MPI Corporation 6223.TT 櫃買市場業績發表會 6th Apr. 2017 2 Presentation Disclaimer The information herein contains forward-looking statements. We have based these forward-looking statements on our current expectations and projections about future events. Although we believe that these expectations and projections are reasonable, such forward-looking statements are inherently subject to risks, uncertainties and assumptions about us, including, among other things: the intensely competitive Semi-conductor, and LED industries and markets; Cyclical nature of the semiconductor industry; Risks associated with global business activities; General economic and political conditions. All financial figures discussed herein are prepared pursuant to IFRS. All audited figures will be publicly announced upon the completion of our audited process.
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MPI Corporation 6223€¦ · Taiwan OTC 2014 Advanced Semiconductor Test (AST) Division Established ... Fixed Assets 3,602 50% 3,505 53% Total Assets 7,264 100% 6,651 100%
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MPI Corporation 6223.TT
櫃買市場業績發表會
6th Apr. 2017
2
Presentation Disclaimer
The information herein contains forward-looking statements. We
have based these forward-looking statements on our current
expectations and projections about future events. Although we
believe that these expectations and projections are reasonable,
such forward-looking statements are inherently subject to risks,
uncertainties and assumptions about us, including, among other
things: the intensely competitive Semi-conductor, and LED
industries and markets; Cyclical nature of the semiconductor
industry; Risks associated with global business activities; General
economic and political conditions. All financial figures discussed
herein are prepared pursuant to IFRS. All audited figures will be
publicly announced upon the completion of our audited process.
Company at a Glance
3
Founded July, 25, 1995
Paid-in Capital NTD$ 796M (2017.3.31-the latest )
Employees 1454 (2017.3.31)
1995 2001
MPI
Corporation
Founded
Photonics
Automation
Division
Established
2003
MPI on
Taiwan OTC
2014
Advanced
Semiconductor
Test (AST)
Division
Established
2015
Thermal Test
Division
Established
Business Portfolio
4
67% 70%
73% 68%
30%
18% 20%
25%
3% 3%
7% 7%
0
200,000,000
400,000,000
600,000,000
800,000,000
1,000,000,000
1,200,000,000
1,400,000,000
1,600,000,000
1,800,000,000
0%
10%
20%
30%
40%
50%
60%
70%
80%
2016' Q1 2016' Q2 2016' Q3 2016' Q4
Probe Card LED New Business Unit Revenue
Net Sales by Geographic
5
NT$ MM
China
54%
Malaysia
30%
Taiwan
9%
Europe
4%
Rest of
Asia 3%
Taiwan
65%
USA
22%
Europe
2%
China
3% Rest of
Asia
8%
2016
Probe card Div.
2016
LED Equipment Div.
2016 51.9% 15.4% 17.0% 15.7% 100%
1,519
576 420
272
2,787
1,697
958 783
531
3,969
1876
801 581 530
3,788
2178
647 713 660
4,198
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
TAIWAN CHINA USA RoW Total
2013 2014 2015 2016
Business Contents Semi-conductor (Probe Card)
Photonics Automation (LED)
Thermal & AST
Financial Statements
6
Agenda
Semi-conductor (Probe Card)
7
櫃買市場業績發表會
6th Apr. 2017
Global Probe Card Market Update
8
Probe Cards
Memory
Applications
Epoxy /CPC
Advanced P/C
Non-Memory
Applications
Blade/ Tungsten
Epoxy/
Cantilever
Advanced Probe
Cards
$1.3 billion in 2015
CAGR 5.1% 2015-2020
40%
60%
Top 10 Probe Card Vendors (2009-2015)
(Rank) 2009 2010 2011 2012 2013 2014 2015
FormFactor, Inc. USA 1 1 2 2 1 1 1
Micronics Japan Co., Ltd. Japan 2 2 1 1 2 2 2
Technoprobe Italy 4 4 4 4 3 3 3
Japan Electronic Materials Japan 3 3 3 3 4 4 4
MPI Corporation Taiwan 6 5 6 6 5 5 5
Cascade Microtech USA 8 10 10 8 8 7 6
SV TCL Singapore 5 6 8 9 10 9 7
Will Technology Korea 7 7 7 5 6 10 8
Korea Instrument (KI) Korea 10 8 5 7 9 6 9
Microfriend Korea 9 9 9 10 7 8 10
9
CPC & VPC
CPC VPC
Product Mix of CPC (Cantilever)
11
71% 70%
64% 65%
28% 29%
35% 34%
1% 1% 1% 1%
0%
10%
20%
30%
40%
50%
60%
70%
80%
16'Q1 16'Q2 16'Q3 16'Q4
LCD Driver IC Logic Niche Memory
75%
86%
91%
94%
0% 20% 40% 60% 80% 100%
Top
05
Top
10
Top
15
Top
20
CPC Pin-Shipment
12
PIN
1.04
1.11
0.83
0.50
0.60
0.70
0.80
0.90
1.00
1.10
1.20
0
100,000
200,000
300,000
400,000
500,000
600,000
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2015 2016 2017 B/B Ratio
VPC Pin-Shipment
13
PIN
1.13
1.56
1.03
0.00
0.20
0.40
0.60
0.80
1.00
1.20
1.40
1.60
1.80
0
100,000
200,000
300,000
400,000
500,000
600,000
Jan. Feb. Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2015 2016 2017 B/B Ratio
CPC and VPC Yearly Status
14
PIN
46%
45%
44%
46%
40
41
42
43
44
45
46
47
48
49
50
0
1,000,000
2,000,000
3,000,000
4,000,000
5,000,000
6,000,000
2013 2014 2015 2016
CPC VPC Gross Margin
38.1%
%
65.6%
34.4%
61.9%
61.4%
38.6%
49.4%
50.5%
Gross Margin Between Global Peers
15
47.0%
42.2%
46.2% 46.6%
45.4%
40.8%
44.5% 46.7%
44.0%
49.7%
0%
10%
20%
30%
40%
50%
60%
14Q3 14Q4 15Q1 15Q2 15Q3 15Q4 16Q1 16Q2 16Q3 16Q4
F M J MPI
Operating Margin Between Global Peers
16
19.0%
9.9% 10.4% 10.7%
9.0%
1.8%
6.9%
13.7%
16.7% 15.6%
-30%
-20%
-10%
0%
10%
20%
30%
14Q3 14Q4 15Q1 15Q2 15Q3 15Q4 16Q1 16Q2 16Q3 16Q4
F M J MPI
Photonics Automation (LED)
17
櫃買市場業績發表會
6th Apr. 2017
Photonics Automation (PA) Overview
18
RD > 200
8 BUs
Product LED, PD, LD, OLED, µLED or other
Production Capacity > 150/month
Green
Milestone
19
推出第一台半自動LED晶圓點測機
推出LEDA品牌
PA部門成立 推出自動化光學檢測(AOI)系列
推出3GP 點測機系列及M76 挑揀機
推出T200 Tester及晶粒點測機 (DP76)系列
挑揀速度突破85ms
部門英文名稱改為 “Photonics Automation”
全球累計銷售突破10,000 台點測機(Prober)
推出M60D全自動高速挑揀機並同時突破55ms挑揀速度
正式推出SkyWalker品牌
Main Product Line
20
Probing System Wafer Flip chip Single die Package Probing Panel Bottom probing Single package
Testing System Mass production software Integrated spectrum meter Integrated source meter Package Testing From low to high power