Sysgration Ltd. · TPEX:5309

Sysgration — Investor conference 2023-08-23

36 slides from Sysgration's conference presentation, Aug 23, 2023

  1. Slide 1: Sysgration Ltd. Investor Conference

    法人說明會 系統電 Sysgration Ltd. (5309) 2023/8/23 Confidential 1 2023/8/23

  2. Slide 2: Outline

    2023/Q2營運績效 事業成長策略 Outline 美國設廠 提問討論 Confidential 2 2023/8/23

  3. Slide 3: 2023/Q2 Operating Performance

    2023/Q2 營運績效 Confidential 3 2023/8/23

  4. Slide 4: Quarterly Revenue and YoY Ratio

    營業收入 NT$ K YoY% 1,000,000 Quarterly Revenue and YoY Ratio 920,249 140 889,779 886,173 900,000 118.8 834,913 120 800,000 759,414 736,085 100 700,000 678,466 695,273 86.2 590,482 80 600,000 70.5 72.3 490,457 500,000 60 54.8 407,835 41.4 400,000 364,373 37.6 31.1 40 28.9 32.4 284,571 269,912 300,000 25

  5. Slide 5: Quarterly Gross Margin and Ratio

    營業毛利 NT$ K % 250,000 Quarterly Gross Margin and Ratio % Historical 2nd High 30 233,784 25.4 217,416 24.9 24.4 23.4 24.5 202,507 25 22.7 195,562 200,000 21.7 183,492 22.8 169,976 172,698 19.7 18.4 18.8 18.7 20 17.8 17.6 150,000 127,064 15 104,001 100,000 87,484 79,032 80,472 10 52,374 50,821 50,000 5

  6. Slide 6: Quarterly OPEX and Ratio

    營業費用 NT$ K 160,000 Quarterly OPEX and Ratio % 150,357 151,368 40 34.5 139,678 140,000 35.3 35 127,968 120,659 123,366 120,000 30 106,047 98,208 95,191 95,597 94,668 100,000 90,195 25 86,731 22.1 80,949 20.6 80,000 22.2 20 18.4 17.7 16.2 16.3 60,000 14.0 14.0 14.5 15 13.9 15.8 40,000 10 20,000 5 - 0

  7. Slide 7: RD Expense and Ratio

    研發費用 NT$ K RD Expense and Ratio % 250,000 16 14.9 201,626 14 200,000 189,409 12.1 12 155,444 160,627 150,000 10 128,9538.8 111,747 7.7 114,974 8 7.4 7.1 100,000 6 5.9 4 50,000 2 - 0 2017 2018 2019 2020 2021 2022 2023H1 Confidential 7 2023/8/23

  8. Slide 8: EBITDA

    EBITDA NT$ K EBITDA and Ratio Over Revenue % 160,000 30 140,674 140,000 25 120,000 114,572 113,028 106,804 100,210 100,595 20 100,000 15.8 13.7 13.7 13.2 12.8 15 80,000 69,217 11.6 60,894 60,000 10.0 10 7.0 5.4 9.0 40,000 4.0 34,551 31,774 5 1.8 20,000 14,664 7,435 0 0 -6.4 -5.0 -5 (20,000) (13,630)

  9. Slide 9: Quarterly P/L after Tax and Ratio

    稅後淨利 NT$ K % Quarterly P/L after Tax and Ratio 120,000 30 107,470 100,000 25 85,770 73,464 76,486 80,000 71,795 20 63,060 60,000 15 45,106 10.3 12.1 33,845 9.7 40,000 7.8 8.6 8.6 10 6.5 20,000 9,717 6,679 5.0 5 2.0 1.1 0 0 -1.9 (6,793) -3.8 (20,000) (15,430) -5 (40,000) -10 (39,661) (36,431) -13.9 -

  10. Slide 10: Quarterly EPS

    每股盈餘 NT$/Share Quarterly EPS 0.80 0.69 0.60 0.55 0.48 0.45 0.45 0.40 0.36 0.29 0.22 0.20 0.06 0.04 0.00 (0.04) (0.10) (0.20) (0.26) (0.24) (0.40) 2020Q1 2020Q2 2020Q3 2020Q4 2021Q1 2021Q2 2021Q3 2021Q4 2022Q1 2022Q2 2022Q3 2022Q4 2023Q1 2023Q2 Confidential 10 2023/8/23

  11. Slide 11: Shareholders' Equity Attributed to Parent Company

    淨值 NT$ K Shareholders' Equity Attributed to Parent Company 3,000,000 2,596,801 2,496,875 2,500,000 1,942,771 2,000,000 1,536,280 1,500,000 1,404,653 1,298,201 1,206,120 1,135,503 1,095,756 1,086,896 1,048,8661,016,1341,040,4711,066,612 1,000,000 500,000 - 2020Q1 2020Q2 2020Q3 2020Q4 2021Q1 2021Q2 20

  12. Slide 12: AR Collection

    應收帳款 NT$ K AR Collection Days 1,200,000 160 1,066,975 140 1,000,000 920,556 874,740 880,836 899,932 120 110 112 800,000 735,789 100 96 609,609 622,072 88 90 91 87 600,000 80 83 82 82 80 75 72 71 446,292 456,594 60 400,000 336,064 285,538 250,728 258,520 40 200,000 20 - - 2020Q1 2020Q2 2020Q3 2020Q4

  13. Slide 13: Inventory

    庫存周轉 NT$ K Inventory Days 600,000 120 548,488 500,000 475,538 474,265 100 95 455,249 415,835 423,002 400,000 80 352,829 74 338,719 59 65 300,000 60 58 60 60 56 56 211,017 43 44 200,000 40 40 40 158,955 36 142,961 138,682 142,729 108,674 100,000 20 - - 2020Q1 2020Q2 2020Q3 2020Q4 2021Q1 2021Q2 2021Q3

  14. Slide 14: Business Growth Strategy

    事業成長策略 Confidential 14 2023/8/23

  15. Slide 15: Sysgration Overview

    系統電綜觀 1977 550+ 40+ 4 5309 Founded Worldwide Years Locations TW Stock Employees Design & Taiwan - Taipie/NanKang Publicly Trade Manufacturing China - Huizhou/ZhenJiang Capital: NT$1.8B Service Experiences Market Value NT$7B • Sysgration • Rear-Seat • BLE TPMS for OE • BLE TPMS ODM for • RF Dual-Band

  16. Slide 16: Operating Strategy Direction

    營運策略方向 Focus on High Growth Market Emphasize Target Innovation Top-Notch and Quality Customers for Value Differentiation Confidential 16 2023/8/23

  17. Slide 17: Target Markets and Main Products

    經營市場與主要產品 Automotive Solutions Power and Energy Management Rugged Head-Mount Tire Pressure AR Device Li-Ion Battery Pack Wireless Camera Monitoring Systems for Semiconductor Fab Li-Ion Based Around-View System 100+ Energy Storage Systems 40+ Patents Patents Body Control Module Infotainment System EV

  18. Slide 18: Future Growth Drivers: TPMS, ESS, IPC

    未來成長動力 • Semiconductor Fab • Community • Data Center TPMS ESS IPC • OE • Commercial Vehicle • Replacement • Industrial Vehicle • Fleet • Rugged Tablet Confidential 18 2023/8/23

  19. Slide 19: US TPMS Vehicles in Operation

    美洲配載胎壓偵測器乘用車總數 US TPMS Sensor Installation by Vehicle Age 350.0 300.0 Vehicles in Operations (Million) 287 278 268 250.0 258 247 236 224 212 200.0 198 185 168 150.0 100.0 50.0 0.0 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 0-3 Years 4-7 Years 8-11 Years 12+ Years Total Source: Frost & Su

  20. Slide 20: EU + UK TPMS Vehicles in Operation

    歐洲配載胎壓偵測器乘用車總數 EU + UK TPMS Sensor Installation by Vehicle Age 120.0 108 100.0 102 Vehicles in Operations (Million) 96 89 80.0 82 75 68 60.0 63 59 51 40.0 43 20.0 0.0 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 0-3 Years 4-7 Years 8-11 Years 12+ Years Total Source: Frost & Sullivan, 2020

  21. Slide 21: Truck/Fleet TPMS Expansion Opportunity

    卡車/車隊胎壓偵測器擴展商機 ◆ TPMS Become a Compulsory Fitment across Europe: ➢ on M1, M2, M3, N1, N2, N3, O3, and O4 vehicles (trucks, trailers, buses, coaches) ➢ from 2022/7: new type approvals, and ➢ from 2024/7: all new vehicles for registration. Top 10 Most Valuable Tire Bands 1. Michelin France 2. Bridgest

  22. Slide 22: Global Rugged Display Market

    全球強固電腦市場 20 Global Rugged Display Market 18.3 17.0 15.9 16 14.8 13.7 12.8 11.9 (US$ Billion) 12 11.1 10.3 9.6 8 4 0 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 Source: www.precedenceresearch.com Confidential 22 2023/8/23

  23. Slide 23: Industrial PC Expansion Directions

    工業電腦擴展方向 Rugged Vehicle Rugged Tablet Headmount Device Construction CAGR = 11.8% Surveying CAGR = 11.0% Enterprise AR CAGR = 29.5% Remote Assistant Vision Picking AR SOP Agriculture CAGR = 13.6% Diagnostic CAGR = 10.1% Confidential 23 2023/8/23

  24. Slide 24: Rugged AR Device Value Chain Extension

    強固AR設備價值鏈延伸 + Design + Manufacturing Sales/Distribution Service + AI Integration Confidential 24 2023/8/23

  25. Slide 25: Energy Systems Target Market

    電統能源行銷市場 Confidential 25 2023/8/23

  26. Slide 26: US Factory

    美國設廠 Confidential 26 2023/8/23

  27. Slide 27: Global Footprint

    SYSGRATION Global Footprint Headquarter with majority of High Speed SMT Line R&D located in Taipei, Taiwan. Sysgration Sysgration Nankang Sysgration US Multiple production bases Headquarter Factory (NKS) Location: Texas, US including 2 located in China, 1 Location: Neihu, Taipei, Location: Nankang,

  28. Slide 28: Group Quality Certifications

    集團品質認證 Quality Management System Safety Management System ISO 9001 IATF 16949 VDA 6.3 ISO 26262-2 ISO 45001 ISO 26262-7 Hazardous Substance Environmental Standard Development Management System Management System for Electrostatic Discharge RoHS IECQ QC080000 ISO 14001 ANSI ESD S20.20-2021 Confidentia

  29. Slide 29: US Investment Structure

    美國投資架構 Sysgration Ltd. Sysgration International Sysgration USA Inc. Sysgration (Samoa) Ltd. Power Tank Energy Ltd. Incorporation (100%) (100%) (100%) (100%) Sysgration Sysgration (HuiZhou) Sysgration Technology America Ltd. (Samoa) Ltd. Corporation (100%) (100%) (100%) Sysgration (ZhenJiang) Ltd. (1

  30. Slide 30: Dallas Factory Location (I)

    系統電達拉斯廠位置(I) Confidential 30 2023/8/23

  31. Slide 31: Dallas Factory Location (II)

    系統電達拉斯廠位置(II) Confidential 31 2023/8/23

  32. Slide 32: Dallas Factory Exterior

    系統電達拉斯廠房外觀 Confidential 32 2023/8/23

  33. Slide 33: US Factory Build Timeline

    美國建廠時程規劃 PCBA Datacenter BBU TPMS UPS Battery Pack 2023 2024 2025 2026 Facility & Equipment Industrial PC Build-Up Head-Mount AR Confidential 33 2023/8/23

  34. Slide 34: US Factory Target Service Markets

    系統電美國廠目標服務市場 Confidential 34 2023/8/23

  35. Slide 35: Q&A

    提問討論 Confidential 35 2023/8/23

  36. Slide 36: Thank You

    Thank You Confidential 36 2023/8/23

Sysgration — Investor conference 2023-08-23 on 6ix