TSEC Corporation · TWSE:6443
TSEC — Investor Conference 2020
16 slides from TSEC's conference presentation, Dec 18, 2020
Slide 1: TSEC Corporation Investor Conference
TSEC Corporation Stock Code: 6443 Investor Conference 1 2020.12.18
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: Agenda
Agenda A、Global Overview on PV Market B、Taiwan Market Analysis C、TSEC Company Overview and Strategy
Slide 4: Global PV Market Review
Global PV Market Review Source: Pvinfolink、TSEC Marketing Dept. 1
Slide 5: PV Power vs Global Electricity Needs
PV Power vs Global Electricity Needs Source: Pvinfolink、TSEC Marketing Dept. 2
Slide 6: Global Installation Forecast
Global Installation Forecast Blue: Year of 2020 RED: Year of 2021 GW Source: Pvinfolink https://www.pv-magazine.com/2020/11/10/world-could-add-more-than-900-gw-of-solar-by-2025-if-politicians-grasp-the-nettle-iea/ https://pv-magazine-usa.com/2020/04/30/the-world-added-115-terawatts-of-solar-power-in
Slide 7: Taiwan Market Outlook
Taiwan Market Outlook The Government expects to complete 20GW by year 2025 including 14GW in Ground Units and 6GW on the Rooftops. According to Bureau of Energy, cumulative rooftop PV capacity in the country stood at 3.88 GW. • Industrial 1.36GW • Agricultural 1.18GW • Public 0.7GW • Others 0.64GW T
Slide 8: 20GW needs only 20,000 h.a.
20GW needs only 20,000 h.a. Sources: Morris JFWONG and Agriculture and Food Agency, Council of Agriculture The Fallow Land is more than 220,000 hectares in Taiwan. Taiwan has lots of land but the regulations seem unfriendly. 5
Slide 9: PV Manufacturing Sectors Stabilizing
PV Manufacturing Sectors Stabilizing Source: TSEC Marketing Dept 6
Slide 10: 2020 Taiwan Module Makers Ranking
2020 Taiwan Module Makers Ranking Ranking Company Capacity in Taiwan (MW) 1 TSEC 1000 2 A 400 3 B 300 4 C 200 5 D 200 6 E 200 8 F 120 9 G 100 TOTAL 2,520 So far, there is around 2.6GW big projects in Taiwan. Most of the sizable project are more than 60MW. Therefore, only module makers with large
Slide 11: Global wafer/cell implementation schedule
Global wafer/cell implementation schedule 2019~2021 : M2 / 156.75mm and G1 / 158.75mm (Present Mainstream) 2021~2023 : M6 / 166mm (Smaller CAPEX in production upgrades) 2022~ : M10 / 182 mm and M12 / 210mm (Heavy CAPEX in brand new production line) 8
Slide 12: Company Overview
Company Overview 3rd Quarter The Board approved the order of new cell and module production for M6, M10 and M12. Net profit of NT$130million in this quarter。 4th Quarter Implementing LINE3 module capacity 350~400MW/yr Orders been placed for new cell production line with capacity 350MW/yr C
Slide 13: HsinChiu & PingTung Factories Production Implementing Progress
HsinChiu & PingTung Factories Production Implementing Progress 10
Slide 14: Income Statement
Income Statement Income statement Q1~Q3,2020 In Thousands of New Taiwan Dollars Q1 Q2 Q3 Q1-Q3 OPERATING REVENUE 1,004,537 100% 1,224,678 100% 1,350,389 100% 3,579,604 100% OPERATING COSTS 997,032 99% 1,085,142 89% 1,129,271 84% 3,211,445 90% GROSS PROFIT 7,505 1% 139,536 11% 221,118 16% 368,159 10%
Slide 15: 2021 Market Strategies
2021 Market Strategies Implementing M6 product and differentiating from other Taiwan makers. Product differentiation is the key for profit making. We aim to introduce 355~365w solar panels to Taiwan market in 2021Q2. Upgrading product quality & efficiency and improving bargaining power with supp
Slide 16: TSEC
TSEC