Global Lighting Technologies Inc. (茂林光電科技(開曼)股份有限公司) (4935.TW) 2024Q3 法說會簡報
Company Overview
- Company Name: Global Lighting Technologies Inc. (茂林光電科技(開曼)股份有限公司)
- Stock Code: 4935.TW
- Establishment Date: 2000.07.28
- IPO Date: 2011.07.28
- Capital: 1,288,640,910 NTD
- Employee Count: 1,200+人 (1,200+ people)
- Main Products: 導光板製造 (Light Guide Plate Manufacturing)
- Global Presence:
- Cleveland, Ohio: Established in 2000
- Su-zhou, China: Established in 2004
- Shang-hai, China: Established in 1993
- HaNam, Vietnam: Established in 2023
- Zhong-shan, China: Established in 2011
- Tong-luo, Taiwan: Established in 2013
- Zhong-Li, Taiwan: Established in 2000
- Chon Buri, Thailand: Established in 2024
- Tokyo, Japan (Office location)
Products, Services & Technology
- Main Product: 導光板製造 (Light Guide Plate Manufacturing)
- Core Technical Capabilities:
- 光學設計 (Optical Design)
- 精密加工 (Precision Processing)
- Intelligent Production Technology:
- 自動化生產 (Automated Production)
- 自動化檢測 (Automated Inspection)
- Application Areas:
- 高階光學應用產品 (High-end Optical Application Products)
- 銷售模組產品 (Module Products Sales)
- IT (Information Technology)
- 消費性產品 (Consumer Products)
- 車載應用 (Automotive Applications)
- 生技醫療相關 (Biotech/Medical Related)
Financial Highlights
2Q24 Consolidated Income Statement
| Metric | 2Q24 Amount | 2Q24 % | 1Q24 Amount | 1Q24 % | QoQ % |
|---|---|---|---|---|---|
| 營業收入 (Operating Revenue) | 1,807,614 | 100% | 1,407,650 | 100% | 28% |
| 營業毛利 (Gross Profit) | 317,875 | 18% | 230,214 | 16% | 38% |
| 營業費用 (Operating Expenses) | 198,523 | 11% | 178,668 | 13% | 11% |
| 營業淨利 (Operating Income) | 119,352 | 7% | 51,546 | 3% | 132% |
| 營業外收入及支出 (Non-operating Income & Expenses) | (384) | 0% | 80,629 | 6% | -100% |
| 稅前利益 (Pre-tax Income) | 118,968 | 7% | 132,175 | 9% | -10% |
| 稅後純益 (Net Income after Tax) | 163,220 | 9% | 128,980 | 9% | 27% |
| 稅後每股盈餘 (EPS after Tax) | 1.27 | 1.00 |
1H24 Consolidated Income Statement
| Metric | 1H24 Amount | 1H24 % | 1H23 Amount | 1H23 % | YoY % |
|---|---|---|---|---|---|
| 營業收入 (Operating Revenue) | 3,215,264 | 100% | 2,844,569 | 100% | 13% |
| 營業毛利 (Gross Profit) | 548,089 | 17% | 361,790 | 13% | 51% |
| 營業費用 (Operating Expenses) | 377,191 | 12% | 342,861 | 12% | 10% |
| 營業淨利 (Operating Income) | 170,898 | 5% | 18,929 | 1% | 803% |
| 營業外收入及支出 (Non-operating Income & Expenses) | 80,245 | 3% | 140,594 | 5% | -43% |
| 稅前利益 (Pre-tax Income) | 251,143 | 8% | 159,523 | 6% | 57% |
| 稅後純益 (Net Income after Tax) | 292,200 | 9% | 135,653 | 5% | 115% |
| 稅後每股盈餘 (EPS after Tax) | 2.27 | 1.05 |
Recent Performance and Results
Product Sales Structure
| Category | 1H24 (3,215,264) | 2H23 (3,095,307) | 1H23 (2,844,569) |
|---|---|---|---|
| Consumer | 21% | 19% | 17% |
| Display | 5% | 6% | 5% |
| IT | 63% | 64% | 64% |
| Wearable | 11% | 11% | 14% |
Revenue & Gross Margin Trend Analysis
| Quarter | Operating Revenue | Gross Margin % |
|---|---|---|
| 1Q23 | 1,087,079 | 6% |
| 2Q23 | 1,757,490 | 17% |
| 3Q23 | 1,536,922 | 16% |
| 4Q23 | 1,558,385 | 16% |
| 1Q24 | 1,407,650 | 16% |
| 2Q24 | 1,807,614 | 18% |
2024 Monthly Revenue
| Month | Monthly Revenue |
|---|---|
| 1 | 558,002 |
| 2 | 298,500 |
| 3 | 551,148 |
| 4 | 618,614 |
| 5 | 621,136 |
| 6 | 567,864 |
| 7 | 675,358 |
| 8 | 700,887 |
Future Outlook and Guidance
Vietnam Investment Progress
- 2023Q1: 廠址確認 (Site Confirmation)
- 2023Q3: 越南子公司設立 (Vietnam Subsidiary Established)
- 2024Q4: 建廠完成 (Factory Construction Completed)
- 2025Q1: 試量產 (Pilot Production)
Strategic Initiatives and Plans
Operational Strategies & Outlook
- 深耕核心技術能力 (Deepening Core Technical Capabilities)
- Focus on: 光學設計 (Optical Design) and 精密加工 (Precision Processing).
- Goal: Develop 高階光學應用產品 (High-end Optical Application Products).
- 強化智能化生產技術 (Strengthening Intelligent Production Technology)
- Focus on: 自動化生產 (Automated Production) and 自動化檢測 (Automated Inspection).
- Goal: Enhance 銷售模組產品 (Sales of Module Products).
- 延伸導光技術應用範圍 (Extending Light Guide Technology Application Scope)
- Expand into: 車載應用 (Automotive Applications) and 生技醫療相關 (Biotech/Medical Related) fields.
- Goal: 開發IT、消費性產品以外產品應用 (Develop applications beyond IT and Consumer Products).
Additional Data
Dividend Policy
| Year | 每股盈餘 (EPS) | 股利 (Dividend) | 配息率 (Payout Ratio) |
|---|---|---|---|
| 2014 | 4.52 | 2 | 44% |
| 2015 | 6.67 | 3.5 | 52% |
| 2016 | 6.05 | 3 | 50% |
| 2017 | 2.07 | 1 | 48% |
| 2018 | 1.29 | 0.8 | 62% |
| 2019 | 2.63 | 1.5 | 57% |
| 2020 | 10.35 | 5.5 | 53% |
| 2021 | 9.74 | 5 | 51% |
| 2022 | 8.05 | 4 | 50% |
| 2023 | 2.57 | 1.5 | 58% |
Disclaimers
- This presentation and related information contain forward-looking information obtained from internal and external sources. The company's actual future operating results, financial conditions, and business outlook may differ from the estimates expressed or implied by this forward-looking information, possibly due to various risks beyond the company's control.
- The future outlook in this presentation reflects the company's current views. The company is not responsible for timely reminders or updates if these views change or are adjusted in the future.