Epileds Technologies Inc. (光鋐科技股份有限公司) - 2024 Q2 Operating Results Briefing
Company Overview
Epileds Technologies Inc. (光鋐科技股份有限公司) is a company founded on June 12, 2006, with its current capital at NT$ 1,004,082,360. The company is led by Chairman and General Manager 許明森 (Xu Mingsen) and is located at No. 7, Kanxi Rd., Xinshi Dist., Tainan City, Taiwan. As of September 2024, the company employs approximately 400 people.
Products and Services
The company's main products include:
- 超高亮度發光二極體藍、綠光磊晶片與晶粒 (Ultra-high brightness blue and green LED epitaxial wafers and chips)
- 超高亮度發光二極體紅、黃、橙光磊晶片與晶粒 (Ultra-high brightness red, yellow, and orange LED epitaxial wafers and chips)
- 超高亮度發光二極體封裝模組及相關應用產品 (Ultra-high brightness LED packaging modules and related application products)
Company History
Key milestones in the company's history include:
- 2006: Company approved for establishment and began setting up production lines.
- 2007: Officially commenced operations and production.
- 2010: Stock applied for public offering and became effective, established Suzhou Epileds Optoelectronics Co., Ltd.
- 2011: Listed on the Taiwan Stock Exchange.
- 2017: Added factory buildings in Shugu Park, Tainan City.
- 2018: Completed registered address change.
- 2021: Completed installation of fixed pollution source VOC control equipment.
- 2022: Promoted greenhouse gas and carbon footprint inventory.
- 2023: Awarded the "Healthy Workplace Self-Certification - Health Promotion Mark" by the Ministry of Health and Welfare, National Health Agency.
- 2024: Promoted energy health check and power saving project.
Financial Highlights
Q2 Comparison
| Item | 2024 Q2 | 2023 Q2 | YoY |
|---|---|---|---|
| Net Revenue | 336,913 | 293,139 | 15% |
| Gross Profit | 53,812 | 10,135 | 431% |
| Gross Margin | 16% | 3% | |
| Operating Income (Loss) | 1,116 | -33,877 | 103% |
| Net Profit (Loss) for the Period | 2,128 | -22,780 | 109% |
| Basic EPS | 0.02 | -0.23 |
Half-Year Comparison
| Item | 2024 H1 | 2023 H1 | YoY |
|---|---|---|---|
| Net Revenue | 606,907 | 593,073 | 2% |
| Gross Profit | 63,460 | 24,591 | 158% |
| Gross Margin | 10% | 4% | |
| Operating Income (Loss) | -34,373 | -64,997 | 47% |
| Net Profit (Loss) for the Period | -10,925 | -48,182 | 77% |
| Basic EPS | -0.11 | -0.48 |
Consolidated Balance Sheets
Assets
| Item | 2024/06/30 | 2023/12/31 | 2023/06/30 |
|---|---|---|---|
| Cash and Cash Equivalents | 298,230 | 413,941 | 390,577 |
| Accounts Receivable | 592,997 | 490,735 | 550,103 |
| Inventories | 433,658 | 342,695 | 385,643 |
| Property, Plant and Equipment | 1,293,638 | 1,361,133 | 1,450,495 |
| Other Assets | 185,269 | 166,029 | 137,396 |
| Total Assets | 2,803,792 | 2,774,533 | 2,914,214 |
Liabilities & Equity
| Item | 2024/06/30 | 2023/12/31 | 2023/06/30 |
|---|---|---|---|
| Current Liabilities | 511,247 | 473,103 | 446,101 |
| Non-current Liabilities | 581,192 | 579,548 | 655,849 |
| Total Liabilities | 1,092,439 | 1,052,651 | 1,101,950 |
| Total Equity | 1,711,353 | 1,721,882 | 1,812,264 |
Business Segments
The company operates in various segments, including:
- Sensing (感測)
- Curing/Sterilization (固化/消毒)
- Automotive (車用)
- Backlight (背光)
- Other (其他)
Products & Technologies
The company's products include ultra-high brightness LED epitaxial wafers and chips, LED packaging modules, and related application products.
Clients & Markets
The company's products are used in various applications, including sensing, curing/sterilization, automotive, backlight, and other fields.
ESG / Sustainability
The company has implemented various environmental and social initiatives, including:
- Installation of fixed pollution source VOC control equipment
- Promotion of greenhouse gas and carbon footprint inventory
- Awarded the "Healthy Workplace Self-Certification - Health Promotion Mark" by the Ministry of Health and Welfare, National Health Agency
- Promotion of energy health check and power saving project
Outlook & Strategy
The company's future outlook and strategy are subject to various risks and uncertainties, and actual results may differ from estimates.
Additional Data
Revenue Proportion by Application Product
| Application | 2023 Q1-Q3 | 2024 Q1-Q3 |
|---|---|---|
| Sensing | 40% | 42% |
| Curing/Sterilization | 17% | 16% |
| Automotive | 26% | 30% |
| Backlight | 6% | 4% |
| Other | 12% | 8% |
Quarterly Operating Revenue & Gross Margin
| Year/Quarter | 2020 | 2021 | 2022 | 2023 | 1Q24 | 2Q24 |
|---|---|---|---|---|---|---|
| Operating Revenue (NT$ Thousand) | 1,302,811 | 1,762,614 | 1,194,713 | 1,132,459 | 269,994 | 336,913 |
| Gross Margin | 15% | 22% | 9% | 2% | 4% | 16% |
Operating Revenue & Net Profit After Tax
| Year/Quarter | 2020 | 2021 | 2022 | 2023 | 1Q24 | 2Q24 |
|---|---|---|---|---|---|---|
| Operating Revenue (NT$ Thousand) | 1,302,811 | 1,762,614 | 1,194,713 | 1,132,459 | 269,994 | 336,913 |
| Net Profit After Tax (NT$ Thousand) | 16,164 | 144,091 | -72,302 | -138,752 | -13,053 | 2,128 |
Basic EPS
| Year/Quarter | 2020 | 2021 | 2022 | 2023 | 1Q24 | 2Q24 |
|---|---|---|---|---|---|---|
| Basic EPS (NT$) | 0.16 | 1.44 | -0.72 | -1.38 | -0.13 | 0.02 |