WEC — Annual Report 2016

Feb 7, 2017

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Winbond Electronics Corporation

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免責聲明

• We have made forward-looking statements in this presentation. Our forward-looking statements contain information regarding, among other things, our financial condition, future expansion plans and business strategies. We have based these forwardlooking statements on our current expectations and projections about future events. Although we believe that these expectations and projections are reasonable, such forward-looking statements are inherently subject to risks, uncertainties and assumptions about us.

• We undertake no obligation to publicly update or revise any forward-looking statements whether as a result of new information, future events or otherwise. In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this conference might not occur and our actual results could differ materially from those anticipated in these forward-looking statements.

• The information contained herein shall also not constitute an offer to sell or a solicitation of an offer to buy the company’s securities nor shall there be any sale of such securities in any state or country in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or country.

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財務報告

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2H16 綜合損益表- 合併

單位：新台幣百萬元 營業收入 營業毛利 營業利益 稅前淨利 本期淨利 每股(損)益(元) 息前稅前折舊與攤 銷前利益	2H’16 1H’16 2016 2015 YoY 金額 % 金額 % 金額 % 金額 % 金額 % 21,508 100 20,584 100 42,092 100 38,350 100 3,742 10 6,015 28 6,003 29 12,018 29 11,822 31 196 2 1,820 8 1,893 9 3,713 9 4,109 11 (396) (10) 1,867 9 1,888 9 3,755 9 4,248 11 (493) (12) 1,588 7 1,552 8 3,140 7 3,473 9 (333) (10) 0.41 0.40 0.81 0.90 4,610 21 4,773 23 9,383 22 9,966 26 (583) (6)

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2H16 資產負債表- 合併

單位：新台幣百萬元 流動資產 固定資產淨額 資產總計 長期借款 股東權益 流動比率 負債/ 權益比	Dec. 31 ’16 Jun. 30 ’16 Dec. 31 ’15 YoY 金額 % 金額 % 金額 % 金額 % 27,260 40 26,409 42 24,713 39 2,547 10 34,373 51 30,608 49 31,915 51 2,458 8 67,989 100 63,053 100 62,598 100 5,391 9 6,638 10 7,866 12 8,755 14 (2,117) (24) 45,221 67 41,994 67 40,099 64 5,122 13 1.87 2.25 2.00 0.50 0.50 0.56

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2H16 現金流量表- 合併

單位：新台幣百萬元 營運活動現金流量 投資活動現金流量 融資活動現金流量 現金與約當現金 折舊與攤銷 資本支出	2H’16 1H’16 2016 2015 YoY 金額 金額 金額 金額 金額 5,769 4,222 9,991 7,659 2,332 (3,045) (1,702) (4,747) (4,431) (316) (2,313) (1,593) (3,906) (3,861) (45) 7,684 7,325 7,684 6,397 1,287 2,791 2,880 5,671 5,857 (186) (3,418) (1,571) (4,989) (4,094) (895)

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- 2H16 綜合損益表 記憶體

單位：新台幣百萬元 營業收入 營業毛利 營業利益 稅前淨利 本期淨利 每股(損)益(元) 息前稅前折舊與攤 銷前利益	2H’16	2H’16	1H’16	1H’16	2016	2016	2015	2015	YoY	YoY
	金額	%	金額	%	金額	%	金額	%	金額	%

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- 2H16 資產負債表 記憶體

單位：新台幣百萬元 流動資產 固定資產淨額 資產總計 長期借款 股東權益 流動比率 負債/ 權益比	Dec. 31 ’16 Jun. 30 ’16 Dec. 31 ’15 YoY 金額 % 金額 % 金額 % 金額 % 21,270 33 20,630 35 19,345 33 1,925 10 33,608 52 29,910 50 31,195 53 2,413 8 64,399 100 59,534 100 59,496 100 4,903 8 6,638 10 7,866 13 8,755 15 (2,117) (24) 43,921 68 40,785 69 38,902 65 5,019 13 1.67 2.09 1.78 0.47 0.46 0.53

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2H16 現金流量表- 記憶體

單位：新台幣百萬元 營運活動現金流量 投資活動現金流量 融資活動現金流量 現金與約當現金 折舊與攤銷 資本支出	2H’16 1H’16 2016 2015 YoY 金額 金額 金額 金額 金額 5,680 3,658 9,338 7,418 1,920 (2,832) (1,517) (4,349) (4,159) (190) (2,163) (1,586) (3,749) (3,770) 21 4,874 4,190 4,874 3,635 1,239 2,659 2,753 5,412 5,611 (199) (3,284) (1,513) (4,797) (3,908) (889)

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營收與毛利- 合併

營收(新台幣十億元)

毛利率

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35%
24 32%
30% 30%
29%
28%
27% 30%
20
22% 25%
16 20%
20%
12 22
21 15%
19
19
18
8 19
10%
17
17
4 5%
0%
0
1H'13 2H'13 1H'14 2H'14 1H'15 2H'15 1H'16 2H'16
Revenue營收 Gross Profit毛利 GM%毛利率
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營收與毛利- 記憶體

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營收(新台幣十億元) 毛利率
18
16 35%
29%
14 30%
26%
26% 25%
23% 24%
12
25%
10
16% 20%
17
16
8 14% 16
16
15 15%
15
6
13
13
10%
4
5%
2
0 0%
1H'13 2H'13 1H'14 2H'14 1H'15 2H'15 1H'16 2H'16
Revenue營收 Gross Profit毛利 GM%毛利率
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2016 年記憶體資本支出

(新台幣十億元)

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20.0
16.6
13.0
15.0
10.0
4.8
3.9
3.0
5.0 2.1
0.0
2012 2013 2014 2015 2016 2017 (E)
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現金基礎資本支出，截至02/07/2017

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營運回顧與展望

	Y2016 vs Y2015 NT$B Y2016 Y2015 YoY 利基型記憶體 16.6 16.2 3% 行動記憶體 4.6 3.6 30% 快閃記憶體 12.3 11.1 11% 總營收 33.5 30.8 9% 總稅後淨利 2.9 3.3 (12%)

• 營收穩定成長來自於持續優化產品與客戶組合

• 淨利因研發費用增加而略幅減少

• 平均價格下跌影響毛利率，但Q4起價格回穩

• 車用及工規應用領域顯著成長

• 行動記憶體因打入國際級客戶手持裝置應用而業績成長

• NOR Flash業績穩定且SLC NAND記憶體業務持續擴張

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年度記憶體營收分析- 依應用面

車用及工業應用面營收持續成長

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2015
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車用及工業用

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2016
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車用及工業用

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近年淨利趨勢

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驅動穩定成長的要素

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穩定
獲利
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服務每個市場領域的國 際級客戶

掌握市場脈動趨勢

差異化的核心競爭力

高品質

多樣 多元 高效能 產品組合 技術平台 工廠

符合各種應用需求的產品組合

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• 先進的駕駛輔 助系統

• 汽車儀表板

• 資訊娛樂系統

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• 人機介面

• 智慧電表

• 工業聯網

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• 智慧型手機

• xDSL & PON

• 網路交換機

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• 穿戴裝置

• 智慧家電

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• 電腦

• 電視

  • 電腦周邊

• 機上盒 電腦周邊 • 雲端運算(伺服 器/資料中心)

• 資料來源：華邦電子官方網站

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2H16 記憶體營收分析- 依應用面

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車用及工業用
通訊電子
19%
31%
消費性電子
24% 電腦
26%
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車用及工業用 消費性電子 電腦 通訊電子 - HoH +29% HoH +2% HoH +7% HoH 7% - YoY +33% YoY +10% YoY 0% YoY +7% 新台幣百萬元 新台幣百萬元 新台幣百萬元

新台幣百萬元

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5,500
5,000
4,500
4,000
3,500
3,000
2,500
2,000
2015H2 2016H2
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3,500 4,500
3,000 4,000
2,500 3,500
2,000 3,000
1,500 2,500
1,000 2,000
500 1,500
0 1,000
2015H2 2016H2 2015H2 2016H2
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4,500
4,000
3,500
3,000
2,500
2,000
1,500
1,000
2015H2 2016H2
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2H16 記憶體營收分析

0.0 2.0 4.0 6.0 8.0 10.0 12.0 14.0 16.0 18.0 1H'13 2H'13 1H'14 2H'14 1H'15 2H'15 1H'16 2H'16 13% 11% 12% 11% 12% 11% 13% 14% 45% 50% 52% 54% 52% 53% 51% 48% 42% 40% 36% 35% 35% 37% 36% 38% 營收(新台幣十億元)	Flash HoH YoY +9% +13% 快閃記憶體
	Specialty -1% +1% 利基型記憶體
	Mobile +11% +47% 行動記憶體

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2H16 各製程記憶體營收分析

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利基型記憶體
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行動記憶體
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快閃記憶體
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100%			100%
80%			80%
					67%			72%
60%	90%	92%	60%
40%			40%
20%			20%		31%			28%
0%	10%	8%	0%		2%
	2016H1	2016H2			2016H1		2016H2
	65nm	46nm			90nm	65nm		46nm

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Mobile DRAM
100% 11% 13%
80%
53% 52%
60%
40%
20% 36% 35%
0%
2016H1 2016H2
90nm 58nm 46nm
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 2017年

 2018年

 3x nm DRAM 產品將於2017第三季 量產

 2x nm DRAM 將於2018年上半年開始送樣  3x nm SLC NAND 將於2018年上半年開始 送樣

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2017年華邦營運展望

• 因產能限制，營收成長空間受限

• 新廠房產能將在2017年第四季開始貢獻營收

• 持續優化產品及客戶組合，提升毛利率

• 聚焦於車用、工規、物聯網、行動裝置及良品裸晶

• 自行研發的3xnm DRAM製程將於2017年下半年進入量產

• 充分的資本支出，用以擴充產能及先進製程

• 增加研發費用於先進製程及新產品