Compucase Enterprise Co., Ltd. · TWSE:3032
Compucase Enterprise — HEC Group — Q3 2025 Earnings Presentation
31 slides from Compucase Enterprise's earnings presentation, Nov 20, 2025
Slide 1: HEC Group 2025 Earnings Conference
HEC Group 2025 Earnings Conference The leading provider of PC Cases, PSUs and Rackmount Chassis serving customers around the world. 股票代號 3032 2025.11.20
Slide 2: Statement
Statement This presentation material may contain certain forward- looking statements that are based on current expectations and are subject to known and unknown risks and uncertainties that could cause actual results to differ from those expressed. The Company does not assume any responsibility for
Slide 3: Content
Content 公司簡介 Company Introduction 營運概況 Business and Prospect 財務績效 Financial Report 3 HEC GROUP
Slide 4: About HEC Group
About HEC Group 成立時間 1979.2.16 (Established) 實收資本 NTD1,132,856,260 (Capital) 員工人數 10,000（含AIP 7,000人） (Staffs) 總公司 台南市安南區安和路二段54巷225號 (Headquarter) 225 LANE 54 AN HO ROAD SEC.2 TAINAN TAIWAN 工廠據點 台灣、越南、中國、馬來西亞、美國 (Factory location) Taiwan, Vietnam, China, Malaysia and the USA. 主要產品 工業電腦機殼、電腦機殼、PC電源供
Slide 5: Milestone
46年 致力於機電整 合經驗 Milestone 於深圳設立電腦機 深圳設立電源供應 江西成立變壓器專業 東莞設立第二電源供 殼專業製造廠 器專業製造廠 製造廠 應器專業製造廠 通過 ISO-9002 認證 通過 ISO-9001 認證 通過 ISO-14001 認證 Establish second professional PSU manufactory in Dongguan. 公司成立 Establish professional case manufactory in Shenzhen. Establish professional PSU manufactory in Shenzh
Slide 6: Milestone
46年 致力於機電整 合經驗 Milestone 深圳遷廠至東莞東驊 成立安遠偉昌豐 成立MIT機櫃產線， • 通過 ISO/IEC 27001 • 完成收購全球聲學元件大廠- 於江西安遠設立電源供 電子有限公司 大量生產 Amazon 資訊安全管理系統 AIP 珀韻 應器組裝廠-偉嘉電子 Establish WCF in 機櫃 國際驗證 • 越南設立100%子公司，佈局 Jiangxi. • 出版 ESG 報告書 工具機電源供應器產能 Moving the plant from Shenzhen Establish MIT production to Dongguan line for Am
Slide 7: 偉訓集團 HEC GROUP
偉訓集團 HEC GROUP 伺服器機 電競電源 電競機殼 電競品牌 殼、資料 供應器 Gaming COUGAR 庫機櫃 Gaming Chassis Gaming Server PSU Chassis 偉訓科技 Compucase 雲端儲存 伺服器機 網路交換 POS機 器設備 殼 器 POS Device Storage Server Switch Chassis 富驊企業 LFE 音圈 音膜 組合件 音規/磁 Voice Coils Tweeter Custom 規 Domes Assembly Jigs & Gauges 珀韻 Poyun 7 HEC GROUP
Slide 8: Business & Prospect
營運概況 Business & Prospect P.8
Slide 9: AI / Server Chassis Product Strategy
AI / Server Chassis Product Strategy AI System Cooling Cabinet ◼ The AI system cooling cabinet integrates the manifold, busbar, CDU, and other key components. Orders continue to grow steadily. ◼ It has passed testing by a major U.S. cloud provider and will support data centers in Asia and North Amer
Slide 10: Gaming Cases Product Strategy
Gaming Cases Product Strategy 開發主流公殼，發展多元客戶群 Innovative Patented Case Designs Driving Customer Growth We continue to strengthen our R&D capabilities with a focus on innovative PC case designs and patented technologies. Through differentiated features and standout design elements, we help our clients
Slide 11: PSU Product Strategy
PSU Product Strategy Powering the Next Wave: Ready for NVIDIA RTX 60 Series Next-gen GPUs keep pushing power demand higher. Market info shows the RTX 6090 may reach ~800W, roughly 30% more than the 5090. To support this jump, PSU requirements will move toward 1200W and above. We’ve completed full hi
Slide 12: PSU Product Strategy
PSU Product Strategy Deploying Intel 12V-Only Power Supplies In response to customer demand, we are developing Intel’s 3rd generation 12V-only PSUs. 12 HEC GROUP
Slide 13: Global Expansion of the COUGAR Gaming Brand
Global Expansion of the COUGAR Gaming Brand ◼ COUGAR continues steady growth with 74 global distributors covering 58 countries. ◼ Business expansion is strong, deepening partnerships with SI system integrators in North America, Europe, and Latin America, while accelerating presence in emerging high-
Slide 14: Product Strategy of the COUGAR Gaming Brand
Product Strategy of the COUGAR Gaming Brand Provide a complete range of products, from PC hardware and peripherals to creator-focused items, all aimed at directly reaching the end-user market. Three Key Product Development Focuses: Meeting the Latest Gaming and AI Innovation, Differentiation, and Ex
Slide 15: Acoustic Component Business Expansion
Acoustic Component Business Expansion Background and Strategic Significance ◼ In July, HEC completed the acquisition of AIP and its About Poyun wholly-owned subsidiary Poyun, with a total transaction value of USD 150 million, gaining 100% operational control • Founded in 1979, Poyun is the and offic
Slide 16: Poyun - The World's Largest Voice Coil Manufacturer
Acoustic Component Business Expansion Poyun - The World’s Largest Voice Coil Manufacturer 13 7000 Locations all over the world employees 全球據點分布 員工 1st The world biggest voice 40+ 790M coil manufacturer 全球最大音圈生產商 More than 40years of experience pcs Voice Coil annual output 40多年產業經驗 音圈年產量 Top 3 50+ To
Slide 17: Poyun Global Presence
Poyun Global Presence 東莞 安徽 二/三/四廠 安徽 DONGGUAN FACTORY Anhui 2nd, 3rd, and 4th ANHUI FACTORY Factory 越南 (Ⅰ) VIETNAM FACTORY (Ⅰ) 上海 SHANGHAI FACTORY 越南 ( Ⅱ ) VIETNAM FACTORY 廣西 (Ⅱ) GUANGXI FACTORY Kochi FACTORY U-SONICS 馬來西亞 U-SONICS FACTORY 越南 ( Ⅲ ) VIETNAM FACTORY 珀韻 美國廠 (Ⅲ) POYUN US FACTORY 17 HEC
Slide 18: Key Products
Acoustic Component Business Expansion Key Products Others Gauge 1% 1% 其他 音磁規 13% 85% Voice coil 音圈 Diaphragm 音膜 18 HEC GROUP
Slide 19: Key Clients and Industries
Acoustic Component Business Expansion Key Clients and Industries Others 其他 1% Pro-audio PA 專業音響 6% 21% OEM/Consumer 客製 Automotive 72% Speakers 車用音響 19 HEC GROUP
Slide 20: Key Clients and Products
Acoustic Component Business Expansion Key Clients and Products Smart Speaker Car Audio Soundbar Yacht Audio 智慧音響 車用音響 聲霸 遊艇音響 Smart VR Computer Audio Aviation Audio UAV Audio VR裝置 電腦音響 航空用音響 無人機設備 20 HEC GROUP
Slide 21: Quality Certification
Acoustic Component Business Expansion ISO 9001: 2015 ISO 14001:2015 IATF 16949 Quality ceritification 珀韻品質認證 21 HEC GROUP
Slide 22: Poyun Technology & R&D
Acoustic Component Business Expansion Poyun Technology & R&D 1 Automation 自動化 2 Design Verification 設計驗證 3 Industrialization 產業化 4 New material development 新材料開發 5 VC DFAM 面向製造設計 22 HEC GROUP
Slide 23: Acoustic Component Market Size & Trends
Acoustic Component Market Size & Trends Consumer Audio Market New Energy / EV Market Global audio market size in 2024: USD 46.7B, projected In-vehicle speaker demand is rapidly growing: average CAGR 5.7% to reach USD 61.8B by 2029 (Statista) number of speakers per vehicle rises 6.3 → 9.4 (2022– 2026
Slide 24: Acoustic Component Business Outlook
Acoustic Component Business Outlook The acquisition carries long-term strategic value. Poyun, with its industry leadership and experienced team, will maintain its management structure under HEC Group to ensure stable operations and smooth integration. Key focus: ◼ Expand Products: Develop new acoust
Slide 25: Financial Report
財務績效 Financial Report P.25
Slide 26: 2025 Q1~Q3 Financial Summary
2025 Q1~Q3 Financial Summary Revenue Q1-Q3: NT$8.13B, YoY +49.4% Gross Q1-Q3: NT$1.84B, YoY +54.5% profit Gross Q1-Q3: 22.6%, YoY +3.4% margin Net Income (attributable to Q1-Q3: NT$-244M, YoY -155% parent) 26 HEC GROUP
Slide 27: Revenue & Profitability
Revenue & Profitability Revenue (NT$M) EPS (NT$) 10,000 6 9,233 9,000 5.41 5 8,293 8,135 7,690 4.61 8,131 8,000 7,161 7,433 4.21 7,402 4 3.7 7,000 3.28 6,375 3 6,000 2.5 2.63 2.15 2 5,000 1 4,000 0 3,000 2,000 -1 1,000 -2.17-2 0 -3 2017 2018 2019 2020 2021 2022 2023 2024 2025 Q1~Q3 27 HEC GROUP
Slide 28: Gross Profit & CNIS
Gross Profit & CNIS *CNIS /*CNPS (NT$M) Gross Profit & Gross Margin (NT$M) CNIS CNPS Gross Profit Gross Margin 1,000 9.0% 3,000 25.0% 23.0% 22.6% 7.5% 21.4% 21.9% 7.0% 800 7.0% 2,500 5.8% 19.0% 20.0% 606 600 518 5.0% 2,000 1,873 1,840 3.6% 15.0% 1,579 1,621 400 369 3.0% 297 1,500 1,364 10.0% 200 1.0
Slide 29: Income Statement
Income Statement (NT$K) 2024 Q1~Q3 2025 Q1~Q3 YoY% 營業收入 Net Revenue 5,441,935 8,130,612 49.41% 營業成本 COGS 4,251,386 6,290,872 47.97% 營業毛利 Gross Profit 1,190,549 1,839,740 54.53% 營業淨利 Operating Profit 430,727 841,841 95.45% 稅後淨利 Net Income after tax 531,464 -324,455 -161.05% 母公司業主稅後淨利 Attributable to
Slide 30: Dividend Policy
Dividend Policy 年度 每股盈餘 (NT$) 現金股利 (NT$) 股利發放率 Year EPS Cash Div. Div. Payout Ratio 2024 4.61 2.73 59% 2023 5.41 3.5 65% 2022 3.28 2 61% 2021 2.63 2 76% 2020 4.21 3.1 74% 30 HEC GROUP
Slide 31: Q&A
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