Investor Conference-20120518 new(by Austin) - ¸‚³ç‰ˆ . 100% WCDMA operators have ... Utilizing mix of Macrocell and small cell ... Increasing system throughput. 3

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  • Think of Frequency, Think of TXC |

    May23,2012

  • Think of Frequency, Think of TXC | 1

    FINANCIAL RESULTS SALES & MARKETING PRODUCTS DEVELOPMENTBUSINESS HIGHLIGHTQ&A

  • Think of Frequency, Think of TXC | 2

  • Think of Frequency, Think of TXC |

    1,394

    1,824

    2,217 2,2922,113

    2,3382,510

    2,689

    2,3222,476 2,495

    2,6052,394

    22.69%

    30.88%

    21.55%

    3.39%

    7.84%

    10.69%

    7.33% 7.14%

    13.65%

    6.63%0.77%

    4.45%

    8.10%

    30%

    20%

    10%

    0%

    10%

    20%

    30%

    40%

    0

    500

    1,000

    1,500

    2,000

    2,500

    3,000

    09.Q1 09.Q2 09.Q3 09.Q4 10.Q1 10.Q2 10.Q3 10.Q4 11.Q1 11.Q2 11.Q3 11.Q4 12.Q1

    QuarterlyRevenue QoQRevenueGrowth

    3

    Unit: $NT in Million

  • Think of Frequency, Think of TXC | 44

    Unit: $NT in Million

    273

    422

    576633

    532

    629 696

    679

    576609 630 586

    522

    19.61%

    23.15%

    26.00%27.59%

    25.16%

    26.91% 27.75% 25.20%24.63%24.69% 25.25%

    22.50%21.80%

    0%

    5%

    10%

    15%

    20%

    25%

    30%

    0

    100

    200

    300

    400

    500

    600

    700

    800

    09.Q1 09.Q2 09.Q3 09.Q4 10.Q1 10.Q2 10.Q3 10.Q4 11.Q1 11.Q2 11.Q3 11.Q4 12.Q1

    QuarterlyGrossProfit GrossMargin

  • Think of Frequency, Think of TXC | 55

    69

    170

    260283

    213

    331361

    285 237248

    305

    260 1994.97%

    9.31%

    11.74%12.34%

    10.08%

    14.15% 14.37%

    10.61%

    10.13% 10.02%

    12.23%

    9.98%

    8.31%

    0%

    2%

    4%

    6%

    8%

    10%

    12%

    14%

    16%

    0

    50

    100

    150

    200

    250

    300

    350

    400

    450

    09.Q1 09.Q2 09.Q3 09.Q4 10.Q1 10.Q2 10.Q3 10.Q4 11.Q1 11.Q2 11.Q3 11.Q4 12.Q1

    QuarterlyNetProfit NetMargin

    Unit: $NT in Million

  • Think of Frequency, Think of TXC | 66

    Item 11.Q3 11.Q4 12.Q1

    CurrentAssets $6,712 $5,727 $5,785

    Cash $2,237 $1,283 $1,445

    Notes&Accountreceivables $2,997 $3,134 $2,845

    Inventories $1,312 $1,160 $1,318

    Fixedassets $5,530 $5,690 $5,610

    Totalassets $12,731 $11,943 $11,866

    Currentliabilities $3,467 $2,623 $3,297

    Notes&Accountpayables $1,540 $1,271 $1,279

    Longtermliabilities $2,291 $2,088 $1,208

    Totalliabilities $5,816 $4,783 $ 4,585Shareholders'equity $6,914 $7,160 $7,281

    Debtratio 45.68% 40.05% 38.64%

    CurrentRatio 193.60% 218.34% 175.46%

    QuickRatio 150.97% 168.39% 130.12%

    NetValuePerShare $22.88 $23.69 $24.09

    (Unit:$NTinMillion)

  • Think of Frequency, Think of TXC | 7

    Amounts Notes Amounts NotesPingChengFactory 1,058 a.TCXO/AOM*5

    b.SapphireEquipment

    c.RDEquipment

    600 a.TCXO/AOM*5(Backendofline)b.SapphireEuipment

    NGBFactory 250 TuningFork*3

    MiniatureX'tal*2250 MiniatureX'tal*5

    Total 1,308 850

    CKGFactory 156 Factories&Equipments 348 Factories&Equipments

    MassProduction

    (2012/2013)

    2011 2012(f)

    Factories

    (Unit:$NTinMillion)

    c.RD Euipment

  • Think of Frequency, Think of TXC | 8

    Compensationpayabletodirectorsandsupervisors 2%(2011)

    EmployeeBonus 12%(2011)

    2005 2006 2007 2008 2009 2010 2011

    EarningPerShare 2.73 4.13 4.88 3.56 2.75 4.06 3.48

    CashDividendPerShare 0.99 1.94 1.98 2.00 2.00 2.50 2.2

    StockDividendPerShare 0.59 0.97 0.99 0.50 0.20 0.20 0

    Yield(%) 1.95% 3.20% 3.63% 6.25% 3.84% 4.47% 5.05%

  • Think of Frequency, Think of TXC | 9

  • Think of Frequency, Think of TXC |

    8.46%

    4.94%

    14.39%

    20.37%

    1.37%0.80%

    19.00%16.00%

    8.00%

    25.16%

    8.64%

    20.00%

    15.00%

    10.00%

    5.00%

    0.00%

    5.00%

    10.00%

    15.00%

    20.00%

    25.00%

    30.00%

    2007 2008 2009 2010 2011 2012

    WWFCPMarket TXC

    10

    Resource:CS&A

  • Think of Frequency, Think of TXC | 11

    Worldwide Revenue of the Top Crystal and Oscillator Suppliers (Unit: Millions of Dollars)

    Resource:CS&A

  • Think of Frequency, Think of TXC | 12

    Resource:CS&A

  • Think of Frequency, Think of TXC |

    KHzXtal20%

    MHzXtal34%XO

    13%

    TCXO21%

    VCXO6.38%

    OCXO5.06%

    KHzXtal38%

    MHzXtal51%

    XO5%

    TCXO6%

    VCXO0.5%

    OCXO0.02%

    13

    Resource:CS&A

  • Think of Frequency, Think of TXC |

    KHzX'tal8%

    MHzX'tal62%

    Others8%

    TCXO8%

    VCXO1%

    CXO13%

    KHzX'tal4%

    MHzX'tal58%

    Others9%

    TCXO16%

    VCXO1% CXO

    12%

    14

  • Think of Frequency, Think of TXC |

    PC20%

    MOBILE30%

    NETWORKING26%

    CONSUMER9%

    AUTOMOTIVE2% Others

    11%

    SAPPHIRE2%

    PC25%

    MOBILE28%

    NETWORKING24%

    CONSUMER8%

    AUTOMOTIVE2%

    Others13%

    SAPPHIRE0.1%

    15

  • Think of Frequency, Think of TXC |

    T.A.M2011:1,554Munits

    2012(F):1,681Munits

    660Munits2012YoY 33%

    1,021Munits

    2011Globalmobilephonemajorplayersandmarketshare(2012estimatedgrowthrate:6%)

    2012ChinaTAM250Munits(f)Nokia(29.9%)HTC(12.8%)Motorola(12.7%)Apple(6.5%)Lenovo(3.2%)Huawei(2.6%)ZTE(1.8%)Coolpad (1.5%)Others(29%)

    16

  • Think of Frequency, Think of TXC |

    GSAResearch(Jan2012):1. 100%WCDMAoperatorshave

    launchedHSPA(3.5G)2. HSPA+(3.75G)ismainstream.3. 35commercialLTEnetworks

    launched(Europe,USA,Korea,Japan,HK).

    4. Forecasts119commercialLTEnetworksbyend2012.

    EAU ~1.5M units/Y

    MajorPlayers:Ericsson,Huawei,Samsung, NEC,NSN,ZTE,AlcatelLucent ,etc

    Huawei,14%

    Ericsson,21%

    NokiaSiemens,10%

    AlcatelLucent,3%

    ZTE,5%

    Samsung,28%

    NEC,12%

    Others/NotDetermined,7%

    17

  • Think of Frequency, Think of TXC |

    HetNet (Hetrogeneous Network)UtilizingmixofMacrocell andsmallcell(Picocell,Femtocell),relaybasestations...etc..Advantages:1. ReduceoperatorsCAPEXandOPEXcost.2. Increasingsystemthroughput.3. ImprovinguserUplink/Downlinkdatarate.TXCopportunities:1. Smallcell:Stratum3TCXO,VCXO.2. Macrocell:OCXO,VCXO.

    Macrocells

    Femtocells

    18

  • Think of Frequency, Think of TXC | 19

    Source:DIGITIMES Feb,2012

    2011 2012

    Existing Customers

  • Think of Frequency, Think of TXC | 20

  • Think of Frequency, Think of TXC | 21

    1.2*1.0Crystal (Smallestintheworld) 7050/5032 (HighSpeedHCSLOscillator) 1.6*1.0TuningFork(Smallestintheworld) MOSFET (PowerManagementUnit) 7050/5032/3225 MEMSOscillator

    http://www.txccorp.com/tw/index.asp

  • Think of Frequency, Think of TXC |

    Prod

    uctP

    erform

    ance

    Seam40~125

    2012 2013 2014 2015 2016

    VCXO

    MHzCrystal

    XO/MO/SO

    TCXO&VCTCXO

    OCXO

    XO100~200MHz(Fundamental)PhaseJitter

  • Think of Frequency, Think of TXC | 23

  • Think of Frequency, Think of TXC |

    Taiwan

    Japan

    China

    Korea

    Focus on the 4 Sapphire Wafer Market. & Successfully approved and running into the warm-up production stage

    Closely co-work with Japan partner to step into the Japan 4& 6 Market. Product is approval and under line auditing

    Hesitate and initially approach the potential China customers .

    Contact with the potential customer and sampling approving of the 4& 6 Wafers

    24

  • Think of Frequency, Think of TXC |

    0

    5000

    10000

    15000

    20000

    25000

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

    4" Capacity(pcs) Sales amount(pcs)Sales (pcs)

    25

  • Think of Frequency, Think of TXC | 26

  • Think of Frequency, Think of TXC | 27

    Revenue will grow gradually and stably.

    Gross margin expected to be above 22%.

    China market is still growing strongly, especially in smartphone, tablet and infrastructure sectors.

    4G application is the major driving force for high-end products along with raising Cloud Computing.

    New products are on market smoothly and will bring growth momentum.

  • Think of Frequency, Think of TXC |

    2012 Q1 2012 Q2 (f)

    Consolidated Operating Revenue 2,394 2,550

    Consolidated Gross Profit 522 570

    Consolidated Operating Profit 230 265

    28

    (Unit:$NTinMillion)

  • Think of Frequency, Think of TXC | 29