TYC — Interim / Quarterly Report 2019

May 17, 2019

TYC Brother Industrial Co., Ltd. 目錄

• TYC Overview

• TYC Group Global Network

• Financial Data

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TYC Brother Industrial Co. Overview

Established : Sept. 9, 1986 Initial Public Offerings : Oct.6,1997

Tainan Plants

AN-PING: 16,200sq.m

Management; HR,IT & Adm; Finance; Sales; OEM R&D; Test Lab ;Tool Shop & High Performance Luminaire

Capital : NTD $ 3.1 Billion

TECH PARK PHASE 1:62,300sq.m

2018 Sales turnover : NTD $16.6 Billion

Manufacturing; Assembly; Purchasing & Production Control; QA; Aftermarket R&D ; Storage; Warehouse; Shipping

Principal Activity: Manufacture & Sales of Lighting Devices

• Mobile: Automotive, Bus, Motorcycle, Truck & Off-road Equipment

TECH PARK PHASE 2 :12,722 sq.m Storage of aftermarket outsource products & Logistic Center

TECH PARK PHASE 3 : 20,761 sq.m OEM assembly line; OEM parts Storage ; Warehouse & Shipping

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TYC Group Global Network

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2018 TYC Consolidated Sales NTD $16.6 Billion
6
7 9 8
11
10 CQ 2 CZ 2
3
4
1
5
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Sales & Distribution Warehouse Facilities

EUROPE

6The Netherlands-TYC Europe B.V.

N. AMERICA- Genera Corporation

• 7 California 10Texas 8 New Jersey 11Georgia

• 9 Illinois

Manufacturing & Sales Facilities

REST OF WORLD

1 TAIWAN

2China VTYC, Changzhou & Chongqing(JV) 3China Tamou Precision, Changzhou 4China Kun Shan TYC High Luminaire 5 Thailand TIT International Co., Ltd.

• TYC Brother Industrial Co., Ltd.

• JUOKU Technology Co., Ltd.

• DBM Reflex of Taiwan Co., Ltd.(JV)

• I Yuan Precision Ind. Co., Ltd. (AFF)

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– Manufacturing & Sales Facilities TYC Group

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Manufacturing Stronghold
China Taiwan Thailand
VTYC, Changzhou (JV)
Tamou Precision , CZ
Kun Shan TYC High Luminaire
HQ An-Ping
•
TYC Brother Industrial Co., Ltd.
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HQ An-Ping Tech Park Phase 1 & Phase 2 & Phase3
•
TYC Brother Industrial Co., Ltd.
•
JUOKU Technology Co., Ltd.
•
DBM Reflex of Taiwan Co., Ltd (JV)
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VTYC, Chongqing (JV)
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• JUOKU Technology Co., Ltd.

• • DBM Reflex of Taiwan Co., Ltd (JV)

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T.I.T. International, Rayong
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N. America & Europe Warehouse Logistic

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NORTH AMERICA- Genera Corporation
Illinois
Headquarter
Brea, California
EUROPE -TYC Europe B.V.
The Netherlands
New Jersey
California
Georgia
Texas
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Taiwan Excellence Award

Vehicle Lighting Products

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Coach HL full LED
Hi-Low PES w/plastic
Full LED Motorcycle
lens ; dual color
Tail Lamp
function L.G
3D Mirror Tunnel
Motorcycle effect full LED
Motorcycle HL with Full LED HL Rear Combination Full LED w/diffusion
DRL LED Light Guide Automotive Head Lamp Lamp Homogeneous DRL
With
Light function
DRL Light Guide
Full LED
Rear Combination
Full LED w/grid
Lamp
Pattern optic tech
TYC patents
2013 2014 2015 2016 2017 2018
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21

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2017 Taiwan Excellence Award

Vehicle Lighting Products

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2016 Best of the Best Award in Germany for New Ducati XDiavel S Motorcycle Head Lamp

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ODM Design --Dual Light guide for Taiwan PGO

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2017 Taiwan Excellence Award

Vehicle Lighting Products

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Full LED 5 in 1 Headlamp (H/L ,DRL,
Position,Turn) for IRIZAR,Spain

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TYC 6 Years Consolidated Sales

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2013-2018( IN NTD $100M)

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200.0
187.6
Merging Genera Adapting new IFRS, VTYC
In 2014 (50% JV) excluded from
180.0
165.0 consolidated revenue 166.2
159.6 160.6
160.0 150.5
140.0
120 . 0
100.0
80.0
60.0
40.0
20.0
0.0
2013 2014 2015 2016 2017 2018
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TYC 6 Years Gross Margin

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30.0%
24.5%
25.0%
21.9% 21.8% 22.1%
20.0%
20.0%
17.8%
15.0%
10.0%
5.0%
0.0%
2013 2014 2015 2016 2017 2018
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TYC 6 Years Net Income

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Unit: Million (NTD)
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1,200
987
1,000
800 759
660
623
600
512
400
200
63
-
2013 2014 2015 2016 2017 2018
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TYC 6 Years EPS

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Unit: NTD
3.50
3.17
3.00
2.43
2.50
2.12
2.00
2.00
1.64
1.50
1.00
0.50
0.20
-
2013 2014 2015 2016 2017 2018
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VarrocTYC 6 Years Sales

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Unit: Million (RMB)
1,600
1,420
1,374
1,400
1,173
1,200
967
1,000 944 943
800
600
400
200
-
2013 2014 2015 2016 2017 2018
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VarrocTYC 6 Years Net Income

Unit: Million (RMB)

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160
148
143
140
120
96
100
80
67
63
60 54
40
20
-
2013 2014 2015 2016 2017 2018
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Income Statement

2019Q1

Unit: Thousand (NTD)

	ITEM	2019Q1	2019Q1	2018Q1	2018Q1
		金額	%	金額	%
	Sales Cost of goods sold Gross profit Less:Unrealized gain on related Add:Realized gain on related Total gross profit Operating expenses Selling expenses General & administrative expenses	$4,346,628 (3,314,082)	100 (76)	$4,281,901 (3,306,035)	100 (77) 23 - - 23 (9) (6)
		1,032,546 (33) 29	24 - -	975,866 (727) 1,262
		1,032,542	24	976,401
		(381,359) (252,048)	(9) (6)	(404,911) (237,324)
	Research and development expenses Expected credit impairment income(loss) Total expenses Operating income Non-operating revenue & expenses Other income Other gain & loss Financial cost Investment income recognized under equity method Total non-operating revenue & expenses Net income before tax Income tax expense Net income after tax EPS： Total basic earnings per share	(119,300) (3,915)	(3) -	(94,164) 21,882	(2) 1 (17) 6 - (1) (1) 2 - 6 - 6
		(756,622)	(17)	(714,517)
		275,920	6	261,884
		22,519 28,918 (49,433) 16,822	1 1 (1) -	13,979 (46,137) (31,570) 64,357
		18,826	-	629
		294,746 (90,812)	7 (2)	262,513 (8,713)
		203,934	5	253,800
		$0.67		$0.81

Balance Sheet 2019/03/31

Unit: Thousand (NTD)

	ASSETS	2019.03.	31	2018.12.	31	2018.03	.31
		AMT	％	AMT	％	AMT	％
	CURRENT ASSETS Cash and cash equivalents Current financial assets at fair value through other comprehensive income Current financial assets at cost through other comprehensive amortization Notes receivable Notes receivable-related parties Account receivable Account receivable-related parties Other receivable Investments	$926,450 3,750 17,546 20,437 16,650 2,880,884 106,912 204,602 4,565,251	4 - - - - 12 1 1 19	$988,474 20,916 30,883 23,652 17,868 2,751,833 91,602 192,761 4,548,682	5 - - - 13 - 1 21	$881,587 614 15,523 27,400 31,396 2,624,937 79,370 242,537 4,126,313	4 - - - 13 - 1 20
	Other assets -current TOTAL CURRENT ASSETS NON CURRENT ASSETS Non current financial assets at fair value through other comprehensive income Investments accounted for using equity method Property, plant and equipment Right-of-use assets Intangible assets Deferred tax assets Prepayments for equipment Refundable deposit Long term for prepayment rant Non- current assets - other Total non- current assets TOTAL AEEETS	27,764 284,294 9,054,540 150,498 1,972,810 8,327,096	- 1 38 1 8 35 10 1 2 5 - - - 62 100	27,508 271,536 8,965,715 136,543 1,899,416 8,301,890 114,738 554,673 1,260,464 49,578 91,646 94,213 12,503,161 $21,468,876	- 1 41 1 - 9 39 1 3 6 - - 59 100	- 350,785 8,380,462 210,525 1,988,710 7,960,580 105,300 492,360 1,372,405 62,499 97,257 97,984 12,387,620 $20,768,082	- 2
							40
							1 10 39 1 2 7 - - -
		2,108,595
		109,247 490,381 1,263,476 48,990 - 94,490 14,565,583 $23,620,123
							60
							100

Balance Sheet 2019/03/31

Unit: Thousand (NTD)

	LIABILITIES AND EQUITY	2019.03.3	1	2018.12.3	1	2018.03.	31
		AMT	％	AMT	％	AMT	％
	CURRENT LIABILITIES Short-term debt Net short-term notes and bills payable Current financial liabilities at fair value through profit or loss Notes payable Accounts payable Accounts payable-related parties Other payables Current tax liabilities Current lease liabilities Current portion of long-term borrowings Other current liabilities Total short-term liabilities NON CURRENT LIABILITIES Long-term borrowings Other long-term borrowings	$1,525,767 1,349,404 49 320,346 2,311,372 562,990 837,646 25,657	7 6 - 1 10 2 4 - 1 1 2 34 22 7	$1,637,215 1,239,297 459 325,654 2,376,903 551,439 1,026,958 28,048 - 144,129 352,241 $7,682,343 4,986,679 1,698,369	8 6 - 2 11 2 5 - - 1 2 37 23 8	$1,897,170 628,368 15,660 389,848 2,377,230 524,008 492,876 79,543 - 88,328 399,409 $6,892,440 6,586,249 -	9 3 - 2 11 3 2 - - - 2
		181,343
		190,981 415,681 $7,721,236 5,143,406 1,696,109
							32
							32
	Deferred tax liabilities Non-current lease liabilities Deferred pension liabilities Non- current other current liabilities TOTAL NON CURRENT LIABILITIES TOTAL LIABILITIES Equity attributable to owners of parent Capital Capital Additional paid-in capital Retained earnings Legal reserve Special reserve Retained earnings-unappropriated Total retained earnings Other equity interest Cumulative translation adjustment Unrealized gain(losses) from financial assets measured at fair value through other comprehensive income Total equity interest Treasury stock Total equity attributable to owners of parent Non-controlling interests Total equity TOTAL EQUITY ATTRIUTABLE TO OWNERS OF PARENT	40,966	- 7 1 - 37 71 13 6 - 3 1 6 10 (1) - (1) - 28 1 29 100	49,617 378,678 56,137 7,169,480 14,851,823 3,128,979 1,378,734 651,587 151,835 1,279,329 2,082,751 (222,926) 62,176 (160,750) (5,996) 6,423,718 193,335 6,617,053 $21,468,876	- - 2 - 33 70 15 6 - 3 - 6 9 (1) - (1) - 29 1 30 100	40,068 - 380,855 48,362 7,055,534 13,947,974 3,128,979 1,377,231 585,581 59,081 1,569,494 2,214,156 (238,271) 125,536 (112,735) (5,996) 6,601,635 218,473 6,820,108 $20,768,082	- 2 -
		1,719,753
		331,186 67,190 8,998,610 16,719,846 3,128,979 1,378,734 651,587 151,835 1,489,255 2,292,677 (148,205) 63,932 (84,273) (5,996) 6,710,121 190,156 6,900,277 $23,620,123
							34
							66
							15 7 3 - 8
							11
							(1) 1
							- -
							33 1
							34
							100

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