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YP Investor Presentation 2021

Sep 2, 2021

51950_rns_2021-09-02_88720b50-3cb2-4454-bfb7-9ea559086479.pdf

Investor Presentation

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Stock code: 2023

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Yieh Phui Marketing and Sales Presentation

Steven Yang Vice President Global Marketing & Sales Date: Sep. 2, 2021

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DISCLAIMER

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This presentation is based on the information obtained from various sources which the company believes to be reliable. But at some point in the future, there are a variety of factors which could cause actual results to differ materially from those statements. Therefore, please refer to the information on MOPS website as the main basis if any adjustment has been made. (http://mops.twse.com.tw/mops/web/index)

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Outline

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1 Introduction to E-United Group and Yieh Phui
P.03
Market Overview
2
P.12
Continuous Profitable Business Model
3
P.26
4 Future Development
P.36
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 Introduction to the Group

 Introduction

to Yieh Phui

 Products & Applications

 Operation

Introduction to E-United Group 1 and Yieh Phui

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• Company Profile

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~~1 m~~ in Brief Introduction to Yieh Phui

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Sales gross profit
Sales
margin
NT$41.8 13.6%
H1, 2021 billion 11.0%
8.8% 8.0%
7.0%
compare 5.0%
with the NT$30.1 39%
figure last
year billion
y-o-y NT$253 65%
ratio 2016 2017 2018 2019 2020 2021~Q2
billion
Worldwide customers/ Dual production bases
countries on both Taiwan and China
137countries
71% of global countries
A year Exceeding 1.1 million mt 1.5 million mt
394 /1,000 Total annual capacity of
customers customers 2.6 million mt
Award for World-class
Niche products
TPM Achievement
 The first steel mill in Taiwan
2020 to implement TPM
180,000mt mt  The second company in the world in 2016 gets Advanced
world in 2016 gets Advanced
Special Award for TPM
2014~2020 Achievement (TPM top 2 award)
 The world's second steel mill
strives for ‘Award for World-class
1,640,000mtmt TPM Achievement’ in 2021
(TPM top 1 award)
Revenues
Production and Marking
Niche Market
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Sales volume
H1, 2021 YP 530,000mt
YP (China) 560,000mt
compare
with the
470,000
figure last year mt 17%
y-o-y ratio 420,000 31%
mt
Taiwan
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Global market share

  • Domestic/Export ratio(%): 35:65

  • Europe & US 35%→54%

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1.1 million mt 1.5 million mt Domestic ‘21
‘20
Total annual capacity of Europe & US
2.6 million mt
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Award for World-class
High-end product sales
TPM Achievement
 The first steel mill in Taiwan PhuizerMax
2020 to implement TPM & SolarKing
180,000mt mt  The second company in the world in 2016 gets Advanced The world's thickest 2.30mm pre-painted steel sheet 20,529 2019~2021 Domestic mt
Special Award for TPM accumulation
2014~2020 Achievement (TPM top 2 award)
 The world's second steel mill AMC Plus
strives for ‘Award for World-class Efficient PhuizerGreen
1,640,000mtmt TPM Achievement’ in 2021 & ColorGreen AMC Plus 34,528mt
(TPM top 1 award) 2018~2021
accumulation
Photov oltaic Power
Anti-
microbial
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1.1 / Brief Introduction to E-United Group

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  • Company Profile

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Real Estate & Leisure Business

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Manufacturing

Listed Emerging stock

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E-Da Development Eliter International E-Da Theme Park E-Da Outlet Mall E-Da Royal Hotel E-Da Skylark Hotel

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Yieh United Steel C orp. Yieh Hsing Enterprise Yieh Mau Corp.

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Great Emperor Hot el (Marriott) Angang Lian Zhong (40% shareholding) E Sky Land (shoppin Lian De/Lian Wei g mall) (Fujian)

Education

E-Shou University It is the only four comprehensiv e university in Taiwan with a "m edical college". It is an internatio nal comprehensive private unive rsity that emphasizes humanitie s, science and technology, and medicine and cultivates cross-d omain talents. It is also the large st international comprehensive and the most diverse private uni versity in southern Taiwan.

I-Shou International School

It is an IB World School implementin g the DP (Diploma Programme), MY P (Middle Years Programme) and th e PYP (Primary Years Programme) o f the international Baccalaureate in T aiwan. Twelve years of consistent int ernational high schools, including hig h schools, junior high schools and el ementary schools; provide dual-track education courses to help students p rogress to the ideal university.

Medical Service

E-Da Hospital E-Da Cancer Hospital E-Da Dachang Hospital

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Elite teams from various me dical centers provide patientcentered holistic medical car e and continuous medical ca re for patients, and return go odwill to the public as a wish of the founder.

E-Da Nursing Home E-Da Postpartum & Babycare Center

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On May 19, 2020, Common Wealth Magazine's survey of Taiwan’s new top 50 largest enterprise groups among 2000, E-United Group was ranked the 45 .

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1 2 3 4
•
1.2 / Introduction of Yieh Phui Enterprise(1/3) Company Profile
Founder and
Chairman
Mr. Lin, I-Shou
President of
Yieh Phui Enterprise
Chairman of
Yieh Phui (China)
Mr. Wu, Lin-Maw
Revenue (NT$, billion)
2018 30.03
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2018 30.03
2019 24.97
2020 20.94 10.655 billion
55%
2021 Q1~2 16.50
Consolidated revenue (NT$, billion)
2018 73.86
2019 59.69
2020 55.42
25.364 billion
2021 Q1~2 41.82 65%
y-o-y
y-o-y
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Address：NO. 369, Yuliao Road, Qiaotou District, Kaohsiung City 82544,

Date of Founding： March 20, 1986 Listing Date： July 28, 1995 Number of Employees：1,348 (Jun. 30, 2021) Capital：NT$ 18.91 billion (Jun. 30, 2021)

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Fubon Investment Forum, Q3 2021

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1.2 / Introduction of Yieh Phui Enterprise (2/3)

• Company Profile

Yieh Phui in Top 2000 companies ranking over the years

Year Total
revenue
(NT$, billion)		 CommonWealth Magazine CommonWealth Magazine CommonWealth Magazine China Credit
Information
Service, Ltd.

Top 2000
manufacturin
g companies
Taiwan
metallic raw
materials
category		 Top 1000
among
Taiwan, HK,
and China		 Top 5000
2020 55.422 74 3 898 -
2019 59.687 68 3 797 193
2018 73.856 55 3 677 154
2017 71.158 52 3 632 159
2016 52.847 61 3 665 185
2015 49.785 70 4 684 198
2014 605.67 56 3 536 147
2013 54.861 62 4 540 159
2012 56.496 59 4 475 127

In the centenary of the foundation of Republic of China Top 100 Taiwan Brands

Yieh Phui is the only one selected among the pure private steel industry

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In 2011, it was awarded the Taiwan's Top 100 Brands in the public selection of the 100th Anniversary of the Founding of Taiwan.

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• 1.2 / Introduction of Yieh Phui Enterprise (3/3)

• Company Profile

Yieh Phui Product and system certification

The first steel maker which owns the six certificates in the world.

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Quality Quality Environment Occupational safety Environmental protection Energy
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Yieh Phui Professional manufacturer of anti-corrosion steel

One of the world's largest professional coated steel manufacturers

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Metallic coated Prepainted Quality
Annual capacity Int'l norms
steel steel management
 Prepainted galvanized  1.1 million mt  ISO 9001
 JIS (JP)
Galvanized  Prepainted 5%Al-  QC 080000
Zn coated (YPE)  ASTM (US) IECQ HSPM
 5%Al-Zn coated  Prepainted 55%Al-Zn  1.50 million mt  JIS MARK
 55%Al-Zn coated coated  EN (Europe)  ISO 14001
 Prepainted Al-Mg- (YP China)  CNS (Taiwan)  ISO 18001
 Al-Mg-Zn coated Zn coated  ISO 5001
 Chystallite Silky  AS (AU)  RoHS
 SolarKing Total 2.6 million mt  GB (CN)  REACH TAF Certified
laboratories
The only one in Taiwan The only one in the world
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1.3 / Products and Market Applications (1/2)

• Company Profile

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Main products: galvanized steel/5%Al-Zn coated /55%Al-Zn
coated, and prepainted steel
Raw material Process Product
Hot-rolled Pickled
steel coil Pickling steel coil
Cold Cold-rolled
rolling steel coil
Hot-rolled Hot-dip Metallic
coated steel
steel coil galvanized coil
Prepainted
Color coated
steel coil
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Applications of coated steel
Construction Substrate for
materials, painting,
47.4% 34%
Construction Decoration Home
materials, materials, appliances
88.8% 7.5% 3.3%
Home appliances 9.2% Pipe making 2%
Metallic coated steel coil
steel coil
Prepainted
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Applications of coated steel

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Metallic coated steel coil
steel coil
Prepainted
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• Company Profile

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1.3 / Products and market applications (2/2)

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2 3 5
6
7 8 9
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Representative application references of industrial plant and public building

1. Roofing of Kaohsiung Namasia Mincyuan Elementary School, Kaohsiung, Taiwan

2. Siding of Pingtung Agricultural Biotechnology Park, Taiwan

3. Taipei 101 (floor decks)

4. (150MW)144MW groundtype Solar photovoltaic case in Qigu Dist., Tainan

5. Roofing/Siding of the 3rd Hangar of Evergreen Aviation Technologies Corp., Taoyuan, Taiwan

6. E-Da Cancer Hospital in Yanchao Dist., Kaohsiung City (floor decks)

7. Plant Building of Yulon Motors, Miaoli, Taiwan

8. The Royal Children’s Hospital in Melbourne, AU (floor decks)

9. China High-Speed Railway─Fuzhou Station

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• Company Profile

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1.4 / Consolidated Operation Overview

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 Consolidated net  Earnings per
 Gross profit margin
profit after tax Share (EPS) (NT$/per share)
(NT$,million )
13.64% 2,379 2,290 1.37 1.20
11.00% 1,345
8.85% 0.73
518
265
7.44% 8.00% 0.39
0.16
7.00%
5.00%
2015 2016 2017 2018 2019 2020 2021~Q2 (0.56)
(1,615) (1,700) (0.73)
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 Consolidated profitability and financial
 The trend of the sales of coated steel products
structure NT$, billion/unit
Item/Year 2015 2016 2017 2018 2019 2020 2021~Q2 燁輝(台灣)銷售量 Sales of Yieh Phui, Taiwan 燁輝(中國)銷售量 Sales of Yieh Phui (China) (10,000mt)
Sales Revenue 49,785 52,847 71,159 73,856 59,688 55,422 41,820 184
Gross ProfitSales Gross Profit 7.44%3,704 13.64%7,206 8.85%6,299 8.00%5,911 5.00%2,549 7.00% 4,151 11.00% 4,720 166 [172 ] 166 [169 ] 162 167 167 178 [185 193 187 183 ] increase y-o-y
Margin (%)
Sales Income 862 3,844 2,211 1,459 (895) 1,133 2,490 143 144 58.4%
Net Profit before Tax Net Profit after (1,597) 3,372 1,805 356 (1,985) 583 2,952 125 0 [130 ] 11 49 [53 ] 68 [69 ] 67 74 84 81 85 [82 89 ] 95 94 107
Tax (1,615) 2,379 1,345 265 (1,700) 518 2,290 48 54
Net Income Attributable
to Owners of the Parent (954) 2,502 1,367 309 (1,401) 735 2,273
Company
Net Income Attributable 52
to Non-controlling (661) (123) (22) (44) (299) (218) 16
Interest 125 119 117 119
EPS(NT$) (0.56) 1.37 0.73 0.16 (0.73) 0.39 1.2 95 90 [98 100 ] 95 93 [100 ] 86 93 [103 104 ] 92 89
Debt/Assets (%) 62.02 63.13 66.02 65.95 67.23 66.88 66.87 55
Current Ratio (%) 120.89 102.10 100.90 93.56 75.73 76.15 96.45
Quick Ratio (%) 74.11 54.28 48.21 42.74 35.44 28.07 28.99
Interest Expense 851 790 1,120 1,264 1,316 1,147 619
Shares (thousand
1,718,090 1,718,090 1,821,176 1,875,811 1,913,328 1,890,570 1,890,570
shares)
(IFRSs, International Financial Reporting Standards)
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･ ･ Yieh Phui (China) Changshu China

 Global Macroeconomic Forecast

  • China Market

 Domestic Market

  • Europe & US Market

  • Non-Europe & US Market

Market Overview 2

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• Market Overview

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World Economic Outlook: Latest 2.1 / Growth Forecast

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(Real GDP, annual percentage change)
Predictive
Value

2020 2021 2022		 (Real GDP, annual percentage change)
Predictive
Value

2020 2021 2022		 (Real GDP, annual percentage change)
Predictive
Value

2020 2021 2022		 (Real GDP, annual percentage change)
Predictive
Value

2020 2021 2022














Predictive
Value
2020 2021 2022
Predictive
Value
2020 2021 2022
Predictive
Value
2020 2021 2022
Predictive
Value
2020 2021 2022
Emerging Markets and Emerging
Economies
-2.1
6.3
5.2
World Output -3.2
6.0
4.9
High-income Economies -4.6
5.6
4.4
Asia Emerging Markets and
Emerging Economies		 -0.9
7.5
6.4
America(1) -3.5
7.0
4.9
Eurozone -6.5
4.6
4.3
China(2)		 2.3
8.1
5.7
Germany (4) -4.8
3.6
4.1		 India(5) -7.3
9.5
8.5
France(6) -8.0
5.8
4.2		 ASEAN -3.4
4.3
6.3
Italy (9) -8.9
4.9
4.2		 Europe Emerging Markets and
Emerging Economies		 -2.0
4.9
3.6
Spain(14) -10.8
6.2
5.8
Russia (12) -3.0
4.4
3.1
Japan(3) -4.7
2.8
3.0
Latin America and the Caribbean -7.0
5.8
3.2
Britain(7) -9.8
7.0
4.8		 Brazil(8) -4.1
5.3
1.9
Canada(10) -5.3
6.3
4.5		 Mexico(15) -8.3
6.3
4.2
Other high-income economy -2.0
4.9
3.6		 Middle East and Middle Asia -2.6
4.0
3.7
Saudi Arabia(20) -4.1
2.4
4.8
Others
South of Sahara, Africa -1.8
3.4
4.1
Emerging Markets and
Mid-income Economies		 -2.3
6.5
5.2
Nigeria(25) -1.8
2.5
2.6
Developing Country 0.2
3.9
5.5		 South Africa(35) -7.0
4.0
2.2

 Source: updated from 《 World economic outlook 》 IMF, July 2021.

 Note: data and predictive value of India are listed by fiscal year, the fiscal year of 2020 and 2021 are both started from April 2020.

Based on calendar year, India’s economic growth forecast for 2021 is 8.8% and 8.3% for 2022. (Included in 《 World economic outlook 》 , July 2021)  “( )” are the ranking of global GDP for 2020.

 DGBAS announced Taiwan’s GDP for 2020 is 3.11%, also on August 13[th] , 2021 announced Taiwan’s GDP for 2021 is 5.88% and 3.69% for 2022.

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• Market Overview

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2.2 / PMI Trends in Major Global Markets

2021/07 PMI indicators of each country

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YP’s main markets
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65.9
62.8 63.4
58.0 59.0 59.7
55.3 56.7 56.4 56.9
54.0 53.0 53.0
50.4
47.5
45.1
40.1
PMI trends in Eurozone/Germany/US/China
Eurozone Germany U.S. China
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70 65 60 55 50 45 40 35 30 25

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Source: YP’s Raw Materials Import & Market Research Office

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• Market Overview

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2.3 / The Price Trends of HR, CR & GI

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HOT COLD HR ROLLED CR ROLLED GI Galvanized

After COVID-19 pandemic (2020 Q3 ~ 2021 Q2), steel prices in major markets have increased sharply:

USA ：$1,423/MT (217%)

1) EUROPE ：$754~863MT (154%~173%) 2) ASIA ：$325~488/MT (56%~106%)

CR market price

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2,550
CR/ CR/USA domestic 美國內銷 CR/ CR/North Europe d 北歐內銷 omestic CR/ CR/South Europe domestic 南歐內銷
2,350 (EXW) (EXW) (EXW) (EXW) (EXW) (EXW)
CR/ CR/East Asia import 東亞進口 CR/ HR/China export 中國出口 中鋼冷軋內銷價 CR domestic price of CSC
2,150 (CFR East Asia) (CFR East Asia) (FOB (FOB Shanghai) 上海 )
1,950
1,750
1,550
1,350
1,150
950
750
550
350
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HR market price
2,350
HR/ HR/USA domestic 美國內銷 HR/ HR/North Europe d 北歐內銷 omestic HR/ HR/South Europe domestic 南歐內銷
2,150 (EXW) (EXW) (EXW) (EXW) (EXW) (EXW) Group
HR/ HR/S.E.A. import 東南亞進口 HR/ HR/China export 中國出口 中鋼 average price of + 中鴻均價 1
1,950 (CFR (CFR HCM) 胡志明市 ) (FOB (FOB Tianjin) 天津 ) CSC and CHS
1,750
1,550
Group
1,350 2
1,150
950 Group
750 3
550
350
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GI market price
2550
GI/ GI/USA domestic 美國內銷 GI/ GI/North Europe do 北歐內銷 mestic GI/South Europe domestic GI/ 南歐內銷
2350 (EXW) (EXW) (EXW) (EXW) (EXW) (EXW)
2150 GI/(FOB GI/East Asia import (CFR East Asia) 中國出口上海 ) 中鋼鍍鋅內銷價 GI domestic price of CSC
1950
1750
1550
1350
1150
950
750
550
350
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Source ： SBB / Raw Material Import & Market Research Office

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1 2 3 4
• Market Overview
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2.4 / China Market (1/4)

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1 2 3
Economic recover rapidly
Crude steel output vs steel demand Inventory fluctuation is stable
GDP growing stable 4,000
(Ten thousand tons)
(100 million)
8.4 (%) 12.00 2018~2021/7/30 China factory +
預估產量 Estimated output 10.53 3,500 social inventory trend chart
10.00 Crude steel output 粗鋼生產量 Y 2018年 ear 2018
5.6 Steel consumption 鋼材消費量 3,000 Y 2019年 ear 2019
8.00 Y2020年 ear 2020
2,500 Y 2021年 ear 2021
6.00
2.3
2,000
4.00
5.63
2.00 1,500
2020 2021(f) 2022(f)
Due to the China-US trade war and inflation 0.00 1,000
2005 2007 2009 2011 2013 2015 2017 2019 2021 1 4 7 10 13 16 19 22 25 28 31 34 37 40 43 46 49 52
concerns, GDP estimates for 2022 are conservative . (1-6) (week)
4 Market keep stable after 5 Export tax rebate policy adjustment 6 Related market issues
upheaval Guarantee supply and price stability, carbon neutral policy,
(RMB/tons) reduce production of export steel or supply domestic. 2050 carbon neutral target
6,800 2017~2021/7/30 → Steel mills reduce production and supply
Shanghai hot rolled price trend Delta virus outbreak
6,300 8/1 second
After the tax rebate policy, 5/1first tax rebate tax rebate →Inject uncertain factors on the overall
5,800 steel prices in the Chinese
economy
market is consolidate, the Cold rolled,
5,300 attempt to curb inflation is Mainly tax rebate Hot rolled, Galvanized / Effect of the cancellation of steel tax
4,800 obvious. products pre-painted Galvalume rebate in 2021
4,300 Total 23.33 million tons → Decrease in exports and reduce the
Export volume
3,800 in 2020 Total steel export volume in 2020 is impact on other international markets
54.26 million tons
3,300 Infrastructure, new energy vehicles,
Percentage of
2,800 total steel exports 43% Henan (Zhengzhou) flood reconstruction
in 2020 →Increased demand and stable market
Overview
Market
Opportunity
2017/01/03 2017/03/06 2017/05/03 2017/06/29 2017/08/24 2017/10/25 2017/12/20 2018/2/14 2018/4/18 2018/6/18 2018/8/13 2018/10/11 2018/12/06 2019/02/01 2019/03/29 2019/05/28 2019/07/19 2019/09/01 2019/10/23 2019/12/18 2020/02/12 2020/04/06 2020/06/02 2020/07/29 2020/09/22 2020/11/23 2021/1/19 2021/3/15 2021/5/11 2021/7/6 2021/8/31
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  • 2050 carbon neutral target → Steel mills reduce production and supply Delta virus outbreak →Inject uncertain factors on the overall economy Effect of the cancellation of steel tax rebate in 2021

Data Source ： Yieh Phui Raw Materials Import & Market Research Office

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the trade war between China & United States

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One Belt and One Road
State-owned Enterprises Great power
Advance, Strive to contain China's rise
Private Sector Retreats Target
Russia,
2.4%
2025 Made in China Defend the U.S. dollar hegemony
China, America,
RMB Internationalization 20.9% 31.4% The right to speak of Vaccine norms
South Africa, 0.5% G20
Argentina, 0.8%
China Saudi Arabia 1.1% Japan, U.S.
Turkey, 1.2% 7.6%
Indonesia, 1.3%
team Mexico, 1.9% team
Australia, 2.1%
South Korea, 2.4%
Canada, 2.6%
India, 3.0%
Italy, 3.2%
Economic system war Geopolitical and Technology war Currency war
military battle
Economic decoupling war High tariff barrier war Space war Vaccine war
Source: IMF World Economic Outlook
Brazil, 3.4%
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2.4 / China Market (3/4)

. /
資料來源：中國大陸國家統計局、燁輝進口暨市調室
10,000mt
Year/month
National
monthly
production
National daily
output
Increase or
decrease
from last
period
Increase
or
decrease
2019/01
7,500
253.52
7.97
3.25%
2019/02
7,458
253.52
0.00
0.00%
2019/03
8,033
259.12
5.60
2.21%
2019/04
8,503
283.43
24.31
9.38%
2019/05
8,909
287.40
3.97
1.40%
2019/06
8,753
291.78
4.38
1.52%
2019/07
8,522
274.90
-16.88
-5.78%
2019/08
8,725
281.45
6.55
2.38%
2019/09
8,277
275.90
-5.55
-1.97%
2019/10
8,152
262.97
-12.93
-4.69%
2019/11
8,029
267.62
4.66
1.77%
2019/12
8,427
271.82
4.20
1.57%
2020/01
7,993
257.83
-13.99
-5.15%
2020/02
7,477
257.83
0.00
0.00%
2020/03
7,898
254.77
-3.06
-1.19%
2020/04
8,503
283.40
28.63
11.24%
2020/05
9,227
297.65
14.25
5.03%
2020/06
9,158
305.30
7.65
2.57%
2020/07
9,336
301.16
-4.14
-1.36%
2020/08
9,485
305.97
4.81
1.60%
2020/09
9,256
308.53
2.56
0.84%
2020/10
9,220
297.42
-11.11
-3.60%
2020/11
8,766
292.20
-5.22
-1.76%
2020/12
9,125
294.35
2.15
0.74%
2021/01
9,194
296.59
2.24
0.76%
2021/02
8,305
296.59
0.00
0.00%
2021/03
9,402
303.29
6.70
2.26%
2021/04
9,785
326.15
22.86
7.54%
2021/05
9,945
320.81
-5.34
-1.64%
2021/06
9,388
312.92
-7.89
-2.46%
2021/07
8,679
279.97
-32.95 -10.53%
0
50
100
150
200
250
300
350
400
0
2,000
4,000
6,000
8,000
10,000
12,000
10,000mt
全國日均產量
全國月產量
National daily output
~~N~~ational monthly production
Year
National
Annual
production
National Daily
Output
2018
92,826
254.32
2019
99,634
272.97
2020
105,300
274.99
Till July, 2021
65,012
306.66
10,000mt
Crude steel production in China
na aret(3/4)		 . /
資料來源：中國大陸國家統計局、燁輝進口暨市調室
10,000mt
Year/month
National
monthly
production
National daily
output
Increase or
decrease
from last
period
Increase
or
decrease
2019/01
7,500
253.52
7.97
3.25%
2019/02
7,458
253.52
0.00
0.00%
2019/03
8,033
259.12
5.60
2.21%
2019/04
8,503
283.43
24.31
9.38%
2019/05
8,909
287.40
3.97
1.40%
2019/06
8,753
291.78
4.38
1.52%
2019/07
8,522
274.90
-16.88
-5.78%
2019/08
8,725
281.45
6.55
2.38%
2019/09
8,277
275.90
-5.55
-1.97%
2019/10
8,152
262.97
-12.93
-4.69%
2019/11
8,029
267.62
4.66
1.77%
2019/12
8,427
271.82
4.20
1.57%
2020/01
7,993
257.83
-13.99
-5.15%
2020/02
7,477
257.83
0.00
0.00%
2020/03
7,898
254.77
-3.06
-1.19%
2020/04
8,503
283.40
28.63
11.24%
2020/05
9,227
297.65
14.25
5.03%
2020/06
9,158
305.30
7.65
2.57%
2020/07
9,336
301.16
-4.14
-1.36%
2020/08
9,485
305.97
4.81
1.60%
2020/09
9,256
308.53
2.56
0.84%
2020/10
9,220
297.42
-11.11
-3.60%
2020/11
8,766
292.20
-5.22
-1.76%
2020/12
9,125
294.35
2.15
0.74%
2021/01
9,194
296.59
2.24
0.76%
2021/02
8,305
296.59
0.00
0.00%
2021/03
9,402
303.29
6.70
2.26%
2021/04
9,785
326.15
22.86
7.54%
2021/05
9,945
320.81
-5.34
-1.64%
2021/06
9,388
312.92
-7.89
-2.46%
2021/07
8,679
279.97
-32.95 -10.53%
0
50
100
150
200
250
300
350
400
0
2,000
4,000
6,000
8,000
10,000
12,000
10,000mt
全國日均產量
全國月產量
National daily output
~~N~~ational monthly production
Year
National
Annual
production
National Daily
Output
2018
92,826
254.32
2019
99,634
272.97
2020
105,300
274.99
Till July, 2021
65,012
306.66
10,000mt
Crude steel production in China
na aret(3/4)		 . /
資料來源：中國大陸國家統計局、燁輝進口暨市調室
10,000mt
Year/month
National
monthly
production
National daily
output
Increase or
decrease
from last
period
Increase
or
decrease
2019/01
7,500
253.52
7.97
3.25%
2019/02
7,458
253.52
0.00
0.00%
2019/03
8,033
259.12
5.60
2.21%
2019/04
8,503
283.43
24.31
9.38%
2019/05
8,909
287.40
3.97
1.40%
2019/06
8,753
291.78
4.38
1.52%
2019/07
8,522
274.90
-16.88
-5.78%
2019/08
8,725
281.45
6.55
2.38%
2019/09
8,277
275.90
-5.55
-1.97%
2019/10
8,152
262.97
-12.93
-4.69%
2019/11
8,029
267.62
4.66
1.77%
2019/12
8,427
271.82
4.20
1.57%
2020/01
7,993
257.83
-13.99
-5.15%
2020/02
7,477
257.83
0.00
0.00%
2020/03
7,898
254.77
-3.06
-1.19%
2020/04
8,503
283.40
28.63
11.24%
2020/05
9,227
297.65
14.25
5.03%
2020/06
9,158
305.30
7.65
2.57%
2020/07
9,336
301.16
-4.14
-1.36%
2020/08
9,485
305.97
4.81
1.60%
2020/09
9,256
308.53
2.56
0.84%
2020/10
9,220
297.42
-11.11
-3.60%
2020/11
8,766
292.20
-5.22
-1.76%
2020/12
9,125
294.35
2.15
0.74%
2021/01
9,194
296.59
2.24
0.76%
2021/02
8,305
296.59
0.00
0.00%
2021/03
9,402
303.29
6.70
2.26%
2021/04
9,785
326.15
22.86
7.54%
2021/05
9,945
320.81
-5.34
-1.64%
2021/06
9,388
312.92
-7.89
-2.46%
2021/07
8,679
279.97
-32.95 -10.53%
0
50
100
150
200
250
300
350
400
0
2,000
4,000
6,000
8,000
10,000
12,000
10,000mt
全國日均產量
全國月產量
National daily output
~~N~~ational monthly production
Year
National
Annual
production
National Daily
Output
2018
92,826
254.32
2019
99,634
272.97
2020
105,300
274.99
Till July, 2021
65,012
306.66
10,000mt
Crude steel production in China
na aret(3/4)		 . /
資料來源：中國大陸國家統計局、燁輝進口暨市調室
10,000mt
Year/month
National
monthly
production
National daily
output
Increase or
decrease
from last
period
Increase
or
decrease
2019/01
7,500
253.52
7.97
3.25%
2019/02
7,458
253.52
0.00
0.00%
2019/03
8,033
259.12
5.60
2.21%
2019/04
8,503
283.43
24.31
9.38%
2019/05
8,909
287.40
3.97
1.40%
2019/06
8,753
291.78
4.38
1.52%
2019/07
8,522
274.90
-16.88
-5.78%
2019/08
8,725
281.45
6.55
2.38%
2019/09
8,277
275.90
-5.55
-1.97%
2019/10
8,152
262.97
-12.93
-4.69%
2019/11
8,029
267.62
4.66
1.77%
2019/12
8,427
271.82
4.20
1.57%
2020/01
7,993
257.83
-13.99
-5.15%
2020/02
7,477
257.83
0.00
0.00%
2020/03
7,898
254.77
-3.06
-1.19%
2020/04
8,503
283.40
28.63
11.24%
2020/05
9,227
297.65
14.25
5.03%
2020/06
9,158
305.30
7.65
2.57%
2020/07
9,336
301.16
-4.14
-1.36%
2020/08
9,485
305.97
4.81
1.60%
2020/09
9,256
308.53
2.56
0.84%
2020/10
9,220
297.42
-11.11
-3.60%
2020/11
8,766
292.20
-5.22
-1.76%
2020/12
9,125
294.35
2.15
0.74%
2021/01
9,194
296.59
2.24
0.76%
2021/02
8,305
296.59
0.00
0.00%
2021/03
9,402
303.29
6.70
2.26%
2021/04
9,785
326.15
22.86
7.54%
2021/05
9,945
320.81
-5.34
-1.64%
2021/06
9,388
312.92
-7.89
-2.46%
2021/07
8,679
279.97
-32.95 -10.53%
0
50
100
150
200
250
300
350
400
0
2,000
4,000
6,000
8,000
10,000
12,000
10,000mt
全國日均產量
全國月產量
National daily output
~~N~~ational monthly production
Year
National
Annual
production
National Daily
Output
2018
92,826
254.32
2019
99,634
272.97
2020
105,300
274.99
Till July, 2021
65,012
306.66
10,000mt
Crude steel production in China
na aret(3/4)		 . /
資料來源：中國大陸國家統計局、燁輝進口暨市調室
10,000mt
Year/month
National
monthly
production
National daily
output
Increase or
decrease
from last
period
Increase
or
decrease
2019/01
7,500
253.52
7.97
3.25%
2019/02
7,458
253.52
0.00
0.00%
2019/03
8,033
259.12
5.60
2.21%
2019/04
8,503
283.43
24.31
9.38%
2019/05
8,909
287.40
3.97
1.40%
2019/06
8,753
291.78
4.38
1.52%
2019/07
8,522
274.90
-16.88
-5.78%
2019/08
8,725
281.45
6.55
2.38%
2019/09
8,277
275.90
-5.55
-1.97%
2019/10
8,152
262.97
-12.93
-4.69%
2019/11
8,029
267.62
4.66
1.77%
2019/12
8,427
271.82
4.20
1.57%
2020/01
7,993
257.83
-13.99
-5.15%
2020/02
7,477
257.83
0.00
0.00%
2020/03
7,898
254.77
-3.06
-1.19%
2020/04
8,503
283.40
28.63
11.24%
2020/05
9,227
297.65
14.25
5.03%
2020/06
9,158
305.30
7.65
2.57%
2020/07
9,336
301.16
-4.14
-1.36%
2020/08
9,485
305.97
4.81
1.60%
2020/09
9,256
308.53
2.56
0.84%
2020/10
9,220
297.42
-11.11
-3.60%
2020/11
8,766
292.20
-5.22
-1.76%
2020/12
9,125
294.35
2.15
0.74%
2021/01
9,194
296.59
2.24
0.76%
2021/02
8,305
296.59
0.00
0.00%
2021/03
9,402
303.29
6.70
2.26%
2021/04
9,785
326.15
22.86
7.54%
2021/05
9,945
320.81
-5.34
-1.64%
2021/06
9,388
312.92
-7.89
-2.46%
2021/07
8,679
279.97
-32.95 -10.53%
0
50
100
150
200
250
300
350
400
0
2,000
4,000
6,000
8,000
10,000
12,000
10,000mt
全國日均產量
全國月產量
National daily output
~~N~~ational monthly production
Year
National
Annual
production
National Daily
Output
2018
92,826
254.32
2019
99,634
272.97
2020
105,300
274.99
Till July, 2021
65,012
306.66
10,000mt
Crude steel production in China
na aret(3/4)
10,000mt
Year/month National
monthly
production		 National daily
output		 Increase or
decrease
from last
period		 Increase
or
decrease
2019/01 7,500 253.52 7.97 3.25%
2019/02 7,458 253.52 0.00 0.00%
2019/03 8,033 259.12 5.60 2.21%
2019/04 8,503 283.43 24.31 9.38%
2019/05 8,909 287.40 3.97 1.40%
2019/06 8,753 291.78 4.38 1.52%
2019/07 8,522 274.90 -16.88 -5.78%
2019/08 8,725 281.45 6.55 2.38%
2019/09 8,277 275.90 -5.55 -1.97%
2019/10 8,152 262.97 -12.93 -4.69%
2019/11 8,029 267.62 4.66 1.77%
2019/12 8,427 271.82 4.20 1.57%
2020/01 7,993 257.83 -13.99 -5.15%
2020/02 7,477 257.83 0.00 0.00%
2020/03 7,898 254.77 -3.06 -1.19%
2020/04 8,503 283.40 28.63 11.24%
2020/05 9,227 297.65 14.25 5.03%
2020/06 9,158 305.30 7.65 2.57%
2020/07 9,336 301.16 -4.14 -1.36%
2020/08 9,485 305.97 4.81 1.60%
2020/09 9,256 308.53 2.56 0.84%
2020/10 9,220 297.42 -11.11 -3.60%
2020/11 8,766 292.20 -5.22 -1.76%
2020/12 9,125 294.35 2.15 0.74%
2021/01 9,194 296.59 2.24 0.76%
2021/02 8,305 296.59 0.00 0.00%
2021/03 9,402 303.29 6.70 2.26%
2021/04 9,785 326.15 22.86 7.54%
2021/05 9,945 320.81 -5.34 -1.64%
2021/06 9,388 312.92 -7.89 -2.46%
2021/07 8,679 279.97 -32.95 -10.53%

Crude steel production in China

Fubon Investment Forum, Q3 2021 

2021/8/30

P.19/43

• Market Overview

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2.4 /

China Market (4/4)

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Strategy “One Belt and One Road” of China's Iron and Steel Industry

Activel Investment worldwide y
Actively Investment wor No.
investor
Country
Annual
production
capacity
(10,000 tons)
Steel plant type
16
MCC
Iran
100Comprehensive Steel
Plant
17
武新峰集團
Egypt
200Short-process Steel
Plant
18
Chinese funded
company
Tanzania
─ Steel Mill
19
國泰鋼鐵公司
Republic of Zambia
─ Angle Steel Plant
20
Tsinghan Holding
Group
Zimbabwe
200Comprehensive Steel
Plant
21
HBIS Group
South Africa
500 Full-process Steel Plant
22
STAR EVER
HOLDINGSLIMITED
Nigeria
50Comprehensive Steel
Plant
23
淮冶集團
Uzbek
80Electric Furnace Steel
Plant
24
Magong& Jiuquan Steel
Kazakh
100Comprehensive Steel
Plant
25
HBIS Group
Serbia
177Comprehensive Steel
Plant
26
Jingye Group
United Kingdom
3,000Comprehensive Steel
Plant
27
Chinese Company
Republic of Kenya
─ The first steel plant
ldwide
• A total of 20 countries.
• A total of 27 companies: x2 has been acquired, x8 has been invested,
x4 has been put into production, x11 is planned to be invested, x1 has
~~been helped to be built, x1 has been sold.~~
No. investor Country Annual
production
capacity
(10,000 tons)		 Steel plant type No. investor Country Annual
production
capacity
(10,000 tons)		 Steel plant type
1 PANHUA Group Philippines 1,000 Comprehensive Steel Plant 16 MCC Iran 100
Comprehensive Steel
Plant
2 HBIS Group Philippines 800 Integrated Steel Work 17 武新峰集團 Egypt 200
Short-process Steel
Plant
3 Baowu Group Cambodia 310 Blast Furnace Plant 18 Chinese funded
company		 Tanzania ─ Steel Mill
4 Delong Steel Thailand 60 Hot Rolling of Ribbon Steel 19 國泰鋼鐵公司 Republic of Zambia ─ Angle Steel Plant
5 Xin Wu'an Steel Group Malaysia 1,000 Comprehensive Steel Plant 20 Tsinghan Holding
Group		 Zimbabwe 200
Comprehensive Steel
Plant
6 Jianlong Group Malaysia 70 Comprehensive Steel Plant 21 HBIS Group South Africa 500 Full-process Steel Plant
7 Guangxi Shenglong
Metallurgical		 Malaysia 350 Long Process Steel Plant 22 STAR EVER
HOLDINGSLIMITED		 Nigeria 50
Comprehensive Steel
Plant
8 Tsinghan Holding
Group		 Indonesia 300 Stainless Steel Plant 23 淮冶集團 Uzbek 80
Electric Furnace Steel
Plant
9 Delong Steel Group Indonesia 2,000 Comprehensive Steel Plant 24 Magong& Jiuquan Steel Kazakh 100
Comprehensive Steel
Plant
10 Hebei Puyang Iron and
Steel		 Indonesia 60 Ferronickel production line 25 HBIS Group Serbia 177
Comprehensive Steel
Plant
11 Nanjing Iron and Steel
Group		 Indonesia 260 Comprehensive Steel Plant 26 Jingye Group United Kingdom 3,000
Comprehensive Steel
Plant
12 Kunsteel Myanmar 400 Full-process Steel Plant 27 Chinese Company Republic of Kenya ─ The first steel plant
13 Kunsteel Banglades
h		 270 Full-process Steel Plant • A total of 20 countries.
• A total of 27 companies: x2 has been acquired, x8 has been invested,
x4 has been put into production, x11 is planned to be invested, x1 has
~~been helped to be built, x1 has been sold.~~
14 AASSCL Pakistan 200 ─
15 SINOSTEEL Pakistan 300 Comprehensive Steel Plant
400

Domestic consolidation and production restrictions,
 400

Domestic consolidation and production restrictions,
 800

The price trends of coal and iron		 800

The price trends of coal and iron		 800

The price trends of coal and iron		 800

The price trends of coal and iron		 800

The price trends of coal and iron		 800

The price trends of coal and iron
50
100
150
200
250
300
350

Top 16 Companies in Global Steel Production in 2020
Rank
Corp.
Country
Production(10,000 tons)
1
Baowu Group
China
11,529
2
ArcelorMittal
Luxemburg
7,846
3
Ansteel Group+Benxi Steel GroupChina
5,555
4
HBIS Group
China
4,376
5
Shagang Group
China
4,159
6
NIPPON STEEL Corp.
Japan
4,158
7
POSCO
Korea
4,058
8
Jianlong Heavy Industry Group
China
3,647
9
Shougang Group
China
3,400
10
Shandong Iron & Steel CompanyChina
3,111
11
Delong Steel
China
2,826
12
Tata Group
India
2,807
13
Valin Group
China
2,678
14
JFE Steel
Japan
2,436
15
NUE-Nucor.
U.S.A
2,269
16
Hyundai Stee
Korea
1,981
impacting on imported iron ore		 (USD/tons)
62% iron
HRB cos		 ore (CFR
t( Right Ax		 North China)
is)

High quality low volatile coking coal(CFR China)
High quality low volatile coking coal(FOB Australia)		 
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2.5 / Taiwan Market (1/2)

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1 2
COVID-19 impact minimized in 2020 CSC Hot roll coils (RRQ)
GDP stable growth Cumulative increase
(%) (NT$/mt) Raw Material→construction cost
5.88 35,000 increase sharply
 ‘20-Jul~’21-Jun Cumulative increase
30,000
 Price:NT$13,250/mt
3.69
3.11  Increase: 58.86%
25,000
20,000
15,000
2020 2021(f) 2022(f)
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Data Source: Directorate General of Budget, Accounting and Statistics, Executive Yuan, R.O.C.(Taiwan)

Steel price pattern changed from periodical to structural

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1 2 3 4
• Market Overview
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3
Domestic Price(2020/10~2021/8)
2020 Q4~2021 Jun. price sharply increase.
(NT$/kg) 2021 Jul.~Aug. price stabilized.
40.0
36.0
32.0
28.0
24.0
20.0 CSC HRC HGI(slit)
CSC CR CGI
16.0
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4 2021 H1 Domestic Coated Steel Mill 5 COVID-19 impact-prevention of pandemic
Capacity Utilisation rate (2021/5/1~2021/8/13)
Worse(5/30)
(10 Thousand Metric Ton )
Improve(7/1)
GI/GL PP
Mills Capacity [Utilization ] rate Mills Capacity [Utilization ] rate Cumulative Positive Cases :
Full 15,836
YP 100 98.4% YP 35 100%
Capacity
SYSCO 25 62%
CSC 100 73.0%
Shang Shin 18 23% Vaccination rate: 39% (1 [st] dose)
SYSCO 50 80.5% KCICO 25 17% 2.7% (2 [nd] dose)
Prosperity Tieh 80 90.0% Prosperity Tieh 20 100%
Synn Cheng Ho 6 50%
25 96.0%
Industrial Gold-Joint 6 10%
HL I-Domain 5 36% Flow of people:
Steel 30 20.0% Chain-Dollar 5 19% Lowest-61% (2021/5/30)
Globalization has made Data Source: Google
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Globalization has made

6

Related market issues

  • Ministry of Finance has announced AntiDumping sun-set review result on GI material from China and Korea, which will limit GI imports and stabilize market price.

  • As demand and price both going up,Yieh Phui has full capacity utilization.

  • Taiwan electronics companies have expand investment in Taiwan, which create demands for logistics factories and Yieh Phui’s PP order has surged.

  • SolarKing market share has been expanding, while the demand for new solar project is promising, along with demand in Energy Storage Cabinet and Cable Tray.

Data Source ： Yieh Phui Raw Materials Import & Market Research Office

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1 2 3 4
• Market Overview
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2.5 / Taiwan Market (2/2) (2/2)

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/ Taiwan Market (2/2) (2/2)
Unit (NT$/metric ton) 2020 2021
2021/1~
Month-Year May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug 2021/8
Total
Base price -
18,200 17,300 17,750 18,350 18,650 19,350 20,350 20,650 22,050 24,450 24,900 25,350 27,850 30,550 30,550 30,550
of CSC
Price shift 0 (900) 450 600 300 700 1,000 300 1,400 2,400 450 450 2,500 2,700 0 0 9,900
Change from
0% (4.95%) 2.60% 3.38% 1.63% 3.75% 5.17% 1.47% 6.78% 10.88% 1.84% 1.81% 9.86% 9.69% 0% 0% 40.86%
last month (%)
Base price -
19,350 19,850 20,350 21,050 21,850 22,450 22,950 24,950 27,350 27,850 28,350 30,850 33,850 34,350 34,350
of Yieh Phui [19,350 ]
Price shift 0 0 500 500 700 800 600 500 2,000 2,400 500 500 2,500 3,000 500 0 11,400
Change from
0% 0% 2.58% 2.52% 3.44% 3.80% 2.75% 2.23% 8.71% 9.62% 1.83% 1.80% 8.82% 9.72% 1.48% 0% 41.98%
last month (%)
Unit (NT$/metric ton)
37,000
34,350
35,000
Yieh Phui
33,000 Raise
30,550
31,000
point China Steel
29,000
27,000
25,000
‘20/7~’21/6
23,000 CSC Hot roll coils (RRQ)
Cumulative increase
21,000
 Price:NT$13,250/mt
19,000
 Increase: 58.86%
17,000
15,000
Yieh Phui Total Price Increase: NT$14,500
China Steel Total Price Increase: NT$13,250
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• Market Overview

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3
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1
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2.6 / US Market (1/2)

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1 2 3
GDP stablized after COVID-19 US steel price /stock price surged New house demand strong
(2020/01~2021/08)
(%) 120.00 2,500 2,000
美國熱軋價格 US Hot-Roll ( 左軸 ) US Steel 股價 Permits 執照核准數
6.4 5.6 100.00 ArcelorMittal 股價 Nucor 股價 2,000 1,800 開工數 Starts
80.00 SDI 股價 1,600
1,500
60.00 SDI 1,400
1,000
40.00 1,200
500
20.00 1,000
2020 2021(f) 2022(f) 0.00 0 800
-3.5 Jan-20 Feb-20 Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21 Jul-21 Aug-21
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4 President Biden’s $1.2 trillion
infrastructure bill
Additional $0.58 Trillion expenditure
Other Transportation
Infrastructure $312B USD
$266B USD
46% 54%
Small chance for steel price decrease
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5 US steel mill lead time extended- 6 Related market issues
demand bigger than supply
 China-US trade war
12 US Hot-Roll Lead Time(Week)
11  COVID variants have lead to new
10 pandemic
9
8
7  Section 232: Trends of Import
6 Tariffs on Steel and Al
5
 Pressure from inflation
4
3  President Biden’s Infrastructure Plan
2
 Steel Mill’s end year stoppage for
maintenance, which leads to supply
shortage
Overview
Market
Opportunity
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Data Source ： Yieh Phui Raw Materials Import & Market Research Office

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• Market Overview

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3
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1
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2.6 / Europe Market (2/2)

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1 2 3
GDP recovered after COVID-19 Europe price surged (2020~2021/07) Strong steel demand
(%) North Europe HR price Trend(USD/mt) (Million mt)
6.4 1,600 162.4
5.6
1,400 221%
154.9
1,200
1,000
140.6
800
600
2020 2021(f) 2022(f)
400
-3.5
2020 2021(f) 2022(f)
Source: WSA, Short Range Outlook, April 2021
4 Yieh Phui’s sales and price 5 Strong recovery after COVID-19 6 Related market issues
15% both surged 35,000 pandemic peak
出貨量(噸)(右軸) Shipments (mt)  Strong economy recovery after
10% 獲利率 Profitability 30,000 Eurozone PMI Trend 62.8 pandemic.
25,000  COVID variants have lead to new
5% 20,000 pandemic
 Trade measures “Safeguard”
15,000 5 0 47.4
0% 44.5 continues
10,000 39.4  Steel mills has strong attitude on
-5% 5,000 33.4 holding price
 Green related industry - potential
-10% 0 business opportunity
 Post-flood rebuild demand
Overview
Market
Feb-20 Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21 Jul-21 Jan-20 Feb-20 Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21 Jul-21 Opportunity
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Data Source ： Yieh Phui Raw Materials Import & Market Research Office

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1 2 3 4
• Market Overview
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Non-EU/US market (1/2) - 2.7 / ASEAN and Australia

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/
ASEAN and Australia
1 COVID-19 has impacted the economy of SEA 2 COVID-19 cases peaked again in SEA 3 Vaccincation rate influences
economy recovery
20 泰國 Thailand 菲律賓 Philippines (%) South-East Asia new cases weekly (Million) 3.0 74.5% 11 劑 [st] shot
Indonesia 印尼 新加坡 Singapore 9.4% 22 劑 [nd] shot
15 M 馬來西亞 alaysia 越南 Vietnam 2.5
A 澳洲 ustralia
10
2.0 48.7%
5
1.5 21.6%
0 65.1%
1.0 21.8%
18.5%
-5
-10 0.5 8.7% 15.6% 11.4% 1.6% 27.1% 9.8%
0.0 7.7% 6.1% 9.8% 8.7%
-15 1.0%
Vietnam 越南 Thailand 泰國 Singapore 新加坡 Philippines 菲律賓 馬來西亞 Malaysia Indonesia 印尼
-20 (44) (27) (40) (31) (33) (16)
Above table ( )Indicates the nation’s GDP ranking in 2020
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4 Steel demand will be strong if recovered from 5 China’s export tax-rebate cancellation 6 Related market issues
COVID-19 pandemic policy has huge impact in the market
(Million mt) (百萬公噸) 78.6 76.2 80 80.2 74.9  COVID-19 situation and vaccination rate
48.7 14.1 10.6 8.3 2.7 9 4 52.4 14.6 8.2 5.1 3.8 9.7 11 58.6 12.5 16.4 8.9 3.8 11 6 63.1 12.7 17.6 11.8 6.7 4.3 10 [12.9 ] 10.1 17.5 14.4 7.3 3.8 66 70.6 11.4 18.1 18.3 8.8 10 4 12.7 13.6 15.1 15.9 10.3 20.8 22.3 9.7 2.8 21.6 9.4 9.8 2.8 19 10.7 19.2 22.3 9.8 2.9 10.1 18.4 24.3 9.2 2.3 70.5 15.1 16.3 23.3 5.7 8.5 1.6 17.1 24.7 6.1 16 9 2 印尼 馬來西亞 菲律賓 新加坡 泰國 越南 Thailand Singapore Vietnam Philippines Malaysia Indonesia PP/GI/GL Total 65% 28% PP China Carbon Steel GI/GL 37% export was 23.33 M 2020 mt 26% HR CR 9%  RCEPPartnershipand Progressive Agreement for Trans-Pacific PartnershipImpact of China’s export tax-rebate cancellation policy Anti-Dumping trading barriers between countries Development of industry （ Regional Comprehensive Economic ）） and CPTPPgreen energy （ Comprehensive
 Replace China’s steel export
after COVID-19 pandemic
Shortage on supply which may have chance
for price increase in the future
Overview
Market
Opportunity
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Data Source ： Yieh Phui Raw Materials Import & Market Research Office

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• Market Overview

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1
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- 2.7 / Non-EU/US market (2/2) Vietnam

27
• Market Overvie




Non-EU/US market2/2-Vietnam		 27
• Market Overvie




Non-EU/US market2/2-Vietnam		 27
• Market Overvie




Non-EU/US market2/2-Vietnam
. /
H.C.M. city
Total Vietnam
Cap./year
(mt)
Coated
Product
7.59M mt
Prepainted
Product
2.6M mt
Manufacturer
Coated
Prepainted
Hoa Sen
2,530,000 810,000
Nam Kim
1,000,000 180,000
Tôn Đông Á
760,000 240,000
TVP
600,000 140,000
Tôn Phương Nam
250,000 140,000
Tôn Hòa Phát
400,000 120,000
Maruichi Sun Steel
250,000
-
CSVC
200,000
-
Chính Đại
150,000
-
Perstima VN
130,000
-
NS Blue Scope VN
- 150,000
Tôn Tân Phước
Khanh
150,000 100,000
VN Steel Thăng Long 100,000 50,000
Đại Thiên Lộc
390,000 130,000
Vina One
400,000 150,000
POMINA
200,000 100,000
Donaton
80,000
-
SY STEEL VINA
- 150,000
TOP PRO (SINO)
250,000 150,000
HR/CR SUPPLY SOURCES

Excessive coating capacity , low
utilization rate (about 65%)

Low price strategy will impact
commercial steel price in SEA, US, and
EU market!

The future HR importing cost will raise
due to the New China exporting policy.

The world's logistics are disorderly, and
capital turnover under pressure,
affecting stability of production and
sales.
Supplier
Sources
Domestic Formosa
Hoa Phat
Import
China
Taiwan
India
Russia
Turkey
Domestic
40%
Import
60%
2020 ratio for
HR supply
2020 120M mt
HR supply
(VN made & imported)
in Vietnam
Dt S：Yih Phi R Mtil It & Mkt Rh Of
()
a new potential competitor
Total Vietnam
Cap./year
(mt)		 Coated
Product
7.59M mt		 Prepainted
Product
2.6M mt
Manufacturer Coated Prepainted
1 Hoa Sen 2,530,000 810,000
2 Nam Kim 1,000,000 180,000
3 Tôn Đông Á 760,000 240,000
4 TVP 600,000 140,000
5 Tôn Phương Nam 250,000 140,000
6 Tôn Hòa Phát 400,000 120,000
7 Maruichi Sun Steel 250,000 -
8 CSVC 200,000 -
9 Chính Đại 150,000 -
10 Perstima VN 130,000 -
NS Blue Scope VN - 150,000
11
Tôn Tân Phước
Khanh		 150,000 100,000
12
13 VN Steel Thăng Long 100,000 50,000
14 Đại Thiên Lộc 390,000 130,000
15 Vina One 400,000 150,000
16 POMINA 200,000 100,000
17 Donaton 80,000 -
18 SY STEEL VINA - 150,000
19 TOP PRO (SINO) 250,000 150,000

Data Source ： Yieh Phui Raw Materials Import & Market Research Office

Source: South East Asia Iron And Steel Institute

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• Market Overview

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1
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Conclusion:

2.8 / Steel in short supply and high steel prices

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3
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  • 1 Supply chain reorganized 2 Quantification (QE) policy under the scheme of the and inflation! US-China trade war!

  • 3 Carbon Neutrality: Increasing the Cost of Steel Plants!

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----- Start of picture text -----

GDP USD16 trillion GDP USD21trillion • Raw material costs increase • Supply-side reform
• Logistics costs skyrocketed •• Carbon fee, carbon tax Production equipment
rectification
LME daily price trend of Zn and Al • Renewable energy,
ₓ World factory  Upstream of supply 3,250 afforestation
chain technology 鋁Al
ₓ Red supply R&D status 鋅Zn
chain  U.S. dollar 2,750
hegemony
Emission reduction, carbon
OBOR & USA Team & 2,250 sequestration, negative carbon
RMB globalization Strategic blocking emission→ Steel plant costs
increase
1,750
independent Develop Develop a new supply chain 1,250
upstream (Taiwan---)
and local brands technology R&D i/o red supply Steel price stays high
chain
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4 China and Russia increase taxes on steel to curb exports!

  • Reorganization of the steel international trade order
2020
Ranking
1
2
3
4		 2020
Ranking
1
2
3
4		 Ranking of major steel
trading countries
Country
Q’ty (million mt)
China
51.4
Russia
31.5
Japan
29.8
S. Korea
27.6
5
6		 EU(28)
22.6
Germany
21.2
  • 5 Steel mill: Price based on quantity, increase profit by quality (value)!

U.S. steel industry benefited from soaring steel prices

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----- Start of picture text -----

美國熱軋價格(左軸) US HR price (left axis)
100.00 US Steel股價 Share price of US steel
of ArcelorMittal ArcelorMittal股價
80.00 Nucor股價 of Nucor
of SDI SDI股價
60.00
40.00
20.00
0.00
----- End of picture text -----

  • 6 Existing and emerging steel demand is rising!

  • 7 After the epidemic in 8 Epidemic, extreme major economies, Revitalize the new climate lead to shortage economy plan! of raw materials!

  • 9 Protect environment, protect tree from falling!

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----- Start of picture text -----

• Vigorously promote
Cars, Home appliances,
shipbuilding, construction, infrastructure that requires steel •• Balance inflation and
electronic communications,
machinery, machine tools, increase employment
industrial packaging,
containers Other
Railways Highways infrastructure
New energy automobile
industry chain (charging
piles), new energy industry 15
chain (photoelectric, wind GDP growth forecast for major economies
power, energy storage 10
cabinets, cable trays), cold
chain logistics, 5G cloud... 5
Estimated 0
photoelectric demand for 1,353,498 -5 2020 2021(f) 2022(f)
bracket steel in
Taiwan from mt
2021 to 2025 -10 美國 US 中國 China 歐元區 Europe Japan 日本 印度 India
Existing industry
industry
Emerging
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Forest fires and extensive deforestation ：

  • Lock down city/ country

  • infrastructure that requires steel •• Balance inflation and

  • Longer dry season

  • Natural disasters

  • • Power outage • Cut off production • Tight shipping

  • Ecological threat

  • Economic loss of agricultural harvest

  • Worrying human health

  • • Accelerating climate change

Shortage of raw materials & price hiking

price hiking Cherish the earth, green consciousness; switch to recyclable steel; Steel in short more environmentally supply friendly is also a trend!

  • 10 Developing and undeveloped national political commotion!

The epidemic hits the world More victims in developing countries

  • Economic trouble

  • Health system strained

  • Increasing income inequality

  • Social unrest

  • Frequent protests

Indonesia and Chile hit by the epidemic. Prices of nickel and copper is not easy to cut!

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 Business model

(150MW)144MW ground-type Solar photovoltaic case in Qigu Dist., Tainan Adopt YP’s PhuizerMax formed brackets

  • Key partner

  • Key activities

  • Value

propositions

  • Customer

relationship

  • Channels

  • Cost structure

  • Revenue

streams

Continuous Profitable 3 Business Model

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• Business Model

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Yieh Phui Continuous Profitable 3.1 / Business Model

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1
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3
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1/KP

Key Partners

  • Optimize Supply Chain Management

  • Stable supply of main raw materials:

  • China Steel Corp.

  • Sources of overseas CR raw materials

  • Related material sources:

  • Suppliers of Zn and Al ingots

  • Suppliers of paints & surface treatment

  • Suppliers of protective film/packaging material

  • Downstream foundries

  • Slitting/cutting sheet processors

  • • Roll-formers

  • Long-term logistics partners

  • Vehicle transportation

  • • Shipping company & agency

  • • Customs brokers

2/KA

Key Activities

Strive for ‘Award for World-class TPM Achievement’

  • A number of quality certifications

  • CSR

Pass Hazardous Invest in greenhouse materials: 28.98 million gas emission 216 items environmental verification under control protection cost

3/KR

Key

Resources

  • Comprehensive group strength and resources

  • High professionalism in the industry

  • Product differentiation

  • Flexible capital scheduling for listed companies

4/VP Value

Propositions

Achieve the best steel maker and service provider in the world by 2021

Health Safety Green

  • Applications of Efficient PhuizerGreen[®] & ColorGreen AMC Plus[®]

PhuizerGreen[® ] ColorGreen AMC Plus AMC Plus[® ]

  • Suitable corrosionresistant steel countermeasures!

  • Build MIT solar bracket for photovoltaic power

(metallic coated) (color coated) PhuizerMax SolarKing

6/CR Customer

Relationship

Deepen pre-sales/ after-sales service

  • 2020 customer satisfaction: 93.59 points

  • 2021 customer repurchase rate: 69%

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Numbers of all customers 280 外銷客戶數
and repurchase rate 230 216 245 內銷客戶數 237
202 202
180130 61% 80 171 194 69% 153 60% 154 70% 184 138 68% 183 136 67% 180 135 66% 181 142 67% 181 144 69% 67% 185
30 45 51 49 48 46 47 45 39 37 52
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7/CH Channels

Global layout

  • Europe 30.6% U.S. 23.3% Asia 8.2% Taiwan 34.6% Australia 2.6%  Diversified domestic and foreign sales channels

  • Full capacity planning

5/CS Customer Segment

Traditional and innovative products go together

  • Traditional customer base:

  • Architecture,

  • • engineering Automobile, transportation, machinery

  • 3C electronics, home appliances

  • New customers ： • Electric vehicle related supply chain

  • • New energy industry chain

  • 5G high-speed

  • network industry

  • Photovoltaic power industry • System bracket

  • PhuizerGreen & ColorGreen AVC & AMC Plus

  • High-end building materials

  • Commercial/High-

  • • efficiency Super effect

 HR/CR steel coils

8/C$ Cost

 Zn/Al ingots

 Paints, protective films

Structure

Committed to  Process improvement reduce costs  Exchange rate

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||||||
|---|---|---|---|---|
||
||Proportional allocation|
|High-yield market:|
|9/R$|•|Domestic: prepainted steel|of domestic and foreign|
|and SolorKing|sales|
|Revenue|•|Export: Highly profitable||Best profit product and|
|European and US markets|
||Long-term layout strategy|Market mix|Domestic sales|
|Streams|sales:|
|Best Combination of domestic and foreign|••|Blue Ocean Products, Market Electric vehicles, new|domestic and Proportion of|190,000mt 34.6%|
|markets and product profit|energy industry|foreign sales|Foreign sales|
|in H1, 2021|65.4%|
|360,000mt|

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• Business Model

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Yieh Phui Continuous Profitable 3.2 / Business Model-KP

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1
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2 6

1 5 Key
3 [4 ] 7
Partners
8 9
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Optimize SCMLong Term Purchasing Strategy for HR/CR

YP Material Sourcing (%)

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CSC
CSC
CH
Group
85%
15%
CL
Advantage
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  • Stable supply

YUSCO, owning stainless electric furnace (capacity 1 mil. tons/year), can also produce carbon steel providing to SY now. In further, it can provide YP more competitive price & specific steel grades.

  • Full specific

  • Stable quality

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Japan
Korea
HR
Import Russia
Material India
CR China
Aim to low down
cost
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In 2021, the market supply and demand is uneven, and CSC can only maintain the previous supply, so YP imports from abroad to maintain operations.Reduce average cost →The market layout is wide, stable and deep

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Yieh Phui Continuous Profitable 3.1 / Business Model-KA

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• Business Model

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2 6  Key Activities
1 5
3 [4 ] 7
TPM
CSR
8 9 Japan
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Strive for ‘Award for World-class

  • The TPM (Total Productive Maintenance) management activity was established by JIPM (Japan Institute of Plant Maintenance). It is a comprehensive production maintenance management activity. Yieh Phui is the first Taiwanese steel company to implement TPM management activity centered on equipment.

TPM

Achievement’

CSR

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Achieve the best steel maker and service provider
in the world by 2021
1 2 3 4 5 6 7 8 9
9 Pillars of YP TPM Management Activities
Equipment
Individual development
improvement Autonomous maintenance Plan maintenance Quality maintenance product development Indirect divisions Talent Education Safety, health and
environmental protection
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Advanced Special Award for World-
Award for
Award for TPM Special Award for Award for TPM class TPM
Excellence in
Excellence TPM Achievement Achievement (TPM Achievement
Consistent TPM
top 2 award) (TPM top 1 award)
under
Acquired in Nov. Acquired in Dec. Acquired in March Acquired in Jan.
application in
2001 2004 2010 2016
2021
The second steel
company in the
world to challenge
The second steel
company in the the award
world to get
the award
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Corporate Social Responsibility (CSR)

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 Operating revenue in
2020: NTD 55.422 billion
 The 7 [th] Corporate
governance evaluation
in 2020: top 21%~35%
Violated
CSR report monopoly
third-party Regulations
certification 0 case
Involved in Outstanding
corruption importer/ exporter 2020
0 case Top 500
Environment
Corporate Governance
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  • In 2020, YP gainedDevelop internalISO 14001 Environmental successors/key talent pool management systems

  • ISO 50001 energy management "Steel Elite Project" systemsConstructed an industrial

  • Greenhouse Gas Emission safety dojo and 97.9% Verification Statement completed inconsistent

  • Category 1: 62,047mt CO2 e/yr. (imperfect) point Category 2: 68,047mt CO2 e/yr. improvement

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 Greenhouse Gas Emission safety dojo and 97.9%
Verification Statement
completed inconsistent
Category 1: 62,047mt CO2 e/yr. (imperfect) point
Category 2: 68,047mt CO2 e/yr. improvement
Pass Coated steel products Awarded Invest in
greenhouse gas 216 items TTQS, Gold employee care
verification emission substance control of hazardous by Ministry of Labor NTD12.41 million resources
Invest in Four insurances
YP donated
NTD 28.98million Energy saving 2020 for employees up to to society
to protect 12,918GJ NTD10.2 NTD1.52 million
environment million/person
Society
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Yieh Phui Continuous Profitable 3.4 / Business Model-VP (1/3)

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• Business Model

Based on ISO9223  Coated steel for solar Category of corrosive  Value panel brackets environment 2 6 1 5 PropositionsBuild MIT solar (metallic coated) (color coated) 3[4 ] 7 PhuizerMax SolarKing Health Safety Green bracket for 8 9 Suitable Suitable photovoltaic power for C1~C3 for C1~CX 2012-2021 Fishery YP’s cumulative global sales Largest 2020 & Electricity 2021 SolarKing 2021 of steel for solar panel Useful Domes Symbiosis brackets SolarKing 2.3 mm Life 20 yrs tic ~~Asia (~~ mt) applica Europe Pacific & US charact The only pre-painted The world's thickest The pre-painted tion Australia eristics bracket in the world pre-painted steel highest CP value bracket with references 七股 144MW 義竹 44MW 佳冬 12MW 40,410 92,271 520 (Optimal for Taiwan's harsh environment) (Ground/fishery and electricity symbiosis type) (Ultra-corrosion resistant steel for harsh environments) 309MW 20,529 mt 133,201mt 2019~2021

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Future steel demand for solar panel brackets continues to be strong

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 Gov't implements 1. Taiwan’s energy ratio in 2025 2. Major power users clause implemented in Taiwan 3. Estimated steel demand for solar
green energy policy (photovoltaic power 20GW) in 2021 (due on 2025/12/31) panel brackets during 2021~2025
 The law requires green energy As of 2020, Taiwan's actual photovoltaic device capacity has
 obligations RE100 requires Taiwanese factory supply chain to supply green energy. From 2021 to 2025, the amount of steel used in green energy other gas coal green energy gas coal other 23% Wind power 5.73GW 11% Other 39.6% Solar power Ground-type 12GW 26.4% Solar power Rooftop-type 8GW  ≧ Over 300 enterprises Contract 2021 5,000KW only reached 2025, 20GW, there is still installation demand of 14.18GW )  5.82GW Early bird discount Complete in 3 years Completed 2023 (Before reaching the standard of  Early bird discount Complete in 4 years Completed 2024  Compulsory obligation contract capacity 2025 2026 Obligation period rooftop ground 5-year Avg. total 1,237,464 1,353,498 116,034 ( mt)
Taiwan's solar panel brackets capacity10% capacity 8% capacity 9% 10% 270,700 mt
will be up to 1.35 million mt! 3. 2020~2025 Estimated volume of
1. RE100 & EP100 2. Global photovoltaic installations
 Global green energy wave: RE100, EP100 in 2020 (GW) global photovoltaic installations 250(GW) 10~12%/yr 222.175  Based in Taiwan,
 Carbon neutral issue 199.775 embracing the
fermentation The total use of steel for 200 global market
139.95 [153.8 164.65 181.225 ] (Solar Bracket
Carbon rights/green solar panel estimated brackets worldwide 150 National Team)
energy is the antidote in 2020 is to be
 From 2021 to 2025, 6.7 million mt. 100 Estimated annual growth Our Vision:
As of July 2021, a total of 323 of 10~12% IEA (Int’l Energy
global photovoltaic installations will grow companies worldwide have joined RE100.  2020 The world's top five and Taiwan's optoelectronic settings 50 Agency) Build MIT solar bracket
by 10-12% every year RE100: use 100% RE by 2050 CN US JP DE India TW Total 0 for photovoltaic power
Source: IEA & major websites EP100: 2 times of energy productivity by 2030 49.26 14.89 5.47 4.73 4.12 1.67 140 2020 2021f 2022f 2023f 2024f 2025f
Taiwan
Global
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1
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• 3.4 / Continuous Profitable Business Model (2/3)

• Business Model

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 Value AMC PLUS  PhuizerGreen AMC Plus & ColorGreen AMC Plus
2 6
1 5 Propositions  Application of PhuizerGreen AMC Plus ColorGreen AMC Plus
3 [4 ] 7
Health Safety Green AMC PLUS
8 9
Ducts Partition
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2018-2021 Yieh Phui Global Sales in AMC PLUS Product

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AMC-PLUS
99.99 %
Product Cases
Features (Galvanized Steel) Approved Anti-microbial Compliant to the E Sky Land Woodlands Medical SKY CITY
(Taiwan) Centre(Singapore) (Hong Kong)
Rate from the third party EU ROHS regulation
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~~(m~~ t) U.S.A Asian-Pacific (2021.Jan~Aug) 30,193 4,335

Total 34,528 mt

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Post-Covid-19, the demand of AMC PLUS product increased

ColorGreen AMC PLUS, The Star Product after Covid-19

1. Correspondence from Taiwan

  • Environment Protection Administration Announced Centers of Diseases Control(2009/9/26) Indoor Air Quality management Recipient: Act Local Department of

  • Guidelines & Correspondence Health

  • Exclusive: Anti-Viral Pre-painted Steel

  • Evaluation Institute ：

BOKEN QUALITY, Osaka Japan

  • Guidelines & Correspondence Health of Environment cleanliness Subject:

  • infection Control Measures from Taiwan Centers of Using Anti-microbial Disease Control products as the first priority in hermetic place.

Virus Type Evaluation ( Activity value *) ： Influenza A virus subtype H3N2

  • (Activity value 2.4)

Feline Calicivirus (Activity value 2.0)

  • After Covid, The demand of Anti-microbial and Anti-virus Product increased.

Document No.:1080133228

*Note: activity value > 2.0, anti-viral effect guaranteed

(Boken test report)

1. IAQ Guidelines

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2. 2019-Aug, 2021 Yieh Phui Global Sales
of AMC PLUS Product
(mt)
Demand of AMC PLUS 14,767
Product in USA Increased USA
After Covid-19 142% 4,335
6,412 6,113
Data source: WHO and
(WHO) (United States) (Hong Kong) 2019 2020 2021/1~8 Other related website
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 IAQ(Indoor Air Quality) Guidelines has been announced by WHO and other countries for many

years

 After Covid, The demand of AMC PLUS product increased a lot in U.S.A  In 2021(Jan – Aug), Yieh Phui’s sales volume increased 142% compared with 2020.

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Yieh Phui Continuous Profitable 3.4 / Business Model-VP (3/3)

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 Value
2 6 
1 5 Propositions
3 [4 ] 7
Health Safety Green
8 9
C1
C4
Very ---
High
ISO9223 Low
C5
Atmospheric C2 Low-polluted atmosphere
Corrosion Very
Low (Rural)
High
C3 Medium SO2 & CX
low salt-content area Extra
Medium
(Urban & Industrial)
High
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Categorizing construction material for C4~CX highly corrosive environment

Medium salt-content area (Coast & Industrial)

High humidity & corrosive atmosphere industrial area, High salt-content coastal area.

High salt-content offshore area, Extra high humidity & corrosive atmosphere industrial area and ISO classification diagram of zinc corrosion rate, 2020 Subtropical and tropical atmosphere.

Source: Institute of Transportation , MOTC

Pioneered environmental steel choiceSuitable material for suitable use & placeYieh Phui & Yusco: Joined forces

C4
High
Corrosive		 Coating
mass/
SUS
class
Top surface
paint &
thickness
(μm)
Top surface
paint &
thickness
(μm)		 Back surface
paint &
thickness
(μm)		 Back surface
paint &
thickness
(μm)		 *Est.
durability		 C5
Very High
Corrosive		 Coating
mass/
SUS
class
Top surface
paint &
thickness
(μm)
Top surface
paint &
thickness
(μm)		 Back surface
paint &
thickness
(μm)		 Back surface
paint &
thickness
(μm)
*Est.
durability		 CX
Extra High
Corrosive		 Coating
mass/
SUS
class		 Top surface
paint &
thickness
(μm)		 Back surface
paint &
thickness
(μm)
*Est.
durability
Commercial ≧Y30 /
AZ150
PVDF		 45 PVDF 25 15 Commercial ≧Y35 /
AZ210
PVDF		 65 PVDF 30 15 Efficient ≧Y40 /
AZ250		 Due to the special
environment,
consultation
recommended.
Efficient
PVDF		 65 PVDF 30 20 Efficient
PVDF		 65 PVDF 45 20
PVC 200 PVC 100
20		 Highly
Efficient		 SUS
445
Highly
Efficient		 SUS
445		 Crystallite
Silky		 32 Crystallite
Silky
32		 25 Highly
Efficient		 SUS
445		 Crystallite
Silky
32		 Crystallite
Silky
32		 20
PVDF 45 PVDF 25 30 PVDF 65 PVDF 30 30

*Remarks ： Recommended durability(without drilling)

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Yieh Phui Continuous Profitable 3.5 / Business Model-CR

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2 6  Customer
1 5
3 [4 ] 7 Relationship
8 9
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 To Become the Best Steel Marker and Service Provider in the World by 2021

Annual Trends of customer Satisfaction (%)

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Number of Domestic & Export customers and the 100
repurchase rate 95 92.9 93.3 94.4 93.6
外銷客戶數 Exp. customer 內銷客戶數 Dom. customer 重購率 Repurchase Rate 回 91.0 92.1 94.5
245 94.3
89.0 92.4
216 237 90 92.2
90.4 90.0
202 202 74% 85
184 183 180 181 181
80
69%
70% 67% 69% 69%
68% 66% 67% Entrust School of Management of I-shou University to conduct
185 annual customer satisfaction survey
171 194 153 154 67%
138 136 144 64% Customer Size Monthly Order(mt) Percentage
142
135
61% Large Q ≧ 2,000 4%
60%
59% Medium 500 ≦ Q < 2,000 8%
45 51 49 48 46 47 45 39 37 52
Small 100 ≦ Q < 500 22%
54%
Very small Q < 100 66%
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-20

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Yieh Phui Continuous Profitable 3.6 / Business Model-CH

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2 6  Channels
1 5
3 [4 ] 7
8 9
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 Global distribution, Tariff Barriers to Trade YiehPhui has responded to AD & Safeguard in 60 countries

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137 Countries Worldwide USA
EU AD & Canada Australia Malaysia
Safeguard Section AD AD AD
Oceania 232
3%
South
Asia Reaction India AD Tariff & Trade Barriers Africa
8% Safeguard
Middle New
Vietnam Argentina Thailand
East Zealand
AD AD AD
Taiwan Safeguard AD
35%
Americas
Measures
23%
 Have a professional organization and anti-dumping lawyer team to
facing all trade barriers and challenges.
 Under the EU's Safeguards in March 2018, on behalf of Taiwan, Yieh
Phui has got the largest number in global quota for coated steel and
national quota for pre-painted steel products.
 United States launched anti-dumping investigation for anti-corrosion
products in 2015. Yieh Phui got initial AD rate 10.34% but earned the
Europe lowest preliminary AD rate 1.97% of Taiwan in the fourth AD review in
31% this year with the efforts of our team group.
 In March 2018, the United States launched Section 232 to impose a
25% tariff on global imported steel. When steel prices goes up, we still . When steel prices goes up, we still
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  • In March 2018, the United States launched Section 232 to impose a 25% tariff on global imported steel. When steel prices goes up, we still . When steel prices goes up, we still maintain our competitiveness and with the application for exemption products to continue our profit.

Global Market Share in 2021

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Yieh Phui Continuous Profitable 3.7 / Business Model-C$

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• Business Model

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2 6  Cost
1 5
3 [4 ] 7 Structure
8 9
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Intelligent system to reduce loss

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Under the rapid change and fierce competition of steel market, efficiency on offering becomes more and more important. With the improvement on cost review system, Yieh Phui is able to reduce loss and improve purchasing rate by monitoring market situation and steel demand.

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Cost Table Review Using Excel to Review Specialist to review System to review all
Costs costs costs
Pros: Saving time
Cons: Pros: Saving time Pros: Cost thoroughly Pros:
1.Rough cost Cons: reviewed 1. Cost thoroughly
2.High incorrectness 1.Rough cost Cons: reviewed
2.Incorrectness 1.Time consuming 2. Saving time
reduced 2.Heavy load 3. Automatic reveiw
3.No cross checking 2. 人員負擔大 4.Cross checking system
system 3. 無法入單 between costs and order
檢核 details
Sales + Spec Sales + Specialist Cost
Sheet excel Review System
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Fill in the basic information of the inquiry, our system can automatically calculates the profit and contribution margin of an order ！

Product and Profitability

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20%
15% CG HG PP
10%
5%
0%
-5%
-10%
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Yieh Phui Continuous Profitable 3.8 / Business Model-R$

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2 6  Niche product to increase sales and improve profit.
1 5  Revenue
3 [4 ] 7 Product of high quality, high industrial efficiency, and
Stream
high value-added.
8 9
120,000 利基產品銷售量 Niche product sales
一般產品銷售量 General product sales
100,000 97,870 銷售佔比 Sales ratio 95,715 94,880 94,923
84,035 81,291 73,300 16,412 85,136 16,958 22,511 18,458
80,000 14,624 29% 77,187 78,159 77,683 74,720 18,908
19,423 19,346 26% 68,846 63,502 65,344 69,387 14,676 [ 14,926 ] 68,945 16,175 14,727 24%
60,000 24% 54,235 53,826 15,109 15,307 14,543 14,293 14,598 21% 22%
40,000 17% 26% 15,468 14,196 22% 24% 22% 21% 19% 19% 21% 17% 20% 78,757 18% 76,465 19%
69,411 61,868 62,510 63,233 61,508 59,993 66,228 72,368
53,955 53,736 48,196 50,801 55,094 54,347 [ 81,458 ]
20,000 38,767 39,630
-
Jan-20 Feb-20 Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21 Jul-21
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Hot-dip Galvanized Steel

  • Solar Bracket (PhuizerMax)

YP

  • Main end use of  Duct (RoHS & Antimicrobial) niche product  Automobile Alliance Parts

  • Automatic Agricultural Facilities

Pre-painted Steel

  • Solar Bracket (SolarKing)  Electrical Appliance

  • Antimicrobial Product  Building Materials

  • Crystallite Silky

  • High-end Construction Project

  • Door Panel for US Market

  • Building Materials

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･ ･ Yieh Phui Enterprise Qiaotou Works Kaohsiung City

4 Future Development

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• Future Development

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4.1 / Future Development

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4
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Persistence in being an excellent steel supplier as the original intention (Origin), leading to High, Wide and Deep business deployment in global marketing.

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H
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H igh
GREEN HEALTH SAFETY
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 High added value product
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  • SolarKing – Bracket for solar photovoltaic power

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solar photovoltaic power
 High efficiency Anti-
O rigin W ide
Microbial steel product
 High-end building material
MATERIAL SPECIALIZATION GROUP solution PLACE PRODUCT PRODUCTIVITY
O  Optimizations for raw  Two bases of production
material supply chain in YPE and YPC
 30 Years Specialized  One-Stop service for
and Experienced in D eep galvanizing & color
galvanizing & color coating products
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contract
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W
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30 yrs
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  • 30 Years Specialized and Experienced in galvanizing & color coating productions

  • Worldwide sales channel

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 E-United Group’s SERVICE MANAGEMENT VALUE
comprehensive
strength  YPS 5.0 (Best Service)
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  • & Global customers

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3
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  • Flexible business deployment in global market

  • Enhancement of TPM management level

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2
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  • Increase of the customer’s satisfaction

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  • Future development in 2021

1

Achieve the best steel maker and service provider in the world by 2021

D

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• Future Development

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4.2 / Future Development

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Adjusting Products to Expand Niche Market

Top 6 Niche Products

Product of high quality, high industrial efficiency, and high value-added.

Steel Use in Traditional Industry Steel Use in Emerging Industry Pre-painted coils Crystallite silky Pre-painted coils PhuizerGreen AMC+ 5%Al-Mg-Zn Pre-painted coils for building Pre-painted coils for roof tiles ColorGreen AMC+ Metallic Coated / for appliances (Anti-Virus) Prepainted Steel Construction Project Roofing/Siding Roofing/Siding Ventilation System Home Appliances SolarKing Brackets

Annual Sales Volume of YP Niche Products (mt)

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300,000 268,654 [ 279,926 ] 266,361 14%
242,499 Total 27 Niche Products in 2020
250,000
216,081 212,825
187,975 186,509
200,000
150,000 The sales volume of niche
100,000 Sales Volume products is expected to
50,000 up to1.64million mt continuously expand in 2021 ！
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2014 2015 2016 2017 2018 2019 2020 2021f
2021/8/30 Fubon Investment Forum, Q3 2021 P.41/43
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• Future Development

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4.3 / Future Development

Global network with a sales channel advantage will bring us a flourish steel business.

Source: WSA SRO, 2021/04/15

World Steel Association steel demand forecast

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 World Steel Association steel demand forecast
Output (million tonnes) y-o-y growth rate (%)
Region/Country
2020 2021f 2022f 2020 2021f 2022f
World 1,771.8 1,874.0 1,924.6 -0.2 5.8 2.7
Asia 1,296.6 1,357.8 1,385.1 3.6 4.7 2.0
US+EU China CInhindiaa 995.0 1 88.5 106.1 112.3 ,024.9 1,035.1 -13.7 9.1 19.8 3.0 1.0 5.9
ASEAN(5) * 68.7 73.0 77.7 -11.9 6.2 6.5
Japan 52.6 56.0 58.8 -16.8 6.5 5.0
Taiwan Others EU 27+UK 140.6 154.9 162.4 -11.4 10.2 4.8
North America 114.0 122.6 128.3 -15.7 7.6 4.6
USA 80.0 86.5 90.2 -18.0 8.1 4.3
Middle East 46.0 48.5 50.1 -8.6 5.4 3.3
Russia 42.5 43.8 45.1 -2.3 3.0 3.0
Central and
38.6 42.7 44.5 -7.9 10.6 4.2
South America
Africa 35.6 38.6 40.9 -9.4 8.3 5.9
Future Development ASEAN (5): Indonesia, Malaysia, Philippines, Thailand, and Vietnam
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Cost ManagementNiche Product DevelopmentMarket AdjustmentUS, EU Market Maintain

Upstream mills supports qualified raw materials, downstream mill (Yieh Phui) provides diversify products to global markets.

Fubon Investment Forum, Q3 2021 

2021/8/30

P.42/43

200MW Solar photovoltaic case in Mailiao, Yunlin County

Adopt YP’s PhuizerMax formed brackets

Stock code: 2023

Thank you!

Fubon Investment Forum, Q3 2021 

2021/8/30

P.43/43

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