Win Semiconductors Corp. · TPEX:3105
Win Semiconductors — Investor Presentation (September 2024)
28 slides from Win Semiconductors's investor presentation, September 2024
Slide 1: WIN Semiconductors Company Presentation
WIN Semiconductors Company Presentation Aug. – Sept. 2024 WIN Semiconductors Confidential
Slide 2: Safe Harbor Notice
Safe Harbor Notice This presentation contains 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 materially from those expressed or implied by such statements. Except as
Slide 3: Outline
Outline Market Outlook Financial Review & Guidance Q&A WIN Semiconductors Confidential 3
Slide 4: Market Outlook
MARKET OUTLOOK WIN Semiconductors Confidential 4
Slide 5: Ubiquitous AI Access
The Megatrend Ubiquitous AI Access 3D Holographic Teleoperation Autonomous Vehicle True Smart City Meeting & UI Surgery & Vehicle >10X Devices Connected/area WIN Semiconductors Confidential 5
Slide 6: Rapidly Increased Global Data Traffic
Rapidly Increased Global Data Traffic To increase data transmission capacity: 1. Increase number of devices; and 2. Improve performance of devices (spectrum efficiency) 3000 1 EB=1 billion GB 2500 2443 568 Enterprise & Others 2000 EB / Month 468 Consumer Mobile 1500 1000 507 1407 500 Consumer Fixed
Slide 7: Ultra-High Speed Data Transmission
Ultra-High Speed Data Transmission Driven by massive data generated by vast computing, storage, and sensing devices. Wi-Fi 7 World-Leading SAW & BAW 7th Filters Gen. HBT World Class Reliable InP RF HBT with B5G/6G GaN HEMT Cutoff Freq. technology ≥300GHz World-Leading mmWave pHEMT Satellite comm. In
Slide 8: Wi-Fi 7: Content Increase for GaAs-based PA
Wi-Fi 7: Content Increase for GaAs-based PA • Wi-Fi 7 data rate increased by spectrum, channel bandwidth and modulation. • GaAs provides the best performance for high linearity, high frequency and broadband applications. • External PA demand will grow with Wi-Fi 7. Wi-Fi 6 Wi-Fi 6E Wi-Fi 7 Bands 2.4
Slide 9: PA Content Increase in 5G Smartphones
PA Content Increase in 5G Smartphones • 5G smartphone shipments surpassed 4G in 2023. • Higher PA content in 5G smartphones compared to 4G. Smartphone Market Breakdown by Cellular Standard 20.7% 55.0% 78.8% PA volume in Smartphone 4G 4 ea 5G 6 ea LTE 5G 7 ea (+N77) 8 ea (+N77, N79) 3G 2019 2020 2021
Slide 10: Satellites Enable Seamless Network
Satellites Enable Seamless Network • LEO launch and NTN for direct to cell application deployment. <6GHz pHEMT, GaN, 0.1/0.15/0.25μm HBT, GaN 0.25μm UT Cell phone Gateway PtP pHEMT, 0.15/0.1μm Infrastructure WIN Semiconductors Confidential 10
Slide 11: Smart Sensing
Smart Sensing Driven by innovative applications toward a safer, environmental friendlier, and more immersive experience lifestyle for people. SWIR/NIR Back-emitting VCSEL VCSEL AR / VR / XR with Optics On-VCSEL Optics Technology 3D Sensing For Mobile devices InP-based Photodetectors (APD & PIN) Biom
Slide 12: Will be the Next Big Wave: LiDAR and DMS/OMS
Laser Light Sources for Automotive Use Will be the Next Big Wave: LiDAR and DMS/OMS • Market report estimates a strong CAGR of 62% for automotive LiDAR application. • Hybrid and pure solid-state LiDAR are becoming the mainstream technology. Semiconductor laser as the LiDAR light source will be benef
Slide 13: Mass Data Computation & Storage
Mass Data Computation & Storage Driven by rapidly increased AI servers in data center and new computation technology. 100 Gbps/lane WIN pHEMT VCSEL LD/Modulator Hyper Scale Driver IC Data Center On MMF Optics 800G/400G 6” wafer InP-based InP-based Inter-Chips BH DFB LD High-speed Optical Interconnec
Slide 14: AI Data Center
AI Data Center SS tas $ | a + Data Center Interconnects fr “No a i a 32 SPE es, OT LLL
Slide 15: Strong Demand on Laser and Driver IC From AI Data Centers
Strong Demand on Laser and Driver IC From AI Data Centers • Driven by rapidly increased AI servers demand, the high speed and short range solution from VCSEL keep penetrating into DCI applications. Data Center Interconnect At Next Distance Laser Present Gen Spine 400G 800G Spine - Leaf >2km DFB/EML
Slide 16: A Simplified Optical Transceiver
A Simplified Optical Transceiver Receiver Optical Electrical Signal Signal Detector Rx (PIN or APD) In Trans-Impedence Limiting Amplifier Amplifier (TIA) (LA) Transmitter Optical Laser/Modulator Signal Electrical Driver IC Tx Signal Modulator Laser Diode (EAM or MZM) (VCSEL or EEL) Out
Slide 17: WIN's Strategy
WIN’s Strategy Market-leading Customers #1 III-V Foundry with Broadest Technology Portfolio World-leading & Proven III-V Technologies Serve market-leading customers with our most comprehensive world-leading and proven III-V manufacturing technologies in the fast growing markets along the megatrend.
Slide 18: Financial Review & Guidance
FINANCIAL REVIEW & GUIDANCE WIN Semiconductors Confidential 18
Slide 19: Revenue & Margin Trend
Revenue & Margin Trend 2Q24 revenue was NT$4.96b, up 12% QoQ and up 26% YoY. 2Q24 GM was affected by -3.1 pp due to the decline in the share price of a listed Chinese customer held by our consolidated subsidiary. However, driven by higher utilization and better product mix compared to last quart
Slide 20: Earnings Trend
Earnings Trend In 2Q24, net profit attributable to the parent company was NT$485m, compared to NT$407m in 1Q24. EPS came in at NT$1.14 for 2Q24, compared to NT$0.96 in 1Q24. NT$M Earnings & growth trend NT$ EPS 800 1.50 600 400 1.00 200 0.50 0 -200 0.00 -400 -600 (0.50) -800 1Q23 2Q24 3Q22 4Q22 2Q
Slide 21: Product Mix
Product Mix 2Q23 Others* 18% 2Q24 Cellular 30-35% Others* 12% Wi-Fi 15-20% Wi-Fi Cellular Infra. 25-30% 15-20% 40-45% 1Q24 Others* 15% Wi-Fi Infra. 10-15% Cellular 45-50% 25-30% Infra. * Others: Revenue not attributable to main product segments and additional 20-25% revenue being consolidated in acc
Slide 22: Guidance
Guidance We expect 3Q24 revenue to decline high single digit QoQ. We expect 3Q24 gross margin to be around the level of mid-twenties. WIN Semiconductors Confidential 22
Slide 23: Appendix - Financial Summary
APPENDIX - FINANCIAL SUMMARY WIN Semiconductors Confidential 23
Slide 24: Consolidated Statements of Comprehensive Income – Quarterly
Consolidated Statements of Comprehensive Income – Quarterly 2Q'24 Unit: NTD Million 2Q'23 1Q'24 QoQ YoY (unaudited) Net revenue 3,944 4,442 4,961 +12% +26% Gross profit 791 995 1,352 +36% +71% Gross margin (%) 20.1% 22.4% 27.2% Operating expenses (961) (811) (850) +5% -12% Operating expenses rate (%
Slide 25: Consolidated Statements of Comprehensive Income - YTD
Consolidated Statements of Comprehensive Income - YTD 2024H1 Unit: NTD Million 2023H1 YoY (unaudited) Net revenue 6,803 9,404 +38% Gross profit 1,117 2,346 +110% Gross margin (%) 16.4% 24.9% Operating expenses (1,882) (1,661) -12% Operating expenses rate (%) -28% -18% Operating income (loss) (765) 6
Slide 26: Non-operating Items
Non-operating Items 2Q'24 2024H1 Unit: NTD Million 2Q'23 2023H1 (unaudited) (unaudited) Foreign exchange gains (losses) (650) (12) (656) (33) Gains (losses) on disposals of property, plant and - (0.2) (23) (0.2) equipment Gains on repurchase of bonds payable 540 - 555 - Gains on financial liabilitie
Slide 27: Consolidated Balance Sheets
Consolidated Balance Sheets 2024/6/30 2023/6/30 2024/3/31 (Unit: NTD Million) Major Item (unaudited) $ % $ % $ % Cash and cash equivalents 7,054 11% 5,592 9% 5,296 8% Current financial assets at fair value through profit or loss 103 0.2% 142 0.2% 143 0.2% Notes and accounts receivable, net 971 1% 1,
Slide 28: Q&A
Q&A For more information regarding WIN www.winfoundry.com For all inquiries, suggestions, and comments ir@winfoundry.com WIN Semiconductors Confidential 28
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