Lu Hai Holding Corp. · TWSE:2115
Lu Hai — Q3 2022 Earnings Presentation
22 slides from Lu Hai's earnings presentation, Nov 28, 2022
Slide 1: Lu Hai Holding Corp. Business Review
六暉控股股份有限公司 LU HAI HOLDING CORP. 六暉-KY(2115) Business Review
Slide 2: Safe Harbor Notice
Safe Harbor Notice This presentation and discussion contain certain forward-looking statements with respect to the result of operation, financial condition and current expectation. The forward-looking statement are subject to know and unknown uncertainties and risks that could cause actual results t
Slide 3: Company Profile
Company Profile Foundation：2009.10.19 Chairman, Simon Hsu Stock Listing：2013.12.25 General Manager, Fanny Hsu Capital Number of employees NTD 994.03 million 1,271人 (As of Oct. 2022) Production Valves, about 80 % Production Capacity Accessories and others, 69 million pcs / Month about 20% 2
Slide 4: Global Locations
Global Locations Taiwan Head office-TAIWAN BRANCH Changhwa Tienchung（35 persons） TAIWAN 4,899㎡ China Indonesia XIAMEN XIAHUI LUHAI(KUNSHAN) PT. LUHAI （Valve 700 persons/Copper 19 persons/ （Precision machining （Valve 224 persons） Precision machining 258 persons） 35 persons） PT.LUHAI 57,777㎡ XIAHUI NE
Slide 5: Milestone
Milestone 1980 1983 1990 1997 2000 2002 2009 2011 2012 2013 2018 2021 2023 Six brothers Pass down to the start-up next generation VALVES VALVES TPMS VALVES VALVES TPMS VALVES Precision machining accessories 4
Slide 6: Main Products
Main Products Bicycle Valves Series Motorcycle Valves Series TPMS Valves Series Truck, Bus, Agricultural Passenger Car Valves Series Precision machining accessories & OTR Valves Series 5
Slide 7: Material Trend
Material Trend Copper Aluminum Rubber LME-Copper Spot LME-Aluminum Spot Rubber (SHFE) 6
Slide 8: Niche Business Model and Production Process
Niche Business Model and Production Process Material Threading Multiple Post- Forging Washing cutting rolling processing processing Achieve economies of scale, renowned brand and leader manufacturer in the field. Possess well-appointed production line and Material Rubber Electroplating cutting m
Slide 9: Financial Results
Financial Results NTD thousand 2022 2021 2019 2020 2021 Nine months Nine months YoY(%) ended ended Revenue 2,716,889 2,602,257 3,397,556 2,360,250 2,556,600 -7.68 Gross Profit 615,058 626,635 846,003 514,498 650,819 -20.95 Gross Profit% 22.64 24.08 24.90 21.80 25.46 Operation Expense 302,423 298,600
Slide 10: Financial Results
Financial Results NTD thousand 2022 2021 2019 2020 2021 Nine months Nine months ended ended Cash and cash 1,122,302 789,600 1,066,980 1,189,355 950,255 equivalents Accounts/Note 634,681 797,525 770,180 722,981 792,141 receivables Inventories 615,928 674,065 766,467 603,306 854,925 Property, plant an
Slide 11: Quarterly and Monthly Revenue
Financial Results Revenue 2018 2019 2020 2021 2022 Q1 627,683 673,385 530,954 868,372 794,539 Q2 644,679 662,636 498,191 859,541 795,043 Q3 670,075 698,324 738,282 828,687 770,668 Q4 686,341 682,544 834,830 840,956 Total 2,628,778 2,716,889 2,602,257 3,397,556 2,360,250 900,000 Monthly revenue 800,0
Slide 12: Financial Results: Gross Profit
Financial Results Gross Profit (NTD thousand) Gross Profit (%) 2018 2019 2020 2021 2022 2018 2019 2020 2021 2022 Q1 123,139 144,351 121,143 224,488 179,225 19.62 21.44 22.82 25.85 22.56 Q2 126,966 146,828 103,205 221,163 176,715 19.69 22.16 20.72 25.73 22.23 Q3 147,469 153,571 176,742 205,168 158,55
Slide 13: Operating Profit and Net Income
Financial Results Operating Profit (NTD thousand) Operating Profit (%) 2018 2019 2020 2021 2022 2018 2019 2020 2021 2022 Q1 52,558 75,673 50,695 139,476 88,929 8.37 11.24 9.55 16.06 11.19 Q2 52,135 74,111 28,218 139,617 97,486 8.09 11.18 5.66 16.24 12.26 Q3 70,074 67,784 107,704 110,429 78,214 10.46
Slide 14: Financial Ratios Analysis
Financial Results 2019 2020 2021 2022Q2 2022Q3 Debts ratio 44.52 42.45 42.74 42.67 41.16 Capital structure Long term funds to analysis (%) 243.85 233.46 204.26 186.75 191.06 fixed assets Liquidity Current ratio 203.02 302.24 308.10 247.92 308.99 analysis (%) Quick ratio 153.18 222.52 217.57 173.09 2
Slide 15: Revenue Breakdown by product category
Revenue Breakdown by product category 2020 16.93% 24.17% 2022前三季 9.92% 4.71% 配件及其他 11.58% Accessories and others 17.28% 21.62% 32.69% 腳踏車BC TPMS類 17.29% 2021 5.12% 28.81% 機車、電動摩托車 汽車PC MC、Electric MC 9.88% 16.50% 24.89% 14.38% 卡車及非道路用車 T/B、L/T、AG、Otr 4.45% 10.95% 28.83% 14
Slide 16: YoY Quantities by Products (Nine months ended)
YoY Quantities by Products (Nine months ended) Unit：thousand pcs 機車、電動摩托車 卡車及非道路用車 腳踏車(BC) (MC,E-MC) (T/B,L/T,AG,OTR) 汽車(PC) TPMS -38.66% -15.75% -30.85% -10.23% +19.75% 212,348 23,519 197,055 14,642 29,462 178,898 26,447 120,865 10,125 19,640 2021 2022 2021 2022 2021 2022 2021 2022 2021 2022 前三季 前三
Slide 17: QoQ Quantities by Products
QoQ Quantities by Products Unit：thousand pcs 機車、電動摩托車 卡車及非道路用車 腳踏車(BC) (MC,E-MC) (T/B,L/T,AG,OTR) 汽車(PC) TPMS -23.57% +14.44% -26.41% -10.43% +9.66% 9,877 41,256 62,741 3,912 8,449 31,531 54,824 8,847 7,705 2,879 2022Q2 2022Q3 2022Q2 2022Q3 2022Q2 2022Q3 2022Q2 2022Q3 2022Q2 2022Q3 16
Slide 18: Revenue Breakdown by Area (Nine months ended)
Revenue Breakdown by Area (Nine months ended) 中國China 印尼Indonesia 其他others 2022前三季 44.54% 22.28% 33.18% 2021前三季 44.35% 23.76% 31.89% 44.35% 44.54% 33.18% 31.89% 23.76% 22.28% 2021前三季 2022前三季 2021前三季 2022前三季 中國China 其他others 2021前三季 2022前三季 印尼Indonesia 17
Slide 19: Financial Results: per capita contribution, EBITDA margin
Financial Results per capita contribution Net Value per share(NTD) (NTD thousand) 30.82 224 30.09 207 29.76 162 173 151 27.18 26.73 2018 2019 2020 2021 2022前三季 2018 2019 2020 2021 2022前三季 Nine months ended Nine months ended CapEx vs FCF Margin EBITDA Margin 800,000 10.00% (Exclude relocation profit)
Slide 20: Foreign Exchange Gain/Loss and Currency Rates
Financial Results NTD thousand Foreign 2022 2021 2018 2019 2020 2021 Nine months Nine months Exchange ended ended Gain/(Loss) 4,907 26,263 (5,318) 24,554 (56,677) 16,616 Sales % 0.19 0.97 (0.20) 0.72 (2.40) 0.65 USD/RMB USD/NTD 7.40 33.00 7.20 32.00 7.00 31.00 6.80 30.00 6.60 29.00 6.40 28.00 6.20 6
Slide 21: ESG
ESG Board of Directors Established ESG Committee in 2022, Implement ESG Sustainable Sustainable Development early. Development By ”Honesty. Good faith. Conscientiousness and Committee above all, Customer satisfaction.” Philosophy, the purpose is to pursue sustainable development, Committee interna
Slide 22: Thank You
THANK YOU!! 全球產量第一 台灣氣門嘴領導品牌 We Deliver the Best Quality & High-end Technology from Taiwan. 六暉控股股份有限公司 LU HAI HOLDING CORP. http://www.luhai.com.tw E-mail://spokesman@luhai.com.tw