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Zig Sheng Industrial Co., Ltd. Interim / Quarterly Report 2021

Dec 13, 2021

51816_rns_2021-12-13_4a724fd2-daa8-4e67-bf23-25b1f3942b65.pdf

Interim / Quarterly Report

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Since 1969

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Ticker: 1455 TT

DEC 13, 2021

INNOVATION / SPECIAL / FUNCTION / INTEGRATION / ENVIRONMENT

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COMPANY PROFILE

www.zigsheng.com

  • 1969 Company established & DTY 1[st] plant start up

  • 1992 DTY 2[nd] plant start up

  • 1993 Listed on the Taiwan stock exchange

10 PRODUCTION PLANTS

FIBER BUSINESS DIVISION

  • 1997 ISO-9001 certified

  • 1997 DTY 3[rd] plant start up

  • 2000 Nylon spinning 1[st] plant start up

  • 2001 Nylon polymerization 1[st] plant start up

  • 2004 “Innovative R&D center” founded.

  • 2006 Nylon polymerization 2[nd] plant start up

  • 2006 Compounding plant start up2007 OHSAS-18000 certified

  • 2010 IATF 16949 certified

  • 2012 ATY plant, nylon spinning 2[nd] plant start up2013 Nylon polymerization 3[rd ] plant start up2014 ISO 14001 certified2015 GRS certified2017 Published 2016 CSR report2018 Established 878KW solar power plant2020 New polyester spinning production line start up2021 New polyester recycling granulation plant start up

3 DTY Plants

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DTY Plant Ⅰ DTY Plant Ⅱ DTY Plant Ⅲ
1969 1992 1997
2 Spinning Plants 1 ATY Plant
Spinning Plant Ⅰ Spinning Plant Ⅱ ATY Plant 2012
2000 2012
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CHEMICAL MATERIALS DIVISION

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3 Nylon Polymerization Plants,
1 Engineering Plastic Plant
Nylon Polymerization Nylon Polymerization Nylon Polymerization
Plant Ⅰ ,2001 Plant Ⅱ , 2006 Plant Ⅲ ,2013
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2021 Zig Sheng Industrial Co., Ltd. Investor Conference

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MAIN PRODUCTS

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Polyester Products Nylon Products
5 Polyester Filament Vertical 1 Nylon Chip
Integration 2
6 Polyester DTY/ATY Engineering Plastic
3
7 Recycled Polyester Chip Nylon Filament
4 Nylon DTY/ATY
Bottle Flake PTA , EG CPL
7 1
再生聚酯粒 尼龍粒
Polyester
Recycled Nylon Chip
Chip
Polyester Chip
5 聚酯原絲 3 尼龍原絲 2 工程塑料
Polyester Nylon Engineering
Filament Filament Plastics
6 聚酯加工絲 4 尼龍加工絲
Polyester Nylon
DTY/ATY DTY/ATY
Sale Products
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2021 Zig Sheng Industrial Co., Ltd. Investor Conference

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PRODUCT ANNUAL PRODUCTION CAPACITY

Nylon Chip 163,800 Mt

DTY / ATY 49,800 Mt

Nylon Filament

36,000 Mt

Engineering Plastic

10,200 Mt

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SALES BREAKDOWN BY PRODUCTS 2021 Q1-Q3

Turnover : USD 288,900,000 (NTD 8.1 bn)

FX：28.041 Chemical Materials Division

Fiber Division

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DTY / ATY

Domestic 93.0％ Export

  • Southeast Asia 2.2% 7.2 ％ - Middle East 1.3% - China 1.0% 31.6 ％ 33.9 ％ [ 7.9][％] - Others 2.5% 41.6 ％ 45.7 ％ 16.4 ％ Filament Domestic 78.0％ Export - Central Asia 9.3% Others

  • Southeast Asia 7.4% 0.5%

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  • China 3.0%

  • Others 2.3%

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Engineering Plastic

Domestic 46.2％ Export

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  • Southeast Asia 20.4%

  • China 14.6% - Africa 8.8%

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  • Others 10.0%

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Nylon Chip

Domestic 28.3％ Export

  • Northeast Asia 27.2%

  • Southeast Asia 22.5%

  • China 5.5%

  • Others 16.5%

2021 Zig Sheng Industrial Co., Ltd. Investor Conference 5

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PRODUCT SALES BREAKDOWN

PRODUCT SALES BREAKDOWN
Item
2021
2021
2020
2020
Q1-Q3
H1
Tot
Q1-Q3
Amount
%
Amount
%
Amount
%
Amount
%
Nylon Chip
3,703
45.7
2,342
45.9
3,124
40.7
2,243
41.6
DTY / ATY
2,554
31.5
1,589
31.1
2,591
33.8
1,829
33.9
Filament
1,217
15.0
764
15.0
1,312
17.1
886
16.4
Engineering
Plastic
581
7.2
385
7.5
613
8.0
426
7.9
Others
42
0.5
27
0.5
36
0.4
13
0.2
Tot
8,097
100
5,107
100
7,676
100
5,397
100
Unit： NTD million
2021 Zig Sheng Industrial Co., Ltd. Investor Conference 6

2021 Zig Sheng Industrial Co., Ltd. Investor Conference 6

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INCOME STATEMENTS

INCOME STATEMENTS
Unit : NTD million
Item
2021
2021
2020
2020
Q1-Q3
H1
Tot
Q1-Q3
Amount
%
Amount
%
Amount
%
Amount
%
Operating Revenue
8,097
100
5,107
100
7,675
100
5,397
100
Gross Profit
1,034
12.8
749
14.7
84
1.1
(177)
(3.3)
Operating Expenses
415
5.1
291
5.7
364
4.7
263
4.9
Operating Profit
619
7.6
458
9.0
(279)
(3.6)
(440)
(8.2)
Non-operating Income &
Expenses
302
3.7
516
10.1
244
3.2
109
2.0
Profit Before Income Tax
921
11.4
974
19.1
(34)
(0.4)
(331)
(6.1)
Tax (Exp) Gain
(79)
(1.0)
(50)
(1.0)
(5)
(0.1)
4
-
Profit after Income Tax
842
10.4
924
18.1
(40)
(0.5)
(327)
(6.1)
EPS ( NTD )
$ 1.58
$ 1.74
($ 0.07)
($ 0.56)
2021 Zig Sheng Industrial Co., Ltd. Investor Conference 7

2021 Zig Sheng Industrial Co., Ltd. Investor Conference 7

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FINANCIAL INDEX

Unit : NTD million

Item 2021 Q3 2020 2019 2018 2017
Receivables 14.07 12.43 11.70 23.64 24.92
Inventory 23.57 10.82 16.42 24.15 25.05
Fixed assets 47.73 47.36 47.47 48.57 55.26
Total assets 107.46 89.27 96.19 114.58 121.19
Long short-term loans 20.20 11.60 11.84 21.39 21.29
Capital 53.17 55.00 61.18 61.18 61.18
Liabilities ratio 32.6% 26.9% 25.1% 33.6% 35.9%
Current ratio 152.8% 147.7% 167.4% 156.1% 144.3%
Book value per share (NTD) 13.6 12.3 11.8 12.4 12.7

2021 Zig Sheng Industrial Co., Ltd. Investor Conference 8

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FUTURE PROSPECT

N lon Products y

  1. Nylon Chip

• In 2021, we have optimized and consolidated polymerization production lines and product portfolio. Productivity increase and cost reduction resulted in profit gains.

  • Maintain Strict control of raw material and finished inventory to reduce inventory valuation risk.

  • Future CPL prices should not fluctuate greatly. With stable customers, profitability shall be able to maintain next year.

2021 Zig Sheng Industrial Co., Ltd. Investor Conference

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FUTURE PROSPECT

Nylon Products

2. Nylon Filament

  • With fully integrated production lines and without products of inferior profit performances, gross margin is expected to rise respectively in 2021.

  • Nylon Filament department is having positive forecast in 2022.

2021 Zig Sheng Industrial Co., Ltd. Investor Conference

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FUTURE PROSPECT

Nylon Products

3. Nylon DTY

Gross margin in 2021 is higher than previous year and expected to continue in 2022.

2021 Zig Sheng Industrial Co., Ltd. Investor Conference

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FUTURE PROSPECT

Nylon Products

4. Engineering Plastic

  • 2021 profitability gain driven by increased sales and unit price.

  • Next year, more focus will be on polyamide-66 portfolio optimization. Continued growth are expected.

2021 Zig Sheng Industrial Co., Ltd. Investor Conference

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FUTURE PROSPECT

Polyester Products

  • This year new polyester POY lines are in full production, achieving vertical integration advantage.

  • In 2022, two more new DTY lines will be installed in place to boost polyester DTY sales.

  • The new polyester recycling granulation plant completed in 2021 Q4. Its bottle recycled PET chips will fulfill customer’s increase demand of environmentally friendly products and year 2022 profitability.

2021 Zig Sheng Industrial Co., Ltd. Investor Conference

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2 0 2 2

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FUTURE PROSPECT

Conclusion

• The company's overall operating performance this year has improved significantly compared with previous years. Profit per share for the first three quarters reached NTD 1.58.

• The business operations next year can still be viewed with optimism. With the entire team's effort, there should be room for improvement.

2021 Zig Sheng Industrial Co., Ltd. Investor Conference

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PRODUCT THAT CONTAINS ZIG SHENG MATERIALS

  • FIBER DIVISION

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• CHEMICAL MATERIALS DIVISION

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2021 Zig Sheng Industrial Co., Ltd. Investor Conference

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THANKS

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INNOVATION / SPECIAL / FUNCTION / INTEGRATION / ENVIRONMENT

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