Fusheng Precision Co. Ltd. · TWSE:6670
Fusheng Precision — Q1 2023 Earnings Presentation
15 slides from Fusheng Precision's earnings presentation, Jun 29, 2023
Slide 1: Fusheng Precision Co. Ltd.
Fusheng Precision Co. Ltd. TWSE：6670 2023/Q1 Jun. 29, 2023 1
Slide 2: Company Profile, Financial Performance, Key Messages, Q&A
Company Profile Financial Performance Key Messages Q&A 2
Slide 3: Fusheng Group Key Milestones
Fusheng Group Key Milestones 1953 1992 2001 2004 2010 2018/7 2018/12 Fusheng Group Set up GS in China Established Acquired and set Group Restructuring Invested NFT FSP listed in founded Electronics Division up FSPT Became the first off- Fusheng Precision: An aerospace casting TWSE The founding busin
Slide 4: Our Plant Sites
股票代號：6670 Our Plant Sites Zhongshan Aubo (Golf Club Head Accessories) Zhongshan Worldmark Headquarter & Taoyuan Factory 1,000+ (TiW front-end/Forge/IPP) (TiW back-end/MW&IR whole process/Carbon Fiber) 800+ 6,000+ Vietnam Vision FS Precision Tech (MW&IR whole process (Automotive/Aerospace Products) /
Slide 5: Major Customers
Major Customers My ae Collins Aerospace GE Aviation id E.TeN BAUER ce [- ©Fujikura Pate Arras uo ere H@ WMA. ZINN PRs © YAMAHA ® DUNLOP tha h PING S/\ZNG A FUSHENG
Slide 6: Financial Performance
Company Profile Financial Performance Key Messages Q&A 6
Slide 7: Statement of Comprehensive Income
股票代號：6670 Statement of Comprehensive Income (In NT$ millions) 1Q 2023 4Q 2022 QoQ 1Q 2023 1Q 2022 YoY Net Revenue 7,086.8 9,216.7 -23.1% 7,086.8 8,088.7 -12.4% Gross Margin 1,616.7 2,621.0 -38.3% 1,616.7 1,858.0 -13.0% Operating Margin 979.0 1,765.8 -44.6% 979.0 1,214.3 -19.4% Profit before Tax 944.
Slide 8: Operating Performance
股票代號：6670 Operating Performance Sales Net Profit EPS EBITDA GM % EBITDA % 40,000 40 6,000 35% 36.64 5,518 35,000 33,716 35 5,000 30% 30,000 30 4,000 25.6% 3,83825.6% 25,000 23,215 25 22.8% 24.6% 25% 22.6% 3,223 22.9%23.6% 22.8% 2,784 20,000 20 3,000 20.1% 21.6% 16,49917,002 17,201 18.03 19.4% 16,008
Slide 9: Sales by Products
股票代號：6670 Sales by Products In NT$ Millions 35,000 33,716 3% 10% 30,000 5% Others 10% 25,000 23,215 Baseball & Softball bats 4% 10% Aerospace & Automotive Parts 20,000 17,201 4% 16,008 6% Skates & Boots & Protective Gears 5% 5% 14,228 15,000 4% 4% 5% Club Head Accessories 4% 4% 1% 4% 72% 6% Graphite
Slide 10: Balance Sheet
股票代號：6670 Balance Sheet (In NT$ millions) 2023/3/31 % 2022/12/31 % 2022/3/31 % Cash 5,902 27.8% 4,508 20.0% 2,423 12.9% Account Receivables 4,675 22.0% 5,648 25.0% 5,056 26.8% Inventories 2,936 13.8% 4,338 19.2% 4,294 22.8% Current Assets 14,208 67.0% 15,462 68.5% 12,492 66.3% PPE 4,963 23.4% 5,015
Slide 11: Key Messages
Company Profile Financial Performance Key Messages Q&A 11
Slide 12: Key Message (1/3) - Golf Industry
股票代號：6670 Key Massage(1/3) - Golf Industry US Rounds Played – 2022 vs. 2021 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec +13.0% • As of May ’23, US rounds played YTD +5.5%. YoY +2.7% +2.5% +3.9% YTD • Total US Golf Equipment Retail Market -0.2% -2.6% -2.5%-2.4% -2.8% -3.7% -7.5% -5.7% -4.0% YTD(t
Slide 13: Key Message (2/3) – Business Outlook by Product
股票代號：6670 Key Massage(2/3) – Business Outlook by Product Golf Club Head (73% of sales) • At this stage, there has not been a significant correction in the end market, but customers and channels have high inventory levels, which will take some time to digest • Revenue pattern goes back to pre-pandemi
Slide 14: Key Message (2/3) – Ex-dividend Schedule
股票代號：6670 Key Massage(2/3) – Ex-dividend Schedule 2022 Dividend：Cash dividend NT$22 per share (The actual distribution amount per share is calculated based on the actual number of outstanding shares on the ex-dividend date.) The last purchase date for dividend：2023/07/20 Ex-dividend trading date：202
Slide 15: Q&A
Company Profile Financial Performance Key Messages Q&A 15