大統新創股份有限公司 (Evertex Fabrinology Limited) Investors Meeting
Company Overview
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Company Name: 大統新創股份有限公司 (Evertex Fabrinology Limited)
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Event: Investors Meeting
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Mission/Vision:
- "Our mission is to always exceed client expectations and explore new possibilities while being sustainable."
- "Our passion for the outdoor keeps us fully committed to developing and innovating sustainable performance textiles for outdoor adventures."
- Slogan: "breeds innovation"
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Milestones:
- 1986 - 1999:
- 1986: Founded
- 1988: Dye house in operation
- 1996: Fabric Dept. for street wear fabrics established
- 1997: Warp knitting (tricot) mill established
- 2001 - 2010:
- 2007: OEKO-TEX® STANDARD 100 certified
- 2009: Fabrics development with outdoor brands
- 2010: ISO 9001:2008 Quality certified
- 2011 - 2016:
- 2014: bluesign® system partner
- 2015: ISO 14064-1 greenhouse gas certified
- 2016: ZDHC waste water testing
- 2016: First Higg Index facility module completion
- 2017 - 2020:
- 2017: Responsible Wool Standard (RWS) certified
- 2017: Photovoltaic solar power plant in operation
- 2018: ISO 9001:2015 quality certified
- 2018: CLEAN by Design partner
- 2019: Recycled Claim Standard (RCS) certified
- 2021 - 2024:
- 2022: Natural gas boilers replacing steam coal boilers
- 2023: Government officials on-site visit
- 1986 - 1999:
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Business Segments:
- 紡織事業 (Textile Business)
- 太陽能事業 (Solar Energy Business)
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Brand Partners:
- Cycling: 7MESH, ENDURA, GORE, Rapha, TRIMTEX, MAAP
- Outdoor Apparel Clothing: ARCTERYX, ALPKIT, EMS, Rab, Jack Wolfskin, NORRONA, SITKA, KÜHL, Amacpac, MEC, MX, OUTDOOR RESEARCH, KJUS, Salomon, Palm, The North Face, inov-8, REI, SALEWA, HH, THE <MOUNTAIN> STUDIO, ZAJO, KOLON SPORT
- Athleisure & Accessories: chloro phylle, YETI, Triumph, Smartwool, CINTAS, Thinx
- Team & Active Sports Wear: asics, Dof, errea
- Commission-Dye: NIKE, adidas, SAN MAR, Sympatise
Products, Services & Technology
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Certifications & Standards:
- OEKO-TEX® STANDARD 100
- ISO 9001:2008 Quality certified
- bluesign® system partner
- ISO 14064-1 greenhouse gas certified
- ZDHC (Zero Discharge of Hazardous Chemicals) waste water testing
- Higg Index facility module completion
- Responsible Wool Standard (RWS)
- ISO 9001:2015 quality certified
- CLEAN by Design partner
- Recycled Claim Standard (RCS)
- Footnote: The RCS (Recycled Claim Standard) and GRS (Global Recycle Standard) provide verification of recycled materials, and then track the material through to the final product.
- Reference: 1) https://bit.ly/3bUFICI (RCS's website), 2) https://bit.ly/350X58z (GRS's website)
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Specific Technologies/Processes:
- Dye house operations
- Fabric development for outdoor brands and street wear
- Warp knitting (tricot) mill
- Photovoltaic solar power plant operation
- Natural gas boilers replacing steam coal boilers
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Service Offerings:
- Commission-Dye services
Financial Highlights & Key Metrics
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Unit of Currency: 新台幣仟元 (NT$ Thousand)
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Sales Mix (銷售組合)
| Category | Metric | 2023年 | 2024年 | 2025年第一季 (Q1) |
|---|---|---|---|---|
| 紡織事業 | 營收淨額 (Net Revenue) | 643,833 | 777,288 | 211,974 |
| (Textile Business) | 毛利率 (Gross Margin) | 19.1% | 24.9% | 22.0% |
| 佔合計銷售額比率 | 98.3% | 98.6% | 99.1% | |
| (Proportion of Total Sales) | ||||
| 太陽能事業 | 營收淨額 (Net Revenue) | 11,388 | 10,751 | 1,968 |
| (Solar Energy Business) | 毛利率 (Gross Margin) | 57.7% | 57.0% | 30.5% |
| 佔合計銷售額比率 | 1.7% | 1.4% | 0.9% | |
| (Proportion of Total Sales) | ||||
| 銷售合計 | Total Sales | 655,221 | 788,039 | 213,942 |
- Financial Performance (財務績效)
| Metric | 2023年 | 2024年 | 2025年第一季 (Q1) |
|---|---|---|---|
| 營收淨額 (Net Revenue) | 655,221 | 788,039 | 213,942 |
| 年成長率 (YoY Growth Rate) | -22.5% | 20.3% | 12.5% |
| 營業毛利 (Gross Profit) | 129,818 | 199,383 | 45,044 |
| 毛利率% (Gross Margin %) | 19.8% | 25.3% | 21.1% |
| 營業費用 (Operating Expenses) | 96,468 | 112,015 | 28,871 |
| 年成長率 (YoY Growth Rate) | -8.9% | 16.1% | 8.5% |
| 營業淨利 (Operating Income) | 34,444 | 87,887 | 21,507 |
| 營業淨利率% (Operating Margin %) | 5.3% | 11.2% | 10.1% |
| 業外收支 (Non-operating Income/Expenses) | 22,734 | 32,813 | 8,397 |
| 稅後淨利 (Net Income After Tax) | 49,346 | 97,309 | 19,652 |
| 每股盈餘(元) (EPS (NT$)) | 0.58 | 1.13 | 0.23 |
- Financial Indicators (財務指標)
| Metric | 2023年 | 2024年 | 2025年第一季 (Q1) |
|---|---|---|---|
| 現金部位 (Cash Position) | 379,584 | 389,771 | 419,986 |
| 應收款項 (Accounts Receivable) | 54,429 | 67,409 | 79,058 |
| 平均收款(日) (Average Collection Days) | 34 | 28 | 31 |
| 存貨 (Inventory) | 140,608 | 162,748 | 139,576 |
| 平均周轉(日) (Average Inventory Turnover Days) | 116 | 94 | 82 |
| 應付款項 (Accounts Payable) | 29,555 | 38,160 | 36,089 |
| 平均付款(日) (Average Payment Days) | 23 | 21 | 20 |
Strategic Initiatives & Plans
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Solar Power Plant:
- Carbon Savings: 1,069 tons CO2 / year
- Panels: 300W x 6,660 PV panels
- Produces: 2,100,984 kWh/year
- Purpose: Reserve Power, Create Power
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Environmental Initiatives:
- ISO 14064-1 greenhouse gas certified (2015)
- ZDHC waste water testing (2016)
- CLEAN by Design partner (2018)
- Natural gas boilers replacing steam coal boilers (2022)
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Capital Expenditure (資本支出)
- Unit: 新台幣仟元 (NT$ Thousand)
| Category | 2023年 | 2024年 | 2025年第一季 (Q1) |
|---|---|---|---|
| 生產設備 (Production Equipment) | 24,227 | 16,364 | 34,104 |
| 廠房改善 (Plant Improvement) | 230 | 1,806 | 7,000 |
| 環保工程 (Environmental Projects) | 28,951 | 4,507 | 1,500 |
Future Outlook & Guidance
Based on the provided data for 2024 and 2025 Q1, the company projects:
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Revenue Growth:
- Net Revenue is projected to increase by 20.3% in 2024 to NT$ 788,039 thousand, and continue growing by 12.5% in Q1 2025 (compared to Q1 2024, implied).
- The Textile Business is expected to remain the dominant revenue driver, accounting for over 98% of total sales.
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Profitability Improvement:
- Gross Margin is projected to improve from 19.8% in 2023 to 25.3% in 2024, with a slight adjustment to 21.1% in Q1 2025.
- Operating Margin is expected to significantly increase from 5.3% in 2023 to 11.2% in 2024, settling at 10.1% in Q1 2025.
- Net Income After Tax is projected to almost double from NT$ 49,346 thousand in 2023 to NT$ 97,309 thousand in 2024.
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Earnings Per Share (EPS):
- EPS is projected to increase from NT$ 0.58 in 2023 to NT$ 1.13 in 2024.
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Operational Efficiency:
- Average Collection Days are expected to decrease from 34 days in 2023 to 28 days in 2024, then slightly increase to 31 days in Q1 2025.
- Average Inventory Turnover Days are projected to decrease significantly from 116 days in 2023 to 94 days in 2024, and further to 82 days in Q1 2025, indicating improved inventory management.
- Average Payment Days are expected to remain stable or slightly decrease, from 23 days in 2023 to 21 days in 2024, and 20 days in Q1 2025.
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Capital Expenditure:
- Significant capital expenditure is planned for Production Equipment in Q1 2025 (NT$ 34,104 thousand), indicating investment in capacity or technology.
- Plant Improvement expenditure is also projected to increase substantially in Q1 2025 (NT$ 7,000 thousand).
- Environmental Projects expenditure is projected to decrease in 2024 and Q1 2025 after a higher investment in 2023.
Key Charts, Graphs, and Data Points
- Milestone Timeline: Visual representation of key historical achievements and certifications.
- Solar Power Plant Overview: Image of the plant with key performance metrics (Carbon Savings, Panel count, Production in kWh/year).
- Brand Partner Logos: Categorized display of numerous brand logos across Cycling, Outdoor Apparel, Athleisure & Accessories, Team & Active Sports Wear, and Commission-Dye.
- Sales Mix Table: Detailed breakdown of revenue, gross margin, and proportion of total sales for Textile and Solar Energy businesses across 2023, 2024, and 2025 Q1.
- Financial Performance Table: Comprehensive financial data including revenue, growth rates, gross profit, operating expenses, operating income, net income, and EPS for 2023, 2024, and 2025 Q1.
- Financial Indicators Table: Key operational efficiency metrics such as cash position, receivables, payables, inventory, and their respective turnover/collection/payment days for 2023, 2024, and 2025 Q1.
- Capital Expenditure Bar Chart: Visual representation of capital expenditure broken down by Production Equipment, Plant Improvement, and Environmental Projects for 2023, 2024, and 2025 Q1.