WISHER — Investor Presentation 2017

Sep 1, 2017

Stock Code: 1465

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Disclaimer

This presentation contains forward-looking statements concerning the financial condition, results of operations and businesses of WISHER Corporation (the "Company"). All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forwardlooking statements are statements of future expectations that are based on management’s current expectations, assumptions, involve known, unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. All forward-looking statements contained in this document are expressly qualified in their entirety by the cautionary statements contained or referred to herein. Readers should not place undue reliance on forward-looking statements. Each forward-looking statement speaks only as of the date of this presentation. Neither the Company nor any of its subsidiaries undertake any obligation to publicly update or revise any forward-looking statement as a result of new information, future events or other information. In light of these risks, results could differ materially from those stated, implied or inferred from the forward-looking statements contained in this presentation.

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Agenda

● Company Profile

● Overview of the Joint Venture in China

● Business Update

● Q&A

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Company Profile

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Company Introduction

Industry association chart

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Spinning of Yarn
Spinning of Textured Yarn, Man-made Fibers
Weaving of Textiles Manufacture of Woven Fabrics of Man-made Fibers
Manufacture of knitted and Crocheted Fabrics
Finishing of Textiles
Manufacture of Textiles
Fabric Mills
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資料來源：經濟部工業局產業電子化網頁(2007.8)。

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Company Introduction

Est. Date	11 / 1972
Listing Date	09 / 1997
Headquarters	7th FL.,62-5 HsiningN. Rd. Taipei,Taiwan,R. O. C.
Production Base	1.LUZHU FACTORY 2.HSINCHU FACTORY
Capital	NT$1,036,072,670
Chairman	CHEN,CHIAN-CHUN
Main Products	PRODUCTS: 1.Polyester Textured Yarn 2. PolyesterWoven Fabrics 3.Knitted Fabrics

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Company Introduction

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Main product important use	Main product important use	Main product important use
Product item	Feature Description	Main application
HighSpandexpolyesterextured yarn	High elasticity stretch, soft and comfortable	Functional men and women suits pants and women with materials
Specialpolyestertextured yarn	Imitation Ma, imitation wool, imitation silk, particles, knot yarn	High-grade woven fabrics and industrial fabrics
Borer yarn, fat thin yarn	With natural appearance, dry and comfortable	Knitted fabrics, casual wear, sportswear and women
PolyesterWoven Fabrics	Very real, rich changes, good vertical, easy to wash, quick-drying, non-iron	Men and women suits pants, windbreaker, jackets, purses, suitcases, curtains and tablecloths and so on
HighpandexPolyesterWovenFabrics	High flexibility, soft and comfortable	Senior men and women clothing and leisure sports apparel
Long and short fiber woven cloth	Soft, drape feel good	Senior men and women suits, ladies and lined casual clothes
General knitted fabric	With a soft feelpendulous	General male and female
HighSpandexknitted fabric	High flexibility, flexibility, softness and comfort	Casual wear, sportswear

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Production Base1 ： LUZHU FACTORY

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• Address ： NO.367,XINXING ST.,LUZHU DIST.,TAOYUAN CITY 33862,TAIWAN(R.O.C)

• Land:15,161M[2]

• Main Products ： Polyester long fiber woven fabric

• Number of machines ： 160 units Capacity ： 22.71 million yard / year

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Production Base2 ： HSINCHU FACTORY

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• Address ： NO.106,XINHE RD.,XINFENG TOWNSHIP,HSINCHU COUNTY 30472, TAIWAN(R.O.C)

• Land: 18,950M[2 ]

• Main Products ： Draw Textured Yarn

• Number of machines ： 16 units

• Capacity ： 4.5 million kg/year

• Main Products ： Polyester long fiber

• woven fabric

• Number of machines ： 120 units

• Capacity ： 17.42million yard/year

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Individual Revenue Analysis

knitted Fabrics 針織布 2016 year 1% 聚酯加工絲 POLYESTER 23% TEXTURED YARN PolyesterWoven 聚酯長纖梭織 Fabrics 布 76%

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Individual Revenue by Areas

2016 year PolyesterWoven Fabrics

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other areas
其他
1% Taiwan 台灣
Asia
亞洲
14%
Europe 歐洲 36%
11%
America 美洲
38%
非洲 Africa
0%
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Overview of the Joint Venture in China

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Investment Structure

CHINA DRAGON TEXTILE INDUSTRIAL CO.,LTD.

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立 廣
達 得
100%
國 48% 實
際 業 100%
股 股
偉全實業股份有限公司
份 份
有 有 100%
WISHER INTERNATIONAL CO., LTD. 限 其他 限
公 非控 公
制方
司 司
52%
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盛龍紡織(惠州)有限公司

100% 偉全化纖(惠州)有限公司

WISDOM INDUSTRIAL CO.,LTD.

NONCONTROLLING INTERESTS

LEADER INTERNATIONAL CO., LTD.(SAMOA)

GRAND HOLDINGS CO., LTD.(CAYMAN)

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Joint Venture in China

CHINA DRAGON TEXTILE INDUSTRIAL CO.,LTD.

WISDOM INDUSTRIAL CO.,LTD.

China

NO.887 WAHSING INDUSTRIAL ZONE,LONGHUA TOWN,BOLO COUNTY,HUIZHOU CITY,GUANGDONG,P.R.CHINA Land:95,000 M[2]

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HUIZHOU
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NO.886 WAHSING INDUSTRIAL ZONE,LONGHUA TOWN,BOLO COUNTY,HUIZHOU CITY,GUANGDONG,P.R.CHINA Land:98,000 M[2]

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CHINA DRAGON TEXTILE INDUSTRIAL CO.,LTD.

Industry association chart

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Spinning of Yarn
Spinning of Textured Yarn, Man-made Fibers
Weaving of Textiles Manufacture of Woven Fabrics of Man-made Fibers
Manufacture of knitted and Crocheted Fabrics
Finishing of Textiles
Manufacture of Textiles
Fabric Mills
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資料來源：經濟部工業局產業電子化網頁(2007.8)。

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CHINA DRAGON TEXTILE INDUSTRIAL CO.,LTD.

Est. Date	1998.01.23
Capital	USD$8,750,000
Shareholding	48%
Main business lines	Finishing of Textiles
Main Products	1.Nylon fabric 2. Polyester fabric
Capacity	10million yard/m

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CHINA DRAGON TEXTILE INDUSTRIAL CO.,LTD.

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Main product important use

、 1 Umbrella cloth series

、 2 Lu a e shoes with cloth series gg g 、 3 Tire industrial cloth series 、 4 Clothing fabric with cloth series 、 5 Bab car with cloth series y 、 6 Dail ornaments cloth series y

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WISDOM INDUSTRIAL CO.,LTD.

Industry association chart

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Spinning of Yarn
Spinning of Textured Yarn, Man-made Fibers
Weaving of Textiles Manufacture of Woven Fabrics of Man-made Fibers
Manufacture of knitted and Crocheted Fabrics
Finishing of Textiles
Manufacture of Textiles
Fabric Mills
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資料來源：經濟部工業局產業電子化網頁(2007.8)。

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WISDOM INDUSTRIAL CO.,LTD.

Est. Date	2002.03.12
Capital	USD$8,750,000
Shareholding	48%
Main business lines	Manufacture of Woven Fabrics of Man-made Fibers
Main Products	1.Nylon fabric 2. Polyester fabric
Capacity	64million yard/Y

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WISDOM INDUSTRIAL CO.,LTD.

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Main product important use

、 1 Umbrella cloth series

、 2 Lu a e shoes with cloth series gg g

、 3 Tire industrial cloth series

、 4 Clothing fabric with cloth series

、 5 Bab car with cloth series y

、 6 Dail ornaments cloth series y

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Consolidated Revenue Analysis

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WISDOM INDUSTRIAL
CO.,LTD.
偉全化纖
12%
盛龍紡織
CHINA DRAGON
TEXTILE 54% 偉全實業
INDUSTRIAL WISHER
34%
CO.,LTD. INTERNATIONAL
CO., LTD.
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Consolidated Revenue by Areas

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other
Europe 歐洲 其他 台灣
area s Taiwan
America 4% 0% 5%
美洲
13%
非洲
0%
Africa
亞洲
78%
Asia
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Business Update

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Sales Revenue in the Past Six Years

Unit：NT$ million

Sales Revenue

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3,500
3,000
2,500
2,000
營收 Sales Revenue
1,500
1,000
500
0
2011 2012 2013 2014 2015 2016
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Dividend Policy

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2
1.8 EPS
1.6
1.4
1.2
Cash Dividend
1
0.8
0.6
0.4
Stock Dividend
0.2
0
2011
2012
2013
2014
2015
2016
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Note: IFRS adoption from 2013

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Consolidated Statement of Comprehensive Income

Unit ： NT$ million

			Unit：NT$ million
Accounting Title	For the Six Months Ended June 30 Diff. 2017 2016 (%)		Full year Diff. 2016 2015 (%)
Net revenus Gross profit	922 934 (1.3) 109 155 (29.7)		1,955 2,305
Profit Margin	11.8% 16.6%	(4.7)	16.7% 14.3% 2.4
Operating profit	8 46 (82.6)		96 94 2.1
Operating Profit Margin	0.9% 4.9% (4.0)		4.9% 4.1% 0.8
Non-operating gains & losses Income before tax Net income	22 3		28 56
Net Profit Margin	3.47% 5.1% (1.7)		6.0% 5.9% 0.2
NET INCOME (LOSS) ATTRIBUTABLE TO:Shareholders of the parent	22 27 (18.5)		74 103 (28.2)
Basic EPS(NT$)	0.21 0.26 (19.2)		0.72 1.00 (28.0)

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Quarterly Consolidated Income Statement

Unit：NT$ million

Accounting Title 2017Q2 %	2017Q1 %	2016Q4 % 2016Q3 % 2016Q2 %
Net revenus 485 100	437 100	489 100 532 100 495 100
Gross profit 46 9 Operating profit (7) (2) Non-operating gains & losses 42 9 Income before tax 35 7	63 14 15 3 (20) (5) (5) (2)	87 18 86 16 72 14 25 5 25 5 14 3 34 7 (9) (2) 9 2 59 12 16 3 23 5
Net income 32 7	0 0	53 11 17 3 22 5
NET INCOME (LOSS) ATTRIBUTABLE TO:Shareholders of the parent 31	(9)	40 7 12
Basic EPS (NT$) 0.30	(0.09)	0.38 0.07 0.12

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Quarterly Consolidated Balance Sheet

~~Unit：NT$ million~~

	2017 2016	2017 2016	2017 2016	2017 2016	2017 2016
AccountingTitle	6/30 %	3/31 %	12/31 %	9/30 %	6/30 %
Current Assets Non-Current Assets	1,830 73 668 27	1,814 72 693 28	1,84672 71828	1,870 72 733 28	1,955 72 757 28
Total Assets	2,498 100	2,507100	2,564100	2,603100	2,712100
Current Liabilities Non-Current Liabilities	325 13 32 1	323 13 30 1	29912 42 1	356 14 39 1	302 11 46 2
Total Liabilities	357 14	353 14	34113	395 15	348 13
Ordinary Share Capital Surplus Retained Earnings Other Equity Interest	1,036 41 353 14 365 15 (41) (1)	1,036 41 353 14 334 14 (21) (1)	1,03640 35314 34414 27 1	1,036 40 353 14 304 11 21 1	1,036 38 353 13 390 14 48 2
Equity attributable to shareholders of the parent	1713 69	1,703 68	1,76069	1,715 66	1,827 67
NONCONTROLLING INTERESTS	428 17	451 18	46418	493 19	536 20
Total Equity	2,141 86	2,154 86	2,22487	2,208 85	2,363 87
Book Value Per Share	16.54	16.44	16.99	16.55	17.64

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Q&A

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