YNM — Interim / Quarterly Report 2018

May 29, 2018

(2227:TT)

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Yulon Nissan Motor Co., Ltd.

May. 29th, 2018

All right reserved by Yulon Nissan Motor Co., Ltd. Do not use without any permission.

Confidentiality classification : Unclassified

Safe Harbor Notice

1. This document is provided by Yulon-Nissan Co., Ltd. (the "Company"). Except for the numbers and information included in the Company's financial statements, the information contained in this document has not been audited or reviewed by any accountant or independent expert. The Company makes no express or implied representations or warranties as to the fairness, accuracy, completeness, or correctness of such information or opinions. This document is provided as of the date herein and will not be updated to reflect any changes hereafter. The Company, its affiliates and their representatives do not accept any responsibility or liability for any damage caused by their negligence or any other reasons, nor do they accept responsibility or liability for any loss or damages arising from the use of this document or the information contained herein or anything related to this document.

2. This document may contain future prospection statements, including but not limited to all statements that address activities, events or developments that the Company expects or anticipates to take place in the future based on the projections of the Company toward the future, and various factors and uncertainness beyond the Company's control. Therefore, the actual results may differ materially from those contained in the forward-looking statements.

3. This document is not and cannot be construed as an offer to purchase or sell securities or other financial instruments or solicitation of an offer.

4. The copy right of this document belongs to the company and its affiliates. This document may not be directly or indirectly reproduced, redistributed or forwarded to any other person and may not be published in whole or in part for any purpose.

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P2 All right reserved by Yulon Nissan Motor Co., Ltd. Do not use without any permission. Confidentiality classification : Unclassified
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AGENDA

1 Company Profile 2 Operation Briefing 3 Core Strategy 4 Cross-strait Market Forecast

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1

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Yulon-Nissan Motor profile

• ：

• Company name Yulon-Nissan Motor Co., Ltd.

• Establishment date：Oct. 22[nd] , 2003

• Chairman：Kenneth, K.T. Yen

• President：Leman, C.C. Lee

• Capital：3 billion NTD

• Employee Number：431 (2018/04)

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Others
Nissan Motor
Yulon Motor
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• Shareholder structure：

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營運範疇

Operation Scope

創新‧ 速度‧ 團隊

1. Full value chain operation of Nissan and Infiniti brand in Taiwan excluding manufacturing process

2. Joint cooperation with DongFeng Motor for PRC market development

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Full value chain operation of
Domestic Business Nissan and Infiniti brand in Taiwan
excluding manufacturing process
40%
廣州風神汽車有限公司 (Plant)
Overseas Investment （annual capacity 1250K units）
16.55%
風神襄陽汽車有限公司 (Plant)
（annual capacity 250K units）
義展海外投資 33.12%
股份有限公司 風神汽車有限公司 (Sales Co.)
45%
深圳聯友科技有限公司（IT）
義華大陸投資
股份有限公司 49% 東風裕隆舊車置換有限公司
(Used Car）
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Corporate Vision

Become the benchmark company of “Product Innovation” & “Service Innovation” in the Cross-strait Auto Industry

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INFINITI- Imported Luxury Models

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Q30

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Q50

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Q60
Q70
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QX30

QX50

QX60

QX70

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NISSAN- Imported Models

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JUKE

370 Z

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GT-R
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NISSAN- Domestic Models

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SENTRA
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SENTRA
X-TRAIL
ALL NEW LIVINA
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TIIDA
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NEW MARCH
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ALL NEW TEANA

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--

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INFINITI Q30 都會跑旅．豪華掀背
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INFINITI The Newest Marketing Program QX30

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NISSAN -- X-TRAIL

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NISSAN -- SENTRA

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NISSAN -- MARCH

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NISSAN-The Newest Marketing Program

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NISSAN-The Newest Marketing Program

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NISSAN-The Newest Service Program

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NISSAN-The Newest Service Program

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詳情請見NISSAN官網
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NISSAN-The Newest Service Program

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紅利點數兌換

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Consolidated Statements of Comprehensive Income

Currency:K$NTD

	2013	2013	2014	2014	2016	2016	2017	2017	2018Q1	2018Q1
Net Sales	31,486,050	100.0%	33,176,837	100.0%	34,860,446	100.0%	33,221,774	100.0%	8,358,448	100.0%
Gross Profit	5,448,850	17.3%	4,321,661	13.0%	5,061,230	14.5%	6,183,770	18.6%	1,661,383	19.9%
Operating Expenses	3,616,656	11.5%	3,536,563	10.7%	3,859,193	11.1%	4,108,082	12.4%	1,232,519	14.7%
Operating Income	1,832,179	5.8%	786,229	2.4%	1,202,037	3.4%	2,075,688	6.2%	428,864	5.1%
Income before Taxes	8,806,890	28.0%	8,026,677	24.2%	5,586,104	16.0%	8,003,421	24.1%	1,701,427	20.4%
Tax Expenses	1,506,893	4.8%	1,502,918	4.5%	955,489	2.7%	1,360,921	4.1%	590,400	7.1%
Income after Taxes	7,299,997	23.2%	6,523,759	19.7%	4,630,615	13.3%	6,642,500	20.0%	1,111,027	13.3%
Earings Per Share	24.33	─	21.75	─	15.44	─	22.14	─	3.70	─
Cash Dividend (NTD)	19.47	─	30.00	─	22	─	21.0	─	─	─
Dividend Paid Out Ratio	80.0%	─	137.9%	─	142.5%	─	94.8%	─	─	─

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P22 All right reserved by Yulon Nissan Motor Co., Ltd. Do not use without any permission. Confidentiality classification : Unclassified
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Consolidated Balance Sheets

Consolidated Balance Sheets	Consolidated Balance Sheets	Consolidated Balance Sheets	Consolidated Balance Sheets	Consolidated Balance Sheets	Consolidated Balance Sheets	Consolidated Balance Sheets
Currency:K$NTD
	2012	2013	2014	2016	2017	2018Q1
Current Assets	14,954,714	18,135,802	16,262,960	12,843,955	8,783,713	9,023,783
Fund and Investmemt (Long-term Equity)	10,379,966	14,989,267	17,734,336	14,659,211	15,251,359	16,765,467
Property, Plant and Equipment	37,182	39,962	42,387	94,878	92,768	85,160
Other Assets	1,958,517	2,153,934	2,466,864	2,141,704	1,648,947	1,693,856
Total Assets	27,330,379	35,318,965	36,506,547	29,739,748	25,776,787	27,568,266
Current Liabilities	3,150,089	5,172,523	6,369,203	6,310,765	2,545,626	2,491,469
Other Liabilities	3,564,997	5,105,965	3,206,832	1,874,640	2,036,537	2,526,115
Total Liabilities	6,715,086	10,278,488	9,576,035	8,185,405	4,582,163	5,017,584
Capital Stock	3,000,000	3,000,000	3,000,000	3,000,000	3,000,000	3,000,000
Capital Surplus	6,129,405	6,129,405	6,129,405	6,129,405	6,129,405	6,129,405
Retained Earnings	12,389,954	15,700,634	16,384,208	12,387,086	12,440,237	13,559,312
Other Adjustments	-904,066	210,438	1,416,899	37,852	-375,018	-138,035
Total Shareholders' Equity	20,615,293	25,040,477	26,930,512	21,554,343	21,194,624	22,550,682
Book Value / Share	68.7	83.5	89.8	71.8	70.6	75.2

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MTP Strategic Framework

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P25 All right reserved by Yulon Nissan Motor Co., Ltd. Do not use without any permission. Confidentiality classification : Unclassified
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Strengthening Service Competitiveness

NISSAN Care APP

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NREDI 2.1
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愛車資訊 行車幫手
準時定保時間 中油油價
抵用券 國道路況
延長保固狀態 查詢
越修越便宜 儀表燈對照
圖資更新 呼叫道路救援
保修記錄
修改車主資料 我的紅利
提供車主專屬紅利精
品展示、查詢累積紅
愛車服務 利點數
服務活動相關說明
準時定保/越修越便宜…
預約保修
服務據點 即時預約選取時段、
服務廠、接待與技師
最新消息
車主快訊/品牌快訊 保修進度查詢
圖資更新/召修訊息 進 度/預計交車時間
首頁
收件匣 更多
活動訊息/個人訊息 中獎名單/設定/相關網路平台服務專線/意見反應
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INFINITI APP
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IREDI
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NISSAN Showroom

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INFINITI Showroom

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客休室 活力餐點
商務區 獨立包廂
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P26 All right reserved by Yulon Nissan Motor Co., Ltd. Do not use without any permission. Confidentiality classification : Confidential
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Intelligent Driving

Intelligent Power

Intelligent Integration

零碰撞 主要包含兩大類功能

• 行車安全科技

• 自動駕駛

功能舉例：

零排放

• HEV 系統 油電混和系統，透過動能和電能轉 換減少排碳

• EV 系統 e-Power 發展純電之電動車，更有效抑制碳 排放

整合

• MID 行車資訊整合 汽車行駛狀況即時回報 )

• CAR PLAY 汽車手機互聯

• Vehicle to building 汽車與建築物連結，包含充電、相 關物聯網資訊更新等

MOD: 移動物體偵測系統 Movinig Object Detection BSW: 盲點警示系統 Blind Spot Warning RCTA: 後方車側警示系統 Rear Cross Traffic Alert LDW: 車道偏移警告系統 Lane Depature Warning

透過安全科技、自駕科技 帶來更自信的駕馭樂趣

全電動車之動力配置，帶給駕駛創新、 透過感應器、衛星、大數據整合行車路 興奮感受，更能帶來乾淨、更有效率 況於未來達到完全自動駕駛輔助之境界 的用車環境

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、 、 、 、 全自動車及 等創新 透過感應器、衛星、大數據整 等多項高端安全科技 引擎科技 合行車路況，於未來達到 完全 自動駕駛 之境界。 、 、 及 最新之節能引擎及 造就 車機與手機之整合， 的 全時防護系統等 出一級油耗

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油門誤
踩防制系統
行人
撞擊防護系統
° NISSAN 特色
移動物體偵測
全時防護系統
主動式車距維持
預警式防護系統
車道偏離警示系統
、 、 、 、
安、
四合一煞車系統等
P29 All right reserved by Yulon Nissan Motor Co., Ltd. Do not use without any permission. Confidentiality classification : Confidential
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Corporate Social Responsibility

Work Life Balance Award

CSR Award

ISO-14001 Certification

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Automobile Design Contest for College Students

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Environmental Education from Childhood

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Blood Donation

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ELLE Style Run

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Taiwan automobile market status

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43.0 43.5
41.4 41.1
36.8 37.0
35.5
31.9 29.6% 31.9 (43.0)
15.5%
28.8
10.5%
22.2 12.0%
-10.5%
4.8% 1.00%
4.3%
-0.9% 14.6
-3.6%
-30.3%
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(excluding heavy trucks)

（Jan.~Apr.）

Benefited from the increasing of global raw material price and shipments of electronic product, export volume continued to expand. Meanwhile, private consumption maintained moderate growth. Taiwan's annual economic growth reached 2.86% in 2017.

Driven by commodity tax support program and launches of new models by various brands, the annual TIV for 2017 reached 435K units.

Although the vehicle sales volume increased 5% in the first 4 months of 2018, the annual economic outlook is still forecasted to maintain similar performance as last year. Therefore, considering the mitigation of the commodity tax support program, the annual TIV for 2018 is expected conservatively to reach 430,000 units (excluding heavy trucks).

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PRC automobile market status

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TIV volume(unit:10K) Growth rate
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※sales volume including passenger and commercial vehicles
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(2,942)
（Jan.~Apr.）
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Dongfeng Nissan Passenger Vehicle Company – Sales performance

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Apr. YTD
396K units
343K units
15.4 %
2017 2018
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1,370K units 1,251K units 9.5 % 2017 Actual 2018 FCST (Without INFINITI)

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THANK YOU FOR YOUR ATTENTION

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All right reserved by Yulon Nissan Motor Co., Ltd. Do not use without any permission.

Confidentiality classification : Unclassified