Investment Relationship Roadshow Auto Market trend & Performance update 2018 Rev1.0 Aug.2018 Prepared by Auto SBU Presented by Stanley Lin, AVP
Investment Relationship Roadshow Auto Market trend & Performance update
2018 Rev1.0 Aug.2018 Prepared by Auto SBU Presented by Stanley Lin, AVP
Company Key Information Update
2018 Rev1.0 Aug.2018 Prepared by Auto SBU Presented by Stanley Lin, AVP
TSC FY18 REVISED REVENUE FORECAST
REVENUE GROWTH-TSC GROUP
REVENUE BREAKDOWN BY REGIONS TSC AUTOMOTIVE BUSINESS TREND
83.6 109 122 41%
150
162 166
174 59%
195
0
50
100
150
200
250
300
350
400
2015 2016 2017 2018
TSC Auto ID TSC
UNIT: MILLION US$
APPLICATIONS, SPLIT & REFERENCE CUSTOMERS
AUTOMOTIVE
(Behr-)Hella
Sumitomo
Kostal
Continental
Visteon
Delphi
Lear
Valeo
Bosch
INDUSTRIAL
Siemens
Bosch
Danfoss
Grundfos
GE
Rockwell
Schneider
SBD
LIGHTING
BAG
Helvar
Osram
Panasonic Lighting
Philips Lighting
Sharp Lighting
Tridonic
Universal Lighting
Vossloh-Schwabe
PWR & CON.
Bosch Siemens
Braun
Delta Electronics
Dyson
Flex Power
LG
Samsung
Sony
Whirlpool
PWR 33%
Auto. 20%
Lighting 16%
IND. 12%
CON. 10%
Others 9%
FY 17 REVENUE $USD 174M
PWR 33%
Auto. 25%
IND. 13%
Lighting 13%
CON. 9%
Others 5%
FY18(E) REVENUE $USD 195M
TSC PRODUCTS OVERVIEW
PRODUCT FAMILY ACTIVE PNS AECQ PNS AECQ/ACTIVE PNS
TVS 2145 2145 100%
Power Zener 339 339 100%
Schottky 975 656 67%
Bridge 418 220 53%
Standard 252 177 70%
ESD capability rectifier 4 4 100%
FRD 158 99 63%
HER 286 237 83%
Superfast 353 307 87%
Ultrafast 90 84 93%
TOTAL 5020 4268 85%
FOOTPRINT OF MANUFACTURING SITES
TIANJIN, CHINA / FRONTEND (3“/4“ WAFER) LI-JE, TW / FRONTEND (4” WAFER; 6” IS ON THE WAY)
Technology : GPP, Photoglass, SIPOS passivation Technology : GPP, Photoglass, SIPOS/Si3N4 passivation, Planar (Under development, Q1E/FY19)
Capacity : 150,000pcs wafers/month (Q3-FY18) Capacity : 80,000pcs wafers/month (Q3-FY18)
Yangxin, China / Backend (Assembly) I-lan, Taiwan / Backend (Assembly)
SMD/Bridge/Power Pack/Axial SMD/Power Pack/ PDFN (MOSFET)
Capacity : • SMD : 350,000,000 pcs /month • Bridge : 80,000,000 pcs /month • Axial : 240,000,000 pcs /month • Power Pack : 20,000,000 pcs / month
Capacity : • SMD : 20,000,000 pcs /month • Power Pack : 5,000,000 pcs / month
Infotainment
Safety system
Body control
Chassis system
Engine Transmission
GLOBAL TOP 100 AUTOMOTIVE TIER 1 PROGRAM
Navigation
Audio
Air Bag
TPMS
ADAS
Lighting
Air-CON
ABS
IVI Transmission
Window lift Body control
Mirror
Chassis control
EPAS
OBD
AEC
Fuel Injection
Ignition
ECU
Air supply
UPDATE OF KEY COMPETITORS
VISHAY ONSEMI INFENION TSC(TAIWAN SEMI)
Business Performance
• $2,323M w/ GrM 24.4% • Diodes $554M (24%)
• $3,907M w/ GrM 33.2% • Closed FSC acq $2,532M
• $9.5B w/ GrM 42.8%
• $174M w/ GrM 30% • Closed ON TVS acq $7M
Key Segment • ECU
• ECU
• ECU • EV Charging & OBC
• ECU • EV Charging & OBC
By Regions
By Segment
Key Auto. Cust.
OEM Bosch, Conti, ZF, Delphi, Hella, Denso, Harman
Bosch, Conti, Delphi, Hella, Huawei, Magna, Panasonic
Bosch, Conti, TESLA, Delphi, Autoliv, ZF, Denso, SWS
Conti, SWS, Hella, Kostal, UAES, Delphi, Visteon
EMS Flextronics, Jabil, Sanmina, Celestica
Benchmark, Flextronics, Jabil and Sanmina
Flextronics, Jabil, Sanmina, Celestica and Sanmina
Flextronics, Jabil, Sanmina, Celestica
ASIA 42%
EUR 35%
USA 23%
Others 37%
IND. 36%
AUTO. 27%
Auto + IND 63%
$2,594M
ASIA 72%
EUR 16%
USA 12%
Others 45%
AUTO. 30% IND.
25%
Auto + IND 55%
$5,400M
ASIA 69%
EUR 24%
USA 7%
Others 68%
AUTO. 20%
IND. 12%
Auto + IND 32%
$174M
ASIA 56%
EUR 32%
USA 12%
Others 41%
AUTO. 42%
IND. 17%
Auto + IND 59%
$7,073M
SALES TREND & PROFITABILITY ($MNTD)
Revenue ($MNTD) Gross Profit & Margin ($MNTD)
Operation Profit & Margin ($MNTD) Net Profit & Margin ($MNTD)
7,640 7,745 8,702 8,994
0
2,000
4,000
6,000
8,000
10,000
FY2014 FY2015 FY2016 FY2017
2,453 2,679
3,157 3,310
32% 35%
36% 37%
20%
25%
30%
35%
40%
45%
50%
0
1,000
2,000
3,000
4,000
FY2014 FY2015 FY2016 FY2017
1,304 1,449 1,506
1,618
17% 19% 17% 18%
0%
10%
20%
30%
40%
0
1,000
2,000
FY2014 FY2015 FY2016 FY2017
916 1,131 1,119
1,261
12% 15% 13% 14%
0%
10%
20%
30%
40%
0
1,000
2,000
FY2014 FY2015 FY2016 FY2017
EPS ($NTD) & DIVIDEND PAYOUT
1.61
2.51
3.31 3.34
3.77
1.20
2.00
2.50 2.50
3.00
74.5%
79.7%
75.5% 74.9%
79.6%
71.0%
72.0%
73.0%
74.0%
75.0%
76.0%
77.0%
78.0%
79.0%
80.0%
81.0%
0.0
0.5
1.0
1.5
2.0
2.5
3.0
3.5
4.0
4.5
5.0
FY2013 FY2014 FY2015 FY2016 FY2017
EPS Dividend Dividend Payout Ratio
The RISE of Intelligent & Alternative Energy Vehicle
2018 Rev1.0 Aug.2018 Prepared by Auto SBU Presented by Stanley Lin, AVP
SHIPPMENT TRENDS IN AUTOMOTIVE MARKET
GLOBAL AUTOMOTIVE MAKRET SCALE
GLOBLA AUTOMOTIVE MAJOR MAKERS
75,000
80,000
85,000
90,000
95,000
100,000
105,000
FY1
3
FY1
4
FY1
5
FY1
6
FY1
7
FY1
8(f
) 0
500
1,000
1,500
2,000
2,500
FY1
3
FY1
4
FY1
5
FY1
6
FY1
7
FY1
8(f
)
BEV PHEV
Renault-Nissan-
Mistubishi 10%
BYD 9%
BAIC 9%
Geely 8%
Tesla 8%
BMW 8%
VW 6%
SAIC 5%
GM 5%
Toyota 4%
Others 28%
VW 11%
Toyota 11%
Renault-Nissan
10% Hyundai-
Kia 8%
GM 7%
Ford 6%
Honda 6%
FCA 5%
PSA 4%
Suzuki 3%
Others 29%
WW Car Shipment 96,800K pcs
FY17
WW EV Shipment 1,850K pcs
FY17
China 62%
USA 21% NOR
6%
JPN 6%
GER 5%
WW EV Shipment TOP 5 Regions
FY17
TOP KEY DRIVERS IN ELECTRICAL VEHICLE MARKET
STOP SELLING ANY FUEL CARS
FUNDAMENTAL INFRASTRUCTURE BATTERY TECHNOLOGY
TECHNOLOGY DRIVERS
Diesel Car
Rental Car w/ Diesel Engine
SUV w/Diesel Engine
China Outdoor EV Charging Station Qty
TESLA Shanghai Site Taiwan ARTC Platform Japan 7 alliance EU BMW
EU BenZ
Automotive Business Development
2018 Rev1.0 07.25.2018 Prepared by Auto SBU Presented by Stanley Lin, AVP
2017 TOTAL SEMICONDUCTOR MARKET
DISCRETE SEMICONDUCTOR MARKET BY PRODUCT FAMILY (Discrete $21.5B)
SEMICONDUCTOR MARKET BY FAMILY
DISCRETE SEMICON. MARKET BY FAMILY
PRODUCT CATEGORY 2016 WW 2017 WW GROWTH
Rectifier+Diode (W/o Small Signal Diode) 4,657 5,481 17.7% IGBT 3,421 4,024 17.6% Thyristor 650 706 8.6%
Small Signal 2,494 2,677 7.3% Power MOSFET 6,309 6,691 6.1%
Power Transistor 1,773 1,792 1.1% Other discrete 114 128 12.3%
Unit : M USD
IC 83%
Opto 9%
Discrete 5%
Sensors 3% MOSFET
31%
Rectifier 26%
IGBT 19% Diode
13%
Pwr Transistor
8%
Thyristor 3%
AUTOMOTIVE ELECTRONICS COST STRUCTURE IN A CAR
AVERAGE SEMI COST IN A CAR
AVERAGE COST IN A E-CAR
Power 42%
MCUs 23%
Others 22%
Sensors 13%
Power 76%
Others 16%
MCUs 4%
Sensors 4%
Power 55% Others
27%
MCUs 11%
Sensors 7%
Engine Car ~$USD 320
Hybrid Car ~$USD 690
E-Car ~$USD 700
Battery 48%
Driving System
20%
Body and
Chassie 16%
Ass. 13%
Others 3%
50% from IGBT
600-1200V for Car
Ave. $300 per HEV/PHEV
Ave. $540 per BEV
Ave. $1000 per E-BUS
• EV needs 100~140pcs IGBTs • HST needs 50-80pcs IGBTs per Carriage • Ex. Tesla Model X : 132 IGBTs (Front : 36/Back : 96)
Continuous Innovation in Wafer & Package to Support Automotive Trends
2018 Rev1.0 07.25.2018 Prepared by Auto SBU Presented by Stanley Lin, AVP
CONTINUOUS INNOVATION IN WAFER & PACKAGE
Miniaturization Electrification
Efficiency Transient Capability
CONTINUOUS INNOVATION IN WAFER & PACKAGE
Miniaturization Electrification
Efficiency Transient Capability
PACKAGE TRENDS
SOD-123HE 3.70 x 1.80 x 0.80mm
MicroSMA 2.50 x 1.30 x 0.65mm
• 48% in space
• 80% in height • 100% of the current rating
SMA 4.33x2.56x2.30mm
SOD-123W 3.70 x 1.80 x 0.96mm
• 45% in space
• 50% in height • 60% of the current rating
SOD-123HE 3.70 x 1.80 x 0.80mm
• 45% in space
• 35% in height • 60% of the current rating
SMB 4.33x3.63x2.30mm
ThinSMA 4.25 x 2.60 x 0.95mm
SOD-128 3.80 x 2.50 x 1.00mm
• 69% in space
• 50% in height • 120% of the current rating
SMC 6.55x5.90x2.30mm
ThinSMA 4.25 x 2.60 x 0.95mm
SOD-128 3.80 x 2.50 x 1.00mm
• 29% in space
• 40% in height • 100% of the current rating
TO-277A(SMPC) 6.50 x 4.60 x 1.10mm
• 64% in space
• 40% in height • 100% of the current rating
D-PAK 9.90x 6.57x2.29mm
TO-277A(SMPC) 6.50 x 4.60 x 1.10mm
• 45% in space
• 50% in height • 60% of the current rating
CONTINUOUS INNOVATION IN WAFER & PACKAGE
Miniaturization Electrification
Efficiency Transient Capability
ELECTRIFICATION OF A CAR
Increased Elec. function
ADAS (Vision & Safety)
Replacement of Relays
Electrification of powertrain
CONTINUOUS INNOVATION IN WAFER & PACKAGE
Increased Electrical function
ADAS Replacement
of Relays Electrification of
powertrain
• ECU ++ • ABS, Power steering,
Fuel injection, Automatic transmission
• ECU ++ • Vision & Safety
• Replace conventional electrical or mechanical relays
• Hybrid • 48V • BMS
• STD rectifier up to 1000V • Avalanche ruggedness (BYG, Avalanche Rectifier) • High current density package (SOD-128, SMPC) • ESD protection (ESD rectifier) • Load Dump Protection (Load Dump TVS) • PwrMOS with low RDS(ON) and high ID (*)
• PwrMOS (*) • Space saving • Efficient • Low Noise
• SKY up to 150V Trench SKY (*)
• FRD up to 200V • PwrMOS 40/80/100V
(*)
Remarks : (*) under development
ELECTRIFICATION OF A CAR
Increased Elec. function
ADAS (Vision & Safety)
FY2010 FY2020 FY2030
Level 2 Level 3 Level 4
ACC
LKA LDW
EPS
Radar Lidar
Min ECU+ 2
Hi-res Maps
Hi-res Radar Lidar
GPU
V2X
AISL C&D uC
DSRC
3/4G
Max ECU+ 10
• Adaptive Cruise Control (ACC) • Automatic Emergency Braking (AEB) • Lane Departure Warning (LDW) • Lane Keep Assist (LKA)
AVERAGE ECUs PER CAR
0
20
40
60
80
100
120
140
160
FY2016 FY2017 FY2018 FY2019 FY2020
Small Medium Large Executive Luxury Special
ON/OFF BOARD CHARGING
On Board Charger AC Charging
DC(Fast) Charging
AC
DC
DC
AC Motor HSG ISG
AC Charging • 7.2KW (32A, 1-phase) • 22KW (3-phases) • Charging time, 7.2KW, 3-4hrs
DC Charging • >50KW @ >100A • 80%, 30-60mins
HV BATTERY PACK
Fast Charging Module
PCU
Inverter
Inverter (Motor)
Boost Converter
DC-DC Converter
Inverter (HSG)
CONTINUOUS INNOVATION IN WAFER & PACKAGE
Miniaturization Electrification
Efficiency Transient Capability
ON/Off Board Charging
On Board Charger AC Charging
DC(Fast) Charging
AC
DC
DC
AC Motor
HSG ISG
AC Charging • 7.2KW (32A, 1-phase) • 22KW (3-phases) • Charging time, 7.2KW, 3-4hrs DC Charging • >50KW @ >100A • 80%, 30-60mins
HV Battery Pack
Fast Charging Module
PCU
Inverter
Inverter (Motor)
Boost Converter
DC-DC Converter
Inverter (HSG)
TOPOLOGIES FOR EV OBC (On Board Charger)
AC/DC + PFC (Interleaved PFC) DC-DC (LLC Full Bridge)
Singe phase + Full Bridge LLC
(OBC)
(1) Bridge
• Higher efficiency concern may choose “Bridgeless” topology, but higher cost • Design concern : Lower VF (To reduce conduction loss), 600/1200V • Package concern : Common package is TS6P Bridge rectifier x 1, TO-247 x 2. Later, SMD will be preferred PKG • TSC Solution : TS15P-50P series, and new PLDS3060H-80H (D2PAK-D, under development stage)
(2) TVS • 400W SMA Bi-directional TVS & 600W SMB Bi-directional TVS • TSC Solution : SMAJ & SMBJ series (Package Trend : SMB to SOD-128; SMA to SOD-123W/HE)
(3) PFC MOSFET • Super junction MOS ( Infenion/Toshiba/STM are major suppliers) • 650V/41mohm & 65mohm • TSC Solution : TSM60NB041PW (No AECQ yet)
(4) PFC Diode • Ultrafast, 30A/600-1200V/DO-247, fast trr + Soft recovery (Switch loss & Noise), Lower VF (Conduction loss) • SiC SBD, 10A/650V/TO-220, also Zero switch loss (Cree, Infenion) • TSC Solution : SMAJ & SMBJ series (Package Trend : SMB to SOD-128; SMA to SOD-123W/HE)
(5) LLC MOSFET • Super junction MOS ( Infenion/Toshiba/STM are major suppliers) • 650V/41mohm & 65mohm + Built-in FRD (trr ~ 200ns) • TSC Solution : Under development stage
(6) Output Diode • Ultrafast, 20-30A/600-1200V/DO-247, fast trr + Soft recovery (Switch loss & Noise), Lower VF (Conduction loss) • SMD will be preferred package (Suitable for SMT process) • TSC Solution : UG20J/UG30J (D2PAK-D, under development stage)
(1)
(2) (2)
(2) (2)
(2) (2)
(3) (3)
(4)
(4)
(4)
(5) (5)
(5) (5)
(6) (6)
(6) (6)
CHINA OFF BOARD CHARGING DESIGN SPEC
0
100
200
300
400
500
600
700
800
0 2 4 6 8 10 12 14 16 18 20 22 24 26 28 30
670V
BYD E5
490V
Danza
BYD E6
300V
Kandi K17A
350V
Unstable Area 250V
110V
SiC FOR XEV APPLICATIONS
ROADMAP
300 Amp SiC More Capable than 600 Amp Si IGBTs!
SYSTEM COST REDUCTION OF 20% USING 1200V SiC
• Increased frequency reduces size and weight of magnetics • Lower losses reduce system cooling requirements • Amperage rating for SiC less than half required for Si IGBTs
Data from Cree
0
50
100
150
200
250
300
350
SiC MOSFET 300 Amp,
10 kHz
Si IGBT 600 Amp,
3 kHz
Loss
es (W
atts
)
Diode
Switching
Conduction
CONTINUOUS INNOVATION IN WAFER & PACKAGE
Miniaturization Electrification
Efficiency Transient Capability
PROTECTION SOLUTIONS FOR AUTOMOTIVE
MCU/MPU
CO
MM
CAN
LIN
I/O
Data Port
Lighting Body & Chassis Window fit Electronics
LCD LED
I/O Port
RF
3G Module Wifi Bluetooth GPS Audio
Power V Boost V Buck V Digital
Vbat
TVS Protection ISO7637-2 / ISO16750-2
ESD Protection IEC61000-4-2/ ISO10605
Display
TVS/ESD Protection ISO7637-2 / ISO16750-2/ IEC61000-4-2/ ISO10605
ESD Protection IEC61000-4-2/ ISO10605
ESD Protection
IEC61000-4-2 ISO10605
USB
2.0
H
DM
I SI
M
SD
Dig
i I/O
O
N/O
FF
Key
pad
G
PIO
TVS/ESD Protection ISO7637-2/ ISO16750-2 IEC61000-4-2/ ISO10605
Output Driver
Threats Of Automotive Electronics –ESD(Transient wave)
Vehicle test - Internal points
Vehicle test - external points
Electrostatic Discharge Path - Inside Electrostatic Discharge Path - Outside
THREATS OF AUTO. ELECTRONICS –ESD
ESD Standard
Vehicle test ISO 10605 vs. IEC 61000-4-2
Object Standard Evaluation Cause Automotive Customer
Electronic equipment
IEC 61000-4-2 Malfunction Human body VW(TL82466)
Vehicle Components
ISO 10605 Malfunction
Break Human body
GM(GVM3097), VW(TL82466), Ford(ES-XW7T), Citoren(B21-7110), BMW(GS95002)
Vehicle Components
SAE J1113-13 Malfunction
Break Human body
Standard Module Test Sensitivity Level
Test
ISO 10605
• 150pF/330Ω • 330pF/330Ω • 150pF/2000Ω • 330pF/2000Ω
• 150pF/330Ω • 330pF/330Ω • 150pF/2000Ω • 330pF/2000
IEC 61000-4-2 • 150pF/330Ω • 150pF/330Ω
THREATS OF AUTO. ELECTRONICS : TRANSIENT PULSE
Vehicle test - Electrical disturbance by conduction and coupling ( Standard ISO 7637/ISO 16750)
Pulse Description
1 Connected directly to an inductive load in parallel
2a
Transient interruption of a device connected in parallel, due to hardness inductance
2b Transients from DC motor acting as a generator when ignition is switched off
3a/3b Switching transients due to distributed inductance and capacitance of hardness
4 Voltage dip due to starter-Motor current during cranking (Excluding spikes)
5 Load Dump
Wiper
Airbag
ABS
EEC
Motor
ESP
Alternator
Conventional
Central Load Dump
ISG (BSG/IMG)
SUMMARY
TSC is MOVING forward to AUTOMOTIVE
Penetrating into Automotive since FY2002 85% rectifier products is Automotive grade, TVS (Protection) is 100% Engaged with 1st tier WW Automotive OEM manufacturing companies Complete product portfolio to fulfill Automotive application (ECU,
Powertrain, On/Off board charging, Protection solution) DO-218 Load Dump TVS is a START products to help TSC penetrate into
EU/US/JPN/CN 1st tier automotive ECU makers Technology migration – GPP to Planar
THANK YOU
Taiwan Semiconductor Co., Ltd. Headquarters Address: 11F. No. 25 Sec. 3, Beishin Rd, Shindian District, New Taipei City, Taiwan R.O.C. Telephone: +886-2-8913-1588 E-mail: [email protected] Website: www.taiwansemi.com