Slide 1: Presentation Disclaimer
MPI Corporation 6223.TT Presentation Disclaimer The information herein contains forward-looking statements. We have based these forward-looking statements on our current expectations and projections about future events. Although we believe that these expectations and projections are reasonable, such
Slide 2: Company at a Glance
Company at a Glance Advanced Photonics Semiconductor Automation Test (AST) Division Division Established Established 1995 2001 2003 2014 2015 MPI MPI on Thermal Test Corporation Taiwan OTC Division Founded Established Founded July, 25, 1995 Paid-in Capital NTD$ 940M (2021.7.31-the latest ) Employees
Slide 3: Net Sales by Geographic
Net Sales by Geographic Rest of Rest of Europe Asia Asia 7% CHINA 13% 18% CHINA Europe 12% TAIWAN NT$ MM 48% 1% 54% TAIWAN USA 17% USA 20% 8% 4500 2017 2018 2019 2020 2020 2020 3946 3874 4001 4000 LED Equipment Div. Probe card Div. 3500 3407 3000 2500 2074 1997 2000 1649 1491 1500 1000 822 749 822 7
Slide 4: Global Probe Card Market Update
Semi-conductor (Probe Card) 7 Global Probe Card Market Update Epoxy /CPC Memory Applications 35% Advanced P/C Probe Cards Cantilever $217m/1.9% CAGR $1.8 bn in 2019/ CAGR 6.9% 2020-25 Non-Memory Vertical Applications $264m/-3.5% CAGR 65% MEMS $549m/11.5% CAGR 8
Slide 5: Top Probe Card Vendors (2015-2020)
Top 10 Probe Card Vendors (2015-2020) (Rank) 2015 2016 2017 2018 2019 2020 FormFactor, Inc. USA 1 1 1 1 1 1 Micronics Japan Co., Ltd. Japan 2 2 2 3 3 3 Technoprobe Italy 3 3 3 2 2 2 Japan Electronic Materials Japan 4 4 4 4 4 4 MPI Corporation Taiwan 5 5 5 5 5 5 SV TCL Singapore 7 6 6 6 6 7 Microfrie
Slide 6: Product Mix of CPC (Cantilever) and Pin-Shipment
Product Mix of CPC (Cantilever) 80.0% 73.8% 74.1% 71.0% Top 70.0% 94% 66.3% 20 60.0% Top 50.0% 91% 15 40.0% 33.2% 28.7% Top 30.0% 86% 25.9% 25.6% 10 20.0% Top 10.0% 75% 05 0.5% 0.3% 0.3% 0.3% 0.0% 2020'Q2 2020'Q3 2020'Q4 2021'Q1 0% 20% 40% 60% 80% 100% LCD Driver IC Logic Niche Memory 11 CPC Pin-Shi
Slide 7: VPC Pin-Shipment and CPC and VPC Yearly Status
VPC Pin-Shipment PIN 2019 2020 2021 B/B Ratio 1,200,000 1.00 0.89 0.87 0.90 1,000,000 0.77 0.80 0.70 800,000 0.60 600,000 0.50 0.40 400,000 0.30 0.20 200,000 0.10 0 0.00 Jan. Feb. Mar Apr May Jun Jul Aug Sep Oct Nov Dec 13 CPC and VPC Yearly Status PIN CPC VPC Gross Margin % 9,000,000 60% 8,000,000
Slide 8: Gross and Operating Margin Between Global Peers
Gross Margin Between Global Peers 60% 49.6% 50% 43.0% 45.0% 45.3% 43.3% 41.6% 40.9% 40% 37.2% 30% 20% 10% 0% 19Q1 19Q2 19Q3 19Q4 20Q1 20Q2 20Q3 20Q4 F M J MPI 15 Operating Margin Between Global Peers 25% 20% 17.90% 16.40% 15% 12.70% 12.50% 11.10% 11.70% 10% 7.80% 5% 3.70% 0% -5% -10% -15% 19Q1 19Q2
Slide 9: Photonics Automation (LED)
Photonics Automation (LED) 17 Photonics Automation (PA) Overview Product LED, PD, LD, OLED, µLED or other RD > 200 Production Capacity > 150 /month 8 BUs Green 18
Slide 10: Milestone, Main Product Line
Milestone 19 Main Product Line 20
Slide 11: Wafer Technology Migration and 2021 Shipment
Wafer Technology Migration P7202 P7602P P9000 3GS P80C4 4G P9000 4G P9002 NEW A2000P A3000 NEW M76FP M76V M60D 21 2021 Shipment Unit 2019 2020 2021 80 70 67 60 50 46 43 40 40 30 28 25 25 20 19 20 15 15 15 16 14 12 13 11 12 8 10 10 6 7 7 4 6 4 3 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 22
Slide 12: New Business Unit (Thermal/AST)
New Business Unit (Thermal/AST) 23 Thermal • Addressable Market Size: roughly USD$30m • Applied Industries: Telecom / Automotive/Industrial, industrial and semi industries http://www.mpi-thermal.com/media/ 24
Slide 13: AST
Hot and Cold Air Flow Environmental Temperature Test Applications & Industry Segments Semiconductor Automotive Aerospace Telecommunications Fiber Optic Electronics Sensors Advanced Technology AST • Market size: roughly USD$400m • Industry: Foundry/IC design houses’ engineering stage process 26
Slide 14: Financial Statements
Engineering Probe Systems and RF Probe Products 50 – 300 mm 26 – 110 GHz Applications & Industry Segments Device Characterization High Power RF & mmW Design Validation Failure Analysis Wafer Level Reliability Silicon Photonics Laser Cutter Financial Statements 28
Slide 15: Balance Sheet Highlight and Income Statement
Balance Sheet Highlight 2020 2019 Cash and Cash Equivalents 1,445 16% 1103 14% Fixed Assets 3,735 42% 3,362 41% Total Assets 8,976 100% 8,178 100% LT Debt 763 142 Shareholders' Equity 5,648 63% 4,379 54% EBITDA 844 489 *EBITDA=operating income + depreciation & amortization expenses 29 Income Stateme
Slide 16: Thank You
Thank You http://www.mpi-corporation.com