鈺創科技股份有限公司

櫃買市場業績發表會
鈺創科技股份有限公司
（股票代號：5351）
2011年04月21日
演講人介紹
董事長暨執行長
盧超群 博士
總經理
宋建邁 博士
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美國Stanford University；國立台灣大學
GSA(全球半導體產業聯盟)董事會主席
中華民國優良商人；科技管理學會院士
台灣半導體產業協會、園區同業公會常務理事
美國IBM經理；IEEE Fellow、IEEE 1998
Solid-State Circuits Award Winner
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美國Princeton University；國立交通大學
中芯國際市場營銷及業務資深副總裁
世界先進品質暨可靠度及技術發展資深協理
美國AT&T貝爾實驗室專案經理
„ 美國University of Florida；國立台灣大學
副總經理暨
SIP事業中心總經理 „ 華宇集團策略長
吳炳松 博士
„ 銳相科技創辦人、董事長暨執行長
„ 美國IBM華生實驗室設計經理
投資安全聲明（Safe Harbor Notice）
This following presentation contains forward-looking
statements, which involve known and unknown risks
and are subject to uncertainties that could cause actual
performance, financial results, or operation conditions
to be materially different from those contained in the
forward-looking statements.
Except as required by law, we undertake no obligation to
update any forward-looking statement, whether as result
of new information, future events, or otherwise.
簡報大綱
„ 公司沿革及因應體驗經濟新時代之創新產品戰略
„ 「三經合流」之多元產品線
- Buffer Memory：DRAM & KGDM
- USB 3.0 Host Controller
- Webcam Controller
„ Financial Status
„ IC科技異質性整合時代鈺創公司之產品獨特優勢
鈺創喜慶創業二十週年：五大階段五次成長
„ 技術自主創新、善應市場變化、波濤浪起不斷成長、領導全球IC產業趨勢
- 1991~1995：開發華人首顆16Mb DRAM及奠定台灣先進技術代工基礎
- 1996~2000：開發華人首顆 8Mb及全球第一顆16Mb SGRAM*；公司上櫃
- 2001~2007：推出KGDM*及CEDRAM*，成長為具規模之記憶體世界級領導廠商
- 2008~2010：建基於先進記憶體產品研發技術，擴大「三經合流」多元化產品
線，成功量產新型DRAM、USB3.0主端控制晶片及網路攝影機控制晶片
- 2011~
：先蹲後跳，邁向多元化產品線及異質綜效整合之大成長紀元
NT$M 1991~2010 Etron’s CAGR 29%
平面電視 13,219 全球
14,000 1996~2010 Etron’s CAGR 15%
亞洲
流行
金融
(1996~2010
IC
Industry’s
CAGR
5%*)
SARS
12,000
海嘯
筆電及
10,481
全球
*Source: WSTS (Nov. ’10)
風暴
手機
10,000
亞洲
網路
7,560 7,297 8,124
興起
8,000
泡沫化
晶圓代工 金融
6,331 6,705
工研院推動
6,000
及IC設計 危機
4,402
3,056
次微米計畫
3,405
2,555
2,713
4,000
2,110
1,461 1,122 1,535
2,000 57 100 270 705
0
’911 ’922 ’933 ’944 ’955 ’96
6 ’97
7 ’98
8 ’99
9 ’00
10 ’01
11 ’02
12 ’03
13 ’04
14 ’05
15 ’06
16 ’07
17 ’08
18 ’09
19 ‘10
20
*SGRAM: Synchronous Graphic Random Access Memory; KGDM: Know-GoodDie Memory; CEDRAM: Consumer Electronics Dynamic Random Access Memory
Year
體驗經濟時代 (Experience Economy)
漫步雲端
IC設計成長商機多元化
Heart-Touching 元件
Heart-Touching 服務
Experience-Based
Communication Networks
IC 供應商
Etron Product Synergy is Aligned with
Experience-Driven Mindsets
„ Biological Processing is an Increasingly
Important Analogy for Inspiring New
Technologies
Logic
Memory
Buffer Memory & KGDM:
Storing Experiences
Webcam Controllers:
Capturing Experiences
USB3.0 & High
Speed Serial Links:
Connecting
Experiences
簡報大綱
„ 公司沿革及因應體驗經濟新時代之創新產品戰略
„ 「三經合流」之多元產品線
- Buffer Memory：DRAM & KGDM
- USB 3.0 Host Controller
- Webcam Controller
„ Financial Status
„ IC科技異質性整合時代鈺創公司之產品獨特優勢
鈺創科技 (Etron Technology, Inc.：GTSM 5351)
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Pacific
Ocean
企業總部
1991年成立，1998年上櫃
股東權益：新台幣64億元
資產：新台幣88億元 (以上截至2010年底)
智慧財產專利：美國121件；總計 273件
員工：491人 (以上截至2011年3月底)
總部位於新竹科學園區內，另有全球辦公室：
- 美國：Santa Clara, Boston
- 華人區：香港, 上海, 深圳
- 日本 : Tokyo
„ 世界級創意創新IC設計領導公司
„ 首創「應用導向之緩衝記憶體」商業模式
(Application-Driven Buffer Memory Business) 及
領導「高品質裸晶DRAM」產業 (Known-Good-Die
Memory Segment for 3D IC)
- 全球DRAM供應商排名第九
- 全球無晶圓DRAM公司，排名第一
„ 傳輸速度領先全球之USB3.0 主端控制晶片
„ Webcam Controller外掛式市場最大供應商
公司產品組合與產品線
„ 提供客戶各式解決方案，包括不同封裝形式，例如TSOP和BGA等
„ 提供優良品質KGDM (Known-Good-Die Memories)
Application Buffer DRAM
System
Chips
SRAM
- Pseudo SRAM
- USB3.0 Host Controller - Wide-Bandwidth DDR I/II
- Low Power SRAM
- Webcam Controller - Known-Good-Die DRAM
- Enduring SDRAM
- Low Power & Mobile DRAM
各類型DRAM之名稱與定義
„ Commodity DRAM：大宗型或一般型DRAM
„ Specialty or Niche DRAM：特殊型或利基型DRAM
- Graphic DRAM：繪圖型DRAM
- Low Power DRAM：低耗能DRAM
- Mobile or Hand-held DRAM：移動用或手持式DRAM
- KGDM (Known-Good-Die Memory)：優良裸晶DRAM
- Wide-I/O DRAM：寬頻進出式DRAM
- CEDRAM (Consumer Electronics DRAM)：消費應用型
DRAM
- KGDM (Known-Good-Die Memory)：優良裸晶DRAM
- High Bandwidth DRAM：寬頻DRAM
- Pseudo SRAM：虛擬式SRAM
„ Embedded DRAM：嵌入式DRAM
鈺創產品線參與
產品廣泛應用於3C領域
„ Computer
- HDD
- ODD
- DVD
- Printer
„ Consumer
35%
35%
30%
„ Communications
- Network
- STB
- Handheld
- LCD TV
- Display Panel
- DVD
- DSC
Differentiated Positioning From WW DRAM IDMs
„ Market Separated from
PC DIMM Commodity
Segment
„ Developing Application
Domain Knowledge in
Design/Testing/Burn-in
Optimization
„ Offer Field Service to
Customers in Both
Product Development
and Production Phases
Density
4Gb
2Gb
1Gb
512Mb
Commodity
DRAM
256Mb
128Mb
64Mb
16Mb
I/O
x8
x16 / x32
Known-Good-Die Memory
全球領導廠商
„ Easy to Make Bare Die but
Difficult to Guarantee KnownGood-Die Memory for Lifetime
- High quality and reliability
- Tailored services
- Robust design
An Example of Etron’s KGDM Implementation
„ Application Driven Buffer KGD Memory accelerates Systemin-Package (SiP) transformation for the benefits of
- Less noise and EMI radiation
- Pin-count reduction : 216pins
144 pins
- PCBA simplification : 4 layers
2 layers
- ~30 less passive components in PCBA
Main
Chip
DRAM
+ DRAMs
Main Chip
Mastering Technologies for Robust Design
Mobility and Portability
Low Voltage
3.3V → 1.8V → 1.2V
Low Power
1mA → 0.001mA
Small Form Factor
TSOP, TQFP →
BGA, Known-Good-Die
Video, Audio and Multimedia
High Speed
400MHz → 1066MHz, DDR I/II
High Integration
SOC → Multi-Chip Stack
High Density
16Mb → 512Mb → 1Gb
Low Cost and High Quality / Productivity
Multiple Foundry Alliance
DRAM, SRAM, Logic
Advanced Process Technology
DRAM: 0.11mm → 70nm → 63nm
Large Wafer Size SRAM: 0.15mm → 0.11µm →70nm
8 inch → 12 inch
簡報大綱
„ 公司沿革及因應體驗經濟新時代之創新產品戰略
„ 「三經合流」之多元產品線
- Buffer Memory：DRAM & KGDM
- USB 3.0 Host Controller
- Webcam Controller
„ Financial Status
„ IC科技異質性整合時代鈺創公司之產品獨特優勢
Etron Product Synergy is Aligned with
Experience-Driven Mindsets
„ Biological Processing is an Increasingly
Important Analogy for Inspiring New
Technologies
Logic
Memory
Buffer Memory & KGDM:
Storing Experiences
Webcam Controllers:
Capturing Experiences
USB3.0 & High
Speed Serial Links:
Connecting
Experiences
從 USB1.1、USB2.0 到 USB3.0
為何要使用USB3.0?
„ 10X Faster Speed than USB2.0
Song/Pic
256 Flash
USB Flash
SD-Movie
USB Flash
HD-Movie
4 MB
256 MB
1 GB
6 GB
16 GB
25 GB
USB 1.0
5.3 sec
5.7 min
22 min
2.2 hr
5.9 hr
9.3 hr
USB 2.0
0.1 sec
8.5 sec
33 sec
3.3 min
8.9 min
13.9 min
USB 3.0
0.01 sec
0.8 sec
3.3 sec
20 sec
53.3 sec
70 sec
„ 2X Higher Charging Current than USB2.0
Current provided
Time needed to charge
1000mAh Li battery (min)
Charge time reduction
Source: USB-IF
USB 2.0
USB 3.0 normal
USB 3.0 power-B
500 mA
900 mA
1,000 mA
144
80
72
-44%
-50%
Source: Yuanta Research compiled
„ Backward Compatible with USB2.0 and USB1.1
USB3.0無所不在，參與大眾生活
From 2012
From 2011
Mobile Phone
DSC
TV
Camcorder
Set Top Box
From 2010
Blue Ray Player Game Console
PC
Media Player
Web Cam
PC Add-On Card Monitor
Hub
MFP
From 2009
Pen Drive
External HDD External SSD
USB3.0(主端+客端)出貨量年成長超過80%
370M in 2011, 700M in 2012 and 1250M in 2013
Million Set
USB3.0/2.0/1.1/1.0 Shipment Trend
6,000
USB1.0/1.1
5,000
USB2.0 USB3.0
USB 3.0
4,000
3,000
USB 2.0
2,000
1,000
USB 1.0/1.1
0
2006
2007
2008
2009
2010(f)
2011(f)
Source: DIGITIMES 2010/10
2012(f)
2013(f)
2014(f)
鈺創USB3.0主端控制晶片EJ168快速量產
„ 具備全世界最快捷之讀寫/存取速度與最佳相容性
„ 已成為台灣主機板及PC 所需USB3.0主晶片之最大供應商
„ 最新Intel Sandy Bridge平台使用之USB3.0主晶片配合廠商
„ 完全自主的IP技術，提供完善的客戶支援與服務，尤其使台系廠商
享有在USB3.0時代有自主技術及產品供應之來源
„ 持續於USB3.0應用扮演重要推手，協助客戶競爭優勢，強化客戶發
展動能，領導未來USB3.0在3C產業的蓬勃發展
A Product Series of Webcam Controllers
„ Contains Imaging Processor and USB Behind CMOS Sensors to
Optimize Audio, Video and Image Performance and Quality
„ eSP258 & eSP268 for PC Cam and NB Cam
- Shipped more than 25 million units since 2009
- Provide the highest integrated solutions
„ eSP568 Presents High Quality of Audio and Video Operation Based
on a Single Chip Solution
Etron Product Synergy is Aligned with
Experience-Driven Mindsets
„ Biological Processing is an Increasingly
Important Analogy for Inspiring New
Technologies
Logic
Memory
Buffer Memory & KGDM:
Storing Experiences
Webcam Controllers:
Capturing Experiences
USB3.0 & High
Speed Serial Links:
Connecting
Experiences
簡報大綱
„ 公司沿革及因應體驗經濟新時代之創新產品戰略
„ 「三經合流」之多元產品線
- Buffer Memory：DRAM & KGDM
- USB 3.0 Host Controller
- Webcam Controller
„ Financial Status
„ IC科技異質性整合時代鈺創公司之產品獨特優勢
2010年度損益表
2010
Amount: NT$M (單位：新台幣佰萬元)
Net Sales 營業收入
2009
YoY
8,124
100%
7,297
100%
11%
(6,929)
(85%)
(6,088)
(84%)
14%
1,195
15%
1,209
16%
(1%)
(1,079)
(13%)
(1,047)
(14%)
3%
Operating Income 營業利益
116
2%
162
2%
(28%)
Non-Operating Income (Loss) 業外收支
109
1%
(68)
(1%)
--
Income Before Tax 稅前純益
225
3%
94
1%
139%
Income Tax Benefit (Expense) 所得稅
(24)
(1%)
(15)
0%
60%
Net Income 稅後純益
201
2%
79
1%
154%
COGS 營業成本
Gross Profit 營業毛利
Operating Expense 營業費用
Capital 股本
EPS (NT$) 每股盈餘
4,435
4,174
6%
0.47
0.19
147%
2010年度重要財務指標
Amount: NT$M (單位：新台幣佰萬元)
2010
2009
YoY
Net Sales 營業收入
8,124
7,297
11%
Gross Profit 營業毛利
1,195
1,209
(1%)
Operating Income 營業利益
116
162
(28%)
Income Before Tax 稅前純益
225
94
139%
Net Income 稅後淨利
201
79
154%
EPS (NT$) 每股盈餘
0.47
0.19
147%
Total Assets 總資產
8,830
9,897
(11%)
Total Liabilities 總負債
2,444
4,001
(39%)
Shareholder’s Equities 股東權益
6,386
5,896
8%
14.4
14.3
BPS (NT$) 每股淨值
單月營業收入成長
NT$M
800
600
US$M
NT$M
13
413
14
433
10月
11月
2010年
15
464
17
503
18
513
19
525
1月
2月
2011年
3月
400
200
0
12月
近期重要事件摘要
„ 仁寶集團智易公司頒發「最佳品質獎」予鈺創科技，
獎勵其DRAM產品品質特優。(2011.04)
„ 鈺創科技掌握市場趨勢，於去年開始量產的USB3.0主端控制IC產品EJ168
累計出貨量已超過佰萬餘顆。(2011.03)
„ 鈺創科技參加電子時報舉辦之「高速傳輸技術論壇」，領導USB3.0在3C
產業的蓬勃發展。 (2011.03)
„ 鈺創科技接受USB應用者論壇(USB-IF)邀請於美國拉斯維加斯參加全球最
大之國際消費電子展(CES)，揭示三經合流新時代來臨。(2011.01)
„ 鈺創科技推出的USB3.0主端控制IC產品EJ168，榮獲99資訊月「傑出資訊
應用暨產品獎」，為本次唯一獲獎之USB3.0技術應用產品。 (2010.12)
簡報大綱
„ 公司沿革及因應體驗經濟新時代之創新產品戰略
„ 「三經合流」之多元產品線
- Buffer Memory：DRAM & KGDM
- USB 3.0 Host Controller
- Webcam Controller
„ Financial Status
„ IC科技異質性整合時代鈺創公司之產品獨特優勢
Heterogeneous Integration* (HI) is Happening
„ New System Chip Architecture: mD-IC (multi-Dimensional Die
Integration Chip); m= 2, 2.5, 3, 4…
e.g. RF or
Power
Analog or
Cache over SoC
Memory
+ Logic
*After Nicky Lu, ISSCC 2004 Plenary Talk
Etron Proprietary & Copyright © 2007 All Rights Reserved, April 30
Stacked Die System Chip Needs Bare-Die
Memory
µC F/W
Flash ROM
Digital LCD
Image Lens
CMOS/CCD
Sensor
Data
DSC
Processor
Control
USB/1394
Flash Memory
Compact Flash
Smart Media
Frame
Memory
(SDRAM)
After T.H. Tong (ASE Corp.)
More HIs are Coming
„ HI (mD-IC) ≣ Moore’s Law + 3D ICs + More than Moore +
Novel Functions Created by Non-Silicon Contents
- Inspire More Inventions & Innovations
- Generate Higher Value
- Create Diversified System Products
e.g.
RF or
Power
Analog or
Cache over SoC
Memory
+ Logic
3D IC = 台北101 + 信義計畫區
奈米級IC堆疊類似建造
大都會方案，遠景無限，
夢想無邊
„
- KGDM = 旅館
- USB3.0 = 環快道路及電梯
- Webcam IC = 生活大眼睛
Like multiple
dies
e.g. Taipei World Trade
Center versus one-story
range at Texas
Like single die
Taipei World Trade Center
IC設計者夢想：殺手級應用 (I)
„ Voice Triggered Electronics with Sharp Speech Recognition
„ Real-Time Translator to Allow an Universal Communication
even with Different Languages
喂~
Hello~
Do you hear me?
Dance
IC設計者夢想：殺手級應用 (II)
„ Body/Gestures Triggered Electronics with Prompt Interactions
„ Virtual Reality in Remote Touch, Play, and Shopping
Source: www.xbox.com/en-GB/kinect/
綜觀IC五十年
„ ’70s
Technology (Circuits): Pioneer or System House
„ ’80s
Manufacturing & Automation: IDM*
„ ’90s
VLSI Design: Fabless and Foundry
„ ’00s
Diversified Applications: System Chip & Cluster Model
„ ’10s
Life Effectiveness: Ubiquitous Integration of HumanMachine-ICs
„ ’20s
Fusion of Heart-Touching System into Life, Body, and
Community: Heterogeneous Integrated Design & Architect
*IDM means Integrated Device Manufacturer
Etron Product Synergy is Aligned with
Experience-Driven Mindsets
„ Biological Processing is an Increasingly
Important Analogy for Inspiring New
Technologies
Logic
Memory
Buffer Memory & KGDM:
Storing Experiences
Webcam Controllers:
Capturing Experiences
USB3.0 & High
Speed Serial Links:
Connecting
Experiences
謝謝大家！Thank You!
Featured
Mr. Norte and Etron