King Yuan Electronics Co., Ltd. · TWSE:2449
King Yuan Electronics — Q4 2022 Earnings Presentation
17 slides from King Yuan Electronics's earnings presentation, March 2023
Slide 1: Benchmark of The Testing Industry
Benchmark of The Testing Industry King Yuan Electronic Co., Ltd. 京元電子股份有限公司 [TWSE: 2449] March, 2023 Wafer Test Service Assembly Service Burn-In Service IC Test Service Backend Support Turnkey Operation
Slide 2: Safe Harbor Notice
Safe Harbor Notice Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual performance, financial condition or results of operations of the Company to be materially different from any future performance, financial condition or results
Slide 3: KYEC group snapshot
KYEC group snapshot Overview Manufacturing footprint in Taiwan & China Established In: May 1987 Headquarters Headquarters: Hsinchu, Taiwan Chu-Nan fab. TWSE Listed: 2449.TW Tung-Luo fab. Market Cap.(1): NT$44,263.4 million Employees: 9,445 KLT & ZKT Suzhou, China Key milestones Began wafer
Slide 4: KYEC is the benchmark of semi testing industry
KYEC is the benchmark of semi testing industry KYEC is uniquely positioned, locally and globally, as a pure-play testing house and aiming to take advantages of the ever-growing outsourced semi testing business. 4,700+ sets of installed test system, including both commercial and in-house 1 developed
Slide 5: IC manufacturing process and KYEC available services
IC manufacturing process and KYEC available services Front-End Manufacturing Laser Repair IC Design/ Wafer IDM Foundry Die Wafer CP Bank Grinding IDM Gold / Solder Bump WL WLBI Cycling Dicing Backend - Marking/ LS Cycling Burn-In - Tape & Reel Customer - Dry Pack Assembly FT Drop Ship Module Test No
Slide 6: Diversified product mix for stable, long-term growth
Diversified product mix for stable, long-term growth In general, test services contributed about 80% of company’s total revenue. Devices tested by KYEC have been widely used in various applications, including consumer, communication, automotive, data computing and industrial … etc. Revenue rec
Slide 7: KYEC services global top tier customers
KYEC services global top tier customers 54% of global top 50 semi companies use KYEC’s test services (US$ Millions) Note: company’s names in blue * are KYEC’s customers Source: Gartner 2021 7
Slide 8: KYEC retains flexible and cost effective test solutions
KYEC retains flexible and cost effective test solutions Current semi testing service provider is demanding on flexibility, cost effective and various platform/capacity for servicing the small-volume business trend. KYEC is standing to take advantage of this market trend for its flexible in test
Slide 9: In-house test systems widely use in mass production
In-house test systems widely use in mass production In general, in-house test system provide a custom-tailored solution flexible in test configuration and programming for device used in various applications. In addition, KYEC designs and manufactures test tooling and probe card in-house. Applica
Slide 10: KYEC developed ovens for burn-in test services
KYEC developed ovens for burn-in test services In-house burn-in ovens provide flexibility, custom tailored test services. Our burn-in oven is able to offer testing under wide range of power/watts for products after one single test setup. Our high-power burn-in oven employs the air-cooling tech
Slide 11: KYEC provides turnkey WLCSP services as well
KYEC provides turnkey WLCSP services as well KYEC’s WLCSP process flow Wafer incoming inspection In addition to wafer testing, KYEC provides wafer grinding, die sawing/laser grooving, AOI and packing services for Wafer Level Chip Scale Wafer Test Package (WLCSP) as well. WLCSP is primarily for a
Slide 12: KYEC group management team with deep industry experience
KYEC group management team with deep industry experience C.K. LEE - Chairman & CEO Over 30 Years of semiconductor industry experience Chairman of KLT (Suzhou) and ZKT (Suzhou) Former Manager of Manufacturing, United Microelectronics Corporation Bachelor of Department of Shipping &Transportat
Slide 13: Financial highlights
Financial highlights 13
Slide 14: Financial Snapshot
Financial Snapshot (NT$ Millions) 2021 Q3’22 Q4’22 2022 Net Revenue $33,759.4 $9,020.3 $8,849.6 $36,782.0 Gross Margin (%) 30.7% 34.5% 34.3% 35.5% Expenses SG&A $2,542.7 $668.2 $681.4 $2,641.1 R&D $1,202.9 $305.9 $322.5 $1,267.0 EBITDA $15,818.9 $4,454.3 $4,307.7 $18,386.5 EPS – diluted (NT$) $4.18
Slide 15: Healthy business trends and capacity investment
Healthy business trends and capacity investment Revenue EBITDA (NT$ Millions ) (NT$ Millions) 20,000 18,386.5 40,000 33,759.4 36,782.0 15,818.9 35,000 16,000 30,000 28,959.3 13,058.7 25,000 12,000 20,000 15,000 8,000 9,534.2 8,849.6 4,636.9 4,307.7 10,000 4,000 5,000 0 0 2020 2021 2022 Q4 '21 Q4 '22
Slide 16: Optimal financial leverage enhances shareholder interest
Optimal financial leverage enhances shareholder interest Cash Flow from Operations CapEx (NT$ Millions) 20,000 19,030.4 ( NT$ Millions) 18,000 16,000 13,963.1 16,000 13,723.1 14,000 12,402.7 10,935.0 12,000 12,000 10,391.6 10,000 8,000 8,000 6,000 4,945.1 4,570.0 4,000 2,612.0 4,000 1,869.5 2,000 0
Slide 17: Company website
Company website http://www.kyec.com.tw 17
King Yuan Electronics — Q4 2022 Earnings Presentation on 6ix