Kian Shen Corporation · TWSE:1525
Kian Shen — Q3 2024 Earnings Presentation
20 slides from Kian Shen's earnings presentation, Nov 20, 2024
Slide 1: Kian Shen Corporation Investors' Conference
Kian Shen Corporation Investors’ Conference (Stock Code：1525) Presenter：Chiung-Chih,Tseng General Manager Nov. 20,2024 1
Slide 2: Disclaimer
Disclaimer This presentation contains forward-looking statements concerning the financial condition, results of operations and businesses of Kian Shen Corporation (the "Company"). All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forward
Slide 3: Agenda
Agenda Agenda Items Time Presenters Welcome Remarks 5 min. Tseng, General Manager 2024 Q3 Financial Highlights 10 min. Chang, Assistant Vice President Future Prospects 10 min. Tseng, General Manager Tseng, General Manager Q&A 15 min. / Chang, Assistant Vice President 3
Slide 4: Company Profile and Overview of the Joint Venture in China
Company Profile and Overview of the Joint Venture in China 4
Slide 5: Company Profile - Kian Shen Co.
Company Profile - Kian Shen Co. 1. Est. Date: October 1955 Listing Date: May 1999 2. Capital: NT$ 734 million 3. Land: 62,800 M2 Building: 30,113 M2 4. Main Products: Frame (37%), RR Body (36%), Suspension/Stamping parts (24%) 5. Main Customers:Kuozui Motors (51%) , China Motors (35%), RAC Electric
Slide 6: Investment Structure
Investment Structure 3.7% Fuzhou Fushiang Asteer Japan China Motor Co.,Ltd 43.9% 35% 61.3% Wuu Shiang Motors Industrial Guangzhou Co., Ltd. (Taiwan) Kuozui Kian NTN-Yulon 12% 32.9% Kian Shen Motors Shen Drivetrain Co.,Ltd 40% NTN (China) 60% Investment 100% Inv. Corporation Xiangyang The general Hon
Slide 7: Joint Venture in China
Joint Venture in China Xiangyang NTN-Yulon Drivetrain Co., Ltd China Xiangyang Fuzhou Fushiang Motor Co., Ltd Fuzhou Xiamen Guangzhou Guangzhou NTN-Yulon Drivetrain Co., Ltd Xiamen King-Long Kian-Shen Frame Co., Ltd 7
Slide 8: Fuzhou Fushiang Co.
福州福享 Fuzhou Fushiang Co. 1. Est. Date : December 1995 2. Capital : US$ 17.78 million 3. Ownership : Kian Shen (35%), Wuu Shiang Taiwan (61.3%), Structure Asteer Japan (3.7%) 4. Main Products : Body Panel Parts, Chassis Parts…etc. 5. Main Customers : CATL(70%) , Nissan Zhengzhou(3%) , Fujian Benz (3%
Slide 9: Guangzhou NTN-Yulon Co.
NTN-YULON Guangzhou NTN-Yulon Co. 1. Est. Date : September 2002 2. Capital : US$ 12.5 million 3. Ownership : Kian Shen (40%), NTN Japan (48%), Structure NTN (China) Investment (12%) 4. Main Products : Constant Velocity Joints (CVJ) 5. Main Customers : Nissan (China) (20%) , NTN Manufacturing De Mexi
Slide 10: Xiangyang NTN-Yulon Co.
NTN-YULON Xiangyang NTN-Yulon Co. 1. Est. Date : January 2014 2. Capital : US$ 34 million 3. Ownership : Kian Shen (40%), NTN (China) Investment Structure (60%) 4. Main Products : Constant Velocity Joints (CVJ) 5. Main Customers : Dong Feng Nissan (26%) ,Dong Feng Honda (21%) , BAIC BJEV(10%) , NTE(
Slide 11: Xiamen King-Long Kian-Shen Co.
KKSP Xiamen King-Long Kian-Shen Co. 1. Est. Date : March 2006 2. Capital : RMB$ 96 million 3. Ownership : Kian Shen(50%), Xiamen King Long Motor Structure Group (50%) 4. Main Products : Frame(98%), etc. 5. Main Customers : King Long United Automotive Industry Co., Ltd 6. Capacity : 10,000 unit/year
Slide 12: Operating Performance - Kian Shen Co.
Operating Performance - Kian Shen Co. 12
Slide 13: Sales and Profit Status in the Past Five Years
Sales and Profit Status in the Past Five Years NT$100 million NT$ Sales Operating Income Net Income EPS 18 6 16.0 16 15.0 5.50 5 14 12.8 12 4.41 4 10.5 4.18 10.9 10 3.68 2.73 3 8 6 2 4.0 4 3.2 3.1 2.7 1 2.0 2 0 0 2020 2021 2022 2023 2024/Q1-Q3 13
Slide 14: Consolidated Statement of Comprehensive Income
Consolidated Statement of Comprehensive Income Unit: NT$ thousand Q1-Q3 YOY Full year YOY Accounting Title 2024 2023 (%) 2023 2022 (%) Net Sales 1,088,020 1,239,742 (12) 1,598,496 1,500,265 7 Gross Profit from Operations 122,847 145,312 (15) 180,751 147,501 23 Profit Margin 11.3% 11.7% (0) 11.3% 9.8
Slide 15: Sales by Product
Sales by Product Unit: NT$ thousand Q1-Q3 YOY Full year YOY Products 2024 % 2023 % (%) 2023 % 2022 % (%) Frame 353,170 33 355,545 29 (1) 420,613 26 463,435 31 (9) Electric bus 46,743 4 142,275 12 (67) 153,877 10 78,495 5 96 frame RR Body 396,637 36 444,486 36 (11) 598,437 37 595,505 40 0 Suspension
Slide 16: Income Recognized from Joint Ventures
Income Recognized from Joint Ventures Unit: NT$ thousand Q1-Q3 YOY Full year YOY Joint Ventures 2024 % 2023 % (%) 2023 % 2022 % (%) Fuzhou Fushiang 31,296 18 (11,494) (4) 372 43,160 9 6,435 2 571 Guangzhou 106,393 62 109,093 34 (2) 150,538 33 160,293 58 (6) NTN-Yulon Xiangyang 24,820 15 66,870 21 (6
Slide 17: Quarterly Consolidated Income Statement
Quarterly Consolidated Income Statement Unit: NT$ thousand 2024Q3 2024Q2 2024Q1 2023Q4 2023Q3 Accounting Title Amount % Amount % Amount % Amount % Amount % Net Sales 403,399 100 376,080 100 308,541 100 358,754 100 359,543 100 Gross Profit from Operations 43,012 11 49,254 13 30,581 10 35,439 10 34,45
Slide 18: Quarterly Consolidated Balance Sheet
Quarterly Consolidated Balance Sheet Unit: NT$ thousand 2024/9/30 2024/6/30 2024/3/31 2023/12/31 2023/9/30 Accounting Title Amount % Amount % Amount % Amount % Amount % Current Assets 2,271,559 39 2,452,553 42 2,463,790 42 2,470,696 43 1,933,680 34 Non-Current Assets 3,538,029 61 3,408,762 58 3,346,
Slide 19: Future Prospects
Future Prospects Taiwan Commercial Vehicles Market Outlook Operation Prospect for Kian Shen China Joint Ventures 19
Slide 20: Kian Shen Corporation
7B Le KIAN SHEN CORPORATION XY 20