AI assistant
Orient Semiconductor Electronics, Ltd. — Interim / Quarterly Report 2024
Jun 17, 2024
52010_rns_2024-06-17_b6dfe1a9-5e39-4514-ac80-d148cbc6c210.pdf
Interim / Quarterly Report
Open in viewerOpens in your device viewer
==> picture [192 x 354] intentionally omitted <==
華泰電子股份有限公司 Orient Semiconductor Electronics ,Ltd. （股票代號：2329）
Summary Part 1 Company Profile Part 2 Manufacture Service & Product Part 3 2024 Q1 Financial Performance Part 4 Competitive Advantage Part 5 Q&A
2/22
==> picture [169 x 91] intentionally omitted <==
Company Profile
==> picture [720 x 158] intentionally omitted <==
3/22
==> picture [52 x 95] intentionally omitted <==
Company History
==> picture [325 x 339] intentionally omitted <==
2024
53th Anniversary Celebration
2015 & 2020 Strategic Partnership Announcement
2014
1st 16D microSD in the world
2005
Biz Transformation into Memory Market
2000
HQ Building Officially Opened
Apr, 1994 IPO in Taiwan Stock Exchange (TSE: 2329)
1971 Established Founder : Dr. Eugene C. Y. Duh Headquarters : Kaohsiung, Taiwan
資本額 Capital : US$ 235M(NTD7.35B) Common Stock : US$ 178M(NTD5.55B) Preferred C Stock : US$ 57M(NTD1.80B)
4/22
==> picture [52 x 95] intentionally omitted <==
Factory
==> picture [185 x 117] intentionally omitted <==
==> picture [185 x 117] intentionally omitted <==
6 Production buildings in NTIP Headcount : around 5,200
Headquarters (Flash Memory) (750,000 sq. ft.)
Facility 2 (59,223 sq. ft.)
==> picture [185 x 117] intentionally omitted <==
==> picture [185 x 117] intentionally omitted <==
Facility 3 (158,638 sq. ft.)
LIC (256,200 sq. ft.)
Facility 1 (146,475 sq ft.)
==> picture [186 x 117] intentionally omitted <==
==> picture [185 x 117] intentionally omitted <==
Facility 5 (190,000 sq. ft.)
5/22
==> picture [52 x 95] intentionally omitted <==
Organization
==> picture [702 x 366] intentionally omitted <==
----- Start of picture text -----
Chairman
Tony Tung
President
C. J. Tu
Testing Group Semiconductor Group EMS Group
Terry Lin M. L. Tsai Major Lee
• Memory IC Testing Service • Memory IC Packaging Service
• EMS Service
• Logic IC Testing Service • Logic IC Packaging Service
----- End of picture text -----
6/22
==> picture [169 x 91] intentionally omitted <==
Manufacture Service & Product
7/22
==> picture [52 x 95] intentionally omitted <==
Total Solution
IC Packaging & Testing Service
Drop Shipment Dry Pack Tape & Reel
==> picture [125 x 72] intentionally omitted <==
==> picture [151 x 78] intentionally omitted <==
Final Test
==> picture [112 x 141] intentionally omitted <==
Assembly
Wafer Grinding
Wafer Probing
8/22
==> picture [52 x 95] intentionally omitted <==
==> picture [80 x 38] intentionally omitted <==
Total Solution
Electronics Manufacturing Service
==> picture [140 x 146] intentionally omitted <==
==> picture [140 x 128] intentionally omitted <==
==> picture [140 x 128] intentionally omitted <==
==> picture [140 x 140] intentionally omitted <==
JDM, DFM, DFT NPI & Quick Turn Material Prototyping Procurement
Product Design from Customer
PCB Assembly
==> picture [140 x 122] intentionally omitted <==
==> picture [140 x 134] intentionally omitted <==
==> picture [124 x 122] intentionally omitted <==
==> picture [140 x 134] intentionally omitted <==
==> picture [140 x 122] intentionally omitted <==
Functionality & Reliability Testing
Repair and Distribution System Box Build Upgrade Support Integration
9/22
OSE CONFIDENTIAL
==> picture [52 x 95] intentionally omitted <==
Product & Application
==> picture [716 x 326] intentionally omitted <==
----- Start of picture text -----
CSP/SIP
----- End of picture text -----
10/22
==> picture [169 x 91] intentionally omitted <==
2024 Q1
Financial Performance
11/22
==> picture [52 x 95] intentionally omitted <==
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (QoQ)
| (Thousands of NTD) Net revenue Gross profit Operating income Income before tax Income tax(expense) Non controlling interests Net Income Basic EPS (in NTD) EBITDA |
Q1/2024 % 4,176,029 100.00% 826,627 19.79% 518,217 12.41% 622,033 14.90% (122,684) (2.94%) - - 499,349 11.96% 0.70 - 843,720 20.20% |
Q4/2023 % 4,736,282 100.00% 1,189,929 25.12% 845,507 17.85% 754,941 15.94% (154,511) (3.26%) - - 600,430 12.68% 0.86 - 988,705 20.88% |
Variance |
|---|---|---|---|
| (11.83%) (30.53%) (38.71%) (17.61%) (20.60%) - (16.83%) - (14.66%) |
12/22
==> picture [52 x 95] intentionally omitted <==
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (YoY)
| (Thousands of NTD) Q1/2024 % Net revenue 4,176,029 100.00% Gross profit 826,627 19.79% Operating income (loss) 518,217 12.41% Income (loss) before tax 622,033 14.90% Income tax (expense) gains (122,684) (2.94%) Non controlling interests - - Net Income 499,349 11.96% Basic EPS (in NTD) 0.70 - EBITDA 843,720 20.20% |
Q1/2023 % 3,253,411 100.00% 321,407 9.88% 101,004 3.10% 97,749 3.00% 81,972 2.52% - - 179,721 5.52% 0.25 - 375,060 11.53% |
Variance |
|---|---|---|
| 28.36% 157.19% 413.07% 536.36% (249.67%) - 177.85% 180.00% 124.96% |
13/22
==> picture [52 x 95] intentionally omitted <==
Key Items & Index of Balance Sheet
| (Thousands of NTD) Cash and cash equivalents Financial assets measured at amortized cost Financial assets-Noncurrent & Investments-equity method Property, plant, and equipment Total assets Short-term loans & Short-term notes payable Long-Term Liabilities-Current Portion Long-term loans Total liabilities Total stockholders’ equity Quarterly EBITDA Index Debt ratio Accounts receivable turnover days(Q1) Inventory turnover days(Q1) |
Q1/2024 4,281,821 - 2,055,652 5,370,723 19,259,288 - 181,555 1,104,503 8,187,583 11,071,705 843,720 42.51% 99Days 43Days |
Q4/2023 3,909,728 - 1,839,213 5,081,550 18,467,008 - 107,054 1,131,908 7,193,165 11,273,843 988,705 38.95% 85Days 41Days |
Variance 9.52% - 11.77% 5.69% 4.29% - 69.59% (2.42%) 13.82% (1.79%) (14.66%) 14/22 |
|---|---|---|---|
==> picture [52 x 95] intentionally omitted <==
Key Items & Index of Balance Sheet
| (Thousands of NTD) Cash and cash equivalents Financial assets measured at amortized cost Financial assets-Noncurrent & Investments-equity method Property, plant, and equipment Total assets Short-term loans & Short-term notes payable Long-Term Liabilities-Current Portion Long-term loans Total liabilities Total stockholders’ equity Quarterly EBITDA Index Debt ratio Accounts receivable turnover days(Q1) Inventory turnover days(Q1) |
Q1/2024 4,281,821 - 2,055,652 5,370,723 19,259,288 - 181,555 1,104,503 8,187,583 11,071,705 843,720 42.51% 99Days 43Days |
Q1/2023 3,292,177 - 1,313,702 5,128,296 16,191,118 - 2,904 1.146,058 6,043,678 10,147,440 375,060 37.33% 84Days 52Days |
Variance |
|---|---|---|---|
| 30.06% - 56.48% 4.73% 18.95% - 6,151.89% (3.63%) 35.47% 9.11% 124.96% |
15/22
==> picture [52 x 95] intentionally omitted <==
IC Packaging and Testing Services
(Thousands of NTD)
==> picture [669 x 317] intentionally omitted <==
----- Start of picture text -----
3,500,000 100%
3,117,660
3,157,307
2,922,271 90%
3,000,000
2,722,849 80%
2,588,094
2,314,593
2,500,000 2,148,511 70%
2,063,876
68% 68% 67% 66% 60%
2,000,000 63% 62%
61%
60% 50%
1,500,000
40%
30%
1,000,000
20%
500,000
10%
- 0%
Q2/2022 Q3/2022 Q4/2022 Q1/2023 Q2/2023 Q3/2023 Q4/2023 Q1/2024
Revenue % of Total Revenue
----- End of picture text -----
16/22
==> picture [52 x 95] intentionally omitted <==
Electronics Manufacturing Services
(Thousands of NTD)
| - 500,000 1,000,000 1,500,000 2,000,000 2,500,000 |
1,365,948 1,494,344 1,447,102 1,189,535 1,275,817 1,544,770 1,618,622 1,587,935 32% 39% 40% 37% 32% 33% 34% 38% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Q2/2022 Q3/2022 Q4/2022 Q1/2023 Q2/2023 Q3/2023 Q4/2023 Q1/2024 Revenue % of Total Revenue |
|---|---|
17/22
==> picture [52 x 95] intentionally omitted <==
Semiconductor Group -Percentage of revenue by product application
==> picture [642 x 359] intentionally omitted <==
----- Start of picture text -----
100%
8% 10% 9% 9% 7% 8% 7% 9%
14% 16% 15% 15% 14% 15%
80% 22% 18%
60%
40% 76% 75% 78% 77% 79% 76%
70% 72%
20%
0%
Q2/2022 Q3/2022 Q4/2022 Q1/2023 Q2/2023 Q3/2023 Q4/2023 Q1/2024
Memory Related Logic IC IC Testing
----- End of picture text -----
18/22
==> picture [169 x 91] intentionally omitted <==
Competitive Advantage
19/22
==> picture [292 x 503] intentionally omitted <==
==> picture [54 x 56] intentionally omitted <==
==> picture [51 x 51] intentionally omitted <==
==> picture [51 x 51] intentionally omitted <==
- Capable of both IC & EMS / One-Stop Service.
- Sufficient experience with worldclass customers working with us.
- Advanced Process Capability
- 25um wafer thickness
-
16 Layers Die Stacking for micro SD/BGA/SD
-
Sip / Flip Chip / Wire Bond / Module Availability -High-end Technology
-
Digitalization
- MES Automation System
- Customer Oriented & Customization - High Degree of Flexibility on capacity allocation
20/22
==> picture [169 x 91] intentionally omitted <==
Q&A
21/22
==> picture [169 x 91] intentionally omitted <==
Disclaimer
The presentation and the relevant information mentioned in this material have been compiled from both internal and external resources. These forward looking statements involve known and unknown risks, uncertainties and other factors, including price variation, competition, global economy, exchange rate movement and market demand, which may cause actual results to differ materially from those implied by such forward-looking statements.
The forward looking statements expressed in this material reflect the Company’s current view about the future as of today. The Company is not responsible for any updates if there are any changes in the future.
22/22