Aac Technologies Holdings Inc. · HKEX:2018
Aac Technologies — Q1 2020 Earnings Presentation
20 slides from Aac Technologies's earnings presentation, May 15, 2020
Slide 1: 2020 1Q Results
AAC TECHNOLOGIES HOLDINGS INC. (Incorporated in the Cayman Islands with limited liability) (Stock code: 2018 HK) 2020 1Q Results 15 May 2020
Slide 2: 1Q 2020 Highlights
1Q 2020 Highlights (RMB million) Revenue Gross Profit GP Net Margin Profit 1Q2020 3,560 823 23.1% 53 1Q2019 3,753 1,129 30.1% 432 YoY -5.1% -27.1% - 7.0 p.p -87.8% RMB（million） 1Q20 Revenue Breakdown Impact of COVID-19 outbreak: operation and production significantly affected during Q1; Optics , 2
Slide 3: Effective Financial Management & Solid Cash Position
Effective Financial Management & Solid Cash Position Operating cash inflow of RMB1.08 billion for 1Q2020, well covered the capital expenditure of RMB1.01 billion; The Group remained prudent in the financial management, and proactively managed the cashflow and liquidity by rigorously reviewing th
Slide 4: Performance by Business Segments
Performance by Business Segments
Slide 5: Optics – Delivering Growth
Optics – Delivering Growth Review: 1Q20 revenue +61.7% YoY to RMB245 million in 1Q20. GP Margin grew to close to 10%, continuing its uptrend. Plastic Lens: Yield and production efficiencies improving on the back of - (1) Big data modeling, simulation, and automation capabilities; (2) High precision
Slide 6: Acoustics
Acoustics Performance in 1Q20 Outlook 1Q 2020 revenue and gross profit margin Stereo acoustics has become a standard feature declined by 24.3% and 6.8 ppts YoY, to for flagship smartphone models, and has gradually RMB1.42 billion and 26.0%, respectively. penetrated into mid- to low-end models.
Slide 7: Electromagnetic Drives (ED) & Precision Mechanics (PM)
Electromagnetic Drives (ED) & Precision Mechanics (PM) Performance in 1Q20 Outlook ED & PM revenue reported a solid YoY growth Prepared for shipment of x-axis haptic motors to Android of +8.1% to RMB1.69 billion. Blended GP models to increase multi-folds to 45 – 50 million units in has narrowed
Slide 8: Micro-electromechanical systems (MEMS)
Micro-electromechanical systems (MEMS) Performance in 1Q20 Outlook Revenue +29.1% YoY to RMB199 million despite COVID-19 impact, Gross margin The Group plans to double the production capacity edged down by 2 ppts to 16.5%. of MEMS microphones in 2020. The strong demand for MEMS microphone Th
Slide 9: Efforts on Sustainability
Efforts on Sustainability Key Benchmarks Disclosure Adhered to International Standards Select Ratings & Rankings BBB GRI Standards ESG data assurance AA Score 76.9/100 <IR> Framework ESG Reporting Guide Alignment on track 60 ESG score TCFD recommendations UNSDGs 8
Slide 10: Efforts on Sustainability (Cont’)
Efforts on Sustainability (Cont’) Major Awards & Recognitions Certificate of Excellence of the Hong Kong Sustainability Award 2018/19 Organization Award Special Mention in the H-share Best ESG Report (Large Cap) Companies and Other Mainland Best in Reporting (Large Cap) Citation for Enviro
Slide 11: Appendix
EERIE PRA) AAC TECHNOLOGIES HOLDINGS INC.
Slide 12: Appendix - AAC’s Key Product Lines
Appendix - AAC’s Key Product Lines Acoustics MEMS 平台 Including： 1 2 3 Products Products Speaker Receiver Acoustic MEMS System MEMS ASIC chip RF Tuner Design Modules Microphone Optics Electromagnetic Drives Products WLG Hybrid Plastic Camera Lens Lens Module Products Motor Exciter, Stepper motor audi
Slide 13: Appendix - Major Segments Creating Synergies Together
Appendix - Major Segments Creating Synergies Together Optics Metal Casing/ MEMS Acoustics Haptics/ RF Solutions 3D Glass Components ED Components In-house Integrated Electromagnetic RF Front-end Special Metallic Seamless Expertise Integration Moulding Design • Develop total solutions by cross-platfo
Slide 14: Appendix – Diversified Manufacturing Bases
Appendix – Diversified Manufacturing Bases Czech Republic Kozomín (under development) Optics Moulding Jiangsu Changzhou Acoustics Electromagnetic Drives Optics Precision Mechanics Shuyang Malaysia Acoustics Electromagnetic Drives Precision Mechanics Malaysia (under development) Suzhou Optics Mouldin
Slide 15: Appendix – Investing in Future Sustainable Growth
Appendix – Investing in Future Sustainable Growth No. of Patents 6,000 4,885 Korea 5,000 Denmark Japan Suwon US Copenhagen 4,000 Osaka Aalborg Irvine Finland 3,000 China Turku Tampere Beijing, 2,000 Wuhan, Singapore Nanjing, Changzhou, 1,000 Suzhou, Shanghai, - Shenzhen FY14 FY15 FY16 FY17 FY18 FY19
Slide 16: Appendix – Financial Summary: P&L
Appendix – Financial Summary: P&L RMB Million Q1 2020 Q1 2019 Revenue 3,560 3,753 Cost of goods sold (2,737) (2,623) Gross profit 823 1,129 Gross margin % 23.1% 30.1% GM% excluding non-recurring items 24.1% 30.1% Other income, gains and losses 130 64 Fair value gain on financial assets at FVTPL - 2
Slide 17: Appendix – Financial Summary: Balance Sheet
Appendix – Financial Summary: Balance Sheet As at 31 March 2020 As at 31 December 2019 Non-current assets Property, plant and equipment 17,034 16,911 Right-of-use assets 1,108 1,072 Goodwill 164 164 Deposits made for acquisition of PPE 705 455 Investment property 13 14 Equity instruments at FVTOCI 3
Slide 18: Appendix – Financial Summary: Operating Cashflow
Appendix – Financial Summary: Operating Cashflow Q1 2020 Q1 2019 RMB Million Profit before taxation 129 494 Adjustments: 657 583 Operating cash flows before movements in working capital 787 1,077 Decrease in trade and other receivables 983 980 Increase in contract liabilities 1 1 Decrease in trade a
Slide 19: Investors information
Investors information STOCK CODE CONTACT INVESTOR RELATIONS The Stock Exchange of Hong Kong Limited: Company website: https://www.aactechnologies.com/en/ 2018 Bloomberg: 2018: HK Email : aac2018@aactechnologies.com Reuters: 2018.HK Official IR wechat: ISIN: KYG2953R1149 MAJOR MARKET INDEXES Constitu
Slide 20: Disclaimer
Disclaimer The performance and the results of operation of AAC Technologies set out in this presentation are historical in nature and past performance is not a guarantee of future performance. Certain statements made herein are forward-looking or which use certain forward-looking terminologies.
AAC Technologies Holdings — Q1 2020 Earnings Presentation on 6ix