億光電子工業股份有限公司 (EVERLIGHT ELECTRONICS CO., LTD.) 2025 Q1 法說會簡報
Company Overview
- Company Name: 億光電子工業股份有限公司 (EVERLIGHT ELECTRONICS CO., LTD.)
- Founding Year: 1983年
- Business Scope:
- Manufacturing, R&D, and sales of LED components and lighting fixtures.
- Headquarters: 新北市樹林區 (Shulin District, New Taipei City)
- Employees: Approximately 4,500 people globally
- Production Sites:
- 苑裡(臺灣) (Yuanli, Taiwan)
- 土城(臺灣) (Tucheng, Taiwan)
- 銅鑼(臺灣) (Tongluo, Taiwan)
- 蘇州(大陸) (Suzhou, China)
- 廣東(大陸) (Guangdong, China)
- Company Description & Mission:
- 40 years of experience integrating professional R&D, business, and market teams.
- Focused on providing comprehensive LED solutions to global customers.
- Significant position in the world LED industry.
- Committed to delivering high-quality, competitive products and services.
Products, Services & Technology
Product Application Mix (2025 Q1 & Past Five Years)
| Product Category | 2020年 | 2021年 | 2022年 | 2023年 | 2024年 | 2025Q1 |
|---|---|---|---|---|---|---|
| 不可見光 (Invisible Light) | ~38% | 38% | 40% | |||
| 照明 (Lighting) | ~18% | 8% | 8% | |||
| 背光 (Backlight) | ~15% | 8% | 8% | |||
| 消費性電子及手機 (Consumer Electronics & Mobile Phones) | ~12% | 17% | 15% | |||
| 車用 (Automotive) | ~10% | 22% | 23% | |||
| 其他 (Others) | ~7% | 3% | 1% |
Infrared and Optoelectronic Product Applications
- Printing Control Board
- Facial Recognition
- Industrial Automation
- Smartphones
- Smart Home
- Smart Wearables
- Medical Blood Oxygen
- Smart Meters
- Home Appliance Control
- Charging Piles
- Photovoltaic Energy Storage
- Inverter Servo
General Product Applications
Focus on 價值提升 (Value Enhancement) across various sectors:
- Keyboards/Gaming Peripherals:
- New pkg design in
- Mini LED
- Home Appliances:
- New pkg design in
- Matrix display
- Industrial Control Equipment:
- Increase market share
- Flashlights:
- Increase market share
- Pkg optimize
- Networking Equipment:
- New pkg design in
- New equipment
Automotive Product Field
- Exterior & Interior Application (Automotive)
- Vehicle Electrification Application Components:
- Interior/Exterior Lighting
- In-car Display Backlight
- IR Sensing
- Power Isolation
- Power Components
- Examples of Electric Vehicles:
- Electric Scooter
- E-Bike (Electric Bicycle)
- Electric Motorcycle
- Electric Car
- Electric Official Vehicle
- Electric Bus
Financial Highlights and Recent Performance (2025 Q1)
Historical Revenue and Gross Profit Margin
- Unit: 百萬元新台幣 (Millions of NTD)
- Gross Profit Margin (毛利率(R)) Trend:
- 2020: 25.0%
- 2021: ~26.5%
- 2022: ~28.0%
- 2023: ~29.5%
- 2024: ~30.0%
- 2025 Q1: 30.4%
2025 Q1 Income Statement
| Item | 2025 Q1 (NTD Thousands) | Sales % (2025) | 2024 Q1 (NTD Thousands) | Sales % (2024) | YOY(%) |
|---|---|---|---|---|---|
| 營業收入 (Operating Revenue) | 5,026,191 | 100.00% | 4,905,019 | 100.00% | 2.47% |
| 銷貨成本 (Cost of Goods Sold) | (3,498,742) | -69.61% | (3,415,674) | -69.64% | 2.43% |
| 營業毛利 (Gross Profit) | 1,527,449 | 30.39% | 1,489,345 | 30.36% | 2.56% |
| 營業費用 (Operating Expenses) | (903,092) | -17.97% | (952,451) | -19.42% | -5.18% |
| 營業淨利 (Operating Income) | 624,357 | 12.42% | 536,894 | 10.95% | 16.29% |
| 營業外收入及支出 (Non-operating Income and Expenses) | 111,776 | 2.22% | 402,772 | 8.21% | -72.25% |
| 稅前淨利 (Profit Before Tax) | 736,133 | 14.65% | 939,666 | 19.16% | -21.66% |
| 所得稅費用 (Income Tax Expense) | (143,134) | -2.85% | (178,637) | -3.64% | -19.87% |
| 本期淨利 (Net Profit for the Period) | 592,999 | 11.80% | 761,029 | 15.52% | -22.08% |
| 歸屬於母公司本期淨利 (Net Profit Attributable to Owners of the Parent) | 584,156 | 741,398 | |||
| EPS | 1.32 | 1.67 |
- Weighted Average Shares Outstanding: 443 Million Shares for both 2025 and 2024.
Consolidated Balance Sheet
- Unit: 新台幣千元 (NTD Thousands)
- As of March 31, 2025:
- Total Assets: $30,304,260
- Current Assets: $20,604,850
- Cash and Cash Equivalents: $5,591,915
- Accounts Receivable (incl. related parties): $6,004,893
- Inventories, net: $1,042,972
- Non-current Assets: $9,699,410
- Property, Plant and Equipment: $5,685,603
- Current Assets: $20,604,850
- Total Liabilities and Equity: $30,304,260
- Total Liabilities: $8,789,094
- Short-term Borrowings: $750,000
- Total Equity: $21,515,166
- Share Capital: $4,433,931
- Capital Surplus: $8,818,763
- Retained Earnings: $8,253,676
- Total Liabilities: $8,789,094
- Total Assets: $30,304,260
Net Cash (Debt)
- Unit: Million NTD
- Trend: Positive net cash position maintained, with Cash & Cash Equivalents consistently higher than Long-term & Short-term Borrowings.
- As of March 2025:
- Cash & Cash Equivalents (incl. Short-term Investments): ~12,483 Million NTD
- Long-term & Short-term Borrowings (incl. CB): (Very small bar, implying low debt)
- Net Cash (Debt): ~11,483 Million NTD
Dividend Policy and Historical EPS
Historical EPS and Cash Dividends
| 年度 (Year) | EPS(元) (NTD) | 股利(元) (NTD) | 股利配發率(合計) (%) |
|---|---|---|---|
| 2025年 | 5.31 | 80% | |
| 2024年 | 6.64 | 0.60 | 96% |
| 2023年 | 3.32 | 2.60 | 78% |
| 2022年 | 2.78 | 2.50 | 90% |
| 2021年 | 4.37 | 3.50 | 80% |
| 2020年 | 2.79 | 2.25 | 81% |
| 2019年 | 1.86 | 1.40 | 75% |
| 2018年 | 1.80 | 1.50 | 83% |
| 2017年 | 2.74 | 3.00 | 109% |
| 2016年 | 4.13 | 3.00 | 70% |
Dividend Policy
- Company articles of incorporation stipulate a payout of 50% or more, primarily in cash.
- Recent payout ratios have been above 70%. This year's estimated payout ratio is 80% (subject to shareholder meeting approval).
Disclaimer
- This presentation is provided by Everlight Electronics. The content has not been reviewed by accountants or any independent third party.
- Users should refer to the complete and publicly disclosed financial and business information filed by Everlight Electronics with the competent authorities.
- Everlight strives to ensure the correctness, completeness, and accuracy of the content but does not guarantee all information is completely accurate.
- Changes in circumstances may not lead to immediate revisions of the content.
- This presentation may contain forward-looking statements subject to uncertainties and risks that may lead to significant differences in results.
- The content is not an offer, solicitation, or recommendation to buy or sell any securities or financial products.
- Everlight Electronics and its affiliated entities shall not be liable for any damages caused by the use or citation of the information by others.