羅昇企業 (ACE PILLAR) 2025 第一季法人說明會
日期: 2025 年 5 月 15 日
所屬集團: 明基佳世達集團 (BenQ Qisda Group)
版權聲明: ACE PILLAR Co., Ltd. © 2023 All Rights Reserved.
公司概覽與管理團隊
- 公司名稱: 羅昇企業 (ACE PILLAR)
- 願景: 綠能暨智動化解決方案整合服務專家 (Green Energy & Automation Solutions Integration Service Expert)
- 與會人員:
- 董事長 (Chairman): 曾文興 (Joshua Tzeng)
- 總經理 (President): 李長堅 (Chris Li)
- 財務長 (CFO): 陳國美 (Denise Chen)
財務亮點與關鍵指標
2.1 合併綜合損益表摘要 (單位: 新台幣百萬元)
| 項目 (Item) | 2025 第一季 | 2024 第四季 | QoQ amt | QoQ ±% | 2024 第一季 | YoY amt | YoY ±% |
|---|---|---|---|---|---|---|---|
| 銷貨淨額 (Net Sales) | 1,113 (100%) | 1,213 (100%) | (100) | -8% | 702 (100%) | 411 | 59% |
| 營業成本 (Cost of Goods Sold) | (817) | (899) | 82 | (542) | (275) | ||
| 營業毛利 (Gross Profit) | 296 (27%) | 314 (26%) | (18) | 1% | 160 (23%) | 136 | 4% |
| 營業費用 (Operating Expenses) | (211) (-19%) | (219) (-18%) | 8 | 1% | (161) (-23%) | (50) | -4% |
| 營業淨利 (Operating Income) | 85 (8%) | 95 (8%) | (10) | 0% | (1) (0%) | 86 | 8% |
| 營業外收支及費用 (Non-operating Income/Expenses) | (2) | 35 | (37) | 6 | (8) | ||
| 稅前純益 (Income Before Tax) | 83 (8%) | 130 (11%) | (47) | -3% | 5 (1%) | 78 | 7% |
| 稅後純益 (Net Income) | 64 (6%) | 103 (8%) | (39) | -2% | 2 (0%) | 62 | 6% |
| 本期淨利歸屬於母公司業主 (Net Income Attributable to Owners of Parent) | 27 (3%) | 45 (4%) | (18) | -1% | 0.20 (0%) | 26.8 | 3% |
| 基本每股盈餘(NT$) (a) (Basic EPS (NT$)) | 0.24 | 0.40 | (0.16) | 0.002 | 0.24 | ||
| (a) 基本每股盈餘以加權平均流通在外股數計算 (Basic EPS is calculated based on weighted average outstanding shares) |
2.2 合併資產負債表摘要 (單位: 新台幣百萬元)
| 項目 (Item) | 2025.03.31 | 2024.12.31 | QoQ amt | QoQ ±% | 2024.03.31 | YoY amt | YoY ±% |
|---|---|---|---|---|---|---|---|
| 現金及約當現金 (Cash and Cash Equivalents) | 1,071 (21%) | 1,238 (23%) | (167) | -2% | 439 (15%) | 632 | 6% |
| 應收票據及帳款 (Notes and Accounts Receivable) | 940 (18%) | 978 (18%) | (38) | 0% | 915 (31%) | 25 | -13% |
| 存貨 (Inventories) | 950 (18%) | 940 (17%) | 10 | 1% | 616 (21%) | 334 | -3% |
| 不動產、廠房及設備 (Property, Plant and Equipment) | 557 (11%) | 553 (10%) | 4 | 1% | 561 (19%) | (4) | -8% |
| 無形資產 (Intangible Assets) | 1,319 (25%) | 1,338 (25%) | (19) | 0% | 184 (6%) | 1,135 | 19% |
| 資產總計 (Total Assets) | 5,237 (100%) | 5,427 (100%) | (190) | 0% | 2,973 (100%) | 2,264 | 0% |
| 應付票據及帳款 (Notes and Accounts Payable) | 592 (11%) | 638 (12%) | (46) | -1% | 340 (11%) | 252 | 0% |
| 長短期借款 (Short-term and Long-term Borrowings) | 325 (6%) | 518 (10%) | (193) | -4% | 218 (8%) | 107 | -2% |
| 特別股負債 (Preferred Stock Liabilities) | 166 (3%) | 166 (3%) | 0 | 0% | 0 (0%) | 166 | 3% |
| 應付公司債 (Bonds Payable) | 470 (9%) | 467 (9%) | 3 | 0% | 0 (0%) | 470 | 9% |
| 負債總計 (Total Liabilities) | 2,301 (44%) | 2,526 (47%) | (225) | -3% | 928 (31%) | 1,373 | 13% |
| 權益總計 (Total Equity) | 2,936 (56%) | 2,901 (53%) | 35 | 3% | 2,044 (69%) | 892 | -13% |
| 每股淨值 (Book Value Per Share) | 18.60 | 18.61 | (0.01) | 17.35 | 1.25 |
2.3 現金流量表摘要 (單位: 新台幣百萬元)
| 項目 (Item) | 2023 | 2024 | 2025 第一季 |
|---|---|---|---|
| 期初現金 (Cash at Beginning of Period) | 436 | 392 | 1,238 |
| 營運活動現金流入 (Cash Inflow from Operating Activities) | 187 | 400 | 39 |
| 投資活動現金流出 (Cash Outflow from Investing Activities) | (5) | (356) | (16) |
| 對子公司之收購 (Acquisition of Subsidiaries) | - | (305) | - |
| 籌資活動現金流入(出) (Cash Inflow (Outflow) from Financing Activities) | (221) | 778 | (210) |
| 發行公司債 (Issuance of Corporate Bonds) | - | 530 | - |
| 其他 (Others) | (5) | 25 | 21 |
| 期末現金 (Cash at End of Period) | 392 | 1,238 | 1,071 |
2.4 重要財務指標
| 項目 (Item) | 2025.03.31 | 2024.12.31 | QoQ | 2024.03.31 | YoY |
|---|---|---|---|---|---|
| 應收帳款週轉天數 (Accounts Receivable Turnover Days) | 79 | 94 | -15 | 119 | -40 |
| 存貨週轉天數 (Inventory Turnover Days) | 105 | 105 | 0 | 108 | -3 |
| 應付帳款週轉天數 (Accounts Payable Turnover Days) | 69 | 65 | 4 | 59 | 10 |
| 營運資金週轉天數 (Working Capital Turnover Days) | 115 | 134 | -19 | 168 | -53 |
| 流動比率 (Current Ratio) | 201% | 216% | -15ppt | 255% | -54ppt |
| 速動比率 (Quick Ratio) | 135% | 151% | -16ppt | 172% | -37ppt |
| 負債比率 (Debt Ratio) | 44% | 47% | -3ppt | 31% | +13ppt |
| 權益報酬率 (a) (Return on Equity (a)) | 8.8% | 5.9% | +2.9ppt | 0.3% | +8.5ppt |
| (a) 採年化稅後損益/平均權益總額 (Calculated as annualized net income after tax / average total equity) |
近期績效與成果
3.1 2025年第一季財務結果
- 銷貨淨額: 1,113 百萬元，較 2024 年第四季減少 8%，較 2024 年第一季大幅成長 59%。
- 營業毛利: 296 百萬元，毛利率 27%。
- 營業淨利: 85 百萬元，營業淨利率 8%。
- 稅後純益: 64 百萬元。
- 基本每股盈餘: 0.24 元。
3.2 羅昇集團 產品別/地區別財務績效
合併營收 (NTD M):
- 2024 Q1: 702
- 2025 Q1: 1,113
產品營收佔比:
| 產品類別 | 2024 Q1 | 2025 Q1 |
|---|---|---|
| 自動化控制類 (Automation Control) | 37% | 26% |
| 工業傳動類 (Industrial Transmission) | 29% | 18% |
| 能源管理產品類 (Energy Management Products) | 16% | 11% |
| 半導體設備材料 (Semiconductor Equipment Materials) | 18% | (未單獨列出，可能併入設備及耗材類或銷售及服務類) |
| 銷售及服務類 (Sales & Services) | 18% | 13% |
| 設備及耗材類 (Equipment & Consumables) | - | 32% |
地區營收佔比:
| 地區 | 2024 Q1 | 2025 Q1 |
|---|---|---|
| Taiwan | 48% | 33% |
| China | 39% | 28% |
| Europe | 13% | 19% |
| Americas | - | 12% |
| Others | 0% | 8% |
未來展望與指引
- 議程項目: 營運發展概況及展望 (Operational Development Overview & Outlook)
- 總體目標: 成為客戶產業升級轉型的最佳好夥伴 (Becoming the best partner for customer industrial upgrade and transformation)
- 免責聲明: 本次法說會提供之簡報包含前瞻性陳述，內容包含本公司財務狀況、未來擴張計劃及公司策略等訊息。儘管本公司認為該期望和預測具合理性，但此類前瞻性聲明仍涉及風險及不確定性。若因未來實際結果與預期狀況有重大差異，須公開更新或修改任何前瞻性陳述，本公司將不承擔此責任。
策略性倡議與計劃
5.1 羅昇中期成長計劃
羅昇企業致力於成為客戶產業升級轉型的最佳好夥伴，主要透過三大核心領域推動成長：
- AI智動化 (AI Automation):
- 核心能力/解決方案:
- Pick & Place
- AI 機器視覺 (瑕疵檢測) (AI Machine Vision (Defect Detection))
- 包裝/堆棧 (Packaging/Stacking)
- AGV/AMR (Automated Guided Vehicle/Autonomous Mobile Robot)
- Solution Pack
- MES (Manufacturing Execution System)
- 數據分析及雲端管理平台 (Data Analysis & Cloud Management Platform)
- 核心能力/解決方案:
- 綠能 (Green Energy):
- 核心能力/解決方案:
- 節能、綠能與儲能永續整合方案 (Sustainable Integration Solutions for Energy Saving, Green Energy, and Energy Storage)
- 充電與能源服務營運管理平台/系統 (Charging & Energy Service Operation Management Platform/System)
- 充電樁 (Charging Piles), UPS (Uninterruptible Power Supply), 電池 (Batteries)...
- “氫”解決方案 (Hydrogen Solutions)
- 核心能力/解決方案:
- 半導體 (Semiconductor):
- 核心能力/解決方案:
- 半導體廠務系統/設備/元件/耗材 (Semiconductor Fab Systems/Equipment/Components/Consumables)
- 半導體製程設備/元件/耗材 (Semiconductor Process Equipment/Components/Consumables)
- 智慧物流 系統/設備/元件 (Smart Logistics Systems/Equipment/Components)
- 核心能力/解決方案:
5.2 策略布局與方案規劃
- Business Model 1: 產品銷售 (Product Sales)
- 核心: Product Devices, Buy & Sale Business, Pricing & Delivery, eCommerce
- 產品模組:
- 運算控制模組 (Computing Control Module)
- 電源節能模組 (Power Saving Module)
- 感測檢測模組 (Sensing & Detection Module)
- 傳輸通訊模組 (Transmission & Communication Module)
- 機械傳動模組 (Mechanical Transmission Module)
- Business Model 2: 技術銷售 (Technical Sales)
- 核心: Domain Applications, Technical Services, Domain expertise, H/W + S/W (Hardware + Software)
- Business Model 3: 方案銷售 (Solution Sales)
- 核心: Solution Business, Eco-system Partners, BDM + PM (Business Development Manager + Project Manager), M&A or JV (Mergers & Acquisitions or Joint Ventures)
- 整體解決方案:
- 捆包堆棧整體解決方案 (Overall Packaging & Stacking Solutions)
- 能源監控與管理解決方案 (Energy Monitoring & Management Solutions)
- 智動化設備與智能化方案 (Automation Equipment & Smart Solutions)
- 軟體應用與加值方案 (Software Applications & Value-added Solutions)
產品、服務與技術
6.1 綠能暨智動化解決方案整合服務專家
- 羅昇企業 (ACE PILLAR):
- 定位: 智動化機電零組件通路商及解決方案服務提供者 (Distributor of automation electromechanical components and provider of solutions and services)
- 核心業務: 智動化解決方案 (Automation Solutions)
- 達昇能源 (ACE ENERGY):
- 核心業務: 創能、儲能、節能 (Energy Creation, Storage, and Saving)
- 服務範圍: 專注於能源服務，涵蓋空調空壓、熱回收、照明、用電管理等。 (Focuses on energy services, covering HVAC, heat recovery, lighting, power management, etc.)
- TRANSPAK:
- 核心業務: 捆包機解決方案 (Packaging Machine Solutions)
- 市場地位: 怡進是外銷導向的捆包機領導品牌，75%的產品銷售於歐美市場。 (Yijin is an export-oriented leading brand of packaging machines, with 75% of products sold in European and American markets.)
- BlueWalker PowerWalker:
- 核心業務: 不斷電系統 (Uninterruptible Power Supply (UPS) Systems)
- 市場地位: 專業的UPS和逆變器供應商，並在歐洲、中東和非洲皆有銷售通路。 (Professional UPS and inverter supplier, with sales channels in Europe, Middle East, and Africa.)
- 氫豐 (Blade Hydro):
- 核心業務: 氫能與燃料電池 (Hydrogen Energy & Fuel Cells)
- 技術專長: 移轉金屬板電堆與混氫發電技術，致力於開發綠能。 (Transfers metal plate stack and mixed hydrogen power generation technology, dedicated to developing green energy.)
- STC 資騰科技 (STC Ziten Technology):
- 核心業務: 半導體設備 (Semiconductor Equipment)
- 服務範圍: 半導體及光電太陽能相關設備、耗材及零組件之代理銷售及技術服務業務。 (Agency sales and technical service business for semiconductor and optoelectronic solar related equipment, consumables, and components.)
6.2 產品與解決方案 (Products & Solutions)
- 產品整合 (Products Integration):
- 變頻能源 (Variable Frequency Energy)
- 運動控制 (Motion Control)
- 流體機械 (Fluid Machinery)
- 智能應用 (Smart Applications):
- 機器手臂與機器視覺 (Robotic Arms & Machine Vision)
- 系統規劃與專案服務 (System Planning & Project Services)
- 感測模組與設備整合 (Sensing Modules & Equipment Integration)
- 技術服務 (Technical Services):
- 技術服務 (Technical Services)
- 品質售後 (Quality After-Sales)
- 維修服務 (Maintenance Services)
6.3 AI 數據服務 與 數位雙生 (AI Data Services & Digital Twin)
- 目標/效益:
- 碳盤查/碳足跡 (Carbon Inventory/Carbon Footprint)
- 預測性/預防性維護保養 (Predictive/Preventive Maintenance)
- 生產履歷/效率提升 (Production Traceability/Efficiency Improvement)
- 核心層次:
- 應用層:
- 先進廠務管理 (Advanced Facility Management)
- 智動化生產 (Intelligent Automation Production)
- 設備層:
- 智能設備 (Smart Device / Machine)
- 基礎層:
- 元件 / Component (Components / Components)
- 模組,次系統 / Module, Sub-system (Modules, Sub-systems)
- 應用層:
- 兩大主軸:
- 綠色智造 (Green Smart Manufacturing): 能源管理、節能減碳 (Energy Management, Energy Saving & Carbon Reduction)
- 數位賦能 (Digital Empowerment): 智慧製造、精實管理 (Smart Manufacturing, Lean Management)
聯絡資訊
- 電話: +886-2-2995-8400
- 電子郵件: sales@acepillar.com.tw
- 網址: www.acepillar.com.tw