Slide 1: Investor Conference
Investor Conference 26 Sep. FY24
Slide 2: Agenda
Agenda • Welcome C. M. Yang , Vice Chairman • 2024 H1 financial results Justin Ko , CFO • 2024 H1 market review M. F. Feng , General Manager • Future operational challenges and opportunities M. F. Feng , General Manager • Q&A 2
Slide 3: Safe Harbor Notice
Safe Harbor Notice • RECHI’s statements of its current expectations are forward looking statements subject to significant risks and uncertainties and actual results may differ materially from those contained in the forward-looking statements. • Except as required by law, we undertake no obligation t
Slide 4: 2024 H1 financial results
2024 H1 financial results Tl RECHI
Slide 5: 2024H1 Summary of Operational Highlights
2024H1 Summary of Operational Highlights DC inverter European heat pump Sales revenues and Income after tax compressor sales and dryer sales and YoY YoY Growth and YoY Growth YoY Growth Growth Unit: 10,000 sets NT$11.08 billion, NT$613 million, 4.135 million sets, 2.12 million sets, 12,000,000 32.1%
Slide 6: Sales Volume and Financial Report Trend Chart
Sales Volume and Financial Report Trend Chart three margin: % Sales volume: 10,000 sets 18.00% 1200 1114.7 16.00% 15.92% 14.81% 14.91% 1000 908.4 14.00% 12.98% 796.3 12.00% 11.72% 753.9 800 10.00% 銷售量 Sales volume 606.7 600 毛利率% GPM 8.00% 營業利益率% OPM 6.83% 稅後淨利率% NPM 6.00% 5.47% 400 5.58% 5.54% 4.68%
Slide 7: 2024H1 RECHI Sales: Application ratio
2024H1 RECHI Sales : Application ratio Sales volume (%) YOY (%) Window A/C, 2.0% Unitary, 1.5% others, 3.0% 200.0% Portable A/C, 9.8% 166.9% 150.0% Dehumidifier, 100.0% 11.1% 74.0% Split-type A/C, 62.4% 53.7% Heat pump dryer, 50.0% 37.5% 40.2% 19.0% 0.0% Split-type A/C Heat pump Dehumidifier Portabl
Slide 8: 2024H1 RECHI Sales: Geographic ratio (End market)
2024H1 RECHI Sales : Geographic ratio (End market) Sales volume (%) YOY (%) 250.0% 228.5% N Africa/ Middle East / Latin West Asia, 200.0% American, 5% 2% East Asia, 5% 150.0% SE Asia, 9% China, 39% North American, 15% 100.0% 74.2% 50.7% Europe, 26% 50.0% 14.5% 14.3% 14.6% 18.6% 0.0% China Europe Nor
Slide 9: 2024 H1 Income statement
2024 H1 Income statement Unit in Thousand NT$ 2024年H1 % 2023H1 % YOY Growth rate% Sales volume of compressor 11,147,375 7,539,892 3,607,483 47.8 Sales revenues 11,089,864 100.0 8,393,272 100.0 2,696,592 32.1 Cost of goods sold -9,324,399 -84.1 -7,149,851 -85.2 -2,174,548 -30.4 Gross margin 1,765,465
Slide 10: 2024 H1 Balance sheet
2024 H1 Balance sheet Unit in Thousand NT$ 2024H1 % 2023 % YOY % Cash and current financial assets 3,199,375 11.2 3,732,749 15.2 -533,374 -14.3 Accounts receivable, net 10,153,125 35.6 7,867,867 32.0 2,285,258 29.0 Inventories 2,045,350 7.2 1,580,295 6.4 465,055 29.4 Property,plant and equipment,net
Slide 11: 2024 H1 Cash flow statement
2024 H1 Cash flow statement Unit in Thousand NT$ 2024年H1 2023年H1 Cash and Cash Equivalents at Beginning of Period 3,732,749 4,482,658 Net cash provided by operating activities 596,873 -98,670 Cash flow from investment activities -1,136,350 174,997 (Decrease) increase in short-term loans,net 559,965
Slide 12: Carbon Reduction Implementation Results
Carbon Reduction Implementation Results • Based on the results of the external audit of ISO14064 Greenhouse Gas Inventory, the total carbon emissions in 2023 is 69,500 metric tons, a year-on-year decrease of 6.84%. • In the first half of 2024, 11.728 million compressors will be produced. The estimat
Slide 13: 2024 H1 market review
2024 H1 market review a RECHI
Slide 14: Growth Rate of Global RAC Market in the First Half of 2024
Growth Rate of Global RAC Market in the First Half of 2024 According to actual interviews and questionnaire surveys by JARN, the global household air conditioner market grew slightly by 2% YoY in the first half of 2024, mainly due to the steady economic recovery, but also due to factors such as en
Slide 15: Sales Volume of China's Air Conditioner/Compressor Industry in 2024H1
Sales Volume of China’s Air Conditioner/Compressor Industry in 2024H1 Unit: 10,000 sets Air conditioner sales Domestic sales Export sales company 2024 2023 2024 2023 2024 2023 The cumulative sales volume of China's air-conditioning sales YOY sales sales YOY sales sales YOY sales industry reached 1
Slide 16: Sales Trends and Estimates of Rotary Compressors in China
Sales Trends and Estimates of Rotary Compressors in China unit: K / sets 300,000 282,500 20% 262,305 250,000 238,571 233,362 15% 215,181 211,551 12.8% 12.4% 200,000 7.7% 10% 150,000 銷量 5% 157,880 4.4% 同比 100,000 0% 50,000 -1.7% -2.2% 0 -5% 2019 2020 2021 2022 2023 2024(F) 中國迴轉式壓縮機 The global HVAC&
Slide 17: Future Operational Challenges and Opportunities
Future Operational Challenges and Opportunities 17
Slide 18: Challenge Goals in 2024H2
Challenge Goals in 2024H2 unit: sets Sales Volume by Month Chart H1 sales volume 11.14 million sets Challenge H2 to sell 10 million sets 2,500,000 A YoY growth of 47.8% A YoY growth of 25% 2,000,000 1,500,000 2024年 2023年 1,000,000 500,000 18 0 1月 2月 3月 4月 5月 6月 7月 8月 9月 10月 11月 12月 18
Slide 19: Political and Economic Situation
Political and Economic Situation Emerging market economies in Asia remain the main driving force of the global economy, with India and China's overall recovery growth forecasts raised to 5.0% and 7.0% respectively. Emerging markets such as India, Latin America, the Middle East, and Africa are st
Slide 20: RECHI Development Plan
RECHI Development Plan Expansion of China's domestic inverter market China's variable frequency air conditioners account for 80% China's air conditioning compressor industry is expected to have a compound annual growth rate of 5% to 7% New models drive revenue and profit growth Jiujiang fact
Slide 21: Tl RECHI
Tl RECHI