旺矽科技股份有限公司 6223.TT

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Presentation Disclaimer

The information herein contains forward-looking statements. We have based these forward-looking statements on our current expectations and projections about future events. Although we believe that these expectations and projections are reasonable, such forward-looking statements are inherently subject to risks, uncertainties and assumptions about us, including, among other things: the intensely competitive Semi-conductor, and LED industries and markets; Cyclical nature of the semiconductor industry; Risks associated with global business activities; General economic and political conditions. All financial figures discussed herein are prepared pursuant to IFRS. All audited figures will be publicly announced upon the completion of our audited process.

公司簡介

3

Founded July, 25, 1995

Paid-in Capital NTD$ 798M (2017.5.31-the latest )

Employees 1481 (2017.5.31)

1995 2001

MPI Corporation Founded

Photonics Automation Division Established

2003

MPI on Taiwan OTC

2014

Advanced Semiconductor Test (AST) Division Established

2015

Thermal Test Division Established

營業內容

4

70% 73%

68% 68%

18% 20%

25%

20%

3% 7% 7%

12%

0

200,000,000

400,000,000

600,000,000

800,000,000

1,000,000,000

1,200,000,000

1,400,000,000

1,600,000,000

1,800,000,000

0%

10%

20%

30%

40%

50%

60%

70%

80%

2016' Q2 2016' Q3 2016' Q4 2017'Q1

Probe Card LED New Business Unit Revenue

營收分布

5

NT$ MM

2017 Q1 Probe card Div.

2017 Q1 LED Equipment Div.

2017 Q1 42.9% 14.2% 25.3% 17.6% 100%

1,697

958 783

531

3,969

1876

801 581 530

3,788

2178

647 713 661

4,199

372

123 220 153

868

0

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

4,500

TAIWAN CHINA USA RoW Total

2014 2015 2016 2017 Q1

China 45% Malaysia

37%

Taiwan

13%

Europe 4%

Taiwan

52% USA

33%

Europe

1%

China

5%

Rest of

Asia

10%

Business Contents Semi-conductor (Probe Card)

Photonics Automation (LED)

Thermal & AST

Financial Statements

6

議程

半導體事業部 (探針卡)

7

全球探針卡市場概況

8

Probe Cards

Memory

Applications

Epoxy /CPC

Advanced P/C

Non-Memory

Applications

Blade/ Tungsten

$15.9m

Epoxy/Cantilever

$166m

Advanced Probe

Cards $660m

$1.37 bn in 2016 CAGR 6.2% 2016-2021

35%

65%

前十大探針卡供應商(2011-2016)

(Rank) 2011 2012 2013 2014 2015 2016

FormFactor, Inc. USA 2 2 1 1 1 1

Micronics Japan Co., Ltd. Japan 1 1 2 2 2 2

Technoprobe Italy 5 5 3 3 3 3

Japan Electronic Materials Japan 3 3 4 4 4 4

MPI Corporation Taiwan 8 7 5 5 5 5

SV TCL Singapore 10 11 10 9 7 6

Microfriend Korea 12 18 7 8 10 7

Korea Instrument Korea 6 8 9 6 9 8

Cascade Microtech USA 13 9 8 7 6 9

FEINMETALL Germany 14 12 11 11 11 10

9

CPC & VPC

CPC VPC

10

出貨產品結構及主要客戶

11

75%

86%

91%

94%

0% 20% 40% 60% 80% 100%

Top

05

Top

10

Top

15

Top

20

69.6%

64.5% 65.1%

67.8%

29.1%

34.7% 33.9% 31.7%

1.3% 0.8% 1.0% 0.4%

0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

60.0%

70.0%

80.0%

16'Q2 16'Q3 16'Q4 17'Q1

LCD Driver IC Logic Niche Memory

CPC月出貨針數及月接單出貨比

12

1.04

1.11

0.86

0.98

0.50

0.60

0.70

0.80

0.90

1.00

1.10

1.20

0

100,000

200,000

300,000

400,000

500,000

600,000

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

2015 2016 2017 B/B Ratio

PIN

VPC月出貨針數及月接單出貨比

13

PIN

1.13

1.56

1.03

0.66

0.00

0.20

0.40

0.60

0.80

1.00

1.20

1.40

1.60

1.80

0

100,000

200,000

300,000

400,000

500,000

600,000

Jan. Feb. Mar Apr May Jun Jul Aug Sep Oct Nov Dec

2015 2016 2017 B/B Ratio

CPC及VPC成長趨勢

14

% PIN

47%

45%

46%

42%

40%

41%

42%

43%

44%

45%

46%

47%

48%

49%

50%

0

1,000,000

2,000,000

3,000,000

4,000,000

5,000,000

6,000,000

2014 2015 2016 2017 Q1

CPC VPC Gross Margin

全球同業毛利率比較

15

47.0%

42.2%

46.2% 46.6%

45.4%

40.8%

44.5% 46.7%

44.0%

49.7%

41.8%

0%

10%

20%

30%

40%

50%

60%

14Q3 14Q4 15Q1 15Q2 15Q3 15Q4 16Q1 16Q2 16Q3 16Q4 17Q1

F M J MPI

全球同業營利率比較

16

19.0%

9.9% 10.4% 10.7%

9.0%

1.8%

6.9%

13.7% 16.7% 15.6%

12.3%

-30%

-20%

-10%

0%

10%

20%

30%

14Q3 14Q4 15Q1 15Q2 15Q3 15Q4 16Q1 16Q2 16Q3 16Q4 17Q1

F M J MPI

發光二極體事業部 (LED)

17

LED事業部概覽

18

RD > 200

8 BUs

Product LED, PD, LD, OLED, µLED or other

Production Capacity > 150/month

Green

部門里程碑

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推出第一台半自動LED晶圓點測機

推出LEDA品牌

PA部門成立 推出自動化光學檢測(AOI)系列

推出3GP 點測機系列及M76 挑揀機

推出T200 Tester及晶粒點測機 (DP76)系列

挑揀速度突破85ms

部門英文名稱改為 “Photonics Automation”

全球累計銷售突破10,000 台點測機(Prober)

推出M60D全自動高速挑揀機並同時突破55ms挑揀速度

正式推出SkyWalker品牌

主要產品線

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Probing System Wafer Flip chip Single die Package Probing Panel Bottom probing Single package

Testing System Mass production software Integrated spectrum meter Integrated source meter Package Testing From low to high power

Chip Sorting Mapping sorter Package Level Chip Scale Package (CSP) Foil to Foil (FTF)

Inspection System Chip after dicing Chip after sorting

Wafer Tape Die Packaging Substrate Photodiode(PD) LED Package Probing

最大至8吋量測完整解决方案

21

3GS

P7202

P80C4

A2000P

M76FP M76V

4G

P7602P

P9000

P9000

P9002 4G

NEW

M60D

A3000

NEW

2017年每月出貨數量

22

Unit

(741) (953)

28% YoY

130

16

104

37

7

108

180

49

16

30 26

38

10

43

196

73

108

139

81

8

66

104

116

9

66 67

132

101

56

0

50

100

150

200

250

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

LED 2017年目標市場

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IR LED Inside-out Tracking : HTC Vive Outside-in Tracking : Oculus Rift (Facebook) More Manufacturers: Tencent, Nitendo, Microsoft and Dell

Automotive

Night Vision, Reverse Radar to Panorama View for Autopilot System IR LED

Eye Scanning for E-wallet

IR LED (Fujitsu and Samsung)

VR (2016 Market size 14m USD)

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新產品事業部 (Thermal/AST)

Thermal

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http://www.mpi-thermal.com/media/

• Market size: roughly USD$30m • Industries: Telecom / Automotive

AST

• Market size: roughly USD$120m

• Industry: Foundry/IC design houses’ engineering stage process

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財務報表

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資產

Amount: NT$ Million 1Q 2017 1Q 2016

Cash and Cash Equivalents 634 9% 631 9%

Fixed Assets 3,583 50% 3,592 52%

Total Assets 7,155 100% 6,976 100%

LT Debt 238 3% 247 4%

Shareholders' Equity 4,032 57% 3,746 54%

EBITDA 119 61 *EBITDA=operating income + depreciation & amortization expenses

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營收

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NT$1,000

Net Sales 1,127,998 100% 908,246 100%

Cost of Goods Sold 656,012 58% 504,541 56%

Gross Profit 471,986 42% 403,705 44%

Operating Expense 333,608 30% 341,436 37%

Operating Income 138,388 12% 62,405 7%

Investment Income & Others -19,275 -910

Net Income (before tax) 106,004 9% 53,547 6%

EPS (before tax) 1.34 0.69

2017' Q1 2016' Q1

Net Sales NT$ 1,000

0

100,000

200,000

300,000

400,000

500,000

600,000

Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sep. Oct. Nov. Dec.

2014

2015

2016

2017

Thank You

http://www.mpi-corporation.com