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旺矽科技股份有限公司 6223.TT
櫃買市場業績發表會
6th Apr. 2017
2
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$ 796M (2017.3.31-the latest )
Employees 1454 (2017.3.31)
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
67% 70%
73% 68%
30%
18% 20%
25%
3% 3%
7% 7%
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' Q1 2016' Q2 2016' Q3 2016' Q4
Probe Card LED New Business Unit Revenue
營收分布
5
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% 17.0% 15.7% 100%
1,519
576 420
272
2,787
1,697
958 783
531
3,969
1876
801 581 530
3,788
2178
647 713 660
4,198
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
TAIWAN CHINA USA RoW Total
2013 2014 2015 2016
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
櫃買市場業績發表會
6th Apr. 2017
全球探針卡市場概況
8
Probe Cards
Memory
Applications
Epoxy /CPC
Advanced P/C
Non-Memory
Applications
Blade/ Tungsten
Epoxy/
Cantilever
Advanced Probe
Cards
$1.3 billion in 2015 CAGR 5.1% 2015-2020
40%
60%
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
9
CPC & VPC
CPC VPC
出貨產品結構及主要客戶
11
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
12
PIN
1.04
1.11
0.83
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
VPC月出貨針數及月接單出貨比
13
PIN
1.13
1.56
1.03
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
46%
45%
44%
46%
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
2013 2014 2015 2016
CPC VPC Gross Margin
38.1%
%
65.6%
34.4%
61.9%
61.4%
38.6%
49.4%
50.5%
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%
0%
10%
20%
30%
40%
50%
60%
14Q3 14Q4 15Q1 15Q2 15Q3 15Q4 16Q1 16Q2 16Q3 16Q4
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%
-30%
-20%
-10%
0%
10%
20%
30%
14Q3 14Q4 15Q1 15Q2 15Q3 15Q4 16Q1 16Q2 16Q3 16Q4
F M J MPI
發光二極體事業部 (LED)
17
櫃買市場業績發表會
6th Apr. 2017
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
19
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
20
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
2016年每月出貨數量
22
Unit
(741) (953)
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
0
50
100
150
200
250
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2015 2016 2017
28% YoY
LED 2017年目標市場
23
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)
新產品事業部 (Thermal/AST)
24
櫃買市場業績發表會
6th Apr. 2017
Thermal
25
http://www.mpi-thermal.com/media/
• Market size: roughly USD$30m • Industries: Telecom / Automotive
AST
• Market size: roughly USD$120m
• Industry: Foundry/IC design houses’ engineering stage process
26
27
櫃買市場業績發表會
6th Apr. 2017
財務報表
資產
Amount: NT$ Million 2016 2015
Cash and Cash Equivalents 749 10% 473 7%
Fixed Assets 3,602 50% 3,505 53%
Total Assets 7,264 100% 6,651 100%
LT Debt 240 3% 250 4%
Shareholders' Equity 3,959 54% 3,684 54%
EBITDA 651 359 *EBITDA=operating income + depreciation & amortization expenses
28
營收
29
NT$1,000
Net Sales 4,961,755 100% 4,013,170 100%
Cost of Goods Sold 2,665,069 54% 2,220,098 55%
Gross Profit 2,296,686 46% 1,793,072 45%
Operating Expense 1,610,920 32% 1,476,271 37%
Operating Income 685,942 14% 319,840 8%
Investment Income & Others -34,454 39,674
Net Income (before tax) 560,837 11% 294,141 7%
EPS (before tax) 7.09 3.71
2016 2015
Net Sales NT$ 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
Thank You
http://www.mpi-corporation.com