( 英文版 ) Ticker: 1455 OCT 23/24, 2014 INNOVATION SPECIAL FUNCTION INTEGRATION ENVIRONMENT

Transcription

1 ( 英文版 ) Ticker: 1455 OCT 23/24, 2014 INNOVATION SPECIAL FUNCTION INTEGRATION ENVIRONMENT

2 Company Profile 1969 Company established & DTY 1 st Plant start up 1992 DTY 2 nd Plant start up 1993 Listed on the Taiwan Stock Exchange 1997 ISO-9001 certified 1998 DTY 3 rd Plant start up 1999 Nylon Spinning 1 st Plant start up 2000 Nylon Polymerization 1 st Plant start up 2004 Innovative R&D center founded Nylon Polymerization 2 nd Plant start up 2006 Compounding plant start up 2007 OHSAS certified 2010 ISO/ TS certified 2011 Nylon Polymerization 3 rd Plant, Nylon Spinning 2 nd Plant acquired 2012 ATY Plant, Nylon Spinning 2 nd Plant start up 2013 Nylon Polymerization 3 rd Plant start up 2014 ISO certified DTY Plant Ⅰ 1969 Production plants Fiber Business Division Spinning Plant Nylon Spinning Plant 2000 DTY Plant DTY Plant Ⅱ 1992 Chemical Materials Division DTY Plant Ⅲ 1998 Nylon Polymerization & EPLA Plant Nylon Polymerization Plant Ⅰ2001 Nylon Polymerization Plant Ⅱ

3 4 Main Products PTA, MEG Fiber Division 3 4 Nylon6 Filament Nylon/Polyester DTY/ATY Chemical Division Vertical Integration 1 2 CPL Nylon6 Chip EPLA Polyester Chip 1 Nylon Chip Polyester POY 3 Nylon Filament 2 EPLA 4 Polyester DTY 4 Nylon DTY 3

4 Taiwan Market Share Fiber Division Chemical Division Capacity (kt/yr) Market Share (%) 22 % 8 % 22 % 11 % Source: Taiwan Man-Made Fiber Industries Association, Taiwan Synthetic Resins Manufacturers Association 4

5 各季損益表 Income Statements 單位 : 新台幣百萬元 Unit: NTD million 會計科目 ITEM Q 1 Q 4 Q 3 Q 2 Q Amount % Amount % Amount % Amount % Amount % 營業收入 Operating Revenue 營業毛利 Gross Profit 營業費用 Operating Expenses (110 ) (2.3) (106 ) (2.3) ( 118) ( 2.3) (106 ) (2.2) ( 103) ( 2.3) 營業淨利 Operating Profit (98) (2.1) 營業外收 ( 支 ) Non-operating Income & Expenses 稅前淨利 Profit Before Income Tax (76) (1.6) 所得稅 ( 費用 ) 利益 Tax (Exp) Gain 1 0 (20) (0.4) (9) (0.2) (11) (0.2) 稅後淨利 Profit after Income Tax (75) (1.6) 每股盈餘 EPS ( NTD ) $ ( 0.12) $ 0.13 $ 0.17 $0.08 $

6 最近年度各項主要財務指標 會計科目 ITEM H 應收款項淨額 Receivables 存貨淨額 Inventory 不動產廠房及設備 Fixed assets 總資產 Total assets 長短期借款 Long short-term loans 股本 Capital 營業收入 Operating revenue 稅後淨利 Profit after Income Tax ( 0.98) 1.33 稅後純益率 Profit margin after tax 0.1% 2.0% ( 0.6%) 0.7% 總資產報酬率 ROA 0.2% 3.1% ( 0.33%) 1.3% 股東權益報酬率 ROE 0.1% 5.0% ( 1.43%) 2.0% 每股盈餘 EPS(NTD) ( 0.17) 0.26 負債佔總資產比 Liabilities ratio 45.2% 45.4% 48.6% 54.3% 流動比率 Current ratio 122.9% 128.4% 151.7% 113.1% 每股淨值 Book value per share(ntd) * 民國 102 年起採用國際會計準則 (IFRS) 之規定編製數表達 * 民國 101 年 12 月 ( 含 ) 以前採用台灣會計準則之規定編製數表達 單位 : 新台幣億元 Unit:NTD 100 million 6

7 Sales Breakdown By Products (H1 2014) Turnover : USD 307,000,000 Fiber Business Division Chemical Materials Division DTY EPLA Domestic 74.6% Export - China 12.6% - Others 12.8% 25.3 % 3.0% Domestic 49.6% Export - China 15.8% - Others 34.6% 18.7% 53.1% Nylon Filament Nylon Chip Domestic 83.2% Export - China 6.2% - Others 10.6% Domestic 27.1% Export - China 58.1% - Others14.8% 7

8 Applications of Nylon Chip Nylon is everywhere PA6 annual capacity of 7 mn tons globally PA66 annual capacity of 2 mn tons globally 2/3 for Textile use ( Apparel, Industrial, Carpets) 1/3 for Engineering Plastics 8

9 Applications of Company s Engineering Plastics Main Applications: Vehicle Accessories Intake manifold, lamp reflector, rear view mirror, doorknob, wheel cover, motorcycle accessories Sports Equipments Roller blade, sled, ski, sports shoes, goggle, remote-control unit of vehicles, fishing appliance Electronic Components Switch, relay, rectifier, terminal block, fuse holder, connector Hand Tools Motor room, gear, handlebar Other Applications OA gear, small home appliance, inner tube shoe of pipe fitting 9

10 Characteristic of Company s Nylon Filament Industrial yarn: with extremely coarse denier Textile yarn: with extremely fine denier, monofilament yarn 10

11 Applications of Company s DTY & ATY Excellent Dryness Yarn Cotton`s Natural Texture High Elastic Yarn Fancy Effect Yarn Slub & Silk- Like Feel Melange Color & See Through Deep Dyed and High Fastness Cationic-Dyeable Yarn Long-Acting Nylon Cooling Yarn Gradient Colors Yarn 11

12 Problems that we are facing and proposed solution. Nylon 6 polymerization over capacity. Commodity type FDY and DTY cut prices to compete. Downstream fabric and garment mills move to overseas to develop new markets. China government curb cash supply and lack buying momentum from China. Increase specialty products proportion. Provide new function yarn ideas to garment and fabric producers. Offer JIT service to brand name buyers. Increase overseas service capability and channel. Reduce reliance on Chinese market and develop overseas market. 12

13 THANKS INNOVATION SPECIAL FUNCTION INTEGRATION ENVIRONMENT