旺矽科技股份有限公司 (6223.TT) - MPI Corporation1 旺矽科技股份有限公司 (6223.TT) Goldman Sachs Taiwan Equipment and Automation Day 2 Presentation Disclaimer The

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旺矽科技股份有限公司 (6223.TT)

Goldman Sachs Taiwan Equipment and Automation Day

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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.

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公司簡介

Founded July, 25, 1995

Paid-in Capital NTD$ 796M (2016.12.31-the latest )

Employees 1443 (2016.12.31)

營業內容

4

67%

79%

73%

68%

30%

18%

20%

25%

3%

3%

7%

7%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

2016' Q1

2016' Q2

2016' Q3

2016' Q4

Probe card LED New Business Unit

3

營收分布

5

1,519

576

150 51 420

71

2,787

1,697

958

176 57

783

298

3,969

1,876

801

110 64

581 356

3,788

2178

647

85 101

713 474

4,198

0

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

4,500

Taiwan China Sigapore EU USA RoW Total

2013 2014 2015 2016

NT$ MM

China

54%

Malaysia

30%

Taiwan

9%

Europe

4%

Rest of

Asia 3%

Taiwan

65%

USA

22%

Europe

2%

China

3% Rest of

Asia

8%

2016 Probe card Div.

2016 LED Equipment Div.

2016 51.9% 15.4% 2.0% 2.4% 17.0% 11.3% 100%

Business Contents Semi-conductor (Probe Card)

Photonics Automation (LED)

RF Probe & AST

Thermal

Financial Statements

6

議程

4

半導體事業部 (探針卡)

7


前十大探針卡供應商 (2009-2015)

(Rank) 2009 2010 2011 2012 2013 2014 2015

FormFactor, Inc. USA 1 1 2 2 1 1 1

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

Technoprobe Italy 4 4 4 4 3 3 3

Japan Electronic Materials Japan 3 3 3 3 4 4 4

MPI Corporation Taiwan 6 5 6 6 5 5 5

Cascade Microtech USA 8 10 10 8 8 7 6

SV TCL Singapore 5 6 8 9 10 9 7

Will Technology Korea 7 7 7 5 6 10 8

Korea Instrument (KI) Korea 10 8 5 7 9 6 9

Microfriend Korea 9 9 9 10 7 8 10

5

出貨產品結構及主要客戶

9

71% 70%

64% 65%

28% 29%

35% 34%

1% 1% 1% 1%

0%

10%

20%

30%

40%

50%

60%

70%

80%

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

LCD Driver IC Logic Niche Memory

75%

86%

91%

94%

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

Top 05

Top 10

Top 15

Top 20

CPC月出貨針數及月接單出貨比

10

1.40

1.14

1.28

0.69 0.74

0.98

1.11

0.93 0.91 0.92

1.10

1.24

0.00

0.20

0.40

0.60

0.80

1.00

1.20

1.40

1.60

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 B/B Ratio

PIN

http://hortekcrystal.com/index.asp

6

VPC月出貨針數及月接單出貨比

11

1.11

1.35

0.98

1.11 1.14

1.24

1.49

1.06 1.13

0.58

0.86

1.48

0.00

0.20

0.40

0.60

0.80

1.00

1.20

1.40

1.60

0

100,000

200,000

300,000

400,000

500,000

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

2014 2015 2016 B/B Ratio

PIN

CPC及VPC成長趨勢

12

PIN

65.6%

61.9%

61.4% 49.5%

34.4%

38.1% 38.6%

50.5%

0

1,000,000

2,000,000

3,000,000

4,000,000

5,000,000

6,000,000

2013 2014 2015 2016

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競爭對手毛利率比較

13

49.1% 47.0%

42.2%

46.2% 46.6%

45.4%

40.8%

44.5% 46.7%

44.0%

0%

10%

20%

30%

40%

50%

60%

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

FFI MJC JEM MPI

競爭對手營利率比較

14

14.6%

19.0%

9.9% 10.4% 10.7%

9.0%

1.8%

6.9%

13.7%

16.7%

-30%

-20%

-10%

0%

10%

20%

30%

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

FFI MJC JEM MPI

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發光二極體事業部 (LED)

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LED事業部概覽

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RD > 200

8 BUs

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

Production Capacity > 150/month

Green

苏州新纳晶

强茂(股) 旭福

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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

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最大至8吋量测完整解决方案

19

3GS

P7202

P80C4

A2000P

M76FP M76V

4G

P7602P

P9000

P9000

P9002 4G

NEW

M60D

A3000

NEW

2016年每月出貨數量

20

Unit

130

16

104

37

7

108

180

49

16

30 26

38

10

43

196

73

108

139

81

8

66

104

116

9

0

50

100

150

200

250


2015 2016

(781) (953)

22% YoY

11

2016年出貨國別比率

21

Unit

0 0

10 3 6 3 2 1 1 1 3 1 2

35

173

54

98

136

77

4

62

101

112

4 8 8

13 16

4 0 2 3 3 2 1 4

0

50

100

150

200


Taiwan China Overseas

LED 2017年目標市場

22

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

Automotive

Night Vision IR LED, VCSEL

Eye Scanning for E-wallet

IR LED (Fujitsu and Samsung)

VR (2016 Market size 14m USD)

12

新產品事業部 (RF Probe & AST)

23


Thermal產品蓋覽

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

• Market size: roughly NTD$500-NTD$600m • Industries: Telecom / Automotive • Maximum capacity: 30 – 35 units • Major supplier:




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目標客戶

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*IDM: Integrated Device Manufacturer. **OSAT: Outsourced Semiconductor Assembly and Test

目標產業

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Semiconductor Automotive

Electronics

Defense/

Aerospace

Biomedical/

Pharmaceutical

Telecom/

Fiber Optic

14

AST產品概覽

27

財務報表

28


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資產

Amount: NT$ Million 3Q 2016 3Q 2015

Cash and Cash Equivalents 766 10% 549 8%

Fixed Assets 3,485 48% 3,384 51%

Total Assets 7,322 100% 6,659 100%

LT Debt 242 3% 252 4%

Shareholders' Equity 3,817 52% 3,680 56%

EBITDA 475 338 *EBITDA=operating income + depreciation & amortization expenses

營收

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NT$1,000

Net Sales 3,637,181 100% 3,009,613 100%

Cost of Goods Sold 1,998,477 55% 1,623,715 54%

Gross Profit 1,638,704 45% 1,385,898 46%

Operating Expense 1,160,009 32% 1,087,415 37%

Operating Income 478,862 13% 301,426 10%

Investment Income & Others 3,524 37,223

Net Income (before tax) 405,531 11% 275,804 9%

EPS (before tax) 5.15 3.47

2016 Q3 2015 Q3

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.

2013

2014

2015

2016

16

研發費用, 資本支出及折舊

31

CAPEX and Depreciation Expenses R&D Expenses

NT$ million

19% 18% 18%

20%

18%

0%

5%

10%

15%

20%

25%

30%

0

100,000

200,000

300,000

400,000

500,000

600,000

700,000

800,000

900,000

2012 2013 2014 2015 2016 Q3

R&D % of Total Sales

424

83

409

1,073

216

81 112

140

268 268

0

200

400

600

800

1,000

1,200

2012 2013 2014 2015 2016 Q3

Capex Depreciation ExpensesNT$ 1,000

Thank You

http://www.mpi-corporation.com

Documents

旺矽科技股份有限公司 (6223.TT) - MPI Corporation1 旺矽科技股份有限公司 (6223.TT) Goldman Sachs Taiwan Equipment and Automation Day 2 Presentation Disclaimer The