High Stability ±10ppm
Fund. Frequency  400MHz
Frequency up to 400MHz
32kHz RTC
High Stability ±5ppm
High Stability ±5ppm
Temperature Compensated
Temperature Compensated
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台灣晶技生產各種高可靠度汽車專用之石英元件 相關產品皆符合AEC-Q100與AEC-Q200之標準

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ISO/TS 16949 Certified

Metal Can: -40~105ºC Glass: -40~150ºC Seam: -40~125ºC

Seam: -40~105ºC

Seam: -40~105ºC

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

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新商機: 專業的無人機預估將應用8個石英元件

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新商機: 頭戴式顯示系統(HMD)將應用3~10個石英元件及1~2個 感測元件

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LED及PSS市場趨勢

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Ref.: LED Forum, Epistar, Mar 25, 2015

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LED照明及PSS需求仍持續成長
且短期內沒有替代性產品或技術
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Ref.: LED inside, July, 2014

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2015 LED營運策略

• 穩定成長為2015年的策略目標

• 主力聚焦4＂PSS產品，並發展6＂ 產品

• 維持台灣主力客戶、積極開發大 中華市場

• 提升產品良率、產出最大化

• 成本持續改善

• 2015 4＂PSS目標出貨量400k，較 2014成長100%

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Wafer, 5%
Others,
1%
Wafer,
12%
PSS, 87%
PSS, 95%
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營運總結

01 Q4營收將穩定成長;同業競爭仍會產生價格壓力 02 毛利率將可維持2014年相近之水平 汽車、網通、物聯網、穿戴式、無人機及頭 03 戴顯示系統相關新產品將帶來新的營收動能

04 本公司將持續發展新產品並創造新的商機

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Thank you

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