JINPAO (jpp-KY) 2024Q 法說會簡報

Company Overview

• Company Name: JINPAO (jpp-KY)
• TWSE: 5284
• Business Model: Custom Mechanics, High-Mix Low-Volume, Integrated Engineering & Manufacturing
• Global Presence:
  • 2 strategic poles
  • EUROPE
  • BANGKOK
  • ASIA
  • Key figures (Year: 2024 1~10, USD): 46M, 12.2M, 1200, 106, 1, 3, 2
• Factory Capacity Planning:
  • 39,228m2
  • 49,297m2
• Competitive Advantages:
  • MATERIAL TYPE: Aluminum, Stainless Steel, Inconel, Copper Alloys, Nickel Alloy, Titanium (Plate, Sheet, Bars, Extrusion, Die Casting)
  • Capabilities: Tooling Design & Manufacturing, Raw Material Procurement, Engineering Solution (R&D), Sheet Metal Parts Fabrication, Machining, Assembly Bonding Welding Riveting, Surface Treatment (Anodize, Alodine, Chromate, Silver Plating, Painting)
• Certifications:
  • 製造工藝 Processes (Manufacturing Processes): 泰國第一張Nadcap Welding (Thailand's first Nadcap Welding), Riveting, Assembly, Painting, Surface Treatment, Sheet metal Fabrication, Machining fabrication, Laser Welding, TIG Welding
  • ISO 14001, ISO /IATF 16949
  • Welding Chemical Processing Non-Destructive Testing Heat Treating
• Operational Distribution:
  • MANUFACTURE: NCT Punching, Laser, Bending, 3/4/5 Axis CNC Machining, Stamping, Hard Tooling, Hydroforming
  • SPECIAL PROCESS: Anodizing, Chemical Conversion Coating, Primer & Painting, Powder Coating, Bonding Non-Destructive Testing, Welding, Heat Treatment
  • SPECIAL PROCESS SUBCONTRACTORS: Boric Acid Anodizing, Sulfuric Acid Anodizing, Hard Anodizing, Chromate Conversion, Electroless Nickel Plating, Chrome Plating, Nickel Plating, Cadmium Plating, Silver Plating, Bronze Plating, Tin Plating, Zinc Plating, Passivation, Heat Treatment, Die Casting
  • Industry Distribution:
    • 35~37% Aerospace
    • 50~55% Tele-comm
    • 6%~7% Electronic
    • 1%~2% Food
    • 3%~4% Health-care Automotive Energy

Financial Highlights

• Aerospace Revenue Contribution:
  • 2023年: 30%40% Aerospace, 67% Other
  • 2024年1~10: 30%35% Aerospace, 4647% Other
  • 28%32% Aerospace, 4647% Other

Business Segments

• Aerospace (Aero) & Non-Aerospace (Non-Aero): 產線移轉中 (Production line transfer in progress)

Products & Technologies

• Aerospace Products:
  • Aerospace 新機製造 (new aircraft manufacturing)
  • A340, A320, AIRBUS A350
  • Electrical Flight Control System Computers Enclosures
  • Enhance 內裝座椅結構件 (interior seat structural components) for Safran and Airbus子公司 (Airbus subsidiary)
  • Pilatus
  • AirBus 交機狀況 (delivery status)
  • AirBus 接單狀況 (order status)
  • Pilatus 現有專案機型 (existing project models)
  • AirBus 商用飛機服務市場預期 (commercial aircraft service market outlook)
  • Train&Operate, Wefly, 飛行訓練學校 (flight training school)
  • MRO 維修改裝 (Maintenance, Repair, Overhaul)
• Server Products:
  • Server Case (1U, 2U, 3U, 4U)
  • Server Rack (42U, 48U, 48U Open Rack)
  • Power Case
  • Cooling Components
  • Power Shelves
  • Manifold (Front Side, Back Side)
  • CDU components
• Other Product Lines:
  • 食品工業 (Food Industry):
    • food scanners
    • vending machines
    • X-Ray Metal Checker
    • Automatic Combination Weightier
    • Milk Analyzer
  • 智慧醫療 (Smart Healthcare)
  • 數位咖啡機 (Digital coffee machine): Taobin

Outlook & Strategy

• 明年展望 (Next Year Outlook):
  • Aerospace 穩定成長 (stable growth)
  • Server 大躍進 (significant leap forward)
• MRO 維修改裝 (Maintenance, Repair, Overhaul) Targets:
  • 2025目標POA認證 (2025 target POA certification)
  • 2026目標DOA認證 (2026 target DOA certification)
• 未來五年 (Next Five Years):
  • 航太 (Aerospace)
  • 伺服器 (Server)
  • (非航太) (Non-Aerospace)
  • 新土地 (New land)

Additional Data

• Aerospace Industry:
  • 泰國廠新機製造 (Thailand factory new aircraft manufacturing)
  • 歐洲廠三家子公司 (Europe factory three subsidiaries)
  • 泰國廠維修改裝(2026年) (Thailand factory maintenance and modification (2026))
• 歐洲子公司 (European subsidiaries)