YC — Investor Presentation 2018

Dec 27, 2018

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YC GROUP PROFILE 炎洲集團-2018法人說明會

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簡報大綱

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公司簡介 製造事業 房地產事業 流通事業 財務資訊 未來展望

公司簡介

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製造事業

房地產事業

流通事業 財務資訊

未來展望

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公司簡介

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_基本資料

創立時間：1978年 資本額：新台幣53.01億元 董事長：李志賢先生 全球員工：2556人 股票上市時間：2000年 (代號4306) 主要產品：膠帶、包材、薄膜、丙烯酸、建設

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公司簡介 _三大事業

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製造事業(炎洲/萬洲股份有限公司)
•
膠帶、薄膜
•
石化工業
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房地產事業(旺洲建設/悠逸旅館)
•
建設(旺洲建設)
•
旅館經營業(悠逸旅館)
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流通事業(新洲全球股份有限公司)
•
通路、平台
•
包裝材料
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公司簡介

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_三大事業體營業比重

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製造事業 流通事業 房地產事業

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10%
7%
83%
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製造事業

_佔集團營收83%

公司簡介

房地產事業 流通事業 財務資訊

未來展望

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製造事業 _主要營業項目

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OPP
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PVC
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雙面膠帶
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特殊膠帶
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特化產業
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製造事業

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_OPP膠帶

• 製造產能為 2.1億 平方米/月

• 市佔率8%，全球第二大。

• 廣泛應用於：

• 包裝膠帶

• 文具膠帶

• 保護膠帶

• 一般消費使用膠帶

• 其他應用膠帶

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製造事業

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_PVC膠帶

• 製造產能為 2,000萬 平方米/月

• 市佔率20%，全球第二大。

• 廣泛應用於：

• 電氣及線束膠帶

• 管路及絕緣膠帶

• 保護膠帶

• 汽車應用膠帶

• 一般消費使用膠帶

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製造事業

_PE膠帶

• 製造產能為 5百萬 平方米/月

• 廣泛應用於：

• 不銹鋼/鋁板保護

• 預塗/烤漆板保護

• 塑料/裝飾/貼皮板保護

• 室內使用/室外專用

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製造事業

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_雙面膠帶

• 製造產能為 3百萬 平方米/月

• 廣泛應用於：

• 汽車應用膠帶

• 一般消費者使用膠帶

• 各種工業之固定貼合膠帶

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製造事業

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_薄膜製造

• 製造產能為 6,500頓/月

• 廣泛應用於：

• 印刷，貼合，膠帶，製袋

• 離型，標籤

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製造事業

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_特化產業

•  營業項目

IC/光電產業用高純度化學溶劑生產與代工 IC/光電產業製程溶劑回收再利用 IC/光電產業用化學品容器潔淨處理

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製造事業

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_丙烯酸

• 製造產能為 80,000頓/年

• 廣泛應用於：

• AA/BA/GAA

• 有機合成原料，其聚合物可用於 合成樹脂、合成纖维、高吸水性 樹脂、建材、塗料等用途。

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製造事業 _競爭優勢

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製造整合
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研發及技術
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產品自動化
開發製程
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製造事業

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_競爭優勢_製造整合

產品垂直整合，降低營運成本

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AA
原 BA 石化原料
GAA
料 上
生 游
Rubber,
產 PE, PVC, BOPP film
Acrylic , Hot melts
膠 PE, PVC, BOPP, Double sided ,
帶 中 Masking 等各類膠帶
游
製
造
銷 加 台灣.中國.世界各地銷售地區之布點及通路
售 工 下
通 分
游
路 銷
品 中
牌 心
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製造事業

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_營收比重

2018/11/30 營收比重

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8%
18% 39% OPP
PVC
薄膜
15%
丙烯酸
20%
其他
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製造事業

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_全球夥伴

集團多年堅信四 大理念，以人為 本的精神，得到 了全球夥伴的認 可與表揚。

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Vanguard International
Semiconductor Corporation
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製造事業

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_膠帶生產據點與產品

		PVC 產品	OPP 產品	D/S 產品
位 置		PVC 膠帶產能	OPP 膠帶產能	D/S 膠帶產能
			Solvent Acrylic OPP 35 Million M2/Month Hotmelt OPP 14 Million M2/Month
	楊梅
		7.6 Million M2/Month		1.5 Million M2/Month
台灣
	彰化		Emulsion Acrylic OPP 45 Million M2/Month	Emulsion Acrylic D/S 0.24 Million M2/Month
		-
		7 Million M2/Month
	東莞
			-	-
			Emulsion Acrylic OPP 35 Million M2/Month
				-
	寧波
		-
中國
	海安	6 Million M2/Month	-	0.8 Million M2/Month
			Emulsion Acrylic OPP 65 Million M2/Month
	佛山
		-		1.0 Million M2/Month
越南	胡志明市		Emulsion Acrylic OPP 10 Million M2/Month

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製造事業

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_全球布局-台灣

楊梅廠-成立於1983年

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土地面積125,490平方米 廠房面積75,377平方米

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彰化廠區-成立於1991年 土地面積88,780平方米 廠房面積60,829平方米

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製造事業

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_全球布局-中國大陸

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佛山億達廠-成立於1991年 渭南廠-成立於1994年 東莞長安-成立於2001年 寧波廠-成立於2002年 南通廠-成立於2012年 海安廠-成立於2014年

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製造事業

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_全球布局-美國

集團致力於美國全區服務的提升，並滿足 客戶的包裝需求，設有3個發貨點。

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Los Angeles, CA
美洲區總部
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Chicago, IL
中西部服務中心
Charlotte, NC
東岸服務中心
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公司簡介

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房地產事業

_佔集團營收10%

製造事業 流通事業 財務資訊

未來展望

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房地產事業

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_旺洲建設

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推出旺洲極品與旺洲
2013 2017 旺洲極品開始交屋
More兩大建案。
2015 於內湖科技園區打造
集團總部大樓。
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2005
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2008 推出城市之洲
投資成立旺洲開發正
式跨入房地產並推出
藝術台北。
2006 推出世界之洲 2010 推出峰華苑與旺
洲雲品兩大建案。
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房地產事業

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_悠逸旅館

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悠逸商旅開
幕。
2016
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跨足旅館業，成立林口悠逸休閒旅館。

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2008 2016
2015 悠逸行旅開幕。
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公司簡介

製造事業

流通事業 _佔集團營收7%

房地產事業 財務資訊 未來展望

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流通事業

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_銷售產品

類別	細項	產品別
工業應用	工業應用	如黏著、導熱、封裝防潮絕緣、耐溫吸震等
	紙類包材	各式護角紙、包裝、彩盒、紙箱等
	塑膠系列	BOPP珍珠薄膜、BOPP熱封膜、紅白塑膠繩、夾鏈袋等
	緩衝包材	氣泡布、PP瓦楞板、乖乖粒等
	包裝機械	打包機、封口機、膠帶台等
	膠帶系列	BOPP包裝膠帶、雙面膠帶、PVC膠帶、特殊材質等
生活應用	生活用品	衣物去漬系列、家庭清潔系列等
	其他應用	PP打包帶、乾燥劑、魔鬼氈、各類手套等
特殊應用	客製化	站立袋、水果袋、醫療袋、工業袋等

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流通事業 _主要產品及客戶

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產品別 主要客戶 產品
電子產業
台灣 保護膜、各類膠帶等包裝材料
食品業
電子產業
大陸 各類膠帶、包裝產品、保護膜
光電產業
＊台灣實質有效交易客戶達10,000多家,客群分散穩定
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• ＊大陸區以中大型經銷商及目標產業之大生產製造商為主

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流通事業

_競爭優勢

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多樣產品
上下游 客製化
整合 服務
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財務資訊

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公司簡介

製造事業 房地產事業 流通事業 未來展望

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財務資訊

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_歷年營業概況

單位：新台幣仟元	單位：新台幣仟元	單位：新台幣仟元	單位：新台幣仟元
項目	2016年	2017年	2018年Q3
合併營收	18,769,079	18,978,213	15,161,015
毛利率	13%	13%	12%
稅後損益	(100,332)	588,778	353,337
EPS	(0.22)	1.3	0.72

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財務資訊

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_歷年股利政策

	2014年	2015年	2016年	2017年
現金股利	0.25	0.5	0.3	0.59
股票股利	0	-	-	-
合計	0.25	0.5	0.3	0.59

未來展望

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公司簡介

製造事業 房地產事業 流通事業 財務資訊

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未來展望

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_製造事業

OPP

• 針對產品、產 能進行修枝剪 葉，汰舊換新 以提高效率。

• • 因應中美貿易 戰，調整集團 生產出貨地， 以避免高關 稅。

PVC

• 透過線束膠帶 打入國際大型 汽車廠。

• 加強推廣環保 水性PVC產 品。

• 石化工業

• • 改變產銷方式 以改善營運效 率。

• • 保持正常生產 及全產全銷策 略以減少虧 損。

• 特用化學

• • 因應大陸需 求，研議將與 代工廠商共用 投資大陸設 廠。

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未來展望

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_房地產事業&流通事業

旺洲建設

• 旺洲極品至今年第三季已認列101戶，營收約25.79 億，剩餘64戶，將於明年持續出售認列。

• 新莊二期及林口二期於明年下半年開始進行。

新洲全球

• 大陸地區今年已轉虧為盈，預計明年仍能穩定成長。

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未來展望

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_財務方面

積極進行修枝剪葉策略以改善財務結構：

處分低效率生產設備：OPP寧波薄膜線。 關閉營運不佳據點：陝西合亞達廠、天津分公司。

• *處分閒置資產：上海廠。

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