TSEC Corporation · TWSE:6443
TSEC — Investor Conference 2021
29 slides from TSEC's conference presentation, Dec 14, 2021
Slide 1: TSEC Corporation Investor Conference
TSEC Corporation (6443) Investor Conference 2021/12/14 1
Slide 2: Safe Harbor Notice
Safe Harbor Notice All of the predictive and financial information mentioned in the present briefing as promulgated simultaneously is based on the information and data obtained by the Company from internal and external sources. The actual operating and financial result and condition might be differe
Slide 3: Topics
Topics 1. Company Introduction 2. PV Market Overview 3. Financials 4. Corporate Strategies 3
Slide 4: 1. Company Introduction
TSEC ion Company Introduct 1.
Slide 5: Company Profile
Company Profile Module Plant Established Jun 24th, 2010 Module Plant Company Name TSEC Corporation Logo TSEC Taiwan Solar Energy Corporation NTD 4,716million Cell Plant 新竹湖口工廠 Paid-in-Capital (After completion of private placement on Dec.2,2021) Plant Locations HsinChiu (Cells) / PingTung (Moduiles)
Slide 6: TSEC Business across PV sectors
TSEC Business across PV sectors Over a decade of experiences, TSEC has become an expert of manufacturer and developer in PV industry. 6
Slide 7: HsinChiu Solar Cell Plant: The Largest Capacity in Taiwan
HsinChiu Solar Cell Plant The Largest Capacity in Taiwan 7
Slide 8: PingTung Solar Module Plant: The Largest Capacity in Taiwan
PingTung Solar Module Plant The Largest Capacity in Taiwan 8
Slide 9: TSEC's Numerous Awards
TSEC’s Numerous Awards 2014-2020 Awards from Energy of Bureau 2017 National Innovation Awards Deloitte Top 500 awards in Asia-Pacific The first VPC Certificate from Bureau of Standards 9
Slide 10: Annual Production Capacity
Annual Production Capacity Unit 2020 2021 2022 2023 Solar Cells Max. Capacity MW 610 1010 1410 1410 Solar Modules Max. Capacity MW 600 1050 1,500 1,500 10
Slide 11: 2. PV Market Overview
TSEC 2. PV Market Overview "ae HESS 8
Slide 12: Global Installation
Global Installation Unit: 1 Giga Watts 180 174 80% 160 155 70% 140 56% 60% 127 120 115 50% 103 102 100 40% 78 31% 80 26% 24% 30% 22% 60 50 20% 40 11% 12% 37 40 7% 30 10% 12% 10% 20 -2% 1% 0% 0 -10% 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Data Source: TSEC Marketing、PVInfolink 12
Slide 13: PV Installation and Estimation
PV Installation and Estimation 40% 2021 Installation Forecast 155GW 35% 2022 Installation Forecast 174GW 30% 25% 20% 15% 10% 5% 0% China Europe USA India Mid Japan Africa Taiwan Others East 2021 2022 13
Slide 14: PV Electricity Generation %
PV Electricity Generation % 14
Slide 15: Taiwan PV Market
Taiwan PV Market 1. The Executive Yuan approved the "Green Energy Industry Launching Plan" in 2003 to focus on the promotion of solar photovoltaic energy in Taiwan. 2. The Ministry of Economic Affairs announced the start of Energy Transition and Reform in May 2016. It set a target of 20GW for PV ins
Slide 16: Taiwan PV Installations & Forecasts
Taiwan PV Installations & Forecasts Taiwan Annual PV Installation 1800 1668 1600 1411 1400 1297 1200 970 1000 800 600 523 361 400 226 248 179 200 95 101 25 0 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Oct-21 2020 reached record high of 1,668MW, total accumulation 5.8GW nationwide. 20
Slide 17: Taiwan PV Installations & Forecasts
Taiwan PV Installations & Forecasts 2021 Monthly Installation (MW) 450 400 386 350 300 250 200 150 141 140 125 113 112 96 98 100 46 40 50 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct 17
Slide 18: Scale-Size PV Projects in Next 2 years
Scale-Size PV Projects in Next 2 years Volume 2022 2023 Project Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Q1 Q2 Q3 Q4 (MW) TOTAL TOTAL 20 20 20 60 45 45 45 45 180 A 356 30 30 30 26 116 0 15 15 15 15 15 75 50 15 65 B 140 0 0 5 5 5 5 5 5 30 0 C 69 10 10 10 3 3 3 39 0 0 0 D 114 18 20 20 20 15 13
Slide 19: The Rise of Larger Wafers (M10/G12)
The Rise of Larger Wafers (M10/G12) Starting year 2019, PV wafer manufacturers have introduced larger wafer sizes, which methodology and thinking are similar to Semi-Conductor starting from 6~8” to 12”. The old version of wafer G1 will be obsoleted by the year end of 2022 and M10/G12(10~12”) wil
Slide 20: PV Cell Sizes Comparison
PV Cell Sizes Comparison vs. G1 (2018) M10 (2022) Watts / cell: 5.6W 7.5W Efficiency : 22.45% 22.8% 20
Slide 21: Taiwan PV Cell Manufacturers Comparison Table
Taiwan PV Cell Manufacturers Comparison Table Brand New Line Total Cell Upgrades Company Ranking M6~G12 Capacity (G1) (M6) Competible MW TSEC 1 600 400 1,000 B 2 600 600 C 2 540 60 600 D 3 150 300 450 E 4 300 300 F 5 75 75 150 G 6 20 80 100 TOTAL 2,285 515 400 3,200 21
Slide 22: Taiwan Panel Manufacturers Comparison Table
Taiwan Panel Manufacturers Comparison Table Brand New Total Ranki Cell Upgrades Line Company Capacity ng (G1) (M6) M6~G12 Competible MW TSEC 1 600 400 1,000 B 2 450 300 750 C 3 200 100 300 D 4 150 100 250 E 4 175 75 250 F 5 25 75 100 G 5 25 75 100 TOTAL 1,625 425 700 2,750 22
Slide 23: Solar panels designed for Taiwan's harsh environment
Taiwan is an island surrounding by seas. The country location is right at the earthquake and typhoon zone in Pacific Area. To cope with this harsh environment, TSEC Corp. has developed different solar panels for customer selections of which are special designed to sustain in high salt-mist environme
Slide 24: 4. Financials
4. Financials 24
Slide 25: Remark: The net loss was mainly due to pandemic crisis of Covid-19.
Remark: The net loss was mainly due to pandemic crisis of Covid-19. 1
Slide 26: 4. Corporate Strategies
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Slide 27: Corporate Strategies in Yr 2022
Corporate Strategies in Yr 2022 The company has always adhered to the four main principles : ``lower cost‘’, ``higher quality’’, ``differentiation’’ and ``rapid response to market changes’’ as its business strategies: Production Strategy a) TSEC is currently the only domestic supplier of large-size
Slide 28: Foundation Deepening Strategy
Foundation Deepening Strategy Gradually invest in the downstream PV projects to create a stable and profitable foundation for the company. Financial Planning Strategy a) Upgrading the corporate credit rating b) Cut costs and interest rates Implement corporate governance and actively pursue the chall
Slide 29: TSEC Corporation
TSEC Corporation Taiwan Solar Energy 29