簡報資料(English)

8016:TT
Investor Conferences
Q1 2016
Strategic Marketing Director
Jacky Chou 周德雲
Investor Relations Officer
Vivian Mao 毛廷方
0
Sitronix Confidential. Do Not Copy or Distribute.
Company Overview
Company Name
Sitronix Technology Corp.
Established
July 9, 1998
Market capitalization
350M USD
Chairman and CEO
Vincent Mao
President
William Wang
Employees
320 (Group: 520)
Headquarters
Hsinchu, Taiwan
Sales office
Taipei, Shenzhen, Shanghai
IPO Listing
December 25, 2003
Headquarters
(Hsinchu Tai Yuen Hi-Tech Industrial Park, Taiwan)
Subsidiaries
1
Taipei office
Product Strategy
Mobile display
Industrial & Automotive display
Mobile
Display
Driver IC
Industrial
Display
Driver IC
Automotive
Display
Driver IC
(手機顯示器)
(工控顯示器)
(車載顯示器)
Subsidiaries
(71.43%)
SOC
Touch
Controller IC
( 觸控 IC 及
其他非顯示器 IC )
Subsidiaries
(87.12%)
(45.76%)
(63.89%)
2
Product mix: high growth & high gross margin
High growth, low baseline
High gross margin &
niche markets
Mobile DDI
Touch Products
3
Sitronix Confidential. Do Not Copy or Distribute.
Mobile Display Driver IC updates
Small size DDI :
QQVGA(160x120) - Zero Cap.
QCIF(220x176) - Zero Cap.
QVGA(320x240) - Zero Cap.
WQVGA(400x240) - Zero Cap.
2014  > 450M pcs
Wearable / health care / sports devices / IOT …
Smartphone DDI :
HVGA_480x320 (14Q4 MP) - Zero Cap.
WVGA_800x480 (13Q4 MP)
HD720_1280x720 (14Q4 MP)
2014 
> 30M pcs
Smartphone DDI (2016):
HVGA 480x320 (Q4 14 MP) - Zero Cap.
WVGA 800x480 (Q4 15) - Zero Cap.
HD720 1280x720 (Q2 16) - Zero Cap.
FHD 1920x1080 (Q4 15) - Zero Cap.
4
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SOC
Light sensors
Q4 2012 MP
Smartphone market
 >80M (2014)
Ambient Light Sensors
CMOS Circuit
2-in-1 P-sensors for smartphones
√ IR LED standard ABL + P-sensors
√ IR LED gesture control ABL + P-sensors
Proximity Sensors
 supports both 2D & 4D
√ Laser P-sensors with small sensor holes
CMOS circuit
MEMS sensors
Accelerometers
CMOS Circuit
MEMS Process
Q4 2013 MP
Tablet market
 20M pcs (2014)
Q4 2014 MP
Smartphone market
5
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SOC
Touch Products
Industrial
C-Touch
•Central Information Display (CID)
•Audio
•Rear-seat Entertainment Systems
Touch + DDI
total solution
Automotive
STN / Mono TFT
•Audio
•Dashboard
Color TFT
•Central Information Display (CID)
•Navigation
•Rear-seat Entertainment Systems
In-cell touch  TDDI
• Smartphone display driver with touch
Smartphone
6
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SOC
-- DSP (digital audio)
8/16/32 bit MCU
-- Card reader (e-Payment)
SOC
-- AC side power management & PWM IC
Power Management IC
7
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Industrial Display Driver ICs
Office Automation &
Home automation
Industrial Instruments
Industrial display driver IC shipment

Portable medical devices /
Healthcare products /
Wearable & sports devices
>250M pcs
8
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Automotive display driver IC
Segment TN
< 6 inch display
7~ 9 inch display
Character TN
Graphic STN
Mono TFT
Color TFT
9
Sitronix Confidential. Do Not Copy or Distribute.
Supplier of IOT devices and solutions
Mobile internet devices
Mobile payment
Smart home
Smart grid
Sitronix Confidential. Do Not Copy or Distribute.
Smart city
Intelligent transportation systems
Electric vehicles
Internet of cars
10
High product variety
new applications
TN / STN / mono TFT / color
TFT display driver IC
ABL sensors / P-sensors /
G-sensors / e + G-sensors…
Power IC / Touch IC /
e-Payment MCU systems...
Wearable devices
11
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Revenue by product type (quarterly)
季營業額依產品別
19.8 %
Q1-Q3
11%
22.4 %
Q1-Q3
31%
Q1-Q3
58%
2012
Sitronix Confidential. Do Not Copy or Distribute.
2013
2014
2,098 2,082 2,473
2015
12
Monthly revenue, 2013 - 2015
(K)
ntd
1
2
3
4
5
6
7
8
9
10
11
12
Total
2013
481,202
360,529
562,878
514,822
470,939
436,088
533,193
559,603
610,670
611,181
587,379
609,179
Quarterly
amount
2014
YoY Quarterly
Month amount
15.0%
1,404,609
553,150
416,200
560,904
19.0%
1,421,849
612,759
610,847
574,885
18.7%
1,703,466
632,679
689,981
762,372
21.1%
1,807,739
739,879
700,228
741,265
7,595,150
19.8%
6,337,663
Unit: NTD thousand
Accounting standard: IFRS
Sitronix Confidential. Do Not Copy or Distribute.
15.4%
-0.4% 1,530,254
29.7%
31.8% 1,798,491
23.3%
24.8% 2,085,032
19.2%
21.7% 2,181,372
2015
YoY
Month
790,106
528,502
780,067
42.8%
737,812
641,564
703,388
20.4%
770,813
811,272
891,903
21.8%
851,738
860,924
898,019
15.1%
9,266,108
22.0%
Quarterly
amount
27.0%
39.1%
37.1%
2,098,675
5.0%
22.4%
15.8%
2,082,764
17.6%
17.0%
18.7%
2,473,988
22.9%
21.1%
YoY
Quarter
19.7%
2,610,681
22.0%
Jan. – Dec.
Revenue YoY
22.0%
13
Revenue & EPS review, 2012 - 2015
2,610
9266M
2015
2,473
7595M
2,098
2014
2,082
2015
6338M
2013
2014
5178M
2012
2013
Q1-Q3 (2015)
EPS YoY
2012
Year
22.2%
Q1
EPS
Q2
GM
EPS
2015
1.65 29% 1.33
2014
1.22 29% 1.23
2013
0.72 24% 0.77
2012
0.61 29% 0.87
Sitronix Confidential. Do Not Copy or Distribute.
Q3
Q4
Annual
GM
EPS
GM
EPS
25%
1.97
1.60
0.99
0.78
26%
4.95
1.97 27% 6.02
1.15 23% 3.63
0.74 24% 3.01
27%
26%
26%
26%
24%
24%
GM
EPS
GM
27%
27%
24%
25%
14
2015 Growth  Mobile DDI + SOC ( P + G sensors )
19.8 %
22.4 %
Sensors 10%
13.3 %
2016 target
10,000M ntd
SP DDI – 8%
FP DDI -- 43%
Unit: M NTD
15
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Just-released & upcoming DDIs
New:
Small size DDI
Medical / healthcare products
Wearable / sports / IOT devices ….
Feature phones
Smartphone DDI
HVGA 480x320 (Q4 14 MP)
WVGA 800x480 (Q4 13 MP)
HD720 1280x720 (Q4 14 MP)
Industrial DDI
< 5 inch
New:
HVGA 480x320
WVGA 800x480
HD720 1280x720
FHD 1920x1080
- Zero Cap.
- Zero Cap.
- Zero Cap. (Q1-Q2 16)
- Zero Cap.
New:
> 6 inch display drivers
Automotive DDI < 6 inch
New:
7 - 9 inch display drivers
16
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Just-released & upcoming sensors
Heartbeat detection
App U/I
Android OS
Blood oxygen detection
Samsung
Display
Galaxy Note 4
1440*2560,
515ppi , 5.7 inch
Others
Heart beat detection
Blood Oxygen detection
UV detection
Light sensors 2016
Light sensors 2015
ABL + P-sensors (IR LED)
ABL + P-sensors with gesture (IR LED)
ABL + P-sensors with small sensor holes (laser)
MEMS sensors 2015
G-sensors in tablets & smartphones
Sitronix Confidential. Do Not Copy or Distribute.
ABL + P-sensors (IR LED)
ABL + P-sensors with gesture (IR LED)
ABL + P-sensors with small sensor holes (2.4 x 1.2 m/m)
ABL + P-sensors with small sensor holes (2.0 m/m)
ABL + P-sensors with small sensor holes (1.5 m/m)
MEMS sensors 2016
G-sensors (2 x 2) in smartphones
G-sensors + e-Compass in smartphones
17
Application penetration by product line
Consumer
Industrial
Automotive
STN DDI
V
V
V
s-TFT DDI
V
V
V
m-TFT DDI
V
V
V
Touch
controllers
V
V
-
Power ICs
V
V
-
MCU / DSP
V
-
-
Light sensors
V
-
-
MEMS sensors
V
-
-
Product line
18
Sitronix Confidential. Do Not Copy or Distribute.
Thank you
Investor Relations Officer
Vivian Mao 毛廷方
Tel: +886-2-2659 1276 ext 2395
E-mail: [email protected]
Strategic Marketing Director
Jacky Chou 周德雲
Tel: +886-2-2659 1276 ext 2206
E-mail: [email protected]
Website: http://www.sitronix.com.tw
Taipei office: 6F., No. 608, Ruiguang Rd., Neihu Dist., Taipei City 114, Taiwan
台北市內湖區瑞光路608號6樓
19
Sitronix Confidential. Do Not Copy or Distribute.
Q3 2015 consolidated income statement (合併營收季報)
Item
Net Sales
(營業收入淨額)
3Q15
2Q15
1Q15
Results
Results
Results
2,474,988
2,082,764
2,098,675
2015
1-9
4Q14
3Q14
2Q14
1Q14
Results
Results
Results
Results
6,656,427
2,181,372
2,085,033
1,798,491
2014
Total
1,530,254 7,595,150
Gross Profit
(銷貨毛利)
651,189 26%
525,675 25%
609,386 29% 1,786,250
591,124
539,932
497,039
437,647 2,065,742 27%
Operating
Expense
(營業費用)
405,156 16%
350,335 17%
366,214 18% 1,121,705
385,002
335,410
311,214
285,622 1,317,248 17%
Operating
Income
(營業淨利)
246,033 10%
175,340 8%
243,172 11%
664,545
206,122
204,522
185,825
152,025
748,494
10%
Income before
Tax
(稅前淨利)
300,896 12%
179,122 8%
241,853 12%
721,871
269,520
231,901
177,955
168,400
847,776
11%
Net Income
(淨利)
242,063 10%
153,078 7%
197,709 9%
592,850
237,017
195,579
146,576
139,402
718,574
10%
4.95
1.97
1.60
1.23
1.22
6.02
EPS(元)
1.97
1.33
2015
註:採用 IFRS 編制基礎。
1.65
2014
20
Q3 2015 consolidated balance sheet (合併資產負債表)
Item
2015/9/30
2015/6/30
2015/3/31 2014/12/31 2014/9/30 2014/6/30 2014/3/31
Total Assets
(資產總計)
6,515,668
7,299,798
6,788,601
6,322,702
5,428,314
5,350,411
5,422,818
4,808,743
5,614,364
5,058,980
4,626,392
4,140,921
4,102,502
4,167,250
Cash & Equivalents
(現金及約當現金)
1,127,178
1,260,175
1,285,325
1,198,436
1,461,285
839,208
1,232,547
AR
(應收帳款)
1,056,958
943,147
994,373
913,775
894,974
753,387
707,720
Inventory
(存貨)
1,486,743
1,759,585
1,317,271
1,048,468
935,256
1,213,008
1,332,576
Total Liability
(負債總計)
2,385,566
3,487,090
2,509,965
2,232,944
1,607,721
1,698,321
1,575,554
972,241
1,293,716
1,054,514
964,759
812,049
675,301
794,596
4,130,102
3,812,708
4,278,636
4,089,758
3,820,593
3,652,090
3,847,264
Current Assets
(流動資產)
AP
(應付帳款)
Shareholder Eqt.
(股東權益)
21
註:採用 IFRS 編制基礎。