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Eclat Textile Co., Ltd. Interim / Quarterly Report 2023

Nov 10, 2023

51833_rns_2023-11-10_3ec3b2eb-f53e-49e9-9e72-46fa479a312c.pdf

Interim / Quarterly Report

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Eclat Textile Co., Ltd

2023 Q3 Investor Conference Nov. 2023

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1

Safe Harbor Notice

  • The content and related information in this briefing report and the synchronous announcement are sourced from ECLAT’s inner and outer material, including the operation result, financial situation and the business development, et cetera.

  • No financial forecasting is released by ECLAT. Discrepancy may be existed between the actual result in the future and the estimated opinion to the company operation and business developing subjects indicated in this briefing report with respect to the financial, business and Q&A part. The causes of the discrepancy may include the variation of market needs, price fluctuation, competition activities, international economic situation, exchange rate fluctuation, upper and downer stream supply chain, and any other risk factors that beyond ECLAT’s control.

  • The prospects to the future in this briefing report reflect ECLAT’s vision of future. ECLAT is not responsible for any notification or update with regard to any change or adjustment to these prospects in the future.

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2

Contents

  • Company Profile

  • Competitive Advantage

  • Global Strategy

  • Main Products

  • Financial Overview

  • Q&A

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3

Company Profile

  • Year of establishment Nov. 28, 1977

  • Capital US$ 91,000,000 (TWD$ 2,744 million)

  • Chairman/CEO

  • Mr. C.H. Hung

  • Group employee

  • 1,800 employees in Taiwan ; 15,200 employees overseas

  • Status

  • IPO in Taiwan Stock Market, 2001 (TWSE: 1476)

  • Main products

Provide the vertical integration supply chain including knitting, dyeing, finishing, and garment making. Specialize in functional elastic circular knitting fabrics and garments for performance and sportswear.

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4

Competitive Advantage

  • Global strategy to shorten the lead-time and strengthen competition.

  • R&D Technicians attend to the task to provide more than 3,000 new fabrics per year.

  • Quick response to produce 150 pieces of sample per day.

  • Deeply collaborative development with the first tier international brand and built up a strategy partner relationship with our customers.

  • Advantage of production economies of scale and vertical integration.

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5

Global Strategy

  • Headquarters

New Taipei City, Taiwan

  • Fabric mill bases

Taiwan and Vietnam – Total 2 bases

  • Garment factories

、 、 、 Vietnam Cambodia Lesotho China and Indonesia – Total 18 factories

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6

Vertical Integration

• Fabric mill Monthly capacity 15,000,000 yards Taiwan: 8,000,000 yards/month Vietnam: 7,000,000 yards/month

  • Garment factories Monthly capacity 11,200,000 pieces

  • Total monthly capacity 7,000,000 pieces Vietnam： Eclat Textile Co., Ltd (Vietnam) Colltex Garment Mfy Co., Ltd (VN). E-Top (Vietnam) Co., Ltd. Tai-Yuan Garments Co., Ltd. Indonesia： PT Eclat Textile International Cambodia：Eclat Textile (Cambodia) Co., Ltd.

  • Sub-Contractor monthly capacity 4,200,000 pieces

Supply Chain

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----- Start of picture text -----

Raw material
Knitting
Dye and
finishing
Garment
Customers
Vertical Integration at Eclat
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7

Fabric Products

Eclon® - Developed by Eclat

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Body Care® - Functional series

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X-POLE ® - Outdoor series

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It feels and looks like natural cotton, also permeable to air and soft. It provides unlimited possibilities for new creations in fashion design, including T-shirts, tight clothes, dresses, aerobic outfits, etc.

Moisture Management, Anti-bacterial function, High compression, Lycra sport, Anti-pilling, UV-cut, 3X dry .

Thermal control, warm & cool, Water proof & breathable, Lightweight knitting, Wind block knitting, Knitting lamination, Anti-snagging, UV-cut.

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8

Garment Products

Performance

Made with ecofriendly materials, organic & recycle polyester.

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Athleisure

Multi-function sportswear from gym to street styles.

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Non- sew and welding

Production sites based in both Taiwan and Vietnam.

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Seamless

Design for comfort.

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9

Customer Collaboration

ODM

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  1. Design research

  2. Fabric development

  3. Design sketch for brands

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4. End product
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Design sketch for yoga

Design sketch for training

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10

Quality Control

Four certified laboratories

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Certification

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Bluesign

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ISO 14001

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NIKE

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ADIDAS

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11

Product Creative Center

The process of P.C.C.

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  1. Raw material – yarn

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  1. Pattern making

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  1. Fabric development

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  1. Sampling - sewing

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  1. Customized product design

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  1. Sampling - quality check

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12

Comprehensive Income – 2023Q3 vs 2022Q3

Expressed in Thousands of NTD

Operating revenue
Operating costs
Gross profit from operations
Operating expenses:
Selling expenses
Administrative expenses
Research and development expenses
Total operating expenses
Net operating income
Non-operating income and expenses:
Other income
Other gains and losses, net
Finance costs
Interest income
Subtotal
Income before income tax
Less: Tax expenses
Profit
Other comprehensive income:
Exchange differences on translation of
foreign financial statements
Total comprehensive income
Earnings per share (in dollars)		 2023Q3 %
100.00
66.93
33.07
5.31
4.43
0.50
10.24
22.83
0.09
2.88
(0.30)
0.14
2.81
25.64
6.11
19.53
2.56
22.09		 2022Q3 %
100.00
71.00
29.00
4.16
3.54
0.38
8.08
20.92
0.04
4.55
(0.17)
0.03
4.45
25.37
5.22
20.15
3.60
23.75		 Diff.
Amount
7,972,808
5,336,554
2,636,254
423,027
352,976
40,011
816,014
1,820,240
7,296
229,746
(23,961)
11,533
224,614
2,044,854
486,741
1,558,113
203,848
1,761,961
5.68		 Amount
10,712,675
7,606,511
3,106,164
445,368
379,349
40,785
865,502
2,240,662
4,511
498,581
(18,307)
3,451
488,236
2,728,898
559,008
2,169,890
386,058
2,555,948
7.91		 Amount
%
(2,739,867)
(25.58)
(2,269,957)
(29.84)
(469,910)
(15.13)
(22,341)
(5.02)
(26,373)
(6.95)
(774)
(1.90)
(49,488)
(5.72)
(420,422)
(18.76)
2,785
61.74
(268,835)
(53.92)
(5,654)
(30.88)
8,082
234.19
(263,622)
(53.99)
(684,044)
(25.07)
(72,267)
(12.93)
(611,777)
(28.19)
(182,210)
(47.20)
(793,987)
(31.06)
(2.23)
(28.19)

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13

Comprehensive Income – 2023Q1-Q3 vs 2022Q1-Q3

Expressed in Thousands of NTD

Operating revenue
Operating costs
Gross profit from operations
Operating expenses:
Selling expenses
Administrative expenses
Research and development expenses
Total operating expenses
Net operating income
Non-operating income and expenses:
Other income
Other gains and losses, net
Finance costs
Interest income
Subtotal
Income before income tax
Less: Tax expenses
Profit
Other comprehensive income:
Exchange differences on translation of
foreign financial statements
Total comprehensive income
Earnings per share (in dollars)		 2023Q1-Q3 %
100.00
68.97
31.03
5.20
4.65
0.50
10.35
20.68
0.08
1.48
(0.43)
0.34
1.47
22.15
5.19
16.96
1.27
18.23		 2022Q1-Q3 %
100.00
72.07
27.93
3.69
3.15
0.37
7.21
20.72
0.03
3.03
(0.12)
0.03
2.97
23.69
4.73
18.96
2.40
21.36		 Diff.
Amount
22,291,528
15,375,262
6,916,266
1,159,645
1,036,312
112,083
2,308,040
4,608,226
17,238
329,552
(96,551)
74,811
325,050
4,933,276
1,156,443
3,776,833
282,057
4,058,890
13.77		 Amount
32,105,868
23,138,537
8,967,331
1,247,563
1,042,068
117,819
2,407,450
6,559,881
9,694
974,006
(37,258)
9,714
956,156
7,516,037
1,517,840
5,998,197
771,093
6,769,290
21.86		 Amount
%
(9,814,340)
(30.57)
(7,763,275)
(33.55)
(2,051,065)
(22.87)
(87,918)
(7.05)
(5,756)
(0.55)
(5,736)
(4.87)
(99,410)
(4.13)
(1,951,655)
(29.75)
7,544
77.82
(644,454)
(66.17)
(59,293)
(159.14)
65,097
670.14
(631,106)
(66.00)
(2,582,761)
(34.36)
(361,397)
(23.81)
(2,221,364)
(37.03)
(489,036)
(63.42)
(2,710,400)
(40.04)
(8.09)
(37.01)

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14

Sales Revenue – Monthly

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15

Sales Revenue – Quarterly

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16

Sales Revenue Composition

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17

Analysis of Profitability Ratios

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18

Analysis of Receivables

(Expressed in Thousands of NTD)

1. Age of receivables：

receivables：
Current
Within 30 days past due
31~120 days past due
Over 121 days past due
Allowance for doubtful accounts
Total
e collection days :
Net sales
Beginning receivables
Ending receivables
Receivables turnover
Days sales outstanding		 Fabric
Garment
879,368
3,067,563
109,933
307,262
41,242
7,311
427
0
(8,921)
(15,165)
1,022,050
3,366,970
Fabric
Garment
8,233,736
14,057,792
786,990
3,013,026
1,022,050
3,366,970
12.14
5.88
30 Days
62 Days
2023/09/30
2023 Q1-Q3		 Fabric
Garment
652,965
2,756,779
82,561
261,823
66,205
3,337
415
17
(15,156)
(8,930)
786,990
3,013,026
Fabric
Garment
14,961,822
24,774,351
1,252,052
3,625,159
786,990
3,013,026
14.68
7.46
25 Days
49 Days
2022/12/31
Annual 2022		 2022/09/30
Fabric
Garment
1,039,504
3,319,039
138,276
451,833
50
98,553
0
1,815
(8,430)
(15,656)
1,169,400
3,855,584
2022 Q1-Q3
Fabric
8,233,736
786,990
1,022,050
12.14
30 Days		 Fabric
14,961,822
1,252,052
786,990
14.68
25 Days		 Fabric
Garment
12,183,885
19,921,983
1,252,052
3,625,159
1,169,400
3,855,584
13.42
7.10
27 Days
51 Days

2. Average collection days :

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19

Analysis of Inventories

(Expressed in Thousands of NTD)

1. Details of inventories:

of inventories:
Raw materials
Supplies
Work in progress
Finished goods
Sub total
Allowance to reduce inventory to market
Net inventories		 Fabric
Garment
727,873
1,875,213
34,224
498,289
1,077,006
260,895
136,352
101,236
1,975,455
2,735,633
(19,412)
(1,817)
1,956,043
2,733,816
2023/09/30		 Fabric
Garment
907,225
1,635,006
37,303
490,809
1,150,743
233,218
133,445
56,015
2,228,716
2,415,048
(18,494)
(94)
2,210,222
2,414,954
2022/12/31		 2022/09/30
Fabric
727,873
34,224
1,077,006
136,352
1,975,455
(19,412)
1,956,043		 Fabric
907,225
37,303
1,150,743
133,445
2,228,716
(18,494)
2,210,222		 Fabric
Garment
946,356
2,022,053
32,600
513,261
1,189,608
147,387
139,431
15,758
2,307,995
2,698,459
(18,588)
(6,092)
2,289,407
2,692,367

2.Days sales outstanding:

ales outstanding:
Cost of Good Sold
Beginning Inventory
Ending Inventory
Inventory turnover
Days sales of inventory		 Fabric
Garment
5,620,796
9,754,466
2,210,222
2,414,954
1,956,043
2,733,816
3.60
5.05
101 Days
72 Days
2023 Q1-Q3		 Fabric
Garment
10,869,764
17,801,082
3,593,196
4,683,112
2,210,222
2,414,954
3.75
5.02
97 Days
73 Days
Annual 2022		 2022 Q1-Q3
Fabric
5,620,796
2,210,222
1,956,043
3.60
101 Days		 Fabric
10,869,764
3,593,196
2,210,222
3.75
97 Days		 Fabric
Garment
8,800,134
14,338,403
3,593,196
4,683,112
2,289,407
2,692,367
3.99
5.18
91 Days
70 Days

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20

Thank You Q & A

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