2448 - epistar.com · LED solution 2016 Sep. 2016 Merged with FOREPI & HUGA 2018 Oct. 2018 Spin-off...
Transcript of 2448 - epistar.com · LED solution 2016 Sep. 2016 Merged with FOREPI & HUGA 2018 Oct. 2018 Spin-off...
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2448
Actualize III-V Semiconductor Potential
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Safe Harbor Notice 2
These presentation materials include forward-looking statements that are subject to significant risks and uncertainties and actual results may differ materially from those contained in the forward-looking statements.
The factors that could cause actual results including, but not limited to current uncertainty in global market conditions, our development in new technologies and products, our ability to lower costs, the complexity of our manufacturing processes, the availability of raw materials, and the difficulties of estimating future market demand.
Our industry and business are constantly evolving and we undertaking no obligation to update any forward-looking statements, whether as a result of new information, future events, or otherwise.
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Quick Glance at Epistar
Founded ︰September 1996
Chairman︰Dr. B. J. Lee
President︰Mr. Patrick Fan
Paid-in Capital︰NTD 10.9 Billions (~ US$ 373 M)
Products︰
– AlGaInP LED EPI-wafers and chips
– InGaN LED EPI-wafers and chips
– UV / Infrared LED chips
– VCSEL Foundry Services
– III-V solar cells
Employee︰3,458 staff (update: May, 2019)
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Corporate Achievement
History & Milestones
1996
Sep. 1996
Established in
Hsinchu Science Park
2001
May 2001 IPO listing on the Taiwan Stock Exchange
2005
Dec. 2005
Merged with UEC
2007
Mar. 2007 Merged with Epitech & Highlink
2010
Nov. 2010 JV with TOYODA GOSEI
2012
Dec. 2012 Cooperate with HUGA
2015
Mar. 2015
Merged with TSMCSSL
Aug. 2015
Patent cross-license agreement with CREE
2014
Feb. 2014 Patent cross-license agreement with PHILIPS
Dec. 2014
Acquired FOREPI
2019
Jan 2019
Yenrich provide mini LED solution
2016
Sep. 2016
Merged with FOREPI & HUGA
2018
Oct. 2018
Spin-off Unikorn
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Market Overview and Outlook 5
The overall industry still oversupply in the first half of 2019
Inventories rise substantially among China peers, price-cut and utilization adjustment are inevitable
Inventories rise substantially among China peers, production cutting and digesting inventory for
operating cash inflow
Players lacking cost-competiveness or product-differentiation could face Industry shakeout
Expected Mini LED will increase from the last half of 2019
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EPISTAR 2.0 6
Actualize LED Potential
Actualize III-V Semiconductor Potential
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延伸至三五族半導體的應用 7
LED • Illumination •Signals •Automotive •Mobile Application ......
Laser Diodes •Optical Storage • Industry Medical •Projector •Fiber commutation ……
Power PFC / Power/Supply PV Inverter/ EV / HEV/UPS …….
RF Electronic 5G Wireless charge ……
BAW Device Mobile Phone ……
Acoustic wave
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EPISTAR Group 8
Yenrich Technology Co.
EPISTAR Group
Unikorn Semiconductor Co. Epistar Corporation
LED / LD Business Foundry Business Component / Module Business
• AlGaInP & AlGaAs LED
• InGaN LED
• Long wavelength LED & LD
• Solar cell
• VCSEL
• Power Electronics(GaN/Si)
• RF
• BAW
• CSP
• Mini, Micro-LED
• Sensor
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New Growth Engines 9
Future Display (Mini-LED/Micro-LED)
New Generation Smart Car – GaN Power/LiDAR
IoT –/Sensor/Power Module
5G World – Solar Cell/BAW….
3D Sensing, VR/AR – VCSEL
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Balance Sheets
(In NT billions excepted otherwise noted)
Cash & Marketable Securities 6.1 9.7% 6.3 10.0% 5.5 8.3%
Accounts Receivable 9.7 15.5% 10.4 16.6% 11.4 17.2%
Inventory 4.2 6.7% 4.7 7.5% 5.4 8.1%
Long-Term Investment 1.1 1.8% 1.1 1.8% 2.6 3.9%
Net PP&E 22.0 35.1% 22.4 35.7% 24.0 36.2%
Total Assets 62.7 100.0% 62.7 100.0% 66.3 100.0%
Current Liabilities 8.6 13.7% 9.1 14.5% 9.4 14.2%
Long-Term Interest-bearing Debt 0.1 0.2% 0.4 0.6% 0.7 1.1%
Total Liabilities 12.4 19.8% 11.8 18.8% 12.4 18.7%
Total Shareholders’ Equity 50.3 80.2% 50.9 81.2% 53.9 81.3%
2018.12.31 2018.03.312019.03.31
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2019 1Q Income QoQ Comparison
(In NT millions except otherwise noted)
Sales revenue 3,753 100.0% 4,216 100.0% (463) (11.0%)
Gross loss (423) (11.3%) (185) (4.4%) 238 128.6%
Operating expenses (830) (22.1%) (868) (20.6%) (38) (4.4%)
Net other income and expenses 40 1.1% 69 1.6% (29) (42.0%)
Operating loss (1,213) (32.3%) (984) (23.3%) 229 23.3%
Net currency exchange gains 43 1.1% 42 1.0% 1 2.4%
Interest expense (37) (1.0%) (36) (0.9%) 1 3.0%
Other net non-operating income (expenses) 64 1.7% (237) (5.6%) 301 127.0%
Loss before income tax (1,143) (30.5%) (1,216) (28.8%) (73) (6.0%)
Loss for the period (1,130) (30.1%) (1,005) (23.8%) 125 12.4%
Basic loss per share(NT$) 0.13 14.2%
QoQ
(1.03) (0.90)
1Q19 4Q18
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2019 Income YoY Comparison
(In NT millions except otherwise noted)
Sales revenue 3,753 100.0% 5,148 100.0% (1,395) (27.1%)
Gross profit (loss) (423) (11.3%) 886 17.2% 1,309 147.7%
Operating expenses (830) (22.1%) (812) (15.8%) 18 2.2%
Net other income and expenses 40 1.1% 53 1.0% (13) (24.5%)
Operating profit (loss) (1,213) (32.3%) 127 2.5% 1,340 1055.1%
Net currency exchange (loss)gains 43 1.1% (44) (0.9%) 87 197.7%
Interest expense (37) (1.0%) (41) (0.8%) (4) (9.8%)
Other net non-operating income 64 1.7% 65 1.3% (1) (1.5%)
Profit (loss) before income tax (1,143) (30.5%) 107 2.1% 1,250 1168.2%
Profit (loss) for the period (1,130) (30.1%) 378 7.3% 1,508 398.9%
Basic earnings (loss) per share(NT$) 1.40 378.4%
YoY
(1.03) 0.37
2019 1Q 2018 1Q