Fuzetec Technology (6642) 2025Q1 法說會簡報

Company Overview

Fuzetec Technology is a leading company in the circuit protection industry, with a global presence in over 40 countries. The company was established in 1999 and has since achieved numerous milestones, including mass production, acquisition of ISO 9001:2000, and expansion of its global network.

Global Presence

• Global Presence in more than 40 countries
• Fuzetec Global Network:
  • 富致科技 台灣總公司
  • Fuzetec Soochow
  • Fuzetec Dongguan

Company Milestones

• 1999-2001: Fuzetec Established; Mass Production Started; Acquired ISO 9001:2000
• 2004-2006: QS 9000 & ISO 14000, RoHS & Lead Free
• 2007: Automotive ISO/TS 16949
• 2010: Production Capacity reach 200 M pcs; Big Growth in Automotive & Energy Market
• 2013: Custom Design Part for First Tier Automotive Supplier; Company IPO & Automotive IATF 16949
• 2016: Issued New Common Shares; Fuzetec China Soochow Office; Global Network Expansion
• 2017-2019: New HQ start building, ECD in 2025; National Award of Outstanding SMEs; ISO 14064
• 2021: Introduced MOV/TVS & Hybrid Products
• 2022: New Taipei Enterprise Classic Awards; ESG/SDGS; Talent development
• 2023: Introduce power semiconductor; Total Circuit Protection Solution Provider
• 2024: Production Capacity reach 500 M pcs
• 2025: New HQ building completion and start Operation, Capacity boost; Target on AI, Automotive, Automation/Robot

Core Competence

• Advanced Polymer Formula Research
• Patent Portfolio Development
• New PPTC Product Design
• Custom Design Product
• On-site Engineering Support
• Customer Joint Project Development
• ISO Standard Management
• UL/cUL/TUV Safety Standard
• Environmental Certification
• Product Quality Assurance
• Taiwan, China & Overseas Sales Support
• Worldwide Distribution Network
• 20% of Fuzetec Employees (implied R&D focus)
• Automated Production Control
• Statistical Process Control
• Real Time Monitoring Production Platform

Business Segments

Main Market Segments & Applications

• Automotive:
  • More than a decade of experience in Automotive market, ISO/TS 16949 certified.
  • AEC-Q200 qualified products; work closely with First Tier automotive suppliers.
  • Applications: Door Lock/Power Mirror & Window/Electric Tailgate, Sensors & Actuators, ADAS/Infotainment System/Virtual Dashboard/Electronic Throttle, Power Seats/Lumbar Support, HVAC System、Vent Control, Automotive Electrification, LED Module, BMS/48V System/Power Outlet, TCU/Connected Vehicle.
• Industrial Control/Industry 4.0:
  • Under the trend of Industry 4.0, global industries move toward smart manufacturing and applications. PPTC is the ideal circuit protection solution for machine control interface & power management.
• IoT/Smart Application:
  • Applications: Auto-Pilot system (Protect Sensors and Telecom equipment Modules against Surge and Spike), Data Center & Server (Prevent ESD events and Telecom equipment being damaged from Surge and Spike), Optimal Energy Management (Ensure AI and Server equipment's achieve Optimal Energy utilization during power switching), AI Equipment (Protect costly ICs in AI equipment against Overcurrent).
  • Circuit Protection Devices and Power Semiconductor play a crucial role in AI system assuring stability and long-term reliability.
• Energy:
  • Applications: Smart Grid, EVSE, Battery Protection, Solar Energy.
  • The evolution of battery technology and government policy support boost the adoption and deployment of EV and battery energy storage system. Fuzetec PPTC devices provide the ideal protection for EV BMS and BESS on/off grid DC/AC conversion.

Products & Technologies

Fuzetec Product Line-ups

• Over Current
• Over Voltage
• Hybrid OCP+OVP
• Power Semi-conductor

PPTC Resettable Fuse

• Types:
  • Battery Strap PPTC for Li-ion Battery Cell BMS/PCM
  • SMD ＆ Low Rho SMD Products for IoT/ Smart Application & Wearable Devices
  • DIP Type
  • Chip/Ring & Custom Design PPTC Products for Automotive and DC Motor Protections
• Key Features: Patented High Temp/ High Voltage Formula; for Automotive, Industrial, Telecom and Network Applications.
• How It Works (PPTC Operating Curve):
  • Crystalline Polymer
  • Carbon Black Conductive Chain
  • Molten Polymer
  • Temperature rise during fault condition leads to Tripped State (resistance increases).
  • Temperature drops after fault current removed, allowing reset.

Metal Oxide Varistor (MOV)

• Fuzetec MOV Product Lineup:
  • Standard D Series
  • Medium Surge V Series
  • High Energy P Series
• Concept: A voltage suppression device that clamps transient surges in electrical circuits. A voltage dependent device, operating in a similar way to back-to-back Zener Diodes.
• Function: When exposed to high voltage transients, the MOV’s resistance changes from a near open circuit to a very low value, thus clamping the transient voltage to a safe level. The surge energy is absorbed by the MOV, thereby protecting vulnerable circuit components.

Transient Voltage Suppression (TVS) Diode

• Fuzetec TVS Diode Product Lineup:
  • SMD Standard TVS (Package: SMA/SMB/SMC; Power Range：400~5,000W)
  • Automotive Protection SMD TVS (Automotive AEC-Q101 Qualified; Package：DO-218; Power Range：3,600~6,600W)
  • Axial Leaded High Power TVS (Package：R6-P600/ Custom; Power Range：15,000~30,000W)
• Concept: Electronic components designed to protect sensitive electronics from high-voltage transients. They can respond to overvoltage events faster than most other types of circuit protection devices, and are offered in a variety of surface mount and through-hole circuit board mounting formats.

Hybrid Circuit Protection

• Concept: OVP+OCP Hybrid Component：Combining Ceramic (MOV) or Semiconductor (TVS Diode) overvoltage protection devices and PPTC base plates with Fuzetec’s innovative new patents, we create a comprehensive circuit protection solution with higher surge immunity and lower the risk of catastrophic thermal runaway.

Power Semiconductors – MOSFET

• Concept: The primary design considerations in MOSFET applications are the heat generated during load switching and the reverse current. PPTC can effectively solve the reverse current problem, and the capability of use with smaller heat sinks can significantly reduce the cost, weight, and size of MOSFET applications. Fuzetec can provide circuit solutions for MOSFET applications and is actively developing PPTC-integrated MOSFET hybrid products.

Financial Highlights

Sales Revenue

• 2024 Sales：NTD 523 M
• 2024 : USD 16.3 M

Market Share

• The global PPTC market is valued at approximately 700 million US Dollars. Fuzetec has a 5% market share, ranking 4th in the industry. In recent years, our strategic initiatives have steadily increased our product market share.

Product Applications (2024)

• AI/Smart Application
• Automotive
• Industrial Control
• Energy
• Others

Sales Region (2024)

• 其他* (12%)
• China-foreign joint ventures
• Foreign-funded
• China-funded
• Taiwan
• Americas
• EU
• Asia

Outlook & Strategy

Market Trends & Growth Projections

• Automotive: Automotive electronics will grow from USD 312.9 B to USD 660 B from 2023 to 2032, CAGR over 8.9%.
• AI/Smart Application: AI/Smart will grow from USD 638.23 billion to USD 3,680.47 billion from 2024 to 2034, CAGR over 19.1%.
• Industry 4.0: Global Industrial Control will grow from USD 495.7M to 754.5 M from 2024 to 2029, CAGR 8.77%.
• Energy: Global renewables in final energy consumption will grow from 13% in 2023 to nearly 20% by 2030. Global energy investment is set to exceed USD 3 trillion for the first time in 2024.

Strategic Initiatives

• Digitize through big data analysis and synchronize with ERP system.
• Cross-industry collaboration, integrating OVP and OCP products.
• Developing new products based on future market demands.
• Innovating and integrating product applications.

Strategic Vision

• Professional and comprehensive circuit protection solutions provider.